A typical Filipino story, for sure, has one or more family members working abroad to save up for retirement. It has been an imperative for Filipino families to send off a member abroad to earn the money they’ll be needing to provide for a stable future.

So as much as it is difficult to give up the weekend dinners and Sunday masses with the whole family, it’s something every family should face for a better future ahead.

More than being the modern day heroes, OFWs are known to be one of the staples of the Filipino economy. They make up 10% of the Philippines’ GDP, which comes from the remittances OFWs send over in the country.

For many, payday Fridays come as a time for celebration and shopping. But for our OFW friends, it’s the time of the month to send money back to their family in the Philippines and save some for their next trip back home.

It is beyond true that working abroad means a better work experience and greater opportunity to save and invest money. But while the need for more Filipino workers abroad increases by the day, OFWs have to accept the fact that they cannot work abroad forever.

Their hardly-earned savings from working abroad must not go to waste. So, to keep the money circulating and producing more for their needs and expenses, investing is one thing that tops the mind of every hardworking OFW before retirement.

Here are some options OFWs can choose to invest in before they retire:

1. Real Estate

Having a house of your own might just be the best investment you can ever spend on in your life. For OFWs, a one- to two-year job abroad gives you a chance to invest in a house the soonest compared to those working in the Philippines.

More than just having a house or a business spot of your own is a concrete and indeed a tangible investment that you can eventually earn great returns from, as you can turn your real estate investments into a rental property. This can help support your family back home, and could even help you save extra and invest in more ventures.

2. Mutual Funds and UITFs

Investing in a mutual fund appears to be the simplest of the options. Mutual funds and unit investment trust funds (UITFs) are defined as pooled investments that OFWs can easily start investing in for as low as P5000. These make up as good investments because they do not require much effort and time to work on compared to other options that are more hands on.

Plus, it takes most of the work out of your hands and delegates it in the very capable hands of a professional fund manager. This allows you to spend more of your time on other business ventures to earn some passive income.

3. Stock Market

You don’t have to have millions to start investing in the stock market. With the wide availability of many trading platforms online, being part of the stock market trading has become easier and more accessible even to those outside the country. Some online brokers don’t even require personal appearance to be a part of the trading.

With the right knowledge and effective strategies in stock market trading, annual returns of 50% or more are made possible with stocks. And with the many available learning materials and seminars on financial literacy, it’s not going to be difficult to catch up on the way stocks work and keep money moving.

4. Business Franchise

Being a franchise owner offers OFWs a business of their own without having to start from scratch. You know your hard-earned money is invested into a proven business concept that has a higher percentage of success than start-ups.

A franchise is a great investment that has potential to grow and prosper. This way, your earnings from working abroad will not be depleted by the time you return home. However, bear in mind that opening a franchise is a big responsibility, but can pay off if you know how to handle and manage well.

There are many investment options available in the market that can help you get up and earn more than what you currently do. Investing is a great opportunity for financial independence OFWs shouldn’t miss out on.

There’s no perfect time to enjoy the fruits of labor than now. After all, your years of hard work and sacrifices need to pay off in the end, and you deserve to enjoy every single bit of it while you can.