When I shared my stock market investment to one of my friend here in New Zealand, by the way, I am currently a resident of New Zealand but I was able to buy stocks from the Philippines. Some of you might ask, why am I still investing in the Philippines stock market to think that I can already enter the stock market in New Zealand. The main reason, it will be too risky for me because I don't know somebody here who can tell me what companies should I buy shares with unlike in the Philippines I have the TrulyRich Club and Bro. Bo Sanchez who can teach me how to grow my investment in the stock market.
Now going back to my friend to whom I shared my stock market investment journey. She asked me if she can still invest in the Philippines stock market, she told me she didn't apply for a dual citizenship when she got her New Zealand citizenship, meaning to say she is no longer a Filipino national and will be considered as non-resident foreigner in the Philippines. I informed her that she can still invest but there will be some limitations on the stocks that she can buy. That is why I encouraged her to renew her Philippines passport to her advantage.
And for the benefit of those who want to know if they can also invest in the Philippines Stock Market, below are the list of people that are considered:
A. Filipino Citizen. This refers to the Filipino people living in the Philippines and overseas Filipinos around the world.
B. Resident Foreigner. This is a non-Filipino citizen who is temporarily or permanently residing in the Philippines.
C. Non-Resident Foreigner. This is either a non-Filipino citizen or is a citizen of other country.
I hope that the information I presented above helps you in some ways.
P.S. If you want to start your stock market investment, click here. This will prompt you to the other page and will help you decide if you want to gain financial wealth and spiritual abundance.
"The future depends on what you do today" - Mahatma Gandhi
Saturday, July 19, 2014
Monday, July 14, 2014
Double Your Money! The Rule of 72...
What is the Rule of 72?
The Rule of 72 determines how long a certain investment will take to double at a fixed annual interest rate. You can roughly estimate how many years it will take for your initial investment to duplicate by dividing 72 into the annual rate of return.For example, at an annual rate of return of 12% it will take 6 years to double your money, see calculations below;
72 / 12% = 6 years
Using the formula above, if you put your money in the bank with 1% annual rate of return you will need 72 years to double that money. Oh my!
For comparison, let's say you have an initial investment of Php100,000. You are ask to choose what annual rate of return you want to receive, you are given 4%, 8% and 12%. Looking at the table below you can compare how many years will it take to double your money;
Did you notice the difference between Php400,000 at 4% rate of return with that of 12% when you reach the age of 61, it's Php6,000,000. That's is equivalent to 20 years salary of a person earning Php300,000 per year or Php25,000 monthly.
The Wider Perspective
For some people, the number of years to double their money seems like a long waiting time. Somehow, it is, but this is where the power of compounding interest comes in. Albert Einstein once quoted, "Compound Interest is the eight wonder of the world. He who understands it, earns it...he who doesn't, pays it."Looking at the above table again, at 12% annual interest rate you've invested Php100,000 and by the time you reach the age of 61 you already have Php6.4 Million, not bad at all.
And here's the catch, if you add more money to your Php100,000 continuously, the rate of compounding immensely increases.
P.S.
If you are interested in investing in the Stock Market, join me in the TrulyRichClub.
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