The document discusses financial literacy and retirement planning among Filipinos. It finds that only 10% of middle-class Filipinos are consciously saving for retirement, and 84% have no formal financial plan. As a result, 45 out of every 100 65-year-olds are dependent on relatives, 30 are dependent on charity, and only 2 are financially independent. It concludes that communities will only become prosperous if financial literacy and planning begins now on an individual level.

1. Why Poor Filipinos Then?
32% of Filipino households have family members abroad
Among these OFW-supported families, 48.6% are investing
31.4% of these households earmarked money for bank savings
? ?? how the money is actually being invested. It’s been
reported that most of these families have bought assets
which later turned out to be liabilities. Furthermore, who
could forget the billions of pesos that was scammed from
Filipinos by various pyramiding schemes such as Multitel.
Ignorance lifestyle.. Luxury..uneducated..so they get back
abroad…

2. The Middle Class Filipino
80% of working, middle class Filipinos see a bleak retirement and more
than half expect to be supported by their children in their old age
Only 10% of Filipinos are consciously saving up for retirement
Among the middle class, 36% save regularly every month while 51% only
“save when they can”
90% attempt to follow a budget, but only 33% stick to it
40% pay their credit card balances in full monthly, while 22% pay only the
minimum amount due in their credit card statements
When asked about investing, 43% think they know exactly what to do if
they had money to invest, 53% have a “good idea” where to invest,
while 4% have no idea how to invest
84% of the working, middle class have no formal financial plan

3. Out of 100 Filipinos who are at age 65:
45 are dependent on relatives
30 are dependent on charity
23 are still working
ONLY 2 are financially independent
Out of 100 Filipino children who enter elementary school:
only 40 gets to attend High School
only 27 of that will go College
and only 10 of them will graduate
Out of 100 Filipinos who get sick:
95 of them will dig into their savings to pay for the doctor and hospital bills
but moreover, 53 of those will borrow money from family members and
relatives because their savings are not enough
and in the end, only 19 will be confident enough to pay for the total
treatment costs

4. there is actually some good news. One financial agency
reported that in a population survey, they’ve discovered that
more than half of Filipinos believe on the importance of saving.
However, the real problem lies in having the discipline to
implement their financial goals. Many attribute such
deficiencies to the lack of resources and financial know-how.
Conclusion:
if we want our communities to become a first worry-free &
prosperous city one day. Then, it should begin within us and it
should begin now.
How about you, where do you belong in these statistics? How
financially literate are you?

5. My humble solutions:
1. Work with God, mt 6.36
2. Hardwork / Discipline, prov 6.6 ( an ants way )
3. Give until it Hurts, but Give Generously
( Religion of an Economy of the Poor )
4. Education to become Independent /
Empowerment
( Entrepreneurship / establish business ), I thes
4.11
5. Plan for the Future | Financial Intelligence
( Savings / Investments )
( Knowing difference bet assets and liabilities
/cashflow
2 out of 10 filipinos saves but at times these 2
savers use to dip into savings

6. Wrong Formula :
Income Minus Tithes-Expense= Savings
Right Formula:
Income Minus Tithes-savings=Expense
@ Savings Must Be Diversified,…
can be 20% investment
can buy books or educational /
freelancing education….
90% buy tv, 10% buy books/investment
6. Faith and STD

7. PS :
“You, and Your Children’s Future Will
Be Determined By The Choices
You Made Today, Not
Tomorrow “
robert kiyosaki