Notes from Benj & Fely Santiago’s Financial Coaching in Singapore
I got a chance to listen to a video recording of the Truly Rich Maker’s Financial Coaching held in Singapore on July 2011 by the couple, Benj & Fely Santiago — one of the founders of the Truly Rich Makers of the International Marketing Group (IMG) — an affiliate company of the World Financial Group (WFG).
It’s a series of video discussing about Financial Education based on the couple’s first hand experiences on how they achieved financial freedom from being indebted to debts many years ago. Their advocacy is to spread financial literacy.
Some of the concepts I learned are as follow:
IMG’s Steps to Financial Security
- Increase Cash Flow — we have to have business on the side in order to create more income.
- Manage Debt — we have to live simply in good and bad times by staying away from materialism & by becoming financially literate.
- Create Emergency Fund — we have to save our 3–6 months income to help us avoid debt traps.
- Ensure Proper Protection — we need to have solid financial foundation to protect ourselves, our family assets and against loss of income.
- Build Long Term Savings — we need to invest long terms in stocks, mutual fund, bonds, real estate, etc.
- Preserve your Estate — we need to prepare how to transfer our inheritance to our children.
The 3 Stages of Our Financial Life
- Man at Work — we work hard for the money.
- Man & Money at Work -we work hard for the money and money work hard for us.
- Money at Work — money work hard for us.
3 Basic Concepts of Financial Planning
- The X-Curve
- Pay Yourself First
- Rule of 72
4 Major Needs to Complete Financial Planning
- Income Protection/ Life Insurance
- Emergency Funds
I had a great time listening to their video, it’s like attending a live seminar abroad. Got to try it yourself too! Happy investing!