30 day Saving Challenge!
I am a Money Magnet! We are Money Magnets!
A few days back we received a newsletter from Bo Sanchez about overhauling one's life in 2012 to be able to start anew this new year and get rid of bad habits that are already in our systems. It reminded us of our organizational behavior class in MBA where in we were tasked to modify a bad habit and keep a journal of our progress for 30 days. Indeed bad habits and behaviors can be modified. And it is within our power to do so. You may ask why this is necessary? It's simply because, if we may quote Bo, "It's habits. Success and failure aren't actions. They're habits."
It is a fact of life that the most successful people are those that have acquired the right habits for success. We at Money Magnets also believe in this fact that's why we are sharing here the seven steps that Bo has enumerated to help us change our bad habits and we encourage everyone to join us in this 30 day challenge. It's a great way to start this transformative year of the dragon! Continue reading the article to get the 7 Rules for this 30 day challenge!
Philippine Business and Economic Outlook Forum 2012
I am a Money Magnet! We are Money Magnets!
Philippine Business and Economic Outlook Forum
January 21, 2012, 1-6pm
Sunlife Training Center, 7/F ACE Bldf., Rada cor. Dela Rosa St., Makati City
Merry Christmas Money Magnets!
I am a Money Magnet! We are Money Magnets!
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| Merry Christmas! |
"When you wish upon a star
Makes no difference who you are
Anything you heart desires will come to you
If your heart is in your dream
No request is too extreme
When you wish upon a star
As dreamers do
Fate is kind."
-Lyrics from "When You Wish Upon A Star" by: Louis Armstrong
How to Make your Finances Crisis-Proof
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| Chinese Characters for "CRISIS" |
Staying Calm During The Storm:
Tips on How to Make Your Finances Crisis-Proof
By Nina Laquindanum
For quite some time now, investors throughout the world have continuously been shaken by the news from Europe. The debt crisis of Greece, the European Union’s bailout plan, and the shocking announcement of former Greek Prime Minister Papandreou to hold a referendum have just been some of the events in the past weeks that have left the world watching the drama unfold from the edge of their seats. The past few days, the focus has somehow shifted to Italy as investors remain cautious about whether it will be next to take the hot seat after Greece with its debt. While news in other parts of the world do not seem as drama-packed as Europe, the bankruptcy filed by MF Global Holdings Ltd., the high rate of unemployment in the United States, as well as the slowdown in the economy of China, are among the other stories which have made investors skittish about what lies ahead.
PERA Tax Rules are out!
I am a Money Magnet! We are Money Magnets!
News Update: The Personal Equity and Retirement Account or PERA tax rules have already been issued by the Bureau of Internal Revenue. With this development, RA 9505 or the PERA Law which was signed 3 years ago can now be finally implemented.
According to the news article from Business World Online:
Revenue Regulations 17-2011, published by the BIR yesterday, state that a resident Filipino can contribute a maximum of P100,000 per year to a PERA account, while overseas Filipino workers (OFWs) are allowed up to P200,000. An individual can hold a total of five PERA accounts.
The contributions, which will be received and administered by accredited financial institutions, can be invested in various products such as trust funds, mutual funds, insurance, pre-need plans, government securities and listed equities.
The contributions are exempted from a host of taxes such as the final withholding tax on interest, capital gains tax on the sale of bonds and shares, 10% tax on cash and property dividends and regular income tax.
PERA holders are also entitled to an annual tax credit equivalent to 5% of all their contributions for the year. Resident Filipinos can charge this tax credit against their income tax liability. OFWs, exempted from income taxes, can charge this against any other national internal revenue tax liability.
The PERA assets will be released once the account holder reaches the age of 55, as long as he or she has made contributions for at least five years. The release can be made either as a lump sum or as a pension. The assets will also be completely released upon the death of the PERA contributor, regardless of age.
RICH DAD ASIA Coming to Manila!
I am a Money Magnet! We are Money Magnets!
Rich Dad Asia is bringing to Manila this October, Mr. Bellum Tam, multimillionaire and Robert Kiyosaki's business partner here in Asia. As the popular book Rich Dad, Poor Dad always ask: "Are you ready to get out of the rat race and on the Fast Track to Financial Freedom?" Then this workshop might be the right one for you. Workshop details and instructions on how to register for the workshop after the jump.
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