As your career and other endeavors level up each year, also consider doing the same to your investments and other goals. Whether it's to prepare for your retirement, purchase a big-ticket item, maintain your health, or—if you have children—save up for their education, investing for the future can help you achieve these goals. While you may already have savings in the bank and have explored time deposits and investing in stocks, bonds, and mutual bonds, the following can further open you up to new and exciting opportunities:
- Real estate
Property remains one of the most stable forms of investment. As such, real estate is worth considering if you're looking to grow your portfolio. This is ideal if you have discretionary income outside your retirement savings that you would like to invest in the long term.
You can take one of several approaches when investing in real estate. First is the long-term approach where you buy a property and hold on to it until its value appreciates. You also have the option of renting it out. This is ideal if you want to earn a regular income. Then there's flipping a property, which you might have already seen in reality shows. This is where you buy and renovate a property to increase its value and then sell it for profit.
Whatever approach you take, the property's location will be key. If you want to sell it later on, for example, it may be worth looking into a property near new or future developments, such as those on the outskirts of metropolises to give your property more growth potential. If you're renting it out, target central business districts or areas near universities, offices, and hospitals.
It's also important that you do your research and consult with a financial advisor who can help you create an investment strategy before diving into real estate. Aside from that, consider getting property insurance in the Philippines to protect it from unforeseen events like fires, earthquakes, and floods. - Health insurance
Investing isn't just about buying property, stocks, and the like. It's also a good idea to invest in your health. After all, you'll be able to enjoy all the things you work hard for and spend more time with the people you love if you make your health a priority. This is where getting health insurance in the Philippines comes in.
Your medical expenses can add up quickly if you get hospitalized. Having comprehensive health insurance will allow you to cover these expenses and avoid dipping into your savings, which could impact your family's finances. What's more, you can choose your health plan according to your needs. Health insurance coverage includes not just critical illnesses, but also lifestyle diseases like diabetes. You can explore AXA's health insurance plans if you wish to discover other health protection options. - Global investments
If you're already investing in stocks and bonds in the Philippines, you might also want to consider investing globally. As the name would suggest, this is where you invest in stock and bond markets in countries other than your own. This can help diversify your portfolio, increase its growth potential, and limit your risk exposure.
Investing globally is easier than ever with the help of insurance companies like AXA Philippines. Our insurance and investment plans such as AXA Asset Master and MyLifeChoice allow you to have insurance coverage and global investments via its Peso-Denominated Dollar Funds. It means you only need one plan to invest in foreign markets with local currency and get life insurance protection through our Variable Unit Linked products.
Our Peso-Denominated Dollar Funds include Global Dynamic Allocation Funds (GDAF) Peso and Global Advantage Fund (GAF) Peso. GDAF invests in different markets in Asia, the United States, and Europe, while GAF is more focused on technology companies like Apple, Microsoft, and Facebook's parent company Meta.
As with other forms of investing, it's always essential to speak with a financial advisor who can help assess your risk appetite. Doing so will give you the confidence to make well-informed decisions, and improve your chances of success.
Know you can game plan your future today with long-term investments. Find out how by talking to an AXA financial advisor.
