Crazy Or Logical Choice?

[Rawk85]

First post trying to decide weather if pulling up roots in Canada where I work 11 months a year with one month vacation for 225k a year in favor of being in phil for 6 months then return to Canada two months to make 50k then return to Phil for 6 months or more if possible rinse and repeat... On trips to Canada living expenses and accommodate would be covered. Im only 26 so not looking a never working again since only have lil over 200k of sold everything in Canada I will just store cars trucks and rent my home out here to cover mortgage and provide extra 1500 a month cash flow ... My girlfriend was born in Phil but raised in Canada we went to visit her family in pangasinan last year I liked it but if I was to move to Phil I'd like to be somewhere closer to modernish ammenties like Manila has but less crowded and less pollution and near relaxing beaches ... Does this exists? Also is with my budget able to live in nice safe place? Does my idea sound crazy ? Plz help with any tips

[jode]

Wow what a great income for such a young guy especially. With a few more years like you have been having you could save enough to buy your own island here and make your own tropical paradise. i saw several nice islands for sale when i was in palawan.

Your situation makes me think of so many millions who got in trouble in U.S. when they made their future plans. They made financial decisions assuming that the best of times would continue for them forever. I think it is more prudent to make long term financial decisions based on average or worst of times. Then if things turn out better than that you have alot of excess to play with, and no matter what the future holds you will be ok. Rather than assume boom times forever then when things turn south you are in trouble.

A saying of my canadian farm raised father was "make hay while the sun shines". The sun sure seems to be shining on you now. Don't assume the sun will be shining tomorrow. It may be raining and your oppurtunity is lost to stockpile for your future needs. Life is long and you are making ten times more than many other smart young people. If i were you I would continue doing that as long as you can. You can never have enough savings. If you do someday you can have your money do your earning for you and if canada is like usa even enjoy a lower tax rate than those who have to work themselves for their earnings.

Edited May 29, 2012 by jode

[Rawk85]

Thanks for the reply not looking for an island but just thinking life in the Phil would give me a lot more free time to enjoy my youth instead of working it away in remote area where it gets -30 to -40 During winter .. When I'd come to Canada to work is during there summer and Phil's rainy season

[cebu rocks]

dude do it . I do the same 6months is about right then you will want to go home

[Jack Peterson]

One Question if I may ask. What does your Girlfriend Think about it.? That should tell you something.

[i am bob]

With what you are making now and considering your age, I would look at going for 5 more years working with a month in the Philippines. That month will give you both time to visit family and also to explore to find where you would like to live. If you save as much as you can and invest it in a reasonably safe investment vehicle such as a mid-risk mutual fund, this will give you the financial nest egg you will need. Consider that you should have close to (if not more) than a $ miillion saved and invested. The interest off that will be enough to live on very very nicely in the Philippines. And then, after 5 years? You will have your choice if you want to return to work those 2 months or just enjoy yourself in the Philippines! Even in the rainy season, there are parts that aren't that wet and are great to visit! Or even just come home to Canada for a yearly visit of the family would be nice too!

One more question to answer too... If you come back to Canada for 2 months out of 8 to work, are you certain that the job will always be there?

And as Jack has said - the most important factor is what your girlfriend thinks too!

And welcome to the forum! :welcome:

[Call me bubba]

Will you have a BACK UP plan in case things dont go as planned?

are you aware of the "RISKS" of the extended family of them asking for $$, As your seen as a "walkng ATM"?

is your health good? would you need extra insurance?

are you aware of the various visas that are offered?

http://www.philippin...opic/12642-pra/

did you know that you can get a visa ahead of time and perhaps save $$ ?

are you aware that YOU are not allowed/permitted to own land/propertry unless its a CONDO ?

can you afford being taken advantage of and not having any recourse?

are you aware that your countries health plan coverage may end when you leave?(except in limited cases)

MOST OF all,in case your hurt or disabled would you have enough SOCIAL SECURITY coverage to help ? or other Long term insurance? yes accidents do happen, can you AFFORD to take the possible risks?

are you covered?

http://www.philippin...ing-the-family/

http://www.philippin...the-family-tax/

http://www.philippin...-of-philippines

my post is for you/others who may considered coming here is TO BE PREPARED.have a plan as some ppl who have come here have had a bad experience,

1. due in part to not having a plan

2. not prepared

3. being taken advantage of by others or from the extended family

4. unexpected health care issues,

Edited May 29, 2012 by Call me Bubba

[sjp52]

You are allowed to be out of the Country for up to 7 months and still be covered. I called the ohip office

[sjp52]

with an income that you have I would stay working and start banking as much as possible and when you get a nice nest egg then I would consider the move. Ideally you would like to have a big enough nest egg so that if you lost your job you could live off the interest. With your income now you could do that in 4 or 5 years and then be set for life.

[Dave Hounddriver]

we went to visit her family in pangasinan last year I liked it but

There will always be a 'but'. There is a reason why young people leave the Philippines to live in other countries and then come back when they are ready for retirement. The younger guys who seem happy in the Philippines either have some kind of employment here or they enjoy drinking and whoring.

Try it for a while, just don't burn your bridges.