MANILA, Philippines – Planning where to invest your 13th
month pay should begin by knowing why you are investing in the first
place, financial experts said.
Registered financial planner Ricky So said setting goals should be the first step in determining which investment tool best suits your need.
“For a young person, he should set realistic and achievable goals first then eventually to ideal goals, which is retirement, because eventually you will go there,” he told ANC’s “On The Money.”
Salve Duplito, ANC’s resident financial advisor, said realistic goals can be as simple as buying a gadget.
“When I work with young people, I start them off with gadgets, little things, because they feel more empowered.
They realize that when they can do this, they can also do the more difficult stuff. If you start them off with retirement, they get turned off, it’s so far away,” she said.
Duplito added that knowing when you will need your money is key determining where to invest it.
“If you need it by next year, put it in bond funds or money market funds…If late next year, put it in a few, good stocks,” she said.
Registered financial planner Ricky So said setting goals should be the first step in determining which investment tool best suits your need.
“For a young person, he should set realistic and achievable goals first then eventually to ideal goals, which is retirement, because eventually you will go there,” he told ANC’s “On The Money.”
Salve Duplito, ANC’s resident financial advisor, said realistic goals can be as simple as buying a gadget.
“When I work with young people, I start them off with gadgets, little things, because they feel more empowered.
They realize that when they can do this, they can also do the more difficult stuff. If you start them off with retirement, they get turned off, it’s so far away,” she said.
Duplito added that knowing when you will need your money is key determining where to invest it.
“If you need it by next year, put it in bond funds or money market funds…If late next year, put it in a few, good stocks,” she said.
No comments:
Post a Comment