The Ninth Million
forever 20 something lawyer
by forever20somethinglawyer
1y ago
I was checking our asset allocation recently, calculated net worth and evidently, we have reached our Ninth Million.  We are closer to a decamillion than ever before.  It's remarkable how just about eight years ago, my net worth stood at only half-million.  We are nowhere near the dollar million mark (about PhP54million) yet, but... … More The Ninth Million ..read more
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Surefire Way to Cut your Monthly House Payment
forever 20 something lawyer
by forever20somethinglawyer
1y ago
In early December 2022, FH and I made a last-minute decision to pay a PhPxxx,xxx.00 advance on the principal amount of our housing loan. You see, out of the almost PhP700,000.00/USD13,208.00 total monthly payments that FH had made, only about PhP200,000.00/USD3,773.00 had gone to the principal!  … More Surefire Way to Cut your Monthly House Payment ..read more
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Guilty! Of profit-taking/daytrading
forever 20 something lawyer
by forever20somethinglawyer
1y ago
I've often advocated holding your stock portfolio for the long term, enjoying the cash dividends all the way to your early retirement. However, I allocate a certain portion of my portfolio for trading/fun. I'm relatively young and I get bored sometimes. =) So every year, I can trade a little bit, without the guilt. Even during the midst of a recession, it is amusing to see symptoms of a bull run in the market. And so I trade. Guilty! … More Guilty! Of profit-taking/daytrading ..read more
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27% to FIRE number
forever 20 something lawyer
by forever20somethinglawyer
1y ago
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 ..read more
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A US recession and Self-Fulfilling Prophecies
forever 20 something lawyer
by forever20somethinglawyer
1y ago
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 ..read more
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The Eighth Million
forever 20 something lawyer
by forever20somethinglawyer
1y ago
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 ..read more
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Are we still pursuing FI?
forever 20 something lawyer
by forever20somethinglawyer
1y ago
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 ..read more
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Cost of Living in the Philippines
forever 20 something lawyer
by forever20somethinglawyer
2y ago
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 ..read more
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Feeling the pinch of inflation, yet?
forever 20 something lawyer
by forever20somethinglawyer
2y ago
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 ..read more
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Keeping the Lights On
forever 20 something lawyer
by forever20somethinglawyer
2y ago
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 ..read more
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