Monday, July 26, 2021


Everyone’s life journey is different. The many choices and decisions you make along the way will lead you to different paths and produce different outcomes. But it’s safe to say that everyone wants to live a secure and comfortable life from here on out.

With smart financial planning, you can be in control of your finances and live a worry-free life. The sooner you get started on securing your future, the earlier you will reap the rewards.

If you’ve lost track of your finances because of the demands of life, that’s okay. You can take back control and change your life’s trajectory. It’s never too late to start and make better decisions that will positively impact your financial future.

From early career to retirement, you can map out your future with a solid and comprehensive financial plan.

Early Career

Your early career is very important when it comes to financial planning. This is the period of your life where you lay out your plans and work to turn them to reality.

Because you’re starting on a clean slate, anything is possible! Just remember that the decisions you make during this stage will lay the groundwork for your financial plans and impact your long-term financial health.

In short, this is where your ‘adulting’ begins. There will be bills to pay now, and you’ll be shouldering most of the expenses at home to help your parents out (if you haven’t moved out to get your own place already).

Thus, your main focus during this period is managing your cash flow to make your budget work.

But the truth is it’s easier said than done. Since you’re just starting out in your career, it can be challenging to meet all your financial goals, especially on an entry-level salary.

Whether you’re earning 15,000 or 150,000 a month, the prices of commodities are the same for everybody. The prices of goods and services will not adjust to your income.

But even with a meager salary, you can still make it work by managing your finances. Plan your short-term and long-term goals. List down your monthly financial priorities, making sure to pay off your bills first. Then decide what you want to do with the money you have left.

Why not open your own savings, checking, or time deposit account to kickstart your savings goals? If you have 5,000, 10,000, or 25,000 saved up, you have many savings options that will suit your lifestyle and boost your savings goals.

For instance, RCBC's OneAccount combines the features of savings, checking, and time deposit in a single account. It also allows you to earn higher interest as well as customize its features according to your needs or preference--from choosing between having an account with zero maintaining balance or no annual fees, to which you can add-on features such as free life insurance coverage, card insurance, personal accident insurance, and free withdrawal at any Bancnet ATM. It comes with an ATM Card, Transaction Journal and Checkbook. Base rate is P10,000 but you can increase it if you want to avail the full features of this type of account.

You may also opt to put your money in low-risk investments that can help your money grow over time. For example, you can invest in RCBC Unit Investment Trust Funds (UITFs) for as low as 5,000. Money market UITFs are low-commitment investments that are also convenient and accessible.

Enjoy what you earn, but think about your future as well. The important thing is to spend responsibly and save money so you can afford to spend guilt-free!


 By the time you reach your mid-career, your focus will shift to building your wealth for the long-term and protecting yourself financially. 

From buying the latest gadgets to saving up for exciting barkada trips, the next life stage will have you saving up for your wedding, your first home, your first child, or your first business.

During this stage, your income will have increased, and you’re likely to hold a better and more stable job.

Because of your increasing financial responsibilities, you should also prioritize maximizing your savings, increasing your income sources, and growing your investments.

This will not be easy, especially when your household income is only just enough for your daily expenses. But if you were able to save during the early career stage, you can now use a portion of your savings to pay for the down payment of your house or your child’s tuition. You can even get that business started.

The goal is to earn more passive income, preferably on a low-risk investment product. If you have 100,000 to invest, you can explore RCBCs fixed income securities, such as Treasury Bills, Retail Treasury Bonds, Local Corporate Bonds, Fixed Rate Treasury Notes, or Foreign Currency Sovereigns. Or if you are looking for more affordable investment options with higher earning potential, you can also try the more aggressive UITF products such as the Bond or Equity Funds.

Moreover, your life and health insurance coverage should be sufficient and in force in case anything happens to you. No one knows what the future holds. In the blink of an eye, you can lose everything you’ve worked so hard for, so it’s a must to have protection.

At the same time, start saving up for your own retirement. It may seem many years away, but it’s sooner than you realize. While you still have the earning capacity, prepare for your comfortable golden years.


By the pre-retirement stage, your children will be almost finished with college. Your mortgage will also be almost fully paid.

For a lot of Filipinos, there will still be plenty of financial strains in the pre-retirement stage. Especially when there are just too many financial obstacles and not a lot of income opportunities.

Your retirement is something you prepare for as soon as you receive your first paycheck. Your current age and the age you want to retire will help you create a retirement strategy that works.

Don’t panic if you’re only ten or fifteen years away from retirement. This is still a lot of time to build a retirement fund.

A pro-tip is consistently and regularly building up your retirement fund overtime. For example, investing P5,000 in RCBC Equity Fund every 1st of the month for over fifteen years, without fail, is a sure way to build your fund.  You accumulate P900,000 in principal plus the unlimited potential earnings of your investment over fifteen years!

If you have a more substantial savings at this point, Investment Management is another option that can help maximize the earning potential of your portfolio. A team of financial experts can guide you based on your investment preferences and parameters or they can also make investment decisions on your behalf.

Evaluate your progress regularly to make sure you’re on track and see if you need to change anything in your financial plan. Consider present risks that may prevent you from reaching your financial goals, and then do everything right now to fill in the gap. Even if it means getting a side gig, changing your investment strategy, or even pushing back your retirement date.

Set clear financial goals when you reach these life stages and strive to achieve them. This way, you can worry less about your finances and be in control whenever you encounter financial hurdles.

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