Archive for the ‘Career and Work’ Category
OFWs: The unsung and underrated heroes
OFWs: The unsung and underrated heroes
by: Kendrick Chua, CIS, RFP, The Wealth Warrior
First published in Pera-isipan Features of Philippine Online Chronicles.
When a class of hotel and restaurant students was asked how many of them want to go abroad for employment after their graduation, not a few raised their hands. Although still young, they are aware of the benefits as well as the risks involve. They are adamant on finding better opportunities for themselves outside the Philippines.
Underrated Modern Day Heroes
The OFWs have been called as modern-day heroes. No title is more befitting. Although they do not brandish any guns nor wield any swords, the money that they send back to the Philippines as remittances certainly shield the country from any economic calamity.
Not a lot of people understand how remittances play an integral part in the country’s economic growth. Next to export, the remittances are the largest source of foreign exchange. At present, the remittances stand at 10 percent to the Gross Domestic Product (GDP) and are responsible for fueling household consumption. Since consumption is two-thirds of the total output, a decline in this category can certainly cripple our economy.
Read the full article here.
Increasing My Sources of Active Income
Increasing my sources of active income
by: Kendrick Chua, The Wealth Warrior
How many times have I heard of passive income when I started working? A lot! And this is what the young professionals, myself included, are being preached about. Sometimes, it just gets really tiring hearing this over and over again like a broken record. Come on, reality-check, only a handful of people are already earning substantially from passive income at my age. Most of the people I talked to really have this in mind.
On Being a Financial Journalist
On Being a Financial Journalist
by: The Wealth Warrior, Kendrick Chua
Six years ago, when somebody told me that I’d be a writer, I’d tell him one of the two things: He’s nuts or he’s insulting me. I can even tell him both. After all, he is speaking to someone who never got a mark higher than 70% in English and once had a low of 50 in one of those essays.
Back then, I kidded myself that because I’m an “intsik”, my English doesn’t merit a high grade. Perhaps, my essays are long gone and destroyed that there is really no justification to my theory then.
Today I write professionally. I never thought that I would develop a passion for writing. I must have gotten this from my sister who herself was a former editor-in-chief of her own publication company.
Tags: financial journalism
Collegiate Financial Planning
Collegiate Financial Planning
by: Kendrick Chua, the Wealth Warrior
College was meant to prepare us for the real world, as what we were told. Well, I’d like to believe the schools did their work and the education we had was, in one way or another, did wonders for our chosen career.
But somewhere along the system, there is a gap. It is not exactly a flaw but a hole that needs to be plugged, an issue that needs to be addressed. The school taught us how to make money. There are even career counseling courses offered to graduating students to train them on how to “sell” themselves to their employers and climb the corporate ladder. Ammunitions for successful corporate stints are in no way lacking.
But the school never taught us how to manage that money.
Tags: financial planning
Generosity of Filipinos: A Tribute to Former President Cory Aquino
Generosity of Filipinos: A tribute to
Former President Cory Aquino
by: Kendrick Chua, the Wealth Warrior
I was literally awed by the supporters that have braved the rain just to send the former president to her final resting place. People of all ages, of all status came together as one. It was really touching, to say the least. The unity of the Filipinos shone brightly once again. Unfortunately, it was an effect to a tragic cause.
The Filipinos do have a lot to be proud of. The problem is, we just don’t know about it. We have spent centuries of degradation from foreign invaders. As if the colonialism was not enough, we just have to go into mass exodus to other nations to render our service where no others would do.
Shameful? Definitely not!
Tags: money habits
Why You Need a Financial Advisor
Why You Need a Financial Advisor
by: Kendrick Chua, the Wealth Warrior
Make no mistake about my title, I am not referring to insurance agents who claim to be financial advisors only to peddle product after product to satisfy the need-his (or her) need, not yours. Insurance companies did deem it necessary to elevate the designations of their sales force. After all, being a “financial advisor” is much more glamorous than being an “insurance agent”. The question of which title is nobler is another story.
What I mean by financial advisor is someone who can objectively and impartially give recommendations to help solve the need-yours.
A financial advisor performs several intangible functions on top of your doing your retirement plan, protection analysis and investment options:
Tags: financial advisor
The Concept of Hyperwage
The concept of Hyperwage
by: Kendrick Chua, The Wealth Warrior
The word may be alien to most of us. We are after all more familiar with the term minimum wage-the least compensation that a worker should take home. Hyperwage however is different. It is giving the employees much more than their current income.
Susan Bigay, one of our lecturers in the Tax Planning class in the 14th RFP Course shared to us this concept. To grasp the idea better, she shared to us the story of her dermatologist friend.
Now her dermatologist friend has a clinic in one of the malls in Metro Manila and is earning rather high-only Ps. 300,000.00 per day (yes, per day). That translates to Ps. 9M a month of sales and when we deduct the operating expenses, it still gives her 80% profit or Ps. 7.2M. For some, this is already a whole life savings. For the others, this figure is only a dream.
To say that she is quite successful in her career is an understatement and that is why it upset her when one of her trusted staff stole 3 days worth of sales from her clinic. This staff has been with her for the past 5 years and yet she did what the doctor thought was impossible.
Tags: salary
