HAPPY AND AT HOME (MoneySense: My Money Story)
Posted on November 15, 2007
Filed Under LIFE, Parenting and Family | Viewed 1548 times
Sharing with you a featured article in the July-August 2007 issue of MoneySense (pages 38 and 39).
A mother of seven tells how she accomplished early retirement and what keeps her merry and productive these days.
By Dine Racoma as told to Regina G. Posadas
I retired in October 2006. After 27 years in the corporate world, the last 10 years or so in a fast-paced, stressful, though fulfilling world, interrupted by travels from one part of the globe to another, here I am, in a world completely different – home sweet home, at least for now.
I started off as a medical secretary, then as an executive secretary in one of the subsidiaries of the biggest drug chains in the country. My last 22 years I was an international civil servant – the last 8 a project analyst – in an international development bank with headquarters based in Manila.
Retirement age is 60 in my previous office, but there were a few options for early retirement such as (1) age 55, (2) rule of 70 (age + # of years in service = 70), (3) rule of 80. I availed of option (2) rule of 70. I was then 48 years old, with 22 years in service.
Longing for change
I already had some plans to retire early, but they were not serious plans. I realized there were so many things that I missed in life. Travel during work has been very satisfying (I’ve been to many interesting countries like Bangladesh, Bhutan, Cambodia, Laos, Thailand, Singapore, Hong Kong, China, India, Sri Lanka, Pakistan), but there were times when there was no choice but to forgo birthdays, anniversaries, holidays, family milestones, weekends, even church.
I wanted to spend more time with my family. My kids are growing up – I have one law student (Monica), 1 college (Bernard Alan), 3 high school (Vincent, Angela and Pauline) and 1 grade school (Alan, Jr.). One is already married with 2 daughters (J Angelo). I wanted change and I was inspired by what my eldest son was doing for a living. He is a professional blogger, writer, new media consultant, and a tech evangelist. He works from home. He used to work as an economist at NEDA, then at a private IT firm, before he finally decided to go freelance.
Hurdling financial obstacles
During the early years of my married life, I was not very careful about money. Savings was not part of my vocabulary. I only knew how to spend. It could be because the family has started to grow bigger but the income remained the same or was not really enough. Still, I tried to maintain a comfortable life for my family, to the point that I was so poor once (about 15 years ago), that I had to take all available loans from the office paluwagans to pay off my loans. It’s hard enough to be in debt, but to be in debt to pay off other debts? It’s miserable! Starting off as a small amount, without knowing it, I was in debt many times over. I borrowed money not only from the office salary loan and formal cooperative in which I was a member. I was even borrowing more than what I needed. It was a vicious cycle, really. At one point in time, I told myself, enough! That was the darkest phase in my life. Thank God, I have overcome all of it, but it took a while, a whole lot of determination, a lot of humility, and a lot of sacrifice. I don’t regret any of it though I should have been more careful. I should have exercised some frugality. The experience has made me a better person.
I was able to pay off all my loans through hard work. There were opportunities in my office for special short term assignments in resident missions abroad. I was lucky to get a 6-month posting in China. Part of my per diems and allowances were used to pay off my debts. It was a sacrifice, though, to be away from my family for 6 months with only 2 short visits home in between.
The last 10 years at my office entailed a lot of travel and overtime work. Extra income earned from these travels was all spent on family. For me, it’s family first; my welfare comes last.
Savoring life’s rewards
I would say that my financial situation is better off now than it was several years ago. My former office had an attractive retirement, pension and post-retirement benefits package. I took 50% of my retirement benefits as lump sum and the remaining 50% in the form of a monthly pension. My husband Alan and I are covered with comprehensive medical insurance (lifetime), including my children up to age 24.
Retirement and pension privileges, plus an excellent medical insurance are foundations to a certain degree of financial freedom which I believe I have reached, though I cannot say that I have achieved full financial independence. Maintaining a large family is a big responsibility that my husband and I share. This entails a huge household budget, with education eating up a large chunk of our budget. That is why, on my part, I have not stopped working [for a living].
A typical day for me starts with Holy Mass in the village parish with my husband, at 6 or 6:30 in the morning. During school days, my mother takes care of the children’s food, clothes, and all, while I am relegated to the sides, ensuring that transport is coordinated and trouble shooting in case emergencies pop up in school or in the home front. All the kids are independent, seldom needing help with their homework.
