Before the big financial shakedown, money issues dwell on the shadows of sensitive and taboo topics. There was no urgency to put one’s financial house in order, until Filipinos realized that anyone could fall victim to bad money management and bankruptcy.

Financial advice and useful tips abound, together with a troop of dedicated experts who carries the mission of financial freedom to heart. Given our own unique situations, a financial advisor can help make sense of the jargon and lay out the best strategy to make our money work for us.

If you are looking for a financial life partner, here are five traits you should look for:

1. References
How did you know him? What are his credentials? You wouldn’t entrust your wallet to a stranger, much so your wealth portfolio. A good referral, either from friends or relatives, is helpful. However, familiarity should not be your only basis in choosing a financial advisor.

2. History
A financial advisor is affiliated with a financial service company. Looking beyond the person, know more about the background of his association: long-term growth, historical performance, even brushes with authority. His connection is his family, and you sure want to know his heritage.

3. Values
The values of a financial advisor go two ways: personal upbringing and his corporate culture. No matter how dignified and upright he is, if he chooses to be identified with a dishonest and incompetent crowd then it’s time to dump him and find a new partner.

4. Knowledge
After the background check, you should buckle down to check on how proficient and familiar he is with his stuff. Ask questions, let him explain theories in simple terms, and take in as much learning as you can. A good financial advisor is also a sage who can inspire a lifestyle change.

5. Trust
Trust is a tricky thing. It is chemistry: if you don’t have it, then you ain’t got it. And it does not stop there. Trust should be sustained, and earned at every instance. Your financial advisor should be able to trust your sincerity to take care of your money, in the same way that you are confident of his abilities and intentions.

I. Savings » A Sustainable Bank Accounts

Proper partition of income and allowances is key to a bank account that actually grows, not merely dwindle. Here’s a simple equation:

Income – Savings = Expenditure

Or if you want to be snide about it:

Reality – Delusion x Sacrifices = Money for a Rainy day

Cutting corners is a good step towards liquidity. Substitute brand name products (clothes, food, even shoes) for cheaper alternatives. Living within one’s means should not equate to a vow of poverty. It’s more like allocating your resources properly, instead of wasting too much on unnecessary stuff.

II. Investments » Make Money Work For You

A crusade to the stock market may be cheaper nowadays, but it is not for the faint of heart. To know your investment appetite, use this formula:

Disposable Cash / Risks = Investment Appetite (Low, Average, High)

Taking in your Investment Appetite, identify your kind of mutual fund:

Investment Appetite + Purpose = Your Mutual Fund

Mutual funds are perfect for financially naïve investors, which accounts for everyone but those from the financial service sector. You not only let your money work for you, but you get the wisdom of an investment manager for a fraction of the cost.

III. Insurance » Living Protection

Long has it been established that insurance is for the living, not for the dead. Before your own financial grave starts getting deeper, keep this in mind:

Beneficiaries x Dreams = Insurance Policy

Of course, if you’re feeling a wee bit selfish:

Personal Worth / Beneficiaries = Insurance Policy

Insurance policies have already adapted to the changing times, where consumers need not wait a lifetime to enjoy its benefits. Whether you want long-term or short-term, traditional or laced with investments, you can easily find the perfect fit for your dreams.

IV. Health Plan » Best Medicine

An apple a day may keep the doctor away, and a reliable medical plan can stave off monetary destitution. Prove that your health is wealth by:

Lifestyle x History (Dependents) = Health Plan

But if a scare tactic is what drives your determination:

Vices + Virtues / Responsibilities = Health Plan

Hospital bills can easily eat up your rainy day fund. Diagnostic exams can also put a big dent to your budget. And we’re still not talking about emergency procedures due to accidents. Save your loved ones from these woes by availing of a health plan that suits your lifestyle.

V. Retirement » All of the Above

Your nest egg is that comfortable place in the not-so-far future, where the knees are weak but the pockets are still deep. No matter what equation you choose to adapt, you can finally achieve:

Savings + Investment + Insurance / Health Plan = Security

Oh for goodness sake’s, here’s a more truthful formulation:

Life – Savings – Investment – Insurance – Health Plan = Insecure You

My father is Superman to me. He is strong, generous, and witty. Then one night, he just slipped. Like gravity finally sucked him in. It was the first time I saw him in a hospital bed. The years finally caught up with Superman.

