To have P10,000 in my bank account – that was my most fervent wish when I graduated from college many years ago and was about to venture into the world of professionals. P10,000 pesos seemed like such a huge amount to me then, and also, pretty much out of reach. But oh! The things I can buy with such a huge amount!
When I finally fulfilled that goal, boy did I feel rich! However, it wasn’t a feeling that lasted very long, because it didn’t take me long to spend every centavo. Some of it were spent on paying bills, but most went to shopping. What can I say? I was young and carefree and wasn’t too cautious about saving for the future.
Also, all I knew about financial products then were bank accounts and had no idea about how I could’ve actually grown my P10,000 into something more by way of investing in mutual funds.
Now that I’m older and have my own family, I cannot be as happy-go-lucky with my money. And this is why I am now doing all I can to understand what mutual funds are all about, and planning how and when to get invested.
To be honest, it was only last year when I started working for Sun Life that I learned about it. Basically, a mutual fund is an investment company that pools together money from clients and puts them in diverse investments. The client earns when the value of the mutual fund he is invested in increases.
I can choose the fund I want depending on my goals and whether I’m conservative, risky, or somewhere in between. I’ll be seeking the help of a financial advisor on this one, so he/she can help explain it to me in detail and determine which funds are a perfect match.
The good thing about it is that I won’t even need as much as P10,000 to get things rolling. For a minimum amount of only P5,000, I can already open an investment account with a mutual fund company like SLAMCI, and this amount will be placed in different financial vehicles to minimize risk.
It may take me a while to get the hang of this, but they say that once I do, then I’ll be more confident about handling my own investments. In this case, I can take advantage of mutual funds’ flexibility, which allows me to change where my funds are placed up to four times in a year at no extra cost.
That instruments like SLAMCI’s Prosperity Funds are handled by top notch investment professionals who ensure that the funds produce the best returns, and that Sun Life is known for its global expertise further convinces me to take the step.
And I’m actually pretty excited about it. Contemplating about this now, I can’t help but look back at all the P10,000 I’ve earned over the years and imagine just how much that would’ve grown by now if only I knew about investing early on.
But, as they say, if you haven’t started yet, then the best time to start is now. Wish me luck!
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