Be a Millionaire in 5 years with the Modified Pag-Ibig 2 (MP2) Savings
Who wants to be a Millionaire? You can do it in 5 Years thru the Modified Pag-Ibig 2 (MP2) Savings, I looked into MP2 because of Mr. Donato Galila, MP2 it seems is the choice of investment vehicle of our public school teachers.
An opportunity most often overlooked is the Modified Pag-Ibig 2 (MP2) Savings that gives every Pag-Ibig member a chance to earn dividends from the operation Pag-Ibig Funds Annual Net Income.
The current dividend yield (earning) is 7% per annum, you can apply for an MP2 if you are an active Pag-IBIG Fund Members; and/or Former Pag-IBIG Fund Members with other sources of monthly income and/or Pensioners, regardless of age, with at least 24 monthly savings prior to retirement.
For as low as Php 500 pesos per month, you can make an investment for five (5) years and received a dividend payout in two ways; 1. Upon full withdrawal of your MP2 Savings after its 5-year maturity period with your MP2 Dividends compounded annually; or 2. Through annual pay-out with your MP2 Dividends credited to your savings or checking account enrolled in any of Pag-IBIG Fund accredited banks, such as the Land Bank of the Philippines (LBP), Development Bank of the Philippines (DBP), or other banks that the Pag-IBIG Fund may accredit in the future. For members who opt for annual dividend payout but have no Philippine bank account, especially in the case of overseas members, MP2 Dividends shall be released to them in the form of checks.
Php 500 per month compounded savings
Php 500 per month with annual dividend payout
So how much do you have to invest per month in MP2 to be a Millionaire in Five (5) years
Using a 7% per annum dividend payout you will be needing a Php 14,000.00 monthly savings in a compounded savings to be a millionaire in 5 years. (sample computation below)
What to do with a Million, you can open a one-time investment of One Million in MP2 and get an annual payout of Php 75,000.00 per year.
So for those who will get a large windfall like an inheritance or winning the lottery, why venture into a risky investment when you can save in a low-risk one. Imagine if you have a one time savings of 10 Million in MP2, you get an annual dividend payout of Php 750,000.00 or Php 62,500.00 or about 4 times the current minimum wage. With that kind of passive income, working would be optional. For more info you can visit https://www.pagibigfund.gov.ph/Membership_ModifiedPagIBIG2.html
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