A Financial Seminar with Chinkee Tan

My friend texted me about a financial seminar by Chinkee Tan in Talisay City, Cebu. At first I was skeptical since the venue was the office of J810 Construction, a construction company in Talisay, and Chinkee never mentioned in his social media accounts that he will be in Cebu. Plus I only learned about it a week before the seminar. Then again, my friend is not really the type to prank me and she is very serious about finances so why the heck not.

 It just took me a jeep and 2 tricycle rides to get there (It's only 1 tricycle ride but since I was not familiar with the area, I went pass my location). As I trek the unpaved road to the construction office, I gladly saw a tarpaulin ad of Chinkee Tan. The guard and caretaker in front of the gate happily welcomed me inside their vicinity. They let me in a small part of their building which was actually a chapel converted into a meeting room. I waited for about half an hour and lo! Chinkee Tan entered the room.

Skipping my narrative to the seminar, we will be starting with what he was talking about. These are just quotes and the gist of these quotes basing on what I learned. This does not comprise entirely of his talk.

"You can never win in life with a Defeated Mindset."

Chinkee Tan has always promoted a positive mindset (thus his moniker Mr. Chink Positive!) in his books, talk shows, and seminars as a key for financial freedom and I totally agree with him. People are always inclined to think in the negative, never thinking about solutions that can surpass their current and future problems to the point that they will not take action or settle for things they know they are capable according to their perceived limit. This is bad since this can cause debt problems, family problems, and emergency problems.

A positive mindset sets yourself ready (mentally, physically, and spiritually) for any problems you may encounter. One obstacle won't deter you from pursuing your goals because you have a goal and you are determined to reach it. You have that never quit attitude that leads to success at the end of the road.

"Ang pera hindi kayang baguhin ang tao, pero ang pera ay makapagpalabas ng tunay na ugali ng tao." (Money cannot change a person, but it can show the real personality of a person)

Do you ever have that friend that asks you for money to pay off some things like a humble dog with cute puppy eyes then suddenly becomes arrogant and boast about his wealth because suddenly he has a lot of money? You would definitely say money changed him, but the truth is, that friend was always arrogant and boastful even when he didn't have any money. That's how money works on personality. It shows you what you really are inside. Note: This applies to positive personality like being generous for example.

"Ang taong nasaktan, sumasakit ng ibang tao." (A person who was hurt, hurts others)

#Hugot much, right? The truth is everyone who was ever felt wronged will sometimes reciprocate it on others. It's not logically and morally sound but those are realities of life. If you feel society has done you wrong, you would try and take a jab on society. I'm not promoting this type of behavior, by the way. Remember that Defeated Mindset? People who espouse such behavior have this type of mindset. Winners would convert the pain into something good for them and the people around them.

"Stop comparing yourself to people"

We have that moment were we feel jealous towards another person for having this and not having that. Then we start comparing and mostly the comparison derogates us and praises the other person. We now feel low and the other person is like an immortal god with features unattainable. 

We just have to stop with this train of thought.Sure that person has something to desire but being jealous and saying "that won't happen to me" won't do you any good. You are a unique person, start thinking positive about what you have rather than don't have and then cultivate that positive attribute into something awesome.

"Ang Ginoo na ang bahala." (Let God take care of it.)

I like to clarify that this is not a reason to lie down in bed all day and God will  miraculously  solve all your problems for you without you doing any effort. God says in James 2:14-17

14 What good is it, my brothers and sisters, if someone claims to have faith but has no deeds? Can such faith save them? 15 Suppose a brother or a sister is without clothes and daily food. 16 If one of you says to them, “Go in peace; keep warm and well fed,” but does nothing about their physical needs, what good is it? 17 In the same way, faith by itself, if it is not accompanied by action, is dead.

What I'm simply telling you is if you have problems, reach out to God for help. After all in 1 Peter 5:7  says

7 Cast all your anxiety on him because he cares for you.

That's about what I can give to you during that seminar. If you want to know the latest update on Chinkee Tan, you can visit his website: www.chinkeetan.com

Also, I'd like to thank J810 Construction for hosting and allowing me and my friends to listen to Chinkee Tan for a small price.

If you have questions, you can comment or send me a message through my social media accounts. I hope you learned something.

