I’m retired from the US Navy as a Senior Chief with 22 years in, I have a small pension from when I was a merchant Seaman and a large 401K from the same job (Thank you very much) which I converted to a few IRA’s I still have never accessed. And at age 62 I started my Social Security pension which BTW I earned while working and paying into my entire working life it is not a gift from congress.
While still working I used my pay checks every month to build a house, mortgage free, plus I spend $600.00 a year for homeowners Insurance (Typhoons fire or whatever) when I retired I knew all was taken care (Or the best one can know). I am from the school of “Own your house” which does not mean that renting is wrong; it was just not for me. Even in the Navy I bought a house or Condo at every duty station, and sold it or leased it when I transferred, at the end of my 22 years I’d made a tidy profit, and the renters and government because of the military housing allowances mostly paid for each one. (Thank you Uncle Sam and all my past tenants)
Here in the Philippines I must have Food, Electric, water and internet. That is, my entire monthly NUT (expenses) that I need to live. When I’m close to having spent my monthly budget there are things I do; like, parking the car and using a Jeepney. Plus I can skip a few times out with friends during the month or just have them up to the house for lunch and a cocktail. Not bragging but I spend far less than half of my pensions per month to live here. If I lived in the states I’d have to get a job as a greeter at Wal-Mart.
I’ve never been that free spending Millionaire for a Day” kinda of guy, as a matter of fact; I just bought my first New Car since 1978. As A merchant seaman I didn’t live anywhere (A $60.00 a month storage locker in Florida with my Jeep and personal mementos paid for 5 years in advance was all I had). Then I drove the Jeep to San Francisco put it in storage and sold it two years later because the Philippines couldn’t tell me in advance what the custom duties were on my Jeep. Then for six months at a time the ship’s housed and fed me and then during my two months vacation between ships I used rental cars and stayed at resorts, until I married Mayang. (And my life improved)
When I retired I had my (401K) untouched for all the years I worked as a seaman plus, bank accounts from my housing investments in the Navy and remember I was single.
From 1986 until 2000 I had not spent any of my Navy Retirement.
This is my story, not anyone else’s, some people were smarted than me and are far better off, and I for one, applaud them. But here is what I know, with a healthy savings account, a decent pension, or as some have done using their toughness to go it alone and earn your way here; the Philippines just might be the place for you. But the person, who comes with a few bucks and a small pension, is in for the shock of their lives. If you go native you might make it. But remember there is a vast difference between surviving and living the dream.
There are thousands of people retired here and 99.9% are doing well and planned well for their retirement. As I’ve pointed out many times before: I don’t lecture, I just write about my life here, you take from it what is pertinent to you and forget the rest. But here is a fact: With the right attitude this could be the most rewarding experience in your life. I’ve been here twenty plus years and still love it here. Come on in; the water’s fine.
Is the Kool-Aid good, too? I’m tempted to drink it.
Jimmy;
Just keep waiting for your Kool-Aid to turn into wine, with an attitude like that; you’ll more than likely let the temptation slip through your fingers. If you disagree be a gentleman and knock off the snide stuff. Have a great Kool-Aid filled life.
Just to keep everything honest and above board, it’s totally safe to drink the Kool-Aid.
For 37 years now Americans have been getting it wrong. The Jonestown mass suicide victims drank Flavor Aid, a non-carbonated soft drink beverage made by The Jel Sert Company in West Chicago, Illinois. It was introduced in 1929.
Kool-Aid had nothing to do with it … but hey, what would facts have to do with it at all, everyone “knows” what thye “know”.
David;
And then there is the snide Kool-aid drinker that assumes he know something. In the Navy Koo-Aid was called “Bug Juice” Thanks for the Jim Jones update….(LOL)
would $800 a month, and some savings or just $800 a month, and I think the U.S. fed may take taxes from that, be enough to retire, living in the Baragay, free rent, not free electric though. I think it would suffice for me and my gf or wife there considering the fact that they have kept themselves alive for all these years, with not even one tenth of that. thank you, keep up the good writing.
I doubt that $800/month would be taxed, as it’s less than $10k/year.
Dave:
I think your right that it won’t be taxed.
I would not try it on $800 a month. Keep in mind there are absolutely NO Govt. fall back programs here. You are on your own. No food stamps, no free medical. Comparing yourself, as a westerner coming from a western society, to Filipinos and how they “get by” on far less is maybe sounding good.. until you are actually in that place for a while living it.
