When to move with details inside.

[jimeve]

2 hours ago, Arizona Kid said:

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

Nope, not in the Bisayas. I live near a Marine sanctuary were you can see lots of tropical fish and if you're lucky a turtle. We don't all live in Manila, kid. And if I wanted I could sail to Apo island, a world class dive site. 

[usa32]

6 hours ago, hk blues said:

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.

 

I understand what your saying. It can be cheap. apples for apples, its probably the same. as in I live in a huge house, that probably doesn't even exist there of similar build quality. So obviously my lifestyle would be dialed back quite a bit. Plenty of gold diggers there, I have no doubt. However, at least for me, being a balding , slightly overweight white guy in the usa,   vs. there in the Philippines, i dont think anyone would argue my options would be plentiful there, and here, not so much. Especially, if you want a slim woman, with a semi-decent attitude. That's a big draw for me, as it is for others. The fact I could retire early and live a simpler life appeals to me as well. As well, as being SE asia, it would be alot easier for me to travel to some other countries I want to check out, thailand, vietnam, Singapore etc.

Those are the main reasons.

 

[Gentleman.Jack.Darby]

On 10/17/2019 at 11:50 AM, usa32 said:

As my last post stated, I took my first trip in feb of this year, had a good time, and plan on another trip next year.

The question here is when to move permanently? And what would you do if you were in my shoes.

Im currently 38 from usa, with a decent job. Single, never married.

If I were to cash out everything now, I may have somewhere between 900k and a million dollars in the bank.

My idea was if I was able to get a 4 percent return off that money, that would give me approximately 2-2500 usd a month in the Philippines after taxes etc.

I "might" in 10-15 years also get a decent sized inheritance, that could double the money I have.

The question to you, is would you move to the Philippines based on my situation and if so, how long would you wait to retire there? It would be nice to retire and not have to wait until 65 and enjoy while i am reasonable healthy.

I know some are older gentlemen here, already retired,  if you could turn back the clock and were in my situation, what would you do?

Obviously i am giving up a good job and living in a first world country, which has many benefits. But dating options are limited here, and its expensive to live.

 

Any advice is appreciated.

 

 

 

 

 

 

 

Based on the facts given, I'd say "No", but if it's something that you're set on doing, I'd recommend giving the following things a LOT of thought and be sure you have realistic plans in case things don't work out:

Make sure that you really understand the effect that inflation will have on your income stream down the road; and by really understanding, I mean sitting down with a spreadsheet or inflation calculator and really seeing what your proposed income stream of today will buy you in 15 years, 25 years, 35 years, etc. It's really not enough to understand the abstract concept of inflation - one must see the actual effects on one's own income to really understand and appreciate how it can upset the best laid plans

Pay attention to your life expectancy which goes hand-in-hand with the negative effects of inflation; the longer one lives, the worse the effects of inflation on one's income stream. For someone aged 38, their AVERAGE life expectancy is about another 43 years, meaning, on average, they can expect to live until age 82; one other thing to understand about life expectancy is that the longer one HAS lived, the longer one can EXPECT to live - that same person who is 38 today, if he lives to age 70, can expect to live another 17 years or to age 87, an increase over the average life expectancy of 5 years, which may not seem like long if one is age 38 with a steady income, but could be an eternity if one is that age and running out of money.

Of course, those life expectancies are the AVERAGES - significant percentages of folks live beyond them 

Never forget that more market downturns are coming and that the market value of your nest egg will fluctuate no matter where it's invested, including "safe" things like bonds. The current climate of low interest rates, low inflation, and outsize average returns on equities IS NOT the "new normal". My working life of 40-plus years has seen a prime interest rate of 18 percent (which lowers the value of bond funds) and three major equities markets "crashes" - 1987, 1999, and 2008. For me, the crashes were not devastating events because I had a steady income stream while working and I'm bullish on America (didn't sell when prices were swirling down the toilet), so my nest egg has recovered and then some; as well, during those crashes and the aftermath, I wasn't dependent on my nest egg for daily living expenses

While it is generally accepted that if one takes only 4% of one's nest egg per year one is unlikely (not guaranteed if one lives to a very old age) to run out of money during one's lifetime, keep in mind that the 4% rule requires that one stick to 4% every year, which means if one's nest egg decreases because of a market downturn, one takes less in a bad year; not a big deal if one's budget has enough cushion to cut a few "luxuries" in the lean years but could be quite unpleasant if the budget is tight and a market downturn is prolonged

Keep in mind that while a monthly income of USD 2,000 to 2,500 should allow for comfortable living in the Philippines, it would certainly not allow for a very comfortable living in the U.S. if one had to return home for some reason, such as political unrest, ill health, a family emergency, or if the Philippines one day decides that long-stay foreigners are no longer welcome, as is currently happening in Thailand.

