Transcript of EP5WELCOME TO RETIRE CONFIDENTLY!HI, IT’S IMELDA AND IN THIS EPISODE I WILL BE SHARING WITH YOU WHY FINANCIAL LITERACY IS IMPORTANT.TO ME FINANCIAL LITERACY IS IMPORTANT BECAUSE IT CHANGED MY LIFE. IT CHANGED MY DIRECTION. IT WAS THE REASON WHY I STARTED TO MAKE A DECISION TO STOP BEING AN EMPLOYEE AND TO START LEARNING THE SKILLS OF AN ENTREPRENEUR. IT MADE ME AWARE OF WHAT I SHOULD BE DOING AND WHAT I SHOULD NOT BE DOING IN ORDER TO BECOME FINANCIALLY FREE. AND WHY IS FINANCIAL FREEDOM IMPORTANT? BECAUSE IT ALLOWS US TO DO THINGS THE WAY WE WANT IT DONE AND IT ALLOWS US TO LIVE LIFE ON OUR OWN TERMS AND NOT BEING CONTROLLED BY A COMPANY OR A BOSS WHO WILL TELL US WHEN TO REPORT TO THE OFFICE AND WHEN TO GO HOME. THE COMPANY CONTROLS HOW MUCH WE CAN EARN EVERY MONTH AND THE COMPANY CONTROLS WHEN TO GO ON VACATION. AS AN OVERSEAS WORKER BEFORE, I GOT TO GO HOME ONCE A YEAR PAID FOR BY THE COMPANY, OTHER PEOPLE GET A PAID VACATION EVERY 2 YEARS. IN OTHER PLACES THE COMPANY DOES NOT PAY FOR THEIR VACATION, SO THEY DO NOT GET TO VISIT THE PHILIPPINES EVERY YEAR. NOTHING WRONG WITH THIS IF YOU HAVE SETTLED FOR IT AND HAVE ACCEPTED IT TO BE YOUR SITUATION. BUT TO ME, NOT BEING ABLE TO CONNECT WITH FRIENDS AND FAMILY BACK HOME IS SOMETHING SAD, BECAUSE THINGS ARE CHANGING ALSO OVER THERE, OLD FOLKS ARE GETTING OLDER AND SOME OF THEM DYING WITHOUT US SEEING THEM. IT’S ALSO SAD THAT WE DO NOT GET ENOUGH TIME TO SPEND WITH THEM AND LEARN WISDOM FROM THEM. ONE OF MY MENTORS SAID THAT WE HAVE TO SPEND MORE TIME WITH OLD PEOPLE BECAUSE WE CAN LEARN A LOT FORM THEM FOR THE BETTERMENT OF OURSELVES, OUR FAMILY AND OUR COMMUNITY. HE ALSO SAID THAT THE BIGGEST DEBT THAT WE OWE IS NOT TO THE BANKS WHO GAVE US LOANS, IT IS TO OUR PARENTS AND GRANDPARENTS WHO DID EVERTHYING THEY CAN TO GIVE US A GOOD LIFE AND LAUNCH US TO WHERE WE ARE NOW. WE SHOULD NOT ABANDON OUR PARENTS AND GRANDPARENTS. MAYBE THEY COULD NOT GIVE EVERYTHING WE NEEDED BUT PLEASE UNDERSTAND THAT IT WAS ALL THEY KNOW AND WHAT THEY CAN AFFORD AT THE TIME THEY WERE RAISING US UP. I AM NOT IN DENIAL AND THEREFORE I SAY THAT THIS IS NOT HAPPENING. MONEY CANNOT REPLACE TIME, WE CAN SEE HOW FAST OUR CHILDREN ARE GROWING. WE HAD NO CONTROL OF OUR TIME. OUR COMPANIES AND THE INSTITUTIONS WE ARE WORKING FOR CONTROLLED US IN EXCHANGE FOR THE SALARY THAT WE RECEIVE. BUT WE ALSO HAVE TO QUESTION, HOW IS IT THAT THINGS ARE NOT CHANGING EVEN WITH THAT SALARY COMING IN EVERY MONTH? WE