As kids, we know the flight plan of our future: get a job, move out, maybe start a family. But we turn a blind eye to the imminent stopovers. And more often than not, it includes taking care of Superman whose suit is fading.

What to do, you ask? Before reality bites you, kid, educate yourself about your family’s financial stature. Be in the know. Meddle. Better yet, turn everything into joint accounts – because it pays to be armed and prepared when super heroes hit the ground.

Pa, where is your money?

Come on, we are no longer money-starved college kids who pad our tuition fees every semester. Sit down with your parents, put on a serious face, and share with each other your money chests. Passbook accounts, ATMs, nuclear-powered piggy banks – divulge everything.

Ma, how is your insurance?

Woe is you if your parents are not even PhilHealth members. Let’s face it: treatment is so expensive it may well be a luxury. So get an insurance policy if you still don’t have one. And beef up your health coverage. The many years your parents waited for you to come home late at night led to brittle bones and tired heart. It’s payback time.

Dad, what are our properties?

Is this house we are living in already ours, or will tito and tita ask for their share? Are you in debt? Is that earring really worth something, or will the pawnshop laugh at my face? Are you starting to get annoyed? Good. Less drama when the real emergency comes screeching in.

Funeral plans, anyone?

It’s morbid, not to mention a thankless job. Still, someone’s got to do it. Blame it on the cycle of life. Delay it for a few days. But arrange these things beforehand. Because the hardest part of being an adult is to control the things you can, while letting go of the things you can’t.

In fact, money is one of the most useful motivations in a movie plot. Given the powerful vision that this art form can create, why not use it as a springboard for financial discussion? If movies imitate life, then heed the financial triumphs that these films portray.

1. Notting Hill: a wise investment

Source: wikipedia.org

Even at the start, the romance between a small bookstore owner and a global superstar is cursed to oblivion. Imagine looking at their bank accounts, and you can easily see the great social divide. But in a reverse Cinderella twist, love conquered the cash flow through compromise and genuine affection. Also heartfelt is the big investment they made as a couple: the park where their relationship first blossomed.

Lesson: Money may be where the heart is, after all.

2. Anak: the danger of being unprepared

Source: wikipedia.org

Essentially a commentary about the OFW phenomenon, this film actually mirrors the endless tribulations of a returning hero. Striking is the scene where the former OFW stares at her depleting savings – a possibility made real by unsustainable business decisions. She may have prepared for it, but she never expected the extent of loss she has to

Lesson: An ounce of financial planning always beats a pound of cure.

3. The Godfather: build valuable networks

Source: wikipedia

The most endearing quality of Don Vito Corleone and company is their undying commitment to family, even if it involves violence and prosecution. But beyond the bloodbath, there is wisdom in knowing who your priorities are. And even our very own culture values close-knit ties, where the bad effects are often overshadowed by its positive consequences.

Lesson: Family trumps even the most profitable business interest.

4. Slumdog Millionaire: as the universe conspires

Source: wikipedia.org

It may be the typical rags-to-riches story, the equivalent of serendipity when it comes to financial destiny. Still, this film harps on a gospel truth: seek and you shall find. Sure, the stars may have aligned for that fateful moment of answering the million-dollar question. Yet no one can deny how much he worked hard to finally land such an opportunity.

Lesson: Heed it, and it shall be found.

5. The Pursuit of Happyness: take a leap of faith

Source: wikipedia.org

Admittedly, it is hard to imagine the depths of deprivation until one gets trapped in the rabbit hole of lost chances. But the difference in every tribulation lies in the attitude, and this is exactly what the movie celebrates. Can you imagine if he did not run the last few miles in order to attend his job interview? And at the end, it is such a relief to know that money is only a fraction of the equation.

Lesson: When hope springs eternal, so shall the river of financial opportunities.

1.) Know how it works
Among all the various financial needs that we have, retirement savings is the most challenging one to plan and execute, simply because of the time element and the uncertainty associated with longer period.

Typically retirement savings focuses on two stages. The first one is the accumulation phase, wherein you build a lump-sum amount before your desired retirement age. The objective of this stage is to generate above average returns. The second stage is the actual retirement phase, wherein you focus on generating steady returns.

2.) Determine how much you need
The thumb rule for establishing your retirement nest is as simple as taking into consideration your annual household expenses and dividing it by the interest rate you generate from bank deposits.

