Retire from work, not from life
For many Filipinos, retirement is a challenging time simply because they did not prepare for it. You’ve probably heard the stories: savings were not enough, the family business failed, or a serious disability cost them their job early in life. So, they are forced to work even in their 60s and beyond. While having a pension from the SSS or GSIS can help fund your retirement, it should not be treated as your main source of income. Remember, these pensions serve as financial assistance and, given the rising costs of living, depending on them won't be enough. That’s why experts recommend having multiple sources of income to support your way of life – with the right .
Here are 3 great ways to accomplish this:
Get into real estate
Properties are a good source of income in life. If you own a house or a condominium that isn’t currently being used, having it rented is great way to supplement your earnings.
Remember that land appreciates in value over time, especially when it’s situated in a good, accessible location. So, when your children move out and have families of their own, you have the option to sell your lot, move to a smaller place and use your earnings from the sale to fund your retirement.
Get into investment funds
If you don’t have the time for an understanding of the stock market, an investment fund is a great, easy way to enter the world of investing.
An investment fund is managed by a professional fund manager who will do the research, analysis, buying and selling of stocks for you. The strength of an investment fund lies in diversification. Since the fund is normally invested in dozens, maybe even hundreds, of different stocks, your fund manager minimizes risk to your money while maximizing the fund’s potential to earn more.
Get into insurance
Insurance plans have changed over the years, offering more than just protection in the event of your death or disability. Now, insurance serves as an income source upon retirement. A variable universal life (VUL) insurance, for instance, provides insurance coverage while helping you build your savings as well.
Manulife Philippines has an insurance plan that combines life coverage with various investment funds –Affluence Builder Plus. So, why is the Affluence Builder Plus a great option to help fund your retirement?
Finances and RetirementRead more
Why you need insurance for retirement
Have a plan that will help you continue living the lifestyle you want after you retire. Let Manulife Philippines help you find the best options to secure for future
I’m still young - why do I need a retirement plan?
Have you thought about what will happen to you when you retire? If not. Then it's never too late to start planning and investing for your future.