Tuesday, April 22, 2008

Personal Experience: The Financial Planning Challenge

I signed up for the 10th Registered Financial Planner Program, it was quite a thrill for me to bound into much better career of financial planning in the future because there are more things I can expect in meeting more people eventually clinical laboratory science and real estate are some of my first and second passion and here comes financial planning in my life which is applicable for me and my family.

Many people ask what is a financial planner and what his or her role to them as clients?

A financial planner or personal financial planner is a practicing professional who helps people to deal with various personal financial issues through proper planning, which includes but is not limited to these major areas: cash flow management, education planning, retirement planning, investment planning, risk management and insurance planning, tax planning, estate planning and business succession planning (for business owners). The work engaged in by this professional is commonly known as personal financial planning. In carrying out the planning function, he is guided by the financial planning process to create a detailed strategy tailored to a client's specific situation, for meeting a client's specific goals (see Wikipedia).

Personal financial planning is broadly defined as a process of determining an individual's financial goals, purposes in life and life's priorities, and after considering his resources, risk profile and current lifestyle, to detail a balanced and realistic plan to meet those goals. The individual's goals are used as guideposts to map a course of action on 'what needs to be done' to reach those goals (see Wikipedia).

As what many of the lecturers in 10th RFP program have said, financial planning has evolved in a sense that he/she offer his/her service with much gusto due to the fact that it involves the element of giving advise, becoming a coach and at the same establish a fruitful relationship with a client with rapport. I find financial planning a little demanding with lots of data gathering in order for the client set and accomplish those goals.

Members of RFP Batch 10 are mostly comprised of insurance agents and brokers from big insurance companies, wealth and asset management officers from banks, senior financial executives from major credit card companies, licensed real estate brokers and one licensed stock broker from a well known securities and equities company listed with Philippine Stock Exchange. We all come different industries but we share one common goal in becoming future Registered Financial Planners.

Will update on my next article on Financial Planning because I am still undergoing studies with Registered Financial Planners Institute - Philippines (RFPI-Philippines). if you want to be a Financial planner you may visit their website at http://www.rfp-philippines.com for more details.

Copyright 2008-2009 - PinoyMoneyVantage

Wednesday, April 9, 2008

Economic Slow Down in America How it Affected the Philippines and the World

It was a sad thought that the economic slowdown and recession in the United States not only affected our local real estate developers but the independent real estate firms selling to the once rich market of people with higher credit score and higher net disposable income. So everyone in America especially the baby boomers (those who were born in the 1940's or after World War II) who are about to retire by now or in a few years time and even the middle class Americans.

Once and for all, I have to shift our firm's attention to other markets in the world where there are lots of Filipinos working overseas. A good example of market is the European and Middle East wherein there are great concentration of Pinoys migrant workers in those areas. This was admitted by Rex Mendoza, Ayala Land, Inc vice president for sales and marketing (see article, Manila Times). Right now most of those real estate developers are also tapping the Asia-Pacific market another place to look and scour at is the first world countries like Singapore, Hong Kong, New Zealand and Australia wherein there are also a great number of Filipino immigrants there who may want to invest here in the Philippines.

It is definitely a fact that the Philippines and other asian countries as well especially with China rely with the U.S. market with their massive export capability of goods and the European Union is second. Last year, some of the China made goods were removed from the shelves due to complaints from customers and findings from government agencies regarding their safety. It was found that most of their products do not comply to international standards and health hazard for children. Lots of these products especially toys were pooled out of the U.S. market early last year.

The Business Process Outsourcing (BPOs) related with call center and medical transcription companies are feeling the pinch of subprime mortgage crisis (see article, Times UK) in America, as most of these companies heavily rely in U.S. dollars and also the U.S. markets. U.S. $ dollars have been for the past few months is breaking even against the dollar. However, it is now risen its value after loosing its value from P40.00 to US$ 1.00 but as of this writing the pesos is against the dollar at P 41.00 to US$ 1.00. Multinational BPOs from U.S. who have moved their operations here in the Philippines and India are loosing ground due to the loss of customers and closure of some U.S. based companies due to recession meaning alot of people are being laid off from work in the America.

