1,500,000 advise (father loves debt)

[chaorabite]

@muiris Personally AREIT or MBT or RCR stocks. These 3 have decent returns and stable prices. But don't take my word for it I'm not a registered Financial Planner

 

[muiris]

@chaorabite Thank you ka reddit. Will study these

Do you have suggested reads/groups po for these investment to read, study and observe?

 

[chaorabite]

@muiris The subreddit discord is good, look it up on the sidebar

 

[muiris]

@chaorabite Thank you Sir

 

[joerev]

@muiris The dividend yield of stocks would most likely be less than the interest of the loan, stock appreciation and depreciation would be a gamble. If it wasn't a loan then itd be nice but I dont think practical in this case. Im not sure If theres something I dont understand though, isnt 16% interest per annum ridiculous? Only inquired for a condo loan recently and that was 7%, not sure if thats the norm for a cash loan tho.

 

[muiris]

@joerev He is planning to take the loan from an international bank, that is why I want to find investing alternatives to atleast partially cancelout the interest

 

[joerev]

@muiris If hes still planning, why not ask around locally ask well if they can get you a better deal on the rate. Im assuming since youre asking what to do with the money he wont be keeping it to himself anyways so which country the money comes from shouldnt matter as much?

 

[muiris]

@joerev Yes I am also on the move convincing him to just get it here kasi parang mas mura pa here locally.

Unfortunately since new pa lang siya sa work most banks tinatanggihan kasi they require raw 6-12 nonths for OFWs

 

[muiris]

@joerev Yes I am also on the move convincing him to just get it here kasi parang mas mura pa here locally.

Unfortunately since new pa lang siya sa work most banks tinatanggihan kasi they require raw 6-12 nonths for OFWs

 

[syderic]

@muiris There is a good debt and bad debt which one is your father doing OP?

 

[muiris]

@syderic I do think a debt is bad if it does not counter the interest cost of debt..

It motivates him to work harder, this is just his reason to get the debt. No plans for use of the money whatsoever.

I just want to help him manage the money better.

 

[seth2015]

@muiris I'll give a different perspective from the rest of the comments:

He's old, I know how hard it is to find motivation to 'go further ' and I'm sure he can pay it back, maybe this is his way of working harder, giving purpose to life(?) (we all know its bad), so how about this...

Ikaw mag influence where he can take those money, dont dictate just maybe always have it as a topic whenever you guys are talking, influence him to spend it to become a shareholder ng blue chip companies or other potential investment youve carefully studied.

Just don't mimic his ways when you grow old...

I gave this perspective kasi i know alot of old people who has it all BUT the drive to live longer.

 

[muiris]

@seth2015 This is really true .

My father altho addicted to debt is really a good person and kind at heart. He also grew up poor.

This is why as a son I am trying to cover him for his lapses, because that's what a family does, to have each other's back

 

[shannmisteri]

@muiris Sometimes you need to let him deal with the consequences of his actions. Not because they are family means unlimited tolerance of BS

 

[dwells]

@muiris Eh usually pa naman the interest for debts or loans sa bank are far more higher than their time deposit or even in special deposits nila for investment.

So kung 10% interest for loans, 5% interest income, matic 5% loss na yun

And he's not getting any younger, tatay ko nga inatake 56 namatay. I think it's much better to have cash on hand for emergency purposes. Hindi naman iiyak un pera sa bangko

 

[gto5050]

@muiris Stay away from “Financial Adviser” at oofferan ka lang ng VUL.

 

[muiris]

@gto5050 Yes po. I am more financial literate than most financial advisors who just know insurance offers po.

Thank you for.the advise po Sir

 

[ledinh121189]

@muiris I suggest convince your dad to talk to a therapist because getting “addicted” to anything is not normal behavior, let alone getting addicted to borrowing money for no intentional purpose at all. After that, you can re-evaluate as a family what financial goals you want to build upon. Para may beneficial na dahilan naman yung pangungutang.

 

[blessedblythe]

@muiris Kung walang pagagamitan, invest nalang sa real estate. Paupahan or condo para at least bumabalik yung pera

 

[bferg333]

@muiris account mo rin ung inflation ng money, if productive naman at income generating or may bibilihin na asset na minor ang depreciation, interest - inflation n lng pra d masyado malaki sa paningin, if nakabagak lng pera nya na inutang nya then a big no, wag na umutang