Do you want to get to know some overseas Filipino workers (OFWs) who are already investing in the stock market?
Scroll down to find out who they are.
Do you also want to learn how to be a successful stock market investor like them and achieve financial independence? Click here to learn how.
Bo Sanchez’ Stock Market Investing Tips
Most Filipinos think that the stock market is only for the rich.
But Bo Sanchez, The Preacher In Blue Jeans, will tell you otherwise. In his three and a half minute interview with My Puhunan host, Karen Davila, he showed that simple people like his helpers and other regular employees can also invest in the stock market.
Watch his enlightening interview wherein he also shared tips on how simple Filipinos should handle their money and win in the stock market in this video.
Take Bo Sanchez’ advice, take time to learn how the stock market works and regularly invest small amounts in it for your money to grow exponentially and retire rich.
Do you want to learn the step-by-step procedure on how to invest in the stock market that Bo Sanchez taught his helpers? Click here.
Did you know that you can invest in the stock market even if you are living abroad or residing in the province? Click here to learn how.
Blessings!
While working in the corporate world, I opened joint bank accounts with my mom as co-owner so that she can transact banking needs in my behalf. I did not want to have to file a leave from work back then every time that I needed to sign or request anything from the bank. It was for making things more convenient.
It turns out that convenience has a price.
I recently came across an article in the local daily, The Philippine Star entitled, “Bank account of the ‘living’ dead.” I read that banks instantly freeze joint accounts in the event that one of the co-depositor dies.
Banks do this due to Section 97 of the Tax Code, which requires that a BIR certificate that estate taxes have been paid be presented. Only after this certificate is shown will the co-owner of the joint account be allowed to withdraw.
This becomes stressful to the surviving co-depositor especially if he/she has no other bank accounts in his/her name only and his/her only source of funds is the frozen joint bank account. The surviving depositor’s ability to buy for his needs like food and medicine or pay rent and tuition is curtailed.
The way out of this predicament, as written by the author of the column, is to place the bank account entirely in the name of dependent and avoid the joint accounts altogether. Or withdrawing everything before the death also works.
Read “Bank account of the ‘living’ dead” in full here.
Leave your comment below to tell us what you plan to do with your joint bank accounts after reading this post.
Share this to show that you care. 🙂
P.S. Learn the right and safe way of investing in the stock market here.
Previous Post: How Pinoy Employees and OFWs Can Invest In The PH Stock Market Online
If your application to open a COL Financial (online stockbroker) account has been approved, this tutorial is for you. 😉 You must be excited to buy your first stock, right? Then, let’s begin!
Take a look at the email confirmation from COL Financial that you received. It will inform you of your user name (account #) and password. The email also tells you to log in to COL’s website and change your password. Let’s do that here.
Type colfinancial.com on the address bar of your browser to go to COL Financial’s homepage.
Type your user name or account number and password provided in the email confirmation in the boxes on the upper right corner of COL Financial’s homepage (as shown in the image above) and click log in.
The image above is how your COL Financial account’s homepage will look like. You will see information details like your user name, account number and equity value (your initial deposit) at the upper left side of the page.
Let us now change your password.
Click the “Change Profile” tab as shown in the image below.
Then click “Edit” at the bottom of the page shown below.
Type the password indicated in your confirmation email in the box labeled “Current Password” then type in your chosen password in the two boxes labeled “New Password” and “Confirm New Password”. Done? Then click “Change Password”. Look at the image below for your guidance. 🙂
You will then be asked to re-log in using your new password. Congratulations! You can now buy your first stock online. 🙂
After re-logging in and making sure that the market is open (as shown in the upper right corner of the image above), click the “Trade” tab on your homepage and then click “Enter Order”. The page that you should see after should be like that of the image above.
You would be filling in the boxes labeled “Stock Code”, “# of Shares” and “Price” on this page. If you are a member of the Truly Rich Club, then you would already have an idea of what stock to buy. 😉 Not a member yet? Click this if you are interested to become a member.
But you can still use this tutorial even if you are not a Truly Rich Club member. This is for anyone who has a COL Financial account and would like to learn how to buy stocks using his account.
Click the “Stock Code” to get the 3-letter code of the company stock that you want to buy.
For this tutorial, I choose to buy DNL. After typing in DNL in the box labeled “Stock Code”, you will see the image below.
If buying a stock, you only need to look at the “Ask” column and the “Board Lot” or the minimum number of shares of a particular stock that you need to buy. Please refer to the image above.
Note: If you are a Truly Rich Club member, remember to only buy stocks if they are still at their Buy Below Prices.
Let us now fill in the box labeled “# of Shares”. For DNL, one is required to buy a minimum of 100 shares. If one wants to buy more, it should be in multiples of 100.
