I've been into finances for 3 years now and I have met a lot of people who are into sales and marketing. Admit it. Money comes from sales and marketing. There is nothing to be afraid of these people because in reality they are the best resource speakers when it comes to money matters.
I encourage everyone to attend seminars that will teach you how to handle finances. That is where I started. But be very careful about the information you are getting from them. They may seem to know what they are doing but if you digest what they are saying you will realize they really don't understand what they are talking about.
I heard one "financial resource person" who is not an insurance believer. The irony of it was he admitted that his father and his sister are into the insurance business. He told everyone in the room that, "If you plan you actually don't need insurance." How can a resource speaker on finances don't recommend insurance? His opinion, if you can do it with investments then you don't need insurance. He also followed his statement with, "I cannot take it when I die." I want to follow up my question with, "What if he is the breadwinner of the family? Shouldn't he get one?" But I decided to shut up.
My advise, get insured before you start a family or if you are the breadwinner. The insurance coverage is not for you but your family. Remember, life is uncertain. And mind you, insurance is not a religion you need to believe in to.
I asked the speaker another question on where should we invest our savings. He said it depends on how much you have. He recommended that we look at the products of the banks. He told us we can do time deposits, bonds, and equities from INSURANCE PROVIDERS. So much irony.
My advise, it depends on your goal. We have the short term goals, mid-term goals and long-term goals. These goals should be matched with the right investment facilities. Adjust your lifestyle and set your mind to achieve these goals. Don't go t the banks if you want to invest. Go directly where the banks invest. What should stay in the bank is your emergency fund. Build your financial foundation right and seek mentors that will help you along the way. Don't just settle for one mentor. You need more mentors who are 2 levels higher than you. And if you want to open a mutual fund account, investigate first at icap.com.ph. Mind you, the ones he mentioned are not the top players in this game.
Disclaimer: We are all entitled to our own opinion. This is just my review.
~Till then.
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