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History has proven that investing in quality stocks can give greater returns than most investment instruments. This offers you the best chance in achieving your financial goals and gives you the ability to later enjoy the benefits of your money working for you.
Growing up in an average Filipino family setting, I never really paid attention in investing. I was under the impression that for me to be successful I need to study hard and get high grades, find a good job, save and go on with my life. Never was I aware (or I guess I ignored it) that saving your money in the bank will only yield a measly 0.25% interest per year. This simply means that your Php100 will earn you 0.25 centavos in one year.
I attended a seminar recently about investing in the Philippine Stock Market and it really was a huge eye opener. Ask any Filipino what’s the US Dollar to Philippine Peso exchange rate and they would give you a somewhat correct number. In contrast, try to ask a Filipino what’s the current inflation rate and you’ll be lucky if he/she even knows what it means.
Inflation in the country is at 4.1% which is still considerably low. How does this impact you and your goal to be financially independent? You’re money needs to earn at least 4.1% this year to break-even and more to earn. Is your money going to earn 4.1% by sleeping in your savings account?
Another one bites the dust! I guess Filipinos are really getting popular around the world to be the topic of movies, books, and now jokes. The most recent is courtesy of Canadian comedienne Katherine Ryan who’s based in the United Kingdom.
In a segment where participants were asked to say unlikely lines from a cosmetics commercial, Ryan said: “We don’t use any of our products on animals. We use Filipino children.” A 15-second clip featuring her quip has been uploaded on YouTube last June 13. It has received 14, 000 views so far. Watch a three-minute video of the “Mock the Week” segment through this website.
According to a write-up about Mock The Week, the show requires guests to deliver answers on unexpected subjects on the spur of the moment. Ergo, Ryan’s joke about Filipino children is an unscripted one. Read more about her in this Wikipedia profile.
Responding to a query from The Filipino Scribe, Katherine Ryan said via Twitter (@Kathbum): ”If you’d watched the whole show instead of reacting to a still shot out of context, you might feel that I was criticizing the EXPLOITATION of children. The joke is never, ever ON children. Watch the show.”
Source: Filipino Scribe