Finally, I took the plunge!

Hahaha…  Shocking opening line but yes, I am happy to say that I have finally taken the plunge.  But it may not be the plunge you are thinking of.  I have diversified my portfolio and invested in real estate – a condormitel which I am initially planning to pay for 10 years in time for my semi-retirement plan and will be a source of a portion of my income replacement.  Why 10 years?  Because this is the time I have planned to be working overseas after which I will be going back home to be semi-retired.  When I go back home I don’t foresee myself working in the corporate world and being in the rat race.  That’s the major reason why I invested in real estate because when I go back home I still need a source of income to support my lifestyle and basic needs and I feel that this is one avenue that will support these objectives.

Can you imagine?

Seven plus years ago, I didn’t know and planned how long I will be working in Singapore.  I was even thinking of working until the retirement age of 60 years old.

Three years back, I never had any savings and investments.  I was spending money like there’s no tomorrow and burying myself in debt for consumables, branded items, travels, dining out and basically living beyond my means.

Things started to change when in Nov 2011 I attended a financial literacy seminar.  This opened my eyes on savings, debt management, protection and most importantly investments.  I was clueless about investments and I am happy that there are more groups and seminars now that are actively spreading financial literacy to Filipinos.

Digressing a bit, a Thai friend predicted that I will be having a big change in mid this year like promotion, change in job, change in house.  Initially, I dismissed this as I was just promoted last year so I had no plans of changing job or company and I was okay with my flat mates so I was not really thinking of moving out.  But life will always want to throw a curved ball.  The big change was me investing in a condormitel but then there is an added bonus, which shocked me after I came back from my holiday, that we need to move out of the flat as the owners need the flat (currently, they are staying at their parents’ flat and it is being sold).  So, May 2014 is memorable because it is the time I have started to invest in real estate in the PH but it is also the time we are being “kicked out” of our flat in SG.  How ironic can that get? 🙂