Filipino Population In The United States

[JJReyes]

Medic Mike asked the question about the population of Cebu City for a presentation. I am also working on a presentation on retirement in the Philippines to be presented during the November meeting of the Philippine Chambers of Commerce in the United States. I thought forum members might find my preliminary research interesting.

 

Fil-Am Retirees

 

US Census estimates the Filipino and part Filipino population to be 3.4 million. State Department numbers are higher at nearly 4.0 million, but this includes informal residents and undocumented workers, otherwise known as TNTs (Tago-Ng-Tago). Filipino alone, according to US Census is 2,555,923 as of June 2011. The following is the demographic distribution in the top ten states: 

 

California - 1,195,580

Hawaii - 197,497

Illinois - 114,724

New Jersey - 110,650

New York - 104,287

Texas - 103,074

Nevada - 98,351

Washington - 91,367

Florida - 90,223

Virginia - 66,963

 

Filipino median household income is $75,146, which is the second highest among ethnic populations and more than the national average of $50,221. Filipino households also have a higher proportion of owner-occupied homes at 63.6%. A typical Filipino household consists of three or more persons.

 

Total retirement income is unknown. The Social Security Administration 2013 average retiree benefit is $1,262 a month. Many American have either a defined benefit or defined contribution pension plan and personal savings, which includes cash, stocks, bonds, precious metals and collectibles. The single largest asset is home ownership. Typical mortgage is 30 years. The home is usually fully paid before retirement. Many Americans with an empty nest sell the family home and relocate to a warmer climate region known as the Sunbelt or relocate overseas. In places like Florida, they will replace the family home with a one or two bedroom condominium.  

 

Approximately 1.7 million are Fil-Ams, defined as someone born in the Philippines who later changed their citizenship. The American population who are 65 and older is 13.7%. The potential size of the Fil-Am retirement market is therefore 232,900. 

 

There is a strong desire among retiring Fil-Ams to return home to the Philippine. What prevents doing this are two issues.

 

1. While the Social Security Administration will forward benefits to any bank in the world except those in North Korea and Cuba, Medicare benefits stops at the US border. The only exception are residents of Guam who are permitted to go to the Philippines for medical treatment.

 

2. The fear of Philippine relatives who are waiting with their palms up for the arrival of their rich American kins. The constant barrage requesting for handouts and loans is discouraging. Even with some level of generosity, it is never enough. The criticism is the needs are great and why are the American relatives being such tightwads.

 

The solution is a healthcare program to replace, at no additional cost to retirees, the Medicare insurance program. Retiring inside gated communities where security personnel are not permitted to disclose the identity of the resident population is one way to avoid excessive contact with Philippine relatives.  

 

(A private Philippine health insurance company is interested in designing a substitute program to replace Medicare.)  

Edited July 21, 2013 by JJReyes

[Bruce]

Well that is better than I am doing. JJ, PLEASE adopt me :nudie:

[JJReyes]

Sorry Bruce. Culturally unacceptable since you are older than I am. Fil-Ams are avoiding the Philippines precisely because too many relatives are looking for handouts. Lucky for me family members are richer than I am. So far, showing them the palm of my hand in a begging gesture has not worked. So I will pass on the idea of adding relatives from Florida. 

 

By the way, I just found out a first cousin resides in Florida where she works as a nurse.

[MacBubba]

Lucky for me family members are richer than I am.

 

I am sometimes reminded by my wife that when we settle in the Philippines, we will live no more extravagantly than we do in North America (not that we live that way here anyway), just because our dollars will stretch farther.  No sense in trying to match the living standards of her relatives and friends, who can afford it more than we can.  She just wants to shatter any delusions I might have.

Edited July 21, 2013 by MacBubba