Is A Comfortable Lifestyle Possible?

[Tukaram (Tim)]

I should write a book on how NOT to retire ha ha...  I am not retired, just quit working.  I have no emergency fund, except some credit cards, for emergency use.  I get $800 a month, and have been comfortable.  We just built a house - so with no rent my budget is p20,000 a month. (but I am putting some in savings to pay myself back the construction cost).

 

No one can tell you how much you need, but let's just say I know a lot of guys making here fine on a lot less than you will have.

 

I just saw a video recently on YouTube and some expat said he spends p150,000 a month and barely survives on it.  And that anyone that tells you it cost less is lying to you ha ha...  So everyone has to find their level of comfort  :tiphat:

[chris49]

Duff. You are a good candidate to live in an Apartelle, by day, week or month. Air con, Cable TV, Wi Fi double bed, hot water shower. Usually some discount over a month. Possiblity of cooking but not necessarily. It's more fun eating exploring when you first get here.

A few times a week I go out for breakfast. 50-60 pesos will often hold me even for lunch.

[intrepid]

the following 20 years in the 'old bill' is the thankless occupation i refer to.

 

Congratulations on your retirement.  I wasn’t sure of the “old Bill” but after looking it up I was right.  I can understand and I said the same thing where I retired from the same thankless job.  Mine was a mid-sized local department with about 300 employees.  The thankless part here is from our own department and government.  I got most thanks from our citizens who had been helped.  After 35 years it is good to be away and feel done.  Just retired about a month and don’t miss it a bit.  I have enough to keep me busy for two lives!  As I said in another post, I worked to live, not lived to work.  Yes I may have missed some of the excitement if I retired earlier but at age 55,…been there, done that, don’t need it any more!

:Policeman:

[scott h]

I'll chime in on this. Like has been mentioned, this is a understandably recurring topic and usually upper most in the minds of those thinking about making a radical life changing decision. So the short answer is:

 

Maybe yes, maybe no :thumbsup:

 

It really all depends on you. We probably have 40-50 active members who post regularly and you'll get 40-50 some what different answers. One thing though that stuck out.

 

I've scoured Rent.PH, and I'm getting a feel of whats available accommodation wise, but as for regions, I imagine my look-see will answer that for me.

 

Searching online will give you a general feel for stuff, but usually they are designed for folks who have not been on the ground, you will probably be able to find stuff much cheaper once you get familiar with your area of choice.

 

But just to put your mind at rest, looking at your pension, and assuming that you will have (hopefully) a sizeable nest egg and emergency fund and also assuming you are not some type of wild eyed party animal you should do quite nicely here.

 

Oh, just to head off the topic that you will probably start down the road. If your single, you wont be for long, I guarantee it. You my friend are prime "meat on the hoof" as us yanks say. But we can discuss that later :hystery:

[chris49]

Oh, just to head off the topic that you will probably start down the road. If your single, you wont be for long, I guarantee it. You my friend are prime "meat on the hoof" as us yanks say. But we can discuss that later

 

Some of these girls, the type you might meet, have not had a chance to get home to their original homes in a number of years. I met a few with a child who had seen the child at birth and maybe once more over a period of years. One of the first things is they will tell you is that they want to make a visit home. This presents you with a unique opportunity to see a part of the Philippines others have not seen, the real Philippines, if you look at it in that way. Make sure you like the girl first before deciding to accompany her.

[SubicSteve]

How much will 1500 be worth in 5 years? 10 years? 15 years? 20 years?

 

I was just talking with a Norwegian yesterday and his currency has lost 25% since last year against the Peso.  My electric, gasoline and most of my western style groceries cost more here than back in NY.  Yes it can be done on your pension but for how long.  Do you have free medical with your pension?  Is the medical valid if you move outside of your country?

 

Rent out your place and come on over here and see if you can live on your pension and not touch your savings.  Remember, you will also need to pay visa costs and a visa run every 36 months. 

 

And with millions of beautiful Filipinas here, it won't be long before you find yourself with one of them attached at your hip.  Even if your not looking to get attached, it will happen(its a good thing).  Now your expenses have gone up.  And what Filipina doesn't want a baby?  Again more money but worth every penny.  I am not trying to scare you but I see so many guys here that never really thought this out and moved here and now they are financially strapped and can't afford to go "home" and start over.

 

 

So, come on over and get your feet wet.  I'll buy you a beer if you come to subic.  I can even introduce you to some great hard working Filipinas.

[Tukaram (Tim)]

How much will 1500 be worth in 5 years? 10 years? 15 years? 20 years?

That is why I am glad I have staggered retirements.  One at 55, the big one at 60, and then Social Security at 62'ish.  Hopefully I can at least keep up with inflation.  :tiphat:

[sonjack2847]

 

How much will 1500 be worth in 5 years? 10 years? 15 years? 20 years?

That is why I am glad I have staggered retirements.  One at 55, the big one at 60, and then Social Security at 62'ish.  Hopefully I can at least keep up with inflation.  :tiphat:

 

This is the same situation I am in. I will get 3 very small pensions in January and SS in 12 years. I still own a house in the UK which is rented out.

[Gerald Glatt]

$1500 in 15 years is worth $1500.  Was siting at the bar (go figure) at the American Legion one evening when a political expert made the statement that the dollar was worth $0.64.  I saw heads nodding in agreement, but something struct me as wrong, so I looked around and gathered seventy cents slide it down the bar and took a dollar from him. Told him he could keep the change and asked if I could help him more the next day.

 

Inflation seems to be worldwide, the difference between the US and Fil is 30-40% so if you can put 150-300 per month away you should be fine.  If not you can always fly back. One of the great things about the US is you won't starve, have to sleep on the street, or be unable to get medical care.  You may have to swallow all vestiges of pride and the fact that our country lied to  you in what they promised.

Here's hoping we both make it!  :cheersty:         

[No Duff]

I've got a rainy day fund, but my real equity is tied up in a little Yorkshire cottage (built in 1740), and I'm in a final salary scheme thats indexed linked, so £1500 will hopefully be more paying more in 5, 10, 15 or 20 years.

UK is NHS, free medical, so I would have to research a medical insurance policy - I'm normally OK, but I do suffer from chronic low back pain from time to time, I imagine the damp climate, the bullet proof vest and the utility belt are all contributing factors.

I've no immediate desire to be 'meat on the hoof', and you're making me scared now. I'm a man of the world, but I know when I'm happiest.

Thankyou for taking the time to respond, it's much appreciated