Latest Stories

Coming back home means planning for it

By ,

MANILA, Philippines – Lists run our day-to-day activities, whether we like them or not. Each of us probably has some kind of list to refer to – things to buy at the supermarket, things to do at work, things to get done over the weekend, things to do before the age of 40, and so on. Unfortunately, preparing for one’s financial future gets the least priority, or doesn’t even make the list.

This holds true as well for thousands of overseas Filipinos who fail to plan for their future. Many are so obligated to keep on sending money to loved ones back home, leaving the entire responsibility of earning and saving to the OFWs. OFWs feel guilty leaving behind their families and thus, compensate materially with things hard-earned money buy.

OFWs can dispense tough love by withholding some of their hard-earned income and asking their dependents to make the money that does get sent home work hard for them. One doesn’t need the latest smart phone to call and text. One doesn’t need designer brands if generic labels work just the same. The dependents should make sure to live within their means and spend the money wisely.

In the meantime, what should an OFW do to money withheld? It’s one thing to actually have money to invest and another to have no clue what to do with it. Once financial goals are defined, one should invest in financial instruments that feed his risk appetite comfortably and according to his plan.

In the long run, most OFWs dream of coming home instead of toiling their retirement years abroad. But coming home means planning for it, and there’s no time like today to do it.

If you still don’t have a plan, or maybe just want to revisit goals you’ve set in the past, talk to your financial advisor and discuss how you can start achieving them; you can begin by logging on to http://philamlife.com/en/individuals/products-and-services/ofws/.   (advt)

Bring home more than just a Balikbayan Box for your family

with Philam Life’s BalikBayani Pasalubong Package for OFWs.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: OFW , Philam Life

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Palace prepared to charge its allies
  • 12 senators on Napoles ‘pork’ list, says Lacson
  • PNP chief on plunder raps: ‘Amateurish’
  • Makati readies 12-month traffic plan for Skyway 3
  • Heard on Radyo Inquirer 990AM
  • Sports

  • Mixers trim Aces, force do-or-die tiff
  • Donaire junks Garcia as coach, taps father
  • ’Bye Ginebra: No heavy heart this time
  • UAAP board tackles new rules
  • Baguio climb to decide Le Tour de Filipinas
  • Lifestyle

  • Entering the monkhood a rite of passage
  • Haneda International Airport: A destination on its own
  • Wanted: Beauty queen with a heart that beats for the environment
  • Kim Atienza: At home with art and design
  • Life lessons I want to teach my son
  • Entertainment

  • Return of ‘Ibong Adarna’
  • Practical Phytos plans his future
  • In love … with acting
  • From prison to the peak of success
  • ‘Asedillo’ location thrives
  • Business

  • PH banks not ready for Asean integration
  • Stocks down on profit-taking
  • Banks allowed to use ‘cloud’
  • SMIC to issue P15-B bonds
  • Honda upgrades PH plant
  • Technology

  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Engineers create a world of difference
  • Bam Aquino becomes Master Splinter’s son after Wiki hack
  • Mark Caguioa lambasts Ginebra teammates on Twitter
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • 19 Ukrainians, Russians, Filipinas rescued in bar raid
  • Filipinos coming home from Mideast must obtain MERS clearance – DOH
  • US Secret Service in Manila ahead of Obama visit
  • Palace thanks Estrada for successful HK mission
  • Hong Kong accepts PH apology; sanctions also lifted
  • Marketplace