Investment Gifts You Should Give Yourself

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The holidays are often when you allow yourself to splurge as a reward for all your hard work the last year. You buy expensive gadgets, feast at high-end restaurants, and justify your purchase of designer goods. While there’s nothing wrong with treating yourself, it’s important to consider what gifts your future self might benefit from, too, especially if you don’t have much to your name yet. 

Below are some investment gifts you should give yourself this 2020. 

A life insurance policy
A lot of preparing for the future is preparing for the unknown, but while that seems like an impossible task, there are several ways to make sure that you and your loved ones will at least have options. Life insurance is one example. In the event of an accident or worse, life insurance (as long as it hasn’t lapsed) will give your beneficiaries a lump sum amount that you agreed on when you signed up, whether you’ve just started paying or you’ve been paying for 10 years.

A health plan
A doctor’s appointment at a private institution can cost you P500 or more—imagine how much more an overnight stay at a hospital would be. Of course, you might think that that’s a problem for the future—and maybe it is—but do you really want to be scrambling for cash in the middle of a medical crisis? We didn’t think so. Give yourself an investment gift of a health plan. Depending on the health plan you choose, you can get unlimited out-patient consultations, specific lab test inclusions, and even hospitalization benefits. 

A retirement fund
The age of retirement in the Philippines is 65, and while that might be decades away from now, you might want to start building your way up to a sizable amount while you still can. If you’re very conservative, you can choose to open a time deposit account at a bank and build your retirement fund by putting money in consistently. However, you can also choose to invest your money in different investments with better returns. You don’t need to jump right into buying and selling stocks. You can choose to invest in mutual funds or government bonds first. 

Real estate
Another investment gift you might want to consider is a house and lot or a condo unit, but don’t make this decision lightly. Buying a property requires a considerably more significant commitment than any of the items mentioned above. However, if you manage to complete your payment, you’ll have an asset to your name. You can rent it out as a way to get your investment back or as a source of income when you’re older, but you can just as well live in it and pass it on to your heirs in the future.

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