Signs you are ready to retire ( Philippines )

Written by: King San Jose Santos, RFP

Most Filipino’s have a short term mindset instead of preparing for a relaxing future, they tend to enjoy life in the short term while suffering in the end. An investment mindset and a long term vision is what lacking in the Philippines.

 We asked our clients in San Jose Financials website (www.sanjosefinancials.com) and asked them,  “ What is the best investment for you?”.  80% answered  they prefer to put it under time deposit.

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•      Know more about SJF Business Management
•      SJF Business Solutions

Financial literacy is too low in the Philippines. The Majority of Filipino’s is intimidated when they talk about stocks, bonds or other investment materials that is available. So what are the factors for us to retire early?

If we talk about retiring, there are other factors you need to consider. Spiritually and mentally, a person should consider asking yourself if you are ready to have a life of no work.  You have to understand the when you decide to retire, every day is “ Sunday”.

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•     Know the requirements in Retirement
•     How SJF Wealth Managers can help you retire?

Being ready financially is easy to compute. We always do that in here with SJF computing the readiness of our clients in retirement and preparation of funds. However,  we should know the right perspective. It is not with the age but with the financial readiness and proper mindset is a sign when you are ready to retire.

What are the signs that you are ready for retirement?

1. Following a Plan

• Being retired involves discipline.  If you have a plan when you are playing games or sports, isn’t that logical to have one for your wealth as wealth ?

 ( visit www.sanjosefinancials or call for a free consultation 798.8111)

2. You are fully covered with your risk

• From your life for your health,  Your risk for you and your family is fully covered

3. Your children are financially independent

• Seeing your children grow and worry free is every parents dream.  You are ready to retire if you see your kids fully independent and well covered.

4. Almost no debt.

• You are ready to retire if you see your house, car and other loans fully paid.

5. Your investments can sustain your everyday

• You are definitely ready when you see that you can survive by just your investments.

Everyone has a different standard. A retirement plan for Mr. Guitirez can’t be fit for Mrs. Salvon. There is no amount that can tell you that you are ready for retirement.  Filipino’s often tend to look for the value of income as the basis, however the secret formula there is not only income but several financial factors.

 To know more about retirement planning, visit SJF website atwww.sanjosefinancials.com or call 798.8111.

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Getting Financial advice from Independent advisers

In the Philippines, it is hard to get financial advice especially the low financial literacy of the Filipinos comparing to other neighboring countries such as Singapore.
 In this regard, some individuals take advantage of this scenario which affects their future, affecting the quality of the life or even destroy their portfolio.

People working for institutions such as Insurance or banks' claims they care for their clients, however you have to ask yourself. Can you tell the client 100% disadvantage of your product? Or can you tell the client they don't need it? Or even give advice without buying the product? The main objective is to sell the product to you. It's hard to accept but it is a fact.

1. Knowing the complete Truth.
 Independent Financial advisers tell the truth including the disadvantage of the product or investment. They give you alternative in reaching goal.

2. Have a vast knowledge in all your investments.
 Real Independent Financial advisers have a vast and wide knowledge in different investment you have. From equities to your business, they make sure everything is aligned to your goals and objectives in life.

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* Know SJF Business Management
* Benefits of Wealth Management
* Understand your goals in life

3. They give you advice without getting a commission when you buy or invest.
 Real Independent Financial advisers give you advice even though you don't buy any product. Conditions such as "free financial plan" or "we will teach you how to reach your goals" when you buy their product are top signs they are brokers selling you a product. Real Independent Financial advisers double check your current status before acquiring an investment. They don't look for your portfolio on how they can put the product in your product.

4. They put your interest first.
 Real independent Financial advisers search for ways how you can reach your goals and look what is best for you. They look for alternatives that is comfortable for the client and offers different alternatives such as opening business ventures, real estates or even  investment abroad.

Before, only high net worth individuals  can afford Independent Financial Advisers . Some individuals even travel abroad to acquire independent and real financial advice from independent firms.
Now, new groups such as San Jose Financial Wealth Management Group which offers unbiased financial advice and planning on how you can achieve your goals in life, aligning your goals and objectives with your overall financial status. From your investments to your debts, SJF helps you plan your goals in life and find alternative on how you can achieve our dreams in life. A group of professional people helping you reach your goals in life.

