To prepare for the future is any working Filipino’s goal in life. This means a lot of things: education for the kids, health insurance for medical emergencies, or a secured retirement or a convenient house. Such aspirations have prompted many Filipinos to seek employment abroad since better-paying work opportunities are still scarce in the country.

To date, there are over 2 million overseas Filipino workers (OFWs) who have been working around the world. This does not include the undocumented Filipinos who have acquired employment in many countries after gaining entry through tourist visas. Nevertheless, the remittances they are sending back to the Philippines keep the economy afloat.

READ ALSO: Reasons why OFWs return home still poor

Making the Right Investment

For almost all OFWs, the opportunity to work in a foreign land entails risks such as unhealthy working environment, maltreatment from employers or co-workers, accidents or acquiring illness without full coverage insurance protection. Aside from these, OFWs have to battle homesickness and miss important events of their family members such as birthdays and graduations.

Despite these, OFWs make it sure that all their sacrifices are worth taking. OFWs nowadays have become much wiser when it comes to financial management. They have learned to invest properly their hard-earned money so that when the time comes for them to return home and retire, they can enjoy the fruits of their labor.

There are many forms of investments that are available in the market that OFWs can choose from. They just have to choose the one that fits their interest, need and budget.

Here are five kinds of investment schemes that The Filipino Group gathered for your information:

Real Estate

This is the most common type of investment of OFWs. Of course, it is every Filipino’s dream to have his own property to build a house or to live in a townhouse that reflects his lifestyle. This is a tangible form of investment which you can be proud of as an owner.

You have to make extensive research when investing in real estate because it involves a large amount of money. You have to consider these things also: validity of the land title, materials used for the construction, location, and accessibility to establishments and what not.

Ask help from a reliable real estate agent. He/She will be there for you from scouting of a property down to the transferring of your name to the land title and occupy of the property.

Sari-Sari Store

This is the easiest and fastest form of business that you can put up as an investment. You can either put this up at a rented commercial space or consider building the store as an annex of your house. The good thing about this kind of investment is that you can rely on the help of a family member. In most cases, your spouse can help you run this business. This is a great form of business since it can involve your family members and, if you have kids, this could be a way of orienting them to the ins and outs of business at a very young age.

In setting up a sari-sari store, you have to get a business permit from DTI and mayor’s office. Make it sure that your store is located in an area where there is heavy foot traffic because they are your potential customers.

Remember, the sari-sari store is the easiest and most practical option for the grocery stores or malls for Filipinos who reside far from these establishments.

Franchise Food Cart / Restaurant

Food cart franchising has become a fast-rising small business that can help you acquire immediate Return of Investment. What you need to highly consider in opening one is to choose the more established and recognized brands like Mr. Siomai. Like a sari-sari store, find a place where there is heavy foot traffic such as malls, schools or market areas.

A food cart requires minimal labor to run it since you only need to hire one or two staff. You can choose a variety of food carts with prices ranging from Php 15k-150k.

In case of opening franchise restaurant, it is advantageous because it has a fixed system and an established brand name. Unlike start-up concepts, you still have to consider what food products you need to sell and if it would win the taste buds of the Filipinos. Although a franchise restaurant might cost higher than franchise food cart, if managed successfully, your investment would surely pay off. Family members can even take part in managing it while are still earning abroad. Franchising may start from Php 300k-1M.

Online Store

The good thing about being an OFW is that you are not only able to experience the culture of the country where you are working in but also see the uniquely designed products which you can only find there. This can be an opportunity for you to advertise and sell such items through any platform on the internet such as blog, website, or social media.

Online selling has gained momentum nowadays as the internet has become the easiest way to sell anything. From RTWs to beauty products, sneakers to gadgets, house tools to furniture, the possibilities are limitless. You can opt for opening a storefront on eBay or Amazon to target a global market or you can create a business page in Facebook and upload pictures of items you wish to sell. The only thing you need to do is to diligently scout for the latest trends in the market and choose the ones that are highly saleable and practically functional or useful especially to our kababayans. Well, you pretty much have a good idea of the purchasing power and tendencies of our fellow Filipinos.

Insurances and Mutual Funds

Insurances and mutual funds is a wise way to let your money grow and become useful in the future. With the growing number of insurance companies in the country, you can choose one which best suited your needs.

Some insurance companies like Insular Life, Sun Life, and FWD, integrate mutual funds to give you a more comprehensive policy. Mutual fund and insurance gives you more coverage for medical-related situations and also making your money grow until your retirement age.

These are just some of the many investment schemes that you can choose from. You just have set a goal and take risks. The demands of life may change over time, but let your resources remain constant to give you and your family lifetime security and stability.

READ ALSO: 5 ways how OFWs can protect themselves from investment scams