Last week, I was watching CNN when I stumbled upon Union Bank of Switzerland having problems. I was totally shocked on seeing Union Bank of Switzerland, one of the best and biggest banks in Europe (see article, BBC CO UK) lose US$ 34.8 Billion due to the subprime mortgage and credit crunch. UBS is experiencing dire straits after heavily investing in U.S. real estate properties which have rapidly declined in value for the past few months since last year. It was tragic. Lots of investors have lost confidence on the annual stockholders meeting last week in Zurich (see UBS has doubled its subprime writedowns).

Copyright 2008-2009 - PinoyMoneyVantage

Monday, April 7, 2008

On Scam and Con Artist in our society

In being a Real Estate Broker there are times when I do find scamming artist prowling some of those small time business talks and free seminars happening within the metro. Such an example of this when I attended the Free Entrepreneurship seminar conducted by a group of Chinese-Filipino businessmen in Binondo, Manila.

I get annoyed with these types of people and most of these guys are con-artist in a sort of way of enticing some hapless person to see and later buy that piece of real estate in Bataan. Example of this is that they are selling pieces of properties in hectare within Morong, Bataan. I know this place because some of Morong's portions are under the Subic Bay Metropolitan Authority's property and under the Bases Conversion and Development Authority and also some of them are under the jurisdiction of Department of Natural Resources as well because Subic is a virgin rain forest of the country and the others were already acquired with Ayala Land Inc with joint venture agreement with Subic Development Company (SUDECO). Other than that, some of those properties are still under the name of the Republic of the Philippines.

There is also an instance on of the books I read, "Real Estate Lesson by Eduard L. Tan" wherein a group of syndicates with connection with higher officials in the government are able to get a piece of property inside the La Mesa Dam, Watershed and Eco Conservation Park. It was sad that they have already titled it under their names and are willing to contest in the courts. Also remembered an article from Philippine Daily Inquirer (see Link).

Right now, there are many financial scam plaguing our people, the most recent I have seen, read and heard in the media this early 2008 was the Royal Manchester Five or RM5 for short. The company was up running for the past 7 years. Cyrus Hao and Renato San Juan are now at large and have already have gone out of the country hiding from the prying eyes and hand of the law. Doubling your money in 5 or 6 years is reasonable, given the less than 15% average compounding rate required to do so. But if someone promises to double your money in one and a half years, which is what 4% a month or 48% a year does, it's obviously a scam. That's probably a pyramid or Ponzi scheme.

Other high profile cases that have recently flaunted the media and people are FrancSwiss, Multitel and many others that have vicitimized the hard-working people, the middle class and even the few of affluent people in our society even the personalities which have kept themselves silent from these issues from the media.

There are also other informative to watch out for regarding con artist and scams, I read the issue of the January and February 2008 issue of MoneySense which is undoubtfully useful even the back issue of FHM (2006) was also a useful on small time crooks and syndicate prowling the street for unsuspecting victims.

Don't be fooled with these types of people. They will rip your hard-earned cash so don't put yourself into misery.

Sunday, April 6, 2008

The Think Rich Pinoy Experience

I recently have attended the February 17, 2008 Think Rich Pinoy Seminar at PhilAm Life Building in Ma. Orosa Street, Ermita, Manila. It was an event I cannot forget that changed my life. Wealth building through real estate by flipping foreclosed properties is one shot deal that can generate income for you and your loved ones. There are pros and cons in real estate but this one could get you rich in no time at all.

Dr. Gamboa and others like him have dream of making one million rich Filipinos by 2010. It maybe impossible but with proper attitude and mentoring anyone can be a millionaire by that time. "We do not have to go abroad and keep our country's economy afloat with our skilled OFWs leaving our shores and working hard to both ends meet, we can make entreprenuers of our OFWs as what Dr. Gamboa", said in his statement.

Financial education through real estate and other income generating schemes can arm every Filipinos with the knowledge of wealth building and at the same create passive income for their benefit. The investments made will work for them in no time.

One of the most notable real investor in this type of business was Robert Kiyosaki, author of the Rich Dad, Poor Dad and co-author of other Rich Dad series of books who inspired Dr. Gamboa into this type of business and serves as his inspiration in creating a book called "Think Rich Pinoy". Think Rich Pinoy is an adapted version of the Rich Dad, Poor Dad for Filipinos to understand. The principle of flipping property and its concept are still the same but simplified.

I have read the book since last year and at the same time bought one of his book follow up, Grow Rich Pinoy, which emphasizes on flipping properties with little or no money at all plus with the help of course of rehabbers, lenders and other private investors by using Other People's Money (OPM) concept.

