Retirement

[pokermike]

Well the time is coming close I am 65 and in very good health, but i know that can change quickly.  I am going to pack it soon , at the most one year and as ealry as six months. I still need to convince myself i will have enough to live on. I like to live near a city that i can get everything i want , but still escape to nature in an hour or so. I will be retiring with a 401k of $xxx,xxx US and a monthly income of $x300 a month from social security and $x500 a month that i get from one of my investments for life so $x800 per month.

 

I have following everyone about the costs of living there ,but so far for me on my visits it has been all hotels and it has been expensive.especially the way i was jumping all around when i was there. If those are my normal costs i am in trouble. i would be willing to spend $1,000 per month for a rental if it was very nice, maybe close to the beach and a city with everything.

 

So far i seem to like Mactan the best but would like to find  beaches that might have longer stretches with out being all controlled by resorts. I am into physical fitness so that is a concern also ,  i can always swim a couple miles in the ocean but also would like to find some mountain climbing or some difficult hikes and still be safe. Even with that i still need a gym somewhere close by. I guess thats alot to expect but i will settle for a little less if i can find other new hobbies.

 

Currently i am need of a studio or a one bedroom in Manilla close to the US embassy waiting for my wife Marical to get her visa to come join me for a little while here in the states.

Thanks for  any help you can give me , wow long first post,  once again i ahve really enjoyed following everyone for this past year plus                          Poker mike

Edited February 3, 2013 by Jake
edited to hide actual income

[OnMyWay]

Mike, while you are staying in Manila you should run up to Subic Bay and see if you might like it.  It has a lot to offer.

 

Your budget is very good unless you are very extravagant.  If I were you I would try to live on $2500 a month or less, and invest the rest for a rainy day!   :thumbsup:

[Jake]

Well the time is coming close I am 65 and in very good health, but i know that can change quickly.  I am going to pack it soon , at the most one year and as ealry as six months. I still need to convince myself i will have enough to live on. I like to live near a city that i can get everything i want , but still escape to nature in an hour or so. I will be retiring with a 401k of $xxx,xxx US and a monthly income of $x300 a month from social security and $x500 a month that i get from one of my investments for life so $x800 per month.

 

I have following everyone about the costs of living there ,but so far for me on my visits it has been all hotels and it has been expensive.especially the way i was jumping all around when i was there. If those are my normal costs i am in trouble. i would be willing to spend $1,000 per month for a rental if it was very nice, maybe close to the beach and a city with everything.

 

So far i seem to like Mactan the best but would like to find  beaches that might have longer stretches with out being all controlled by resorts. I am into physical fitness so that is a concern also ,  i can always swim a couple miles in the ocean but also would like to find some mountain climbing or some difficult hikes and still be safe. Even with that i still need a gym somewhere close by. I guess thats alot to expect but i will settle for a little less if i can find other new hobbies.

 

Currently i am need of a studio or a one bedroom in Manilla close to the US embassy waiting for my wife Marical to get her visa to come join me for a little while here in the states.

Thanks for  any help you can give me , wow long first post,  once again i ahve really enjoyed following everyone for this past year plus                          Poker mike

Hello Poker Mike,

 

Without your permission, I took the liberty of editing your post above to hide your actual monthly income.

You never know who might be lurking here, with the possibility of meeting you at the airport.  Good thing

your avatar and display name remains obscured.  

 

Please follow On My Way's advice about banking majority of your monthly income for savings and any

other emergencies.  Watch your six and keep a very low profile, OK?

 

Welcome aboard sir -- Jake

[JJReyes]

Independent senior living is the first stage of retirement. Please keep in mind that, according to the US Department of Health & Human Services, seventy percent of Americans who reach 65 will need assisted living and skilled nursing care during their remaining lifetime. You are actually in a good location because the Philippines can offer healthcare services at a low price.  

 

More problematic is the rate of US inflation and devaluation of the US dollar. It can be a double whammy because your retirement income is from the United States while your expenditures are overseas in the Philippines.