For example, if our monthly household expense is Php 50,000, our annual household expense is Php 600,000. Divide it by 3%, the prevailing deposit rate, we will come up with Php 20 million. In other words, if we have Php 20 million today, we can place in bank deposit at 3% interest rate and generate Php 50,000 every month and carry on our livelihood.

3.) Consider the impact of inflation and interest

The real challenge to retirement savings comes when we have to make assumptions on what will be our monthly household expenses come retirement and what will be the rate of return we can generate from our savings.

To keep it easy and simple, if our lump-sum requirement for retirement is Php 20 million in today’s scenario, we need to add up the rate of inflation, let’s say 5% for every year from now to the targeted retirement age. In our example above, the lump-sum amount that we need to build towards retirement if we were to retire after 20 years is Php 53,065,654.10.

These factors are being taken into account to make sure that the long-term return that we are to generate from our savings is well above the rate of inflation. If not, we will eventually be unable to maintain the purchasing power necessary to sustain us during the actual retirement phase. This aspect of maintaining or enhancing one’s purchasing power is critical to building a retirement fund.

4.) Identify your retirement savings options
Equities are perhaps the best-known form of investment. They are also known as shares, because they are literally, a share of ownership in the company that issues them. For this reason, prices tend to increase or decrease according to the profitability, assets and prospects of the issuing company.

Investing in Equities offers the greatest potential for an attractive return. In general, Equities can be expected to outperform other forms of investment in periods of rapid economic growth, when company profits rise. Hence, Equities are considered an important investment option for retirement savings, especially during the accumulation phase.

However, investing in equities can be quite difficult for many due to lack of time, knowledge, expertise and a large amount of money needed to achieve a diversified investment portfolio.

The good news is common investors can access these valuable investment opportunities at ease without the hurdles associated with directly investing into equities. Thanks to the availability of products like mutual funds and investment-linked insurance policies, everyone can now plan and execute their retirement plan.

5.) Review your retirement plan frequently
Given that we are making many assumptions in terms of inflation and interest rate, it is important that we review the plan and its progress from time to time and make requisite adjustments along the way. Consult a qualified professional who can help you draw up your retirement plan, identify your savings options and rebalance your retirement portfolio when necessary.

PHOTO CREDIT TO: MONEYSENSE

ABOUT THE AUTHOR
Naresh Krishnan is the Chief Operating Officer of Sun Life of Canada (Philippines), Inc. He has 20 years experience in the financial services, Mutual Fund and Life Insurance industry gained from his extensive experience in India, Indonesia and the Philippines. Starting his career in the Indian financial services industry, he played a pioneering role in introducing bank distribution of mutual funds. In Indonesia, he spearheaded wealth management, bancassurance and corporate distribution divisions for a life insurer. Prior to joining Sun Life Financial in the Philippines in January 2010, he was the President and CEO of a joint venture bancassurance company. In his current capacity at Sun Life Financial, he spearheads the various distribution channels and the mutual funds business.

In one Pugad Baboy’s strip, the characters Bab and Igno were dining in an expensive restaurant. Bab had just won a bet in cock-fighting and they were celebrating. When Igno expressed doubts over their capability to pay for their orders, Bab explained that his prize money was P300,000.00 and they are entitled to splurge everything (note: everything).The strip reflects the sentiment of the creator Pol Medina and I thought he captured the idea very well. Majority of the Filipinos love to do a one-day splurging and the strip was this representation. Not all will be fortunate to win in gambling but those who do usually spend everything rather quickly; treating the whole barangay to a drinking spree to celebrate his good fortune. After that, he goes back to either bumming around or doing his dreadful work and relishes on the good time he had the night before and hoping and praying he wins again.

More often, salaried employees do a lot of shopping after receiving their salary. Yes, some are actually legitimate purchases but a lot of times it is to purchase some not-so-important stuffs; stuffs that we actually can live without.

I remember one time my dad suspended three-fourths of his staffs in his restaurant. The reason: they had a big drinking session when they got paid and were not able to go to work the very next day because of hangover. That was 15 years ago. The mentality has not changed and most of the Filipinos are still stuck in the very race they wanted to get out of.

Perhaps, we often feel deprived of things and splurging is one of those times that we feel we are rewarded for the hard work we did. But remember this: living rich one day today may not let you live rich tomorrow.

The mentality should change soon and perhaps then a more applicable strip will be created:

Bab: Nanalo ako sa sabong!

Igno: Halika, mag-inuman tayo to celebrate!

