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SUNDAY, FEBRUARY 26, 2017 Isah V. Red, Editor
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Young Life
Bernadette Lunas, Issue Editor isahred@gmail.com.ph
WHY YOU NEED TO SAVE FOR RETIREMENT TODAY
By Bernadette Lunas
L
ET’S talk about retirement; particularly your finances once you set sail into your sunset years.
For today’s youth, thinking about saving for retirement seems unnecessary because we think we have more working years left to earn money. “Why not spend your hard-earned cash on things and experiences that you can enjoy while you’re still young and able, right?” argues a twenty-something professional. While that person, which could be us in one way or another, is right, we have also been told time and again by older folks to start investing for our future while we’re young. And they might be right. According to a recent study of an insurance company, millennials in the Asian region are at substantial risk of a cash crunch during their later years. Millennial investors, surveyed as part of the Manulife Investor Sentiment Index (MISI), revealed very mixed expectations about the quality of their financial futures. Despite optimism about their retirement—nine out of 10 said they expect to be able to maintain or improve their standard of living in retirement—nearly one third or 30 percent expect to run out of money later on in life. “Millennials may have been led to feel a sense of optimism for an improved post-retirement living standard, which is potentially misplaced,” says Michael Dommermuth, head of Wealth and Asset Management-Asia for Manulife. Today’s young generation expect challenges that will threaten their financial security later in life. Four in 10 or 38 percent are expecting to take on the responsibility of financially supporting both their parents and children at the same time. They are also concerned about the impact of health on their finances, with 39 percent expecting healthcare to become too expensive during retirement, and 43 percent foreseeing their health to deteriorate to the point where they can no longer work. In addition, majority or 71 percent of millennials anticipate working past their retirement age. “It’s sobering to see how many investors, especially young people, recognize that there are risks to their retirement. Longer lifespans and later retirement will place increasing demands on investment funds,” says Dommermuth. With these findings, he emphasizes that younger generation should plan strategically to begin accumulating wealth at an early life stage. A common rule of thumb is to accumulate around 25 times the amount you expect to spend in your first year of retirement. To ease you up in your saving, you can sett aside P1,000 monthly for retirement, by doing this you can have P480,000 sure money once you retire after working for 40 years. You can augment this by adding more to your retirement fund and investing in real estate and other investment options. Manulife officials however opine that millennials investing in emerging Asian countries will likely
Run errands or go to school looking comfortable and cool
5 RELAXED STYLES FOR ON-THE-GO GUYS
READY TO RETIRE. Having fun spending all your money on things and travels? You should probably consider saving up for your financially comfortable future that is full of worthwhile adventures.
fare better than those buying a home in maturing Asia where slowing growth and aging population can dampen real estate markets. “They owe it to themselves to consider every option available to them in order to plan more effectively for their future,” says Dommermuth. At the end of the day, the best time to save is now. As Manulife president and CEO Roy Gori puts it, “Young people today will need to start saving and investing sooner rather than later. Otherwise they face a retirement of anxiety, not adventure.”
IF YOU’RE a guy who leads a busy life and have little time to think about what to wear daily, having key wardrobe essentials— like classic clothes and quality shoes—that you can mix and match together is the way to go. Contrary to popular belief, you don’t need to look stiff and rigid as you get things done; you can still be the man on top while looking chill and relaxed.
Dapper from 9 to 5
Take it easy in the office by dressing down your usual formal attire while still looking workappropriate with polo shirt in muted color, chinos and Skechers Relaxed Fit slip-on shoes.
Stylish scholar
Be well dressed as you work on acing that test in classic pieces, like white button down, khaki pants, and Skechers Go Vulc shoes. A style statement for students with its functional and stylish silhouette, this footwear looks effortlessly cool while on the go.
Cute and comfortable
Stay comfortable in style whether you’re chilling with friends or running errands outside. Opt for polo shirts, basic jeans and Skechers Relaxed Fit or Go Vulc. Turn to E2
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Netflix and chill in relaxed outfits that you can also wear outside
BULLETIN BOARD
PUP CREATV CELEBRATES #4FECT ANNIVERSARY By John Ray Villanueva
Students celebrate the 4th anniversary of PUP's online multimedia channel PUP CreaTV
THE Polytechnic University of the Philippines’s online multimedia channel PUP CreaTV celebrated its 4th anniversary as it strived its way to “#4fection.” Founded in 2013, PUP CreaTV is the first university-based online channel in the Philippines. It aims to maintain its legacy as “Tanglaw ng Bayan,” not only to the students of the state university but also to a wider audience.
One of the founders, Communication Management Office director, Professor Kriztine Viray said the online channel started as a simple idea. “Hindi namin alam kung paano uumpisahan, [dahil] wala kaming gamit. (At first we didn’t know how to make the idea come to life because we had no equipment),” Viray said in recollection. Through the years, PUP CreaTV continues to manifest the success of a simple idea.
In keeping its promise to remain entertaining, critical and inspirational, the online channel re-launched its leading show. The Observer Flash is a news program that provides deeper contexts to news and current events happening in the university and the whole country. V-PUPian is a values-formation program that talks about the values every PUP student embodies during their stay in the university. State U, on the other hand, is a documentary program that Turn to E2