Retire Rich

Today, I challenged myself to exercise daily for one month. The exercise routine is very simple. Five regular push-ups, five wide push-ups, five diamond push-ups, 10 burpees, 10 jump squats. This is composed of 2 sets. I'm doing this routine in the morning after getting up from bed and another one after I arrived at home from work.

Forget about the background on the below picture. I edited in Canva to look nice. The routine doesn't need any equipment. No reason to go to gym. I just deleted the background because my room is disgusting. 

Why I'm doing this?

At age 47, I felt that I really slowed down. Not as sharp as before. The nature of my work requires me to sit most of the time. My posture is now molded to a chair. So, I will try to do this routine for one month hoping to build a new habit.

I went back to the basketball court also and started playing basketball to build my stamina.

On stocks trading

I intend to go back to stocks trading this coming January 2025. My trading capital was spent on the renovation of my vulcanizing shop. Hopefully, by January, I can pull out some of the profit from my shop and put it back in my trading account. Inshallah!

As a first time start up business owner, there's a ton of improvement I wanted to implement right away. But it could be overwhelming and stressful. So, I slowed down and enjoy every small details of the process. Continue stirring to create ripples and hopefully I can brew waves in the process. 

Slowing down business improvement in a startup allows me to savor each step of the journey, fostering deeper learning and creativity. By taking time to reflect, I was able to make more thoughtful decisions, reducing costly mistakes. 

This approach also encourages stronger relationships with customers and my team, as there's more focus on meaningful interactions rather than rushing growth. Enjoying the process cultivates a positive work culture and prevents burnout, ensuring sustained passion and energy. Additionally, it provides space for innovation, allowing the business to evolve naturally rather than forcing rapid changes that may not align with its core values. 

Retirement marks the end of one chapter and the beginning of another—a time to reflect on past achievements and envision new opportunities. For Overseas Filipino Workers (OFWs) returning home after years abroad, retirement presents a unique chance to reinvent oneself and contribute to the local economy. In this blog, I would like to share with you my journey as an OFW venturing into entrepreneurship by starting a vulcanizing business, utilizing my years of hard work and experience as a tool to somehow succeed in our homeland.

Well, when I said retirement, all I really meant was to stop being an OFW and return to the Philippines for good, not necessarily to stop working---but to stop being an employee. I wanted to be the boss this time and it can be done only when I run my own business. You might ask, why do I plan to retire for almost a decade now? This is because I have a lot of fears. First, I dont' know how to run a business. Second, I don't know what business to start. Third, I don't know about accounting---that's my biggest fear. I need to learn about business accounting. So, to prepare myself for these fears, which I consider as challenges. I started preparing as early as 2015, reading books about financial accounting. The book "Finance for Nonfinancial Managers" was the book that really helped me understand the basic concept of accounting. If you intend to return to the Philippines for good with your hard-earned savings money to start your own business, I recommend reading this book. This is especially true if your profession or your career as an OFW is outside the financial and accounting realm. 
Indeed, while Excel can be a useful tool for basic accounting tasks, it may not always meet the needs of more complex businesses or those seeking greater efficiency and automation. Fortunately, there are several sophisticated accounting software options available that offer a wide range of features to streamline your accounting processes and provide valuable insights into your business's financial health. Let's explore some of these advanced accounting software solutions:

QuickBooks: QuickBooks is one of the most popular accounting software options for small to medium-sized businesses. It offers a comprehensive suite of features, including invoicing, expense tracking, payroll management, inventory tracking, and financial reporting. QuickBooks also integrates with many other business applications and banking platforms, making it highly versatile and customizable to your business's needs.

Xero: Xero is another cloud-based accounting software solution known for its user-friendly interface and powerful features. It provides tools for invoicing, bank reconciliation, expense tracking, inventory management, and payroll processing. Xero also offers extensive integrations with third-party apps and services, allowing you to create a tailored accounting ecosystem that fits your business requirements.

FreshBooks: FreshBooks is an accounting software designed primarily for freelancers, service-based businesses, and small businesses. It offers features such as invoicing, time tracking, expense management, project management, and financial reporting. FreshBooks' intuitive interface and mobile app make it easy to manage your finances on the go, while its automation features help streamline repetitive tasks.