After completing the step above, next is to fill in the box labeled “Price”. The first row in the “Ask” column is the lowest price being asked by the sellers. In our example, the price of DNL is P10.54, After filling in the three boxes, click “Preview Order.”
The image below will appear.
You would see in the example that the gross amount of the order is P 1,054.00 (100 shares x P 10.54/share) and the total order is P 1076.56 after other charges are added to the order. Type in your password in the box labeled “Enter your password” to confirm the order.
To check if your order was executed, click the “Trading History” tab as shown below.
Click “Show Orders” at the bottom of the page and you will be taken to a page where you would see if your order was executed or just posted. Or, you can choose to wait for COL Financial’s email confirmation the following day to confirm that it was executed. If it was not executed, you will not receive any email from COL Financial. This means that there was no match to your order or all of the shares corresponding to the “Ask” price you quoted were already bought. If this happens, you can choose to wait to buy DNL at the same price (if a seller asks for the same the next time you log in to your account) or at a higher price or maybe a lower one depending on the “Ask” price of the sellers.
And you’re done! That was easy wasn’t it?
But, before we end this tutorial, please click on the “Portfolio” tab. The image below will appear.
The “Actual Balance” is the total amount that you have in your account and the “Buying Power” is the total amount that you can use to buy more stocks. The “Stock Position” shows all the stocks that you have in your account.
Hope that you learned from this tutorial.
Blessings and Happy Investing!
You can share this to your friends if you know that they are interested in investing, too!
P.S. Learn what stocks to buy, when to buy and when to sell by joining the the Truly Rich Club.
The True Millionaire’s Prayer by Bo Sanchez
I read “The True Millionaire’s Prayer” Â in my physical copy of Bo Sanchez’ book, “8 Secrets Of The Truly Rich“. It is the prayer written in the membership form for God’s New Breed of True Millionaires found in the first few pages of the book.
I did not sign and fill out the membership form when I read the book a few years ago. I omitted doing it not because I did not believe in it’s power. I have not set my financial goal or my magic number at the time and being the beginner in the journey to wealth, I failed to muster enough courage  to write an amount which is comfortable as far as my psychological wallet is concerned.
But today, I commit to signing and filling out the form and uttering “The True Millionaire’s Prayer” and praying for my financial goal everyday until it is fulfilled. Whew! I felt a fluttering in my heart as I wrote my commitment. A feeling I get whenever I put myself out there and therefore, becoming accountable. 😉
Do you want to be one of God’s New Breed of True Millionaires? Write your financial goal and date when your financial goal will happen and commit to saying this prayer everyday. Together, let’s wait and see our dreams come true!
The Truly rich’s 6th secret is Ride Something to Wealth. One of the vehicles you can ride is the stock market. Learn how to invest in the stock market the right way. Click here.
Share and be blessed!
Philippine Bills
Do you love money?
If you are like me more than a decade ago, I am certain that your answer to the question above is, “No, I don’t love money. I am not greedy. I don’t accumulate wealth for material gain. Whatever I earn, I put in a savings account where it is safe.”
If I knew then what I know now, I would have answered the question differently. I realized that I also loved money. True, I did not excessively pursue and gained money because I grew up believing that the love of money, which is greed, is the root of all evil. I did not realize then that putting my money in a savings account where the interest rate is so small that it is comparable to stuffing it under a mattress, where it does not earn anything, was another form of loving money. I loved money by holding it and burying it.
I placed what I had in a savings account because it was risk-free. It was hard-earned that I was afraid of losing it. I was guilty as the third servant in the parable of the talents. He who buried the money given to him by his master.
I was not a good steward of the money God has blessed me with. What I had then did not multiply, the consequence of failing to invest rooted to the fear of losing it.
Fast forward to the present.
Now, I am aware of the financial sin that I committed in the past. And since I dream of God telling me when I permanently retire in heaven, “Well done, my faithful servant,” I threw away all my primitive beliefs about money. My fear of God taking everything He blessed me with is now far greater than the fear of taking a risk to multiply His blessings.
How about you? Are you like most who are still scared of taking a leap and investing in the stock market where your money will grow at a much faster and higher rate? Increase your wisdom and lower the risk by joining the Truly Rich Club. It is where you will be personally mentored by Bo Sanchez, the man who taught his maids how to invest in the stock market.
Join thousands who are already investing in the stock market. Click here now!
Share to bless others!
Studies conducted by the overseas Filipino worker (OFW) market segment of Philam Life showed that OFWs have developed troubling spending habits that prevent them from getting ahead and becoming successful in life. Cary Casipit, Philam Life vice president for OFW market, enumerated seven common spending habits noted in the study.