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Giving Up 1 Bad Habit Can Give You Millions

Hello, Readers. I haven't blogged for a while because of a hectic schedule but I'm back in writing and writing more for my blog.

On today's post, I noticed some of my friends wanted to give up on their bad habits and finding ways to escape. Well, today I'm going to post about something that can motivate them. Investing!

How do you mean?

If you invested your money (e.g. stocks, mutual funds etc.) instead of buying the usual things that prompts your bad habit, you can earn millions.

For example:

If you are a smoker and likes to buy 1 pack of cigarette that cost Php 80 every day in a month that'll cost you about Php 2,400. If you invested that Php 2,400 in the stock market every month for 15 years with a 12% interest rate, it'll give you a return of Php 1,215,631.03 in 15 Years!  By the way, I specifically chose 15 years as, according to studies, if you stop smoking for 15 years your body returns to normal as if you didn't smoke. You got your health back and you have 1 million!

But of course, I leave you to choose: a million pesos in your bank or a trip to the ER for lung cancer.

Don't know about you but the former seems like a lucrative offer.

I hope this can motivate you.

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A free Survery for Understanding the Finances of Families

IMG is a financial distribution company that helps in people understanding their finances. I would like you to be a respondent for a survey that we are conducting. Please participate.
Thank you for participating in our survey. Here's a puppy for your time.

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The Rule of 72

Many know the name Albert Einstein.

Not Miley Cyrus.

Known as the father of modern physics, His contributions has greatly improved the field of science such as The Theory of Relativity and The Theory of Special Relativity. Could easily be one of the greatest man that ever lived.

But what does Albert Einstein got to do with finances?

It has something to do with his discovery of the rule of 72.

What is the rule of 72?

The rule of 72 lets us find out the time when our investment doubles given a fixed annual rate of return. It basically tells you how compounding interest works.

How does it work?

For example: Person A puts his 100K in a savings account which has 1% per annum. Person B puts his 100K in a mutual fund which has a 12% annual interest rate.

Person A
72/1=72 years before Person As money doubles to 200K

Person B
72/12= 6 years before Person Bs money doubles to 200K

It will really depend on which financial vehicle you will put your money. And no. If someone says to you that you will have 50% or 110% increase in just a month, that is just a scam.

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The X-Curve Concept of Wealth and Responsibility

As we go out of college and into the long queue that is the unemployment line and then the employment world, most of us don't really know the responsibility that we hold until, you know, you have a wife/husband, kids, retiring parents, electricity bills, water bills, healthcare for your own and family, life insurance, college for children, food, shelter, and other things that involves burning holes in your pockets.

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It becomes this if you burn it way too much.

So, basically, you have a lot of financial responsibilities to handle in the early stages of your employment life. Unless, of course you're filthy stinking rich. But even if you are, let's assess your financial responsibilities and wealth.

The picture up there is what we call the X-Curve Concept of Wealth and Responsibility. The Concept theorizes that as time goes by, a person's responsibilities generally decreases and wealth generally increases. And I'm sorry for boring and reminding you of your thesis by using the word "theorizes".

As we escaped the confines of college life (or a much earlier phase of your life if you didn't go to college) and into the unknown dwellings of unemployment, we don't really have the savings to counter our responsibilities. Yes, you have responsibilities even if you don't care or realize it. (Hint: Parent's retirement if they did not plan it because they don't have a clue about financially educating themselves, healthcare for your family, refer to the introduction above for more responsibilities)

Let's say for example your goal is 5 million pesos for your retirement in the future.

At Stage 1: You don't have any savings and a lot of responsibilities. Savings=0 Responsibilities=5M

At Stage 2: You have savings and also lessened responsibilities. Savings=2M Responsibilities=3M

At Stage 3: Your savings is close to your goal and your responsibilities are close to nil. Savings=3M Responsibilities=2M

At Stage 4: This is where you should be at. A lot of savings and no responsibilities. Savings=5M Responsibilities=0

Now, evaluate yourself, which stage are you in now?

If you're not in Stage 4, what are you doing to reach your goals?

With what you are doing, do you think you can reach your goals?

Do you know want to know if you can reach your goals with what you're doing?

You can answer the little questionnaire found below:

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