In today’s podcast review, we chatted with an architect bent on designing top-notch buildings and a better financial future for herself. So let’s find out how the keen mind of an architect balance work, life, and the security of her financial future.
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Job Security
Architect Irene Tayamora learned about the Financial Independence movement in 2018 and started her FI journey the year after. She came across a talk given by Mr. Money Mustache, which made her contemplate her financial standing and life.
Stress and rigor, a constant in her work environment, had made her ask questions about how she spent most of her waking hours, weekends, and holidays in the office in the name of a steady paycheck. She realized that leaning solely on her employment to fulfill present and future financial stability is risky. She remembered how the Great Recession of 2008 in the U.S. hit the building industry in the Philippines halfway across the globe. Colleagues, including herself, were laid off due to severe budget cuts.
She questioned the sustainability of working at the expense of your health and happiness. She pondered a future where her life could be different. Finally, she recognized that life would nudge you into things, instances, or events where you will say, “I can’t take this anymore.” Her path has never been any clearer after that.
Designing your FI Life
As an architect, Irene is a big-picture thinker. She starts with a vision of a plan that she then constructs in the real world with carefully examined steps. For example, she learned that Financial Independence would give you the power to withstand the instability of your industry’s job market. In the event of widespread layoffs, unfortunate medical emergencies, or if you are highly dissatisfied with your job, a runway is available to you to regroup and rebuild.
She was set up to find the FI movement out of the gate. She was a natural saver, but she constantly wondered to what extent. It did not sit well with her that she had to work without a clear goal for the rest of her life. So, she read books like Rich Dad, Poor Dad, and texts by Francisco Colayco but found the concepts too broad for her to apply. She is looking for concrete steps that could be done right now to take her a step closer to the life that she wants.
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Irene sought to establish a plan to leave a life tied to her desk, a personal financial blueprint. The first step was to build up an emergency fund, so she saved the raises she got by not increasing her lifestyle cost. It would let her sleep peacefully at night, assured that she could weather the volatility of the job market if it came crashing down again.
Investing is the next step in her financial blueprint, but as for most first-time investors, fear made her reluctant. So, she put money in very conservative accounts, from time deposits and money market accounts to bonds, until her risk appetite grew to stock investing. Her advice to those who are also hesitant to invest is to dip their toes in the water and not do anything drastic. Of course, you can continually educate yourself on how to react to the stock market’s mood swings, but you are never sure how to respond to your portfolio losing value unless you experience it. So, know yourself because it is a long game.
Sandwich Generation
Irene never forces her financial decisions on her close family and friends. She wants to teach the value of sound financial decisions by example. She is always ready to share her knowledge when they ask her for advice. One excellent quality Filipino families have is that we keep all members from being left behind. We help each other the best way we can.
She introduced us to Sandwich Generation, which is to support children and aging parents simultaneously. We see this setup in most Filipino households. Sometimes, a variation includes grandparents and grandchildren (Club Sandwich Generation) or any other relatives (Open Sandwich Generation).
As with most things, the poison is in the dose. There are instances when supporting your family is no longer helpful but enabling. Grown children and relatives fail to develop the values that make them contributing members of society because all their needs and wants are handed to them for nothing. Our challenges shape us to become creative and ultimately nudge us to succeed. Helping should be done for its own sake, but would it be wiser to teach one how to fish than give one fish for life?
Due to the extent of financing needed to support a large household, can individuals in the Sandwich Generation still reach FI? Yes, but it depends on meticulous planning, and the family needs to be included in the conversation. Expectations and responsibilities must be managed and concerted to reach that common goal together.
We have always advocated knowing your Why of FI early on in your journey. Be as specific as you can. How do you see yourself in X number of years? Break down your goals into bite-size steps that you can start today. Work on building a life that matters to you. Think like an architect and start drafting your personal financial blueprint.
Get in touch with Irene at architect_tayamora@yahoo.com or on Facebook at Irenre Tayamora.
About Us
We are a Pinoy Physical Therapist duo living somewhat unconventional but intentional lives. In this podcast, we want to learn how Filipinos worldwide in different industries and walks of life earn, spend, save, and invest money to achieve Financial Independence.
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DISCLAIMER
We are NOT certified financial advisors, analysts, or CPAs. Investing strategies shared in this article and the website are not financial advice but our opinions for educational purposes only. We want you to treat our content as a preview to do your research so you can make smart financial decisions.
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