Wave: Wave is a free accounting software solution ideal for freelancers, contractors, and small businesses. It offers core accounting features such as invoicing, expense tracking, and financial reporting, as well as additional tools for payroll processing and online payments. Wave's affordability and simplicity make it a popular choice for entrepreneurs just starting with their accounting needs.

Sage Intacct: Sage Intacct is a cloud-based accounting software designed for midsize and enterprise-level businesses. It offers advanced financial management features, including multi-entity and multi-currency support, revenue recognition, project accounting, and financial consolidation. Sage Intacct's scalability and robust reporting capabilities make it suitable for growing businesses with complex accounting requirements.

These are just a few examples of the many advanced accounting software solutions available in the market today. When choosing the right accounting software for your business, consider factors such as your business size, industry, budget, integration capabilities, and specific accounting needs. It's also a good idea to take advantage of free trials or demos offered by software providers to test the usability and functionality of each solution before making a decision. 

In my case, I choose to learn QuickBooks. I practiced using QuickBooks by creating a dummy company and applied what I learned from the book "Finance for Nonfinancial Managers". In fact, I also learn to use QuickBooks to record my personal finances. 

The Vulcanizing Business

As I mentioned earlier, I have fears about starting my own business and the biggest is my fear about accounting which I ultimately learned. And the other fear is I don't know what business I'm going to start with. Some will tell you, to start with something that you are passionate about or something you are good at. That's the usual problem of the OFWs. Most of the OFW ahead of me that I know went back home for good and started doing business for the first time, hoping that it would work. However, most of them failed. This is because they did it for the first time with a business model that wasn't proven yet and they rely on the business as their major source of income. In other words sa bisaya pa, wala saligi pero maoy gikuhaan sa tanan. It is somehow bound to fail. So, I tried a different approach. I started a business while I'm still an OFW. I wanted to practice first. I wanted to run a business while Im still earning as an OFW. I think we are lucky now as we can run a business remotely with the help of the technology and Internet. We can use online CCTV as our extended eyes, ears, and voice for our business wherever it is located in the world. 

So, the fear, or shall I say the challenge to identify what business I'm going to start was answered. In January this year, our neighbor who was running a small vulcanizing shop wanted to sell his shop and all the tools available for 20,000 pesos. It was a conventional vulcanizing shop that still utilizing used oil to heat the iron pad to vulcanize the interior tubes of motorcycles and bicycles. At first, I was hesitant because I know how the hell a vulcanizing shop works and I don't know how to do it. And who will do it for me? Well, I realize that I work as an HR in a big oil and gas company in Kuwait so this is my strength,  I can head hunt someone suitable to work as my partner to act as tireman in this shop. 

What made me convinced to buy this vulcanizing shop from Rex Dalogdog is that he's been running this business for more than 10 years. So it only means that this business is working and was able to feed his family for a decade. So I grab the opportunity and this will let me start a business not from scratch but simply take over a viable running business. So I bought it and was able to hire a suitable partner for this business, So far the business has been running for more than three months now and was able to pay its own bills with a meager net income. I did not do any major renovations or purchases, I just operated it as it was and planned for renovations in the fifth month of its operation. 

I still don't know whether this business will indeed help me with my retirement so that I can ultimately go home to the Philippines for good. That still remains to be seen. What really I'm after is that I started a business and will apply what I learned and prepared over the years to an actual business. I already tried applying what I learned through a dummy business and this time I am doing it on a real business. And I am confident and comfortable doing it because the capital is not something that gets the bulk of my savings. And besides I'm not building it from scratch. Simply I just taking over a running business. So guys if you enjoyed reading this blog, continue to follow as I blog here whatever I learned running this business, I will share the challenges and the whole journey in general in this blog.

For those who follow this blog because of my stock trading content, don't worry guys I will be posting again videos or blogs about stock trading soon. Why I stopped trading is that I don't have the capital now. I utilized my trading capital for another business venture to add a diversification of my investments as I used my trading capital to buy a piece of land. Yes, I'm happy to inform you that I was able to venture into real estate thanks to my best friend Don Juan for the opportunity. I'm also willing to share the process here in this blog if you guys want to know how to buy land, its associated costs, and the processes. Thank you for bearing with me I know it's a long one. And if you come this far, thank you so much for taking the time to read. Until next time, let me know in the comments section what are your thoughts. 

