It's Time!

I am 23 years old and I have started investing in Mutual Funds. I believe that you should start early so that your funds will accumulate in the future. Most people at my age don’t usually think about securing their future or financial planning. Read the rest of this entry »

Being family oriented, we Filipinos usually do what it takes to help and support our family and relatives. In the process, we overlook our own needs — leaving very little for our own future. I realized that long-term, this is a win-lose solution and it’s time to change the way we think we are helping others.
Read the rest of this entry »

Disaster response should be quick, resolute, and almost instinctive in its precision. Aside from emergency kits, there is another important yet often overlooked provision that is best secured and accessible at all times.

Below is a handy model upon which to pattern your own personal list:

SAVINGS

• Is your ATM card, credit card, and bankbook tucked in your wallet or placed somewhere easily accessible?
• Is your account number jotted down or saved in your mobile phone or handheld gadget?
• Are you aware of how much disposable income (cash you can withdraw) you have stashed away?
• More importantly, do your accounts always have available and withdrawable balances? Are you able to keep your credit cards within limits and not always maxed out?
• Do you have the hot line (almost always toll free) number of your bank?

INSURANCE

• Are important insurance papers such as your policy contract properly stored, where it is safe from fire, flood, and earthquake?
• Is your insurance coverage up to date? Are your premiums updated?
• Do you have the contact information of your financial advisor and the company where you purchased your plan?

INVESTMENT

• Are proofs of your investment tucked away in a safe place, like a safety deposit box?
• Can you immediately liquidate your portfolio in case of extreme need? Try to strike a balance between assets that are easy to liquidate and those that take time to convert to cash.
• Are you familiar with your portfolio so that you can minimize, if not avoid losses when you need to redeem?
• Do you have the contact information of your financial advisor and the companies where you bought your shares?

Make sure you have these information at hand. Make your list. Post it in your wall. Keep it in your pocket. Place it on your refrigerator. After all, prevention is crucial, but preparation is essential.

The past week has been more than a rude awakening, not just for me but of a whole nation as well. As typhoons Ondoy and Pepeng wreaked havoc in Northern Luzon, Manila and nearby provinces, past mistakes and shortcomings all came rushing in, like the uncontrollable currents of the September 26 flood.

Everyone has an Ondoy or Pepeng story to tell, including me, but I choose to be forward-looking. As we slowly recover from the trauma, physical exhaustion and material loss, lessons and realizations are now being uncovered.

Rude awakening: How prepared are we in the face of calamities and similar emergencies?

Sure, natural disasters and crises contain a potent factor that leaves many of us dumbfounded. More than the soaked gadgets and shoes buried in melted Cadbury-like mud and murk, most of the damage is emotional.

Whether you are in the middle of things or from the outside looking in, helplessness is enough to dampen the spirit.

Not-so-rude-awakening: The three P’s – Primed, Prepared, and Protected — are not impossibilities.

Let’s face it: nothing can prevent nor pre-empt the negative effects of shock. But once we regain our bearings, what I like to call the three P’s can immediately help us spring back into action.

1. PRIMED means to be informed and knowledgeable of the situation. Someone from PAG-ASA summed it perfectly: Instead of watching telenovelas, watch the news. Indeed, knowledge is power. Being in the know alleviates and somehow relieves the tension that we feel when caught off guard. Also, the right information can help guide us on what to do next.

2. PREPARED pertains to all the measures you could have done beforehand. Included are emergency kits (clothes, transistor radio, ready-to-eat food, water, fully-charged and loaded mobile phones, jacket, blanket, medicines and cash), list of important addresses and contact numbers, as well as a drawn-up plan for responding to emergencies.

3. PROTECTION gives you the ability to recuperate and return to your life before its unfortunate disruption. These are the intangibles: insurance (life, non-life, pre-need), savings, and investments that you can easily convert to hard cash and fuel your new beginning.

However, the most pressing issue transcends our personal recovery. While many of us pick up the pieces after the storm, some don’t have pieces to pick up at all, literally. Thus, donations, in the form of relief goods or one’s own time spent volunteering, are urgently needed. The Philippine National Red Cross (www.redcross.org.ph), Citizens’ Disaster Response Center (http://www.cdrc-phil.org/program.HTM) and World Vision (www.worldvision.org.ph) are just several examples of groups that give assistance to victims and opportunities to those who want to lend a helping hand.

Yes, it’s important to be primed, prepared, and protected. But to be able to contribute to rebuilding efforts can also make the greatest difference in the face of such destruction.

Preparing for a financially secured future can be quite overwhelming. But for starters, there is an easier way to go about it.

This is a Product Solutions Chart designed by Sun Life Financial to guide you in identifying your financial needs and priorities. It also suggests solutions to address each need and gives you advise on how to turn your plans into action.

CLICK HERE TO VIEW THE FULL SIZE OF THE PRODUCT SOLUTIONS CHART