Buying a house, sending your children to school, living comfortable, retiring early. For Filipinos, these all means financial well-being. Dutch-Filipino financial and mortgage expert Rayon Aquino shares how the right financial decisions can help you create the life you want.
Rayon Aquino understands all too well that while money can only buy happiness up to a certain degree, it certainly can buy time. Born and raised in Amsterdam, Rayon grew up in a Pinoy household to parents who are first generation Filipino immigrants. Rayon saw how little time was left for the family while his parents worked very hard to provide for him and his younger brother. He longed for deeper conversations with his parents, to share his dreams and talk about his feelings and struggles. But there wasn’t always time for it.
“My parents’ main focus was on providing for us— making sure we had food on table, clothes on our backs, and a roof over our heads. They were in survival mode, doing everything they could to build a better future for us. My parents were doing their best with what they knew. And while they loved us deeply, they didn’t always have the emotional space or time to connect with us in the way we needed at the time. It wasn’t because they didn’t care, it was that their priority was survival and emotionally they were stretched thin. ”
Only in his adult life did Rayon fully understand that for immigrants, a certain degree of sacrifice is needed to give your children the same opportunities that are otherwise available to Dutch peers with generational wealth. With this realization, he carved a career path that not only ensures financial stability but also enables enjoyment and a bigger sense of purpose.
Perhaps influenced by the Filipino culture of aiming for the highest degree, Rayon studied labour law at the Erasmus University in Rotterdam, aiming to be a notary. But he did not get the energy and drive that he was looking for in the traditional and slow-paced nature of his job. He switched careers, and in 2014 started working for ING, one of the biggest banks in the Netherlands, where as a personal banker, he advised clients on how to grow their personal assets through savings, mortgage, and investment.
“Financial fitness or financial well-being means staying ready financially now, being able to save, being able to pay for things that break or unexpected costs, and being financially ready for the future. It is also having a certain amount as equity or investment in your bank account for a long term goal.
Rayon Aquino, mortgage and finance expert, Netherlands
Later on, he specialized in mortgage consulting particularly for expats in the Netherlands.
“Although the financial industry has its flaws, it definitely made me see that financial well-being or financial solutions in people’s lives is a very important part. You can reach dreams, you can create the life you want by making the best or the right financial decisions. That’s where I fell in love with the whole financial aspect and financial guidance of people.”
A good financial advice
Rayon lights up with his distinguishably Filipino warmth when he talks about being a financial and mortgage expert. In the world of finance, he found his passion in guiding people on how to achieve their financial dreams, like buying their dream home, supporting their children financially or retiring early.
“Being part of somebody’s dream and guiding them toward their financial dream is something I am really passionate about. The financial industry is very complex and very regulated. As a financial advisor, there is where I can add value by making this complexity easier to understand for my clients. When I talk to somebody who has a certain challenge or a problem, I always try to look at all solutions within the laws and regulations. I try to be more creative in helping them to achieve their goals and realize financial dreams.”
From his multicultural background, Rayon developed a distinct understanding of the roles of culture and family in financial decisions. He knows that for Filipinos and other expats or immigrants, a house is not just a roof above your head but a home, a symbol of stability and sometimes of status. He understands how emotions can be blinding if one is looking for a dream home. But his western education allows him to be considerate while being realistic.
“As a financial advisor, I will compare your financial situations. For example, if you are currently having trouble paying €1,700 rent and you are looking at a mortgage of €1,600, you really have to explain to me how you will pay that. You can probably borrow the amount based on rules and regulations, but based on your personal situation, it’s probably too high. So that’s me being upfront, being honest, because I also don’t want my clients to get in trouble. You have to be a mirror to your clients, and you need to be able to give them advice that sometimes stings or hurts a little but always with the best interest. Sometimes we do things or we buy things we become over excited, overly ambitious, but actually it’s not fitting. It’s up to me to show them that, to make them aware of the possible risks.”