I have met other people who are still in the rat race who want to be investors and entrepreneurs and owning their own business. Dr. Gamboa emphasizes the empowerment of every Filipinos to financial freedom. It was a good thing that I met Dr. Larry Gamboa, Ph.D. himself on the flesh and maybe in the future would be a future franchisee of Think Rich Pinoy.

Copyright 2008-2009 - PinoyMoneyVantage

Thursday, April 3, 2008

Adventures in Caliraya - a team building experience

31st March, it was 3 A.M. I got up after sleeping for about a few hours and my body is still needs to recuperate from yesterday's work. At 4 AM, I am still in Pampanga and have to travel again with Tessa and Laila to get to Bonifacio Global City in Taguig to meet up with the rest of the crew who are joining with the rest people from Angeles City who are about to embark on a Team Building Training for Top Brokers. I got apprehended of the thoughts of having a good time, meeting new people from different places and at the same time having a fun pleasurable time with outdoor activities in Lake Caliraya.

At 5 A.M., as we approach the Metro. Traffic was heavy on North Luzon Expressway from the Balintawak exit to EDSA Cloverleaf because it was a rush of vehicles off to work on a very hectic Monday converging to Metro Manila from the nearby provinces. I was thrilled on seeing the bright lights off Metro Manila because I am always busy in the province and the thought of visiting Laguna and seeing a more provincial type of scenery which I haven't seen for a long time. Laguna has more green fields and agriculture compared to Pampanga it hasn't lost its nostalgia and also its historical value for me. It will be a long drive to Laguna but it will be fun anyways.

The team building seminar is sponsored by Community Innovation, Inc. (an Ayala Land, Inc. company) and the good thing about it is FREE including the bus going to and from plus the food, hotel accommodation at Caliraya Recreation Center. It was nice to have a company through Ate Tessa who happens to be our business partner, my mom's acquaintance and our top salesperson and Laila, who happens to be a site officer of Marquee Place Angeles City, Community Innovations project in Angeles City. Laila will accompany us on our first tour to Caliraya and with rest of the sales force coming from Metro Manila and other places.

We arrived at Bonifacio High Streets at 6 A.M., it was a site to behold being inside the Bonifacio Global City for third time I was awed on how fast developments were. A site to behold as most of the people of all walks of life converge in this future city inside the former military base which was converted into a mixed used development. It was lush, with bright lights on the streets. Skyscrapers are already on the rise as I behold on the site of Serendra (the hottest selling property in the list of Ayala Land developments in Metro Manila). I see it differently in my view of making oppurtunities in selling residential condominium properties inside Bonifacio Global City.

As we left the metropolis to Laguna, I see lots of road construction along the South Luzon Expressway and slow traffic in some section of the way with lots of detours, counterflows and barriers around. It was a long wait until we reached the city of Calamba, Laguna which is a definitely a historic place to visit for those who are venturing down south. The travel was leisurely as we went across town that I haven't seen along time from City of Calamba, to the towns of Pila, Los Banos, Sta. Cruz and later to Pagsanjan wherein it to took us about an hour and half to reach the sleepy and quiet town of Lumban.

Lumban is 30 kilometers south of Metro Manila. It is quite an astonishing place to visit, lots of agricultural fields, mountain trails, less people and great view of the nearby Sierra Madre Mountains. On top of those uphill road, you can already view the low-lying areas and nearby towns in Laguna. It reminds me alot of Bataan and Subic Freeport, Zambales minus the buildings and ships and less vehicles.

We arrived at about 9:30 AM, Bus 1 was already there together with participant from the Southern area who have rendezvous at Shell SLEX in Sta. Rosa, Laguna. They did have 30 minute head start on their to Caliraya Recreation Center. As we arrived on the area, we have to cross the lake on a ferry and then travel by a jeep to the hilltop where the ALI trainors and marshals are waiting for us. It was great and pleasurable travel in going to Caliraya with an awesome view of the lake, the mountains and its amenity areas.

As we were waiting for our cue, our names were roll called and have assigned us to four groups composed of 12 to 13 members. Our first taste of the action was to meet, the trainor on the gazebo. Downhill slope was dangerous as we raced first. The gravity of earth is pulling us downward as I breeze on down to meet our trainers who were waiting for us on our first activities. Too bad, we were second place and had not received the price money per group.