And last but by no means least, give a lot of consideration to health care, especially in old age, since one day, God willing, we all grow old and frail. Good health care is quite inexpensive outside the U.S. when one is young and healthy, but when one gets to around age 70 and beyond, it becomes pretty expensive and in many case unobtainable. U.S. Medicare is an exceptional deal compared to the alternatives outside the U.S., so it's a good idea to ensure that, even if you don't plan, right now, to take advantage of it at age 65, that you have enough work credit to be eligible for it when needed down the road.

Edited October 19, 2019 by Gentleman.Jack.Darby
Clarity and grammar

[Marvin Boggs]

1 hour ago, usa32 said:

That's a big draw for me, as it is for others. The fact I could retire early and live a simpler life appeals to me as well. As well, as being SE asia, it would be alot easier for me to travel to some other countries I want to check out, thailand, vietnam, Singapore etc.

Those are the main reasons.

 

I for one, think your reasons are quite sound, not that you need our approval.  You have a lot of years ahead, and a nice financial cushion to try it for a while.  There are 7,000 islands here, most of them with nice blue skies and a lot of natural beauty.  As far as pollution and life span, heck just don't live in a big city. 

[Arizona Kid]

21 hours ago, jimeve said:

Nope, not in the Bisayas. I live near a Marine sanctuary were you can see lots of tropical fish and if you're lucky a turtle. We don't all live in Manila, kid. And if I wanted I could sail to Apo island, a world class dive site. 

Enjoy yourself. There are not many "world class" dive sites left on the planet. Most of the ocean has been used as a garbage dump for so long that people will start having to learn how to eat plastic. But you enjoy yourself and let the future generations try to figure out the mess that we left them in.

[Gary D]

41 minutes ago, Arizona Kid said:

Enjoy yourself. There are not many "world class" dive sites left on the planet. Most of the ocean has been used as a garbage dump for so long that people will start having to learn how to eat plastic. But you enjoy yourself and let the future generations try to figure out the mess that we left them in.

I occasionally watch a vblogger call Finn Snow and recently he and his girlfriend were learning to dive in a world class marine sanctuary. The locals were dynamite fishing close by whilst the divers were in the water. Apparently it's not unknown for divers to be killed by dynamite fishers.

[Arizona Kid]

16 minutes ago, Gary D said:

I occasionally watch a vblogger call Finn Snow and recently he and his girlfriend were learning to dive in a world class marine sanctuary. The locals were dynamite fishing close by whilst the divers were in the water. Apparently it's not unknown for divers to be killed by dynamite fishers.

It's a shame. No laws..no compliance. No one to enforce existing laws..I won't be around to see how the amount of plastic that the people of the world keeps discarding into the ocean effects my son. But it most probably won't be pleasant.

[Tommy T.]

6 minutes ago, Arizona Kid said:

It's a shame. No laws..no compliance. No one to enforce existing laws..I won't be around to see how the amount of plastic that the people of the world keeps discarding into the ocean effects my son. But it most probably won't be pleasant.

I forget if I posted a comment similar to this before so sorry if I am repeating myself.

The amount of plastic rubbish I have seen on deserted and remote islands and atolls is shocking. Toothbrushes, bottles, flipflops (never a matching set) and on and on...mounds of this stuff sometimes over a foot thick. And, interestingly, in islands to the east of the Philippines, a lot of the plastic has Indonesian printing on the labels. So many water and Coke and other soft drink bottles. Also quite a bit of glass - like small medicine bottles...

I have done a lot of diving and perhaps the saddest part - besides the pollution - is that locals will kill very old clams at dive sites for the meat or spear old, friendly fish to eat. Endangered sea turtles are a delicacy in many islands in the Pacific. In Kiribati the locals use nets to trap sharks, then fin them and throw the rest away because they can sell those fins for a lot of money. They live for today - not for tomorrow. The concept of future appears to be unknown...

[Arizona Kid]

14 minutes ago, Tommy T. said:

I forget if I posted a comment similar to this before so sorry if I am repeating myself.

The amount of plastic rubbish I have seen on deserted and remote islands and atolls is shocking. Toothbrushes, bottles, flipflops (never a matching set) and on and on...mounds of this stuff sometimes over a foot thick. And, interestingly, in islands to the east of the Philippines, a lot of the plastic has Indonesian printing on the labels. So many water and Coke and other soft drink bottles. Also quite a bit of glass - like small medicine bottles...

I have done a lot of diving and perhaps the saddest part - besides the pollution - is that locals will kill very old clams at dive sites for the meat or spear old, friendly fish to eat. Endangered sea turtles are a delicacy in many islands in the Pacific. In Kiribati the locals use nets to trap sharks, then fin them and throw the rest away because they can sell those fins for a lot of money. They live for today - not for tomorrow. The concept of future appears to be unknown...

You are not wrong. The beaches at Kwajalein

Edited October 20, 2019 by Arizona Kid
more info

[Tommy T.]

Apologies to USA for digressing into diving and pollution... I did not mean to hijack your topic...

I think you have received a lot of great advice here. So it will be up to you to see what you will do with it.

I wish you well on your journey and may well meet you some day if you come here and stay. Cheers!