1,500,000 advise (father loves debt)

[steven6208]

@muiris 16% hahahah!

 

[muiris]

@steven6208 Ang sakit diba

 

[steven6208]

@muiris Your dad need a psychological evaluation. Its very unusual.

 

[muiris]

@steven6208 He just needs to understand finance. That's why I am here

 

[tiiti]

@muiris does he think he's "winning" somehow on the math of this? or he really just does it for the motivation thing?

 

[muiris]

@tiiti I think its the latter.

 

[adam4581]

@muiris There are 2 kinds of debt. Good debt and bad debt. A lot of rich people have debt, they are actually advantageous. Your father is right, kung maghihitay ka kasi magipon, baka tumataas ang value nung plano nya invest so lalo mamahal. This is true especially with real estate.

 

[briarrose22]

@muiris Seaman ba father mo OP?

 

[briarrose22]

@muiris Oh ok akala ko Seaman yan dn kasi mindset kadalasan nang mga matatanda sa barko. hehe

 

[czertique]

@muiris There are good loans and bad loans.

Loan to buy an appreciating asset? Good*

Loan to buy a depreciating asset or unnecessary expense? Bad.

• it depends

 

[shadownsmoke]

@muiris Ibahin na lang ang motivation niya to work hard. Ang motivation ko ay monthly invest sa S&P 500 kaya gusto ko mag work hard. Ginaganahan ako mag work kasi lumalaki ang investment due to compounding interest at titigil ako sa 2050. Im 34 na 320k net monthly salary pero 26 yrs pa bago ako retire.

Ang pangit lang ng motivation niya kase loan ay may interest to pay. Ma surprise ako kung maapprove ang loan niya kasi na malapit na din siya magretire. Kahit 400k ang salary niya ay ilang years na lang wala na siya work.

May okay kung ibahin niya motivation like low risk low return investment na lang kaysa loan. Or government bonds nalang. May natitira pa siyang 5 - 10 years sa workforce at I think maliit na lang ang timeframe or short term na lang pag ganito so bonds is a safe bet. Try niya mag PH bonds, 5 years lang maturity.

 

[skyfae]

@muiris Hope OP sees this.

Just dont use it. Kung walang best option to use it for, then put it in a bank and not worry about it until a conservative opportunity seems right for that money or for use in emergencies.

Your gut is already telling you that it's an unneeded loan, follow ur gut. Just putting it in a bank is practically worthless, since its devaluating due to the loan. Pero youre letting that money be an open option at any time rather than putting it something that is not liquifyable and potentially high risk/high reward.

If he ends up paying for the loan, then thats good. If he loans again, then start looking at options ulit. Checkmate ka ngayon since its a value that doesnt give any options kc, pag mas malaki yan, mas maraming options na better.

Imagine if he does this routine in 2-3 years time, it would have x times more than what it is now.

 

[muiris]

@skyfae Thank you po for the input. This is true

 

[franklaine]

@muiris I'm looking for an investor,helping my friend to deliver his marine sand to one of the harbors here in NCR.He needs 5M for a start,he has all the documents,permits,licenses to show that his transaction is legit,willing to have a F2F meet up .Thank you very much&have a nice day

 

[klarch75]

@muiris I would suggest you to invest in property that can leverage your money. House and lot is not really a good option as its so hard to rent it out though, its a good investment as the property value appreciate. mas maganda pa din na may daily or monthly income like, condo or look for "Sanlang Tira" where you can find someone to stay there and pay you monthly or a condo? then, Airbnb for daily income?..

Regarding with your dad pleasure.. I guess, he needs to go and check a therapist if he is Loaning and not paying it. LOL.

There's nothing wrong in making utang naman as long as it is for good cause.

 

[boutsour]

@muiris If wala ka magagawa eh counter mo nalang yung interest by investing in stocks (wag pse sana no offense) that has decent returns per annum and not prone to volatility haha pero I recommend lockheed martin nfa tho

 

[virgy]

@muiris Well channel your dad’s urgent need to take loans into something else like business or getting a lot (through loan) then invest on it on an apartment or whatever is suitable. That way win-win, your dad is motivated to work hard, then you will have something to work on as well. Maybe it’s his own way of telling you to step up as well since 25 ka na.

 

[gcollin]

@muiris Lend it out then to leverage the loan interest

 

[smithwood]

@muiris That is the most back ward most mindset I have ever known. Kahit pa 700k per month and sahod ng ama mo at 55 y/old di mo masasabi ang panahon. Just saying na wag mo na sya hayaang kumuha ng 1.5m na loan. Kahit may pension pa sya or EF. Mahirap isugal ang kinabukasan ng dahil sa pagiging kumpyansa. Marami na akong nakita at nakasamang ganyan. Take it from me na ren. Malaking pagsisisi talaga ang mangutang. Malaki ren sahod ko pero nung nagkasakit family ko naubos kahit EF ko at kay misis. So again kahit gaano kalaki sahod, kapag health ang tinamaan. Mayayari talaga lahat ng savings.

 

[muiris]

@smithwood I do agree, unfortunately as mentioned in the post. He is set on getting the loan already.

What I can do is reparation na lang to cancel out the interest cost