As an Overseas Filipino Worker (OFW) back home we are called modern-day heroes, bravely venturing into foreign lands to provide for our families. Our sacrifices, often overlooked, shape not only our own destinies but also the futures of our loved ones. However, amidst the toil and triumphs, there comes a pivotal moment when every OFW contemplates retirement – a time to return home and reap the rewards of our hard work. Today, we delve into the journey of an OFW planning to retire, exploring the challenges, strategies, and emotions that accompany this significant transition.

Reflecting on the Journey 

As we approach the twilight of our career abroad, reflection becomes a cornerstone of our retirement planning. We reminisce about the countless days spent away from home, the challenges overcome, and the milestones achieved. Yet, amidst the nostalgia, questions linger: Have we saved enough? What does retirement look like for us? And, perhaps most importantly, what awaits us upon our return?

Financial Fortitude 

Financial preparedness stands as the bedrock of any retirement plan. As an OFW the journey towards financial independence begins long before the countdown to retirement commences. With few years left, we need to assess our savings, investments, and pension plans, seeking to optimize our resources for the years ahead. Some of us might consult with financial advisors. We should develop a budget, and explore opportunities for passive income streams, ensuring a comfortable retirement back home.

Building Bridges 

Returning home after years abroad entails more than just a change in geography – it necessitates reconnecting with loved ones, communities, and a nation transformed by time. We need to build bridges, nurture relationships from afar and lay the groundwork for a seamless transition. Invest time in strengthening familial bonds, participating in community initiatives, and reacquainting ourselves with the cultural and societal shifts awaiting our return.

Embracing Change 

Transitioning from the hustle and bustle of overseas life to the tranquility of retirement presents its own sets of challenges. We will grapple with the prospect of a slower pace, redefining our identity beyond the confines of our profession. Yet, we approach this period of change with resilience and optimism, embracing newfound hobbies, passions, and opportunities for personal growth. Whether it's pursuing entrepreneurship, engaging in volunteer work, or simply relishing the joys of family life, they find fulfillment in the richness of each moment.

As retirement beckons, we contemplate our legacy – not merely in terms of financial bequests but in the impact we've had on the lives of others. We reflect on the values instilled in our children, the lessons learned by our peers, and the contributions made to our communities, both abroad and at home. Our journey transcends borders, leaving an indelible mark on the hearts and minds of those we've touched along the way.

The road to retirement for an OFW is paved with challenges, choices, and moments of profound reflection. As we prepare to bid farewell to the life we've known abroad, embark on a new chapter filled with promise, purpose, and the enduring legacy of our journey. Though the path may be uncertain, our resolve remains unwavering – for in the heart of every OFW lies the courage to navigate change and the resilience to embrace the future with open arms.

Above is a short video I made regarding the launching of short selling (shorting) at the Philippine Stock Exchange. Subscribe to the Retire Rich channel for more follow-up videos regarding this topic.

I started this blog in 2012. My purpose was to document my journey as an OFW in this country and to improve my writing skills. Well, the irony is, I seldom write about my stuff as an OFW. Maybe because I value my privacy so much (masyado lang talaga akong mahiyain). Instead, I posted topics about announcements that would interest OFWs in Kuwait. At least, I still did not alter my second purpose--to improve my writing skills.

I completed a bachelor's degree in Marine Transportation. I was not able to get a job as a seaman. I ended up working in a supermarket--a job that gave me the opportunity to work in Kuwait (The Sultan Center). I worked there for three years. It was a tough job (ambigat ng mga dinidisplay ko noon gaya ng bottles of drinking water). Although I'm supposed to be a seaman (my first dream), which I gave up, it was my second dream to work in an office. I never give up on that dream. While working as a stockman at the Sultan Center, I studied a 2-month secretarial course at ICSA. 

