Real estate investment for a good retirement
My recent trip to the United States was one that was by far the most interactive. Interactive in the sense that we had a very wonderful and casual discussion not only about the heat in Philippine politics but also about their plans on investing back their hard-earned money in the Philippines more particularly in Cebu.
And I would like to thank Cebu Landmasters, Inc. for spearheading the event in New York, New Jersey, Las Vegas and Los Angeles. I wish we had enough time to cover other cities but we’re mapping out plans of going back there in August. So, to all our Filipino friends who were unable to attend our forum especially in New Jersey and New York, make sure to open your calendars on the last week of August.
Retirement is now a primary concern for many OFWs today. As a matter of fact, many of them will still end up working in their sixties and seventies for lack of savings or investment.
The most common mistake most OFWs commit is when they spend most of their money in unnecessary things like luxury cars, gadgets and signature wearables. Second, is when they entrust their money to their relatives to put up a business that they do not know. Third, is when they give in to the temptation of investing in high-risk investments or get-rich-quick schemes.
A good retirement from a very basic idea is saving for your forthcoming unproductive years. And we all need a good one to be able to support our needs at the time we reach our senior years, and of course to enjoy our new life as work-free individuals. But for many Filipinos, the idea of a good retirement is elusive or if not, an illusion for the countless others who spent half their life working their behinds to achieve it.
Getting a good retirement is a decision. We will never get one when we postpone it, or when we are unwilling to save. Retirement is also about planning for your future needs when pension money is not enough to cover them. Trust me, my late dad’s pension, even if we had to get all of them, was not even enough to pay for his hospital bills when he got sick.
Point is, retirement is something that you have to prepare today to meet the certainty of old age and the uncertainties that go with it. And the wisest way to beat the difficulties of old age is to invest in real estate. Real estate investment grows by itself even without you doing anything because of appreciation. Real estate increases with age. Hence, you can always trust that you have something that is willing to age with you to help you out with the bare necessities you desire.
However, you must remember that NOT ALL real estate properties are ideal for investment. You have to be able to choose the right property investment and my best recommendation is to invest in properties that generate income for you.
Among those properties that you can invest on are condominiums, apartments, and raw properties located in the urban centers. I will talk more about this in my next column and how you can comfortably retire through real estate without hurting your pocket.
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I would like to take this opportunity to thank our readers in the US for the warm reception you gave during our investment forum namely: Mr. Ibar Dinampo and his lovely wife, Alona; Mr. Darwin Tormis; Mr. Elmer Karaan; Mr. Anthony Buison; Mr. and Mrs. Robert and Grace Griffin; and Mr. and Mrs. Dwight and Aileen Baldoman.
Thank you for following this section and for making The Freeman and Philippine Star a part of your reading chore in that part of the world!
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