We don't know much about money hence we all spend what we got. One-year hard-earned dirhams easily swept by a one-month vacation back home. Pag balik negative pah, may utang pa yung credit cards. Then you will realize that after 10 or 15 years you go back  to the same situation you were in before working abroad. Only this time, matanda ka na and opportunities around you becomes harder to find.

By the way, there are no get-rich quick scheme that works. Pyramiding , multi-level marketing and alike are nothing new.  Don't hope too to have your million dollar Dubai Duty Free or a National Bonds sweepstakes, probabilities are like LOTTOs in the Philippines.

There are sure fire way to earn your millions. Not quick , slow but sure. It is the day you start earning is the day you must start investing. By investing part of your earnings from the start gives you a huge advantage. Time is money. Be it in shares, property or as recurring fixed deposit, compound interest works only with time.

Take a safe, tax free Public Provident (retirement) Fund account or a Recurring Deposit Account with a good bank, where you are allowed to invest Pesos 70,000  (app. 530 dhs./month)  a year at 8% interest.

My case, I have started with Mutual Fund. I'm more of a conservative type and went for a safer haven with Philam Asset Management. I am not advertising them, you can find other investment vehicle but the point here is you should save. Not in the bank, since interest rates are only 3-4% while inflation is  at 7%.

Starting late at age 40 and investing Pesos 70,000 a year till you retire at 60 will give you Pesos 3.785 Million on your investment of Pesos 1.4 million.

However, if you started at age 25, soon after you started working and invested Pesos 70,000 annually until you retired, you’d have Pesos 14.0 million on your investment of  2.45 million i.e. just 1.05 million more than the person starting at age 40.

That’s the magic of compounding – more time, much more money

With improving health care, today’s young people can expect to live longer than previous generations. This means a longer retirement. So get the time you now have on your side to work and start investing as early as possible