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Is it really more fun to be rich?

10 August 2017

By Francisco J. Colayco

We have to admit that when you have a lot of money you can buy the more expensive cars, houses, clothes etc.  You can also travel more to see a lot of places in the country and the rest of the world.  You can also have more chances of meeting interesting people.  You can eat out more often and go to amusement places to have fun.  You also feel great because you are more secure.

But will the money of the rich last forever?  It may,  but again, it may not.  It all depends on how they manage it.

Guess what…the richer you are, the more difficult time you may have managing your money.  Sure, you could have advisors from all over to help you but conflicting considerations are not easy to resolve, particularly because wrong decisions could result in heavy losses.  The most difficult responsibility of making the final decision is always yours.  The rich who are able to maintain or grow their riches do a lot of studying and reading to accomplish that. They focus on managing risks more than planning to achieve their expected profits. The amounts they invest are substantial and while their profit potential can be big, they also carry substantial and widespread risks.

This is the sad part for those who win big in lotteries.  Most do not have personal financial education so their winnings are quickly lost.

The rich who are enlightened also spend carefully.  Those who wantonly throw away their money eventually end up in the poor house.  Worse, they give  very bad examples to their children who will most likely end up like them.  If they do not experience being poor in their lifetime, there are real possibilities that their children or grandchildren will.

The enlightened rich also know how to share their wealth.  As stated in the Bible, “To whom much is given, much is expected.”   And those who share receive so much more in return.

What do all these tell you?  That it is good to admire the rich who make their money grow so they can share some of it. You should want to follow their good example.

As long as you have a job and you can put aside regular savings, you will be able to follow the path of the rich.  I keep repeating that you can be rich but of course the meaning of rich is different for each person. Whatever your definition is, you first have to learn how to save and make your savings grow. Your real opportunity is to start saving and investing now. Time is of the essence!  Time is your biggest ally in growing your wealth.  Investing regularly over time will compound your savings.  Consider this example of how starting with a small amount can make a real difference in your life: Saving Php10 a day or Php300 a month invested at an average annual rate of 12% for 20 years will grow to PhP273,400, or almost 4 times more than the total amount of PhP72,000 you will have saved over 20 years.  Saving three times this amount, or just thirty pesos a day, will give you close to a million pesos over the same period.  Yes, an average of 12% over 20 years is still possible.


Learn more from  Note that this website will evolve into an updated one in the coming month.  Watch out for it. Francisco J. Colayco is an entrepreneur, a venture developer and financial advisor.  He is the Author of Seven Bestsellers in the Pera Palaguin Series, the latest of which is now available in bookstores:  “Wealth Reached. Money Worked. Pera Mo, Pinalago Mo!” Find his works and catch him on TV and radio.  Check out:,,, FaceBook and Instagram.
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