Henry Sy builds a legacy that will lasts generations after his death. That’s a product of long-term term thinking and laying out his business foundation from the ground up.
Do you think SM will continue to grow? Isn’t obvious? Of course, it will.
It has a solid system to follow, a solid foundation that builds its business.
We may not have a big financial foundation like Henry Sy. Some are doing worse than we are. Their financial foundation is a mess, full of debts to pay, living paycheck to paycheck and the most important thing they lack the knowledge and dedication to get out of the rut there in to.
Henry Sy didn’t start as a millionaire in his younger years. His wealth is built through hard work and working smart. You too can do such thing it may not amount to 1% of his wealth. So what it’s still worth a shot don’t you agree?
Having a set of investments working hard for you and gives you money until your old age. Do you think it’s possible?
If you asked the 20-year-old me, I would not believe such a possibility can happen. But now, it’s possible it will take a long time yes. But it’s definitely possible.
How did you ask? There are a lot of ways to achieve it and the simplest method you can follow are to live below your means, add income source and invest for the long term and adjust your strategy as you hit your goals.
My idea of rich
Ask yourself, what is your idea of being rich?
For me, it is living like your normal neighborhood. Live in a simple house, have a decent family car, own everything necessary things, provide everything my family needs and living a simple yet fulfilled life with them.
What the difference between my idea of rich and now, you ask?
A lot. Right now I don’t own a house and a car, I lack money to finance everything my family, my future family needs and the most important thing I still don’t have my income replacement investment.
How nice it can be. Can you imagine yourself living a life where you are in control of almost everything you can control? I do and I believe it will happen in the future it can be 10 years from now if fast or somewhere around 20 years from now. Nonetheless, it will definitely happen.
“Everything is created twice, first in the mind and then in reality.”
Whatever idea your mind has created can be created in the real world as you work it out to make it real.
Does it make sense?
Your mind is a powerful tool that when used correctly will give plentiful of harvest to you.
My strategy to achieve my idea of rich
First, your knowledge pays the best interest. Before you do whatever strategy you’re about to take. Study it first.
What I am about to share with you is my current strategy. This is my strategy and what works for me doesn’t necessarily mean it will work for you.
Okay lets start with…
Building emergency fund
This is the very first thing you should do. Right now Covid-19 are looming around us, with this global pandemic having an emergency fund is a great solution to fund other expenses like food stocks, alcohol, face mask and other necessities we need.
We don’t know how long this pandemic will be around. Not everyone saves up an emergency fund and for sure those who don’t save up emergency fund will suffer a lot because of the lack of it.
It’s saddening to see our fellow Filipinos suffering but what can we do we cannot help them when we ourselves are living paycheck to paycheck.
There are also people in debt. If you belong to that group, I suggest you pay up your debt as soon as you can. It will be hard to build-up wealth when you are paying your debt. It’s like a leach that slowly sucking your blood. You don’t like that, are you?
Saving up 10% of your salary is a sure way you can give love to other people in need. Right now a lot of people need relief goods and your tithing can be a big help to institutions, charity and the like that crowdfunding for helping the less fortunate Filipinos.
This way you can help and your budget can be intact. No harm in trying right? Your money will be a good addition to helping our fellow Filipinos.
Have an insurance
We never know what tomorrow may bring. We may die too soon, or we may live too long. How can we ensure our well-being and our family’s well-being when something happens?
We should have health insurance in case we live too long. Who would want to outlive their retirement pay and investment? I don’t, that way I have health insurance. Do you think you need one too? If yes, click here to see the one I have suits your needs.
We should have life insurance in case we die too soon. Who would want to leave liability to their family by the way? I don’t, that’s why I avail affordable life insurance that can provide for my family for quite some time. At least I leave a legacy behind. Do you think you need one too, if yes, click here to see the one I take if it suits your need?
You should invest 20% or more of your salary to different financial vehicles that can give you good to better returns of your investment.
How you can spot good deals? Simple. Do your due diligence, study. Knowledge pays the best interest.
I believe the more you know the more you earn. Why not try to learn more?
Once I graduate from college, I thought finally I’m free in this studying and stuff. Never in my wildest dreams it is merely the start of the unending knowledge seeking for a better future.
That’s it for now. I hope this post makes sense to you. The best thing happens when you know what you are doing. Knowing what works for you will do you wonders in achieving your own financial freedom.
Good luck to our journey to financial freedom mate 🤗
Comment below your thoughts. Does this post help you in a way or another?