When to move with details inside.

[Arizona Kid]

3 hours ago, jimeve said:

YES

No..I don't really care!

[Kuya John]

18 hours ago, jaybee said:

I was in your shoes many year ago, currently retired living in Cebu.

So you have a million dollars "in the bank"? I don't know how much interest the bank is paying you but if it is less than 7-8% and you are withdrawing 4% sooner or later you are going to run out of money.

Welcome to the Forum jaybee

Guess I can't use those initials anymore!! You state you are living currently living in Cebu, but your profile states Florida.?

However back to Opening Topic...usa 32,  a welcome from me to you too, although........

Your profile states your membership as  5 years 4 months and 18 days

How much is enough, lots of answers from our members and their  personal circumstances.

Money is only one of the many factors to take into account before a final step is made to make PI your home.

As a single person and financially stable, the world is your oyster. We often talk of a plan B, or even a plan C.

If I may say so, you could find as a younger person, that time being on your side you may well want to move on or if you you find that lady of your dreams, she may like to move on.

Often given is these words of advice, "Don't burn your bridges"

Just a poor man's advice......

Edited October 18, 2019 by Kuya John

[usa32]

14 hours ago, Gary D said:

You could live on $2000 a month now, how about 15-20 years time or even 40. Inflation is a lot higher in the Philippines than most western countries.

Very true. But investments in general keep up with inflation. The money would not just be sitting in a bank account.

[usa32]

14 hours ago, Marvin Boggs said:

I think the premise of your question may be flawed, here is why:  You amassed a large chunk already, and you are only 38.  I suspect you won't be content just sitting around...rather, you will find something here to put your energy into, and you'll find that it will be profitable.  Real estate, farming, merchandising, you name it.  I propose that your 'retirement' cash-out won't just be a dwindling resource.  Now would be the perfect opportunity to change things up and pursue a dream.

Yeah. I hear that.  However, based on research, I don't think I would invest in the Philippines whether in real estate or otherwise. Too many horror stories, where losing your money is the best thing that happened, and death is the worst.

[usa32]

14 hours ago, Tommy T. said:

Sonjack makes a very good point. Perhaps be sure to have enough credits to at least qualify for Social Security at "retirement" age? Even though it may not even exist then... Be sure to at least dump some extra cash into a Roth IRA if your tax situation permits that? Otherwise into a traditional IRA or other retirement investment. And keep a sharp eye on managing your investments.

Yeah, I have enough to qualify for social security, however, it would be at a much reduced rate if i retire early.  

[usa32]

13 hours ago, jaybee said:

 "Real estate, farming, merchandising, you name it"... this, depending on the op having talent or not for business, can be a recipe for disaster... My advice to the op, whatever you do, don't bring your nest egg to the Philippines, keep it in the US, working for you...

And by the way, a million dollar conservative portfolio producing 4% per year is not a "dwindling resource".

Correct. The goal would be to not touch the principal.  Until I have a better idea, what I might get from Social security or an inheritance.  

[usa32]

13 hours ago, sonjack2847 said:

And breath in all the fumes caused by traffic.

I assume if i move there, i will live a few less years, based solely on pollution. One of the drawbacks. ha

[usa32]

10 hours ago, Gary D said:

We were in Makati Manila the last two days sorting out my HSBC  account. Whilst there we had a look around the Greenbelt mall, there were some very nice ladies also walking around, man I bet they are high maintenance.

Yeah, I saw some of those too while there. Those girls, may not even be attainable for a foreigner, but even if they were, those are the opposite of what you would want to date.

They were all about status/handbags etc,  same as you have in america.

[hk blues]

10 minutes ago, usa32 said:

 But investments in general keep up with inflation. 

Good ones, yes!  

[usa32]

8 hours ago, hk blues said:

I'd be approaching it from the perspective of why here?  For most of us who are here, we didn't necessarily choose the place rather our partners are from here.  Next, what is the motivation to come here at all - if it's just because it seems easier to date and living costs are cheaper, I'd say don't be so sure about that - and the two can be directly related - plenty of high maintenance women here who have expensive tastes, especially of the rich, young foreigner is paying.  As some have already mentioned, if you want to live a relatively comfortable life here the costs rack up quickly!

As for your budget, assuming no further financial crises, you would be OK IF you keep a close eye on your budget.  But, you have a lot of life ahead of you and wonder if the place has enough to keep you happy and busy.

If it were me, I wouldn't be doing it at this moment. 

If i did. it would still be another 2 years out, as I would have liquidate.

With that said the reason for me living there is simple.

Early retirement/cheaper living. no winters. And of course the women.