I have nearly 3 times that amount of monthly income and I am able to save some each month.. but I would not try to live here on very much less.
The problem with having so little is the unexpected.. Like suppose you need to fly home?.. I have heard stories of guys who are stuck here because they cannot afford to leave.
Good luck though.
I have backup money in savings. I may even try to get my gf a coffee shop franchise or other franchise, because they are comparatively cheap in the Philippines. The emergency money is there, as long as there isn’t an emergency a month.
Richard:
The unexpected stuff is the thing that can wear you down. Over the years I’ve kept track of all the unexpected’s I’ve seen that happened to myself and friends. I keep a contingency fund separate just to deal with it. But as Marc saud, as long as they don;t happen every month. (lol)
Marc;
As I said above I don’t profess to have all the answers, If you feel that amount under the circumstances you’ve listed will work for you, then it will work for you.
As I said Paul..:)..good luck to him. We all have different needs and expectations. I came here flush.. (at least by my low standards) and found that I was not really able to find the type of place I had set my sights on. Be that as it may?.. I have time.. I have a good, safe place I am living and continue to look.
One thing I will say though? My expectations and what I “thought” was acceptable to me has also changed… comes with the territory I think. adaptation is the key to living in this country.. many people bring their unhappiness with them.. but they can also bring their optimism and acceptance with them as well.
Me? I love it here..:)
Richard;
Twenty years ago we had to put together a van and a group of us would drive to Manila just to find an ATM that would take our stateside cards. So adjustment to living here is constant. But it is so much better now and I see improvements every day, if I wanted it to have all the amenities of Florida, I should have retired in Florida. (LOL) It sound like you have remained flexible and that is the key to life here.
Paul,
An excellent point you make here. Because we live here in the Philippines day by day we often tend to forget or fail to notice the real life improvements that happen almost day by day.
The guys who are considering a move here that I feel sorry for are the ones we always hear from, frequently, who start out the conversation with “Well I pretty much know all about living in the Philippines because I was stationed at Subic (or Clark or Mactan, etc.) 20 years ago …
Guys if you think the Philippines today is the same as the Philippines of 20 ears ago, you don’t know Jack … or even his cousin Freddy …
Things change a LOT in 20 years and that’s certainly true of the Philippines as well.
David;
Any one of us with more than 4 years here can point out the positive changes that have happened and the new ones happening everyday.
In my area, not one but two malls, an expressway that will put me in San Fernando in 50 minutes or the entrance to Manila within 2.5 hours when I remember it once took 7 hours on a nice day.
5 years ago I had no internet at my house and thought I never wood, then whoops there it is….
So many changes in so many ways, and still some things that will never change, but that’s why we moved here isn’t it?
Folks read the new customs rules on sending LBC and the others here, you might not like the new taxes and them opening your boxes in Manila. It’s the new normal now.
Interesting to hear the financial piece of your story, Paul. And great to know. I will be similar: a tiny pension, Social security, plus my retirement savings that I will keep trying to save or use for extras like travel. The equity I earn when I sell my US house will be the ultimate budget for the house in the Philippines (after renting for awhile).
Two years or less – can’t wait.
Dave
Dave W.
That is a good working plan for anybody, but that is the key…Just having a plan!!!
Wow ! I got scared as hell when I first started reading this… I didn’t read you as having a BEER BUDGET !
Then I came to my senses…. beer is food…. all well in the world again.
Cocktails in a few years sir.
Bubba;
Beer is the cap on the food pyramid, And it’s 100% Vegetarian.
I just wanted to let everybody know that Paul probably won’t be able to reply to your comments today. There is a big storm going through Paul’s area today and his Internet connectivity is very spotty!
Thank you Bob:
It let me on line at 3 PM (1500 my time) I was just finishing a refreshing glass of Kool-Air and I was able to log in.
Paul,
Great article, Paul I’m a relative “newbie” here with not yet 10 years, but I love every one of them. I see two big mistakes many of our fellow retirees make:
1. If they have sufficient retirement funds they still hang back and wait too long before making the move. Old age comes to all of us (if we are lucky) and death follows, for sure. Waiting until you are really old and inform is a bad choice.