In 2010 an opportunity knocked for an office job. I've got it because I'm ready. Finally, I achieve my dream of having my own office table, a chair, a land phone, and a computer provided by the company. Well, while it is tough carrying heavy items to store in the warehouse as a stockman, it is also very tough for me to compose a short email to my boss and colleagues. It took me hours to compose a simple email. Through this blog, I was able to hone my skills and confidence in writing. 

In my pursuit to improve my writing skills, I stumbled upon WordPress and then Blogger. These are free platforms to create websites or personal blogs like this. From just writing, I also learn how to set up websites. It includes website designing (HTML and PHP coding), domain registration, hosting management, etc. 

In order to enhance my blog posts, I need to upload photos. Well, improving my writing took me to photography. In 2011, I bought my first DSLR (Canon 1100D) which led me also to learn photo editing, and graphics design in Adobe Photoshop and later on Canva. 

With the skills I learned, I was able to monetize them through AdSense and affiliate marketing. 

Book title: A Beginner's Guide to Day Trading Online

Author: Toni Turner 

A Beginner's Guide to Day Trading Online by Toni Turner is a comprehensive introduction to the world of day trading. It is one of the few books I read in early 2019 when I decided to learn stock trading. This book is ideal for those who are new to day trading and are looking for a step-by-step guide to get started. Yon nga lang ang mga chart samples at mga financial market na binabanggit sa librong ito ay mga nasa US market. Pero as we all know naman, pagdating sa technical analysis eh kahit saang financial market ay puwede mo namang gamitin. Sulit pa din yong mga matutunan mo sa librong ito.

The author, Toni Turner, has over two decades of experience in day trading and has successfully traded in various markets. She shares her knowledge and expertise in this book, providing readers with valuable insights and practical tips for navigating the market. Bawat topic ay makukuha kang mga "hot tips" na puwede mong maapply sa iyong mga trades. 

The book covers a wide range of topics, including the basics of day trading, trading strategies, technical analysis, risk management, and much more. It is written in a clear and concise manner, making it easy for beginners to understand complex concepts. 

One of the standout features of this book is the author's emphasis on the importance of discipline and emotional control in day trading. She stresses the need for traders to have a solid trading plan and stick to it, even when the market is volatile.

The book also includes numerous charts, diagrams, and examples to help readers understand key concepts. There are also quizzes and exercises at the end of each chapter to reinforce learning and help readers apply what they have learned.

Overall, A Beginner's Guide to Day Trading Online is an excellent resource for anyone looking to start day trading. It provides a solid foundation for understanding the market and developing successful trading strategies. The author's expertise and practical advice make this book a must-read for anyone serious about day trading.

Paano nga ba mag invest sa stock market? In this video guys ay ituturo ko sa iyo kung paano at ano nga ba ang pinakamabilis na paraan para mag invest sa Philippine Stock Market? Uulitin ko, paano at ano nga ba ang pinakamabilis na paraan para mag invest sa Philippine Stock Market? So, stay put and dont click out.

Hi guys, salamat sa pag babalik mo sa channel ko, at kung ikaw ay bago dito ako nga pala si Rey isang OFW and in this channel I documented my journey towards my goal which is to retire rich because, I believed that we, the working class, deserved to retire rich.

Let's get started, paano at ano nga ang pinakamabilis na paraan para makapag invest sa stock market?

There are 3 basic things to do bago ka mag invest sa stock market. Let me discuss number 2 and the number 3 and then babalikan natin ang number 1 later in this video dahil yon ang pinaka importante.

Number 2, open a Philippine bank account. Uulitin ko, open a Philippine bank account. Ngayon kung meron ka ng existing bank account alamin mo kung ang banko ba na yan ay merong bang online banking at meron ba itong online trading platform.

For your information, ang BDO at BPI ay parehong merong online banking at online trading platform. Ngayon kung ang existing bank account mo ay other than BDO and BPI, pakitanong na lang ang bank representative ninyo kung meron ba itong online banking at online trading platform. 

Para naman sa mga walang bank account na nasa Pilipinas, magpunta lang kayo sa pinakamalapit na banko sa inyong lugar. I suggest you BDO or BPI. Disclosure lang guys, hindi po ako sponsored ng BDO at BPI. Why I suggested these banks epecially BDO dahil ito ang ginagamit ko at ito rin ang gagamitin ko as an example sa video na ito. 

