Kawanor Posted August 27, 2020 Posted August 27, 2020 Thinking about going to the Philippines and retiring early. I am 45 years old and do not drink and do not smoke. buy local food make a lot at home, rent small apartment in the country. Go to a local church. Live calmly and find friends. Then I wonder if $ 170,000 can hold as the budget. And how many years that sum can last 1 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted August 27, 2020 Posted August 27, 2020 $170,000 could be invested in the stock market on stocks paying 7% dividends which would give you $1000 a month without touching the stocks. You could live on that for a long time, until inflation makes it impossible. 1 Link to comment Share on other sites More sharing options...
Jack D Posted August 28, 2020 Posted August 28, 2020 3 hours ago, Dave Hounddriver said: $170,000 could be invested in the stock market on stocks paying 7% dividends which would give you $1000 a month without touching the stocks. You could live on that for a long time, until inflation makes it impossible. 4 hours ago, Kawanor said: Thinking about going to the Philippines and retiring early. I am 45 years old and do not drink and do not smoke. buy local food make a lot at home, rent small apartment in the country. Go to a local church. Live calmly and find friends. Then I wonder if $ 170,000 can hold as the budget. And how many years that sum can last I lived in Norway for about a year. Forget about all of the social benefits that Norway offers. There's no such benefits (Medical, etc.) in the Philippines. If you ever need a complicated medical operation (or procedure), you'll need more than $1,000 to get it done, and if you live in a rural area (a.k.a., the provinces), emergency visits to hospitals (providing that the ambulance is given way by other drivers, and gets you to a nearby hospital whilst you're still alive), such trips are sadly only one-way trips in many cases, 1 1 Link to comment Share on other sites More sharing options...
graham59 Posted August 28, 2020 Posted August 28, 2020 (edited) Agree. Health matters would be my biggest concern (and I'm an expert on living on next to nothing). A very bad time to be looking for affordable health schemes too, at the moment, I'd have thought. There is Philhealth... and LUCK... as in, which mosquito decides to bite you, etc. Budget, with steady income from suitable inflation-proof investments (NOT business investments in the Phils ) would certainly be enough for kuripot me. Edited August 28, 2020 by graham59 3 Link to comment Share on other sites More sharing options...
Forum Support Tommy T. Posted August 28, 2020 Forum Support Posted August 28, 2020 3 hours ago, Dave Hounddriver said: $170,000 could be invested in the stock market on stocks paying 7% dividends which would give you $1000 a month without touching the stocks. You could live on that for a long time, until inflation makes it impossible. Dave... could you please tell me what stocks are paying 7% dividends these days? I feel lucky to get 3-4% maybe... 4 1 Link to comment Share on other sites More sharing options...
Popular Post Snowy79 Posted August 28, 2020 Popular Post Posted August 28, 2020 (edited) I'd be very wary of retiring at 45 on such a small budget. Sure it could get you through a good few years living a restricted life but the Philippines has a habit of hitting you with unforeseen challenges. You may start off with good intentions then you find a partner and before you know it there's a rug rat or two and an extended family all chewing at your finances. Your 20yr plan soon turns into a 10yr plan if you're lucky, by which time your home country has pretty much moved on and you've lost all your welfare benefits and probably a lot of your pension. You could end up 55yrs with next to no money but a wife and kids. Chances are you won't have the financial security to enable them to get visas to return to your home country with you and the welfare here for a married foreigner is zero. I'd use some of your money to have extended stays to get a feel for the Philippines and work on building up more funds. Edited August 28, 2020 by Snowy79 10 3 2 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted August 28, 2020 Posted August 28, 2020 1 hour ago, Tommy T. said: Dave... could you please tell me what stocks are paying 7% dividends these days? I would tell ya but then the price of the shares would go up and when I want to buy more it would cost me more. But Google is more generous than I am so a search provides this link https://www.investopedia.com/investing/monthly-dividend-stocks/ 1 Link to comment Share on other sites More sharing options...
Popular Post carbpow Posted August 28, 2020 Popular Post Posted August 28, 2020 (edited) Historical dividend median yield is a little over 4% for the SP 500 with a lot of 1-2% yields in the mix for many years. Yields show high right now due to depressed prices, save the top 5 or so, and dividend cuts may be on the way in the 3rd or 4th quarter. I personally think $2000USD/month allows a decent life here assuming one has no debt. FX rate and inflation can play havoc with that though. With no pension I'd not consider trying to live off dividends with less than $500,000 invested. Unseen expenses WILL occur and eat into your capitol. Edited August 28, 2020 by carbpow 8 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted August 28, 2020 Posted August 28, 2020 1 hour ago, Kawanor said: Only $20 house rent. As you can see, it can be done. But most will tell you that you cannot do it. Welcome to the forum. 1 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted August 28, 2020 Posted August 28, 2020 With so many (currently hidden) links to one Youtube site it looks suspiciously like you have a financial interest in that site and this is just a way to spread links. I shall lock the thread until Admin gets a chance to review it. 1 1 Link to comment Share on other sites More sharing options...
Recommended Posts