Making the Big Move!

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Posted

Dear Members

As some of you may know I have been working to a plan to move full time to the Philippines from Sept 2019. I currently work in Abu Dhabi and have done for the last 10 years. We have the house built, car in the drive, some farm land and a couple of businesses. In March this year I sent the wife and dogs back full time and I downsized myself into serviced accommodation so I could also send appliances and other stuff leaving me with an easy exit when I decide to go. The only thing left to do is sell the car here and send the money to Philippines to buy a second smaller car there.

Now to my point and request for advice. I have a good job here earning tax free money and my question is do any of you have any regrets that you may have stopped work too early? I know that, when the time comes, I will be financially okay in the Philippines but I do sometimes think is it wise to walk away from the money.

I look forward to hearing from anyone else who may have had the same thoughts but took the jump or anyone who stayed a bit longer and regretted it. I know I will be happy and we have paid for the big ticket items but money in the bank is security too.

Thanks for any input on this.

 

Paul

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Posted
5 minutes ago, PaulB said:

I have been working to a plan to move full time to the Philippines from Sept 2019.

 Paul, it is only 9 months away now, it sounds to me that you're in fact Ready to make that move right now, Yes! Money means a lot to many but you seem to have crossed the T's and dotted the i's, For me, it would be making Home where the Heart is, So I say ,Go for it.

 Having said that, Always have a Plan "B" I certainly do as we never know, Do we? :smile:

Whatever you decide mate I wish you the very best of Luck and say Stay Happy :thumbsup:

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Money comes in handy. I'll admit I jumped at the opportunity to come over here and another few thousand in the bank would have made life all that easier. That said I've got a pretty good life and soon my incoming money will exceed my outgoings and I'll be happy. If you've got a house and decent car, enough to feed yourself and for emergencies I'd say go for it.

One thing you can't earn more of is time with your family and life.  

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1 hour ago, PaulB said:

I will be financially okay in the Philippines but I do sometimes think is it wise to walk away from the money.

Paul if you have the big ticket items, the main thing is to do a budget and explain to the wife that is it when she wants to exceed it. They're very good at pouting and tamper chucking but stick to your guns. Also put a little away for emergency medical expenses, as you get older you will need them.

A lot of expats live quite comfortable on less than $1800 aust dollars per month, just change your lifestyle to suit your finance. At the end of the day money isn't everything and what time we have left should be enjoyed not a chore tied to work. :thumbsup:

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1 hour ago, PaulB said:

Now to my point and request for advice. I have a good job here earning tax free money and my question is do any of you have any regrets that you may have stopped work too early? I know that, when the time comes, I will be financially okay in the Philippines but I do sometimes think is it wise to walk away from the money.

Ahh, the last second thoughts period!  Been der, done dat!

You have your big ticket items taken care of.  You just need to make sure the rest of your financial plan is solid and will hold you and your family for many years to come.  If all those boxes are ticked, you are ready!

Regarding happiness, if all of those financial boxes are ticked off, do you think some extra money will make you happier?  Will staying on the job longer get you other benefits?  Better pension?  Travel benefits from your employer?  Etc.  Extra money gives you security but not really happiness.  I suspect you like to travel, so I would make sure to budget for a couple of trips every year.

If you found out tomorrow that you had 6 months to live, would you stay at work or go relax and have some fun?  Nobody knows how long we have on this earth, but I don't think any of us dream of working til the day we die.

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I been here almost 6 years. I was a single dad and the plan was to retire over here at 60 or 65... kids moved out when I was 48 and... well... here I am ha ha.

I quit work in 2012 (at 48) and just filed for retirement last month (won't kick in for a few months - 55).  Could/should I have waited?  Yeah, probably. But, and this is important to me, I have already had 6 great years here - while my health was good!  Later, when I am old and broken down, I can go back to my free healthcare in the US, or just enjoy my remaining years here.

The money has been kind of tight but easily doable.  My wife and I live on less than $1,000 USD a month.  This retirement (my first of 3) is only another $600, but better than a sharp stick in the eye.  

