I'm sure that is going to be the most replayed section of the video. Because if you were earning 46K in 1921 you could live well in the US, never mind the Philippines. (Granted in 1921 the Philippines was part of the US so I'm being redundant.)
Actually, about 73% is between $1,000 and $3,000. Which is more realistic. You need to use the mean, not the average. If you use the average, it is skewed towards the high income expats that make it sound much better. According to a survey of about 120 Westerners living in the Philippines, the average monthly spending is as follows 1: 15.5% spend under 46,000 PHP (910.50 USD) per month. 19.1% spend about 57,500 PHP (1137.50 USD) per month. 18.2% spend about 80,500 PHP (1590.50 USD) per month. 12.7% spend about 103,500 PHP (2043.75 USD) per month. 13.6% spend about 126,500 PHP (2499.50 USD) per month. 10.9% spend about 161,000 PHP (3182.50 USD) per month.
The $2500 for me, would be a slow drawdown on my savings. The $2044, would be my target max. The $1600 would be my objective spending so I can add to savings.
The average is useful only when you want to know what the total salary would look like distributed evenly (that's the definition). The median is much more insight, and better still is the detailed distribution.
That's not true. There are a lot of 1.000+++ USD condos per month rented by American expats...These buildings are always full most are in Manila and Cebu City. There are a lot of houses all over the Philippines in the 1.000 USD Per month..
@@bigbearhugebear9018 But that only says that most Americans here, on $1400 SSA per month, are not living in $1000 per month condos, which I believe is true. I think the rents in my area would average $300-$600 per month, $600 being a really good place. Even if my income was only $3000 per month, I wouldn't waste it on $1000 per month rent payments for a condo.
As I commented before on these vlogs, some grew up in the U.S. poor. And don't have big screen TV's, fancy vehicles, eaten at fancy restaurants, wear designer cloths, lived in fancy, big houses, went on extravagant vacations, or buy $1,000+ cell phones. Some have worked blue collar jobs in dirty dangerous conditions in climates that are brutal. Some shop all the best deals at grocery stores and buy very little unless it's on sale. Some can frame a house, paint, spin a wrench on a vehicle, plumb, do electrical, build & fix.... and be in the weather elements. Some sleep 6 hours a night and work 10+ hours a day 5+ days a week. And some don't drink, smoke, take ANY pharmaceutical drugs, never use drugs, and don't have a eating disorder over-eating or eating junk, some cook at home, do their own cleaning, dishes, and laundry. The comforts of some being, let's say 'spoiled' by Western culture, does not apply to others. When one's never had anything, and fought to get by, it's not a sacrifice to be in the Philippines on a $1,000 budget. It's an upgrade. Not in negativity, but some are just tougher, and had a harder life in the U.S., and the Philippines is a better more prosperous life, better than where they came from and offers more than what they are used to formerly. Some have never had the material things, just lived on basics their whole life, as said, Philippines better life on a low budget, is an upgrade...
@@edwardvoss3367 Yes Sir, I agree. It just seems so pampered. I tend to think: "Are these peoples so soft?". Montanan, so we've never had the services or pampering peoples in largely populated areas have. Everything here takes time, it's a big, open state. Banks, teller lines, any service one has to be patient, and it's going to be decades behind in technology and methods. I like my 27 year old pickup, not a $90G one. I'd rather make my own coffee, I hate Starbucks. I haven't owned a pair of Air Jordan's in 40 years. I don't need fancy luggage, a drybag works for me. I just can't see the material stuff people think is more comfortable, it's more stressful spoiling one's self being hooked on a certain brand, kind, or model... Or whatever. I like my Walmart shoes and simple foods. But I'm healthy, no health problems, so different for me.
D@@hillbillyintheasia6122 don't blame us because your government sucks. I earn what I make. You can't sit around like a baby bird with your mouth open and expect someone to feed you.
Average is misleading. It can be screwed high easily. Median is best. A bell curve. I have been here 8 years and haven't met a single expat with that kind of income. Most are in the 1.5k range which I suspect would be around the median.
I can tell you this that I’m in calamba city and no one here is making $3,800 a month, I am blessed that I just now got my social security which puts me a little above that. Thank GOD !!!
I could do that if I took my SSA. But I’ll wait for more😀. lol when Rockefeller the richest guy in the world was asks how much more money do you need? He said just a little more!
@@PInk77W1Is that net or gross. The reason I ask is a lot of Americans like to give you their gross income which is meaningless. What matters is whats in you pocket at the end of the day.
First, one must believe the reporters of salary. Second, there are lies, damn lies, then statistics. LOL 46K equates to $3,833.333 a month. Using this as the median salary of approximately 78,396 expats (2020 census) there must be a lot of millionaires in the Phils for most expats (U.S.) are on social security earning approximately 1.5K to 2K or military pensions earning 1.5K to 2.5K for enlisted or 5K for an officer. (U.S. military). It is always tough to get an average of any situation unless you can interview 100% of the respondents. Thanks for sharing Steve. God bless!
OMG, i was just gonna say the same thing and read your comment...$4555 is the MAX social security you came get, no matter if YOU made zillions in your life time. I have friends that live there. They don't bring home $12k a year, live great. It's all about HOW you live there. Wanna stay at the Hilton for $150 a night, or rent a house outside of Dumaguete for $150 a month. It's all about lifestyle.
"Comparison is the thief of joy." I live in Ecuador. There are videos about living in Ecuador on $1,000 a month just like the P.I. I live on $1,400 a month, in a nice apartment supporting my gf and sometimes her family. A single person that can adjust to simple living, without a phone and partying, can live on less than $1,000 abroad.
@@ForAndroid101 This... As I commented before on these vlogs, some grew up in the U.S. poor. And don't have big screen TV's, fancy vehicles, eaten at fancy restaurants, wear designer cloths, lived in fancy, big houses, went on extravagant vacations, or buy $1,000+ cell phones. Some have worked blue collar jobs in dirty dangerous conditions in climates that are brutal. Some shop all the best deals at grocery stores and buy very little unless it's on sale. Some can frame a house, paint, spin a wrench on a vehicle, plumb, do electrical, build & fix.... and be in the weather elements. Some sleep 6 hours a night and work 10+ hours a day 5+ days a week. And some don't drink, smoke, take ANY pharmaceutical drugs, never use drugs, and don't have a eating disorder over-eating or eating junk, some cook at home, do their own cleaning, dishes, and laundry. The comforts of some being, let's say 'spoiled' by Western culture, does not apply to others. When one's never had anything, and fought to get by, it's not a sacrifice to be in the Philippines on a $1,000 budget. It's an upgrade. Not in negativity, but some are just tougher, and had a harder life in the U.S., and the Philippines is a better more prosperous life, better than where they came from and offers more than what they are used to formerly. Some have never had the material things, just lived on basics their whole life, as said, Philippines better life on a low budget, is an upgrade...
You quoted study "Average Expat Salary in Phil = $46,000" (USD). The average (monthly) Social Security Check, in 2023, is $1,705.79, according to the Social Security Administration .. That's $20,469.48 annual .. I seriously dout "the Average" US Expat "Retiree" on Soc Sec, plus whatever (average invest) is clearing 46k per yr, let alone Australian or Canadian's (re the USD) ..
I have been in and out of the Philippines for 13 years now and I have made some mistakes, and you really learn from mistakes living in another country. each time I get a little smarter in the Philippines not wasting or giving money away. I would say 2,000 and up is ok to retire in the Philippines depending on not giving it all away. be smart have a nice time.
After 2 years in Cebu city, I would say 100,000 pesos a month as a NONE drinker gives you a normal standard of living, but the more you go out the more you spend.( A CUP of coffee is $2:50).
It's all relative. An ex-pat can live on $500 per month there. It will be a crummy little apartment in a city or some type of run down Nipa Hut in the province. Forget Air Conditioning or any other such luxuries. Buy your food at local food / vegetable market where only Filipinos shop. Think about what that same $500 per month with get you in the Great USA - Nothing. You would be homeless.
