A few months ago, we had a quick review of our portfolio from 2021 and 2022.
It was such a long and painful journey to establish the stepping stones for the things we will list below.
From quitting my full-time PR and marketing job to being a full-time insurance advisor and occasional feature writer, the road was not a smooth one. But it trained me to be smart with how I spend my money and energy.
The items listed below are just SOME of the things you can invest in even with a rookie salary (or even if you’re not yet a manager). But remember, there are other things you can spend on, too. And this is a guide for when you have EXTRA money AFTER you have settled your personal and family obligations.
FULL video outlining our current milestones here.
1. Save in a Bank
Choose a bank so you can have a space place for money you will use within a short time frame. This is best for your daily needs, money for bills, and urgent things you need to settle. It has a low-interest rate though at less than 1%, so if you want your money to grow, you can continue reading.
2. Variable Unit-linked Insurance
My first Sun Life plan was the MaxiLink Prime. I got it when I was still new in the workforce. I liked it then because it has guaranteed life insurance PLUS non-guaranteed investments which can grow from the interest rate can range from 4-8% (lower or higher) depending on the fund's performance.
3. HMO / health card
Now that I am a full-time salesperson, I had to look for my family’s health care coverage. This is SUPER expensive, but I have no choice but to get one because I can’t risk being sick without the medical coverage this provides (such as subsidized checkups, lab tests, and confinement).
Piolo Pascual as the face of Sun Life SUN Fit and Well
4. Health Insurance
While my health card can provide subsidized checkups, lab tests, and confinement cash-outs, I knew I needed coverage in times of critical illness. Health cards do not typically give a lump sum upon diagnosis, so I liked the Sun Fit and Well Advantage and got it as my next insurance plan.
It covers more than 100 critical illnesses AND also earns dividends. Aside from this, you can also choose the 10, 15, or 20-year to-pay option and be covered until age 100!
If you want to check how much a plan like this costs for your specific age, send us a message or set up a quick chat.
5. COL Financial
If you want pure investments in stocks, you can create an account in COL Financial. The minimum investment is P1000 but you get to choose which company you want to invest in. Recently, my stocks from COSCO already gave out cash dividends.
6. PAG-IBIG MP2
If you want something with a more stable and relatively high-interest rate, then MP2 is good for you. Think of it as saving money in MP2 and having it there for at least 5 years while it continues to earn interest (which varies per year but hopefully will not be 0%). Be sure to check your member number from PAG IBIG before creating an account because the site
will ask for it.
7. Digital Banking
For an account, you can use a traditional bank (park your money and withdraw easily) BUT with a bonus of a high-interest rate, you can use digital banking. I use CIMB because I trust the brand. Side note, I was selected as one of the Philippine representatives to Malaysia back in college. They used to do Young ASEAN Leaders Summit and I was fortunate enough to be part of it!
When I finally used the app, I was able to receive the interest rates that they advertised, more than 2% each month!
8. Phil Health, SSS, and other government-related financial vehicles
If you already have accounts from these, be sure to check with your finance or HR department to see if the salary deductions made from your contributions are truly remitted. You can set an appointment or walk into the government offices involved to have a quick check-in with your account.
9.Property
With the help of my boyfriend, we were able to secure our first property. The process was a bit confusing since we got a loan from a bank but they did not cover the full amount. So we will pay the rest in cash to the developer. This is a good first step for people who want to move out. Your first house does not need to be super big, as long as it’s safe and you can call it your own, it’s what matters.
10. Traditional Insurance Plan
I’m putting this last as this is the latest addition to my portfolio. Since I have a property to look after, I do not want it to be repossessed by the bank if I suddenly pass. I got the Sun Smarter Life Classic so I can have a counterbalance insurance plan for my VUL. This new plan earns dividends from Sun Life. I liked that part, too.
Should you want to learn more about ANY or ALL of these, how we did it, and how we pay for it, please send us a message!
About France Afulugencia
Coach France is a Sun Life Macaulay Club member (Sun Life's elite advisors all over the country). A personal finance advocate, she dreams of helping clients achieve their personal goals through habit building. She graduated magna cum laude from the University of Santo Tomas and worked as a senior marketing and public relations associate before being a full-time financial advisor.
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