Being an OFW is a tough decision yet fulfilling. Providing for your family is a noble thing to do while preparing for your retirement is beyond noble. Many OFWs prepare for their post-OFW life. It may look like such a sweet victory with finally being with your family, but do you ever think about what will be your life after working hard after all these years?
It is usual for ex-OFWs to enter businesses, may it be big or small to provide for their daily expenses as they dive into retirement life. It is not enough to have considerable savings in the bank as nobody knows what will be our journey in our post-OFW life. Also, money runs out if not properly managed.
So here is a rundown of investments you can enter as a retired OFW:
1. Franchise businesses
Franchise business has been a trend nowadays. If you are into juggling businesses to keep you as a busy retiree, this could be the one for you. You will need capital ranging from 50,000 to 900,000 pesos. If you want bigger franchises, you may consider allotting nearly 1 million. Big franchises start at 800,000 pesos.
Do not put all your hard-earned money at the franchise. You should also consider having an emergency fund. Also, miscellaneous fees, permits, license fees, equipment, additional expenses will come your way.
2. Stocks and trading
Stocks is one of the smartest ways to prepare or earn additional. Although this is a bit complex topic, invest in learning about its roundabouts. Read books and educate yourself first about stocks. If you are ready, open an account at Col Financial, a famous online broker in the country today. If done right, you will get a good return on investment to grow your money. However, always keep in mind to risk what you can afford to lose.
3. Real Estate
Unlike stocks or mutual funds, real estate property is a tangible asset. You can own a condo or a house and lot and put up for rent. You can also enter it on Airbnb, a legitimate online booking for properties. Put it into a short or long term lease. Real estate properties increase in value as the years go by. If you plan to do, buy, and sell, you could potentially save millions.