That's just it !!! > These people in the Philippines getting checks for $700 - $800 - or $1000/mo. would be living in tents perhaps on sidewalks in the US - or cars - vans - trucks......not with any dignity at all ? - - - On the other hand - I'm not so sure how the lack of health care when your old and can't afford it the Philippines can be dealt with ? -- I guess they expect you to suffer and just die ???
I've always stressed that "living" and "surviving" are two different animals. You can live fairly comfortably in the Philippines starting at about $2,000. You can survive on $500! 😏
When you say survive that means eating at home, no partying no womanizing, that's living a normal life to me not surviving, there are a lot of things to do without spending money, exercising and walking, bike riding going to the park and having a BBQ, when I was young I spent a lot more money but most of it was for partying and womanizing
The median value isn't all that helpful because the median is simply the value at which 50% of the values are below and 50% are above; not really helpful for making a determination for what is a "good" retirement income or what most retirement incomes really are. The mean, or average, is even less helpful because the mean can be skewed by very small or very large values; as far as retirement incomes go, those with very small or massively large incomes distort the overall picture. @paulbrungardt9823 believes that the mode would be a better number but mode is simply the value that occurs most frequently is a given distribution of values; the mode COULD be as few as two values or as many as ALL values in a given distribution. Not really helpful in this case because it's extremely unlikely that many people have EXACTLY (to the dollar) the same retirement incomes. The numbers that Steve REALLY should have taken the time to dig up and use is the range of values within one or two standard deviations because THOSE are the most useful numbers in this case. The standard deviation would have told us the dispersion around the mean (in this case $75,254) and most likely the range of values within one or two standard deviations would cover most of the values within the retirement income distribution used by the U.S. Census Bureau while at the same time eliminating very high or very low numbers that distort the mean and thereby showing us where most people's retirement incomes fall, which would be the most helpful.
@@franksviennasausagelostinm2626 Or quite simply provide a range for say 50% of the population then we have a sense of how it looks like. If you add Elon Musk to any population sample everything wil look better than it really is.
@@muchit3629 As many have already pointed out, myself included, an average doesn't really tell us much and how exactly would one pick the 50% of the population to which you refer? The beauty of the standard deviation is that eliminates the outliers like Elon Musk (the filthy rich) and the Babbling Buffoon Broke in Bantayan (the poverty-stricken, broke-f__k expats who are one minor expense away from disaster).
Inflation has hit the Philippines. I consider $3,000/mo necessary to live a good retired life outside the metro areas; $5,000 in Metro Manila or Cebu City. This allows for island hopping and a couple trips a year to US to visit friends, family and medical providers. As for savings, $25,000 to $200,000 or more depending on circumstances. God bless, take care.
Exaggeration: If 1500 was good before inflation, and now 3000 is necessary to live the same life, that would indicate an inflation rate of 100% which, although it may seem that way is much worse than it really is. Govt says 8.5%, reality is more like 25% in the USA but no way, nowhere, 100%. Personally, I live outside metro areas and do a lot better than your metro area figure, but I have been here 7 years and I actually have not seen that much of an iinflation bite here in the Phils.. Costs are a little higher but not a lot. Rent and medical remain the same. Food increased a bit.
Hi Steve , you are absolutely right but IMO this fact always brings up the question - Why choose the PH ? with $$ 46K you can live well in many other places worldwide. From Alabama or Mexico or Thailand to Portugal or Greece.
@@dovoso5685 That is a good point.But most likely if you're making that much you're probably retired.At that point you wouldn't have to participate in that foolishness in the workplace.And you could just turn off the TV.But I see your point.
The simple answer is: The U.S. is turning into a poor less affordable country and the Philippines is an affordable developing country giving Expats more living arrangement options from low end to high end lifestyle.
@@JP67 and @dovoso5685 to answer your question family. Also many are retired US military married to Filipina's. Also there are more than 30,000 US veterans and military retirees who have single, double, or triple-digit income sources, bringing home $3,000 and upwards of $8,000 USD monthly. Example: veterans collecting 100 percent disability income with the United States Veterans Administration, making more than $3,800 monthly; military retirees making $2,000 or more monthly in their military pension; and those veterans collecting social security benefits, making an additional $1,500 to $2,000 a month.
That is hard to believe, Expats come nine Thousand miles from home to beg for Cigarettes or other minor things, because they hit hard times, Please !! also retirees come to these countries because their country is very expensive, if your retirement funds are forty six thousand dollars or more you would be considered wealthy there, most Expats retirement money is no where near that, that's why they come to these countries to live better, not to struggle like your suggesting, your not being honest.
$1703.98 is average social security payment in the United States as of July 2023.. that is what Google just told me.. guess I am lucky cuz I'm getting $2,000 a month.. my next trip I am staying until I die in the Philippines.. within the first couple of months after I arrive next time I will pay my funeral expenses so my Filipino fiance / wife will not have that burden.. most Filipino women do not like to talk about death at all.. I think about death as a nice long sleep forever without any arthritis pain..hehe😮😮😊😊
nice video and informative. I, unfortunately, have fallen short of this magic number by 50%. My yearly ss is only 23k which I receive 1.8k monthly. My spending budget would be 1.4k, my daughter in-law would say it's enough, but I know it's not. I also drained my savings years ago helping my family and taking care of my brother until he passed away a couple years ago. My fantasy of living the dream in the Philippines was just an illusion for an old man of 73. We have to play the cards we were dealt with, and hope for the best. I didn't plan far enough ahead to enjoy my golden years. So, I'll just sit by my computer and watch vloggers say how great it is to live the life of fun and sun. I still live my golden years watching my grandkids growing up. No regrets.
Haha, at 1.8K these bloggers will say you are living in hog heaven, that all you need is 1.5K for the good life. Not sure what those people do all day but whatever it is it better be cheap.
For 1400 a month you can live a really good comfortable life here in the Philippines. A caretaker livein will cost about 100 USD per month plus about 30 to 50 USD in food for her. Rent should be about 350 USD for a very comfortable resort type one bedroom apartment. Travel can easily be done roundtrip from resort to big town for less than two dollars. A nice local breakfast , lunch or dinner, nothing fancy but very good food, is less than 2 dollars. That's about 60 USD for 3 meals a day. A really good burger and fries cost $4.00. That's a total of less than $700.00 USD for the very simple yet comfortable life. Your caretaker will cook for the both of you , run all of your chores if you like, do your laundry, clean your house and make you comfortable if you prefer. You still have $700.00 to spend on fun and save some for medical needs that will come up at our age. Point is don't give up on your dream until you come here for at least 3 to 6 months and try it, I recommend 6 months. If it doesn't fit your desires then you can always go back where you came from. You probably already have people here that will give you a hand if you have been watching bloggers for awhile. I like the Dauin area outside Dumaguete but there are literally hundreds of good locations to pick from many of which are cheaper than our area. Good luck and never give up.
@@earlclep1 ty for those kind words, much appreciated. Being single again, I should be ok, may start my journey in Iloilo city or Cebu lapu lapu island. then venture out to other areas, after getting my budget set up.
Technical note--Mean is Average---the 1 lowest & the 1 highest added together then, divided by 2. Therefore 1 high earner skews the number disproportionately higher---Would be better to know Mode income ( Mode is most frequent income).
People use Mean and Average interchangeably, one and same thing. Your definition is incorrect. To calculate the average or mean you add up everything then divide by the count of things or itmes. So if you wanted to see the average salary of 11 soccer players on a team, you would add up all their individual salaries then divide that total by 11. Then you get the mean or average. Now if you wanted to see the range of salaries it would the salary of the lowest paid player to the salary of the highest paid player in others words the Minimum value to the Maimum value.
People also must consider those credit cards bills and maintenance of property they may own in USA . Those bills don’t stop. Thanks for another great vid.
The four of us, (me, wife, two kids), live on about $3,500 USD / month. Add in the fact that we also take care of her mama, her sister, her sister's hubby, and their two kids, and I would guess we spend close to $5,000/month. If you can live in a bamboo hut and eat dried fish and rice every day, yeah, you can live on less than $1,000/month.
