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Can I Really be Financially Free? Tips on How to Create a Goal-oriented Investment Plan

Can I Really be Financially Free? Tips on How to Create a Goal-oriented Investment Plan

Am I financially free?

Every person dreams to become financially free.
But what is the definition of being financially free?

For me, to be financially free is to be free from debts and to be able to achieve your financial goals.

What are examples of financial goals?

Every Filipino will desire to have a home to call their own, a decent car and perhaps a retirement fund at the end of their career.

Other financial goals include:

  • Kids’ education
  • Travel and vacation
  • Dream business
  • Hobbies or passion

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How do I achieve my financial goals?


So if I have clearly written down all these financial goals I have in mind, how do I proceed?
It’s time you get to appreciate an Excel formula called PMT which will help you determine how much you need to save or invest every month.

Supposed you are 25 years old today. At age 30, you want to have a house and lot and a car. That means you have 5 years to save for those two goals. By age 40, you may choose to continue working, or retire early with a desired retirement fund of Php5M.

How to use PMT function: 

1. Determine the number of months you will be saving /investing for a desired goal.
For example, in the above table you need 5 years to accumulate Php500,000 as down payment for your dream residence. 5 years x 12 = 60 months.

2. Determine the required rate of return e.g. 10% via mutual fund investing.
Supposed we use a hypothetical return of 10%. After this exercise, you will be selecting the investment among an array of possibilities which will give you this required rate of return, or more.

3. Calculate required monthly investment using PMT function in Excel:
-PMT(0.83%,180,0,5000000,0) = 12,063.59
I have indicated a (-) sign before the PMT function since the result is a negative number.
This figure = Php12,063.59 is the amount of money you need to save monthly.

Now that you have created a goal-oriented investment plan, it’s time for you to be disciplined in sticking to your monthly savings and investing goals.

You can do it!

Did you enjoy this post? Share with friends and start your journey together!

Got questions? Email krissy@moneylifeblood.net.

Still lost? Email krissy@moneylifeblood.net.

Do you want to receive more tips and strategies from me on various investments? Subscribe for free here. (You will be directed to a site to log your email address. I will not share with anyone your private contact details

Krissy

P.S. Always check the latest posts at MoneyLifeBlood!

#FilipinoFinancialFreedom  #EveryFilipinoDeservesToBeFinanciallyFree                                

Happy learning!
*************************************************
 Side note: Get #CONQUER2017 Wealth Planner and change your life this 2017! To pre-order, simply deposit Php700 to BDO Idea School 008360049985. See more details here: http://myideaschool.com/product/conquer-2017-planner-pre-order/conquer2017planner

That ends our mini learning course on how to invest in Philippine stock market!

Every Filipino deserves to be financially free.

#FilipinoFinancialFreedom

*************************************************
 Every Filipino deserves to be financially free.

#FilipinoFinancialFreedom

Did you enjoy this post? Share with friends and start your journey together!

Got questions? Email krissy@moneylifeblood.net.

Still lost? Email krissy@moneylifeblood.net.

Do you want to receive more tips and strategies from me on various investments? Subscribe for free here. (You will be directed to a site to log your email address. I will not share with anyone your private contact details

Krissy

P.S. Always check the latest posts at MoneyLifeBlood!

#FilipinoFinancialFreedom  #EveryFilipinoDeservesToBeFinanciallyFree       

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Every Filipino deserves to be financially free.

100 Lessons. 10 Stages. 1 Goal. 

#FilipinoFinancialFreedom

I have a heart for people who cannot pay for seminars and are looking for free learning that is of quality. Yes, there are. You find them all in Youtube, personal finance blogs and sites.

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