Why I Chose to Open a Sun Life Money Market Fund for Php500
Last week, I saw a post from a friend and former classmate of mine who works as a Sun Life financial advisor. She said that you can open a Money Market Fund (mutual fund) at Sun Life for just Php 500 during this month of September. I got curious because I’ve been hearing and reading about mutual funds lately and it seems that this investment is good. Sun Life is a reputable insurance company so I think whatever I put here will be in good hands.
I met up with my former classmate as the week was winding down. I told her I’m interested to get that Php500-kinda promo for their mutual fund. But first, she explained to me what mutual funds and the money market is.
If I remember correctly (and I hope I do), a mutual fund is a kind of investment that’s made from a pool of funds from different investors. These are managed by financial managers or advisors, who would invest them in stocks, bonds, and other assets. Money market is one of these assets, and I think one of the most conservative. Meaning, in money market, there is low risk but also low interest. You don’t lose big, although you don’t gain very big. But your money grows.
One needs at least Php 5,000 to open a mutual fund, as this is the equivalent of one stock. But Sun Life has a special offer in which all you need is Php 500 to open it (only until September 29, though!).
I figured, why not open one, while the fee is just Php 500? This is a form of investment and at my age, having multiple investments is ideal. I already have a VUL (although not with Sun Life) that works as an insurance + investment. With the money market fund, I’d have another fallback.
My friend says that if I can, I could top up my initial fund (starting at Php 1,000). If I have enough funds, she can diversify my portfolio to maximize gains. Hmm, looks like I need more raket so I can top up my fund. 🙂 Hopefully, something comes my way.
You know, there’s a lot that I can do with Php 500. Opening a Sun Life money market fund is one of the best things I’ve done with it. I know it will take years to make it grow. But hey, if I don’t start now, it might be too late for me.
If you want to talk to a Sun Life financial advisor, I can connect you to my friend Sheila. She’ll be more than happy to share financial knowledge and ways to have a brighter life. 🙂 Leave me a message in the comments if you’re looking for a Sun Life advisor.