Beginners Stock, Investment, Stock Market
1 of Many OFWs: Beating the Odds and Finding Solace When Life on Pause During Pandemic
1 of Many OFWs: Beating the Odds and Finding Solace When Life on Pause During Pandemic
It is the Old Saviors that Needed Saving
October of last year, 2021, the Treasury of Capital Market Strategy shows that OFWs securing RTB ranges from at least 200,000 to 800,000. It’s their way of earning and also to help the country’s financial state and the economy.
Apart from government security investment, a study shows that a large portion of investments being allotted by OFWs is an investment in real estate. This might be a lot riskier and more volatile option of investment, but they consider it a steady and long-term growth. Aside from its value appreciation, it is also a safe opportunity for OFWs to allot their remittances. They could also consider pooled investments such as mutual and trust funds.
It is clear that the pandemic is forcing local public and private sectors and creatively piece together long-overdue reforms to create and sustain local jobs and support families now battling multiple rounds of economic displacement. The old, romanticized rhetoric of OFWs as long-suffering heroes is no longer tenable-this time, it is the old saviors that need saving.
The pandemic has compelled both public and private sectors to innovate and implement long-overdue reforms to create and sustain local employment opportunities and support families grappling with repeated economic upheavals. The outdated portrayal of OFWs as enduring heroes is no longer viable; now, it is they who require assistance.
Undoubtedly, the pandemic has precipitated significant setbacks not only for OFWs but also for the global economy at large. As economies strive to rebound, OFWs are charting their paths to survival and future security. For them, investment represents a means of nurturing their financial well-being. Their sacrifices, resilience, and determination to provide for their families despite geographical distance should culminate in a prosperous future, pandemic or otherwise.
Amid the challenges posed by the pandemic, the global economy, including the OFW sector, has faced unprecedented hurdles. Yet, as economies slowly recover, OFWs are strategically navigating their paths to ensure their financial security and future stability.
Investment, for many OFWs, is not just a financial strategy but a testament to their resilience and determination. It symbolizes their unwavering commitment to securing a better future for themselves and their loved ones, regardless of the uncertainties brought about by the pandemic. It encapsulates the culmination of their sacrifices, perseverance, and courage in venturing far from home to seek opportunities.
Furthermore, beyond financial investments, OFWs are also investing in their communities and families, fostering bonds and supporting local economies through their remittances. Their contributions extend beyond mere economic transactions; they represent lifelines for many households, providing essential support in times of need.
Moreover, OFWs are increasingly prioritizing education and skill development, recognizing the importance of continuous learning in an ever-evolving global landscape. They invest in themselves, acquiring new competencies and qualifications that enhance their employability and open doors to higher-paying opportunities.
Disclaimer: Information on this site is for informational purposes only and should not be considered financial advice. We are not financial advisors, and our content should not be taken as professional recommendations. Consult a qualified financial advisor before making any decisions. We are not liable for any losses resulting from reliance on our content.
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A multi-award-winning blogger and advocate for OFWs and investment literacy; recipient of the Mass Media Advocacy Award, Philippine Expat Blog Award, and Most Outstanding Balikbayan Award. Her first book, The Global Filipino Bloggers OFW Edition, was launched at the Philippine Embassy in Kuwait. A certified Registered Financial Planner of the Philippines specializing in the Stock Market. A recognized author of the National Book Development Board of the Philippines. Co-founder of Teachers Specialist Organization in Kuwait (TSOK) and Filipino Bloggers in Kuwait (FBK). An international member of writing and poetry. Published more than 10 books. Read more: About DiaryNiGracia
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