Decision Time 2016. Crunch Time Now Or Later?

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Summary up to now: we live on my small US Pension and a fairly generous child allowance. Roughly 60,000 pesos/month. Child allowance runs 17 more years, will stop at that point. 

 

Life is good. But the 10, 000 pesos/month we allocate for savings gets consumed. We have a rather small savings for emergencies, but nothing for the long term.

 

I'm a born Aussie, may now collect the Age Pension (OAP) from our government. Unlike the USA, the rules are strict. The long version is complicated. The short explanation is that I will have to live in Australia for extended periods to maintain this pension. Pension is payable from Day 1 if present in Australia plus a 24 month resumption of residency. After 24 months I may leave with the pension intact, but will have reporting dates according to government regulations.

 

So again. I'm repeating this whole story for the second time, I will be going off to Australia for 24 months with the possibility of one exit under humanitarian grounds....and maybe another one with penalty, loss of pension for the number of days out of the country. But not to be repeated or extended, they might reset the whole 2 years.

 

The Aussie pension would give me around 68, 000 pesos a month or if later living in the Philippines, maybe 45-50 k a month after trimming of allowances. Health care is included and I will need to maintain that. Deduct also periodic trips back or maybe some longer stays. 

 

So guys. I'm 66 will be 67 in November. The pension will be 2 years overdue but not backdated.

 

I'm delaying my decision again. Maybe end of the year or Jan-Feb 2017.

 

What would you do in this situation?.

 

Apologies, many of you did reply the first time I posted. But the problem, the conundrum is still there

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I'm delaying my decision again. Maybe end of the year or Jan-Feb 2017.   What would you do in this situation?.   Apologies, many of you did reply the first time I posted. But the problem, the conundrum is still there

 

 

 Chris i have only 2 Questions at this time. Bearing in Mind the cost of Transportation and supporting yourself in Oz, with a Young Family here and all that goes with it.

My  1st Question is: What will be the Net result in cash terms when you enter this den of something you never had?

 

My 2nd Question is, Are you (Gina and the Kids of course as well) going to be happy with something that could return to a Long Distance Marriage?

 

For me and I have never (luckily) had to even think about this, if the net result is not going to be a big Amount then I would not even give it Head space.

 

Chris this is a Head Banger for you but think hard about the net results  The chasing of Money can get Expensive and again reduce that important net result.

I am sure you have all this in mind but as we tell each other all the Time, Money is not Everything.

Good Luck mate :thumbsup:

 

Jack :)

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My  1st Question is: What will be the Net result in cash terms when you enter this den of something you never had?  

 

After 2 years we could have a new car either cash or installment. Something we will need going forward with kids in school. Gina will live on about half of our current income. I can manage on the pension. That leaves about half our current income for savings.

 

Cost of travel and etc....currently saving to cover that.

 

My 2nd Question is, Are you (Gina and the Kids of course as well) going to be happy with something that could return to a Long Distance Marriage?

 

I don't know how to answer that. We have had 5 good up to amazing years, the relationship is stable, but in answer to your question. I do not know what might happen. Could go either way, i think. We could go stronger or the opposite.

 

For me and I have never (luckily) had to even think about this, if the net result is not going to be a big Amount then I would not even give it Head space.  

 

It is a big amount over time. But less so in the short term. It provides security over and above what we have now.

 

Chris this is a Head Banger for you but think hard about the net results  The chasing of Money can get Expensive and again reduce that important net result.

 

It is definitely a "Head Banger". But having the 2 small kids makes it more necessary to make the move. I have to do everything possible to provide their education and secure their future. 

 

Footnotes to above:

 

1. Discount Flights Manila-Darwin, Manila-Perth, Manila-Gold Coast, do run quite cheap, so even factoring that in, the result will be on the positive. I will actually base in Cairns, noted for it's low cost of living, whatever that means.

 

2. I will bring my bikes and use them for commuting. Will join a club and can in many ways enjoy a simila,r albeit single lifestyle.

 

3. Gina does absolutely everything for me, that's the hard part. I actually wonder if I could cope for a week or a month, let alone 2 years.

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 If its me, I'll bring her with me.

 

Our government has a penalty clause for that.  My pension is on single status, a larger amount.

 

If i sponsor Gina for immigration, the pension reverts to the married rate.Significantly lower.It is assumed that both parties will draw the Age Pension at some point. They do not consider her age and that she's 40 years from pension age.

 

As of now it doesn't work out. It might work out later down the road if she was appointed as my caregiver. But even then there's a 2 year lag in an immigrant being appointed as a caregiver.

 

 

It does not sound like you are delaying your decision.  This statement says you have made the decision.  It seems you are just procrastinating on implementing your decision.  

 

Correct Dave. I will be going at some point. But that doesn't mean to say I will stick out the 24 months. Maybe 6 months or less if it's not going well. But I can get my medical issues sorted out.