2. If they don’t have sufficient retirement finds, they just “stand outside the fire” wringing their hands about having only $xxx dollars a month. My message? The only reason you have only $xxx per month is because you accept that as an artificial limit. Anyone can learn to earn additional income, even in their 60’s and 70’s and 80’s. Think more of yourself, a “fixed income” is fixed only if you accept the limitation and give up.
Hello David;
I think you stop being a “newbie” when you wake up at the end of your second year and are not trying to get to the airport and book a flight.
But you made some great points and there is no one right way to live here.
I no longer count on my pension for survival. We grow fruits and vegetables and my wife sells them in the market. I tried working for others at P300 per day but it was simply too hot, I can’t do it.
Now I concentrate on working in the garden 2 hours per day which seem sufficient for maintaining it.
I still use my pension money but not for
living, I see hard times ahead and that is how I am getting ready to face lt.
PalawanBob
It sounds like you have figured it out for you and your life, that is the best that any of us can do.
I agree with Palawan bob
I see hard times ahead-
Which may effect our timing to retire in PI
All we can do is plan and hope for the best
Reading this blog is the best prep anyone can ask for
Thank you all for the insight
Diane & Jaime
Diane & James;
I fail to see the hard times myself, but then it could just be a frame of reference. I see no change in my future unless the US Flag stops flying over the post office in my home town.
An amazing beach!
Hong Phuong Nguyen Thi;
Aren’t they all….
Paul,
You really had a great plan for retirement here. I see so many people come here unprepared for emergencies or expecting there money to last longer. I usually use less than 1/2 of my monthly pension and i worked 3 jobs to save a nice sum to stash in the bank. I bought a supplemental health insurance policy along with Philhealth to cover any major medical problem. There is know way i could live native. There are just to many foods and other things i would miss. And when i start drawing SS things will get even better lol.
PapaDuck:
The food I like is the biggest part of my monthly “NUT” I refuse to do without it, I like rice, but not three times a day I won;t even eat potatoes three times a day.
I was wondering about the living costs, does many of us have a house/apartment of your own ( or your partner)? How about if comparing this cost to house you must pay a rent!? Let`s say, in an area where we live in Cebu we pay subdivision fees 1080p/month + electricity and water and tax from our house to City. All this less than 5000p/month. In the neigbor there is a similar house to be rent for 25K/month! It`s a big different if you just count your house as an investment which value in a city will be rising up if you want to sell it someday… Does anyone here have experiences of homeowners insurance where to get the best one and what does it cost and does it really pays you back if there`s damages bc of typhoons, earthquakes …. How about your own experiences? Thanks!
Leo;
My friend and I have the same Homeowners Insurance Company, I’ve yet to suffer a calamity but his house in town flooded in 2013 and they took good care of him as he explained it to me. The brand of insurance is not for me to recommend, when you are living in an area check with your neighbors and see which one they are satisfied with.
Paul, if you live near the western coast in Luzon, you better be on high ground… otherwise.
Email me if you want to know more.
PalawanBob;
I live on the side of a mountain above Subic Bay in Dinalupihan Bataan. All our rain is affected by gravity and is gone as it falls.
This issue is not about the rain. I was referring to an event that will happen soon, this year, in your area.
It will affect you BIG TIME! Enough said.
PalawanBob;
Could you narrow the timeframe down a bit so I can be in Singapore when it happens?
Paul,
LOL. What if I disconnect the TV and don’t have internet. Then will it happen?
Thinking about that since something will/might/can happen maybe Filipinos have it right. They have fiestas and don’t worry about what some say might happen.
Rusty
Yeah your warning is a bit too cryptic, if you could just share what it is we are supposed to worry about I can be sure to add it to my “Things to Ignore” list. Ine of the chief things I enjoy about life here is … well … enjoying life.
What one of these days something really bad is going to happen? Hey you’re right, probably will. So?
You know what I’m worrying about these days? Having to go back to the USA for almost a month and figuring out how not to get shot before I can get back home to the Philippines.
Be well. Worry less. Live happier, and since I am hijacking Paul’s post here, drink more SMB 😉
Dave,
Wasn’t that shooting in VA just a horrible waste of talent. The young reporters had dreams and a bright future ahead of them. Just a total waste.