How much is "enough" is certainly different for everyone. As they say... up to you.  I could probably write the book on how not to retire to the PIs... but it has been fun so far.  :tiphat: 

 

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1 hour ago, Tukaram (Tim) said:

I been here almost 6 years. I was a single dad and the plan was to retire over here at 60 or 65... kids moved out when I was 48 and... well... here I am ha ha.

I quit work in 2012 (at 48) and just filed for retirement last month (won't kick in for a few months - 55).  Could/should I have waited?  Yeah, probably. But, and this is important to me, I have already had 6 great years here - while my health was good!  Later, when I am old and broken down, I can go back to my free healthcare in the US, or just enjoy my remaining years here.

The money has been kind of tight but easily doable.  My wife and I live on less than $1,000 USD a month.  This retirement (my first of 3) is only another $600, but better than a sharp stick in the eye.  

How much is "enough" is certainly different for everyone. As they say... up to you.  I could probably write the book on how not to retire to the PIs... but it has been fun so far.  :tiphat: 

 

I made the move at age 50 in 2002. Nervous as hell and unsure of myself. In my case...best move I ever made. I'm still here and have no regrets. You will adjust to the amount of money you have. If I had the chance to do it over again, I wouldn't change a thing. Except maybe winning the lotto. Good luck to you! 

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Like many have said ,how much is enough. 

i have just 2 more months in paid employment and some days my bum cheeks get a little tighter as I think have I done the right thing, but there is no going back, I have made my mind up and come what may I am going to retire.

I am sure the first few months I will be keeping a close eye on the funds but after so many years of planning for this day I am sure we will be fine no matter where we will be.  

Good luck in what ever you decide but I am sure there are more rich men then poor men buried in the graveyard.

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13 hours ago, stevewool said:

Good luck in what ever you decide but I am sure there are more rich men then poor men buried in the graveyard.

Very true - and how many of them would say I wish I had worked more and spent less time with my family if they could speak?  

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Posted
23 hours ago, PaulB said:

Dear Members

As some of you may know I have been working to a plan to move full time to the Philippines from Sept 2019. I currently work in Abu Dhabi and have done for the last 10 years. We have the house built, car in the drive, some farm land and a couple of businesses. In March this year I sent the wife and dogs back full time and I downsized myself into serviced accommodation so I could also send appliances and other stuff leaving me with an easy exit when I decide to go. The only thing left to do is sell the car here and send the money to Philippines to buy a second smaller car there.

Now to my point and request for advice. I have a good job here earning tax free money and my question is do any of you have any regrets that you may have stopped work too early? I know that, when the time comes, I will be financially okay in the Philippines but I do sometimes think is it wise to walk away from the money.

I look forward to hearing from anyone else who may have had the same thoughts but took the jump or anyone who stayed a bit longer and regretted it. I know I will be happy and we have paid for the big ticket items but money in the bank is security too.

Thanks for any input on this.

 

Paul

Hi Paul..... My take on this, also having worked in thd Middle East for more than 22 years, I'm only 51, and in October I decided to call it a day but on a temp basis, I made a plan, get out, and enjoy a 4 month break, finish work on the house, build my garden ect, after 2 months one thing I have learnt, you have to wind your neck in, I did the holiday thing for a month, as I have done for the last 8 years here, and painted everything red, then checked the bank, and I as thought, once here you cannot live that life which I knew, but wanted to prove it anyway, so I'm planning to start again in February, but look for short term contracts. Maybe 3 month ones. It's not just the money, I'm starting to get bored, need something to tax the old grey matter, I'm planning to do the contracting again for the next 5 years, now everything is finished here and paid for, it's money in the bank, and if I can get back here every 3 months for a month, great, but the wife will be with me anyway, as she has lived where ever I am for the last 7 years, I would say go for it, quick as you can and enjoy, if you get bored, look for short term contract work back in the Middle East 

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