Para naman sa mga wala pang bank account na mga OFW napakadali lang mag open online. 

So, ito na ang sitwasyon natin ngayon, it is either meron kang existing bank account or nakapag open ka na ng BDO bank account via online.

Number 3, Enroll your bank account sa online banking. Paano ba mag enroll, napadali lang din. Again ang example natin ay ang BDO. Since nakapag open ka na ng account online. 

I want to remind you na please lang bago ka mag invest aralin mo muna ng maigi ang gagawin mo dahil pwedeng kumita ng limpak limpak na salapi sa stock market pero pwede ka rin malugi ng sangkatutak na salapi pag hindi mo alam ginagawa mo. 

So balikan lang natin ang tanong kanina, paano at ano nga ba ang pinakamabilis na paraan para makapag invest sa stock market? Sabi ko kanina 3 basic steps lang gagawin mo and we already tackled 2 steps. 1, is opening bank account and then number 2 is enrolling your bank account to online banking and then use the same log in details in signing up the BDO online brokerage at ang number 3 or dapat talaga number 1ito eh. Ito dapat ang uunahin mo. As i Said, ulitin ko uli, aralin mo muna ang stock market bago ka mag invest. Napakadali lang mag open ng brokerage account di ba?

And the best way to learn is to read books, so that's why I have all these books guys and if you are interested to know kung ano anong mga libro ang binabasa ko I will leave a link in the description to all the books I've read to learn the investing and trading in the stock market. Thanks for watching and if you enjoyed the video please like and share and consider subscribing for more videos like this. Bye!

If you want to learn about stocks trading, dapat aralin mo muna. Isa sa mabisang paraan para matuto is to read books. Para sa akin ha, mas madali kong matutunan ang isang bagay pag binasa ko. However, most of the technical analysis books were written in English, at US market ang mga studies at examples. Kaya mahirap maka relate pag sa Philippine stock market ka nag trading.

Kaya mas gusto kong basahin itong libro na isinulat ng Traders Den dahil: 

Number 1 -  Taglish. So mas madali kong maintindihan ang mga technical terms.

Number 2 - Ang mga formula ng indicators ay malinaw na pinapaliwanag. Malalaman mo kung saan nanggagaling ang mga values ng mga indicators kagaya ng RSI, MACD at iba pa.

Number 3 - Meron din itong kasamang mga trading strategy. At ang bawat strategy na itinuturo ay may malinaw na entry at exit.

Yong ibang strategies na nandito sa libro na to ay meron akong tuturials paano siya gawin. Kagaya ang CALMA and MAMA strategy. In fact, CALMA strategy ang paborito kong gamitin dahil swak yong time frame nito sa akin. So, pwede mo ring hanapin dito sa channel ang mga strategies na yan.

At kung gusto mong e check ang libro na to, check mo lang sa link sa baba.

And pa share naman sa comment section kung ano yong paborito mong libro related sa stock market and stocks trading. Para mabasa ko naman.

I know a strategy that will provide a guaranteed return of 6% per year. Type "How" in the comment section. Wag mong ismolin ang 6%, it's the power of compounding interest and time that matters.

In this post, allow me to discuss some of my other sources of income. Not to brag or anything, but to give you an idea of possible ways to earn extra income while working as an OFW or in the Philippines.

Let's begin.

My first source of income is carpooling or transportation pooling. If you have a vehicle such as a motorcycle or a car that you use to travel from your home to work, you can talk to your co-worker who commutes and ask if they want a ride with you in exchange for a reasonable fee.

Since you're already driving to work, why not take someone with you and earn extra money? As long as your co-worker lives or works along the way, there's no inconvenience for you to pick them up and drop them off.

This arrangement benefits both parties as your co-worker can save money on transportation costs, and you earn extra income to buy gasoline or maintain your vehicle. If you don't have a car, you can still save money by riding with someone who offers a lower fare than the actual transportation costs.

In my case, I have two co-workers who live in the same area as me, so we share the transportation costs. They're happy with the arrangement since they save money and feel comfortable since there are only three of us in a five-seater vehicle.

