Philippine Economy Talk

[Mask Rider Blac]

Ganyan mag-isip ang mga tamad
Mayaman --> masama/illegal
Hindi nila magets mayaman/umasenso --> masipag

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[_Cathy_]

I don't know but I've NEVER seen anyone born well off that was able to overtake the wealth of their parents. I mean those that live in mid 9 digit homes in villages in MM. Usually the children would also live in nice villages but not in the same village as their parents. Mostly nga sa generation ko sa condo na lang nakatira.

Pre internet/social media money it is REALLY HARD to move from middle class to rich pero ngayon hindi na ko magtataka.

But I still think a lot of those rags or middle class to riches na hindi galing showbiz or politics, majority hindi malinis. Example yung kilala ko, they used to be middle class but I don't know which admin they won a govt contract for an object, hindi ko na lang sasabihin, but it's as menial as a ballpen. I know they have at least 3 houses in a village in Makati and super cars in their garage! They made their money over 2 decades ago and apparently the coffer is still full! Yes, businessman yung tatay pero hindi totally malinis how they made money

I think minority yung sheer hard work and clean money like how Pacquiao made his money in sports or actors that became A list. So ang sagot ko as number 1 would be those that live in those villages are born into it.

[viper888]

I don't know but I've NEVER seen anyone born well off that was able to overtake the wealth of their parents. I mean those that live in mid 9 digit homes in villages in MM. Usually the children would also live in nice villages but not in the same village as their parents. Mostly nga sa generation ko sa condo na lang nakatira.

Pre internet/social media money it is REALLY HARD to move from middle class to rich pero ngayon hindi na ko magtataka.

But I still think a lot of those rags or middle class to riches na hindi galing showbiz or politics, majority hindi malinis. Example yung kilala ko, they used to be middle class but I don't know which admin they won a govt contract for an object, hindi ko na lang sasabihin, but it's as menial as a ballpen. I know they have at least 3 houses in a village in Makati and super cars in their garage! They made their money over 2 decades ago and apparently the coffer is still full! Yes, businessman yung tatay pero hindi totally malinis how they made money

I think minority yung sheer hard work and clean money like how Pacquiao made his money in sports or actors that became A list. So ang sagot ko as number 1 would be those that live in those villages are born into it.

Only happens if the child does very well abroad. Reasonably wealthy parents pay for schooling including a masters degree abroad. Child becomes a Finance Bro in NY/London/Singapore/HK and rakes in a fairly large salary. Friend's older brother is roughly an example of this. He grew up in nice village in QC (low nine digits) and he is now in NY as a fund manager. The parent's net worth is probably higher but that is from properties.

Parents would usually sell their house and buy 2 or 3 houses in a cheaper village for their kids. Some sell a house in AAV for three houses in Westgrove or someone in Ayala Heights would sell a house for three houses in Tivoli/Capitol Hills/LGV

[_Cathy_]

Parents would usually sell their house and buy 2 or 3 houses in a cheaper village for their kids. Some sell a house in AAV for three houses in Westgrove or someone in Ayala Heights would sell a house for three houses in Tivoli/Capitol Hills/LGV

But the parent's net worth is still higher pa rin :P

I know someone similar! He's from AAV and his parents (or Lola?) gave him a property in Nuvali. He's from Southridge din

[Ry_Tower]

Tsismis and inggit


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Agree. Morw of the latter actually hehehe.

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[dr. d]

I don't know but I've NEVER seen anyone born well off that was able to overtake the wealth of their parents.

in a huge family corporation,
it's hard to determine who owns what, who was responsible for this-and-that success/fiasco, etc.

but in fairness,
while the pay-rents have been at it for decades, the children... probably less than half that time.

besides,
if the children attempt to strike it out on their own, who'll be their competitor, their parents? gosh if i can honestly aggressively compete against my parents.

also,
like in baseball records vis a vis baseball parks of olde,
"the atmosphere has changed".

[ale828]

I don't know but I've NEVER seen anyone born well off that was able to overtake the wealth of their parents. I mean those that live in mid 9 digit homes in villages in MM. Usually the children would also live in nice villages but not in the same village as their parents. Mostly nga sa generation ko sa condo na lang nakatira.

But I still think a lot of those rags or middle class to riches na hindi galing showbiz or politics, majority hindi malinis. Example yung kilala ko, they used to be middle class but I don't know which admin they won a govt contract for an object, hindi ko na lang sasabihin, but it's as menial as a ballpen. I know they have at least 3 houses in a village in Makati and super cars in their garage! They made their money over 2 decades ago and apparently the coffer is still full! Yes, businessman yung tatay pero hindi totally malinis how they made money

I think minority yung sheer hard work and clean money like how Pacquiao made his money in sports or actors that became A list. So ang sagot ko as number 1 would be those that live in those villages are born into it.

i know a select few who surpassed their parents. Parents who are Multi millionaires with large houses in old New Manila and now one of the children are in the BBC (Billionaire Boys Club ha). With those who achieved it, the prevailing theme for them is Connections, Connections, Connections. Which seem to be more important than hard word and tiyaga.

One thing i learned is that dealing with the gov't is always dirty or comes with some dirt. Even those big companies and multinationals companies have to deal with them. Its just they turn a little blind eye to some of the dirt and just sweep it under the rug. Even those actors/actresses now who are relatively rich and command high salaries probably had some skeletons in their closet during their early days to find their way up the ladder. Unless of course the actor was born rich already and didn't need the money.

[uls]

i know a select few who surpassed their parents. Parents who are Multi millionaires with large houses in old New Manila and now one of the children are in the BBC (Billionaire Boys Club ha). With those who achieved it, the prevailing theme for them is Connections, Connections, Connections. Which seem to be more important than hard word and tiyaga.

One thing i learned is that dealing with the gov't is always dirty or comes with some dirt. Even those big companies and multinationals companies have to deal with them. Its just they turn a little blind eye to some of the dirt and just sweep it under the rug. Even those actors/actresses now who are relatively rich and command high salaries probably had some skeletons in their closet during their early days to find their way up the ladder. Unless of course the actor was born rich already and didn't need the money.

yep

it's part of doing business in PH

kung ang gobyerno meron "intelligence fund"

companies have "other business expenses"

[Deestone]

'Hold onto your money': Jeff Bezos just issued a financial warning, says you might want to rethink buying a 'new automobile, refrigerator, or whatever' — 3 better recession-proof buys

Be prepared for the rainy days.....

[Yatta]