Dreams & Deadlines, Part 1

By Randell Tiongson on November 30th, 2009

Sometime ago, I had lunch with a mentor of mine, Rex Mendoza (of the giant real-estate conglomerate Ayala Land). Rex was one of my mentors in financial planning; there are many things I learned from him that pretty much influenced my career as a personal-finance coach and educator.

Financial planners are not known for extravagance and flamboyance—in fact, people have always looked at us as misers. Financial planners are very prudent people; they are not the kind that will spend money on a whim and will really take a lot of time trying to ascertain needs from wants.

My friend Rex was very much a financial planner in all sense, highly knowledgeable in the aspect of personal finance and one who really practices what he preaches. However, the Rex I was having lunch with seemed to be a different person, a changed man singing a different tune. What happened to my old mentor? Has he gone to the dark side? I was trying to figure out who I was having lunch with. Years ago, this was the guy who was telling me that every peso counts, that Starbucks coffee was evil (because of the cost) and that investing was the only activity we should engage in…get the drift? The “new” guy I was having lunch with was talking about expensive LED lighting, koi pond and exquisite veneers for his house renovation, playing golf every weekend, traveling all over…and I almost choked on what I was eating when he mentioned driving a Porsche. That’s it, I am certain that my old mentor and friend has been possessed, cloned or just plain, well, lost his marbles. I was just about to gag this guy to ask him what he did with my friend when he uttered something that pretty much left me speechless for a few moments: “Randell, after all these years, I finally realized that ‘dreams have deadlines.’” Er, what—say that again?

My lunch encounter with a former mentor got me into thinking, and the words “dreams have deadlines” seemed to me like experiencing LSS (last-song syndrome). Financial planners have been preaching about living a life of extremes while the real world has a totally different view with regard to the use of money. Filipinos and financial stability are two words you don’t normally see in one sentence. Just look around you—how many of your acquaintances do you know need a spanking with the way they handle their finances? Our country remains to have the lowest savings rate even in Asia, yet we see a steady increase in consumer debt among our population—a definite recipe for disaster. The solution: financial literacy. If our brothers and sisters become financially literate and have a better mindset with regard to the way they use their money, we would definitely see a lot more happier people. The solution is simple—or is it?

… catch part 2!

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7 thoughts on “Dreams & Deadlines, Part 1”

  • When I read about “Starbucks is evil”, I quickly recalled David Bach’s book which spoke at length about something that describes that. That short sentence can be considered synonymous with “Latte factor”.

  • The bible says to “avoid all extremes, to hold on to one & not let go of the other.” Although no one would argue with frugality & faith as necessity to prosperity, we also cannot ignore the wisdom of solomon “to ehjoy life is a gift from God.” As the wise king said in Eccleciastes, “there is a time for everything under the sun, a time to live, a time to die, a time to laugh, a time to cry…” a time to drive a porsche & a time to take a jeep. AS long as it does not break the bank 🙂

  • Attended Ayala Land’s Mr. Rex Mendoza’s Wealth Management Seminar at the Hilton Guam last night and did he hold his audience captive! Absolutely! I learned so much from listening to him. He’s dynamic, charismatic, intelligent, and funny.

  • Hearing the name REX MENDOZA? for me, really seems familiar…but i can’t actually
    remember…but seeing and hearing him personally at WEALTH MANAGMENT SEMINAR held here in MILAN, last Sunday…no more doubts…he really is…the
    successful businessman is the grandson of the late LOLA MONAY MENDOZA
    of Batangas City. “He is an excellent speaker, simple and direct, but has striken
    profoundly the heart of the mass audience…one thing very important… he has a
    great sense of humour. I’m sure those who didn’t grabbed the oppurtunity to
    hear him, have really lost 1/2 of their lives…he created a great impact to everyone’s
    heart and mind, enough to make us understood that success is neither gift nor fortune..but success can be attained thru hard work, sincere and honest objectives!!!

  • Very nice read!

    ..just this month i was able to attend a company meeting with Pres. Rex Mendoza as the distinguished guest speaker and i can really say i was moved, hit, awestruck and impressed with his speech/talk.. I went home inspired and motivated!

    Every phrase he said struck a chord and taught me a lot of things i thought i knew before.. Very lively and humorous guy! Really made me rethink my plans for the future..

    I just have to be successful in my own ways just as he is..

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Dreams & Deadlines, Part 1