Three Things 2017 Taught Us – and How to Make Them Work for You in 2018

The Big Picture: Current events and the economy have always gone together. That relationship just seems more amplified in recent years, seemingly reaching a high point in 2017. There were specific events, such as the continuing Brexit negotiations and the political climate of countries, which gave 2017 a cautionary air, as investors and businesses took a wait-and-see attitude.

In Personal Finance: When it comes to personal finances, global uncertainty can be offset by going for historically stable investments. Blue chip industries like healthcare tend to maintain their values. Another way to hedge risks when it comes to personal investments is to go with companies that have proven reputations.

The Big Picture: In his book The Innovator’s Dilemma, Andy Rachleff refers to Disruption as “a disruptive product addresses a market that previously couldn’t be served” or “it offers a simpler, cheaper or more convenient alternative to an existing product.”

In 2017, there were many companies that claimed to be the disruptive force in their industry. For example cryptocurrency Bitcoin used the blockchain technology to increase in value up to 20 times in 2017. Elon Musk’s SpaceX program was also successful in developing reusable space technology.

In Personal Finance: It is easy to get swept away by catchy headlines and write-ups about companies. But, investments should promise more than just innovation. For every successful story, there is a cautionary tale. Take for example, Theranos, which marketed itself as a disruptive force in the medical field. In the end, the technology simply didn’t work the way the company claimed it would and Theranos folded. Avoid making bad financial decisions by making an informed choice instead on focusing on buzzy catchphrases.

The Big Picture:There are jobs that are legitimate and lucrative that simply did not exist before. For example, there is a way to monetize large social media followings and the title “influencer” is now largely accepted. A prime example of this is Ryan ToysReview, which earned a six-year-old boy $11 million a year in YouTube.

Another way that the job economy has changed is that geography is no longer a barrier. More companies are embracing the concept of remote work. The implication of this that there are more ways to gain income – in addition to, or outside – the typical office scenario.

In Personal Finance: Anytime there is an opportunity to increase and diversify sources of income, there is a chance to invest. Investing is a good way of using income that is earned because it secures the future, in addition to providing a comfortable life in the present.

A lot of the trends that swept through 2017 is poised to continue in 2018. To make this year a year of sound financial decisions, focus on what matters: providing a good life for family. A good option that addresses this is the Build Estate Plus by BPI AIA.

It is a unit-linked protection plan that covers estate taxes, provides life insurance including additional options for disability and illnesses, and provides access to the BPI AIA health and wellness program. Any choice made to improve health leads to an additional 20% life coverage and supplementary benefits as well as rewards from partner establishments.

There is no sure method to predict what each year would bring, but with Build Estate Plus, there is a way to keep yourself healthy and protect the legacy that you are making.

To know more, check out the BPI AIA Wellness Series or head to a BPI branch near you and talk to a Bancassurance Sales Executive.