Bab: Naku, tsaka nalang. Iipon ko muna to. Hindi naman araw-araw may ganoong biyaya.

Igno: Sabagay, sayang rin nga lang naman kung uubusin natin yan sa isang gabi lang. Tama yan ginagawa mo, Bab!

by: Kendrick Chua, CIS, The Wealth Warrior

We all make money mistakes once in a while and in my years of financial planning practice, I have come to realize the 10 Money Mistakes people often commit.

1.)    Spending all income. I know of people who spend their income down to the last peso the day before their payday. It’s as if they can’t stand having the money carried over to the next payday. As a result, when a glitch in accounting system delayed the pay, the solution: cash advance or buy on credit.

2.)    Spending more than you earn. What is worse than spending all your income? It’s spending more than what you earn. So if the cash runs out days before the next batch of funds come in, the result is incurring debt. You can always be a free-loader but then you won’t have any friends left.

3.)    Paying only the minimum amount due on the balance. Some credit card companies allow you to pay only 5% of your amount due and people take advantage of this much to the delight of these companies. It’s okay if you really don’t have the cash at the moment but don’t do it every so often. You’ll dig a hole so dip even the devil will have a hard time climbing out.

4.) Not getting life insurance early. In one of my previous posts, I mentioned that the best time to buy life insurance is when you don’t need it. I repeat: when you don’t need it. When you’re young and healthy (hopefully) your premiums are low, your accumulation rate is longer and you can fully-paid up the insurance earlier.

5.)    Not investing early for retirement. One of the 7 habits Covey taught is to “Begin with the End in Mind”. Once you start working, prepare for your retirement. You can never plan too early for this stage. Aim to belong to the 3% Filipinos who are either financially independent or wealthy at age 65. The rest of the 97% are dead, still working or dependent on charity. Choose your side and choose it wisely.

6.)    Not investing aggressively while still young. Some of the baby boomers I have talked to regretted that not only did they not start investing early, they did not invest aggressively. Now, even if they do want to, they cannot afford to invest as aggressively as they would want to. Follow their advice, start young and start aggressive.

7.) Not planning for major financial obligations. Giving birth is not an emergency. It is something being prepared for. Nine months is a good duration to set up enough funds for it. Same goes with education and wedding. Prepare well financially. It can let you enjoy the fruits more.

8.)    Not doing proper research before investing. Some people happen to be scammed more than others. No it is not bad luck as they always thin. Rather, it is the gullibility that resulted from lack of proper research before getting into the investment or joining the company.

9.) Not preparing for rainy days a.k.a. not saving. At some points in our working career, emergencies and unexpected financial circumstances will happen: getting laid off, getting sick and hospitalized, etc.  Although not often, but they are bound to happen. Not having a contingency fund is planning a project without a plan B. You need to have an emergency fund to prepare you for these “disasters”. Otherwise, you’ll be left with no choice but to borrow and be in debt. A good rule of thumb is having three to six months worth of cash easily accessible.

10.) Not giving back to the Lord. This may well be the biggest financial mistake. The Lord, in all His graciousness, provided for all our needs and at times, even some wants. Isn’t it just right we give a part back to him through our tithes and offerings? Seriously, the Lord doesn’t need our money but it is our own way of submitting and thanking Him for all the blessings we are receiving bountifully. The Lord did promise that when we offer Him the first fruits of our labor, he will provide us with blessings so full, we won’t even have enough containers to store them.

Bonus

11.) Not having hospitalization or medical insurance. The paradox of medical insurance is that you need to get sick and hospitalize for you to find this investment worthwhile. But it is better that you have one and not use it at all rather than having none and need to have one. It will greatly mitigate a lot of your expenses which can be allocated for other purposes.

Ask anyone what trait defines Chinese the most and you’ll likely get one of these two answers—rich or cheap. To a certain extent, the answers are accurate. After all, despite accounting for only 2% of the total Philippine population, seven out of the ten richest Filipinos are of Chinese descent. Although most Chinese will not plead guilty, it has what defined this race based on the society’s perception. It has what defined me.

Society has identified Chinese as being cheap for the longest time. Having personally been ridiculed as one, I’d like to believe that the Chinese are above this stigma. We are frugal and if that’s a euphemism for the adjective then so be it. We look at the value of a commodity rather than its price. It is simply a trait we have been accustomed to.