My second source of income is dividends from stock market investments. Apart from stock trading, I also invested in preferred shares to generate fixed dividends. Preferred shares are an investment instrument that is cumulative, non-voting, non-participating, non-convertible, redeemable, and peso-denominated.

This publicly traded instrument can be purchased at a higher or lower price than its redeemable price, depending on the market price at the time of purchase. A quick tip is not to buy when the price is too high compared to the redemption price. It's better to buy below the redemption price. Unlike common shares, preferred shares have fixed dividends usually paid every quarter. Additionally, the company can buy back or redeem these shares on a specific date stated in the offer supplement of the issued preferred shares.

This means I can hold onto my preferred shares until the company redeems or buys them back at the redeemable price on the specified date. While waiting, I receive a fixed dividend every quarter. The good thing about this is that there's a dividend rate step-up in case the company decides not to redeem the shares on the optional redemption date, which means the dividend rate adjusts according to the offer supplement.

In summary, after purchasing preferred shares, I receive a fixed dividend rate usually paid quarterly until the company buys back or redeems the shares.

I learned most of the skills in stock investing from the book "How to Make Money in Stocks" by Willian J. O'Neil. This book is a must-read for anyone interested in investing in the stock market regardless of your level of experience. It has a clear and concise investing strategy that has been proven to be successful over time.

My third source of income is dividends from common shares. Dividends from common shares are usually not regular and are based on the board's decision of the company. The dividend rate is usually not fixed. Most of the dividends I receive are from stocks in my long-term investment in MARGE. MARGE or Mytrade Affordable Retirement Guide is a program by Mytrade for people who want to invest in the stock market for a long-term period. Mytrade will guide you on what stocks to buy, hold, or sell.

My fourth source of income is Adsense. Adsense is a platform used by bloggers and YouTubers to earn money. Around 2011, my Adsense account was approved and verified by Google. Since then, I've been earning through my blog and YouTube channel.

That's it for my sources of income. I hope this gives you an idea of how you can earn extra income too.

I went with my friend and we make a video and posted it on my channel. There are tons of old beautiful cars on that show. From the ultra-popular beetle Volkswagen, we called it "Bao" in our local dialect, which means turtle. 

Enjoy the video. 

When you are monitoring your watch list for a potential entry signal regardless of which setup you used, there's a possibility that you will enter at a price other than the end-of-day price or EOD price, even if the trading setup or the system or the strategy's rule is to enter at EOD. If you use the MAMA strategy, why the heck you entered before EOD?

This happens most of the time when you are opening your broker account before 2:45 PM. You click the enter button when you are so afraid that the price might go up without you on board, especially if the buy signals already showed up on the chart. You are just waiting for the closing price, but why can't resist you entering before EOD which is a violation of your strategy rule.

Then after entering, you are so happy because the price started going up and moments thereafter you start celebrating and starting believing how brilliant you are for entering early. But at the end of the day, the price went down a few points below your entry point. Then you start banging your head because you are setting on a 3 percent loss already while waiting for the next trading day.

During the night you are already restless, thinking about your position and bias started to cloud your mind. You are telling yourself to wake up early and I should monitor this trade because once it goes down another few points then it will hit my 5% risk tolerance so, I need to get out of the trade.

This feeling of restlessness could have been avoided if you waited for the EOD for your entry. You could have peace of mind thinking that a full 5% drop will get you out of the trade whereas entering early a 2 percent drop will hit your stop loss.

Even if we flip the scenario, let's say you entered early and the EOD price was 3% above your entry point. Then you sleep that night thinking very positively about your position. This is also dangerous because you are already biased even before the market opens for the next trading day. What a trader must attain is to have a neutral mind while monitoring your open position during market hours.

That's one of the advantages of entering or buying at EOD.

That answers the question as to why you should enter or buy at EOD.

But the next interesting question would be how you enter at EOD?

Most newbies find it difficult to enter EOD. They end up entering their bids but were not filled because they don't understand how the closing price works.

Well, I will try to show you also how to do that, but before that, if find this video helpful give it a thumbs up, by hitting the like button, share this video with your friends, and if you are new here, consider subscribing if you haven't already, for more videos like this.

How to enter EOD? Please click the video below: