Pinoy Olympian Carlo Paalam won silver in the Tokyo Olympics. He received millions of pesos in rewards for his achievement. He could definitely use the money to buy flashy cars and a huge mansion, but he chose to use the money to invest into a business. It was wise of him to do that, right?
Paalam Wisely Invests Olympic Rewards into Business
We’ve heard of so many sad stories of famous people, particularly in sports and show business, who end up living in the streets or other forms of difficult, poor lives, despite being so rich at the peak of their careers.
The problem with these people is that they never thought about the future when they were at the height of stardom.
Not Pinoy this Olympian. Instead of splurging on luxurious stuff, he decided to use his money to start a business.
He built mini-grocery store and a 2-storey commercial building with residential pads for rent at his hometown in Zone 10 in Upper Carmen, Cagayan de Oro City. He also plans to venture into the livestock industry.
Even when the residential pads are still under construction, the grocery section of the commercial building is already in operation.
Many netizens are impressed by the way Paalam is using his money. A boxer, he is among the Filipinos following the footsteps of Manny Pacquiao.
But like other boxers and Filipino athletes, Paalam’s future in this field remains unknown. He can become rich and famous like Pacquiao or end up like the other forgotten athletes.
Paalam made sure that even if he can’t become as famous or rich like Pacquiao, he won’t also become like the old athletes who are relying on other people so they can have food on the table because they didn’t use their money wisely.
Who Is Carlo Paalam?
Carlo Paalam is a Pinoy amateur boxer who currently ranks number 12 in the men’s flyweight division at the Amateur International Boxing Association rankings, as of April 2021. He won silver in his first Olympic appearance back July 2021 at the Tokyo 2020 Summer Olympics.