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I think we all understand your quandry but on face value, I wonder whether this is worth the upheaval it will cause to your family. Maybe try and work towards something that will give Gina additional income when the time comes for you to check out? I know she is one feisty and competent woman!

 

Agree on the feisty and competent, but unlike your partner Gina is not college level and consider where we are living. 

 

They (her sister and cousin and G.) have a project going now during the Fiesta season, BBQ, Halo Halo and etc....after my contribution we are already in the red, but they might get 100/day each.

 

It goes round and round mate, like your problem of where to live down the road.

 

I'm due to go home that's for sure. Whether I stay or not is another thing.[

 

quote name=mogo51' timestamp='1453104474' post='172341] You are allowed 4 weeks a year out of the country each year,

 

Sadly on resumption of residency you don't get 4 weeks/year. That's for DSP recipients under the new rules. I might get 2 weeks on appeal with loss of pension during the time out, but it's something.

 

As for being around long term. Our mutual acquaintance recently passed at 53. But I think I can go longer. That's today, not sure what tomorrow may bring.

 

Gina btw says go, she says the long term security is the priority. 

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I'm married and raising 4 daughters on about P40,000 per month or less sometimes. We don't have everything but we have enough and truly enjoy life.

 

Nice reply, thanks for taking the time.

 

Yeah, the quality of life can be good, even on 40 k...in the provinces, as with our situation, it works. Sometimes a bit hard mingling with cashed up Filipino's locally, a bit humbling when they roll up in a new car...husband and wife Phil AM SS recipients, you know how that goes,

 

Again though, it's a chance for me to lift myself back to where I was 5 years ago.

 

If Gina is the Gina I know, she's with me all the way,

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Summary up to now: we live on my small US Pension and a fairly generous child allowance. Roughly 60,000 pesos/month. Child allowance runs 17 more years, will stop at that point. 

 

Life is good. But the 10, 000 pesos/month we allocate for savings gets consumed. We have a rather small savings for emergencies, but nothing for the long term.

 

I'm a born Aussie, may now collect the Age Pension (OAP) from our government. Unlike the USA, the rules are strict. The long version is complicated. The short explanation is that I will have to live in Australia for extended periods to maintain this pension. Pension is payable from Day 1 if present in Australia plus a 24 month resumption of residency. After 24 months I may leave with the pension intact, but will have reporting dates according to government regulations.

 

So again. I'm repeating this whole story for the second time, I will be going off to Australia for 24 months with the possibility of one exit under humanitarian grounds....and maybe another one with penalty, loss of pension for the number of days out of the country. But not to be repeated or extended, they might reset the whole 2 years.

 

The Aussie pension would give me around 68, 000 pesos a month or if later living in the Philippines, maybe 45-50 k a month after trimming of allowances. Health care is included and I will need to maintain that. Deduct also periodic trips back or maybe some longer stays. 

 

So guys. I'm 66 will be 67 in November. The pension will be 2 years overdue but not backdated.

 

I'm delaying my decision again. Maybe end of the year or Jan-Feb 2017.

 

What would you do in this situation?.

 

Apologies, many of you did reply the first time I posted. But the problem, the conundrum is still there

I am from the States so as such do not face the decision or issues that you do. At the same time, I have many, many friends here in the islands that are from Australia.

 

Some have given up the retirement to live here while others have hung on and stayed in Aus to be able to collect more at a later date.

 

I'll share one persons story that pulls at my heart strings. I had a close friend from Collinsville, Queensland that I met while working at Swagman Hotel in Manila years ago.

 

He was faced with the same situation as you are now although he was several years older than you. He opted to stay here in the islands he loved with his wife only several days per year for that very reason. He wanted to hold out for a higher amount of some kind.

Last June, while on a visit here to the Philippines and just two days after our visit in Angeles, he died. Just simply died - down in the Mayon Volcano area.

Had he gone ahead and moved years ago he would have  been able to spend and really enjoy the remaining years of his life here where he loved it so much.

 

We all have to make decisions in life and just hope they are the right ones. If it were me, and loving these islands the way I do; I would move now.

In the end, the decision is yours and yours alone to make and you would know best how much you need to live here. I'm married and raising 4 daughters on about P40,000 per month or less sometimes. We don't have everything but we have enough and truly enjoy life.

Again, only you can know what is best to do.

 

 

 

Good Luck and Best Wishes

 

Nephi

 

 

 

How true Nephi, I have heard of so many same stories.  I recently lost a mate who hang out back in Oz for too long, only to finally sell up there, come back to Thailand and after 2 months contracted some mystery virus, died 24 hours later.

 

I will never forget the distress on his face, but I am also sad he did not get to enjoy it more here, as he also loved where he was.

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