Saturday, 15 October 2016

OFWs into Farming...

Sir, maraning salamat sa inyong financial literacy. Eto po yung isa sa mga bunga!!!

This is the message I got tonight while stuck in the office with our team for a system maintenance activities.

Indeed, we never know what impact we can have on others. What was a low key financial literacy for OFW friends is now bearing fruits for others. A small act of sharing can do wonders if the recipient has a biased for action on whatever they learn.

This is also a testament that OFWs can grow our savings in so many ways and one of them is by investing directly into the agricultural sector.

And for someone who is a farmer at heart, I am so happy to see fellow OFWs who are getting into farming.

The same OFW who is now into farming also invests in financial instruments like stocks. In his last vacation, he also had his insurance needs reassessed and told me that he also stop his credit cards.

I am so excited what the future holds for these fellow OFWs who have become SMART investors - financially equipped and enabled to make better financial decisions...


Saturday, 3 September 2016

OFSI Batch 11 of the Basic Financial Literacy Series for OFWs Begins

Yesterday is another well spent late afternoon with 26 fellow OFWs who attended the Module 1 of our Basic Financial Literacy series for OFWs. This is now our 16th batch to conduct including our special batches for nurses and online batch for UAE and yet, the excitement, joy and fulfillment to reach out to fellow OFWs despite my challenging schedule never wavered.

Module 1 is when we go through the foundation of investing, that is, practical tips and strategies on goal setting and saving as well as revisiting our beliefs about money and rich people.

OFSI will continue to contribute in Enabling and Empowering fellow OFWs to make better financial decisions in the hope that we can help in breaking the cycle of family separations just to earn a living.

OFSI - Overseas Filipino Smart Investors

Tuesday, 23 August 2016

Is the Fund You Are Building for Retirement Enough

Is the Fund You Are Building for Retirement Enough? This is the question I posed to fellow OFW investors during our recent session.

In many instances, we are saving for our future goals without taking into account inflation. It is the same mistake I made 15 years ago when I started to save and invest.

It may sound basic but the reality is that many OFWs are not equipped with the enough information hence we end up retiring in poverty or barely surviving with our retirement fund. We should not forget that most OFWs do not have mandatory pension funds such as GSIS. And even we have SSS, it is barely enough for our basic needs.

Below is my suggested simple guidelines on how to calculate enough retirement fund.
1. Calculate years to retirement.
2. Get the current monthly lifestyle cost of your desired retirement. Apply CPI as inflation to get the future value of your desired retirement.
3. Get the number of years between your retirement and the usual life span of your family.
4. Determine how many months or years you want to save for it.
5. Calculate minimum monthly investment needed. Apply rule of 72 with the interest dependent on the financial instrument where you can invest your fund
6. Choose the best investment instrument for this goal. If more than 10 years, you may put in stocks - either direct or pooled funds (Mutual Fund or UITF).

This is just general guideline. You still need to sit down with someone who can help you calculate depending on your own circumstances.

Note that long term healthcare should be a separate fund from retirement fund. And we should not forget while building our retirement and long term healthcare that upon retirement, we will have more time for socials as well as become more sickly.

When I ask fellow OFSI members on the biggest challenges they face in building these funds - EXECUTION and CONSISTENCY come on top of the list....

So the key to success in building your funds lies in finding ways to be consistent and becoming biased for action!!!

Be Money Smart Everyone!!!

Friday, 19 August 2016

OFSI conducts another Passive Investing for Newbies

OFSI Newbie Session Batch 2
Philippines is the fastest growing economy in Asia. But the big question is how can we feel this growth. While the government has to do more in bringing this growth to the sector where there are more poor Filipinos, i.e. Agriculture sector, we as individuals can make our own initiatives. We can help create small businesses especially for returning OFWs. Meanwhile, I strongly believe that our fellow OFWs can start to invest in paper assets as we prepare to go home for good. Invest in the country for our retirement fund, long term healthcare and children's educational fund. But before that, we need to make sure that the foundation of our finances is strong before we start investing.

