Can 50 pesos become 50 million pesos someday?
No? Never? If you just keep it under your bed, of course it won’t.
But if you go to a reputable rural bank, open an account to deposit for 50 pesos and say the bank manager is your ninang (Godmother) and she gives you 3% interest for it. It can become 50 million in 468 years.
4 centuries? Ang tagal naman nun (that’s too long). You bet!
But if you open a time deposit and ninang, the bank manager, offers you 5% interest, it can become 50 million in 284 years.
Still too long? But hey, that’s almost half the time it will take if you just stick with 3%.
If you invest it in a mutual fund or a retail treasury bond that gives you an average of 10% interest per annum, it can become 50 million in 145 years.
Again the waiting time is almost halved.
If you invest it in stocks, that gives you an average yield of 15% per annum, it can become 50 million in 99 years!
Won’t that be a nice legacy to your grandchildren?
The point here is that the lowly 50 pesos na usually pinambibili lang natin ng load (that we just use to topup our cellphone) has the potential to grow into millions!
Amazing, isn’t it? Now I don’t dare belittle a 50 peso bill nor a loose change again.
If you can save 20% of your income and invest them wisely in high performing mutual funds and/or stocks, you'll become a millionaire within your lifetime!
Oh goody, we can be millionaires while we're still alive.
Bo Sanchez is such an inspiration. His mission to educate Filipinos, help them gain financial wealth and spiritual abundance is truly admirable. I am such a huge fan. When I attended the Truly Rich Seminar yesterday, as it was my turn to have the book I own that he authored signed; I didn’t hesitate to thank him.
The seminar was truly an eye-opener. The Php475 ticket I paid for it was worth it.
For those who missed the seminar and who love to attend the upcoming seminar but just can’t because you are currently overseas, I will share more excerpts from the seminar in this blog.
Of course, it’s more enjoyable to attend it and hear these valuable truths from the gifted speaker himself. If you’re interested to learn when and where the next seminar is going to be held, email email@example.com or call +63 (02) 722-9562.
Or you can also be a member of Bo's Truly Rich Club.