Fast forward a decade, what did I have to show for it? Aside from having no debt, a pretty banging life full of adventure, i had zero saved up. Nada. Zilch.
Really a story that many of us share. Work and toil with just survival as the results. How was I going to grow my money when I had a fulltime job that would keep me away from starting a business? I had jumpstarted a couple of businesses before, partly funding a carwash and other monkey business but were never succesful as i couldnt devote the time and effort needed.
I thought deep and hard (no innuendos intended). I wasn't a fun of networking deals as I really think all of them are just pyramid schemes. I did not want to go abroad as I kinda like the PH. (I have been to the US, SG and HK btw).
I figured I was really good at figuring things out and I had the capability of building some (not a lot) capital. I would go into stock investing!
In no time, I read up on how to sign up for COL and had completed the paperwork. I had decided that I would do my own stock picking as againsta managed funds such as Sunlife or Pru due to the difference in fees they charge you. Management and trust fees along from my wife's Sunlife take up more than 3% of her funds annually. So in order to beat inflation of around 3-4% a year plus fees, she needed to make at least 7% to break even. Wtf.
Col was substantially cheaper especially if you think about how they've priced transaction fees. I felt i had the braintrust to figure out how to make money in stocks. I logged into their website, transferred (funded) my account thru my Bpi online account and bid for my first stock. A nice safe stock in my opinion-Aboitiz Power. My reasons were that I lived in Cebu and knew Veco very well. Great service and i knew Cebu had veen growing exponentially for the past decade. I also knew electricity would be something that we'd always need and all businesses including the call centres would be clamoring more of. I also knew the Aboitiz clan were good people. Philantrophists and good businessmen.
I sent my bid in and lo and behold, i had stock! I owned shares now. I was a proud and savvy investor and had a portfolio. Lol.
I was on my way.