I do my writing and research work in my own time, throughout the day and evening, depending on deadlines. I did not really plan this, but I can say that now, I am doing what I like best—writing. Writing is my passion, be it technical, academic or creative writing. The downside is completing the writing projects at odd hours since most of my clients are US- and Canada-based, and some deadlines are in the late evening to early morning.
Now, with time on my hands, I could do what I want with my schedule, counting some pleasures in life – spa, massage, shopping, movies, going out with family and friends. Life is a continuing learning process. I attend workshops, internet related activities, etc.
Looking forward
I really do not have strategies for investments or savings. I am not yet there. Others may think having a large family is a disadvantage for investments and savings. But I do not mind; the past 27 years have worked out well for me. Now that I have retired, I may have some money kept as time deposits, but nothing very significant in amount. Truth is, I am yet to learn about and earn my millions from these investments.
Are there things I still have not realized? Yes, travel – for leisure this time, with the whole family in tow. I am sure this is coming up. I am really in no hurry.
TIPS FOR A MORE ENJOYABLE RETIREMENT
A blissful life after giving up full-time work isn’t only about having tons of money; it requires the proper mindset as well, says Dine Racoma, who’s been married for 27 years, with 4 sons and 3 daughters, and who has recreated herself into a successful freelance writer, web content provider, researcher, pro blogger and new media adviser after retiring last year. Here’s her wise advice:
Think positively. Most people fear the transition – when in the past one was very busy, was very important in the office, suddenly he finds himself waking up with no activities to look forward to. For me, this is really a wrong notion. Retirement opens new doors – doors to one’s family, self, and to many other opportunities. I wanted to write, that I did through creating my own website, The D Spot (http://dine.racoma.com.ph).
Find your passion. Know what you really want to do with your life. Blogging has made retirement easy for me. Now, I am doing what I like doing most – writing. It’s my passion. In the past, I would write everyday: endless “templated” memos, letters, reports. Now, I am free to write anything that I would like to write about, with no templates, no rules, no boundaries. Now, I am more aware of my surroundings, creating thoughts out of anything interesting that would catch my eye, taking snapshots, scribbling notes which I could eventually shape into the art (yes, I call it an ART), known as a BLOG.
Keep an open mind. Retirement does not mean just staying at home. Life is a continuous learning process. A retiree has all the time in his/her hand for self-fulfilling activities, be they money-generating or not.
Related
- Keeping together ONE big happy family–HAPPY BIRTHDAY DAD!
- About
- P59 from the goodness of his heart–bigger than mine
- D.I.Y. Pampering — is it really pampering?
- Parenting–The risks I took (and continue to take)
- Previous post: 40 Heavenly Days
- Next post: Daughter Monica Now 24!
- More articles at the archives
- Jobs and Business Opportunities for Probloggers @ The J Spot
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36 Responses to “HAPPY AND AT HOME (MoneySense: My Money Story)”
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About Me
Dine Racoma is Sexy Mom, a Filipina doing what she likes best—writing, her passion. She writes freelance, does research, advises on new media, and manages a virtual assistance office for home-based jobs. A mother of 7 (what joy!) foremost, a wife, MIL, grandma to 2 pretty girls and an angel in heaven, sister, daughter, friend. Was in the corporate world for 27 years, the first 5 as Executive Secretary to an affiliate of the country’s biggest drug chain, and the last 22 as an international civil servant in an international development bank with HQ in Manila. Traveled extensively to many countries bringing about rich experiences and lessons learned to share with dear Readers. All these—in The D Spot
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What an inspiring, informational, educational post! Thanks, Dine.
Whoever coined the phrase “the more the merrier” was head on as I look at your family pic!
im inspired tita…
thanks for sharing 
Dine, your story is really very inspiring and so full of honesty. Seldom does one meet a person who can admit to past mistakes and to past misgivings. You have not only owned up to your faults, you have risen from them. And for that you are truly commendable. Thank you for sharing your story. You are truly worth emulating
What an inspiring post Dine. You have been greatly blessed – with a beautiful family, a job that gave you the opportunity to retire early and now to pursue your passion for writing. I wish God will also give me the same in His own time. Yes I agree, work really takes a toll on the family and sacrifices have to be made.
Another inspiring post from Tita Dine!