Recently, I traveled with a group of Chinese Filipinos and in one of our shopping activities, several of them bought Rolex watches. They reasoned that the price was much cheaper compared to the ones being sold here. They certainly had the money but the same group is contented in flying economy class and seating in cramped seats hardly getting any sleep on the red eye flight home. They find value in the first and none in the second.

Perhaps this has its roots from our forefathers who came to the Philippines several decades back. Being in a foreign land, they just had to fend for themselves and saved whatever they can here to send back home, similar to our present-day OFWs. Thus, they had hardly any room for frivolous spending.

The Chinese persistent adherence to the idea of “saving” became the corner stone for their financial success. Long before financial planning was coined, the Chinese were already practicing it albeit informally. Present money management advises us to save 10-20% of our income. The Chinese would have none of it; saving at the very least 50% and living on the rest. In fact, my mom prodigiously saves 70% of her income—a practice she did for the past thirty years. She led by example, we, her children, learned by example.

And it is a not a wonder that the Chinese do not flash their wealth through material things. A lot are contented in driving boring vehicles and living in ordinary homes both which do not justify and reflect how much they are really worth. For them, their comforts and security lies in the fact that they have fat bank accounts.

A monk residing here once told me that the Chinese fear the uncertainty of the future and that is why they prepare very well for it. They know how to look at the bigger picture and anticipate problems long before they occur. It may well be a Confucian value we inherited as the great sage said, “In times of peace, prepare for war.” To put things in perspective, “in times of abundance, prepare for scarcity.”

While the Chinese may be experts in saving, they very well know that this alone won’t make them financially successful. They need to make it grow. This necessity has fired up the entrepreneurial spirits of the Chinese building businesses one after the other. Although majority of the business owners run dull businesses: auto-supply, hardware, printing, textile and garments, trading among others, these have proven to be great investments. Nothing really glamorous in them yet, these businesses are generally responsible for the wealth the Chinese now enjoy.

Yet those who may not be as entrepreneurial have not allowed themselves to be left behind. They looked for other viable investments to make their money grow. And this includes being highly meticulous about interest rates for their deposits, literally shopping from one bank to another. While interest rates may vary little, as small as 0.5%; this difference multiplied by the millions and millions each Chinese possesses becomes a significant number.

Aside from these, the Chinese pride themselves for being debt-free. They avoid it like plaque. Rarely will the Chinese borrow money from friends or even relatives. It is a shame to do so and to be in one. If the inevitable happen that they do need to borrow money, they’d pay the whole thing off as soon as possible. Failure to do so is even more shameful. They wouldn’t dare tarnish their good name.

From the time our ancestors first settled here up until this very moment, our money management philosophies remained unchanged. Even the consumption-mentality of the West did little to influence the quality that has defined us. Our identity held its own. We will continue to be perceived this way—“rich” and “cheap”. But behind all those admirations and labels, lies the dedication of the Chinese in pursuing financial success.

“Save a little each day, every day and see small things grow big,” says Bam Aquino, a social entrepreneur in a Sun Life advertisement. Yet, long before those words were popularized in a television commercial, the Japanese were already living that principle, which they called, Kaizen.

Kaizen came from two words, “Kai” which means to change and “Zen” which means for the better. Both words embody the philosophy of making continuous improvements in all aspects of life.

With a GDP of $5 trillion dollars, Japan is the world’s second largest economy next to the United States. Yet Japan didn’t achieve its status as a global economic leader dramatically; it took them 60 long years to recover and rebuild their country from the ravages of the Second World War. And one of the crucial factors that made Japan’s momentous growth possible was the application of Kaizen, a strong desire to be better and to be the best.

The principle of continuous improvement can likewise be applied in financial planning. So diverse is the field that we can always find something to improve on. In asset allocation for instance, portfolios can be regularly rebalanced for us to maximize gains and opportunities and minimize losses and risks. In debt management we can look for institutions that offer lower interests and more flexible terms. And in financial literacy, we can be wiser and smarter about the environment today than yesterday.

One of my greatest frustrations as a financial planner is that most of the people I have talked to do not want to undergo the process of financial planning. They feel it’s boring, old-fashioned and down-right slow. Guess what? They are right. It is boring, old-fashion and down-right slow! That’s why it is effective.

