Dr. George S. Chua l March 14, 2023 l Manila Bulletin
According to a 2020 study by the World Bank, the average life expectancy of Filipinos is 71,
which is 2 years below the global average of 73. The same study also shows the average
life expectancy of Filipino males is 67 and females is 76. As a Filipino male, this does not
give me too much time left, so allow me to share life as a senior and give you some tips on
how to buy you a little more time on this world.
As a senior, there are some advantages and certainly a number of disadvantages as well.
Among the advantages are the benefits of a senior citizen discount, preferred parking,
shorter lines and the like. On the other hand, you can feel the onset of age by getting
weaker, being more forgetful, lethargy, the passing of close friends and relatives and of
course retirement and the inability to earn a living.
No one lives forever so perhaps the best alternative is simply to live as long as possible in as
healthy state as possible. The first step is to face the reality that we have gotten old and in
most cases have passed our prime in terms of physical strength, mental acuity and financial
opportunities. While possible, it would be unrealistic to assume that the best is yet to come.
Therefore it is about time to do away with the wishful thinking and face reality.
The first thing to do is to assess your current condition, in terms of your physical, mental and
financial situation. With an honest assessment, you need to plan on how to live within your
means and capability and make the best out of it. Making foolhardy or high risk investments
would probably be not in your best interest specially if you cannot afford to make them.
Expenditures beyond your capability are probably not in your best interest as well, which is
the reason why some people downsize their homes and sell off unnecessary assets, to raise
enough funds to keep themselves within a certain lifestyle they have been accustomed to.
Unfortunately, many people who have been moved into desperation have gambled away
their remaining assets for that last golden opportunity for a chance at winning a lottery that
was nothing more than a Ponzi scheme. Oftentimes, many older people take unnecessary
risk, over reach their goals and even get too greedy by taking things that are not theirs and
end up losing whatever they have and suffer the legal consequences of their criminal action.
These actions also have a detrimental effect on their lifespan due the stress it creates.
Learning how to live with what you have sometimes is the best option. Enjoy the life that you
have worked for. It is too late to change your financial future when you are in the twilight of
your years. If you could not make things happen in the prime of your life, what makes you
think that you can do it now that you are in a state of decline?
*** (The views and comments of the author are his own and not of the newspaper or FINEX. Dr. George
S. Chua was 2016 FINEX President, FPI President from 2010 to 2020, a regular member of the
National Press Club, an entrepreneur with investments in Broadcast, Media, Telecommunications,
Fintech and Properties. Comments may be sent to georgechuaph@yahoo.com)