Retirement Pay is correct, retirement salary is not. Also, it is too high for just retirement income. I bet the average, or median which is more accurate, is only around 24-27K a year
That the number includes Filipinos who retired from the US Navy with wives who also lived in the US. They are mostly dual citizens with four or more pensions between the two of them and have sold properties that paid for very nice homes here. If he retired as a senior enlisted or officer and she worked as a nurse for 30 years those American retirees do very, very well.
$46,000 is far away from $18,000 to $24,000 cost of living that most expats promote ... $18,000 is $1,500 a month ... $24,000 is $2,000 a month ... $46,000 is $3,833.3334 a month ... that a big different to in the way they do their budget for their cost of living
It’s all subjective. One person might need $3000 to live the kind of lifestyle they want in PH while another is perfectly happy spending just $800 a month. The truth is that if you are spending thousands a month in PH you are likely buying a lot of luxuries, wants, etc but not needs unless you have a big family to care for.
I live well in Chaing Mai Thailand on less than $1k USD a month and have all I want and need. My financial adviser said I could budget 5k a month. I prefer to be frugal and spend as I need not as I want. I think the Philippines is more expensive than Thailand.
I like this comment, thanks for sharing :) You have the ability to spend 5K, but you spend only 1K. Also with 5K you can have a good life even in US or other places outside of metros.
@@pathkris2984 to follow up on this, 8 months after posting. I’ve been to Vietnam for a month and the Philippines for 6 weeks. I spent about 900 dollars in the time I was in Vietnam, the Philippines I spent 2,400 USD. Comparing the two IMHO Vietnam has better food, infrastructure, hotel accommodations and I just felt safer. I’m now back in Thailand. I didn’t find the Filipino people to be that friendly or having great command of the English language for 90% I had a conversation with . Customer service and respect was lacking compared to Thailand and Vietnam. Before anyone hates me for what my opinion is. I was married to a Filipina for 24 years, so I know the culture to a certain extent.
If you own your house free and clear and your car free and clear, it is not that expensive. My expenses in Isabela province are the following: Netflix 500 php or 10 USD Internet 1200 php or 22 USD propane 2400 php or 42 USD electric for both house combined 5400 php or 110 USD Food 45,000 php or 820 USD. Now I have not retired yet and live and work still in Colorado, but send my wife 2000 USD a month and she lives comfortably and still has 800 USD roughly a month for eating out, traveling etc. The key is you have to have everything bought and paid for already. You should have a medical fund set aside which is true, and any medical issues that come up I send money to my wife to take care of those issues separately. 2000 USD based on the above is a really comfortable living. Now obviously living in Manila would probably be at least 1000 USD more a month but I like the laid back quietness of Isabela province versus manila
All great info Steve! I blew through my 401k years (divorce) back after retiring from Lockheed Martin after 21 years. Current monthly income between SS and VA disability is 3K. Thinkin’ I’ll be okay…. Your thoughts?
U.S. veterans with service-connected conditions are eligible for medical care for both service-connected and non-service-connected disabilities at the VA outpatient clinic in Manila. U.S. veterans there also are eligible for hospital care for service-connected disabilities, which is provided under VA contract. Does this bother you?
Veterans Living Overseas Veterans who live in the Philippines As a Veteran who lives in the Philippines, you are generally entitled to the same VA benefits as those living in the United States. You can visit the VA Manila Regional Benefit Office and the VA Manila Outpatient Clinic for benefit assistance needs and for limited healthcare treatment for service connected conditions. The regional office and the outpatient clinic are located in the same building. The Manila benefits fact sheet provides a list of the healthcare services provided by the VA Manila Outpatient Clinic.
Is your FER's being offset because your also receiving SS? I ask because at 62 I will have 39 years FER's and probably apply for SS at that age and retire.
If there is an expat who has farming experience want to live free on a farm … we have water well , food and shed shelter with solar power , motorcycle and tools in return u get to maintain the plants, care for chickens, ducks , goats land size 2 hectares… location tarlac San Jose we live in metro manilla too far
Are you serious? I’m a hobby food-forest designer and permaculturalist. I designed, planted and maintained my own food forest in southern Shikoku Japan and have been living here for 13 years. I’m looking for land to relocate to in the PHs. Your farm sounds exactly what I’m looking for.
I wasn't as smart as other exspat, I live on a small pension and my social security. We have $2,800 coming in every month. I was smart to put away money for my emergency fund and our start up fund. Brought land and built 3 houses on different islands so we pay no rent. Even with birthday, holiday and our anniversary I still manage to live a upper middle class lifestyle and put $500 a month in my emergency fund. With 2 kids in college and a high schooler and grade schooler. It really is what makes you happy in life and living a much stress free peaceful life is what life is about for me now. As a Nurse if we want to do anything that cost more money I can always go back and work for 6 months if need be for now once I'm to old to do that then so be it. It's funny how life changes, I'm back working in the state for 6 months to save the money to take my wife and kids to live in Europe for 3 months. With all the anti Jewish crap going on in America and Europe we've changes our plans. We are going to Okinawa Japan to visit family and now plan to rent an AirBNB for a few months. I have found like you have said you want to make God laugh tell him your plans, best to be flexible as an exspat. 😂 Good video Steve.
A guy 40 years old retiring from the military after 20 years is getting somewhere in the 27K a year range. That's an E7 pay grade. I would say 25% of those guys get some type of additional disability. Not a huge bundle of cash but ok I guess .. Have to wait another 26 years to get the 1,500 or so SS
500 and 1000 are very different. You use them interchangeably like they are the same amount. Yes, you can live okay on 1000 per month and no, your girlfriend won't need to contribute to the budget. What you can't do is live okay on 500. Why do i even need to say this? There are good 300 dollar one bedroom apartments. Add another 100 for bills like electricity, water, internet etc. You are left with 600 dollars for food and entertainment, which results in going out for fun twice per week. Is that a bad life? I think not.
Thank you for speaking up about the types of life you will lead on 1k a month. While we dont watch your vlog routinely, we do stop in on occasion to see your thoughts on a subject. Unfortunately the study that you reported on is rife with possible flaws, but it may be accurate. Would it be possible for you to put the link to that study I would love to see the entire article and its supporting math. That being said I got an interesting comment on one of my videos the other day about YOU. A commentor stated that if all they had was 1000 usd they would move where you and pointed out that yu only pay 100 usd a month for rent. I was wondering if that is accurate? Thanking you in advance....Mike and Arlyn
How much you can live on and be comfortable is VERY SUBJECTIVE. You person can be perfectly happy here spending $800/month while for someone else that is unbearable. There is no one answer. It depends on each individual persob
Where you live is so important. For example comparing Metro Manila to Baguio is a stark contrast. Just got back from 45 days in PI and was shocked at how expensive Manila was. Food cost was out of sight, transportation and decent Hotel expenses were budget busters. Spent a few weeks in upper Luzon and the differences were remarkable. You can live a very good life style outside the major cities for $40,000 to $50,000. Maybe less if you lower expectations. Your information is accurate.
BS Baguio is $$$$$$$$$$ just like Manila. We just moved last week. Too Angles City from Baguio. Food is cheaper. Water is half what it is here. Fuel is less also. Store prices are 25 too 50 % less in Angles City Pampanga.
SM Mall in Baguio was a lot less than Manila. Hotel was half Manila cost and you could go any where in Baguio via taxi for about 200p whereas Manila was over 1000p I am sure Pampanga is cheaper.@@gildavojta7943
Ok lets put this into perspective. An acceptable salary in the philippines is P30000 net. Thats $535 a month. If they can make it at $535, i dont see why one cant be reasonably comfortable at twice that amount. Unless you want to put your self in a situation where youre responsible for your gf and her entire family.
Hey Steve. 46k seems high. When you say $2,000-3,000 is sufficient, for an expat, does that amount account for 2 or expat only (in a normal lifestyle and heath situation)? Also, 10k would quickly be exhausted. Would 50k be sufficient (after outright buying a car and house)? Or, would you say more than 50k? Do you know of a mathematical formula available to run scenarios to provide a savings number? Take care.
If you're talking about an emergency fund, 20k is probably good. If you're talking about portfolio value to sustain a 4% withdraw rate, I recommend 750k.
