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JJReyes

Could You Live On Just $32,000 Per Year?

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10 minutes ago, bun said:

I was born and raised in the Philippines so my lifestyle when I was there is just simple.

Oh it has changed so much.  Even in the 10 years I have been here the country has become much more expensive.  How long have you been away?

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just 7 years been away. I missed the Philippines.  Im one of those Pinoy before living just $200 a month budget when I was stilll there. If you gonna live like Pinoy style probably $1000 you will live like a king ( for me of course I used to that kind of life)because I know how to spend and budget it.

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So my wife is saying 50,000 a month since we have a house and car paid for already. I doubled it and added 10% thinking i'll be okay!

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26 minutes ago, CdoubleU said:

So my wife is saying 50,000 a month since we have a house and car paid for already. I doubled it and added 10% thinking i'll be okay!

Double 50K pesos plus 10%?  Oh yeah, you'll be fine in most places.  Of course there will be some who spend more and some who spend less but if that's your budget it will be fine for the foreseeable future.

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5 hours ago, CdoubleU said:

So my wife is saying 50,000 a month since we have a house and car paid for already. I doubled it and added 10% thinking i'll be okay!

Without a car but with owning own house it will be doable without doubling the 50k.

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Thanks for the replies, I am headed to Dipolog in about a month. 

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On 7/14/2016 at 9:25 AM, JJReyes said:

Could you live on just $32,000 per year? Most retirees do
Robert Powell, Special for USA TODAY 8:16 a.m. EDT July 14, 2016

Estimated median annual household income among retirees is $32,000, and more than half of retirees (53%) live on less than $50,000, according to "The Current State of Retirement: A Compendium of Findings about American Retirees."Could you live on just $32,000 per year in retirement? Many retirees already do, according to a  survey by Transamerica Center for Retirement Studies.

The above paragraph appeared in a USA Today article by Robert Powell. I have long suspected that Americans who retire overseas have more than the proverbial $1,000 a month budget. That includes members of this forum. $2,000 to $3,000 is more reasonable. I also suspect those who have $5,000 or higher per month won't find overseas retirement as attractive. 

(Sorry. I don't know how to add a link to the article.)

Ha ha!

That is 10 times what we live on!

And I have 7 kids and several in-laws to take care of!

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On 4/14/2017 at 7:20 PM, stevewool said:

"I must add i am not living there yet but i have a budget for the future and how do i know all this, my wife says we can live well on that amount."

 

My wife expressed her opinion on how much we could live on in the Philippines vs. the U.S. where she lived for 3 years before we retired to the Phils. I found out a Filipina's idea of living well and mine are two different worlds. Take a Filipino's opinion about living well with a grain of salt. "An ounce of prevention is worth a pound of cure" sort of thing. 

On any budget "how long is a piece of string" ?    Research and then do more research.

Best wishes,

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