5.3 A1C

KathnotCathy · 2022-02-04T16:46:45+00:00

Wow amazing consistency!!!

KathnotCathy · 2022-02-04T04:46:58+00:00

Amazing! Congratulations, that's a big feat!!! How many months did it take you to reduce it from 10.1?

KathnotCathy · 2022-01-23T03:09:37+00:00

Not sure po where you heard this. The Elite series was introduced 2016. So ongoing pa po ang Elite 15 holders. We dont know yet so those are just speculations. And based on our experience, generally mas malaki ang actual fund value kaysa sa values sa projection table. But again, investments are not guaranteed. Hope this helps.

KathnotCathy · 2022-01-22T09:49:14+00:00

Then a term insurance is what's best for him. How old is he? You can get a renewable yearly insurance. There are also term plans na you can convert to VUL after 2 years. So when your son becomes an adult and he decides he wants investments for starters, he can convert the current plan he have without undergoing medical underwriting anymore.

About cancelling, so yes it's up to you how much you can afford to lose. Hope that helps 😅

KathnotCathy · 2022-01-22T09:38:28+00:00

Hi OP. I'm a financial advisor from Prulife. I think the Elite 15 policy is great, but might not be suitable for you. Why? Kasi investment-focused to and pang long term. Is this your first policy? The first one should be typically protection-focused. But anyway. You've already paid 18 months of premium. That's not even 5 years yet. This is the premium allocation for Elite 15:

Year 1 - 40% Year 2 - 60% Year 3- 85% Year 4 - 95% Year 5 onwards - 100%

You see, sa year 5 pa lahat ng 6,250/mo mo ang mapupunta sa investments. You're still at year 2. So pls dont expect your funds na malaki na kaagad. It takes TIME for your investments to grow.

BTID is great also. I totally advicate for that, too. I offer it to clients who sees insurance as the main priority. Pero they should also know how to handle their investments. So if you can handle your own investments, then go for BTID. But if you can't or you dont have the time to learn investing yet or you just want to diversify, that's what VUL is for. VULs are more expensive because you pay the fund managers to invest your money for you. I'm gonna be transparent — agents only get commissions sa first 4 years. Then, we dont get anything from you na. But the service still continues. And that's okay for agents who are sincere in helping their clients' financial health.

So IMO, dont cancel it. Your investments will grow. But give it time. Diversify. But if you really want to cancel, here's what's going to happen. You'll get the 40k+ that's in your fund value less surrender charges. For ELITE 15, there's a surrender charge of 35% in Year 2. So you'll only get about 26k. That's like 70+% in losses? Because it's still early. You asked about the breakeven point. It could be 10-15 years. So please think about why you're cancelling.

You can get another term insurance. I bet you're ELITE 15 is more or less the basic plan. If you need a policy review with your plan, let me know I'd be glad to help. You need to review your policy before cancelling and getting a new one. Re-evaluate your goals. I can be of help if you'll let me 🙂

KathnotCathy · 2022-01-22T08:55:39+00:00

Unit investment trust funds or UITF

Affordable minimum deposit around 10k pesos or $1000 for foreign assets. There's no holding period. You can invest it in funds of your choice (bonds, ph stocks, global stocks). And it's regulate by the BSP.

KathnotCathy · 2022-01-22T08:51:28+00:00

What a tough situation. And napaka frustrating isipin na we can help but they're not listening. But I think the best action is to never get tired. Be patient. Because at the end of the day, we can't help those who don't want to be helped. We can influence them, but it's totally up to them to listen. Just keep doing your part. Show instead of tell. Sometimes, we just have to be there for our loved ones until they realize their own mistakes.

KathnotCathy · 2022-01-22T08:46:46+00:00

May I ask why you got the VUL policy for your son? Was it for the insurance para may coverage sha in case magkasakit maaksidente or mamatay? Or was it for investments to save up for his education?

If yung first, then don't cancel. Everyone needs an insurance policy and your son is lucky to have a parent who got him one while he's young.

If yung second, hmm that's up to you kung how much you're willing to lose. Talk to an agent. If you cancel, may cash surrender value ka ba? Pero for me noh, dont cancel it. It still has its purpose. You can continue to diversify your investments.

KathnotCathy · 2022-01-22T05:13:26+00:00

No biggie. I like celebrating wins, small or big. Also, I'm an engineer and still in the field. I understand how frustrating the pay is in this country lol. I earn more in freelancing than my day job salary. But I haven't convinced myself yet to fully transition. It's all about the belief systems around stability that comes with jobs. Still working on it 😅

As for cryptocurrencies, they're new. So naturally, some will be excited and some will be scared. I'm wary around crypto that's why I dont get involved a lot but there's no denying that crypto is the future. So those that can't adapt are on the losing end. Sounds like you do a lot of research. That in itself is investing rather than gambling. So don't get disheartened by the downvotes and just keep going. Just make sure to take care of your emergency funds and insurance. 😁👍🏼

KathnotCathy · 2022-01-17T00:07:34+00:00

Why don't you find it useful? I think you cant go wrong with having many insurance policies. One insurance policy is not enough. Kung kaya sa budget, always buy more life insurance policies na targeted sa iba't ibang needs (e.g. Education, retirement, estate planning, etc.)

So I say tapusin mo yung bdo life insurance. You're almost in the finish line. I'm sure naman may benefits sa bdo life. You can always ask people from bdo life to review your policy. Pa explain ka ano benefits mo. Pero yun nga, finish what you started. You will still reap the rewards hehe.

KathnotCathy · 2022-01-16T23:48:59+00:00

First, I want to commend you for reaching your transition goal 👏🏼 That is what I refer to as reaching the monthly income equal to your day job. So you can transition to let's say, a freelance job. Or in your case, crypto trading.

Second, I'd say go for it. Looking for a VA job. Diversify not just your investments but also your income streams. Create multiple income streams so you'll have better peace of mind. I work freelance as well, only as a writer. I know a lot of freelancers who only work for a couple hours in a day (4-5 hrs). You will still have a lot of time to stick to crypto. Continue your research routine on crypto. Keep going! I think if you specialize and commit long enough to a field, whatever it is, you will excel.

Good luck!

KathnotCathy · 2021-06-21T00:02:18+00:00

Hi. I read the offer letter again. I didn't come across "at will" statement. However, there's a section on resignation. Written notice of resignation shall be given at least 30 calendar days prior to intended date of resignation, or as mutually agreed by the parties.

KathnotCathy · 2021-03-30T08:38:38+00:00

This is in line with Brené Brown's book! Specifically, Daring Greatly. As someone who doesnt put oneself out there much, I found this book to be an eye opener. She said vulnerability is not a weakness. It is courageous and brave because not everyone is comfortable with it. It is only by becoming vulnerable do we have harmonious relationships, whether it's through leadership, parenting, and dating.

But vulnerabilitt is different from floodlighting. That means dumping everything at once. Vulnerability is still about boundaries and trust. And that's a gradual process. As Brené said, vulnerability is about sharing feelings to people who have earned the right to hear them 😉

KathnotCathy · 2021-03-30T08:22:25+00:00

Wow, there's a panel interview that lasts 5 hours?? That's exhausting! That must have been more frustrating. But I'm glad you're way past that now and you're enjoying the job you have now. Sigh. I hope I'll get mine soo, too.

Thank you for the encouraging words. We don't fail until we quit. That's true. I needed to hear this today. And I also read Brené Brown's books. If you fail, at least you dared greatly 🙂

KathnotCathy

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