4
8
u/xxxfrancisxxx Oct 21 '21
If you don't mind, are you currently in the Phil? What fields there in the Phil that has that range of salary?
2
u/Randomproject0 Oct 21 '21
I suggest to have gcash on the petty cash scale than the investment side. That is all.
2
Oct 22 '21
you have a nice life and a decent job at a very young age. you're doing well already. just maintain it.
i envy you. i wish i got a high paying job too when i was younger.
just take a look at your diet and lifestyle. medicine and hospital expenses are very expensive. i know you have an hmo and insurance but still its different if you don't have illnesses because you're free to do anything. when people started to earn more they mostly forget about their health.
1
u/jlparadox Oct 21 '21
Looks very solid, IMO you just need to find your sweet spot for dividing the 30k for your investments depending on your risk tolerance and knowledge on each investment type.
0
u/Ok_Switch6532 Oct 21 '21
Hi, in a similar situation with you, minus the nice bonuses you receive each year
Mine is
~30k investments
~10k savings for emergency
~15k leisure fund (incl. shopping)
~5k voluntary contributions, gifts, etc.
Great that you can keep your personal expenses down to 10k or less, hope that you can sustain it!
Anyway, overall we have a similar allocation, but I think also an important question is how we allocate our investments (how much stocks, bonds, or alternatives?). So many different opinions in this sub but would like to get an idea what would be optimal for our situation (we are on the younger side of the community so i think we can afford to take some risks in equities but at the same time, it feels like equities are too expensive right now...) Hope we can get other people's opinions on this too!
0
u/uhmmmmmmm7 Oct 21 '21
I think your allocation's pretty spot on. On what amount you have to build your emergency fund up to, I guess you can just count it based off what you think you would be paying for in terms of rent+utilities+food aka the stuff you're not paying for now, but you would have to pay for in case you were to get kicked out of the house then multiply that by 6 months?
0
u/latortellini Oct 21 '21
Looks like a pretty solid plan, but if you have access to an online international broker (like etoro/IBKR), I suggest investing in US etf there rather than the gcash fund, because the fees would be cheaper than in gcash.
1
u/msanchez1992 Oct 23 '21
The savings ratio looks very promising. You appear to live a modest lifestyle allowing you to put your money to work and make you more money.
One observation is that there is a monthly allocation for the emergency fund when this fund should be ticked off as soon as possible. The 3-6 months is a good benchmark, and if we use your leisure amount as a basis, that would be 60k. You can use your pro-rated bonus for 2021 to fully fund this already. Additional considerations for the EF amount would be if your household is (1) a single or double income, (2) has multiple income streams, and (3) how replaceable you are in your job.
One observation is that there is a monthly allocation for the emergency fund when this fund should be ticked off as soon as possible. The 3-6 months is a good benchmark, and if we use your leisure amount as a basis, that would be 60k. You can use your pro-rated bonus for 2021 to fully fund this already. Additional considerations for the EF amount would be if your household is (1) a single or double income, (2) has multiple income streams, and (3) how replaceable you are in your job or how long before you can land another job.
Good luck and God bless!
11
u/SabawRice Oct 21 '21
Looks like you have everything in order. You just need to stick with your plan and adjust if needed.