Skip to main content

Retirement in the Philippines: Going against the grain

how can i retire comfortably

I started to think about retirement at age 36.  I don't know why but it was then that I realized that despite my good prospects for promotion in the near future and my steady stream of income from the investments that we were making, I just knew then that I needed to start my journey to financial stability and security.  

My son and my youngest was less than a year old then.  I computed in my mind that when he reached college at 18 years old, I would be around 55 years old by then.  I was unsure what I'd be by then.  Would I still be healthy enough to work?  Would we have enough savings to make sure that he has money for a decent college to go to?  Would he be intelligent enough to make it to UP to enjoy free tuition?  It was unsettling.  I felt I had to do something.  And so I realized that I wasn't even talking about retirement.  I was just thinking about Sam's college really.  

So it was then that I made my big leap to get a VUL.  I did not know much about it then but I studied it and made sure I would at least have enough after 15 years to ensure Sam's tuition at the very least.  It was just a start up policy with P1M insurance and a small Balanced investment which I would have to pay for 10 years.  Then I would need to let my money grow till Sam would be about a year in college.  If by that time I would not be able to work anymore, at least I am sure that I will not need to help from my older kids for his tuition.  Hannah will have already graduated by then at age 25.  But I promised myself that I will do my best not to ask money or support from my kids.  

Fast forward to today, I just have 3 years more to go to pay off my first VUL.  Ryan got his VUL at age 35 also in 2016 and he will already pay it off by June 2021, only 4 months from now since he got a 5-year paying period. That would have a 10 year waiting period to mature so as early as 2031, Ryan can already earmark that for Hannah for her post grad if she wants to pursue Medicine.  

I got another VUL at age 39 in 2018 which will I will may off in 2028.  I am earmarking that for 2033 if Joanna wants to pursue law school so she would have the option to become a full time law student.  

I am now 43 and I feel that I am just on thr prime of my career. We already added several investments including a house and lot from Crown Asia and a condo in pasig to ensure that we have income after we decide retire at age 58. I dream of travelling the world, checking off my bucketlists and spending the rest of my days serving the Lord.

I praise God for the strength and the wisdom he gave us to allow us to plan ahead. He is truly our Jehavah Jireh, our God who provides.



Labels:
Location: Antipolo, Rizal, Philippines

Comments

Post a Comment

Thank you for your comments! God bless!

Popular posts from this blog

Milleneals were able to save during the pandemic and they need to invest now

I got invited by people from Vista Residences to talk about Investing Tips for Millleneals.  This will happen on Dec 1 via their Official facebook account.  Please see here to registration link. https://www.vistaresidences.com.ph/  https://www.facebook.com/VistaResidencesOfficial/posts/3825522130801187 As I was mulling over the topic for my talk, I needed to do some research on this generation which has been misjudged and misunderstood by the older gen, including mine (Gen X).  But as I conclude my deck, I realized that every generation has gone through that stage in life where self-realization is a foremost need.  Sometimes more than financial stability, the need to find the self is I think one of the most important ideals for the said Gen Y.  This is evidenced by its high level of patronage of travel promos and DIY get away trips by most of the middle class even those belonging to the lower middle class.  I remember one of my staff in the office tel...
Post a Comment
Read more

Number 1 Restaurant: an unsolicited review

I just had to write about this great new family resto we've been liking since we found it! I'm not sure if they have other branches but I do pray they expand soon. I'm talking about a place called Number 1 Reataurant located at SM East Ortigas. First of all, I don't even know what type of restaurant it is because of the wide and i mean wiiiide array of choices that it offers. It's like a Jollibee, Tokyo tokyo, Bonchon and Mang Inasal rolled into one! Amazing! Second, the food is good. I can't say it's exceptional but it more than ok for a fast food joint. And lastly, the price is awesomely affordable! For a family of 5, we've been able to order for all of us a total of 5 dishes for only P577 drinks included! With the taste, spread and price, Number 1 resto is definitely something worth mentioning! Can't wait til our next visit!
Post a Comment
Read more

To OFWs: Starting your home purchase is the greatest decision you'll ever make

I have read a worrisome article from an OFW forum which has been shared and has circulated among OFW group communities. It mentioned that purchasing real estate may not be a good idea for OFWs. Apart from the fact that he the writer is trying to convince his audience to buy "stocks" as a form of investment, I am really not sure where he is coming from. I have been a daughter of an OFW since age 2. One of the earliest conversations with my dad circled around his reasons for not choosing to work locally. And the very first of these reasons was for us to have a decent home and a good life. 3 years into his work as a cashier in Jeddah, he bought a piece of land and 2 years after we moved into our unfinished house. Slowly over the years my mom would try to make major improvements like an extension or a interior finishing or a semi permanent partition which would later on form part of a still unfinished house and lot.  During that time there was no concept of a house and lot...
Post a Comment
Read more