Like you said when I go back to the States, in April/may, I tend to think about a traffic accident. Here it seems the worst that happens is a see a dog that is hit on the road. Then they don’t pick up the dog until it is crushed up.
Oh, I read about drug dealers that are killed. Plus anything can happen but life is pretty stress free.
I ran into someone who said something horrible will happen in the States in September. Well, it turns out that meteorite they were talking about is a hoax. Well, how about the stock market. Sorry off a month. As Sam Walton said once; “Let the market take care of itself.”
As for China. That correction should have happened a long time ago. China has been building like there are tons of buyers. Someone said there’s a huge middle class that will suck up the condo. Not according to the foreign exchange student we had in Vegas. He said, and they were middle class, that they’d never be able to afford anything but a small apartment.
Rusty
I will reply to this and Bob will probably delete it. Having said that. Location location location. I am living at present outside of Angeles City..it has it’s benefits but also it’s detriments. It is however in-between Mt. Arayat and Mt. Pinatubo (which as it happens blew it’s top in 1992).. Most typhoon come from east to west… my place is good drainage.. 🙂
I pay rent at present and really have not felt the need to buy anything.. maybe if I find something I absolutely love I will consider further.
My rent is 8000p a month..2 bed house.. and private.. ( not in a sub-division.. we live amongst) electric is up to 3000p.. but then I bought my lady a high speed sewing machine and she is on her way to creating an empire I think?
Richard;
I see no reason why Bob would delete your comment, as it seems logical to me. You have adjusted to the situation that is the Philippines. We can do no more than that.
Why in the world would you say such a thing, that I will probably delete your comment?
My apology Bob. I have responded to posts before that never showed up and just assumed you had deleted them. Once again proving the meaning of “assume”.. So sorry. No offense intended.
I can assure you that I have never once deleted any comment you have posted. I have deleted comments from others if they were vulgar or offense to others in some way. I just fail to see why I would delete this comment because it is not vulgar or offensive, except to me. If you feel that I have done something underhanded, please contact ME, instead of posting things publicly accusing me of something I have never done and have no intention of doing. Would you like to to start posting offensive things about you? Probably not.
Rusty;
A failed journalist shoots other journalists I’m surprised CNN and the other media outlets aren’t at Wal-Mart looting and filming at the same time.
The stock market matters to the rich and those getting richer, how does it affect you and me? I have none of my money there.
Middle class in China there must be at least 102 of them, but last week they were rich but the stock market crashed and is causing them to slide to the lower 99.999999999999%.
Yup, you and I are right on target when it comes to China/reality. In Vegas someone said that China was going to do whatever. I forget what they’d said China was going to do. Anyway, after their raving I said; “Yup, as long as we prop them up.” My statement wasn’t well received. Too bad Trump wasn’t there to reinforce what I’d said.
There’s no way China would help us with our debt if they weren’t getting something in return. China knows they can’t lose a trading partner like the US. Who else has a pot in every corner of the house. Ala TVies and whatever else they sell at Wal Mart, etc.,
China has really smart people. The US does too. However, too many just don’t pander to the powers to be and thus aren’t at the top of the food chain.
Rusty
Good for you Paul. You’ve accomplished a lot in your life.
I knew one person in MI who, in my opinion, was very successful. He had a good job. A nice family. Lots of toys. However, one day he said “Rusty, I’ve never really accomplished anything. I’ve never been anyplace but to work and back for X amount of years. I never traveled and lived in Bolivia (now Philippines) like you” So, I guess success is in the eye of the beholder.
I’ve seen, just two, homes that are shaped like a boat. Is yours? The homes are owned by seamen. One is a home that was built for tourists. The other is a house that is a 2nd home near the seamen’s main home. If that make sense.
Rusty
Rusty;
My four brothers are just like that 9-5 2.3 kid’s house in the burbs. It wasn’t for me. House shaped like a boat? There is an old sailor’s story of the guy that left his last ship and started walking in land with an oar over his shoulder, and he planned to live in the first place where someone looked at the par and said; “What the hell is that?”
Paul,
Lol. The houses that are shaped like a boat are really interesting. They have the haul (which acts as a porch), the bedroom had windows that were sort of circular shaped, and an aft that was an office.
Rusty.
Rusty;
The average porthole is about 18 inches in diameter, that would be a warm room. (lol) I heard of one guy who moved an ocean going tug to dry land (I believe in Maine) and removed the machinery and made it into a house. I’d live in it! But other than that I have to go along with what my wife wants!