My original plan was to take up Masscom for college, but my father was against the idea. He told me that I can do the masscom stuff even without the degree so it’s much more better to take a course that is in-demand and that is Info Tech. I think he’s right because I am now planning to do part-time writing gigs for websites. I actually told my grandfather to venture into blogging when he retires too 
Nakakainspire!
this is very enlightening, real and inspiring. i hope i can enjoy when my time comes too. since i married early, hopefully i can retire early, too. Blessings!
Very inspiring! Thank you for sharing your story. It’s such an encouragement. Thank you…
There are so many things to learn from you!
Now that I’m a mom I’m really learning the meaning of the word sacrifice. It’s challenging but worth it!
I admire how you always write from the heart.
hi dine, your story is such an inspiration. apart from having more free time for yourself and for your family, you’re able to do what you love most and that is writing!
[...] Sexy Mom added an interesting post today on HAPPY AND AT HOME (MoneySense: My Money Story).Here’s a small reading:It’s hard enough to be in debt, but to be in debt to pay off other debts? It’s miserable! Starting off as a small amount, without knowing it, I was in debt many times over. I borrowed money not only from the office salary loan and … [...]
Thanks for sharing this wonderful and inspiring article Dine. Surely there is life after retirement, it is a matter of timing and good perspective. Sure, we cannot really plan the exact path to the dream or ideal life we want to have but we have to start taking the right steps to be able to achieve this dream. Thank you.
Hi Dine, you are such an inspiration! Thank you for sharing a part of you. This post gave me some worthwhile thoughts to ponder on.
I am so blessed to have discovered your site. Reading your article Happy and at Home, i can’t help but be reminded of my own story….. longed to retire early and did, searched for something i wanted to do with passion and found it ( my reiki touch therapy) and now having the time to enjoy watching my grandson discover the world around him, and searching still for a lucrative activity that i can do from home that i will enjoy. God has been showing me the way. He pointed me to you. Blessed be.
i take the absolute wisdom you bestow upon us younger ones
good day tita dine!
What a great story Dine. You are blessed to be retired at an early age and enjoying life. Keep on!
I’ll keep in mind your tips.
[...] Sexy Mom added an interesting post on HAPPY AND AT HOME (MoneySense: My Money Story).Here’s a small excerpt:Starting off as a small amount, without knowing it, I was in debt many times over. I borrowed money not only from the office salary loan and formal cooperative in which I was a member. I was even borrowing more than what I needed. … [...]
thanks Dine for sharing this very inspiring post. you know not too many people even here can’t afford to retire. you, however, are one of the few who was able to enjoy early retirement. congratulations!
Dine, SP for sharing. If you want to visit the western part of Austria (20 minutes by car to Switzerland, Liechtenstein and Germany), just call or email me. Our doors are wide open for you (and your whole family). We don’t have 7 guest rooms pero marami kaming sahig, este extra beds.
this is such an inspiring post
i admire you for having 7 children at that and having a fullfilled career..i only have one at the moment but i already feel like i gonna give up most of the time ;-( anyways enjoy this life time vacation you have, you deserve it :-)by the way i discover your blog thru haze, ciao
Aww Dine. Is this the one published in a glossy? It is something to reread and reread some more … especially next year! I am glad you found your place and your piece. There will be more challenges ahead and you’re primed to accept them … with honors. Well done so far. You inspire me.
I meant … i am glad you found your place and your peace. shining place in the dazzling sun.
Thank you for the very inspiring story! lots of Filipinas experience the same problem with debt and money, stories like this help us gain focus on the importance of saving.
very well-written Dine. and many people, including myself, can learn from this wonderful piece.
Thanks for the words of inspiration Mommy Dine
!
Rare story to find ! Wonderful big happy family, congratulations Tita Dine ! What else could you ask for ?
Hi Dine. Sorry haven’t visited in a while. Thanks for sharing this well written post. You are a true inspiration to many. I appreciate the great advice you embarked to everyone. Take care!
Really an inspirational post Tita! Just gotta love your family portrait; one big happy family!
(:
thanks for sharing… you have a wonderful family!
Inspiring
thank you very much, Din for sharing these very inspirational post…..
you are really a good Mom, a good Friend.
thank you for knowing you.
wow, sulit ang pag papawis ni super mom
galeng, ang saya saya!
hello! i’m conducting a research study now as a fulfillment in my course. my study is all about how early retirees cope with adjustment strategies and the sense of well-being. i’ve read your article. and thank you so much! i cited you as one of my reference. hehe!! thank you! i really love your article. hehe!! more power! God bless you!
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