Investing Guide for OFWs
The Philippines have been also known to have many overseas workers. This sector has boomed throughout the years and it has greatly boosted their economy. However, not all the time these overseas workers are able to save money and alleviate their lives and of their families. We’ve known many who are now back to being poor after years of working abroad. This is also because most of them are not wise enough to go into investing to secure their future.
However, because doing anything else, first, there are some things they must consider before doing so. They must first determine if the investment is for personal use or for lease purposes. There are a lot of OFWs who are originally from the provinces outside of Metro Manila. Those looking to purchase a residential condominium for lease purposes might want to consider units in or near the NCR region’s main CBDs. This is where on would currently find most of the rental action. Acquiring a condominium in the province is also a good idea because of the potential increase in property values, though lease demand might be different.
One of the top priorities in investing is having a home. This is to live up the Filipino dream and it is one of the first steps of having a stable living. Some workers are wise enough to make this on top of their list and start investing to have a property as early as they can. This way they can secure that their earnings are not only being spent spontaneously but it is going somewhere that can benefit them.
Next is another source of income or business this aids in providing to the needs of the family left back home also, to help to have additional income for savings or other expenses. There are a lot of business opportunity options that an individual can engage to have a good business all he needs to have is enough capital and knowledge as well as good decision making.
Insurance is also an important investment. Aside from all the material things, nothing is more crucial than having security with your life, your property or your family so that when unexpected circumstances come, you can assure that you or your family will not be left with nothing.
Planning for your life is really a part of working abroad. Many chooses to sacrifice to be able to save so that eventually they don’t have to leave anymore and they can settle down with their own homes while some chooses to continuously work and work to achieve something and alleviate their lives and be able to get the cozy and rich status. Regardless of the purpose it is important for everyone to have security in every aspect of their life and nothing can prepare you more than having good investments in store. It is still your choice what you would want to focus your resources to what’s important is that you will be able to achieve your ultimate goal. To have prosperous and sustainable economic growth as an individual.