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Money Tips From Successful Pinays In Their 40s and 50s

It's never too early to start thinking about retirement.
PHOTO: Chris Clinton

When it comes to spending and saving up, we all need a little extra help. Aminin!

That’s why we interviewed successful women in their 40s and 50s to find out which money tip they wish they knew about in their 20s.

Save! Start early and make it a habit to set something aside for a rainy day no matter how little. As you move forward with your career, knowing that you have savings would give you more confidence in considering options that would otherwise be unthinkable. For example, if you are considering moving from your current job to another, knowing that you have a rainy day reserve would allow you to seriously consider more choices.  Without a reserve, one would be more likely to stay in an unpleasant job, rather than risk moving to what could be a more rewarding job. And if you are lucky enough to go through your professional life without having to dip into your reserves, then you would have that much more with which to enjoy retirement. –Johay, 40something

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It's never too early to think about making an investment in property. For many, the first big purchase they consider is a car—which is all well and good when enhanced mobility is a necessity. Buying property is usually put off until marriage or 'when I save more.' But if you buy smartly, even a small property has the potential to reap significant capital gains. Those gains allow for more personal financial flexibility and can even be reinvested. –Denise, 40something

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I wish I started putting away money towards my retirement, even if [it was just a] small amount to start with. It reduces your gross taxable income, which can turn into a huge amount of savings. –Beng, 50something

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I wish I knew about investing when I was younger. During my time, we were told to just "save it in the bank" but now we all know that the bank really doesn't give much return in terms of interest. I also [didn’t learn about the] 70-20-10 deal until much later in life. Use the 70, save the 20, and give the 10 to God. –Amanda, 50something

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