5 Important Investments for Your Hard-Earned Money

Being an OFW has its perks: a higher salary, travel opportunities, and learning experiences that we wouldn’t have gained if we didn’t decide to go abroad. With greater purchasing power, however, we may be tempted to spend our hard-earned money on things that do not really last.

While there is certainly nothing wrong with sending “balikbayan boxes” to our families occasionally, we shouldn’t forget to invest in other important things, too. This article discusses five important investments that every OFW shouldn’t forget to make.

How to Invest your Money Wisely

#1 – Real Estate

Having your own house and lot may be one of the most important investments you will ever have to make. Aside from ensuring a place for you and your family, the value of real estate often goes up with time. These days, there are many real estate opportunities that OFWs could take.

Besides, even if you are still working abroad, you have much to gain from having real estate property. You can rent your place to someone else temporarily, which means you gain more savings. Similarly, you could also invest the money into a profitable business.

#2 – Education

It goes without saying that education is a big deal for Filipinos. We’ve all heard our parents say, “My greatest gift for you is your education.” Taking these words to heart, we do our best to finish schooling, knowing that it is our ticket to a brighter future.

Nowadays, you may have children of your own or younger relatives to help support. And so, instead of buying them expensive toys or gadgets, you could emphasize the need to focus on their education. This way, they will learn the importance of going to school and studying well.

#3 – Health Care

As cliche as it may sound, “health is wealth” still rings true for everyone today. You never know when you may encounter an accident or emergency, and it helps to have health insurance. Being medically “covered” reduces the financial burden that often comes with a health concern.

Since health insurance is mandatory for most companies, you may already be covered through your employer. But what about your family? Does your health insurance provider include benefits for them as well? Consider these things when deciding to invest in health care.

#4 – Financial Investments

Nowadays, more and more Filipinos are investing in stocks, bonds, and mutual funds. If you have money to spare and are willing to take some risk, consider investing in stocks. Meanwhile, if you want to play it safe, you could try investing in mutual funds and bonds instead.

Of course, you shouldn’t rush head-long into financial investments without experience. Before putting your money into any of these, get in touch with a financial adviser first. You could also inquire with most major banks, which have consultants that can help you regarding investments.

#5 – Retirement

Most Filipinos, including OFWs, do not think of retirement until it’s too late. Upon going back to the Philippines, they realize that they do not have much savings, and are forced to work again. Usually, they find themselves in the same situation that they were in before going abroad.

If you think you are too young to prepare for retirement, think again. The best time to prepare is now, while you are able to earn more than you need. Consider opening a retirement plan with a bank or other financial institutions, while you can still set aside some money for this purpose.

By keeping in mind these five important investments, you can be assured of a better financial status in the future. After all, this is what you aimed for even before you applied to work overseas — a comfortable, healthy, and worry-free lifestyle for you and your family.


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