ARE STILL SHORT OF MONEY AND STILL CANNOT AFFORD TO RETIRE WITH CONFIDENCE. WE ARE STILL WORRIED OF WHERE TO GET MONEY AFTER OUR WORKING DAYS OUR OVER. AND COMPANIES HAVE RULES TO PUT YOU ON RETIREMENT AUTOMATICALLY WHEN YOU REACH THE AGE OF 60 AND MAYBE 70 IN SOME COUNTRIES? BUT I ALSO AGREE WITH MY MENTOR, PEOPLE IN THEIR 60S OR 70S SHOULD NOT BE WORKING ANYMORE. THEY SHOULD BE TAKEN CARED OF AND NOT KEPT AWAY IN HOMES FOR THE AGED. THEY LOOKED AFTER US, WE SHOULD LOOK AFTER THEM. SOMETIMES WE SUGARCOAT THINGS, WE SAY IT IS GOOD TO KEEP THEM IN HOMES FOR ELDERLY, BECAUSE IT IS MORE PRACTICAL, BECAUSE YOU HAVE PROFESSIONAL CAREGIVERS WHO CAN TAKE CARE OF THEM. WHEN WE SAY IT IS MORE PRACTICAL WE ARE ALSO SAYING WE CANNOT AFFORD TO GET PROFESSIONAL CAREGIVERS TO CHECK ON THEM IN OUR OWN HOUSES. THIS IS SOMETHING I PERSONALLY BELIEVE SHOULD BE RE-EXAMINED. I AM SAYING THESE THINGS WITH DUE RESPECT TO OTHERS WHO MAY HAVE A DIFFERENT OPINION. I APOLOGIES, I AM JUST SAYING MY OWN TRUTH AND I RESPECT THAT, IT MAY NOT BE YOUR TRUTH. BUT I PERSONALLY FEEL THAT I WANT TO BE IN MY OWN SON’S HOUSES WHEN I GROW OLD RATHER THAN BEING LEFT AT HOMES FOR THE ELDERLY.WHEN I WAS IN SCHOOL IN MY YOUNGER DAYS, I ALWAYS THOUGHT THAT GOOD GRADES WOULD AUTOMATICALLY SET ME UP TO BECOME RICH WHEN I GROW UP. BUT AS OF WE HAVE EXPERIENCED AS A FACT NOT ALL OF OUR CLASS VALEDICORIANS OR TOP TEN LISTERS HAVE BECOME FREE. SO WHY IS IT SO? FROM MY OWN PERSPECTIVE, THIS IS BECAUSE WE WENT TO SCHOOL FOR ACADEMIC LITERACY BUT NOT FINANCIAL LITERACY. IN SCHOOL WE WERE LABELLED AND JUDGED BASED ON OUR GRADES AND ACADEMIC PERFORMANCES. SCHOOL FOCUSED ON OUR MATH AND SCIENCE GRADES BUT DID NOT FOCUS ON OUR EMOTIONS AND INDIVIDUAL STRENGTHS WHICH ARE DIFFERENT FROM PERSON TO PERSON. WE WERE TAUGHT GOOD VALUES, BUT WE DID NOT STRICTLY PRACTICE WE DID NOT APPLY GOOD VALUES, THAT’S WHY THERE IS BULLYING EVEN IN SMALL CHILDREN. CHILDREN ARE CHILDREN, HOW THEY ARE TREATED AT HOME, THEY WILL DO THE SAME IN SCHOOL. ANOTHER MENTOR TAUGHT ME THIS WISDOM, HOW YOU DO ANYTHING, IS HOW YOU DO EVERYTHING. IF THE KID IS A BULLY AT A YOUNG AGE, HE WILL BE A BULLY AT A LATER STAGE, UNLESS THE PARENTS DO SOMETHING TO CORRECT IT. WHY DO I BELIEVE THAT BULLYING IS NOT RIGHT? BECAUSE IT DESTROYS ANOTHER CHILD, THE ONE BEING BULLIED, AND IT CAN HAVE A NEGATIVE IMPACT IN HIS LIFE EVEN AS HE GROWS UP. AS WE CAN SEE NOW, EVEN THE GOVERNMENT HAD TO INTERVENE TO CREATE A LAW AGAINST ...