@@ForAndroid101 I couldn’t agree more. What I hate is when I’m with my family and because I’m a white American every blogger thinks I want to be interviewed and put on their channel. What I want is my privacy
@@Cowboysfan4ever that sounds annoying! People are termites. They find a meal, eat/destroy everything they can and then continue to the next. Enjoy your life out there! Best of luck.
One of the problem in the Philippine is the health care cost especially the hospitalization cost. The first thing that expat should do is to apply for Philhealth and should go to govt.hospital when you get sick. Private hospital are very expensive.
S.S. Only… so nowhere near $46K! But my fiancé and I are going to live close to my income, and all of the money she brings in will go to savings. Plus I have “emergency money” from the rental of my house. After 2 more years, when the housing market is revived, I can sell my house and build a new one, and then we’ll have a better budget margin, since we won’t be renting.
@@willieshoemaker8680 in my market the new houses in my subdivision that were completed 1-1.5 years ago, are only bringing in a very small increase. Our market got saturated when the housing boom was going on 1-2 years ago. Different regions are experiencing different results. But 8% interest is keeping a lot of people from buying. But they’ll rent!
Very good information Steve here in UK pensions are very different . 67 is retirement age for workers at 60 now I think state pension at this time is around £804 per month around thousand dollars .This is for 35 years paying national insurance stamp . Obviously a private pension would help this amount and savings a godsend . And Obviously the ex wife's payoff doesn't help the situation. Thanks for the good info keep up the good work .👍
Actually a full UK state pension is £815 every 4 weeks or £882 monthly. Will be £958 pm from April 2024. 👍👍. That with 2 other pensions allows me to do most of the things I enjoy in the Phils. 👍
@GabeGeno The only good result is property value has risen substantially and with a good solicitor you can come away with 50%. Which I suppose is 50%more than in the Philippines 😂.
That may be, but my lawyer here says a upper income in samar is 65000 peso. We have 18-38 square meter apartments brand new, beautiful and modern. We charge 8000 peso per month. 150USD. Electric could be another 6000peso water a few hundred peso. So living in the Provence easy on $2000 a month. Some people I know in papanga angeles city. Live on 100000 peso per month. Rent is anywhere from 15000 to 25000 for the guys on ss only. Of course if you have money it can go over 100000 peso per month. But you can live on $2000. In these 2 communities comfortably
Expats “on average” are bringing in $46K USD a year? I find that hard to believe Steve. That’s $3,833 a month! Now I can see why Filipinas and Filipinos think we’re all millionaires. Not a good sign.
but the $46k USD per year was cited for all expats, not jusr retirees - is that correct? If yes, then the number includes people activately working in the philippines or people with additional monies outside of just SS. Just my thoughts
@@RichTravel1010 Did you provide a cite for the article anywhere? I cannot believe it applies to most retirees, maybe expats averaging in Western Executives of foreign companies etc.
Internations is a business/entrepreneur group where the majority of its members are working professionals, so of course the salaries are going to be higher. They don't take into account the majority of expats who are here on a small retirement pension or social security.
That turns out higher than you expected because that is the AVERAGE (meaning it can be easily be lifted up by a very few who are really very rich). You should have gotten the MEDIAN which would more likely show the earning of most typical expat.
You can live there on $1,000 a month, but there's little money left to enjoy life there unless all you want to do is walk the beach and eat cheap food.
I just moved into this apartment before Thanksgiving it's nearly $900 a month when I retire I want to get 12 to 1400 dollars a month from social security. Rent-to-own in Philippines will make a difference in my survivability.
I have 10 years before I retire and am looking at a $3500-4000 a month return on investments without social security added in. Looking to locate in BGC or Eastwood to start off and see where I like the best. I will shoot for a $2200-2500 a month budget to start off with and continue rolling over investment dividends. I have no intentions of dating seriously for the first year or so in order to figure out what I want personally, where I want to live, and if I want a long term companion/GF/wife at all.. Been divorced for nearly 30 years and it took me a good 20 to dig out from the shithole she left me in financially..
With all due respect, there is no way the "average' retirement salary is 46k per year. A majority of expats are living on SS, which is nowhere near that much. How many expats have you met that receive over 3800 per month from a 'salary''?
@@RichTravel1010 - A few is to be expected. But the average overall SS benefit is 1919.00. Thats less than 24k per year. And it's not as though retirees are working there.
@@RichTravel1010 - But you said "salary". Investments and pensions are not salaries. Hell, SS itself is not a salary, you miss phrased this altogether. Very few vloggers claim 46k per year, I know that. Geez.
Living over 1k is horrible if your an Expat, you are on your last years in life. You do not want to live frugally, you want to live a comfortable life. As a Filipino who moved to US at a young age. 1k a month is comfortable since I built a modern home already but I made sure I get atleast 4k a month from my investments at minimum.
Buy a house and car while still working in the USA. Then with SSI. Pension. And 401k money can live a good life. If possible buy lots. Land values in the Philippines really going up.
That sum is for the basic pension paid to everyone. However, most Australians also have what is called a superannuation pension that is based on the amount that they saved in a pension scheme.
@@LeftyKen Superannuation is a lump sum one of payment and its not a pension. Its like a savings account. If you have a rental property thats similar to a government pension as you get it weekly.
46,000 = 3,800 per month. average. wow I say that is a bit above that sweat spot. what if you're at the 2000 side of that sweat spot... mmm that is about half of average,, wowza. Last month I spent $2594 all in NO rent. Two adults not going out at all. living in Bacolod. Food $338 Booze $260 transportation $22 then the rest Miscellaneous $829 electric, Wi-Fi, cell phone, $1142 wife allowance, child support, laundry, B-day, health Ins, amazon order, parts for the house, gas for car etc. etc. $2594 total. didn't try to budget just wrote everything down to see... The rest of my pension I saved. One trip to Dumaguete that was $500 but its included...so if no trip it would have been 2K
Truth … everyone needs to hear this… Everyone… I don’t live there but I go there 3-4 times a year… No way I could make it on $1000 a month … $1800 to $2000 is much more reasonable… 2-3k you should be banking at least 500 a month … Biggest point do the research yourself… key word yourself and don’t depend on vloggers to make your financial plans for you… This video needs to be put out every few months… Too many people being unrealistic about what you need in the PH
Is that 46k before tax? If not then that's over 170k php per month and it leaves me wondering where we would stand with our budget. I'm expecting between 130-150k php after tax. We should have a rather large nest egg from the sale of our house but we'd probably lose over half of that if we bought a car outright and built our own home in the Philippines . Either way, renting or not and with health insurance, I'm hoping that we'd be fine on that budget but with this "average" I'm less sure how it would hold up long term.
Can you have an active investment accounts while in the Phillipines?? I am not talking about a in country savings account but say with an investment house like Fidelity.vangard ???
It all depends on what kind of lifestyle you’re accustomed to or what kind of lifestyle you want. I can tell you, for me, I EASILY live in PH on about $14k to $15k a year. I live VERY COMFORTABLY. But others might not like how I live. I’ve never been a money spender. I’ve always been the type to just buy what I need and maybe a little extra but that’s all. If I was spending $3k a month I have no clue what I’d be buying 🤣
In the last few weeks, I've seen multiple vlogers flip-flop on income requirements for living in the Philippines. I'm painfully aware vlogers are looking for content, which = $$. None of the vlogers are retired people because every last one of you are working/hustling for subscribers. Average American social security payments are $1,706.98 per month. As of 2022 the median US household income was $74,590. according to the US Census Bureau. So at age 65 and 11 months the monthly S.S. payment would be $1,867. Most Americans are currently living paycheck to paycheck so I don't actually believe the numbers you got.
I'm retired and don't ask for Patreon or Donations and I don't do thumbnails or push for subscriptions ....... I also don't just push out content if I feel it's substandard. Also many that I know here are at that rate and higher in some cases. Some areas attract the lower retirement incomes and others go into Gated Communities here. Nor would I say I "Hustle" people for subscriptions...... I would go on to say that my channel is one of the most organic and has the most organic subscribers and members in the Expat Community here.
