According to Mr. Rex Mendoza, President and CEO of Sun Life, there are three stages of life which a man should go through. Unfortunately, a lot of Filipinos never get past stage one. So what are these three stages of life?
Stage 1 – Man at Work - this is the stage where majority of people start off. After graduation, we all look for a job and start earning money. Day in and day out, we go to work and receive our salaries. We then go enjoy, go eat out, buy clothes, shoes, go on vacation, and so on. So even before we receive our next paycheck, our money supply would already have been almost depleted. This cycle repeats itself.
Stage 2 – Man and Money at Work - this is the stage at which a more financially literate person would have moved up to the second stage and invested part of his earnings which will multiply his money as he still receives his monthly paycheck. This stage is called investing for the future.
Stage 3 – Money at Work – this is the stage at which most taipans are in. Man need not be physically hard at work but his money is working hard to multiply itself in the form of business or investments.
Unfortunately, a lot of our Filipino brothers get stuck in stage one with no hope of moving up. They are contented with what they have and they only live in the present. As their earnings grow, their expenses grow proportionately.
So let me ask you. At what stage are you in now? When will you move up?