Homeownership Update: Paying down the principal

Over a year after taking out a home loan from government financier PAG-Ibig, we must admit that it’s been smooth sailing so far. Applying for the home loan at the initial stage wasn’t as much of a hassle as it should have been as our developer did the paperwork for us. We only needed to submit the necessary documents to it, and its employees were the ones who did the actual leg work and follow-ups with PAG-Ibig. … More Homeownership Update: Paying down the principal

By abandoning SSS, are we shooting ourselves in the foot?

An SSS pension is one of the few social safety nets that we enjoy in the Philippines. We have a four-tiered system of social protection but let’s talk only about the stuff that are fairly accessible to most of us at retirement: (1) SSS (pension for private workers, voluntary contributors, etc.), Government Service Insurance System (GSIS) (pension for government workers), (2) mandatory deposits/contributions maintained at PAGIBIG*** (or simply, the MP1, that PAGIBIG deduction on your paycheck), and lastly, (3) private pensions maintained by your corporate employer. … More By abandoning SSS, are we shooting ourselves in the foot?

My Sixth Million

After a self-imposed ban against posting a net worth update (to empathize with fellow Pinoys who have lost their livelihoods during this pandemic), I’m back! I have to admit, without the feeling of accountability that these updates bring, I have been slacking in monitoring net worth or saving rate. Writing these posts requires me to take pen to paper and calculate my numbers. It’s the only time that I get to check what’s been coming in and going out. … More My Sixth Million