bows00 Posted January 25, 2012 Posted January 25, 2012 I have posted several threads stating my plans to retire there in around 5 years. But within 5 years, so many things can happen... the Philippines could change into a whole different country... just look how cities like Manila and Cebu have grown. The PI may eventually end up like South Korea where prices in Seoul are comparable New York City now! Now I have seen posts on this site on recommendations of how the Philippines could evolve into a financially competitive country with suggestions of revamping the politics, pouring money into infrastructures, changing the culture to emphasize education, etc., etc… But my message is simple, and may be viewed as self centered and selfish among some of the members here, but I DON’T WANT THE PHILIPPINES TO CHANGE! I am hoping it will stay just the way it is, in fact, if I had my wish, I would be thrilled if it reverted backwards another 20 years - where cities like Manila and Cebu would be truly affordable. And my motives are purely selfish… I want my money to go a long ways when I retire there. I want to feel rich. I want to have enough money to be wanted by young beautiful Filipinas. I want to be able to have that three bedroom house in a nice gated community, with beautiful helper and private driver. I want to be able to freely take trips to see all ends of the country with my young beautiful Filipina and local friends…Am I being self centered? No wait! Don’t have to answer that… I already know the answer… but I really don’t care. I am 50, single, and have no desire to seek out any companions here in the US and I can’t wait to retire there. And I know some of the members on this site are silently hoping for the same... 2 Link to comment Share on other sites More sharing options...
Bundy Posted January 25, 2012 Posted January 25, 2012 Speaking as an Australian, i have spent an enormous amount of time in the Philippines since 1986 and just my own opinion but i don't think much has changed at all over that time frame. The Aussie Dollar used to buy me 17 pesos and now today it buys 45. Prices go up everywhere not just in the Philippines so everything is relative.Apart from the cost of living there have been advancements made in the country over that time and certainly the population has spiralled but really i think the Philippines will always be the same until one day in the future when you might be paying Yuan for your San Magoo insted of pesos, again just my opinion. The way things are going i think that currency might become the norm in my country too! 4 Link to comment Share on other sites More sharing options...
Mike S Posted January 25, 2012 Posted January 25, 2012 If the global situation remains pretty much the same as it is now I don't think you will have to much to worry about in the next 5 years ..... but as we all know the global thingy can change in a heart beat ..... and then lots off stuff will change for everybody ...... IMHO 1 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted January 25, 2012 Posted January 25, 2012 I totally hear ya! I don't want things to change but I am realistic enough to know that they will and we need to plan for both inflation and real economic growth. The Philippines has a lot of potential. I read about them being a strong economy by 2050 and I do not doubt that. My only concern is how fast it will happen and how to keep up with cost of living increases on a fixed income.I have believed for a long time that we are the last generation who will have the opportunity of cheap living here. When my 18 year old son turns 50 I doubt he will be coming to the Philippines for cheap living and loving. 1 Link to comment Share on other sites More sharing options...
Art2ro Posted January 25, 2012 Posted January 25, 2012 Currency wise, money is relative to every country, no problems there! It's just the cost of living that may increase over the coming years in the Philippines, but slightly not what one have experience in California in the U.S. where cost of everything was way out of line and now they are biting the bullet with the screwed up recession! In the Philippines, it's the price of gas, housing market and cost of imported goods that have sky rocketed in the past 10 years, I know because we've been here the past 13 years and experienced the increase, but the key word is, relative because 30, 40 years ago salaries or pensions were low relative to the local economy and that goes true today, but with higher salaries or pensions with a low cost of living here in the Philippines vs 1st world countries! So, if your salary or pension hasn't caught up with the times, your retirement pension may fall short and that's the reason why people are working longer and retiring at an older age! And if one is disabled and on a fixed income, an overseas residence may help defray the cost of living and doesn't necessarily mean in the Philippines, because there maybe other places that maybe even cheaper to live and it just could be in one's own back yard, or not! 2 Link to comment Share on other sites More sharing options...
Mike S Posted January 25, 2012 Posted January 25, 2012 (edited) I read about them being a strong economy by 2050 Holy crap Dave ...... by then me an ol' Jake will be on a bland diet and sipping enfameal through a straw ....... here Jake I got us some coupons ...I especially like the gas and fussiness ..... Hey Jake .... Edited January 25, 2012 by Mike S 1 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted January 25, 2012 Posted January 25, 2012 Holy crap Dave ...... by then me an ol' Jake will be on a bland diet and sipping enfameal through a straw ....... here Jake I got us some coupons ... Its a long way away and, God willing, I'll be 95 then but I will still need food and shelter and still have the same fixed income. So hang onto those coupons for me. I may need them. Link to comment Share on other sites More sharing options...
Jollygoodfellow Posted January 25, 2012 Posted January 25, 2012 Holy crap Dave ...... by then me an ol' Jake will be on a bland diet and sipping enfameal through a straw ....... here Jake I got us some coupons ... Its a long way away and, God willing, I'll be 95 then but I will still need food and shelter and still have the same fixed income. So hang onto those coupons for me. I may need them.Dave at 95, fish soup and rice is all you will need so I doubt that it will be too expensive even then. Cardboard boxes; probably will be around even when your 95 so shelter, no problem. Dont worry, there's always a way. :tiphat: Link to comment Share on other sites More sharing options...
Tukaram (Tim) Posted January 25, 2012 Posted January 25, 2012 If they go through some amazing transformation and get like South Korea then a fixed income could be a problem. But I have some friends that live in India and they have run into some prices in the larger cities like Mumbai and Delhi. But out in the provinces everything is still cheap. The jobs are in the city and that's where prices went up. If they move to Mayapur or Vrindavan and it's cheap. But I'd rather live in the PI's.But if you retire too early, like I want to, just average inflation can eat away at your buying power. It would some major changes for them to really take off, but there is a lot of potential there. As long as not too many major manufacturers move their factories over there it should be ok for quite a while.So maybe Cebu and Manilla could get too expensive in the future but there will always be the outback. And there is so much corruption I think that is holding them back. I think most American corruption came after we got prosperous. Now the vultures are just feeding off the carcass. 2 Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted January 25, 2012 Forum Support Posted January 25, 2012 Things are not likely to change IMO.What is of interest are China, energy and the slow failure of the USA.http://www.bloomberg.com/news/2012-01-25/philippine-deficit-widens-as-government-spends-to-aid-growth-2-.html 1 Link to comment Share on other sites More sharing options...
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