To Retire At 56? Or Rough It Out...

[Dr. Shiva]

10 hours ago, i am bob said:

One thing many forget to consider...  What if the value of the foreign currency you will retire on drops in value to the piso..?  Do you still have enough..?

This is why I do calculate my available income to an amount of 80k PHP per month even if the correct currency exchange will give around 90k PHP per month. I plan to retire to the Philippines in about 10 years at age 56 when my daughter will have finished school and apprenticeships. When she is finished with that, we will lose a lot of income while still having nearly the same fixed costs. Then we have to live with just CHF 1900.- per month in switzerland which is impossible. I hope that the costs on the Philippines are not exploding.

Edited April 15, 2017 by Dr. Shiva

[Jack Peterson]

2 hours ago, Dr. Shiva said:

I hope that the costs on the Philippines are not exploding.

 Ahhhhh! now there is a question I think we could all do with the answer To 

[Jake]

3 hours ago, Dr. Shiva said:

I hope that the costs on the Philippines are not exploding.

Hmm.....I heard from this Jake guy that, the more you explode -- the more it will cost you but what the hell.  You only live twice after you're revived from a cold San Magoo.....he, haw.  

[jpbago]

3 hours ago, Dr. Shiva said:

I plan to retire to the Philippines in about 10 years

In 10 years, hmmmmmmmmmmmmm Look back 10 years and see how the world has changed......impossible to look forward 10 years.

[Gary D]

When I first went to the Philippines just over 20 years ago I saw the buying power of the pound sterling to peso as about 8:1. Now 20 years later about 3:1. Ten years time we could all be moving to the UK for the lower cost of living.

[Reboot]

1 hour ago, Gary D said:

When I first went to the Philippines just over 20 years ago I saw the buying power of the pound sterling to peso as about 8:1. Now 20 years later about 3:1. Ten years time we could all be moving to the UK for the lower cost of living.

Well it won't be for the women that's for sure. *ducks and runs*

[Maxheadspace]

17 hours ago, bows00 said:

That is not all true.  Once you acquire real estate, I mean your own home, the cost of living in Hawaii is not too bad.  Property tax is still reasonable here compared to the east coast.  But that is not an easy task.  Most Hawaii residents spent at least %50 percent of their take home pay on their mortgage or rent - and that is a conservative estimate.  Once my mortgage was paid off, life became really easy for me, even as a single bachelor.

Sure, but that's true about almost anyplace.  If your housing is covered, the rest is gravy!  I think it was one of those Forbes articles that compares retirement places and such.  All factors taken, they ranked Hawaii at the top in the US.  If they ranked by city, I think New York City would top the list.

[canadamale]

my new mantra is retire by 65 or die trying hahaha

[davewe]

I'm 64 and just stopped working. Someone just told me today "you seem very young to retire." I can't say that I feel that way. I wish I had the option to do it years ago and strongly considered doing it last year, but realistically this was the best time for me and my family.

My father's about to turn 88 and uncle is 92. I'm hoping to get some of that longevity. OTOH my mother died at 40 so I tend to think that I've been blessed with extra years already. Whether too old, too young or just right - Philippines here I come!

[Reboot]

I wonder how much I need. I am 43 and the money is rolling in. I almost don't want to retire...making it is too much fun.