Though I'm only 20 years old (YES, I'm 20, hope I look and act my age), I love looking into economics and investments to make sure I'm well-equipped and prepared for anything that may happen in the future. Thanks to another invite by Sun Life, I am now more knowledgeable about the market today and how it works!
I was invited to Sun Life's Market Outlook of 2017, learning more of what's in store for Sun Life and
investors in the Philippines for the years to come.
I'm very thankful for past me absorbing a thing or two from Accountancy and Economics, as I got to understand *some of (JK)* the things discussed during the presentation. :P
I'm sure you all know that the exchange currency has hit a new low (50 PHP = 1 USD!), and while it's beneficial for freelancers like me, it definitely won't do great for the economy in the long run. It's got people thinking if it's great to invest at this time or to wait it out.
Based on their studies and forecasts, we can see that the economy, though slightly dwindling, will start to become better as soon as Trump's policies are laid out, as this gives investors more assurance on where to put their money in.
Aside from that, they also showed studies on how employment rate is doing, from the BPO to manufacturing sectors. While the growth rate is slow, it is rising and improving as the years pass.
Basically, we can expect a rise in our current state and still retain the name as the country's fastest growing economy in Asia. Michael advises investing while stock prices are low to get a higher return in the long run.
When asked how they can help "less sophisticated (I would rather say people who aren't familiar with investing)" people, they introduced a financial literacy program where they educate people with how they can start investing at an early age.
A piece of advice from the ALSMCI President (Which I strongly recommend to others as well!): Invest now while you're still young and focus on the long-term goals. Have the patience and discipline, and you'll be able to reap the benefits investment has in the long run. This is actually a piece of advice I've been told by trusted people (By that meaning my parents and older relatives!), which is why I make sure to search up on ways to make my money grow slowly but surely.
Do I seem like an adult yet, though? LOL! Like what they said, it's never too early to start investing. With Sun Life's stability and security, I'm sure I'll be able to create a good future for my future family (UUUUY!) and I. They have a ton of benefits and programs millennials can look up on, with some being as low as 300 PHP a month! If you want to check out what else Sun Life has to offer, check out their official website here.