Do You Want to Grow Your Money and Retire Early and Rich?

We all dream to land a lucrative job right after we finished our college and earn a high salary as possible to attain financial independence. We go out and find that dream job or seek greener pasture. There’s a sense of self gratification if we could find that one ideal job. For OFW (Overseas Filipino Worker) like me, it is an absolute dream if we can cross other country and find a good job there. The question now that we are earning a little higher than our previous job, do we have savings? How can we grow our money and return back to our home country and retire early and rich? If you’re working abroad for more than 5 years and still you don’t have “more than enough” money for your retirement and no investments, no bank savings and no properties, I guess you should be shifting your mindset now.

“How can the money work for me?” “Do I still need to work for money?”

At this stage, YES, if you don’t have big savings when you return home, if you don’t have the investments / business, no properties, definitely yes, you still need to work for money. But how can you save money?, how can you grow your money or how can you increase you income?, how can you pay off all your debts? and how can you retire early and rich?. Last year, when I was thinking about these things, yes, I need to do something. And thus, all these started.


Early retirement 

This should be your dream and your goal at your future way back when you were still in college and high school.

Because if you don’t need to work for money, you can do anything you like.



How can you retire early? How can you retire rich?

Create your monthly budget/spending plan. Identify your biggest expenses and cut them off.

One of the biggest mistakes of an OFW is that they don’t create a plan on how they’re going to spend their money. I admit, I was one. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Spend only below your means (yes, not just within the means but if possible below your means). Set aside 20% of your income for savings and investments.  In fact, the bulk of our money goes to these 3 things, which are of course necessary, but there are ways on how to minimize it –  HOUSING, FOOD/GROCERIES, TRANSPORTATION.  If you are above-average (high wage) earner, you could have afford to live in an extravagant apartment. You could go out anytime with your friends and spend  your lunch and dinner in a class restaurant. You could ride a taxi cab / “grab a car” or “uber” going to work and going home.  Because you are thinking that you have a higher pay, you have your money that can afford your lifestyle. BUT  “you should focus on the biggest needle-movers to your spending”.

Pay only for a reasonable price, do not increase your lifestyle. Remember, not all things are permanent, you could lose your job at anytime then what happens to you next? So now, we should have that fund for contingency and savings for the future in such case.

Housing You can just rent a room partition or a bed space if you don’t have that much things. You can buy secondhand for your room furniture / stuff (if stuff is less than one year old, it’s ok!).

Food You can cook for your breakfast, lunch and dinner so you can save instead of going out to a restaurant.

Transportation You can just ride a metro train (government rail transport system) and a bus instead of a taxi.

These strategy can cut off your expenses. Plan ahead of what you’re going to spend in a month, make an excel sheet of your income and expenses. AND – close your eyes to the things which are not so important – do not be an impulsive buyer (I’m raising my hand here for I am also guilty that I was once an impulsive buyer, but slowly I created the ‘budgeting’ mindset).

Before purchasing something, think about it’s cost per hour

Shift your mindset to saving rather than spending. Big sale in malls will always be there. But is it really important? Or if we’re going to buy something which is out of our budget, “don’t take prices at face value” – consider them in context of how many hours of work it would cost.

“If you think about how much you earn and divide it by the number of hours you work, you get the amount of money per life unit.” That is a good strategy.

Your Income  (sample table)
Monthly Income
(average earner)
 $              2,000.00
Daily Wage  $                    66.67
Your cost/hour  $                      8.33
Your Item Purchased
Cost of iPhone  $                 700.00
cost of iPhone
over your cost/hour
84 hours

** Your iPhone  would shake out

84 hours’ worth of work.

It’s not only the amount of money that you can save, but it’s the MONEY THAT CAN BE INVESTED and INCREASED. You need to think of the things not just what you can save by not spending on the things you want, but having that money work for you and compound. By these method, it will change your mindset and  180° shift on the way you spend your money. You can instead invest on things or something that has a Return of Investment (ROI ) rather than things that Rests in Peace (RIP), meaning the value depletes over the period of time.

Bank Savings, Investments and Business

Let’s say you minimize your daily expenses by just $5 – that is saved in the meantime – it’s $1,825 in a year. That one year savings could accumulate interest in an investment account. Keep that for up to 10 years and let’s see what will happen to your money if you add an 8% Rate of Return – your money grows for more than $33,000 in 10 years time, by just cutting your daily latte of only 5 dollars.  


Another way to grow your money (aside from cutting off your daily expenses then save that amount), is through jumping off a business (you start with small business first like online business, or turn your passion into profits) and invest in some properties and stocks.

Business or Investments – both you may do, the difference only are the impact on taxes, and the expense deductions and the losses.

Investments – example, you made a pile of money on big land deal or stock trade, you are an investor and not a dealer on the business.

Business – if you incur legal, brokerage, license fees, and other expenses. Business expenses and losses are unlimited.

You can grow your money by investing in stock market (detailed discussion on a separate page) and real estate, and starting your own small business such as online business – e.g. blogging, online shop, affiliate marketing, etc. and also thru direct selling or networking.

There are a lot more ways to increase your income by not depending on your salary alone. PASSION INTO PROFITS –  if you’re good at hosting, balloon making or photography – you can host a party or organize an event, or take photos during wedding prenup of your friend – and ‘Khalas!’ you already made an extra income. If you are planning to retire from your corporate job at the earliest, start investing now, start saving now and do some sideline business. Set aside a portion of your salary thru investments and petty business and later it will grow.

Savings thru banks is also another approach. As an OFW, that is the safest way to keep and grow your income (deposit it to a bank), though I suggest that you should risk a little amount from your salary by doing part-time business and invest in stocks and properties – for a long term, because your Bank money may grow a little longer but with a lesser amount of rate of return.

Plan your spending, plan your business, study and read about what businesses and investments you want, start and test your idea. You will never know unless you start!

And you can always launch a new business while keeping your job (like me) and you can soon terminate your boss and be the boss of your own company. 


Remember, Action Brings Cash!

You may send me your personal message at and I will be glad to answer
 you, or you may also post your comments and review below. :-)

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