Maricor Bunal
Although being abroad has its perks, coming home and being with one’s family is an OFW’s ultimate dream. Some might even work two to three jobs just to be able to provide for their families and put away a significant amount of money as well so that they can come home quicker and be with their loved ones for good. Aside from saving your hard-earned money, OFWs like you can also put your cash to good use by investing in the following while still working abroad:
1. Real Estate
Investing in real estate, whether you’re just buying a house for the family or planning to go into rentals, is a smart move. It’s also one of the easiest investment vehicles to get into. The value of real estate never decreases. The more you put into home improvement projects, the more you can get from your property just in case you decide to sell it in the future to buy a new one. There’s also a constant demand for a place to live, so if you’re planning to rent out your property, you’ll be sure to have a steady monthly income.
2. Stock Market
If real estate is one of the easiest to get into, investing in the stock market is one of the most challenging. You don’t just hand your money over and expect miracles, unless you’re one lucky person. If you’re considering the stock market, it’s best to study the basics and do your research. Talk to experts and attend seminars, which you can do online. Once you understand the process, you’ll have a big chance of growing your money to as much as 50 percent per annum. With the influx of trading platforms online, it’s also easy to open an account with just PHP 5,000.
3. Business
Does your spouse have a hobby that can possibly become a lucrative venture? Instead of just letting your money sleep in the bank, start a small business with someone you trust. For instance, if your husband loves to cook and has everyone raving about his dishes, then a small catering business may be the start of something delicious.
4. Franchise
If you want to go into business but hesitant about starting from scratch, franchising is one way you can put your money to good use. Although there is already a system in place, you still need someone you can trust to manage the business. Aside from your franchise fee, make sure that you have money to pay for overhead expenses, permits and other necessary expenses. For additional cash, you can always consider the OFW beneficiary loan.
5. Education
Brad Henry once said, “No other investment yields as great a return as the investment in education.” With that being said, putting money away to go towards your children’s education or for your additional knowledge is one of the smartest investments you’ll ever make. Even if your kids are still toddlers, paying for a college educational plan can save you thousands of pesos, and a lot of headache in the future. No one is certain of the future and if anything happens to you or your spouse, you can at least be assured that your children’s education will be taken care of.
