Business News Philippines
There are at least 10 million Filipinos working outside the Philippines; they are called overseas Filipino workers (OFWs). Many of these OFWs went abroad with hopes of providing a better life for their families as it could not be denied that the salaries they receive outside the country are a lot more than what they would get if they worked on the same job in the Philippines.
But instead of getting a better life, many of these OFWs remain deep in debt and go home after years of working with little or no savings at all, mostly because they did not save, their families lived in luxury, and they did not invest their money.
Don’t make the same mistake. Here are some great investment opportunities for OFWs.
Real Estate
There is real estate boom across the Philippines – and the demand for housing never goes down. So, it is a good idea to invest in real estate, especially because OFWs ideally have the money to set up a capital for this type of business.
Stocks
When it comes to investments, stocks often first come to mind. People who invest in the stock market become a shareholder in the company they invest in; the larger their investment, the bigger their participation in the company – and that could translate to a bigger profit if the company does well.
The downside to this is that you do have to have at least some basic knowledge about the stock market or you might end up losing all your investments if you make bad decisions.
Investments in stocks require an account with a broker.
Mutual Funds
Considered one of the simplest investment options, mutual funds will let you invest your money without you needing to constantly monitor its movement as everything is under the hands of a fund manager. Of course, you will have to find the best fund managers to make the most money but at least you won’t have to do all the work by yourself.
Unit Investment Trust Fund (UITF)
As with mutual funds, you leave your investment in the capable hands of a fund manager but the difference is that part of your investment is held in trust. Also, while mutual funds still work on shares, the UITF involves ‘per unit’ investment.
Investments in mutual funds and in UITF can be done directly with the banks or through insurance companies.
Aside from these investments, you can also grow your money by starting a business. Here are some ideas: 21 Best Business Ideas in the Philippines
