Countdown To Retirement In The Philippines

[davewe]

I'm not Australian, although we are all considered kanos, so not much difference there :)

 

I will be retiring about the same time as you - 2017. I am married and each time we go to the Philippines (just got back this week) it gets harder and harder to return to the US.

 

I will have multiple buckets of funds to work with. I have been managing this cash for a little while now in anticipation of the retirement/move. Most financial planners recommend that if you have a combo of consistent payments + cash to withdraw as needed - that's best. So for me I will have my US Social Security and a tiny pension from my employer for monthly payments. I also have a modest retirement fund or two that I now manage and will continue to manage after I retire which I can withdraw from when I want or need to.

 

I also have the issue of a home in the US. For years the housing market was lousy but now it has heated up in my town, so I have decided to sell the home and place the profit in a separate fund that I can use if and when I purchase a house in the Philippines. As most recommend, we will rent first while we make sure we want to stay in whatever town we decide on before purchasing.

 

As to real estate, whether listed online or not, the price listed can be quite fluid. Not suggesting that someone be a jerk and offer a seller 1/2 price, but again it's not like the US where buyers and sellers are shielded from each other. You will in all likelihood meet the seller and sometimes a deal can be made for well below the initial asking price, especially if you will be paying cash.

 

For medical insurance; I will get Phil Health plus one of the overseas health plans. I have no current health issues but nevertheless medical services seems to be an important decision regarding where to live.

 

I am sure there are a million other issues, but those are my plans for now.

 

We will be living in either a provincial area or a small city; Manila and Cebu City are not for me. So this is a very important decision.

[Gerald Glatt]

For medical insurance;

 

Will you keep your Plan B medicare too?

[davewe]

 

For medical insurance;

 

Will you keep your Plan B medicare too?

 

There is no use for Plan B in the Philippines so why pay for it.