Influencer Dan Lester Dabon, Philippine Business Council – Dubai & Northern Emirates’ Chairman Edwin Duria, and Financial Coach Jay Tolentino have shared tips on saving and investing for overseas Filipino workers (OFWs) who plan to go home ‘for good’ in the future.
A panel discussion entitled “Changing mindset: Is saving enough para mag ‘for good’?” was tackled by the three speakers during the 9th edition of the Philippine Property and Investment Exhibition (PPIE) 2023 held from May 12 to 13.
The discussion centered on why saving is not enough for you to afford your ‘for good’ plan and why investing makes it faster for you to stay ‘for good’ in the Philippines.
According to Dabon, a healthcare professional in Abu Dhabi, CEO of DLD Consulting in the Philippines, and a father to Danaya, investing includes “high risks” but also come with high rewards.
“Feed yourself. When you reach that moment, you have to plan kasi diba lahat naman tayo nagsasawa,” Dabon shared during the panel discussion.
“The next morning you will realize I’m tired of doing this so what else can I do? So, at the end of the day, it’s about challenging the status quo and you have to believe yourself because if you don’t believe yourself, you will never go far,” he added.
On the other hand, Duria, Chairman of the Philippine Business Council – DNE, noted that OFWs should face their fear of failure and take every opportunity to invest.
“Hindi lang pupwede na malakas yung loob natin para gusto natin na mag negosyo, hindi pupwedeng ganun lang,” Duria said.
“You learn something for free from different platforms, nasa sayo na yun kung papaano mo gagamitin,” he added.
Meanwhile, Tolentino, a Financial Literacy Advocate and an Independent Financial Coach based in Dubai, revealed the different steps in building wealth such as defining your purpose, determining where you are, designing your lifestyle, getting out of debt, building your emergency fund, and having insurance.
“If you’re passive income is enough to help you sustain your day to day then you’re ready to retire,” Tolentino stated.
The recently concluded PPIE 2023 is the largest and longest-running property and investment exhibition in the Middle East and has gathered thousands of attendees from different emirates with a notable presence of high-level delegates from the Philippines and the UAE.
