With my sympathy, I decided to write my reply as an open letter, because I believe many people can relate. Please read up to the last line.
An open letter to Engr. JD.
First of all, I would like to express my sympathy for the loss of your beloved grandma.
Yeah, I’ve been there a few years ago; granny died year 2003 at the age of 66.
Her death was unexpected, she was not confined in the hospital. She died in our house. But she had been under medication for about 2 years at that time due to her complications (diabetes, arthritis, etc.)
Those time, I was innocent (especially when it comes to finances).
Upon her burial, I’ve found out that my aunties had get her a Memorial Plan few years ago. That’s good, I guess. At least our family don’t have to shed out big bucks for her burial. But I also noticed, few years ago when she was under medication, my family found it really hard to support her financially. There was nothing really saved for her medication. Only few pesos from her SSS pension and other senior citizen benefits, plus some financial support from other family and relatives, are the sources of funds she has during those time.
Fast forward to the present time…
Last year, I became aware of financial literacy. I had lots of realizations last year when it comes to finances and investments. I know you also have high knowledge and on-hand experiences when it comes to investments, and I want you to know that somehow I see you as one of the people I look up to. Hehe. But I do have lots to share with you. But these are the most important realizations I had as of this moment, which I believe connects with what you’ve realized as well.
1. “whether we like it or not, we will have to pay premium for our health” – really agree with that! That’s why I’m spending more for my health and diet :P (fruits and veggies, plus supplement). But for me I believe that health is our biggest asset, up to our very last breath.
As of the moment, we are young and healthy. Whenever we get sick, we won’t bother too much for our medication and hospitalization bills because everything is taken care of by <insert the name of our company>, right? But we know that we won’t work forever (dahil daw WALANG FOREVER!).
Whether we like it or not, we will retire sooner or later; it just depend on when we want to (it’s a separate discussion, I guess). The point is, when we retire, will our company still continue to give us the benefits we are getting today, especially the healthcard we have? And will our company continue to insure us when we leave this company? 'Bet you know the answer, and that’s a reality we can’t deny.
2. “Time is an asset we can never recreate, so the best choices in life on health has to be made NOW.” – Yeah, time is our best alley. The earlier we invest, the better, regardless of the strategy you use. When it comes to healthcard, do you know any HMO company that offers healthcard for people beyond 65 years old? I’m not very sure if there is, but in case there is, I believe you have to pay big amount for that. So what I did was, I get a healthcard today (aside from the one given by our company), which I will be using by the time I retire.
Today, we are young and healthy. But as we grow older, we become weaker. And the worse part, when we are already retired, we don’t have healthcard anymore. Where will you get your payment for your health needs? From the money you invested in the stock market, MF, UITF? What if the market is down up to negative (exaggerated, but possible to happen).
I believe that your supplement products is good, and I highly honor your advocacy.
Bottom line, we have to protect ourselves first, especially our health status when we retire, before diving into any kind of investments.
For your Abundance,
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