ICON 2015 – Learning how to invest from the best

The word “investing” can sound really complicated and intimidating. Maybe that is one reason why so few Filipinos are actively investing in different investment instruments. I personally know many who think keeping money in savings accounts is the way to go, not realizing that inflation alone is eating up whatever interest is generated from savings deposits.

There are financial advocates who are now bringing the message of investing to the public with clarity and simplicity, but with a strong message. I call them financial evangelists and they have been giving workshops and going on speaking engagements for many years now. Their dream is to get more Filipinos into the investing mode. One of them is a good, good friend of mine – Randell Tiongson — who I consider a pioneer in this field, a columnist in his own right, and author of a best-selling book “Money Manifesto“. Randell is an original force behind ICON, an annual gathering of the best and inspiring speakers and advocates in the field of investing. I missed ICON 2014 last year because of time conflicts but I’m really happy to be able to go to ICON 2015 which will be happening this May 30, 2015 at the SMX Convention Center, Pasay City.

ICON 2015 speakers

ICON 2015 speakers

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Financial Peace Begins NOW!

Whether you’re still in school, in your prime or about to retire,
You need financial peace to live a happy life.
And there is no time to begin but NOW.

Highly sought-after financial planning consultant, Randell Tiongson, who also happens to be a dear friend, invited me to his workshop recently, Steps to Financial Peace. The opportunity to attend and listen to the counsel of someone known for his know-how in investments was too good to pass up. And truth to tell, there was a little voice inside me saying that maybe blogging was another way to share stored-up knowledge from almost two decades in the corporate world.

Randell Tiongson

Some Things to Keep in Mind

When you invest, your goal is to earn at a rate higher than inflationary trends. If all of one’s extra money is in savings or time deposit, which at the moment hovers in the range of less than 1% to 2%, depending on which bank you use, your money is really losing value while it is sitting there because your purchasing power is being eroded by an inflation rate that is higher than the interest rate you get.

80% of what is needed for investing is BEHAVIORAL. People need to get into an investment mindset. Randell mentioned that even those who are themselves in the financial industry are not spared from financial woes. Many know how to preach but do not apply the principles to themselves.

There is what is known as a Filipino vicious cycle — the parents spend everything they have on the kids, ending up with no savings of their own. Then when they are old and medical issues begin to crop up, they become fully dependent on the children to support them. And the cycle continues. Some will say but that is because we are family-oriented and that supporting elders is a natural obligation. This mindset, however, results in generations of people who have no financial peace.

55% of families in the Philippines do not own their own homes. Many have been renting for decades with nothing to show for the money spent.

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