A Seafarer's Long-term Affair Back Home

December is here! ‘Tis the season for spending and saving when you come home to your loved ones.

For most Filipinos who work abroad, 'tis also the same season for coming home to their loved ones. They usually come with a box of pasalubong items and newly printed Philippine peso bills (mostly P20 and P50 bills) to give to children as pamasko or aguinaldo, regardless of how good or bad the World Economy is.

From their first voyage to their short stay home, in the country where they grew up, the echoes of “long time, no see” conversations from families, friends, and relatives become music to their ears.

It is during this most recent voyage to the Philippines that they splurge by:

1. meeting with good old friends, women, and barkadas and treating them to “inuman na may kasamang pulutan"; a different group of friends on a different day.

2. visiting relatives in the province and giving their pasalubong and cash (as pampaswerte) with the thinking “It is better to give than to receive.”

3. malling with the family, watching movies, and eating at a fancy restaurant because “Minsan lang ‘to.”

4. Shopping for Christmas presents and contributing to the engrandeng Noche Buena because “Baka isipin nila na kuripot o madamot tayo.”

5. busy thinking of a negosyo para kay misis in the form of, maybe a karinderya or sari-sari store or puhunan para sa pautang.

The problem for most Overseas Filipino Workers or OFWs is having a cluttered list of budget appropriations. This leads to mismanaged finances or a shortage of funds. You would usually hear them, “Na-short kasi ako sa budget.” or “Next time ulit kapag nakaluwag-luwag na.”

This results in their sacrifices of working abroad (if seafaring is not their dream job) becoming routine of their hard-earned money not being put to long-term use.

Often, our seafarers would need a couple of years working overseas for several shipping companies to save just enough for the children's basic education needs alone. Although Filipino workers have one of the highest-earning jobs in the world among other nationals from Asian countries, many seafarers retire with no savings or retirement plans at all based on the International Maritime Organization data.

Now, what should our seafarers (or seamen) do to make their savings bigger than their expenses?

The answer is simple. Invest.

Investment Opportunities for Overseas Filipino Workers

To invest does not only mean depositing your money in a bank account and waiting for the interest to do the magic. It also means spending it on something that would give your profit or benefits in the long term. 

You can invest in an affordable house and lot for sale property for you and your family, an educational plan for your children, or buy life insurance for the members of your family that could make your long-term affair back home worth it.

For our Filipino seafarer friends and relatives, their next pamasko will level up to newly printed Philippine peso bills (maybe bigger denominations like P100 to P1000) to give to children as pamasko or aguinaldo. Conversation and kamustahan will then happen in your own home with Christmas songs by Jose Mari Chan playing in the background.

Besides housing properties, seafarers can also invest in mutual funds, stocks, ETFs or Equity Trust Funds, and other pooled funds available in the market. There are also promising opportunities in angel investing and cryptocurrency, which are great vehicles to create financial security.

However, it is best recommended to familiarize and understand its business model concept to ensure that your savings and earnings from your several voyages of working overseas are all worth it. So, begin with small investment to identify its profitability.

It is also wiser to consult a financial expert as well. For pooled funds like mutual funds, trust funds and the like, seek help from a professional fund manager. Meanwhile, look for a business expert if you opt for angel investing. Join seminars and relevant events if you would like to venture in cryptocurrency.

Lastly, invest for your retirement plans. As you know, you can't sail forever. Once you reach the retirement age or age qualification limit as a seafarer, you can no longer get a contract even if you have a higher ranking position. Your body will not be the same when you were young then. Therefore, choose the right retirement plan for you.

Apart from life insurance, look for a place where you can enjoy the light of the day and the starry skies at night. You can save up to buy a farm house, beach house, raw lot, or an affordable house and lot property. Just make sure to plan ahead to ensure everything single thing is fully covered for you and for your family.

Who knows? Maybe next Christmas or in the next, you will be coming home to a brand new house and lot you can finally call your own.

Be a Part of Lumina Community through Seafarer's Investors' Day

Kickstart your seafarer's journey with an INVESTMENT OPPORTUNITY!

On December 12, premier housing developers Camella, Lumina, and Bria will bring the Seafarer Investors' Day which will highlight how seafarers can put their hard-earned money into a lifetime investment of having their own house and lot unit.

Lumina Homes is one of the leading developers of several brands of house and lot in the Philippines. They offer a wide range of house model selections from various Lumina communities nationwide. Through this, our Filipino seafarers can avail their long-time dream of having their own house and lot for their growing family.

Lumina Homes offer a flexible form of payment method and financing that is tailor-fitted to every Filipino's budget and needs. You can apply for in-house, bank financing, or a Philippine government-affiliated housing program like PAG-IBIG.

Investment opportunities and raffle prizes await at the Seafarers Investors' Day on December 12, 2015, from 10:00 AM to 2:00 PM at Max's Restaurant, Orosa St. cor. UN Avenue. Register online at http://eventregistration.camella.com.ph. For more information, call (0917) 857 6494 or (02) 584 8112!