Our 2012 Family Goal: Wealth Management

That is my fancy term for save more, spend less and investly wisely. Doesn’t  “wealth management” sound more motivating? Every time I pass by MiniStop and get tempted to buy another cheesecake ice cream, I silently say “wealth management” to myself and then walk away. Same case when were eating out last Saturday. Simply saying “wealth management” made that  all-meat pizza seem less appetizing.

Here are our specific steps to  get closer to our 2012 goal.

1.  Review our Finances. We made the following files
- Statement of Assets, Liabilities and Net Worth
- Summary of Constant and Variable Cash Flow
- Mutual Fund and UITF performance trackers

2. Organize our financial documents.  Should something happen to one of us (knock on wood!), this expandable folder will make it easier for the bereaved spouse to move on.

3. Go back to budgetting. I am proud to say that Franco and I are very good at staying on budget.

4. Learn more about financial planning
- Read books – check! I highly recommend these two books.


- Subscribe to financial planning blogs. I did not just put them on my favorites. I subscribed to the blogs via email so I won’t miss a post.
-  Attend a seminar. This is still a question mark. I think we know the basics already. What we need would be guidance on how to invest.  Enter specific step # 5.

5. Meet with a Financial Planner.I am so excited about this one. We go to doctors for our physical health. We go to lawyers if we have legal concerns. So why not go to the professionals for sound financial advice, right?  I have a long list questions that I would like to ask. More important than that, we are getting the services of a professional financial planner to help us determine what should our financial goals be and how can we achieve them. The planner that we are meeting is not connected with  banks, investment firms or insurances. He won’t be selling us any products. Our first meeting will be all about data gathering and Q&A’s. I am sure I have more questions for him than he has for us. In the next meeting, he will present to us recommendations and strategies on how to get from  A to B and eventually to Z. Isn’t that exciting?
What is more exciting is that the planner that we are meeting is no other than Efren Cruz , the author of Pwede Na! The Pinoy Guide to Personal Finance book.  I was thinking of putting his credentials here but the list is too long. Check out this page to know more about him.

More on spending wisely on wealth management post.

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27 thoughts on “Our 2012 Family Goal: Wealth Management

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  8. Ito yung hinahanap kong post! Will buy his book and try to attend his next talk bago ako set ng meeting with him.

    Hay I pray magaya kita at magka disiplina ako sa gastos at ipon.

    Wish me luck!

  9. Hi,
    I’m a new n@wie and somehow, i found my way to your blog =)
    I’m particularly interested about this post (newly married kaya ndi pa ako gano nakakarelate to most post, also explains why I don’t post pa sa n@wie – nothing to share pa hehe).
    Can I ask po kung how much ang services ng financial planner? I think we need one.
    Thanks!
    Vanessa

    • Welcome to N@W, Vannessa!
      He charges between 5-6K. Very reasonable if you ask me since he will touch on every important aspect of personal finance.

      • wow, affordable nga! convince ko muna si hubby hehe. thank you sis Maqui for this wonderful info. I used to think this service is just for rich people. Glad to know pwede run pala sa atin =)

        • You are welcome, Vanessa! I recommend that you talk to Efren first before talking to agents of insurance policies and mutual funds para mas armed ka.

      • Hi again Maqui,

        I’m now gathering proposals from different insurance agents. So far I have Philam Life, Prulife and Generali. I have yet to receive one from Sunlife. Pwede bang mandaya and ask you which one you got? I was surprised to find out that the one I did not really intend to check na sana (Generali) offered the best deal. Naloka lang ako coz if I would check all the lower ranking insurance companies, baka next year pa ako matapos sa pagkuha ng proposal pa lang hehehe.

        • hi sis, i think generali is a partner of BDO. I guess ok sila. Nakakaloka sa mahal noh?
          i got my insurance from insular. sila yun pinakamura na nakita ko.

      • Yes! Grabe sa mahal ang insurance! But now that someone would soon be dependent on us, I guess this is really necessary. Thank you so much for the lead and I’ve also consulted with Sir Efren, naencourage ako sayo =)

  10. Ooh, great idea! How much does Efren Cruz cost? Have you met with him?
    I envy you for being this organized. Ako I’m kuripot, but I don’t keep tabs on the things we buy. Maybe I already should, esp because of Raviv.

  11. Sis Maqui, thanks for this post. I bought a copy of Efren Cruz’ book. Hirap nga maghanap kasi out of stock in most NBS branches. I went to Congressional and they told me meron sa Trinoma so pinuntahan ko agad. Tapos pagtanong ko sa Customer Service wala raw. Buti na lang tiningnan ko uli yung shelf and ibang book na sana kukunin ko, nalingat mata ko sa isang side, ayun, nakita ko yung nag-iisang stock, hehe.. :) suwerte! :) malaking tulong siya talaga. :)

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