Hi Paul, when I first visited the Philippines in 1987 I said to myself this is the place
I want to be, so I set about working to save money and investing in property mainly
Apartments and houses to rent ,built our own house , i retired at 52 can’t see the point
In working till your 70 the point I’m making is you have to have enough money to live
At a reasonable level I’ve seen to many expats here in Manila who haven’t got the money
To pay for the flight home, I’m like you I’ll eat rice but I also like good western food
And I like a few beers, Derek in pasig.
Derek;
Beer…Hmmmmmmmm!
I retired at 55 you win!!! (lol) But like you, I had my eye on the prize most of my life. My goal was going back to the Caribbean again, but all my ships sailed Asia so I adjusted after meeting my bride Mayang. I was flying to meet a ship in Singapore and stopped here for a few days to visit an old shipmate, and the rest is history…….
Paul,
You are a wiser man than your brother Dan gives you credit for! LOL You have seemed to have done well to calculate things out and prepare for a retired life.
I will say to those that think they can live like an average Filipino here after coming from a western culture, they have a surprise coming to them. I am not rich by no means, but I still have more than most in my barangay. I can not fathom living the life most of those people do. I need more than dried fish and rice three times a day to live on.
Steve;
I am on my second retirement here in the RP, the PR (Puerto Rico) was my first until I opened those bars and found out that I didn’t own the bars but they owned me. So I was still in good financial shape, but when I went back to sea and was earning over six figures a year and was spending money only while on vacation I knew I’d do better the second time around at this retirement stuff.
Like you I knew that going native was not my style and needed to eat my food more than theirs. My wife gets to eat her own food whenever she wants and still likes mine once in a while, and I’m the same. My daughter and her family are now in Florida and she found the Asian market that sells her Filipino food within a day or so. We eat and like what our parents fed us, well… most of the time.
Steve,
Plus AC, right? Or at a minimum a fan.
Yup, I bet zero Westerners could live like a Filipino. Live like a Filipino actually lives. No AC, No flush toilet, etc. People might say I can live with an outhouse or the sea. Is that for days, weeks, months, or years?
Rusty
Rusty;
I went without any TV in English for years and just got internet 5 years ago. Something will happen, it does everyday
Paul I think the guy with the OAR was named Ulysses.
Your spot on about live here it is good and getting better
I have been here now 15 years everything we own is paid for from income from the business we started 15 years ago.
Needless to say the Kool-Aid still tastes good and it is still my 6 year olds son favourite drink
A couple of more years before I can claim SS and retire LOL
Hope the Typhoon went through your area with out much damage we made it through Yolanda but 5 months with no power was no joy
Tom;
The typhoon was quite a bit north of us, what we have had is relentless rain, but that keeps the neighbor kid employed bailing out the Koa pond every other day, (I really must replace that pump) After the Navy I lost my taste for Kool-Aid like Spam it was over served to us. But Jell-O is still a favorite. I have been in your enviable position of everything paid for since 1986 debt free until last year when I put half down and financed the other half on my new car. But that is also half paid and then I’ll be back to normal at the end of 2016.
One thing I can definitely say about you guys, you got moxy. It takes guts to move here. A toast to all of you!
Norman;
I think for me it was easy, I started living here while still sailing and earning good money. It’s the guy that packs his bags and moves here on his own that I respect.
It is a definite, for me, that people that move here a good pension plan. If not then they certainly need to be hard worker’s/entrepreneur’s like Bob.
It must be challenging to come up with successful ways to make money here. The only challenge I have is to motivate my wife to get into business with a friend. Notice I said; Motivate my wife.” The business is already making money. But the owner needs a backer.
Opening a food business is something more to do than to make a living.
Rusty
Rusty;
Nothing will fail faster than a business with partners…the reasons become apparent when you’re told there was no profit this month and two of the pigs died (At the market) (lol)
Paul,
Yes, never go into business with family and friends. However, My wife’s going into business (which I doubt will happen) with a friend is more something to keep her busy than to make money. I guess they figure they play mahjong/Tongue each together so why not spend time roasting chickens.
