Best place to retire at 35 for ex forces vet in the Philippines and how much do I need a month to live? Tia 😀

[mogo51]

On 9/4/2017 at 8:22 AM, Dave Hounddriver said:

I met a 35 year old guy on the beach yesterday.  He quit his job and is roaming around on about US$1,500 a month and he has this great idea that he can make money off the Internet whenever he runs short.  He did not elaborate on how.  I have found it possible; but not easy to make any large amount off the Internet.

The problem I see is that he has lived less than half his life.  Surely the cost of living will increase by a huge amount before he reaches "real" retirement age so unless he has an income that adjusts for inflation or is willing to go back to work when he runs out of money then he needs a better back up plan than "I'll just make money off the Internet".

Good point Dave.

[Soldier of opportunity]

Can I just first start by thanking everyone for there responses on the topic 😀.

To be more precise it would be a forces medical pension rising with inflation tax free paid till death.

That currently sits at 1200 US dollars a month. I would then supplement this with savings if needed if I wanted to get a property or stayed renting. Depending on the situation.

I would have to find the ‘right’ place to settle and although I say that it’s retirement it’s really creating that base layer of funding to take away the pressure of having to work if you get me.

The probable outcome would be that I would start a business there to keep myself busy.

I’ve currently got an ofw Filipino gf of just over a year so going after women and getting drunk every night is not really my intention. She supports herself and has her own business ambitions she’s saved for.

Id be more than happy just being in a place with several expats living locally and just going the local bar every now and then to watch the footy. I’m a bit of an explorer so going for days out locally or further financially permitting would be a good thing too for me.

 

hope this extra bit of info sparks more constructive advice and all opinions and suggestions welcome. I know what a big move this would be.

 

Tia

Shaun

 

 

[Dave Hounddriver]

6 minutes ago, Shaun Paul Porter said:

I’ve currently got an ofw Filipino gf of just over a year

If she is coming with you then she will likely be qualified for a decent (by local standards) job.  Perhaps at a call center or somewhere she can put the skills she learned as an OFW to use here.

With 2 incomes and the chance for you to work at something for pocket money, the idea of semi-retiring in someplace like Dumaguete becomes very attractive. 

[MariChris]

I'm 35 and an Air Force Vet and will be "retiring" with my family of 5 to the Philippines. We are actually moving to Baguio City. I believe you can live off of $1k to $1500.

You can find rent that is pretty cheap. I would try to find a way to generate income online but base it from the US. I am in a little different situation that you but I started my online business about 3 years ago and it is great income for my family. But I don't count as income for us just icing on the cake. We will live good with my VA disability check that I get. And we own a house in the US, so the proceeds on the sale of that house will allow us to pay cash for a house in the Philippines.

I would highly suggest looking at online businesses and sales and what they call digital nomads. I think it is worth the research and time and effort. Even it brings in a few hundred dollars. That can go a long way in the Philippines!

Good luck!!

[Soldier of opportunity]

Hi @Dave Hounddriver

thanks mate, yes she’s a manager in a beauty therepy shop so the plan is to go down that route provisionally without having your guys advice on here and then me to do photography in my spare time.

Ill look into dumaguete somewhat then I was initially thinking davao just because it’s where she’s from.

thanks again

[Dave Hounddriver]

8 minutes ago, Shaun Paul Porter said:

I was initially thinking davao

Davao is good too.  I'm just partial to Dumaguete so I suggested it 

[Soldier of opportunity]

I appreciate the feedback and will be sure to look into it thanks @Dave Hounddriver 👌👌

[bows00]

Just don't make any big decisions for at least a year of living there.  That includes running a business, buying  a home/condo...etc.

As far as the money, this question has been asked many times before and the monthly income were all over the place, it all depends on your lifestyle, but I can give you one generalized conclusion - if you decide to live on $1200 per month, it may be tighter if you decide to live in the more expensive locations, like Makati, Subic Freeport, and maybe even Cebu.  There are a lot of options if you look outside of these cities.  And another budget breaker is if you enjoy spending time in girly bars where you could be spending $200/night (so I heard...wink wink...).

Being only 35, the Philippines will be an awesome experience for you - I will be starting next year at 56, not as young as you, but with a bigger budget.  Life is a compromise between time and money.  

 

[Jollygoodfellow]

9 hours ago, Shaun Paul Porter said:

I’ve currently got an ofw Filipino gf of just over a year so

 

What happens when the one year lease is up ?  Sorry my weird humor 

[Soldier of opportunity]

Haha @Jollygoodfellow the unknown whatever it is will be embraced