Decision Time 2016. Crunch Time Now Or Later?

[AlwaysRt]

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.  

 

I am a bit confused on this first part, sorry. Are you saying the amount includes a child allowance that will be removed in 17 years? If so by how much? Or from that amount you are paying for a child and the current deduction goes away in 17 years?

Edited January 18, 2016 by AlwaysRt

[chris49]

 

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.  

 

I am a bit confused on this first part, sorry. Are you saying the amount includes a child allowance that will be removed in 17 years? If so by how much? Or from that amount you are paying for a child and the current deduction goes away in 17 years?

 

 

I am 66. Receiving SS. An SS recipient over 62 receives an allowance for each child under 18. If more than one child the allowance is split. I have a daughter 3 years old and a son who is 1 year old. The one year old gets his allowance until age 18. Therefore 17 more years.

 

Or if I die they still get it, but under a slightly different formula. Survivor's Benefits.

 

In my case, because I'm on the lower end of SS.....around $570/month...$285 each.

Edited January 18, 2016 by chris49

[scott h]

Tough decisions Chris, would your US pension provide enough to keep soul and body together?  

 

The ruthless bottom line is that if you remain in the Philippines, you will be at the mercy of PhilHealth, and any medical problem will be your last. As was said before the choice is quality or quantity? Stay in Philippines have quantity life with your loved ones but low quality. Return to OZ and its the reverse.

[chris49]

Tough decisions Chris, would your US pension provide enough to keep soul and body together?

 

No Scott, it's just over the minimum, a bit over $800/month, and the child allowance is the top up. Manageable, but not over the long term, and the rules on child allowance may change.

 

I was only in the USA 12 years, and few years in UK with the USAF and that's all that was counted for SS.

[AlwaysRt]

 

 

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.  

 

I am a bit confused on this first part, sorry. Are you saying the amount includes a child allowance that will be removed in 17 years? If so by how much? Or from that amount you are paying for a child and the current deduction goes away in 17 years?

 

 

I am 66. Receiving SS. An SS recipient over 62 receives an allowance for each child under 18. If more than one child the allowance is split. I have a daughter 3 years old and a son who is 1 year old. The one year old gets his allowance until age 18. Therefore 17 more years.

 

Or if I die they still get it, but under a slightly different formula. Survivor's Benefits.

 

In my case, because I'm on the lower end of SS.....around $570/month...$285 each.

 

 

It seems that locks you into a decision then, you have to supplement your income within the next 17 years (33k php/mo - at todays exchange rate - if it holds- is a big risk). The question then becomes do you go sooner and everyone suffers from lower quality of life (long distance relationship) but with some more 'stuff', or, enjoy being a family for 17 years when you may be more likely to want to go back for medical reasons anyway (not a certainty but a possibility based on age).

 

I do totally understand asking the question here, it is a coin flip decision that could make a person's head spin.

 

What about door number 3? The possibility of staying and supplementing income with part time internet teaching English for example? 

[chris49]

What about door number 3? The possibility of staying and supplementing income with part time internet teaching English for example?

 

You are on the right track. But not that one. I'm a nurse, have 40 years experience, retired.

 

Looking at the Age Care Industry in Australia. The entry is a short refresher course and employment part time in a nursing home, Australia gives $6500 per year unpenalised income to pensioners.

 

There's a lot of assumptions and questions about my age, but Australia has asked people to go back to work if physically able.

Edited January 18, 2016 by chris49

[Jollygoodfellow]

Will you still receive your US pension while on the Aussie pension? 

[AlwaysRt]

 

What about door number 3? The possibility of staying and supplementing income with part time internet teaching English for example?

 

You are on the right track. But not that one. I'm a nurse, have 40 years experience, retired.

 

Looking at the Age Care Industry in Australia. The entry is a short refresher course and employment part time in a nursing home, Australia gives $6500 per year unpenalised income to pensioners.

 

There's a lot of assumptions and questions about my age, but Australia has asked people to go back to work if physically able.

 

 

I was thinking of a way to increase income in the Phils so you could stay with your family, as apposed to increasing your 'separation pain compensation'. You only get one chance to see your kids grow up no matter what your age is.

[Jack Peterson]

Stay in Philippines have quantity life with your loved ones but low quality. Return to OZ and its the reverse.

 But is it? Bad English but as we say a Bird in the hand

[chris49]

Good replies each and every one of them.

 

Again, I will have to go back. There is a further element of when to make the move. 24 months is 24 months, like my first contract in Saudi which at the time it seemed like a lifetime, the years went by and 26 years is only a blip on the radar today.

 

Let's say end of 2016, Jan 2017, I give it a shot. Aim for 6 months and if it's not going well I will just come back. As for Gina and the kids, for the 5 amazing years she has given me, I reckon I should try to add some security to their future, They will respect me more (I think).

 

Rich Man, Poor Man, quality/quantity, all of the above.

 

Thanks for replies....and good night....bedtime at 8 here in the province.