Millionaire before the age of 15!

Millionaire before the age of 15 is my ultimate goal for my daughter who is already 5 years old now. Inspired by @Eirolfeam2 goal before the age of 21, I also wish my daughter to be a millionaire before she could even reach college.

I think all parents wish their kids to have a better life, a life that has financial freedom and could go whatever school or take any course that they desire without worrying where to get their tuition fees. Which at our time, our parents were not capable of providing us because life was really a struggle back then plus we are 7 kids with just 2-3 years age gap.

And so when I have a kid on my own,my ultimate goal is to provide everything that she wants especially financial freedom but still instilling in her the value of education, of being practical, for being generous and the importance of investing too. In doing so, here are my ways in achieving Millionaire before the age of 15:

1. Variable Universal Life insurance

I already got her a life insurance in Sunlife (Sun Maxilink Prime) last year before her 5th birthday. My brother initiated it since he is a Financial Advisor and he convinced me that I should get her at an early age because the multiplier is higher. Their fund value is much higher compared to a 20, 30 or 40 years old and the risk are still lower. The assured value after 10 years is Php750k. I pay Php3,750 every quarter which is still manageable. With this insurance, she could already enjoy the value of her fund if she needs it.

So that made my computation easier and I only need to save Php250k more.

2. Gifts

I have saved everything that was given to her since birth and before reaching the age of 1, I already opened a junior savings account for her. She already have 75k in her bank. And we are planning to close it at 80k before the year ends.

3. Others

After 1st and 2nd ways of achieving the main goal, and what is left is Php170k more. So the simple math I made was Php170k/3,650 days (365 days in a year x 10 years) or 47 pesos a day! Wow, so I can actually make my daughter a millionaire before the age of 15!

I do not wish myself to becoming a millionaire already because the bills are regularly coming and expenses are not inevitable. So I will just pass that to my daughter. I hope and I will do my very best to get that for her.

With our willingness to achieve all these and with prayers and help from our Lord Almighty everything is possible and achievable.

...^•°...

Thanks for reading and God bless us all.

Keep inspiring. Keep smiling.

XOXO,

bbghitte

Lead image from Unsplash!