My brother and I are on a mission to prepare our respective last will and testament once we have the opportunity to go home in the Philippines this year. It is one of our priorities.
Few years back, the idea of last will and testament is really farfetched. In our culture such thing is only for the affluent society but when I started attending financial literacy this year I learned its importance especially for individuals who have dependents.
Honestly, I do not have many assets but recently I started investing small amounts in mutual funds and stocks. Really, the amount I am investing is very minimal because of my current financial obligations. I am still trying various means to increase my cash flow to be able to invest more.
Anyway, I learned that in investment there are no beneficiaries unlike with insurances. Of course, I do not want my hard earned money (even it is minimal) to go to the government if ever I will die. Although it can be returned to your family, it will be subject first to court proceedings which for sure will take time.
My long term goal is to invest for my child’s college education and for our (hubby & I) retirement. If ever something happens to me, that goal should serve its purpose. Therefore, I have to ensure that it is written in black and white for security purpose.
Have you experienced preparing last will and testament? Has it been useful to you and your family? Feel free to share about it..
I spoke to my old friend Mylene last month before she left the country to venture new opportunities in Doha. She was occupied in her last few days in Dubai because of her police clearance.
Honestly, I was a bit surprise upon knowing this. Why on earth she needs a police clearance? Actually she got this idea from our ex-colleague who is now working in Cambodia. Our ex-colleague was one of our Chefs in the hotel where the three of us used to work. Years later, our ex-colleague left Dubai and moved to Cambodia for a better post in an international hotel brand.
Earlier this year he was applying for a job opportunity outside Cambodia and he was asked to provide a police clearance from Dubai. So my friend Mylene processed it and she did the same thing before she left UAE for good.
This idea is really a bit strange for me. Quite new in fact. But later, I realize that perhaps it is a good idea. Why not take a police clearance if you are leaving the country for good? It will cost you only AED 200 and somehow it will give you peace of mind that you are leaving the country without any pending cases or fines.
If you are the kind of expat (here in Abu Dhabi) who does not have any liabilities with the banks, then you might not be interested about this idea of obtaining police clearance.
Personally I like this idea and I will be doing the same once I decide that I am leaving this country for good.
What do you think of this idea? Care to share..
I used to keep journals until my cousin found and read few pages of it. After that incident, I stopped keeping my journals because of fear that someone will discover and read it. For me, journals are haven of my deepest thoughts and emotions thus it is important that I keep it secure as it reveals everything.
Nowadays I still write my journals but online. Although sometimes I find it inconvenient especially when I am away from my computer or laptop, thus I have my occasional loose papers here and there.
Most of my journals now are in a form of prayer. I write first thing in the morning with a cup of hot coffee and an instrumental music. Of course, I have those days too that I wake up late and end up not writing my journal.
I have been keeping my journal in GoogleDoc but yesterday I found a new online journal tool called Penzu. I already wrote my first entry and I enjoyed using it. You can register and use it for free. If you wish to have more features, then you can pay for upgrade, the “pro” version.
I had tried few online journals before. Some needs to be downloaded in your computer which has a disadvantage because it limits your access. You cannot journal unless the software is installed. I like the web based online journals because its accessibility is easier as long as there is internet connection.
What about you? Do you keep a journal?
I was reading a newsletter “The Hidden Cost of Having a Job” yesterday from one of the financial blogs that I subscribe. It was not only insightful but thought-provoking too. I ended up sulking and asking myself.
When will I have the freedom to fire my boss?
When will I be financial independent so I can go home for good and spend quality time with my little son and aging Mum?
When will I stop living at the mercy of my employer?
Yesterday my Mum, who was taking care of my six-month old son back home, was sharing how eager my son was with his first consumption of solid food. It was only one of the milestones that I am missing as my son is growing and learning all the “firsts” in his life.
All I could do was envisaged the words (every word) that my Mum shared about his first solid meal. I attentively listen to every word that comes out from my Mum or Sister as they account my son’s progress. I imagined the way he tasted his first soup. I had a sleepless night thinking how my son’s first airplane trip was.
It is sad and sometimes unknowingly depression creeps in.
Oftentimes to pacify emotional and psychological torture I am going through because of being away from my little boy, I try to look at the situation on a brighter side.
I am drawing strength and anchoring my motivation from my not-so-favorable-situation to get out from the corporate world and to thrive as entrepreneur/investor. Honestly, I don’t dream a fancy car and house, a functional house with high speed internet will do. A car in good condition will be a bonus.
The answer to all of my questions above boils down to one thing – financial security – and I know that it is only a matter of time that I will be financial independent. It may sound too optimistic but it helps me to get going.
It is quite odd but I abhor social functions related to my job. Actually, it is better for me to spend my time with my friends and family than flashing my smile and cordiality to strangers.
Anyway, I would say that I have been successful in escaping these social events but last week I decided to attend. It would be my last event because I resigned already.
It was a formal event and we were required to dress up. Thus I was compelled to buy a black cocktail dress. In addition to that, I had to spend for the accessories and to the beauty saloon.
Honestly, I was really stressed with that event and I detested it more because I shelled out a good amount of money. I could have added that amount to my investment.
Indeed it was a nightmare of expenses for a one night event.
I was ecstatic yesterday. God is really good and his great providence never fails. Yesterday I met my old friend, Ruby and we had a dinner. It has been awhile since we last met.
Early this year she decided to leave her unfulfilling and stressful job. She took the risk without any job offer at hand and I really admired her when she took that decision. Though she does not have obligations because she is single, but still, considering that we are here in UAE where having a job means having an employment visa.
Anyway, I am glad because she already found a job and her employment visa is on the process already.
Then later in the evening too I received a call from Qatar. Another good friend of mine, Mylene, who also heaped enough courage to leave the job (without any job offer at hand) she was not happy at all .
So last week, she flew to Doha to search for a new job and yesterday she shared the good news. She found already a job and her visa is on the process too.
I am really happy for both of them. They succeed in taking a daring decision to change and to get rid of their stressful job.