If it works out great. At least that will keep her off the streets. LOL. My wife was going to run for Captain on her small remote island. The people had asked her to. But she is a dual citizen and can’t. Well, actually she can but she’d have to give up her US citizenship. Nope……
Rusty
Rusty;
Yeah right Barangay Kaptian, and the knocking on your door 24-7-365 to ask why the power is off. Tell the wife to take a salary from her friend and make money instead of spending her money, who needs a backer if you’re making money?
Paul,
Were you an attorney, politician, or O’ Reily? Nothing gets past you. It isn’t really a backer as it is someone to be with. I guess life in the chicken roasting business is pretty lonely.
Then again maybe it become a franchise business. Yeah Right. However, now that I’ve said that we know a woman who decided, this was 20 years ago, to grow vegetables. Fast forward to today and she now is franchising successful restaurants.
Now that is something she took from an enjoyable hobby to a successful ending. That is something a 20 year could do. Or a go getter. My wife is a go getter but on her time table. LOL In other words, Nope!!!!!!
Rusty
Rusty;
If it gives you free time to consume cold adult beverages with friends in the heat of the day; than I say; “Let them chickens spin.” (And one on your table with the beer……)
Were I an attorney, politician, or O’Reily I’d have money and I’d be charging for my silly advice. My wife was going to add a Sari-sari to our house while we were building back in 1999, I was home on vacation and put a stop to that. 12 hours a day hearing “Knock- knock” to sell a .25 centavo piece of candy? I think not.
We were considering a sari sari store. We aren’t anymore. The only way I would have opened one was if our 2 helpers ran the store. Unless we happened to be around to run it.
S, why do we have 2 helpers. After all we did everything on our own in the States, right? Well, bot of them came to the gate wanting transparency (No!! a place to stay). They said they’d work for lodging.
Both had worked at this house before we rented it. So both are very trustworthy. So, it would have been tough to turn them away. I just couldn’t do it. Of course we give them a salary besides the food/lodging, etc.
So it is worth it for us. I don’t know how others feel but that is our way of giving back. Others do something else, right?
Rusty
Rusty;
We’ve never had a helper or a maid (Well her sister did help out for a couple of years when Mayang was sick, BTW she’s fine now) I keep a list of “Guys) who I can call and take care of everything for me. But if you keep helpers than that is a good way to do it too.
What ever will float our boat is the right way. (lol)
That is what I did… starting in 2007 my mission was to leave America as a boycott because of the continued decline of America.
Took me until April of 2014 to finally make it here. Moved without a prior visit. Many called me nuts and still view this move this way.
Paul,
2yrs out… My Plan is 5M Peso in bank, and a pension of around 90K peso per mo… and my house there is already paid in full. I am fairly certain this is doable, what is you opinion based on experience?
Chris;
There is no way I could picture you failing with the information you set forth.. The fully paid for house cuts your monthly nut to next to nothing. I think you’ll do very well indeed.
Interesting posts and lots of information scattered throughout. I have been traveling to the Philippines for over 25 years. Near the beginning of these travels I was in the military (Marines) and then later on, a civil engineer and the overseas director for an office located in Baguio. I am married to a Filipina as well (from Pangasinan Province and Urdaneta City). I have been toying with the idea of retiring in the Philippines for years. But haven’t decided “where” would be the best place to do this or whether my funds would be sufficient to live “well”! My biggest issue is health…as I have had some major past issues and I am only 51 right now. As some of you folks have been actually been living as ex-pats in the Phils, you can gauge better than I whether an income is sufficient to live more than average or whether decent medical is available outside of St. Lukes in Manila. I presently work for the Federal Government and am a GS-14. I could end up moving up to GS-15 before I retire at age 62 (11 years from now), but it wouldn’t hurt my feelings if I didn’t at this point. I also receive a VA disability pension tax free in the amount of $740 per month. In total between social security, my 401k, my savings, my VA pension and my Federal Pension, I will have around $7500 per month net. In my last visit, I noted that the Philippines is getting a little bit expensive here and there. Thus, I was wondering if 7,500 USD is sufficient to live “well” in the Phils these days. I am also interested in teaching part time at one of the local Universities as well o help me stay active. I have not decided whether to buy or rent. The advantage of buying is your costs are fixed from that point. The advantaged of renting is flexibility, mobility and your capital is not committed into a house. Lots to think about. Anyways… I am sure some folks out there have some comment on what amount of pension it really takes to live more than average in the Philippines theses days, thus I look forward to hearing such advice…thank you
Scott
Scott;
$7,500.00 per month, and what was your question? (lol) you could live an extremely comfortable life and bank the other $5,000.00 you don’t spend. Medical is different, the closer you are to a large urban area the better the facilities will be, which is the same as the US. Or if you feel the need Singapore and Guam are close by. As to the location, that shipmate is up to you, I like the Subic area as all the services I require are within a 20 minute drive from my (Rural) house in Bataan. So Marine, the rest is up to you, but I think you can be happy here wherever you decide.
