Thanks in part to the internet and technology, the government, and private institutions, the Philippines has been consistently recognized as one of the most financially inclusive countries globally. In a nutshell, what this means is that there are efforts continuously being poured into the encouragement of unbanked citizens to participate in different financial systems, and those who are looking to invest are finding that they have the choices to decide on what they want to do with their assets.
Recent reports also show that the age of those who are showing interest in investments have lowered and that millennials are more willing to explore this territory as a means of wealth creation. According to the Philippine Stock Exchange, investors aged 18 to 29 made up 21.5% of the total stock market account holders in 2018, rising from just 16.2% in 2017.
Diversifying with Dollar-Denominated Funds
There are plenty of investments that Filipinos can tap into, such as starting a small business, looking at real estate, buying cryptocurrency, engaging in forex trading, and more. It’s truly an exciting time to begin your financial journey with the many options out there.
That being said, there’s still a whole world of financial management options to consider outside of the stock market, digital assets, and insurance, and mutual funds. When it comes to money, the general rule of thumb is to spread your resources and try different options that best suit your needs and minimize risk. Putting all your eggs in one basket can have a negative effect on your earnings.
Dollar-denominated funds are a great way to diversify your financial portfolio and tap into the global economy. After all, the Philippine Stock Exchange market represents only 1% of the worldwide market—and expanding is a neat opportunity to level up and learn more about financial opportunities waiting for you. This is the natural next step to take after joining the local market.