As I’ve written before, I have to keep working until 60 due to my work’s retirement laws but I like keeping my options open. If I can ever afford to self-fund my FIRE date to such an extent that forgoing my employer’s very generous pension won’t bring tears of regret to my eyes, WHY NOT??? … More 27% to FIRE number
It’s confirmed, the US economy declined* in two consecutive quarters. In economic theory, that’s a textbook recession. There doesn’t appear to be a formal announcement of one by the US government, with major economists theorizing that a recession is still looming come 2024. … More A US recession and Self-Fulfilling Prophecies
While I haven’t been too good at constantly monitoring my saving rate or net worth recently, using the Money Manager app has forced me to face the truth–in the numbers. Our net worth progression has definitely NOT been a perfect straight line. … More The Eighth Million
People rarely talk about this but as you become older and gain better financial footing, you lose that drive to climb the career ladder. Gone is the desire for a better job title, or for better pay, or more prestige. … More Are we still pursuing FI?
The minimum wage Pinoy worker generally makes about PhP130,000.00/USD2,550.00 annually. Decent homes in Cebu City right now are going for about PhP5,000,000.00/USD98,040.00. That is 38 years worth of annual income for the average Pinoy! In some parts of the US (probably rural areas? like Cincinnati, Ohio; Hopewell, Virginia, etc.), you can already buy a home for that same amount of under USD100,000.00 like here. … More Cost of Living in the Philippines
In times of rising inflation, it is technically ideal to spend your money now, as opposed to later, when the same amount can only buy you less number of goods. That way, you can do your part in stimulating the national economy.
But it’s not your patriotic duty to spend, especially when you live in a country where you’re expected to fend for yourself, in terms of healthcare, food, shelter, and clothing, or you know, the basic needs. … More Feeling the pinch of inflation, yet?
Happy hearts day! Almost 2 months after Typhoon Odette and I’ve almost completed our prepper phase 1 to 3, involving emergency power supply and drinking water, but more on that later. Apart from investing, it is important to adequately prepare for an emergency not necessarily involving finances. Financial security should provide you comfort and options. … More Keeping the Lights On
MP1 is a mandatory contribution and employers are mandated by law to pay a counterpart amount (which amount isn’t deducted from your salary and is a totally separate contribution) This means that the amount that the employer pays for your PAG-Ibig MP1 remains the same at a measly PhP100.00/USD2.00. Your contribution and that of your employer goes straight to your MP1 account. So these are money in your pocket. … More Reduced Take-Home Pay
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
It seems that Pinoys are a still a litigious people despite the pandemic. As early as April, my caseload has been steadily climbing back to pre-pandemic levels around early June. My court cases also remain active. In short, I have not been churning out as much work to catch up with the additional cases coming my way. … More BARLIFE: Not Churning Out Enough