We all know that working overseas is no bed of roses, it’s a painful sacrifice often coupled with success and failures. Whether you’re working locally or abroad, our ultimate goal is to provide our needs, feed our families, and save a portion for our retirement. Unfortunately, only a few overseas workers are able to save enough and prepared to forego their career abroad. Many are still returning back and forth despite having spent almost half of their lives abroad.
The reason? Because many Filipino-overseas-workers failed to invest their income wisely. Our failure to save and invest properly is more to do with our lifestyle!
See, it’s not about how small or huge our salary is, it’s all about our attitude, but don’t you worry, it’s never too late to invest now! I’m here to guide you where you should invest your income from abroad:
1. Real Estate – What do you mean by real estate? Real estate refers to the properties consisting of land, house, building, and its natural resources on it. There’s nothing more valuable and better than real estate investments, real estate yields more returns compared to any other forms of savings. Real estate properties don’t depreciate, unlike any other tangible investments. A piece of land is the best example of real estate property that appreciates its value.
When you buy it today, and sell it the following years, you’re most likely double the price depending on several factors. Real estate properties also generate direct income, like if you have a piece of land being used for farming. Other examples of income-generating real estate properties are houses, apartments or condominiums. Mostly wise and smart investors are keen to invest in real estate properties due to its advantage. The only downside of real estate investment is its liquidity other than that, it’s the best option that you should try.
2. Insurances – Are you aware that you can also invest through insurances? I’m sure you’re not totally familiar with this or maybe few of you did know. There are several types of insurances but we’ll focus only on Life/Personal Insurance. Personal Insurance refers to being insured against the risk of death, injury or illness. It works by paying a certain amount monthly, in case if anything might happen to you, you or your family will receive the insured amount. Life insurance is simply a protection if in case any untoward incident will occur. It’s really a great option for overseas workers like us, there are several companies offering this investment, choose the best one for you.
3. Mutual Funds – What is a mutual fund? A mutual fund is a type of investment that’s managed by professional investors. Meaning, you’ll leave your capital with them and they’ll be the one will make it grow for you in a certain period. The advantage of a mutual fund is that you don’t need to worry about your investment because someone who’s an expert will manage it on your behalf. Again, there are various entities offering mutual funds, decide which one is best for you.
4. Stock Market – Many of you heard of the Stock Market but only a few of you invested in it. Or should I say, only a few of you knows the idea of investing through the Stock Market. What is a Stock Market? The stock market “refers to the collection of markets and exchanges where the issuing and trading of equities or stocks of publicly held companies, bonds, and other classes of securities take place. This trade is either through formal exchanges or over-the-counter (OTC) marketplaces” (investopedia.com.)
I have been a Stock Market Investor for almost three years now and so far, I have already gained so much from it. However, please bear in mind that Stock investing is a high-risk form of investment. You need to research first and ask the expert when venturing into the Stock Market.
5. Bank Deposits – I made it on the last item as I’m pretty sure this is where you’re putting most of your income. Bank saving is the easiest and the most accessible forms of investment. Almost everyone who got the money would prefer to save their income through bank entities. Likewise, it’s the easiest to liquidate (unlike those I have mentioned above), you can withdraw your money at any time of the day. You can also access your portfolio online wherever you are in the world. However, the interest rate in the bank is extremely low, you wouldn’t really earn that much from here.
Have you decided where you should invest your money now? Among the aforementioned ways of investment which one do you currently have? Remember, the earlier you invest, the higher your returns. I hope this article helps you get the idea on proper ways of investing your income whether you’re working locally or overseas. Do you know any other forms of investment? Let me know in the comment box below! Don’t forget to share this blog.
The author is currently based in Saudi Arabia, the holiest land of Islam. He’s a full-time employee of the largest energy company in the world. He’s a graduate of Communication Management, loves to write and travel.