Mr. Rex Mendoza, VP for Sales and Marketing for Ayala Land, Inc. (former President of AIG- PhilAm Group) was there on that event and gave us an short inspirational talk especially in the sales record the 5 year old Community Innovations, which is the youngest member of Ayala Land Inc. subsidiaries, achieved with total of 1.8 Billion pesos sales for 2008. CII and ALI were grateful with our efforts in marketing their projects and have they thanked us for being their outstanding sales force of achieving higher growth with their company. Together with Mr. Robert Lao of, Head of Sales of Community Innovations, Inc. (An Ayala Land Company) presented the awards on the Brokers' Night.

It was great that our company and my mom's name was given an award as the Top Individual Broker and Best in Project Selling category in one project for achieving record breaking sales at Marquee Place in Angeles City alone. I do like to thank Miss Tessa for her efforts in helping our small company achieve this feat and beating the other teams in achieving that high sales in one project alone.

1st April, it was time to pack as I felt lonely as I leave this darn place full of memories which gave an inspiration of meeting sales people like me from different places and different backgrounds and also the young like-minded people like Architect Rico Yangco, Ely Belgica, Kuya Hubert Claveria, Mr. Alex Gaston and the others I have met all along the way.

Visit Lake Caliraya Resort and Recreation Center at www.caliraya.net.

Copyright 2008-2009 - PinoyMoneyVantage

Want to be a licensed Real Estate Broker or Professional?

Do you want to be a real estate professional?

Real Estate Brokers Association of The Phillippines will holding Comprehensive Real Estate Seminar and Review for those who would like the to take the Real Estate Brokers Licensure Examination from the Department of Trade and Industry - Bureau of Trade Regulations and Consumer Protection (DTI-BTRCP) on May 2008. Schedules from different chapters of REBAP in Metro Manila to nearby provinces are posted below and will be conducting these seminars on given dates and specific venues.

For inquiries you may call the nearest REBAP Chapter in your local community with their contact numbers listed below.

Real Estate Brokers Association of the Philippines (REBAP), Inc.

Tel Nos.: (632) 373-2281 / 374-2496 / Email: rebapnational@yahoo.com



For 2008 MAY EXAM







April 5, 12, 19, 26

& May 3, 10, 2008

Gen. Review –May 10

1:00 – 7:00 PM

Rotary Center, cor., Mother Ignacia, Roces Ave., Q.C.

PhP 3,500.00






April 15, 22 & 29, 2008

8:00 AM – 5:00 PM

Chowking, Kalinisan Zapote, Bacoor, Cavite

PhP 3,500.00





April 12, 19, 26, May 3 & 10, 2008

1:00 – 6:00 PM

Level 1, Cacho Gonzales Bldg., 101 Aguirre St., Legaspi Village, Makati City

PhP 3,500.00






April 19, 26, May 4, 2008

8:00am-5:00 PM

Champaca Room,

Club Filipino

PhP 3,500.00




April 5,12,19, 26 May 3,10, 2008

8:00am – 12NN

2/F Tia Maria Bldg.

C.V. Starr Ave.,

Las Pinas City

PhP 3,500.00




April 12,18, 19, 2008

26-Gen. Review

1:00 – 7:00 PM

Dasmarinas Rm, Makati Sports Club, Makati City

PhP 3,800.00





March 1,2,8,9, 2008

9:00am-6:00 PM

405 Jovan Bldg.,

Samat cor. Shaw Blvd, Mandaluyong

PhP 3,500.00

531-6914/ 7174253



April 13, 20, 27, 2008

8:00 am – 7:0 PM

Skyline Riverbend Café, Riverbanks Center, 84 Bonifacio Ave., Barangka Ave.

Marikina City

PhP 3,500.00




March 16, 30

April 13, 2008

9:00am-6:00 PM

Dencios, Metrowalk Ortigas, Pasig City

PhP 3,500.00



Quezon City

April 19, 26

May 3, 10 & 17, 2008

1:00 – 7:00 PM

Max’s Restaurant

Quezon Avenue

(beside Mcdo)

PhP 3,500.00





April 19, 20 & 27, 2008

8:00AM – 5:00 PM

Bahay kamayan, Gapan Olongapo, Sto. Nino, San Fernando, Pampanga

PhP 3,500.00




Copyright 2008-2009 - PinoyMoneyVantage