Is Pag-IBIG MP2 a good investment that will make you a millionaire?
YES, Pag-IBIG MP2 can make you a millionaire. With the right amount of dedication, discipline, financial literacy and of course money, you can become a millionaire if you invest your money in Pag–IBIG MP2.
I will show you how in this article.
But first,
What is Pag-IBIG MP2?
The Modified Pag-IBIG II (Pag-IBIG MP2) Savings Program is a special voluntary savings facility with a 5-year maturity, designed for active Pag-IBIG Fund members who wish to save more and earn higher dividends, in addition to their Pag-IBIG Regular Savings.
Pag-IBIG Fund
The Pag-IBIG MP2 is open for the following investors (basically composed of the members of the Pag-IBIG Fund):
• Active members (members with at least one (1) monthly savings (contribution) within the last six (6) months.) – both from the public/government and private sector.
• Former Pag-IBIG Fund members (pensioners and retirees) with other sources of monthly income, regardless of age, and with at least 24 monthly savings prior to retirement.
• Natural Born Filipinos, who reacquired their Filipino Citizenship pursuant to RA 9225 or the Citizenship Retention and Reacquisition Act of 2003, with at least 24 monthly savings prior to permanent migration to another country.
• Overseas Filipino Workers (OFWs)
Beginning 2009, Overseas Filipino Workers (OFWs) have been covered by Pag-IBIG Fund membership as provided under Republic Act No. 9679.
From such time, the Pag-IBIG Fund has been enlisting the help of POEA to make it easier for OFWs to pay their Pag-IBIG contributions. As members, OFWs are able to enjoy Pag-IBIG benefits such as savings with dividend earnings.
As of 2021, 78,850 OFW members voluntarily save under Pag-IBIG Fund’s Modified Pag-IBIG 2 (MP2) Savings Program, where they earned 6% in dividend returns for the year.
Pag-IBIG Fund
How can you earn money and become a millionaire with Pag-IBIG MP2?
In the above definition, we can see that Pag-IBIG MP2 is both a savings program and an investment vehicle that provides dividends.
This means that, while saving money under the Pag-IBIG MP2 you are also earning dividends. This is where becoming a millionaire with Pag-IBIG MP2 begins.
My formula in becoming a millionaire is this: earn money, save money, invest money and repeat the process. This is the reason why I said earlier that it takes dedication and discipline if you want to become a millionaire.
Millionaire’s Formula = Earn. Save. Invest. Repeat.
moneyger.net
How to earn money to invest in Pag-IBIG MP2 and become a millionaire?
There are hundreds if not thousands of ways to earn money for Pag-IBIG MP2. Diskarte, talino, tyaga at sipag, at pananalig sa Diyos lang ang puhunan.
I earn money through the following ways and what I do is set aside certain amount of money and invest it to my invest vehicles which include Pag-IBIG MP2:
/ Salary, allowances and bonuses from my work
I asked my employer to deduct a fixed amount of money per month from my salary and remit the same to both my Pag-IBIG Regular Savings [MP1] and to my Pag-IBIG MP2 savings account.
Likewise, if I receive additional allowances and bonuses, I also set aside certain amount of money, at least 10%, and invest it to Pag-IBIG MP2 and to my other investments.
/ Dividends from my investments which includes Pag-IBIG MP2, GInvest, Insurance with Equity, UITF, etc.
Here’s another way how I earn money so I can invest in Pag-IBIG MP2. I reinvest the dividends I earned from Pag-IBIG MP2 itself and Ginvest and takes the benefits of dividend compounding.
On the other hand, I also invest in insurance with equity and UITF to take the benefits of capital appreciation.
What I would like you to copy from me here is that, don’t spend your earnings (dividend income) to non-value adding things (i.e., unnecessary expenses).
Instead, reinvest your dividends, take advantage of the power of compounding, so you can earn more money. Do this consistently and you will become a millionaire in due time.
I also earn money through the following ways/sources:
/ Income from my online businesses (primarily from content creations)
/ Income from goods and stuff I sell online
/ Capital appreciation through real properties
How to save money for Pag-IBIG MP2 and become a millionaire?
“Do not save what is left after spending, but spend what is left after saving.”
Warren Buffet
Warren Buffet said, the most effective way to save money is: pay yourself first; which means before spending your income to any of your expenses, first set aside money for your investments. Do not save what is left after spending, but spend what is left after saving.
Take note that “investments” here mean both investment for yourself (personal development) and financial investments.
Personal development investment simply means you invest in yourself to become better and thereby achieve your goals in life which may include being better in financial literacy with the end goal of achieving financial freedom.
With the above, may I may ask you, which of the following saving methods is most effective when it comes to saving more money?
a. Savings = Income – Expenses
b. Income = n% of Savings + n% of Expenses
c. I have my own effective saving method (which I would like to share with you).
PLEASE PUT YOU ANSWER IN THE COMMENTS SECTION BELOW.
But, how do you really become a millionaire with earning and saving money for Pag-IBIG MP2?
Becoming a millionaire with Pag-IBIG MP2 is a numbers game. REMEMBER, volume is key. The more you save and invest, the more you earn. The more you earn, the higher your chances of becoming a millionaire. The more frequent you invest, the faster you become a millionaire.
Depending on your time horizon, the numbers game is relative. But let’s say you want to become a millionaire in 5 years you need to save and invest at least P170,000/year or P15,000/month with 6% annual dividend rate.
Below is a sample computation:
There are many ways to compute your savings and dividends for Pag-IBIG MP2 depending on the following factors:
/ the amount of money you save;
/ the frequency of your savings;
/ dividend rate declared by Pag-IBIG Fund per year; and
/ whether you compound your dividends or not
KEY TAKEAWAYS: If you want to become a millionaire with Pag-IBIG MP2, you need to look for ways to earn money, set aside money (save money) and invest it in Pag-IBIG MP2. VOLUME IS THE KEY here; which means the more money you invest, the higher your rate of return.
One more thing…
Why choose Pag-IBIG MP2 over any investments?
Here are 10 reasons why you should invest in Pag-IBIG MP2:
BECAUSE , you can invest for as low as P500 per month in Pag-IBIG MP2;
BECAUSE, It’s very easy and convenient to open a savings account and remit savings in Pag-IBIG MP2;
BECAUSE, There is no limit as to the amount of money which you can invest in Pag-IBIG MP2. Remember, volume is the key to earning more money;
BECAUSE, You can use Pag-IBIG MP2 to accumulate long term wealth like retirement, education of your children, family savings for future plans, etc.;
BECAUSE, You can view your savings and dividends online via the Virtual Pag-IBIG which is available via the Virtual Pag-IBIG portal and Virtual Pag-IBIG apps (Android or IOS);
BECAUSE, OFWs can invest in Pag-IBIG MP2. As of 2021, around 78,000 OFWs are already investing in Pag-IBIG MP2;
BECAUSE, Pag-IBIG MP2 is a very safe investment because it’s guaranteed by the Philippine government;
BECAUSE, The dividend income earned from Pag-IBIG MP2 is tax-free; and
BECAUSE, You can earn more money because of the dividends I received from Pag-IBIG MP2.
[L]Earn more of these benefits in this article below: