The average income per annum of a young professional in the Philippines is Php 250,000 or $5000. Given that yearly you are getting 10% salary increase, a young professional can expect Php 366,000 or $7320 annual income by 2020.
Sad reality, Php 30,000 in 2020 is not enough to feed a family. According to CNN Philippines, to live comfortably in the Philippines a family of 3 members need a household income of Php 100,000 monthly.
Millennials are actively looking for ways to increase their income potentials or to speed up their success. Here’s the truth about it.
1. Network Marketing, this industry is over promising – BIG MISTAKE! People expect to earn big in the industry without exerting Effort. It can over deliver an under-promise result but you need to be consistent in the next 2-5 years. I personally LOVE this.
2. Stock Market. OVER PROMISING and VERY RISKY! You can lose huge amount of money in an instant but you can also earn big instantly. Still this is a very good vehicle for long term growth. Your gain is proportional to the investment. IF you are lucky – Php 10,000 can grow 10%, 20% or even 200% but if you can only invest a small amount 200% of Php 10,000 is 20,000(this is rare but possible) or in 5 years. I also invest in stocks.
3. Real Estate, I did my math – If I buy a Php 5,000,000 property in 2017, can I sell this in 2020 at Php 8,000,000-10,000,000? No, mostly likely it is still newly endorsed. But long term – it can be promising as well.
4. Digital Marketing – Massive social media movement of branding, selling, sharing, value creation or even creating a sales team to talk about a product, use the product, develop a product and be paid in commission, royalty or equity – THIS IS AS PHENOMENAL.
Bottom line, it’s takes time to grow a tree so thus harvesting it’s fruit. But their are huge potentials around you today.