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

[scott h]

All I can state is what I know to be a fact in MY CASE. Before I made the move from San Diego Ca. I looked at my life style there and then did the research if I could retire at 55, move to my wife's town in the Philippines WITH OUT any major change to my overall quality of life. We owned a home there, and own a home here. The income from my pension and other sources come out to about 43% of what we earned in the states. And so far  with few minor exceptions, my life really hasn't changed at all. I am not talking about traffic or noise or beggars or the other things that really piss us all off here, but the things that make life enjoyable.

 

Bottom line is that if you lived in a tent in your home country, you can live in one here cheaper. If you lived in a three bedroom house on an 5 acres of land with 3 horses you can do that here cheaper,,,but you might have to substitute Baboy for the horses lolol. If you lived in a 3 bedroom house and WANT to live in a tent here,,,you can do that to.

[Kuya John]

Can you live on $2000 a month in PI.

Lot's of retired people here in UK who would be willing to live on $2000 a month pension here in UK never mind PI..

I should of listened to dear old Dad, and immigrated to the States when I was younger enough!

Average pension here in UK is £6000 per year, unless you have a second works/ services pension.

The only other major benefit is the National Health Service which comes free (after your taxes etc).

That's fine, if the ambulance can get you hospital in time! The British health Service is having all sorts of problems right now!

And I for one are looking at other retirement options EG: Maybe moving to Philippines or elsewhere.

Edited December 16, 2014 by Kuya John

[stevewool]

WOW, WOW WOW, can i live on what ever i love these threads,

Some people cant live on what they earn each week and are forever in debt ,

I know what i will have in savings before the big move and i do know what i will have coming in each month too,

Its not $1000 and its not the silly figure of $2000, each to there own i say, if i do make it to my state pension i shall have that much money coming in i would not know what to do with it all,

Get yourself a good women, no a great women  who will manage on what you both have coming in each week or month,

With what we have each month we shall save quite a bit and that will be put away for our trips to different parts,

We may live a simple life but hay i have lived a very busy life it will be good to watch the world go by for a few months,

Save save save is all i can do for now, roll on the day we say bye bye to England ,

Hang about here my state pension kicks in in 10 years time , WOW  this thread will then be can i live on $12000 a month :thumbsup:

[stevewool]

Can you live on $2000 a month in PI.

Lot's of retired people here in UK who would be willing to live on $2000 a month pension here in UK never mind PI..

I should of listened to dear old Dad, and immigrated to the States when I was younger enough!

Average pension here in UK is £6000 per year, unless you have a second works/ services pension.

The only other major benefit is the National Health Service which comes free (after your taxes etc).

That's fine, if the ambulance can get you hospital in time! The British health Service is having all sorts of problems right now!

And I for one are looking at other retirement options EG: Maybe moving to Philippines or elsewhere.

John you are so right about the NHS, there are lots of folk i know that will not leave England because of this, i an a great believer that one day you will have to pay for the service like some sort of insurance policy, 

It will not keep me here,

[MikeB]

I almost never read about the costs of vehicle maintenance in these seemingly endless budgetary discussions. Although labor can be cheap I have found that imported parts, good tires, etc are not. There are cheaper parts but I've not had good luck with them. Driving here is unsafe enough w/o throwing an unsafe vehicle into the mix. A lot of guys think that they'll rely on public transportation and they've got it all figured out to the penny. I wonder how that works out long-term? I tried it for a year, got old fast.

[jon1]

I almost never read about the costs of vehicle maintenance in these seemingly endless budgetary discussions. Although labor can be cheap I have found that imported parts, good tires, etc are not. There are cheaper parts but I've not had good luck with them. Driving here is unsafe enough w/o throwing an unsafe vehicle into the mix. A lot of guys think that they'll rely on public transportation and they've got it all figured out to the penny. I wonder how that works out long-term? I tried it for a year, got old fast.