Your right on the money I'm approx 4k a month and live a good life .been here 15yrs sure the cost of living has gone up over last 3 years but when guy says they can get buy on $1k good luck I'd say the sweet spot is $2500 a month living the good life . However I'm not into drinking or bars. I do give my wife's parents couple hundred a month .it was her responsibility to take care of parents so only right. We do eat good go out once a week to eat and buy what we need. Live in a nice subdivision in angeles. My wife of 6yrs never asks for anything but i like giving my late wife filipina her family always asked for handouts. So as i said the real sweet spot is $2500 a month leaves money for rainy days.
I know you told me once already but can you tell me again what city you live in? I forgot and can not find your previous reply. We will be in the PI in March for two months and I may drive by your town.
I have no intention to live with a women ever again. I quit dating two years ago. I'm done with that. I'm looking to retire and live in peace. I'm 53, waiting to enjoy my freedom 55. I'll have 3 000 $ budget, no wife no kids. I'm a lone wolf by nature. I enjoy sport fishing, playing pool and golf. I don't really get lonely. I want peace and tranquility. I do enjoy company occasionally, only if I feel like it. I speak French and English. I've had a good life, kids are grown-up, totally free. I'm a quiet person and value my privacy. I'm not looking for sex, relationship nor marriage. My retirement could be in Thailand, Malaysia, the Philippine or Vietnam. I want to eat a decent BBQ steak once a week. Any suggestions ?
Sounds like you have no roadblocks haha Steak? I'm assuming Philippines and Malaysia are you best bet haha. I've never seen steak offered in a Thai or Vietnamese restaurant.
Is it possible b to live here on $500 / month? Sure ... Lots of Filipino natives do it. But it means living in a studio apartment, no air conditioning, eating rice and fish for every meal, etc. I've heard people say you can "live like a king in the philippines for $1000 A month!" I think not like a king, but more like the lord of the flies.
The UK state pension is only about £220pw. It seems that your figures would also see you live very well in Europe as well on $46,000 a year! I personally would love to be on half of that! I currently balance my budget, live OK, still have an admittedly very small mortgage too. I'd like to see a few of these videos from the point of an English man on just our state pension who has lived in council (local authority) home/houses/flats all of their life and always worked a minimum income job. To me that would reflect reality not those who retire on a substantial American pension.
Good video with great information .. thanks. I think many foreigners move to the PI without realizing how expensive it can actually be. I travel back and forth a couple of times a year to the US for one reason only - healthcare. I also believe your numbers are very close if you include those costs. I also believe it depends on your lifestyle. I have a province home and my expenses run less than $1000 per month, but when you add in the cost of traveling .. it's obviously much more. The folks you talk about really need to do their research before moving. What I find disturbing is the increase in the cost of things without the increase in the standard of living. The Philippines is moving much to fast and leaving the ordinary people behind, but that's just me.
I’d have to believe that the average retiree’s there living on SS alone are well below $46,000 a year. $1782.74 is the average SS payment in 2024. So if that’s the average some are below and some are above that. The max SS payment is $3,822.00 so about 46k annually. There must be a group that have other income sources. Dual pension like military and then SS checks coming in. There certainly are a lot of military retirees there. So put in 20 in the military and then another 20-25 years in civilian workforce and you have got it made. $53,700 is the average military retirement, not a bad chunk of change. Officers get the best like a CEO retirement. Noncom less but still good.
Average and median is not the same thing. Say you averaged the incomes of 10 people. 2 made 20K, 7 made $30K and 1 made $500K. The average would be $75K, the median would be $30k. Just pointing that out.
Hi Steve, I was wondering about TV reception in the Philippines the other day. Can American TV be received in the Philippines. Who does it?, is it even possible? I am talking Fox news, CNN, weather channel, the history channel, TLC, Lifetime, etc. What about direct TV or Dish network ? What would be the cost. Maybe you can research this and make a future video about the subject ?
You can rent a house for around $200 or less a month in places like Davao city. Then the cost of electricity water will add around another $40. Food for an individual can cost $200 a month. Add an extra $100 for expenses. So say around $700 a month for 2 people is very reasonable in my experience. Of course depends always on your lifestyle etc. Just my opinion. Take care all.
good video. seems about right tho, you should have around 4-5k/month income before coming to the Philippines. people need to consider healthcare, medications, western food, supporting your GF and her family and kids.
Meant 2021
Ha! I just saw that and laughed and I wanted to let you know.
I'm sure that is going to be the most replayed section of the video. Because if you were earning 46K in 1921 you could live well in the US, never mind the Philippines. (Granted in 1921 the Philippines was part of the US so I'm being redundant.)
It took me a second and, I did realize that he meant to say 2021.
Actually, about 73% is between $1,000 and $3,000. Which is more realistic. You need to use the mean, not the average. If you use the average, it is skewed towards the high income expats that make it sound much better.
According to a survey of about 120 Westerners living in the Philippines, the average monthly spending is as follows 1:
15.5% spend under 46,000 PHP (910.50 USD) per month.
19.1% spend about 57,500 PHP (1137.50 USD) per month.
18.2% spend about 80,500 PHP (1590.50 USD) per month.
12.7% spend about 103,500 PHP (2043.75 USD) per month.
13.6% spend about 126,500 PHP (2499.50 USD) per month.
10.9% spend about 161,000 PHP (3182.50 USD) per month.
You mean "median" and not "mean." Mean and average are the same thing.
The $2500 for me, would be a slow drawdown on my savings. The $2044, would be my target max. The $1600 would be my objective spending so I can add to savings.
The average is useful only when you want to know what the total salary would look like distributed evenly (that's the definition). The median is much more insight, and better still is the detailed distribution.
I've met thousands of Expats here and would say that is way low. But interesting still.
@@murraycurry-nt4gnI would like to see the standard deviation and the cumulative distribution. That will provide a good statistical representation.
Most of the Americans in the Philippines are on social security making $1,400.00 a month.
That's not true. There are a lot of 1.000+++ USD condos per month rented by American expats...These buildings are always full most are in Manila and Cebu City. There are a lot of houses all over the Philippines in the 1.000 USD Per month..
@@bigbearhugebear9018 But that only says that most Americans here, on $1400 SSA per month, are not living in $1000 per month condos, which I believe is true. I think the rents in my area would average $300-$600 per month, $600 being a really good place. Even if my income was only $3000 per month, I wouldn't waste it on $1000 per month rent payments for a condo.
There’s no Philippines expat RUclipsrs paying $1k pm that I’ve ever seen and I’ve watched the vast majority of them. Can you name 1 or more ??
@@sentinel80 That because they are broke collecting small SS checks
@@bigbearhugebear9018 Maybe true but not in Dumaguete.
As I commented before on these vlogs, some grew up in the U.S. poor. And don't have big screen TV's, fancy vehicles, eaten at fancy restaurants, wear designer cloths, lived in fancy, big houses, went on extravagant vacations, or buy $1,000+ cell phones. Some have worked blue collar jobs in dirty dangerous conditions in climates that are brutal. Some shop all the best deals at grocery stores and buy very little unless it's on sale. Some can frame a house, paint, spin a wrench on a vehicle, plumb, do electrical, build & fix.... and be in the weather elements. Some sleep 6 hours a night and work 10+ hours a day 5+ days a week. And some don't drink, smoke, take ANY pharmaceutical drugs, never use drugs, and don't have a eating disorder over-eating or eating junk, some cook at home, do their own cleaning, dishes, and laundry.
The comforts of some being, let's say 'spoiled' by Western culture, does not apply to others. When one's never had anything, and fought to get by, it's not a sacrifice to be in the Philippines on a $1,000 budget. It's an upgrade. Not in negativity, but some are just tougher, and had a harder life in the U.S., and the Philippines is a better more prosperous life, better than where they came from and offers more than what they are used to formerly. Some have never had the material things, just lived on basics their whole life, as said, Philippines better life on a low budget, is an upgrade...
@@edwardvoss3367 Yes Sir, I agree. It just seems so pampered. I tend to think: "Are these peoples so soft?". Montanan, so we've never had the services or pampering peoples in largely populated areas have. Everything here takes time, it's a big, open state. Banks, teller lines, any service one has to be patient, and it's going to be decades behind in technology and methods. I like my 27 year old pickup, not a $90G one. I'd rather make my own coffee, I hate Starbucks. I haven't owned a pair of Air Jordan's in 40 years. I don't need fancy luggage, a drybag works for me. I just can't see the material stuff people think is more comfortable, it's more stressful spoiling one's self being hooked on a certain brand, kind, or model... Or whatever. I like my Walmart shoes and simple foods. But I'm healthy, no health problems, so different for me.
