A Reiteration To Have Discipline in Investing

One, I have no huge capital yet. What I have is a very small sum which I intend to grow overtime. 

Two, my plan is long term. 

I have to be reminded of the two things mentioned above. Always. No one can do the slap for me but myself. Today the PSE market is down though opened strongly and positively on the news that the US Fed decided to taper slightly on its bond-buying program (QE).

What If The US Fed Decides to Taper on December 17-18 FOMC Meeting?

Update: December 19, 2013

The Federal Reserves decided to start tapering by January 2014. This means that the monthly $85Billion bond-buying will be reduced to $75Billion. Contrary to many, the taper resulted to record high in market indexes upon knowing FED FOMC decision of tapering. 

With the positive reaction of global markets, will I trade short-term?

Stock Investing Gives Me One Important Thing in Life: Focus

Investing in stocks gives me perhaps one of the best things in life. Focus. Yes I mean financial focus.

Compared to years of multidirectional, mostly wasteful and confused, also synonymous with non-directional financial mindset, stock investing compels me to be focused on one thing in my life, my future.

I want to retire rich. And I am committed to be rich in the near future. Ilan na sa atin ang pagod maging isang kahig isang tuka? I am not yet there but the good thing is that I already started something which I call a relative breakthrough in my life. Someday I will no longer be a isang kahig isang tuka guy.

Don't Want to Become Gastador Anymore? Here is One Way I Do It.

For the most part of my life, I was a one-day-millionaire guy. Meaning, I was used to spending my salary like there is no tomorrow. Before I know it, tomorrow arrives and I have to endure and struggle surviving about fourteen days before the next pay day. That horrible cycle of life went on for a very long time. I bet you can not lie. Perhaps, the same thing happens to you too. 

Well, I got bored with that kind of life. I no longer want that. So here is a one way how I managed  to change my way albeit slowly....

The One Powerful Question That Forever Changed My Pera Habits

I met someone who asked me something that forever changed how I conduct myself financially. The question is utterly simple yet powerful enough to change my financial habits.

He questioned me:

How long can you stay afloat if, say, today you will be out of job or income?

Again…..

"How long can you stay afloat if, say, today you will be out of job or income?!!!"

My honest answer was two or three days the most…….. And that moment something struck me big time. I finally decided to take action for the better.

Ikaw ilang araw ang kaya mo? (You, how long can you last?). Answer it honestly and you know what the question really means in a positive note.

Anticipating and Mitigating the Risk in Stock Investing

They said that a business involving stocks is a risky business. That is true. In fact, however, all types and kinds of business have inherent risks. Risk is always involved either when robbing a bank or selling beauty products. The point is that businesses have risks. 

In stock investing, the risk is clearly identified. Of course, money-wise, there is no other risk other than the risk of losing the money invested. And this is the reason why the Filipino (or even global) population density investing or trading in stocks is so small. The investing risk is impressed to many as too much and it is not worth to be undertaken by many. Based on my experience, that was my belief too. That is why only lately that I have opened an account in stock investing.

Why Did I Create Engot the Rich Blog?

A future millionaire

My kids will never stay babies. They will grow in no time. This blog is for them. I want that someday, maybe ten years from now, I will forever 'infect' them with a millionaire mindset. This blog would serve as my financial record of what I was.

Financial knowledge I know is no more taught in gradeschools, specially public schools, like it should be. Much of what schools teach is about how to be a good citizen and never been more about how to be a productive individual. I hope to fill the gap for my kids.

Learning at an early age about finance management is one of the things that never happened to me. Yes, there were instance that I saved in a piggy bank. But it is more of an abstract idea driven by an abstract motivation why I do it. Only lately that I understood what saving in a piggy really mean. If only there was someone in my younger years who tried to nurture me on matters about money, who knows, I could have been raking the fruits of early learning now. I was spent in a poor man’s paradigm for so long before I woke up from it.

Why Do Poor People Stay Poor? It's the Mindset, Stupid!

Ok, the right question should be on the first person, on my person. Thus, why do I stay poor?

My immediate excuse why I am poor up to this day is: I was born in a poor family. My parents are poor. My mother came from a poor family. My father is a fisherman and my mother is a plain housewife. So with both of them poor, what would I expect to have? Apparently, that is the very cause why I am up to this day poor.

Not that I don’t have a work today. I have a work. But my work did not make me richer. I am still the same as I was.

Yet what I am actually pointing out is the real reason why I am still poor. The real reason I have found out is that I carry a mindset that was very difficult to notice.

image from www.occupy.com

I was born with a family with a mindset of poor human beings. I was surrounded by people who only think within the box of just enough survival and not outside the box of poverty. From parents, relatives, siblings, village people, all of them contributed to the financial psyche I held for a very long time.