One day, my mother went to a bank. She was interested in one of their investment products. The bank person sized her up, dismissed her, and said, “pang malaking pera lang ito” (this product is for persons with big money). Obviously, that person has a stereotype for what he considers rich. I feel sorry for that bank because they lost a potential client. I wonder how people with smaller capability, knowledge, and experience are treated.
I am not surprised why many of us are afraid to invest. Let alone ask and inquire about it. It is as if investments and other financial products are only meant for the rich.
The rich gets richer and the poor gets poorer.
When we were in college my friend and I would dream of becoming rich. During break time, we would look at stock prices in the newspaper and wonder how ever we can own a share of companies like Jollibee. One day My 17 year old self asked my mom. Like the bank person, she dismissed me and said investing is only for people who can afford to lose their money.
Can you think of anyone who can afford to lose their money?
Fast forward to 2010, I had my son at 25. My husband and I were living a carefree blogging lifestyle. We did not have regular work but spent our time doing what we love – writing, going places, and discovering new things through blogging.
How I wished I can raise our child in that setup. For the first time, I encountered the word financial freedom. In no time, I was back looking at investing and making my remaining savings work for me. But this time, my maternal instincts to give my son a bright future pushed me not just to look or wonder but to learn and research.
Stop thinking and start learning
I joined local forums about money, read financial blogs, and searched for online jobs so I can have something to invest. I was so driven I even started my own blog about personal finance. In my mommy blog, I wrote about how much it cost to deliver a baby in the hospital so that expecting moms can prepare. I wrote how moms can open a junior savings account to preserve monetary gifts to their babies.
My son’s welcome letter from the bank after opening a Junior Savings Account
I could only wish to write about investing but I couldn’t because I haven’t made a single investment even with my knowledge!
Who should I call when I am ready to invest?
Like an answered prayer, my husband was invited to a blogger event of a financial company. One of our blogger friends worked there. This was my cue to ask for an introduction to a financial adviser.
Finally my questions and intention to invest were no longer dismissed. It did help that I did my own research, after all it’s not a good idea to get into anything we do not understand.
My financial adviser and I agreed, an endowment plan for my son was the best choice. I cannot believe that 5 years has passed since then and in a matter of years that plan will be fully paid and we can enjoy a level of financial freedom – the one thing I wish that all mothers like me can have so they can fully experience little and fleeting moments with their own babies, without worrying about their future.
Today I also invest in mutual funds with the same financial company. Before you paint a picture of me that is rich or well-off, let me tell you that my first investment was just Php 5,000. I top this up whenever I can, sometimes I can, sometimes I can’t but the important thing is, I’ve finally invested!
I hope this post gives you the courage to invest or at least start learning. Don’t let other people discourage you. If I can turn back time, I wish I started investing the first time I asked my mother about it. But, I let other people dismiss me and my goals.
Don’t make the same mistake.
You can start investing, yes you can!
