MANILA, Philippines - Independence. That is usually the first word that comes to mind after graduation.
You can’t wait to land your dream job, cash your fist pay check, and finally move out of your parents’ house to a place all your own.
However the freedom to live by your own rules and gain true independence is greatly dependent on being financially able to support yourself. It’s great to know that you will always have the support of your parents but constantly relying on them can run counter to your development as a fully functioning and self-sufficient adult.
Whether you are a fresh grad or a young professional, it’s important to start getting serious about handling your money and working towards financial security.
Sure you may have a savings account but putting in a portion of your monthly salary to maintain that account is not enough. You need to start thinking about investing your money and having a diverse investment portfolio to prepare for your financial future.
It is understandable though that for first time investors, the thought of investing your money can be intimidating. Where do I start? Where do I invest my money? Banks are now offering investment funds to help you make those decisions. These funds are set up based on how much money you are willing to invest in and for how long, and how much risk you are willing to take for your investment to bear fruit.
But achieving financial independence by the time you are 30 takes more than just investing your money in the right place. Below is an infographic that outlines key financial milestones you should achieve that will help put you on the path to financial independence. — Rappler.com
Unit Investment Trust Funds (UITFs) are not deposits but trust agreements. They are not obligations of, nor guaranteed, by the financial institutions who established them (the "trustee") and are not insured by the PDIC. UITFs do not carry any guaranteed rates of return. Any income or loss arising from market fluctuations and price volatility of the securities held by the UITFs, including government securities, is for the account of the investor. The units of participation in the funds, when redeemed, may be worth more or worth less than the initial investment of the investor. Historical performance, when presented, is purely for reference purposes and not a guarantee of similar future results. The trustee is not liable for losses unless there is fraud, willful default, bad faith or gross negligence on its part.