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Part 2 - Can I Live On $2,000 A Month In The Philippines?


JJReyes

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According to 2010 U.S. Census data, retirement-age Americans had a median annual income of $25,757. More than 50% comes from Social Security benefits averaging $1,294 a month or $15,528 a year. The remainder presumably is from pensions, 401Ks, IRAs, and investments. While $2,146 per month sounds pretty bad for the United States, the situation improves for married couples who have a median annual income of $44,718 or $3,726 per month.

My assumption is the numbers are about the same for retirees from other industrialized countries. In preparing a Philippine retirement budget, $2,000 a month might be a more realistic number. I would of course be sympathetic if you inform your wife or girlfriend that your monthly budget is only $1,000.

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$2k is a bit like living on the edge during retirement, especially if you haven't paid off your home or if you have no cheaper, alternative living arrangements. Rent in places like Boston or Honolulu could easily set you back $1.5 k. Perhaps it's doable in Florida, Mississippi, or the Dakotas. I worry about disabled folks or widowed/divorced housewives who may not have earned money on their own and therefore have very little access to pensions and etc. My mom "lucked out" with my dad's DIC from the VA and other retirement income of his. It's no wonder why more and more senior citizens have signed up for the food drive where I volunteer.

$2k in the Philippines sounds more comfortable, as you can save at least $500 monthly for emergencies. As one gets older, medical and/or hospital bills rise up and it's a matter of when, not if, you'll have significant issues. Then there's the issue of natural and man-made disasters; expats should have a solid evac plan. Living on the edge at a young age is exciting, but past a certain age, one ideally needs and has earned a life of certainty.

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Living on the edge at a young age is exciting, but past a certain age, one ideally needs and has earned a life of certainty.

 

Living on the edge at any age is exciting.  This sounds vaguely like the old prejudice that Grandpa needs to sit on the porch and whittle away his old age.

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JJ my friend i think you are 100% correct , i also believe that living in the Philippines with just a decent life is $2,000 per month for a couple. I know that everyone doesnt have that kind of money. In that case if you dont,  i think anyone would be  better off staying in the US and taking advantage of food stamps and if possible get a part time job.

I have lived on the edge for many years of my life, it was ok, when i was younger because i knew there was a chance to recover. But now i am starting to play in safe. I want my family including my new wife and of course myself not to be on edge again.

Move to the Philippines to live better on your $2,000 a month, than the US. But if you dont have that kind of money stay home.

 

Later Poker Mike

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But what if your in a situation where you need more money to live on the edge?  The bar life can be expensive there!  

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Dave Houndriver, I wasn't saying that grandpas need to wither on the porch. Au contraire. In his sixties, my dad still travelled all over the world and was active in all sorts of adventures that even in my twenties I would not dare touch. The fact remains, though, that you do need money or at least a very good insurance for the possible ramifications of say, rock climbing, jet packing, capoeira, or skiing. Bones and knee caps at 18 are not the same as 60.

Eh, I guess I'm just paranoid android about the future and that when I retire, I'll still be able to maintain my current (inherited adrenaline junkie) lifestyle and be able to financially deal with its possible ramifications. I love living on the edge physically, but financially? Paranoid android with a heaping side of conservative :)

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UnCheckedOther you are dialed in. I know that i could survive on less than $2,000 a month there. I think i could even make the $1,000 mark , but i want to leave the house and not stay on the porch. I have worked too long not to enjoy my last days on this earth. I am an adventure junkie and there are a lot of places to visit there and explore.

When i first get there, i plan on living about a month in several different cities hope fully i will find something i like a little.  I will then sign a short lease and continue to look for my place to settle. i have already visited there many times and am starting to get a handle on the way i want to live there. I think the cost of living anywhere there is over $2,000 a month unless you are going to stay in your house 6 or 7 nights a week. I think its possible then to find someplaces where you could get by for maybe $500 a month. 

Personally i cant handle that, "never slow down never grow old", i need to be doing something.  Poker Mike

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Anyone know about cost of living in Banawa City?

 

I doubt if anyone can give you an answer other than the same answers that have been hashed out in similar topics. if you live the high life it will cost more, if you want to live in a squatter shack it will be far less. Your lifestyle plays a big part in cost, someone else living there may spend double that of what you might and the next guy might spend a third. Best to do a search of the topics, others have posted their budgets which will give you an idea of costs. Banawa is part of Cebu city so their is plenty of info here.

:thumbsup:

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