Talk to your SJF Wealth Manager for a FREE 1 HOUR Consultation and see the difference.
Helpdesk (+632 798.8111)

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5 People You Should Never Get Investment Advice From

by MIRANDA MARQUIT on MARCH 13, 2013 of excessreturn
www.sanjosefinancials.com

These days, it seems as though almost everyone has an idea of how you can get ahead as an investor. However, no matter how good the investment advice sounds, you need to do a gut-check. Can you trust this person? And why is he or she sharing such a great tip with you?

While you can listen to the investment ideas put forth by just about anyone, it’s another thing to whole-heartedly trust someone else with your money. Before you take the plunge, carefully examine the situation and the fundamentals, and then reconsider. Here are 5 people you should be wary of when they are giving you investment advice:

1. Family ( Related Topic: What is the best investment for you? )

It’s tempting to get in on that “hot” tip that your brother-in-law is offering, or get in on the bottom floor on that “investment opportunity” Your cousin is involved with. Unfortunately, too often, your family members don’t really understand investing. Like many others, they are following the herd, and that “hot” stock may be in bubble mode.

Even worse is the possibility that your family member has been taken in by an investment scam. Going in can mean that you are caught in the trap, too. Before taking the advice of a family member, review his or her track record with finances, as well as remind yourself that your family member probably doesn’t have the know-how or credentials to be giving investing tips.

2. Strangers ( Related Topic: how to reduce debt? )

Why would a stranger go out of the way to give you great investment advice? In this category are those emails you receive about penny stocks and other “opportunities.” Also, be wary of taking advice from strangers you meet in social settings. He or she might be bragging about his or her investing prowess, but you don’t really have any proof that there is a real performance capability there.

3. Co-Workers ( Related Topic: Legal Forex Scams) 

Unless you work in the investment industry, and your co-workers are all analyzing the merits of a particular investment, your co-workers probably aren’t the best people to turn to for financial advice. Instead, your co-workers are likely just behind the curve, buying when everyone else is, and selling in panic when things go south.

On top of that, co-workers are often sources of investment scams. They get taken in by scams, and then ask you to participate. They may be in earnest about the “opportunity”, but that doesn’t make you feel better after you’ve both been duped.

4. Media Talking Heads ( Related Topic: How to reduce your debt? )

It may be fun to watch Jim Cramer’s antics, but it’s important not to take your advice from media talking heads. Financial media don’t exist to inform investors. The primary goal of the financial media is to make money; any education or useful information provided to investors is merely a side product.

One of the best ways to make money is to sensationalize things. Media talking heads try to draw you in by convincing you that something is practically full-proof, or by whipping up fear about the imminent disaster. Making investment decisions based on these extremes presented by the media can lead to big losses to your portfolio.

Take the news with a grain of salt. Instead, you are better off following your own investing plan designed for the long haul, and ignoring the noise from the TV screen.

5. Brokers and Other Wall Street Types 
( Related Topic: Risking your life with brokers and advocates)

Going to a stockbroker for advice seems like a slam dunk. After all, these folks know all about investing. Unfortunately, Wall Street types probably don’t have your best financial interests at heart. Brokers are, on a basic level, salespeople. This means that they are trying to get you to buy products that will earn them a better commission.

Whether it’s someone at your local bank, or a broker with an official firm, the reality is that these advice-givers only have to recommend something that is “suitable.” And suitably isn’t the same things as “best”.

If you want solid advice from a professional, consider using a Registered Investment Advisor (RIA) or a fee-based financial planner. The RIA has a fiduciary responsibility under the law to look to your interests ahead of the commission, and a good financial planner that isn’t paid by commissions can offer mostly unbiased advice. 

Here are a few tips to know more about independent Wealth Management

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Top 10 starting up your finances properly

Launching your own business is tough and the line between success and failure can be fine; smallbusiness.co.uk's Top Ten Starting Up Tips help you make the right decisions from the outset. 

1. Involve your family
If you have a husband or wife or children, involving them in the decision to go it alone is important. Your home atmosphere should be very supportive, particularly in the early stages. Your family could also be useful as a sounding board, helping out with the odd task or providing feedback or finance.

Related Blog: *Attending Free Wealth Seminar

2. Analyze your personality
You need to ask yourself if you are the right person to start a business. Compile a checklist with the help of the following questions: Can you work long hours? Can you take criticism? Will you be able to cope with financial insecurity? If your business struggled in the early stages, would you continue? Write down the reasons why you are starting a business

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* Knowing your Goals                            *PH one of the top havens for retirement

3. Make sure your product is a must-have not a nice-have Once you've got an idea you need to know that people will need it enough to want to buy it. Many people opt to begin a business by using a skill that they have acquired in their spare time as a hobby, such as jewelry-making. 

