If you can still remember my previous post about the Rule of 72, wherein you can determine your money or investment the number of years to double, at a certain interest rate. Now, I’d like to share to you where the Rule of 72 working against you as I have personally experienced this one just last week.
A lot of people are quite amazed when they learn that some people are actually making a living thru blogging. There are even those that were able to buy a house, buy a car, buy a laptop, buy an LCD tv thru blog. How did they do that? The concept is fairly simple, so to speak.
Today, I’ll try to impart some of the things I’m currently doing and though my earnings can’t be compared ‘yet’ with those that I’ve mentioned, it may be inspiring enough to those who love to write and yet don’t know that they can actually earn money from blogging.
Before you read this post, I must WARN you. The VIDEO you’re about to see is highly contagious that if you can practice this in your daily activities, will tremendously CHANGE your life. This is really serious! If we could have the discipline to instill these laws, believe me, everything will never be the same again.
The rule of 72 dictates that to be able to compute the approximate number of years for your money to double, simply divide 72 by the interest rate.
72 / interest rate = approximate no. of years it will take for your money to double.
Let’s take the example of having a Savings Account in any commercial bank with the current prevailing interest rate of 1%.
For this post, I’d like to borrow Bo Sanchez’ Chapter 30 story of the ‘8 Secrets of the Truly Rich’ that differentiates the spender from a saver and from an investor. According to that chapter, there were three (3) salesmen, James, Jim and John. The three of them got a big sales and therefore each received a hefty Php 100,000.00 commission each. Also, each of them had different plans for the amount that they received.
Now that we’ve seen the World’s Richest People as of 2008, it’s now time that we get to know our own Billionaires and Millionaires. The Top 15 Philippines Richest People as of October 2007.
Guess who’s on the Top list of Philippines Richest People of 2007 according to Forbes.com? It’s no other than Mr. Jaime Zobel De Ayala, surpassing the previous no. 1 Henry Sy.
For the complete list with their corresponding Net Worth and brief intro, read on.
Due to insistent public demand and the growing awareness on Mutual Funds, we’d like to elaborate on this topic more. What really is Mutual Funds and why is it making such a big intrigue to a lot of us, having a higher interest rate than the usual bank deposit? Isn’t this one of those SCAMS that victimized a lot of people in the past loosing a lot of their hard-earned money?
Read on so that you will be enlightened just like me when I got to know this Mutual Funds. (These are taken from the Investment Company Association of the Philippines (ICAP) which has all the mutual fund companies registered with and licensed by the Securities and Exchange Commission (SEC) - talking about legality eh) (http://www.icap.com.ph - best viewed in Internet Explorer)
What is a Mutual Fund?
Unlike the usual scenario of hiding from insurance agents, my case was the opposite. I was the one who actually hunted my agent. After reading several books about financial planning, the urge to have an insurance quickly came in the picture. Maybe because before, I am not aware of the real importance of insurance. Maybe because before, my impression of life insurance is something that you can only get when you die, so I won’t really benefit from it. In which case, you didn’t really get any unless you pass away. And maybe before, it was just an expense on my part.
In the year 2006, one of the headlines that surprised the world was when Warren Buffet donated half of his billions to Bill and Melinda Gates Foundation amounting to $37 Billions which is more than half of his worth.
Now, 2 years after, Warren Buffet still emerges as the World’s Richest Person with a worth of $62 Billions. Makes me truly believe of the Universal Law. That if you give away something, especially if its charity, something bigger will come back to you.
If right after graduation, wherein I got my first job I had the discipline to save at least P1,000 a month, I would have only needed 14 years more to have accumulated more than 1 million in savings.
Found this video on Youtube, thought of sharing it with you. A little something to think about.
Eversince I was a child, I’ve been wondering how is it like to be RICH? How is it like to have a toy without having to discharge buckets of tears? How is it like to go to Disneyland or any other countries without even planning? Why am I not born wealthy?
Since then, it had been my ultimate goal to be wealthy ‘SOMEDAY’! Wherein I could travel wherever I want. Buy whatever I need and desire. Give as if there’s no tomorrow. But deep inside, I really don’t know how to achieve that goal. I don’t have a single idea how to get RICH!
