When to move with details inside.

[usa32]

4 hours ago, Arizona Kid said:

If you have 1 million bucks in the bank at 4% interest per year, wouldn't that translate to $40,000? Jeez. Maybe you should retire in Makati. I'm living on much less than that.

You will still have to pay some taxes on that to the old us government, since thats where the money is invested. 

So thats why i said 2k to 2500 a month. I checked out some apartments in makati, and some of them were 120k pesos a month, or like 2200 usd. I was like, who the hell is living here.

[Old55]

If you don’t buy more than you can comfortably walk away from simply live in Cebu for awhile you can always return to the States. As others have stated don’t burn your bridges.

Also if you have children you may choose to move back.   

[Howard]

11 hours ago, usa32 said:

You will still have to pay some taxes on that to the old us government, since thats where the money is invested. 

So thats why i said 2k to 2500 a month. I checked out some apartments in makati, and some of them were 120k pesos a month, or like 2200 usd. I was like, who the hell is living here.

You can use the APP called Carousell to find apartments in Manila whatever your budget. You can get it on the App Store or use the website.

https://www.carousell.ph

[jimeve]

12 hours ago, usa32 said:

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

Get a place near the beach, plenty of fresh air.

[Gary D]

13 hours ago, usa32 said:

 

So thats why i said 2k to 2500 a month. I checked out some apartments in makati, and some of them were 120k pesos a month, or like 2200 usd. I was like, who the hell is living here.

We were in Makati a couple of days ago and visited the Greenbelt Mall. As you approach the first two shops you see are Prada and Hermes. There's money there ok.

[hk blues]

16 hours ago, usa32 said:

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.

I'm just intrigued as to why here rather than somewhere else. Certainly, you can live cheaply here but I wonder how many guys your age think it's cheap. For most if us we're living a simple life because we're of a certain age but if I were 20 years younger I'd not be happy sitting at the Sari Sari store sipping a beer - I'd be in the westernised bars and paying accordingly. I'd just caution you that like for like it's really not significantly cheaper.

Certainly no winters - long, hot and humid summer instead! The weather is a plus but not as much as you may think.

The women - well, there are good and bad ones, like everywhere else but there are a fair few examples of gold diggers who can spot a target a mile off.

I'm not being deliberately negative, it's a great place to retire to and enjoy a slower pace of life IF that's all you're looking for, but it doesn't sound to me that it is.

 

[Snowy79]

From my perspective I retired here at 50 and brought 9m peso equivalent into the country.   I invested where I thought and has turned out to be a winner.  I purchased a condo on a holiday island that on a bad month turns over 70 peso per month.  By the end of next year it will have paid for itself, that's in under 4yrs.  I also have a small armed forces pension which in January next year matures and will go up by 2/3rds.  

I've lived in a few places from Manila to Oriental Mindoro and next month I'm moving to the holiday island.  My rent for a nice one bed studio apartment will be 25k peso, electricity about 5k and visa 1.5k peso per year (extended courtesy).  My investment and pension will mean I'm sorted.  Not a drinker and hate smoking.  

The only thing I'd warn you about here is the culture.  Yes means maybe, don't expect a business to return a call and there's plenty of women ready to help you spend your money. They'll have lots of great business ideas, don't listen to any of them and find a single orphan with no children. 

Apart from that live the dream.  If I was in your shoes knowing what I know now I'd go for it.  Get someone to take you under their wing for a bit.  Experience matters here. 

[Arizona Kid]

5 hours ago, Gary D said:

We were in Makati a couple of days ago and visited the Greenbelt Mall. As you approach the first two shops you see are Prada and Hermes. There's money there ok.

Good for Marcos cronies, Ninja cops, Politicians, etc. Not for us retirees!

[Arizona Kid]

6 hours ago, jimeve said:

Get a place near the beach, plenty of fresh air.

And plenty of dead animals and plastic trash washing up on the beach for you to enjoy.

[hk blues]

3 hours ago, Snowy79 said:

From my perspective I retired here at 50 and brought 9m peso equivalent into the country.   I invested where I thought and has turned out to be a winner.  I purchased a condo on a holiday island that on a bad month turns over 70 peso per month.  By the end of next year it will have paid for itself, that's in under 4yrs.  I also have a small armed forces pension which in January next year matures and will go up by 2/3rds.  

I've lived in a few places from Manila to Oriental Mindoro and next month I'm moving to the holiday island.  My rent for a nice one bed studio apartment will be 25k peso, electricity about 5k and visa 1.5k peso per year (extended courtesy).  My investment and pension will mean I'm sorted.  Not a drinker and hate smoking.  

The only thing I'd warn you about here is the culture.  Yes means maybe, don't expect a business to return a call and there's plenty of women ready to help you spend your money. They'll have lots of great business ideas, don't listen to any of them and find a single orphan with no children. 

Apart from that live the dream.  If I was in your shoes knowing what I know now I'd go for it.  Get someone to take you under their wing for a bit.  Experience matters here. 

Good to hear that your investment paid off big time Snowy.

But, very rarely will somebody see an investment in property pay for itself in only 4 years. I managed to do that in Hong Kong but that's a very special market compared to here.

Still, your story shows that now and again investing in something here can pay off.