Disabled vet expat-to-be: Wants expat friendly beachfront but no children?

[Jack Peterson]

10 minutes ago, AwesomeLife said:

If I did buy, I would no longer have a rent payment yet taxes/utilities/insurance/maintenance would remain. 

Ah now there is a stumbling Block You will need a wife or a very trusted GF to buy anything other than a Condo. Sorry if things get negative in places But it is what it is here, "Boots on the Ground" is a favorite saying here. It really is a live and learn programe. Best of Luck My friend 

[JJReyes]

1 hour ago, Dave Hounddriver said:

That sounds a lot like my friend Scott, (may he R.I.P. with his 401K still intact).  To be blunt, you can't take it with you so make a plan when you will spend it and try to get the maximum enjoyment out of it.

My rationale approach to this issue is to look at US Census figures that estimated, at the time of our retirement, the average remaining life of a 65 years old male is 18.5 years and a 65 years old female is 20.5 years. An additional 5 years were added for good measure. Then my son and I worked on the actuarial tables to figure out how much we can spend per year. If we run out of money before running out of life, our children have offered to take care of us. Hopefully, this will never happen.

If either my wife or I should need assisted living, the plan is to relocate to the Philippines. For the same budget as independent living, we can afford caregivers.

 

[Dave Hounddriver]

1 minute ago, JJReyes said:

My rationale approach to this issue is to look at US Census figures that estimated, at the time of our retirement, the average remaining life of a 65 years old male is 18.5 years and a 65 years old female is 20.5 years.

And if you are living in the US that is a good approach.  But use the figures for living in Philippines and you will get different results.  I have known  lot of male friends to pass away here in Philippines.  I do not know any who made it 18.5 years past age 65.  Not one.  I'm sure there may be some, I just don't know them.

[JJReyes]

2 minutes ago, Dave Hounddriver said:

I do not know any who made it 18.5 years past age 65.  Not one.  I'm sure there may be some, I just don't know them.

Spending your days at a beach or bar drinking beer may have some effect on longevity. 

[robert k]

27 minutes ago, AwesomeLife said:

Thanks everyone.  I understand my post was long winded so I'll attempt to summarize.  Let me start with a disclaimer, the plan isn't to liquidate my wealth to buy a lavish home.  The plan will start with a week long trip this summer, if I like what I see I will book a several weeks long trip after my job ends, if I still like what I see, sell my belongings to move there and rent for a while.  Then if I found the right opportunity to "buy" a home that a home would appreciate I'd consider withdrawing up to half of my 401K (which would already be rolled over to an IRA) to buy a home with careful consideration.  That time may never come and I may rent for a year, head back to the US or just decide to continue renting year to year.  If I did buy, I would no longer have a rent payment yet taxes/utilities/insurance/maintenance would remain.  I do not have any mobility issues.

I wish you luck, I really do. The thing is, if it's a really nice place for you, it's a nice place for someone else and there are easily 100 Million people in the Philippines. As to condos, look at some 15 year old condos and decide if you think they have appreciated. Condos that actually might appreciate would in my opinion cost your entire nest egg if not more. There are people from Hawaii who have commented that decently placed land in the Philippines is expensive by their standards. Let that sink in. Now you are asking walking distance to shopping and beach? Puerto Galera , you did your homework there, is in my opinion [this based on much hearsay and a few visits] is probably going to afford the closest you are going to get to what you want. Even there I consider it likely you will be short of cash or...really good at walking with groceries or more likely, don't mind a long walk to the beach of 5 kilometers each way, or so. Maybe a bicycle or hiring trikes is a solution. Have to remember that tourist towns are expensive until you have settled in and PG is a tourist town. I try really hard to avoid tourist spots, not because of money, but because they are tourist spots, but they do cost more.

[Jack Peterson]

7 minutes ago, JJReyes said:

Spending your days at a beach or bar drinking beer may have some effect on longevity. 

  +  = 70 years old in 2 weeks  i'll drink to that   

[Old55]

14 minutes ago, JJReyes said:

Spending your days at a beach or bar drinking beer may have some effect on longevity. 

I'm in......

[AwesomeLife]

42 minutes ago, Jack Peterson said:

Ah now there is a stumbling Block You will need a wife or a very trusted GF to buy anything other than a Condo. Sorry if things get negative in places But it is what it is here, "Boots on the Ground" is a favorite saying here. It really is a live and learn programe. Best of Luck My friend 

You're not negative in that I can "lease" land for UP to 75 years or go the corporation route if that's available in that location; I couldn't agree with your more, point of me posting is to develop my boots on the ground itinerary.  

[Tukaram (Tim)]

5 hours ago, Dave Hounddriver said:

And if you are living in the US that is a good approach.  But use the figures for living in Philippines and you will get different results.  I have known  lot of male friends to pass away here in Philippines.  I do not know any who made it 18.5 years past age 65.  Not one.  I'm sure there may be some, I just don't know them.

No kidding. I don't know any past 75. The oldest I knew was 72... and he did not make 73...

[Dave Hounddriver]

1 hour ago, Tukaram (Tim) said:

I don't know any past 75.

I knew a couple who got up to about 78 but none that I knew well made it past that age.  Could be because I just don't socialize with people over 80 but I don't think that is the case as I have belonged to a couple of group with members of all ages and none of them were over 80.  Could it be that they all stay home and vegetate when they get to age 80?  Hmmm, methinks they just kick of early over here, but best of luck to a few of my friends who are mid 70's   we won't write them off prematurely.