@@tinmanrobby LUCKY YOU RICH EXPAT AND YOU ALL STILL SAY YOUR POOR ,LOL make 2k to 4k
D@@hillbillyintheasia6122 don't blame us because your government sucks. I earn what I make. You can't sit around like a baby bird with your mouth open and expect someone to feed you.
Average is misleading. It can be screwed high easily.
Median is best. A bell curve.
I have been here 8 years and haven't met a single expat with that kind of income. Most are in the 1.5k range which I suspect would be around the median.
I’m in calamba city and none of my friends make $3800 a month
Live in Metro Manila. Many of my friends have six figure incomes
My house is paid in full with no debt and my Income is $7,200 per month.
Come to Manila, you'll meet alot with chauffeurs too driving them around golf clubs.
Who cares. Everyone lives differently. It's not how much money you have, it's what you do with what you have that counts.
Exactly !!!
couldn't have said it better.
Yes, everyone is different either single, married, alimony to ex wife, child support, or any debts...
That's almost 3800 a month. I don't know anyone here in Cebu that has 3800 a month coming in. Maybe 1500 to 2000 but 3800 a month. WOW
I can tell you this that I’m in calamba city and no one here is making $3,800 a month, I am blessed that I just now got my social security which puts me a little above that. Thank GOD !!!
I could do that if I took my SSA. But I’ll wait for more😀. lol when Rockefeller the richest guy in the world was asks how much more money do you need? He said just a little more!
Not accurate
I’m making $4100. Should go up to $4200 in 2024. I have a small paid for
Home in Tx. So life is good.
@@PInk77W1Is that net or gross. The reason I ask is a lot of Americans like to give you their gross income which is meaningless. What matters is whats in you pocket at the end of the day.
First, one must believe the reporters of salary. Second, there are lies, damn lies, then statistics. LOL 46K equates to $3,833.333 a month. Using this as the median salary of approximately 78,396 expats (2020 census) there must be a lot of millionaires in the Phils for most expats (U.S.) are on social security earning approximately 1.5K to 2K or military pensions earning 1.5K to 2.5K for enlisted or 5K for an officer. (U.S. military). It is always tough to get an average of any situation unless you can interview 100% of the respondents. Thanks for sharing Steve. God bless!
Many expats make more than $2k per month on SS.
OMG, i was just gonna say the same thing and read your comment...$4555 is the MAX social security you came get, no matter if YOU made zillions in your life time. I have friends that live there. They don't bring home $12k a year, live great. It's all about HOW you live there. Wanna stay at the Hilton for $150 a night, or rent a house outside of Dumaguete for $150 a month. It's all about lifestyle.
$150 a month so unrealistic in nearly everywhere in the world
not u havent been to Cambodia then@@Mjolnher9
@@themangopyrate My electric bill is over 150 per month in Cebu City... Its no big deal in Vegas it was over 250 per month
"Comparison is the thief of joy."
I live in Ecuador. There are videos about living in Ecuador on $1,000 a month just like the P.I.
I live on $1,400 a month, in a nice apartment supporting my gf and sometimes her family.
A single person that can adjust to simple living, without a phone and partying, can live on less than $1,000 abroad.
@@ForAndroid101 This... As I commented before on these vlogs, some grew up in the U.S. poor. And don't have big screen TV's, fancy vehicles, eaten at fancy restaurants, wear designer cloths, lived in fancy, big houses, went on extravagant vacations, or buy $1,000+ cell phones. Some have worked blue collar jobs in dirty dangerous conditions in climates that are brutal. Some shop all the best deals at grocery stores and buy very little unless it's on sale. Some can frame a house, paint, spin a wrench on a vehicle, plumb, do electrical, build & fix.... and be in the weather elements. Some sleep 6 hours a night and work 10+ hours a day 5+ days a week. And some don't drink, smoke, take ANY pharmaceutical drugs, never use drugs, and don't have a eating disorder over-eating or eating junk, some cook at home, do their own cleaning, dishes, and laundry.
The comforts of some being, let's say 'spoiled' by Western culture, does not apply to others. When one's never had anything, and fought to get by, it's not a sacrifice to be in the Philippines on a $1,000 budget. It's an upgrade. Not in negativity, but some are just tougher, and had a harder life in the U.S., and the Philippines is a better more prosperous life, better than where they came from and offers more than what they are used to formerly. Some have never had the material things, just lived on basics their whole life, as said, Philippines better life on a low budget, is an upgrade...
@@ForAndroid101same here in the USA,,happy as can be on less than $400
If even if I had 3000.a month wouldn't want to live in ( high end, ) LIVING
Yeah but who wants to live like that? You live without a phone?
@@bigbearhugebear9018 I could throw my phone away no problem
You quoted study "Average Expat Salary in Phil = $46,000" (USD). The average (monthly) Social Security Check, in 2023, is $1,705.79, according to the Social Security Administration .. That's $20,469.48 annual .. I seriously dout "the Average" US Expat "Retiree" on Soc Sec, plus whatever (average invest) is clearing 46k per yr, let alone Australian or Canadian's (re the USD) ..
I have been in and out of the Philippines for 13 years now and I have made some mistakes, and you really learn from mistakes living in another country. each time I get a little smarter in the Philippines not wasting or giving money away. I would say 2,000 and up is ok to retire in the Philippines depending on not giving it all away. be smart have a nice time.
After 2 years in Cebu city, I would say 100,000 pesos a month as a NONE drinker gives you a normal standard of living, but the more you go out the more you spend.( A CUP of coffee is $2:50).
I live in Cebu city and my girlfriend and I spend about 80k a month combined. So 100k for 1 person is more than enough.
It's all relative. An ex-pat can live on $500 per month there. It will be a crummy little apartment in a city or some type of run down Nipa Hut in the province. Forget Air Conditioning or any other such luxuries. Buy your food at local food / vegetable market where only Filipinos shop. Think about what that same $500 per month with get you in the Great USA - Nothing. You would be homeless.
That's just it !!! > These people in the Philippines getting checks for $700 - $800 - or $1000/mo. would be living in tents perhaps on sidewalks in the US - or cars - vans - trucks......not with any dignity at all ? - - - On the other hand - I'm not so sure how the lack of health care when your old and can't afford it the Philippines can be dealt with ? -- I guess they expect you to suffer and just die ???
I've always stressed that "living" and "surviving" are two different animals. You can live fairly comfortably in the Philippines starting at about $2,000. You can survive on $500! 😏
Exactly
well said.
Depends on where you live ..
When you say survive that means eating at home, no partying no womanizing, that's living a normal life to me not surviving, there are a lot of things to do without spending money, exercising and walking, bike riding going to the park and having a BBQ, when I was young I spent a lot more money but most of it was for partying and womanizing
highest pay job in the Philippines just 200k a month .
Median rather than average would be more of a realistic number.
Right
The median value isn't all that helpful because the median is simply the value at which 50% of the values are below and 50% are above; not really helpful for making a determination for what is a "good" retirement income or what most retirement incomes really are.
The mean, or average, is even less helpful because the mean can be skewed by very small or very large values; as far as retirement incomes go, those with very small or massively large incomes distort the overall picture.
@paulbrungardt9823 believes that the mode would be a better number but mode is simply the value that occurs most frequently is a given distribution of values; the mode COULD be as few as two values or as many as ALL values in a given distribution. Not really helpful in this case because it's extremely unlikely that many people have EXACTLY (to the dollar) the same retirement incomes.
The numbers that Steve REALLY should have taken the time to dig up and use is the range of values within one or two standard deviations because THOSE are the most useful numbers in this case. The standard deviation would have told us the dispersion around the mean (in this case $75,254) and most likely the range of values within one or two standard deviations would cover most of the values within the retirement income distribution used by the U.S. Census Bureau while at the same time eliminating very high or very low numbers that distort the mean and thereby showing us where most people's retirement incomes fall, which would be the most helpful.
