It's never too early to start thinking about retirement, whether you've only recently started working abroad or have been an OFW for a while. The ultimate dream of many employees working abroad is to spend their entire lives with their loved ones without worrying about money.

You might still be relied upon by family members when your work is over, or you might want to escape burdening your kids when you retire. You'll need your savings at that point. If you have good money management skills, you may even turn these funds into a source of lifelong income and leave a legacy.

With the right planning and vision, you can start turning all these visions into reality:

1. Know the basics of post-retirement life before you leave your work.

While everyone will have different needs in retirement, some things never change. These include shelter, food, and medical treatment. Future medical costs are typically a top concern because they are prone to rise in retirement. However, if you're still young, you can reduce medical expenses by starting to take care of your health right away.

Your retirement budget should cover your wants, such as travel or entertainment, in addition to the requirements. After finishing your profession, consider the lifestyle you want to lead, and be sure you save for a life that doesn't compromise your definition of comfort.

2. Learn about investing in real estate.

You can benefit from real estate in a variety of ways during your retirement. You can purchase a home and increase your equity, purchase a commercial space and launch a business, or renovate a property and resell it. One of the best strategies to begin owning real estate is the third tip.

You will be better prepared for retirement if you purchase a home and pay it off. If you now own a home, you do not need to be concerned about future rent increases due to inflation. A home, depending on its location, can also aid in wealth accumulation, particularly if it is later rented out or sold for a profit.

The pag-IBIG program for Affordable Housing greatly helps OFWs. The Pag-IBIG Affordable Housing Program (AHP) was created especially to meet the housing needs of those who make minimum wage. For instance, the durations can be as long as 30 years at a low-interest rate.

For OFWs, the Tahanan ng Bagong Bayani (TBB) program is available. In a February 2022 communication, the National Housing Authority and Department of Labor and Employment implemented this effort.

The same low-cost housing units that the GEHP offers are available for purchase by OFWs. They can also use in-house financing to pay for the residences.

Before going to their NHA office, all OFWs filing for TBB should fill out the regular GEHP application form and have it notarized. The applicants must fulfill the following requirements as well:

1. Proof of Income

2. Overseas Employment Certificate

3. Proof of identity

4. Proof of civil status

OFWs must have a birth certificate and an official identification card. You must show a marriage certificate if you are married. On the other hand, candidates who have actually split from their ex-spouse must provide an affidavit of separation.

Purchasing a home may seem like a far-off dream to some Filipinos. Saving money might be difficult given the rising prices of necessary products and services. Thankfully, housing programs from Pag-IBIG and NHA help government employees and OFWs have a foothold in the housing market. Government employees and OFWs in all salary groups can acquire property with a suitable payment plan.

You must keep your attention on location if you want to get the most money from your home. It's important to know the advantages of Cavite housing development projects like Lumina Tanza. In this house and lot for sale, you may avail it through bank financing or even deferred payment. Deferred payment refers to zero-interest installment for a short period of time.

Also, within the 500-hectare master-planned neighborhood of Next Vista City of the South, which is 30 to 45 minutes from Pasay, Manila, is where Lumina Tanza can be found.

Because of its advantageous location, it has the best reservation sales history among all Lumina projects nationwide, making it one of the company's best-selling projects.

3. Make your savings automatic.

Pay yourself first and automate the process to achieve your financial goals. Paying yourself first entails saving money before paying bills, whereas automating entails setting up a month-to-month transfer of funds to your savings account. This allows you to invest your money wisely and avoid the urge to overspend.

In a similar manner, investing some of your income in real estate assures that you do so first. Once paid off, you'll receive savings in the way of home equity and become the proud owner of a possession that you may leave to your kids and grandkids.

All these suggestions can aid in securing your retirement, but the most important action is to begin saving right away. When you have enough cash on hand, start investing right away, and don't stop.

4. Choose the Right Investment Mix.

Depending on the level of risk you can manage, you might wish to take other money-making options, such as stocks and bonds, as you get more experienced with investing. Your particular investment mix should change as you mature. Keep in mind that what worked in your 20s or 30s might not give you the returns you desire in retirement.

While waiting, if you have a high-paying job abroad, think about the benefits of owning a firm for your investments. Establishing your own business can allow you to potentially make an endless income, regardless of your age.

You may start small and save money by starting your business from home if you want to learn more about entrepreneurship. If you have additional money, think about purchasing a property in a desirable and convenient location like Lumina Tanza. With its proximity to transport hubs, and homeowner's initiative to support each other's businesses, it will surely boom!