Saturday, 15 October 2016
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
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
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 Newbie Session Batch 2|
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 :)|
|OFSI Newbie Session Batch 2|
Tuesday, 2 August 2016
|Meeting a fellow OFW before his vacation for tips and ideas.|
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
|OFSI Core Team|
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.
Thursday, 9 June 2016
|MOH Nurses Special Batch 4|
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|
Friday, 13 May 2016
|BATCH 10 Attendees with OFSI Founder/President|
Nineteen OFWs completed today the 5 sessions Basic Financial Literacy series for OFWs. This series is being provided for FREE, Modern Bayanihan of OFWs, where we empower and enable fellow OFWs make better financial decisions.
Below is a testimony of one of the attendees, Mr. Maynar Molina, who is a Nurse/EMT.
Saturday, 30 April 2016
|Edric Mendoza of ANC On The Money|
He also shared that one of the most cherished values that he teach his children is about Obedience and that if we don't obey, there are consequences.
It also my second time to see his eldest son, Elijah, to give sharing on stage during a financial event. Elijah shared 3 biggest learnings from his father. The value of hardwork where he narrated how they bonded as father and son on his 13th birthday where they climb Mt. Apo. They struggled for four days to reach the summit but the view was spectacular and worth all the difficulties along the way.
At a young age, Elijah had started investing in the stock market with blue chip companies. He said that this is the value of Oversee. He also shared the importance of being grateful in life.
Edric Mendoza is indeed living to his mantra that we can change the world one family at a time.
|Edric Mendoza's key lessons from interviewing more than 1,000+ guests in his program On The Money|
|Father and Son|
|Edric Mendoza explaining the importance of having a clear End-Goal.|
|Edric and Joy Mendoza's five children|