Since last Sunday was Father’s Day, I just want to share what I learned from my father or from his mistake on how he handled his money. Papa was a seafarer, he was the main man in the engine department. With his position, a lot of our relatives and family friends thought that we have a lot of money. Sure, Papa and Nanay have acquired some properties in the province, jewelries, and have some money in the bank. But are these enough to support them throughout their retirement?
Unfortunately not. The interest in the bank is very small that when you factor in inflation, lugi ka pa. I can’t blame my father though because a lot of their investments were just simply offered to them by relatives and friends. They bought them out of goodwill and pakikisama not thinking of the market value in the future.