Today, thirty fellow OFWs had attended our session for newbies. It is a 6.5 hours session but this did not deter our attendees to be glued from the start to finish. It is such a humbling experience to be in front of our fellow OFWs who are all committed to learn and excited to start working on their finances and investments.

The response for our session is another testament that our advocacy for a Modern Day Bayanihan of OFWs is slowly making a dent to the people around us. Our group is committed to continue reaching out to those who wants to partner with us to be empowered and enabled in making better financial decisions.

A toast to a great retirement for fellow OFWs!!! And Congratulations to our Newbie Session batch 2. Cheers to our journey towards Financial Freedom and Abundance...
OFSI Volunteers while sis Aiki is giving Insurance Tips
Feeling Model :)

Attentive Attendees










Traditional Selfie
OFSI Newbie Session Batch 2

Tuesday, 2 August 2016

How can an OFW Start Investing

Meeting a fellow OFW before his vacation for tips and ideas.
I'm always asked how can an OFW start investing. Here's my 3 simple steps on how can you start fast and easy.

1.  Educate Yourself
There is no substitute to learning. Attend seminars and webinars. Read books and blogs. Learn!!!

2. Pay Off Your Debts
You want to invest? Pay your debts first. You can have debts if it is used for creating additional income.

3. Learn How to Save
Develop the habit of a saver. Make sure you save part of you salary every month.  Start with small amount - whatever is possible and challenge yourself to increase it every month.

If you are able to do these 3 simple steps then you are on your way to becoming a successful OFW Investor and hopefully a successful OFW Entrepreneur in the future.

Anyone can be an Investor and Entrepreneur!!!

Have a Purpose for your Investments

Wednesday, 20 July 2016

Seminarista

OFSI Core Team
Seminarista ka na!!! 

This is what I told a friend of more than 10 years while he is updating me on the many seminars which he has been attending in the last one year. It is amazing how he transformed from a spender into a very focused OFW investor and entrepreneur in just one year.

I am overwhelmed with joy as I look back to how he started last year when he attended one of my seminars. He really applied all his learnings from goal setting to building his family's emergency fund, securing protection, investments into financial instruments as well getting into business. He did not only apply his learnings but he continuously sought events where he can grow and learn more. And my friend and his wife are way younger than me, so I am excitedly looking forward to see them retire young as they already have target passive income to retire. 

Whenever he tells me how he is grateful for getting him into becoming financially literate, I am always overwhelmed with emotions. But I also feel a little regret as he tells me how he wish they listened to me 10 years ago.

You see, I have been telling my OFW friends to start investing in financial instruments since I learned about mutual funds more than 12 years. But I guess, I was not yet believable then since I was just starting as well.

Financial Literacy is a basic life skill for everyone!!! And surround yourself with great friends who are positive influence and inspiration. I was just mentoring my friends before but many of them are now my inspiration to do more and become consistent in fulfilling God's purpose in my life.

Picture Taken during the Wealth Summit 2015 of Bro Bo Sanchez



Thursday, 9 June 2016

MOH Nurses Special Batch 4 started

MOH Nurses Special Batch 4
The MOH Nurses Batch 4 started today with the module 1 of the Basic Financial Literacy Series for OFWs. The special batch for nurses allows us to reach out to the thousands of fellow OFWs in the medical profession who works in shifts.

The session is extra special as I am still trying to regain strength from a sudden sickness and had to do the session practically sitting most of the time.

The hunger for information and guidance of fellow OFWs in today's session had once again affirmed OFSI's beliefs of this great need of financial education to greater number of OFWs. And it is also an honor to see the previous attendees who are now advocates themselves reaching out to their friends and colleagues.

This is indeed the kind of Modern Day Bayanihan spirit that the country needs. This is the kind of Modern Day Bayanihan of OFWs that contributes to the vision of united Filipino families in the next generation. Such that the next generation of Filipinos will no longer need leave their homes behind...

MOH Nurses Special Batch 3
MOH Nurses Special Batch 2
MOH Nurses Special Batch 1
MOH Nurses Original Batch who are considered OFSI Batch 2