Thanks for your thoughts. I had heard that you can use St. Luke’s with Federal Blue Cross Medical Plan, even as a retiree because it is the same plan. My issue is cardio, thus need access to somewhere that has state of the art practice. $7500 a month may sound like a lot of money, but in all my visits to the Phils, it seems like I go through that much in 3 weeks time and then some. Of course, I wouldn’t be staying in Manila hotels once living there. But I had children late in life, and one will need to still go to school. My daughter would be in college by that time, but my son would be in high school still. Thus, some of that monthly retirement money would need to go towards a private western standard school so he could finish up. I don’t think they are cheap even in the Philippines. But over all, I too think I would be more than just fine. It comes down to this: do I want to retire in Ft, Myers? Or even Panama City, FL, which is where I live now? Or do I want to go to the Phils? I am leaning towards the Phils as I love it there so much, and so much to see and do as well… Then it comes down to rent or build. If I build, I would prefer to be there and guide the design and construction seeing I am a civil PE, thus may rent for awhile anyways to make that happen. But, I guess it wouldn’t hurt to start looking for property to build on over the next years until I hit 62. That part, I am certain on… Come 62, I will be ready to retire! Thus the where question comes to mind. My candidate locations are: Cebu, Southern Leyte, Southern Negros, Batangas, and Baguio City. I love the ocean and beach, thus I lean in that direction. Thanks for the return comments….
Scott:
College is not so bad here nothing like the cost of the US (I’ve put 5 kids through school and one more is coming soon. But it’s worth it. Insurance and specific medial problems I can’t answer as I lack the knowledge but hopefully some other reader can.
You have some diverse areas you’re looking at, but all are good choices no doubt readers will have more suggestions for you also. But looking around before you buy or build is for sure the right way to go, renting is a way to go until you’ve made up your mind.
I sure hope someone in your wife’s family buys land before, or if, you move here. In 11 years you’ll wish you had.
They must not only have a clear title but they need to have researched, and researched, the title/land. Don’t just leave it up to an attorney to sign the deed of sale. The attorney doesn’t really do any research.
I guarantee you if you just trusted whomever a relative would come out of the wood work saying they didn’t agree to the sale.
Once you’ve bought the land fence it off or someone else will.
Rusty
Paul,
If someone wonders if they can live extremely well on 7,500 a month then they can’t. Some we know live on less than a $1,000. They are living OK. 7 times as well as OK equals what?
Rusty
Rusty:
My best friend has been here since he got out of the Navy in 1972 (One enlistment) then he became a merchant seaman, and now as a chief engineer his monthly salary is an obscene amount of money, if I said the amount you would have to say I was full of crap. But the thing is he is 61, and is still working. I can’t explain what people feel that they need a certain amount, but if that is what they feel, then they are right. Throw me into that briar patch.
Scott,
Your $1 short of living with 5 helpers (cooks, cleaners,), a doctor on call, or living at your house, cars, a private elevator, a mauseuse (speling), etc. Guaranteed even in 11 years an income of $7,600 a month will mean you’ll live very well here.
However, since you’ll have almost free health insurance in the States (with your medical history) you’ll probably want to stay there. Yes, the stress will be practically zero here but the medical is a concern.
It really all depends upon you. Don’t let anyone talk you into coming here unless you want to. Then again someone said the US won’t be around after 10 weeks so ma6be that will make your decision for you.
Dang, twinkies.
Rusty
$800 a month is fine for a person who doesn’t need luxury in his life
not enough for a family though
Dante:
It would not be enough for me. But say that is the guys max retirement, would he be better off in the Philippines or Florida? It’s all in your point of reference.
I’m 30 and I live on about $900 a month hehehe
definitely can’t do that in florida