@@franksviennasausagelostinm2626 Or quite simply provide a range for say 50% of the population then we have a sense of how it looks like. If you add Elon Musk to any population sample everything wil look better than it really is.
@@muchit3629 As many have already pointed out, myself included, an average doesn't really tell us much and how exactly would one pick the 50% of the population to which you refer? The beauty of the standard deviation is that eliminates the outliers like Elon Musk (the filthy rich) and the Babbling Buffoon Broke in Bantayan (the poverty-stricken, broke-f__k expats who are one minor expense away from disaster).
Inflation has hit the Philippines. I consider $3,000/mo necessary to live a good retired life outside the metro areas; $5,000 in Metro Manila or Cebu City. This allows for island hopping and a couple trips a year to US to visit friends, family and medical providers. As for savings, $25,000 to $200,000 or more depending on circumstances. God bless, take care.
I agree, although your figures may be a bit low.
Exaggeration: If 1500 was good before inflation, and now 3000 is necessary to live the same life, that would indicate an inflation rate of 100% which, although it may seem that way is much worse than it really is. Govt says 8.5%, reality is more like 25% in the USA but no way, nowhere, 100%. Personally, I live outside metro areas and do a lot better than your metro area figure, but I have been here 7 years and I actually have not seen that much of an iinflation bite here in the Phils.. Costs are a little higher but not a lot. Rent and medical remain the same. Food increased a bit.
25k- 250k is a big spread. Nit very helpful. Maybe pick a minimum number like 150k but target 300k?
One emergency fund you need abroad is the cost of a round trip ticket home for a death in the family type emergency. In the P.I. that can be a lot.
Emergency Fund 10,,000 Plus health Insurance
Your breath of honesty was insightful and refreshing. Thank you for the practicality.
Hi Steve , you are absolutely right but IMO this fact always brings up the question - Why choose the PH ? with $$ 46K you can live well in many other places worldwide. From Alabama or Mexico or Thailand to Portugal or Greece.
Same thoughts here.Why would so many people making 3800 a month choose to live in a third world country? Just don't add up
@@JP67 Some people claim to know the answer , however - it is not woke and not politically correct.
@@dovoso5685 That is a good point.But most likely if you're making that much you're probably retired.At that point you wouldn't have to participate in that foolishness in the workplace.And you could just turn off the TV.But I see your point.
The simple answer is: The U.S. is turning into a poor less affordable country and the Philippines is an affordable developing country giving Expats more living arrangement options from low end to high end lifestyle.
@@JP67 and @dovoso5685 to answer your question family. Also many are retired US military married to Filipina's. Also there are more than 30,000 US veterans and military retirees who have single, double, or triple-digit income sources, bringing home $3,000 and upwards of $8,000 USD monthly. Example: veterans collecting 100 percent disability income with the United States Veterans Administration, making more than $3,800 monthly; military retirees making $2,000 or more monthly in their military pension; and those veterans collecting social security benefits, making an additional $1,500 to $2,000 a month.
That is hard to believe, Expats come nine Thousand miles from home to beg for Cigarettes or other minor things, because they hit hard times, Please !! also retirees come to these countries because their country is very expensive, if your retirement funds are forty six thousand dollars or more you would be considered wealthy there, most Expats retirement money is no where near that, that's why they come to these countries to live better, not to struggle like your suggesting, your not being honest.
Many go to Gated Communities here. Not everyone is poor that moves here.
I’m 71, so even $3,000 ain’t enough. Insurance can be very, very expensive- $800, +!
Health insurance!
Exactly but the vloggers won't mention Insurance
Alright, $755.00 to be exact
Private Ins. it's expensive for older people, and I have an idea lots of deductibles and other surprises will surprise you.
$1703.98 is average social security payment in the United States as of July 2023.. that is what Google just told me.. guess I am lucky cuz I'm getting $2,000 a month.. my next trip I am staying until I die in the Philippines.. within the first couple of months after I arrive next time I will pay my funeral expenses so my Filipino fiance / wife will not have that burden.. most Filipino women do not like to talk about death at all.. I think about death as a nice long sleep forever without any arthritis pain..hehe😮😮😊😊
@@eddieBoxer what island and town do you live? I might try it out 😁🍺🍻.. thanks 👍
46k seems high. Where did you get the data
Monte gave you a shoutout on one of the videos he did. Thank you for being realistic on the money needed to live there.
According to UK government website average pension is £1564 ($1962) per month - If you only have the state pension it is £880 ($1104) per month
That £882 rises to £958 pm from April 2024 👍👍
nice video and informative. I, unfortunately, have fallen short of this magic number by 50%. My yearly ss is only 23k which I receive 1.8k monthly. My spending budget would be 1.4k, my daughter in-law would say it's enough, but I know it's not. I also drained my savings years ago helping my family and taking care of my brother until he passed away a couple years ago. My fantasy of living the dream in the Philippines was just an illusion for an old man of 73. We have to play the cards we were dealt with, and hope for the best. I didn't plan far enough ahead to enjoy my golden years. So, I'll just sit by my computer and watch vloggers say how great it is to live the life of fun and sun. I still live my golden years watching my grandkids growing up. No regrets.
Great attitude 👍
Haha, at 1.8K these bloggers will say you are living in hog heaven, that all you need is 1.5K for the good life. Not sure what those people do all day but whatever it is it better be cheap.
You can spend the winter there, at least.
For 1400 a month you can live a really good comfortable life here in the Philippines. A caretaker livein will cost about 100 USD per month plus about 30 to 50 USD in food for her. Rent should be about 350 USD for a very comfortable resort type one bedroom apartment. Travel can easily be done roundtrip from resort to big town for less than two dollars. A nice local breakfast , lunch or dinner, nothing fancy but very good food, is less than 2 dollars. That's about 60 USD for 3 meals a day. A really good burger and fries cost $4.00.
That's a total of less than $700.00 USD for the very simple yet comfortable life. Your caretaker will cook for the both of you , run all of your chores if you like, do your laundry, clean your house and make you comfortable if you prefer. You still have $700.00 to spend on fun and save some for medical needs that will come up at our age.
Point is don't give up on your dream until you come here for at least 3 to 6 months and try it, I recommend 6 months. If it doesn't fit your desires then you can always go back where you came from.
You probably already have people here that will give you a hand if you have been watching bloggers for awhile. I like the Dauin area outside Dumaguete but there are literally hundreds of good locations to pick from many of which are cheaper than our area. Good luck and never give up.
@@earlclep1 ty for those kind words, much appreciated. Being single again, I should be ok, may start my journey in Iloilo city or Cebu lapu lapu island. then venture out to other areas, after getting my budget set up.
Technical note--Mean is Average---the 1 lowest & the 1 highest added together then, divided by 2. Therefore 1 high earner skews the number disproportionately higher---Would be better to know Mode income ( Mode is most frequent income).
Median would be more helpful. That way low numbers and high numbers won't skew it.
@@violaceous7174 Good comment--However, anything other than mean is better.
People use Mean and Average interchangeably, one and same thing. Your definition is incorrect. To calculate the average or mean you add up everything then divide by the count of things or itmes. So if you wanted to see the average salary of 11 soccer players on a team, you would add up all their individual salaries then divide that total by 11. Then you get the mean or average. Now if you wanted to see the range of salaries it would the salary of the lowest paid player to the salary of the highest paid player in others words the Minimum value to the Maimum value.
People also must consider those credit cards bills and maintenance of property they may own in USA . Those bills don’t stop. Thanks for another great vid.
Good point
@@RichTravel1010 thank you for your clear infomercial vids .
Best to be without any recurring financial obligations or debts in the U.S. before relocating abroad….
@@lzu2860 👍
The four of us, (me, wife, two kids), live on about $3,500 USD / month. Add in the fact that we also take care of her mama, her sister, her sister's hubby, and their two kids, and I would guess we spend close to $5,000/month.
If you can live in a bamboo hut and eat dried fish and rice every day, yeah, you can live on less than $1,000/month.
Retirement Pay is correct, retirement salary is not. Also, it is too high for just retirement income. I bet the average, or median which is more accurate, is only around 24-27K a year
It is a broad generalization, the numbers are not set in stone, you need to do your research.
