OFW’s, Are You Ready To Come Home? How Long Can You Survive?
My fellow OFW’s out there, are you confident enough with your savings? or do you have any? What if?, all of a sudden your Boss told you “your’e fired” or your company are closing down or for any other reasons that you loose your job. Whatttt???? These are common questions that always bothered your mind as an OFW. There are lot’s of stories of OFW suffered because of lack of knowledge in investment when they come home. Most find themselves starting small business to settle down, some start savings account to earn interest but you think these are enough? There are other ways to grow your hard-earned money while working abroad, such as stock investing.
Working overseas isn’t forever, we have to learn what we need to learn to grow our hard earn money while in abroad because you’ll never know what’s gonna happen in the future.
Some tips to grow your Money while working abroad:
Some people find the idea of stock market investment are very daunting. Most common reaction is: whooaahhh wait wait!!! “Don’t you have to study the stock market to get anything done?” I will surely tell you “NO IT’s NOT” without a doubt. You don’t need to be expert to start your investment in Philippine Stock market. Here’s the reality – did you know that you can buy 10 shares of Jollibee or 100 shares of SM for less than P3,000? If you invested that a couple of years ago it would grown up double. But I would suggest that you aim for a long term investment. Click here for tutorial.
Investment in stocks are somewhat risky, but if the goal of your investment is for your retirement and education fund then sure enough your money will grow drastically in long term. Let’s just imagine the example given above, if you buy share in Jollibee, SM, BDO, AYALA, well of course your investment will grow because they are GIANT companies and will still be there for the next 20 to 30 years.
Most OFW’s recognize only saving’s account as their means of investment. Yes! it’s very common that if you have money put it in the bank (savings account / Time deposit) , but!!! here’s the fact, in a long term they do not give the maximum return of interest a “BIG WHY?” because of the fact that interest rate cannot beat the inflation rate… whattt??? Average annual interest of the bank which is 2% – 4% while inflation rate is about 4% to 6%. But the good thing is, you can always use bank to save for your emergency fund, personal / family expenses, bills and etc., but not a means of investment.
OFW’s, You think you can save at least 20% of your income and put it on a monthly basis on stock investing? Are you disciplined enough? Set aside money first for your remittance, investment emergency fund. Here’s the thing, “Do not buy what you want, instead buy the things that you need”. Don’t be deceit by a lot expensive gadget just to impress other’s, too many “pasalubong” when in vacation, yes you have the luxury to buy those things but the luxury of time is that you cannot predict. “Bahala na si God” attitude we’ve always said, how about “God ako na po ang bahala” and think all the possible way how to grow your hard earned money, give more value on it, and by the time you come home you are confident enough… “Yes I can survive and I’m financially free”.
Learn how to Invest and say "YES" to this once in a lifetime opportunity NOW!