On vehicles,

 

My full coverage insurance 10,000p annual

Tires every 5 years, 35,000p (for 5 A/T or R/T Truck tires)

Fuel - 4000p/mo

Oil change - 2000p every 3-6 months (depending on mileage)

Tire rotation, alignment, balance - 1-2000p (as needed or annual)

Mechanic labor - 3-400p per hour

Parts - 1.25 X US Cost

Flat tire repair - 150p

 

I have had at least one vehicle (currently two) since 2007. I am not a public transport type of guy and hate to rely on it. I prefer flexibility = freedom of movement.

[MikeB]

Thanks, I forgot about insurance. I think mine is about p13k for a year. I don't spend as much for gas because I only drive when I have to but, living in the province with no good hospitals around,  I consider a reliable vehicle to be a necessity. 

[Thomas]

According to 2010 U.S. Census data, retirement-age Americans had a median annual income of $25,757.

Are you sure it's the median and not the average?

From what we hear in American documentaries  shown in Swedish TV, a lot of Americans have VERY low salaries, only 4 - 6 USD* per hour (!!!) so many have to have more than one full time work to manage.  So odd if they can afford any much to retirement funds.

 

* And 10 pounds in UK.   In Sweden the LOWEST ALLOWED salary for grown ups is around 94 SEK  (=ca 15 USD.)

 

BUT the documentaries tell also the salaty SPREADS between the lowest and the highest are much biger in both UK and USA, the top salaries are MUCH higher there than in Sweden.  So totaly this can make the AVERAGE be better in USA and UK than in Sweden.

In Sweden the lowest retirement pay BEFORE tax deduction is only around 8 400 SEK  (=ca 1300 USD.)  BUT IF living in Sweden then is a big part of the rent subsidiesed for retired   - BUT expats moving to outside European Union DON'T get that rent subsidision !!!  :bash:

 

 

I would of course be sympathetic if you inform your wife or girlfriend that your monthly budget is only $1,000.

I have told my gf it will probably be only 30 - 40 000 pesos  plus "expats costs" , to reduce the expectations   :mocking:   and perhaps motivate her (/family if they will be involved)  to work harder in the business I plan to start in Phils.   This family are poor farmers and builders. For most Filipins 30 - 40 000 pesos is MUCH anyway...

 

(Except in startups when moving) I spend just a bit over 1000 USD per month IN SWEDEN normaly (for myself in a 6 room villa)  so I still believe I can manage to live OK of 1000 USD in Phils   :)     (IF I don't get high medical costs).

 

Edit: E g to pokermike:   For such low cost I HAVE also e g music instruments, billiard, a small sail boat...

Or more corect - I HAD the billiard and the sail boat.  I try to get rid of most things, preparing to move to Phils  :)

Edited December 16, 2014 by Thomas

[Thomas]

I agree with you Pokermike. If you act old you get old. I have seen some fellows that look like they are in their 80s and only are 60 and vice versa. The difference is the lifestyles. If they are out and about they stay mobile longer and healthier.

Well.  I agree about the red market text,

but I believe it will be the OPPOSITE effect if the green text is barlife   :mocking:

[JJReyes]

JJReyes, on 15 Dec 2014 - 10:04 AM, said: According to 2010 U.S. Census data, retirement-age Americans had a median annual income of $25,757. Are you sure it's the median and not the average?

Those who are in the poverty level are not counted because they don't file income tax returns. They also do not collect Social Security benefits because you need to contribute into this insurance program a minimum for 40 quarters or ten years to qualify. Certain religious groups can exempt themselves from contributing to Social Security. The examples include the Amish community, Catholic priests and nuns belonging to a religious order. The median retirement income appears to be higher because not everyone is included.

If you are the head of a household with a spouse and two children earning less than $22,000 a year, the federal government considers you to be at or below the poverty level. The threshold is higher for Alaska and Hawaii residents.

Edited December 16, 2014 by JJReyes