4. Your idea doesn't have to be new
Trying to sell a product that is new can be an uphill struggle. Being first is not always best, as you have to educate a market and convince them of the need for your product. So don’t be put off if your idea has been done before – think about how you can do it differently, by including an additional feature or benefit.

5. Know your market better than your competitors
Carry out as much market research as possible. Find out about your marketplace,

Concentrating on areas such as the demand, your competitors and the size of the market. Talk to potential customers, suppliers, competitors, distributors and ex-employees of competitors. 

6. Toe-dip
Everyone has different motivations for starting a business, and toe-dipping means you can test your idea out without risking everything. You can carry on earning money from your job while you are starting up. Use your spare time to carry out your market research.

7. Be honest about your weaknesses
Identify what you do well and what you do badly, dividing it into areas such as financial, marketing, operational and general management. Be honest with yourself, but also be realistic. Try and get someone else to evaluate your answers – another person’s perspective can be very valuable. Identifying your weakness will help you to recognize what you are good at, and which areas you will need to find someone who can do a better job than you.

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8. Get a good mentor on board
Remember – two heads are better than one. Seek out the advice of a family friend who has the experience of being in business, or someone who is recommended to you, or someone you are close to. Consider giving them a share of the profits or equity in your company in return for advice.

9. Justify every assumption in your business plan But remember that whatever you write down is not set in stone. Your business plan should have long-term objectives, estimates and forecasts – try to make as many of your goals as possible measurable. The two most important reasons for having a plan are to show to outsiders if you need to raise money, and to help you keep your business on a planned course, so you can spot when things are not going to plan. 

Related blog: Investment Management in the Philippines

10. Keep it in your business plan succinct an ideal format for your plan, if you intend it to be for outside use, is to have between three and ten pages of text that draw out the important points, plus a series of financial figures. Excessive detail should be confined to appendices.

Credit,written and published by www.smallbusiness.co.uk all rights reserved. Copyright 2013

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PH also among the TOP RETIREMENT HAVENS

This article is brought to you by : PHILIPPINE DAILY INQUIRER
Written by Fe Zamora

MANILA, Philippines—Scoring a perfect 100 percent in “Cost of Living,” the Philippines makes it to the “World’s Top Retirement Havens in 2013,” an annual list prepared by International Living, a monthly publication about the best places to live in, retire, travel  and invest.

The Philippines ranked 15th in a list of 22, sharing the spot with France and Ireland, the magazine said in its website, www.internationalliving.com.

The ranking was based on a retirement index which the magazine’s editors, correspondents and in-country experts collected. The index cited eight categories, namely, real estate, special retirement benefits, cost of living, ease of integration, entertainment and amenities, healthcare, retirement infrastructure and climate.

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Ecuador, which topped the list, scored a perfect 100 on climate. It scored a total 91.9 percent.

The Philippines, France and Ireland tied on the 15th place with an index score of 79.5 percent.

The Philippines scored high in ease of integration, healthcare facilities and retirement infrastructure. It scored the lowest 57 percent for real estate.

“Each destination is desirable in its own way, but they all offer something increasingly hard to come by at home: A good quality of life for a reasonable price,” the magazine said.

“Among these 22 destinations, you’ll discover places where you can save tens of thousands of dollars on world-class healthcare administered by English-speaking and US-trained doctors … find beachfront condos for less than $90,000 … and see that a couple can live well on just $900 a month excluding rent.

“Now, no ‘formula’ can spit out the name of the place that’s just right for you. After all, your priorities are uniquely yours,” it also said, addressing the retirees.

Data from the Philippine Retirement Authorities (PRA) show a high concentration of foreign retirees in Makati City, which boasts of modern hospitals, malls, hotels and entertainment amenities.

The PRA is the government agency mandated to attract foreign nationals and overseas Filipinos to invest, reside and retire in the Philippines.

Panama, Malaysia, Mexico, Costa Rica, Uruguay, Colombia, Spain, Thailand, Malta, Portugal, Nicaragua, New Zealand, Italy, Brazil, Chile, Honduras, Belize and Dominican Republic also made it to the www.internationalliving.com list of Retirement Havens.

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* Do you want to retire early?
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