Better Way to Celebrate Third Birthday

Whatever age that may be we all have the excitement when our birthday's is fast approaching. We tend to plan and wish to have a birthday bash of our own version. We are excited because we celebrate our date of birth, what makes it even exciting is we tend to gather all friends for one day and celebrate it with laughter over food, wine or liquor and beer or we tend to spend it somewhere as a gift for a year of success stories.

Gearing up to Jollibee for Ayesha's 3rd Birthday

But what about if it is our child's birthday party that comes up.

I am sure we have a lot of ideas popping in our mind when we think of our child's 3rd birthday party. However, I would like to share a story from my inaanak's (godchild) third birthday party and why it was successful.

A 3 year old child definitely can already express their ideas and maybe have some idea on how a party would look like. They already have these excitement towards their birthday party.

Over Christmas celebration her Lolo Bernardo asked her where she wanted to have a party. Ayesha (my inaanak) answered smartly "JOLLIBEE" (a food chain) and so her wish is definitely granted. In her action alone, I know she already have an idea as to what fun is. She already have an idea as to what she wanted.

Here's the learning's I got from what happened:

• Engage your children in the planning of their party. In this way, you are also teaching them to make decision. As a parent, we are just there to guide our children. Let your children do the planning you will just guide them if they are going out of control. It is what they want at that certain point in time that they enjoy the most.
• You should also be explaining the budget to them and that they shouldn't be going over the budget. In this way, you are teaching your children at an early age the value of money.
• Allow your children to explore their creative side while having fun. At this early stage I strongly agree with the expert that these children at this stage wanted to play. Let them play around and ask for their suggestions like what kind of food they wanted to serve on their birthday or giveaways or even her dress.
• To guide them, ask them for choices and maybe a few reason why they choose what they chose over the other. In this way, you are developing good reasoning skills.

Spell EXCITEMENT! this children are pretty much excited with what is about to happen.

This shall are different happy faces showing it off with the camera.

Am sure seeing this cake makes the Lolo really proud.

I also noticed how a grandfather so excited to witness the happenings of his only grand daughter. We turned on our Skype for him to see at least the first part of the party at Jollibee. I think that is more than enough for him to be inspired while working abroad for his children and now grand children.

Planning for Retirement will be My New Years Resolution

I am not financial expert nor a financial literate. However, over the past few days I have been thinking what happens to me when I retire. Then suddenly I came to realize that this would be my greatest failure. I should have been saving for my retirement the moment I started working.

There'd be so many ways and tips written about how to plan for your retirement. Financial experts will always have to say something about for to plan for a retirement. The thoughts actually that has been bugging me is AM I READY TO RETIRE when it is about time to RETIRE?

Planning for a retirement for sure is always the best way to go about it. Planning is definitely tedious and mind bugging. In my own idea, in order for you to plan for a retirement is you'd have to come up with a process on how you could achieve a successful and easy retirement. Part of which is definitely forecasting your future needs. Forecasting is the first step to a successful Retirement Plan.

Forecasting could be as simple as listing down all your possible expenses in a given point of your life. Of course FORECASTING is too technical to most of us including me. But, I am referring to the easier one which is the Qualitative Forecasting where it is really subjective and it is purely based on your own judgement. Though it is based on your judgement and subjective in nature you would have to put in mind that you would have to be most factual. In my case, I would forecast that the moment I will retire, I will be spending at least Php 3500 to Php 6500 per month on medicine and maintenance, Php 1500 on electricity and Php 500 on water bill. Since I am alone, I would be spending at least Php 1800 on food and beverage per week Php 4000 per month for phone, cable tv, and internet services and the list goes on. After making the list of the most possible expenses I would have to multiply it for 20 years granting that is if I will retire on the age of 55. Oh by the way if you plan of travelling after you retire, then you would have to add that on your forecast.

After forecasting, then we have to think of all our expenses. Of course, we don't just forecast our future expenses, we have also have to plan on how we could reach our goal.

So here's what I will be doing for me to achieve my Retirement Plan.

1. Its been said many times in many articles about retirement that the best way to fund your retirement is by cutting down your expenses to ramp up savings. I find it logically correct. Well though it is true that one of the many reason why we strive to look for a better job offering a higher compensation is because we wanted to live the life we dreamed to have. I am not saying that I wont be buying new clothes for the next 10 years or not going to a movie house for the rest of year. What I am trying to say here is I will be cutting my expenses on a so called extravaganza expenses.
2. Saving Saving Saving and more Saving. I am guilty on this part. At age 30, I still don't have financial savings. For me I am already at the verge of what I call financial suicide. I have a 30 year mortgage which means, I can only rest from paying off my mortgage at the age of 60. With the expenses I listed above I should now start saving a portion of my earnings. However, with the economic situation of the Philippines and the fluctuation of prices of common goods then it would mean that I would need to triple my effort in saving. Bottom line here is for me to save as much money as I can while I am working and while there are companies who would like to hire me.One goal is by the end of 2014 I should be able to secure a different Bank Account number as my retirement savings. It is always best that this should not be withdrawn by any chance. It is always a good idea as well to add more every time I have an achievement whether my personal, business, and or professional life.
3. Invest. I personally think that investing would be the perfect avenue for me to save more for my retirement. However, I think the best way to invest my money is through mutual funds. However, dont just invest on any mutual funds but rather it should be to a reputable and stable companies offering such investment terms. Here's a good read about mutual funds: Grow Your Money In Mutual Funds
4. NEVER RELY ON SOCIAL SECURITY SERVICES. I had been talking to most people in their 40's to 50's from taxi driver, construction worker, office workers and to some managers. One thing I found in common is most (but not all) are dependent on their SSS contribution as part of their retirement plan. For me, it is retirement suicide if we depend on SSS to cover for all our needs when we retire. Though we should be expecting that from the government, I think it will only cover a very minimal part of our expenses when we retire. I knew some people who receives Php 2500 every month from SSS as a retirement benefits and I think that will only cover either electric bill.
5. STAY AWAY FROM DEBTS. I think this would be the hardest on my par but I will try my best not to incur more debts. As they always say, I should learn more to stay within my means and not over spending.
6. Company Retirement Saving Plan. One of the many reason why I am staying with my current employer is because of the fact that they offer a company retirement saving plan. So I will urge everyone to ask your Human Relation Officer about a possible retirement saving plan sponsored by the company. Know their terms and condition and always make sure to get the highest percentage cut from your salary normally that's approximately 3% to 7% cut.