How a Seafarer Could Achieve Financial Freedom?
I have a friend who has become a fellow personal finance advocate.? We often catch each other online, exchanging stories and ideas about our lives, dreams, faith and money.? He is about to return home to his beloved wife and children next week.? I am excited to see them again, and join them once more in faith when they come to Feast PICC.
Here?s a picture of my friend, Patrick Linsangan, with his wonderful family. =)
Patrick Linsangan ? a family man, an engineer by profession, a teacher ? is not limited by these roles.? I find it amazing how he has become very passionate in encouraging his fellow seafarers to take full and healthy control over their finances.? He conducts financial planning seminars?on board! Voluntarily! For free! Just to educate and encourage his co-workers to aspire for financial freedom.
He has told me his story, and have asked me to share it to you guys in the hopes of reaching more men and women through this writing.
Read on?
I am an officer on board a ship for more than seven years, earning a good amount of dollars.? I thought I was doing great financially, able to provide more than comfort for my family.? I never had any idea that this comfortable life can only be temporary, until I experienced being jailed in Madrid, Spain, because of lack of documents.
I wanted to sue my manning agency, for their neglect and improper handling, but decided not to.? It will only cost me much money.? I decided to resign and find another agency instead.
While in line and waiting for my application, conversations with my fellow seafarers revealed how lack of financial discipline and planning left us with only little savings within months after returning home.? Perhaps, too much confidence about tomorrow?s future is our enemy.? They have been waiting for a year for their next assignment, a year of no work, a year of no income for their families. ?
Amidst the frustration of my fellow applicants, I realized I can?t continue being out of job for months.? I did earn a lot of money from my most recent assignment, but that day, all I had left was enough to provide for my family?s needs for a few weeks.
If I stopped sailing now, how long can my family survive?
I started asking myself that question and it got me worried.? We can?t live for a year with the little savings I had.? I earned so much, but haven?t saved enough to lessen my fear of not having a job.? I had to accept a part time job offer, against my will, just to feel secure of my ability to put food on the table in case my waiting period lengthens.
Trade Offs
The time I was looking forward to, to spend with my kids after six months of not being with them, was replaced by working hours.
We managed to get through, until the day of my departure.? After four months of being home, I had to leave again.? I was saddened by the sight of my wife and my children crying as I left.
Just like all other Filipinos working overseas, I work to buy a house, a car, send my children to good schools and fund businesses to provide for our retirement.
But then, after all these, the nights I spend alone in my small cabin, away from my family, is my dollars worth.? People see dollars in us, while we experience an isolated life in the middle of the waters.? All these hardships, I choose to make temporary.? I have set the day when I can clearly answer the question ?? If I stop sailing now, how long can I provide for my family?? How long can I survive?
Work In Progress
All these unpleasant experiences helped me.? These forced me to change the way I handle my income.? I made a conscious effort to study personal financial management and investments.
It helped me get through the years of consistently paying my debts while saving for emergencies.
I started making my own regular investments in various financial instruments or products, including life insurance, stocks and mutual funds.
I am more confident now, because I am doing the best that I can to create a healthy financial future for my family.
Vision for All Seafarers
I now share my faith and the disciplines I have learned in my quest for the best answer to the question ? If I stopped sailing now, how long can my family survive?
I conduct free financial planning talks on board, to different ranks.? Encouraging my fellow seafarers to save and invest for their future isn?t easy.? Most of the time, I receive negative responses and irrational comments, but I do not stop because I could see my vision slowly becoming whenever one of my listeners show interest.
I hope and pray that through my efforts, a new batch of Filipino seafarers will gain financial freedom at an early age.? My dream is for us seafarers to reach financial independence at the age of 40 or 50.? We won?t have to leave our loved ones anymore.? We?ll start to live real life, with our loved ones, because a life lived dictated by our salaries is not life at all. ?
Time will come when Filipinos no longer need to leave this country to look for better opportunities abroad.? This is the dream that God has planted in my heart.
It is not too late nor too early for each one of us.
If you stopped working now, how long can you survive? How long can your family survive?
Take charge today!
I hope that this writing has served its purpose.? May we all be encouraged to take action, to take full responsibility just like he did, to change our lives from the good, to the better and eventually for the best.
?This is a guest post by Precious Mary Eugenio.?She currently provides accounting management and consultancy services to an animation studio in Pasig City and a Sun Life Advisor. She is not your regular career woman. She is adventurous and intentional in creating the kind of life she wants and she believes she deserves.?You can get in touch with her at pmaeugenio@yahoo.com
bobby abreu 2012 draft colt mccoy arbor day mike adams janoris jenkins john edwards trial
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.