A group has urged those who have money to invest their money, including buying stocks, instead of making deposits in banks where the interests are not high.“When you buy shares of the bank, your money will increase along with the growth of the company, whereas if you are only a depositor, your money will always remain the same (in) amount,” Russel Ledesma, member of Truly Rich Club, said on Wednesday.
According to Ledesma, the stock market is “primarily wealth preservation” to “beat the inflation” as he lamented that only one percent of the entire population of the country.
“The money in the stock market mostly comes from foreign investors so when the time comes that they will stop investing, it will affect the entire stock market. That is why we encourage more Filipinos to invest so we would not depend on foreign investors so we could all benefit in the growth of our own economy,” Ledesma said.
Parents are also advised to engage their children in stock market investment while they’re still young because, said TRC member Edna Villegas-Cheng, it is more practical to start at a young age so that they can already reap what they sow before they get older.
TRC will conduct a “Trailblazing Seminar” to guide interested individuals on specific steps in business, stocks and virtual careers this coming March 16, 2019 at The Pinnacle Hotel, Davao City. The event promised to offer “beyond just motivational talks.”