Financial peace of mind
He remembers how sometimes his parents deal with financial stress, but they made it work somehow. Rayon now knows that their financial decisions could have been done differently, like adding investments instead of just relying on traditional savings and employment and government pensions. Looking back, he wishes that somebody had been able to give his parents tips and advice on how to increase their long-term financial well being and achieve financial peace of mind.
“When you have that financial peace of mind, you’re a better and happier person, a better partner and a better parent. You can actually help others because you feel strong.”
Rayon Aquino, mortgage and finance expert, Netherlands
For Rayon, financial stability means access to better opportunities. He believes that access to the best food, schools, sports activities, and knowledge unlocks career opportunities in the future.
“When you don’t have to worry about your finances, you are able to focus on other things in life that are important to you. Money could create more time. Time that you can spend with your family, your partner or your friends, or on your hobbies. You are flexible in life, you can act fast on an investment, a school trip or a career. Money does not limit you. Lastly, and this is really personal to me, I believe that when you have that financial peace of mind, you’re a better and happier person, a better partner and a better parent. You can actually help others because you feel strong. It’s hard to help others when you don’t take care of yourself.”
On utang na loob
Well aware of Filipinos’ internalized sense of responsibility towards family and society, Rayon offers a different perspective on utang na loob. He advocates for taking care of yourself first, like putting on your own oxygen mask first before assisting others.
“If you spend your last euros helping a relative, that relative will probably be happy. But because it’s your last euro, you’ll probably feel that. You did it from a good heart but if something goes wrong, it could cause stress and anxiety. Or you’re expecting something in return, like they cook for you or pick you up from the airport. Let’s turn it around. Let’s say, you tell that relative, sorry I can’t help you now but probably in a few months. If you make yourself more financially stable, then it’s easier to help that relative. And they will feel that they are helped by a strong person rather than one who is always stressed or always mad. You did it from a strong financial place.”
Family time
Rayon has made it a priority to balance the lessons from his parents – resilience, hard work and focusing on goals – with the emotional connection he values very much. He is driven, and result-oriented when it comes to his work, but he also makes sure to create a space for deeper connections at home. He shares long conversations with his wife Vharsa, and to stay physically fit they do kickboxing together. He is also present in raising their toddler Alyssa and newborn son Keannu, taking night shifts from his wife. Despite working hard, he allots sufficient time to relax by re-watching classic television series like Friends or The Fresh Prince of Bel Air.
“I’ve learned that ang tunay na halaga ng pamilya (the true value of family) is not only in the things that we provide for each other but in the love, communication and understanding we share. My connection to my Filipino culture is stronger than ever. I’m proud of my roots and the resilience that came from growing up in a migrant family. But I’ve also come to understand the importance of emotional presence and connection, something I make sure to pass on to my children.”
Long term financial well-being
After more than a decade of acquiring financial skills and experience through various employments, Rayon recently started his own business, Aquino Financial Services. His mission is to empower individuals with long-term financial well being. He wants to give others insights on their financial situation, and help them make the right financial decisions based on their goals and wishes.
“You can reach dreams, you can create the life you want by making the best or the right financial decisions.“
Rayon Aquino, mortgage and finance expert, Netherlands
Rayon compares long-term financial well-being to having a body fit for the future. It needs to work out, run or lift weights. In order to achieve it, it needs to hurt a little.
“Financial fitness or financial well-being means staying ready financially now, being able to save, being able to pay for things that break or unexpected costs, and being financially ready for the future. It is also having a certain amount as equity or investment in your bank account, and for a long term goal, such as going on pension before the age of 67, buying a property in the Philippines or saving for your children’s study. That’s where I come in and help people with that.”
Rayon also cautions readers on so-called financial experts on social media. He advises everyone interested in getting financial advice to always get it from licensed financial advisors who also have relevant diplomas and accreditations. “If it’s too good to be true, it probably is not true.”
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