Our Motivation

Even before I started investing, I am already an active saver. Or probably let’s just say that I don’t really fancy a lot of stuff and buy unnecessary things. My wife and I log all our monthly expenses not only for budget purposes but also to highlight the major expenses that we have paid for. We save more than 20% of our income per month. However, we know that merely saving is not enough to achieve our financial stability sooner.

Then came the recession that made a direct impact in the UAE where a lot of construction-related companies went bankrupt. What happened was like the survival of the fittest. Weak and newly established companies either closed or merged with stronger allies. Other companies restructured by laying-off staff or cutting expenditures by lowering salaries. We were just married then and my wife was one of those who were terminated because of company closure. The first thing we did was to pay off the remaining balance of her car loan with her separation pay. (Cutting off outstanding liabilities)

As she spent her time looking for a new job, she also got in touch with her former college friends who got to share with her their investments. She also motivated me to read books like Robert Kiyosaki’s Rich Dad Poor Dad and Bo Sanchez’ Secrets of the Truly Rich. We also tried FX trading by opening a sample account just for learning purposes. At the end of the day, we usually discuss investment strategies, business ideas, insurance, retirement and other new things that we have uncovered. We accepted certain realization that inspired us to take a step towards exploring the world of investing and securing our future.

Here is the list that became our motivation: 

1.  In the future lies many uncertainties. It is either you accept this fact or face the consequences by being ignorant. If you don’t plan well you might end up just wishful thinking.

2. We don’t want to end up like the other OFWs who retire without any investments or probably with some savings that would only last for a year or two.

3. We don’t want to be trapped in the rat race forever.  We want to retire early and spend more time with the family while having a stable source of income to last our lifetime. 

4. Speaking of “lasting our lifetime”, we don’t want to be a burden to our future children when we get old. Our goal on financial stability doesn’t end when our kids graduate from college. We intend to have our retirement plan to last our lifetime, literally. 

5. Putting all your savings in the bank is like giving full charity to the bank. 

6. Risk more while you are young. The greater the reward, the greater the risk. Risk wisely.

7. Avoid buying pseudo “assets”. It is only accumulating liabilities, not assets. Know the difference between “needs” and “wants.”

8. Multiply your blessings. Share whatever you can whenever you have the opportunity to share. However, there is always a boundary between giving a man a fish and teaching him how to fish.

Well, that’s how everything begins, having the motivation and proper mind set.