Living on a pension

[stevewool]

12 hours ago, stevewool said:

Remind me to change my picture

Do i look a little younger now

[stevewool]

11 hours ago, Kuya John said:

Give it to me!

Steve, only you and your wife EM can decide in the end. Yes we can share our own circumstances but we are all different with different needs and expectation's.

My own circumstances, is not about living in Philippines on my pension, but health issues now and as I get older.

At 58 I was reasonably fit and would of enjoyed these last 12 years living there, but there was all the "What if's".

So if your reasonably fit and so is Em's go for it, you have your house to come back too. Just my two cent's

 

With all the tongue and cheek stuff mainly from me , we do have a date in mind and yes i think i would like to go sooner, but i am reminded every day what i promised Ems , "10 years". i told her , but 8 years of that has gone by so quick, so not much longer really to wait

[stevewool]

On 07/12/2016 at 3:08 AM, bob1965 said:

It's interesting how most of us seem to think a similar way here. I'm looking at early retirement with a private pension too. In Canada it's a requirement for private pensions to allow you to retire at 55. But the one thing that may stop me is what a difference the three years after 55 make to my pension. It's not a simple increase per time, there are "landmarks" that increase the pension quite a bit and they're in one year increments.

So, knowing I can move on in 3 years and 9 months keeps me going and sane (yes, I'm counting). But when that day comes, I'll have to think hard about the increase for each additional year. 

In the meantime, 2 trips a year. Dumaguete past October. Bangkok in April. 

What are these increases that you may get each year, and surely if you are still there you are still paying in each month into the pension.

[bob1965]

Hi stevewool...

the increases are from reaching certain milestones in my pension plan. and yes, it is dependent on me still working and paying in. with my plan at least, we have the right to retire at 55 (as long as we are vested) regardless of how many years we have in the plan. but we only get a % of our pension dependent on years of paying in. so I can take a reduced pension at 55. earliest unreduced pension is 3 years later at 58 (30 years paying in).  and those last 3 years make a surprising difference in pension. as I said, when I look at the extra money, i'm not considering what I will need at 55. I have to consider the next couple of decades after that. but I certainly do appreciate the sentiment that nobody dies wishing they had worked longer.

[mogo51]

19 hours ago, Kuya John said:

Give it to me!

Steve, only you and your wife EM can decide in the end. Yes we can share our own circumstances but we are all different with different needs and expectation's.

My own circumstances, is not about living in Philippines on my pension, but health issues now and as I get older.

At 58 I was reasonably fit and would of enjoyed these last 12 years living there, but there was all the "What if's".

So if your reasonably fit and so is Em's go for it, you have your house to come back too. Just my two cent's

 

Stop queue jumping Kuya!!!

[Dr. Shiva]

I do get a disability pension of about US$ 1900.- per month for 3 persons. In my country (Switzerland) is it not possible to live with that amount at all. For the child I do get some additional pension, which will be gone when the child becomes adult. Therefore we plan to move to the Philippines to have an unchained life. Currently the goverment is watching our steps to see if I get some additional income just to take that away from me. They even warned my wife to disallow her stay in switzerland because of our very low income. And the house of my mother is in danger of loss also. It will have to be sold to pay back the social pension.

The rough selection will be a smaller to middle size. (Some choices: Davao, Dumaguete, Bayawan City, Ormoc City, Tagaytay and more)

My question is now if it is useful to have a car in a such city and with my pension of about US$ 1900? Or better just to use a motorbike?  Probably depends on the living cost in the area.

[mogo51]

I have a car and bike in Thailand on a much lower pension than that and we live quite well, but not outlandishly.  I have had the car for 2 year and have only done 9k kms. Still it is very useful for shopping and having the odd day out away from the city. Bike is my usual mode of transport as traffic is getting a problem here.

The cost of living between Thailand/Phillipines is very similar, you will live comfortably.

Edited December 15, 2016 by mogo51

[robert k]

Car vs. motorcycle has been discussed many times although I believe it has not been the topic title. There are cities where a car is convenient and more where it is not. When it is raining hard I want to be in a car. When more than two people are going I want a car. When I'm going a longer distance I want a car. When I'm going down town in a city that isn't made for car traffic I want a motorcycle, when I'm going to the sari store 1-2 km away, I want a motorcycle or I will walk. Almost forgot, if I and my family are in an accident I want to be in a cane truck. I think this gives a general idea. I have lived near a city with little to no parking for a car and yes they are not as useful there. My next choice of cities will be one with wider streets, where car parking is generally available.

[Old55]

Robert what an accurate and detailed answer! Well said sir.

[Nephi]

On 12/16/2016 at 6:04 AM, Dr. Shiva said:

I do get a disability pension of about US$ 1900.- per month for 3 persons. In my country (Switzerland) is it not possible to live with that amount at all. For the child I do get some additional pension, which will be gone when the child becomes adult. Therefore we plan to move to the Philippines to have an unchained life. Currently the goverment is watching our steps to see if I get some additional income just to take that away from me. They even warned my wife to disallow her stay in switzerland because of our very low income. And the house of my mother is in danger of loss also. It will have to be sold to pay back the social pension.

The rough selection will be a smaller to middle size. (Some choices: Davao, Dumaguete, Bayawan City, Ormoc City, Tagaytay and more)

My question is now if it is useful to have a car in a such city and with my pension of about US$ 1900? Or better just to use a motorbike?  Probably depends on the living cost in the area.

Your government sounds a lot like the US government. They will tax us until we can't survive and then still want more. It never ends it seems. Living in the areas you mentioned on Mindanao, personal safety can be a serious issue. For that reason alone I would suggest having a car with very dark tinted windows. No matter how you look at it, many of those areas are dangerous and especially for a foreigner. Now if you were to live up here on Luzon island, I would suggest you have both a car and a small motorbike. The bike for around town to save on gasoline and the car for any longer rides or trips.