But for the others who heeded the advice, reaped the rewards. One of my clients, Celine Salazar a single mother of two who works in the training and development department of a business process outsourcing company started 2009 with nothing in savings. But I worked with her through a formal financial plan. She diligently saved P2,000.00 pesos every pay day. Within a year, her savings grew to more than P50,000.00 pesos. Considering all her obligations and the environment she is in, it was a great accomplishment.

Salazar will be the first to agree that it wasn’t an overnight success. It did take her quite awhile to accumulate that amount. But she was steadfast in her commitment and even when she was on maternity leave, she still saved that up. Two thousand may not be much, yes. But when added to the other two thousand pesos she saved before, it becomes significant.

Then there’s another client of mine who invests regularly in mutual funds. Not even the financial crisis that struck the world two years ago stopped him from investing. As a result of this practice, he was able to buy shares at lower prices. The result: huge gains when the market rebounded!

The Kaizen principle can also help us in being keener in spotting opportunities to make our money grow…legitimately.

Mr. Randell Tiongson, one of the most respected financial planners in the Philippines noted this paradox, “For a conservative country like the Philippines, a lot of people are getting scammed.”

True. Several years ago, a financial organization was offering lucrative returns for its investors. Enticed by the potential of growing money exponentially, a lot were lured into it. Despite tell-tale signs of it being a pyramiding scheme, nobody bothered questioning its legitimacy. As long as the investors were paid, everyone was happy.

A crackdown ensued and it was proven that the institution was indeed a scam. When the dust settled, the investors were bewildered. The masterminds were nowhere to be found taking with them millions and millions of pesos along with the dreams of the investors.

Several years after, another organization offered the same thing. Although it was a Ponzi scheme instead, the result was the same: investors lost money.

Financial planning never advocated get-rich quick schemes but rather a consistent saving and investing approach to achieve financial independence.

Kaizen is all about improvements, no matter how small, are still improvements. Vincent Van Gogh once said, “Great things are not done by impulse but by a series of small things brought together.”

The philosophy is applicable to money management as it is to any facet. Even if one is contented with his or her financial status, there is always a way to improve it further, to make it better; to look for a higher yielding investment, to spend a little less, to save a little more and to dream a bigger dream.

I’ve always been a segurista.

I am never without an umbrella. The thought of traipsing all over the city in a pantsuit, oops, wet pantsuit, was never appealing to me. That or have a driver at my beck and call —-

then again, an umbrella is much more doable.

I am never without stocks of candles, instant food, batteries and flashlights. The rainy season in this country almost always translate to floods and brownouts.

I can probably go on with no TV but not without light. Or sustenance.

My OCD (Obsessive Compulsive Disorder) starts to kick in every time June starts. Rains and floods can be inconvenient, but their effects are a real pain. It is in these times that I begin inspecting my house’s ceilings for possible leaks as well as electric connections in danger of being damaged by rains.

What is my point, you ask? In a chitchat with friends over dinner last Friday, I realized that no matter how much effort you put into preparing, there are things you just can’t prepare for overnight. It was enough to throw me in into a fit of panic.

You see, my friend Anya recently got married. As they have slowly been easing into the cozy comfort of married life, my friend got pregnant and is now nearly the mother of a baby boy. She started talking about the expected expenses of having a kid. So I nonchalantly asked where she intended to send the baby to school. Since the dad was an Atenean, she said, the kid would have to go there, too.

Me: Would you need to sell everything by then when Siopito [my nickname for her little boy] goes to school

Anya chucked me a brochure with a charming kid’s face on it.

Anya: No, silly. We have a plan.

Me: How do you plan for something like that? Do you now how much tuition fees increase every year?!

Anya: Well, I came across Sun MaxiLink Bright, a real life-saver. First, It provides life insurance protection so at least my baby is secure no matter what happens to me,. then, it enhances my money’s growth potential so by the time Siopito has to go to school, I would have accumulated funds to cover his education

Me: [Here is the part where I sink in to a state of panic.] Gosh! I only have a number of years before I myself settle down and have a kid of my own to send to school! Is it too late for me?

Anya: When you finally have a kid of your own, you too can save for his college education through Sun MaxiLink Bright. It’s payable for as short as at least five years…so, no, it’s really not too late for you.

Me: [sighs] But it’s never too early to start either, right? Since I’m bent on having my own baby anyway, I might as well get a Sun MaxiLink Bright myself! And right away, too!

Now I know what the word segurista really means. Ultimately, it’s really about preparing for rainy days (literally and figuratively).