21 September 2011

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Best possible investments for OFWs’



This post serve as a supplement to the BSP  latest survey result wherein 41.4 per cent of the OFWs’ are now into savings and investment. OFWs’ have the capability to lay down money and as such it should be used as a productive tool to achieve financial freedom.


  Here I am posting the best possible investment an OFW might consider.


Gold as an Investment:

Over the years the gold market has not been shaken by any financial turmoil. As a matter of fact, gold value has tremendously rising.  Consider the year 1970’s where the gold priced at $35 per ounce, now its reaching to $1,700 per ounce. According to some financial analyst the value of gold in the market might reach to a maximum $2,000 per ounce by 2015.

Property and Real Estate:

Since OFWs’ has the power to lay down money outright then perhaps buying a property is the best option. Philippines real estate business has been steadily booming even in the provinces condo units has been an option to some executive individual.  The only important thing to consider is the documentation and contract processing. I am telling you, this is tiresome and a good advice is getting a real estate broker.   The market value of the property depends on the location. If you’re considering prime lands you’ll expect a higher price. Property value never depreciates, to some it is  considered a dead investment but for me real estate is indeed a wise investment for OFWs'.

Mutual Funds/ Unit investment Trust Funds:

This is a complicated type of investment. The best person to help you on this is your bank manager or your financial planner.  Banks in the Philippines has offered great advantage on this program. BDO and BPI are the two best banks in the Philippines that offer better mutual investment plan. An initial investment is only 10 thousand pesos and ads on 1 thousand pesos monthly and your money will be diversified in any stocks available. This is like a passive income you’ll wait for a minimum of 3 years for your money to grow. A long term investment is better to see how you’ll money earns. This is only intended for those investors who are willing to take the risk, sometimes earnings are not always guaranteed as depending on the money market value available on the stocks exchange.



Time Deposit:

If you are a conservative investor and have not decided where to invest your money, better consider time deposit.  There are also banks in the Philippines that offer high yield peso and dollar time deposits.  BPI and Metro bank offered a better time deposit with an insurance coverage.  There are time deposits with short term plans which give higher interest earning this on the other way is subject to a special agreement between your banks.



I never consider business for OFWs as an option, it is too risky to take considering you are working overseas, don’t even entrust all your hard earned money to other people even your family members. If you want to settle down for good then that’s the time to think putting up a business as an option. OWWA has OFW reintegration program. Visit their satellite offices nationwide for more information and a better advice.

 Beware of get rich quick business program.  Multi-level marketing (MLM) and other networking business mushroomed in the Philippines, better check their background and company financial status before joining them. There are plenty of scammers in the Philippines whose main target are the OFWs’ so be wise and vigilant they are like vultures craving for your flesh and waiting when to strike the right time.


Options mentioned above are just brief information for your reading.  For you to have a good understanding on financial matter I suggest you do some research or better yet hire a financial adviser. Visit your bank and ask your bank manager about best possible options in investing your money. They are in the position to answer all your queries.

OFW money is hard earned money so make the most out of it.

  


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