1. They have no financial goals. Financial goals are important and these should be discussed within the family and each one has a role to play, not only the OFW, to realize their financial goals.
2. Reckless spending – with excess money, the usual thinking is, this is extra money I can spend instead of this is extra money I can save for the future.
3. Malas-swerte mindset – one should realize that bad luck is inevitable in the absence of a plan and good luck never comes when money is allowed to sleep and not invested to grow in better yielding financial tools.
4. Financial management is handled by parents only – it is often the case that parents don’t teach their children how to manage money. Kids need to learn the value of saving, budgeting, investing and financial planning.
5. Most OFWs don’t plan for post-abroad life. They should acquire the mindset that their employment is not permanent and thus they need to prepare for retirement, health and possible job loss.
6. They tend to accumulate unproductive assets. When buying a piece of land or a business, one needs to think of how to make these acquisitions profitable.
7. Doped on the “get rich quick” investment schemes. It’s important to learn about sound investment instruments and consult trustworthy mentors to help you in your journey to financial abundance.
Do you want to learn how to handle your finances wisely and get ahead like three maids and a driver? Join the Truly Rich Club now! Click here.
Blessings!
Image from http://www.thehomeopathiccollege.org
Last August, I hosted a raffle promo in my Facebook page, Pinoy Employees & OFWs Can Invest In The Stock Market. I asked the entrants a question they are required to answer before they can submit their entry form. The question was, “What is the one thing that’s stopping you from investing in the stock market? If already an investor, what stopped you before from investing in it?”
Some of the answers I collected were:
1. “I used to fear losing money in the stock market. It is good that I am now more informed and can take calculated risks.” – Kim
2. “Fear.” – Randy
3. “Fear of losing the hard-earned money.” – Beth
Fear was the common thing that held them back or is still holding some of them back from investing in the stock market.
I remember a team building activity we participated in at my former work where we were asked to write on a piece of paper what our fears are. I wrote down, “I fear fear itself.”
The fear I fear is the kind that when not overcome robs one of the joy of living a full life, paralyses one from taking a leap of faith or even prevents one from committing mistakes which otherwise could bring wisdom to one’s life if one lets courage take center stage.
The answers of the participants in the raffle promo I conducted echoed what delayed me from investing in the stock market before, too. I also feared losing my hard-earned money. But, I went deeper and listened to the why of the fear.
I discovered that I was scared because I did not know enough how the stock market works. How do I decide what stocks to buy, when to buy and when to sell?
By the way, I confess that I initially dabbled in it relying only on my instinct and gut feel and my former stock broker’s recommendations. Â Click here to read a previous post I wrote about this.
Learning the why of my fear and knowing that there is no room for moon shots when it comes to investing in the stock market, I read books and sought mentors who could help me undress this alien and unlock its secrets and finally discover how it could be the vehicle they say would bring me to my dream destination, financial freedom! Click here to read the post about my books on financial literacy.
Armed with knowledge, I trampled the fear and went forward and invested in the stock market with confidence. And, I have no regrets. 🙂
Indeed, knowledge is the best antidote for fear! Do you agree? Share your thoughts in the comments.
Do you want to increase your ability or want to learn where to get the resources you need to invest in the stock market? Click here.
Zig Ziglar quote
If you are determined to learn how you can retire a multi-millionaire through investing in the stock market, click here now.
Image from en.wikipedia.org
Financial guru, Suze Orman, was brought to the Philippines for the second time by Bank of the Philippine Islands. She gave her practical and relevant financial management advice yesterday, May 16, 2013, at Resorts World Manila.
I did not have the opportunity to listen to Suze Orman live but I was able to read an interview of her in the issue of The Philippine Star today written by Donabelle L. Gatdula.
According to Suze Orman, investing in stocks would be a wise choice now that interest rates are so low. Stocks or exchange traded funds which we don’t have here yet pay higher dividends.
Orman also mentioned Pesos Cost Averaging (PCA) as one venue for investment in the article. PCA is a strategy that long-term investors use to invest in the stock market. It involves investing a fixed amount of money at regular intervals over a long period of time or about 10 to 20 years, Orman said.
Orman is also a fan of index funds rather than managed mutual funds.
I have consistently invested a part of my salary in the Philippine Stock Market in the past two and a half years. And, I agree with what Suze Orman said that stocks is the right place to be. My money has grown more in stocks compared to money placed in savings accounts.
Investing in stocks is risky. Minimize the risk by getting a mentor.
Get Bo Sanchez as your mentor. Click here to join the Truly Rich Club.
Employees Can Earn Millions In The Stock Market 