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December 16, 2019 is the date when I declare myself as a "young investor" kuno because finally, I have completed the steps in order for me to invest in a Mutual Fund with FAMI-SALEF (Save and Learn Equity Fund). It was one of the biggest decisions I have ever made as an 18-year old student, 2 years ago. Before I came up with that decision, I researched intensely for a couple of weeks. There were times when I was still widely awake at 2 am just to read blogs and videos for my first venture in investment. In fact, I haven't told anyone yet that I'm investing in a Mutual Fund. I have mentioned to my Mama before about my plan, but I haven't told her that I have officially joined already. Hehe.
There are various investment companies in the Philippines— like COL Financial, Philam Life, Sun Life Financial, etc. which may be better in some aspects rather than FAMI. But in the end, I selected FAMI because I have read several reviews from the people who invest with them. And the fact that FAMI is under Metrobank Group is proof that the company is trustworthy and performs well. I was around 14 years old when I joined Metrobank Fun Savers Club (I mentioned it in my recent article: Open a Bank Account for your Kids), and up until now I still have an account under Metrobank. In the long run of being with them, I can say that they are trustworthy and they provide good service to their clients and do well in their field.
After long hours of research, I found that a mutual fund was convenient and suitable for me when I was 18 since I considered myself then a newbie in money investment. Stock market, trading, crypto, and real estate... sounds terrifying to me back then. I somehow want to play safe and grow my money at the same time as early as possible.
Wait for the FAMI email or SMS for the online interview.
Based on my experience regarding the Interview Schedule that I selected in the Data Sheet, it wasn't followed. The date of the online interview depends on you and the interviewer's availability.
Get ready for the online interview by preparing a clean sheet of paper and pen for your signatures, your valid ID for verification, and the details of your bank account for settlement. The online interview will be done via Messenger or other video call apps.
The one who interviewed me was very responsive, friendly, advised me of what should I do next, and lent some suggestions.
Deposit your initial investment minimum of PHP 5,000 through any payment methods that you want. It can be done over the counter at any banks (Metrobank, PS Bank, BPI, Union Bank, and BDO), or thru Metrobankdirect. For more details about payment methods, visit here.
What I did was to deposit over the counter at Metrobank thru Payment Slip.
Wait patiently again for the FAMI email or SMS for the final procedure in creating your FAMI Portal account.
Make your own FAMI Portal account and remember, don't forget your Customer ID and password.
Voila, it's done with only simple 5 steps! I hope that this post is helpful for those who are interested in investing in a mutual fund. There are also many other option and different types of mutual funds that you can choose from.
Just never forget to always research everything first before venturing into any investments.
Do you invest in Mutual Funds as well? Share your thoughts by sending a comment down below. It can be helpful for others.
I can also discuss how I opened a Pag-ibig MP2 account as a student. Let me know if you're interested!