I have expenses that I’m trying to get rid of, but I get $6,895 a month, and that will increase this January.
Thank you very much my friend 👍 We appreciate your honesty
The average retirement is $46,000 a year? That's over $3800 per month for average retirement in the Philippines? That number doesn't sound right.
That the number includes Filipinos who retired from the US Navy with wives who also lived in the US. They are mostly dual citizens with four or more pensions between the two of them and have sold properties that paid for very nice homes here. If he retired as a senior enlisted or officer and she worked as a nurse for 30 years those American retirees do very, very well.
$46,000 is far away from $18,000 to $24,000 cost of living that most expats promote ... $18,000 is $1,500 a month ... $24,000 is $2,000 a month ... $46,000 is $3,833.3334 a month ... that a big different to in the way they do their budget for their cost of living
There are many rich expats that go under the wire
It’s all subjective. One person might need $3000 to live the kind of lifestyle they want in PH while another is perfectly happy spending just $800 a month. The truth is that if you are spending thousands a month in PH you are likely buying a lot of luxuries, wants, etc but not needs unless you have a big family to care for.
$46k is like the very top end of SS benefits.
interesting conversation. a great survey!
I live well in Chaing Mai Thailand on less than $1k USD a month and have all I want and need. My financial adviser said I could budget 5k a month. I prefer to be frugal and spend as I need not as I want. I think the Philippines is more expensive than Thailand.
I like this comment, thanks for sharing :) You have the ability to spend 5K, but you spend only 1K. Also with 5K you can have a good life even in US or other places outside of metros.
@@pathkris2984 to follow up on this, 8 months after posting. I’ve been to Vietnam for a month and the Philippines for 6 weeks. I spent about 900 dollars in the time I was in Vietnam, the Philippines I spent 2,400 USD. Comparing the two IMHO Vietnam has better food, infrastructure, hotel accommodations and I just felt safer. I’m now back in Thailand. I didn’t find the Filipino people to be that friendly or having great command of the English language for 90% I had a conversation with . Customer service and respect was lacking compared to Thailand and Vietnam. Before anyone hates me for what my opinion is. I was married to a Filipina for 24 years, so I know the culture to a certain extent.
If you own your house free and clear and your car free and clear, it is not that expensive. My expenses in Isabela province are the following:
Netflix 500 php or 10 USD
Internet 1200 php or 22 USD
propane 2400 php or 42 USD
electric for both house combined
5400 php or 110 USD
Food 45,000 php or 820 USD.
Now I have not retired yet and live and work still in Colorado, but send my wife 2000 USD a month and she lives comfortably and still has 800 USD roughly a month for eating out, traveling etc. The key is you have to have everything bought and paid for already. You should have a medical fund set aside which is true, and any medical issues that come up I send money to my wife to take care of those issues separately. 2000 USD based on the above is a really comfortable living. Now obviously living in Manila would probably be at least 1000 USD more a month but I like the laid back quietness of Isabela province versus manila
All great info Steve! I blew through my 401k years (divorce) back after retiring from Lockheed Martin after 21 years. Current monthly income between SS and VA disability is 3K. Thinkin’ I’ll be okay…. Your thoughts?
Note: After reading some of the comments below……. Many of these Expats are blowing smoke out their Azzes 😆
U.S. veterans with service-connected conditions are eligible for medical care for both service-connected and non-service-connected disabilities at the VA outpatient clinic in Manila. U.S. veterans there also are eligible for hospital care for service-connected disabilities, which is provided under VA contract. Does this bother you?
Not true
@@RichTravel1010 it is true. This was copied from right from Google. Unfortunately your Socialist plan of redistribution is not going to happen.
Veterans Living Overseas
Veterans who live in the Philippines
As a Veteran who lives in the Philippines, you are generally entitled to the same VA benefits as those living in the United States. You can visit the VA Manila Regional Benefit Office and the VA Manila Outpatient Clinic for benefit assistance needs and for limited healthcare treatment for service connected conditions. The regional office and the outpatient clinic are located in the same building. The Manila benefits fact sheet provides a list of the healthcare services provided by the VA Manila Outpatient Clinic.
Has to be service-connected otherwise Manila won't help you. The VA in the U.S. will help you, service-connected or not.
You obviously have not been there to say this. It’s strictly service connected
After tax money?
That is pretty close as all my income is my retirement being Military and Social Security and FERS.
Is your FER's being offset because your also receiving SS? I ask because at 62 I will have 39 years FER's and probably apply for SS at that age and retire.
Damn, and there was me feeling smug. Thanks for bursting my balloon.
If there is an expat who has farming experience want to live free on a farm … we have water well , food and shed shelter with solar power , motorcycle and tools in return u get to maintain the plants, care for chickens, ducks , goats land size 2 hectares… location tarlac San Jose we live in metro manilla too far
Are you serious? I’m a hobby food-forest designer and permaculturalist. I designed, planted and maintained my own food forest in southern Shikoku Japan and have been living here for 13 years. I’m looking for land to relocate to in the PHs. Your farm sounds exactly what I’m looking for.
@@ShikokuFoodForestdid it happen? Curious
@@AFAMQuestPH Hello. This was 9 months ago, so this was long forgotten. I never received a reply. Are you an expat? Where are you?
I wasn't as smart as other exspat, I live on a small pension and my social security.
We have $2,800 coming in every month.
I was smart to put away money for my emergency fund and our start up fund.
Brought land and built 3 houses on different islands so we pay no rent.
Even with birthday, holiday and our anniversary I still manage to live a upper middle class lifestyle and put $500 a month in my emergency fund.
With 2 kids in college and a high schooler and grade schooler.
It really is what makes you happy in life and living a much stress free peaceful life is what life is about for me now.
As a Nurse if we want to do anything that cost more money I can always go back and work for 6 months if need be for now once I'm to old to do that then so be it.
It's funny how life changes, I'm back working in the state for 6 months to save the money to take my wife and kids to live in Europe for 3 months.
With all the anti Jewish crap going on in America and Europe we've changes our plans.
We are going to Okinawa Japan to visit family and now plan to rent an AirBNB for a few months.
I have found like you have said you want to make God laugh tell him your plans, best to be flexible as an exspat. 😂
Good video Steve.
Cool Japan it’s way better and beautiful
A triple dipper makes a minimum of 5K a month.
Is that $46k before or after taxes?
Before
A guy 40 years old retiring from the military after 20 years is getting somewhere in the 27K a year range. That's an E7 pay grade. I would say 25% of those guys get some type of additional disability. Not a huge bundle of cash but ok I guess .. Have to wait another 26 years to get the 1,500 or so SS
@@Waynekingagain yes
..I low balled the extra disability a bit. Some have yet to claim something too.
@@Waynekingagain 😂
I retired from the military back in 2014 at age 38. Enlisted..I get $5800 a month. Life is fine here in the Philippines for me. I travel a lot too.
@@thinkforyourself9334 You're receiving some military disability as well ?
@@PMLynch Of coiurse I did 20 years my man.
Thankyou for the great info on retirement money..
500 and 1000 are very different. You use them interchangeably like they are the same amount.
Yes, you can live okay on 1000 per month and no, your girlfriend won't need to contribute to the budget.
What you can't do is live okay on 500. Why do i even need to say this?
There are good 300 dollar one bedroom apartments. Add another 100 for bills like electricity, water, internet etc.
You are left with 600 dollars for food and entertainment, which results in going out for fun twice per week.
Is that a bad life? I think not.
Thank you for speaking up about the types of life you will lead on 1k a month. While we dont watch your vlog routinely, we do stop in on occasion to see your thoughts on a subject. Unfortunately the study that you reported on is rife with possible flaws, but it may be accurate. Would it be possible for you to put the link to that study I would love to see the entire article and its supporting math. That being said I got an interesting comment on one of my videos the other day about YOU. A commentor stated that if all they had was 1000 usd they would move where you and pointed out that yu only pay 100 usd a month for rent. I was wondering if that is accurate? Thanking you in advance....Mike and Arlyn
How much you can live on and be comfortable is VERY SUBJECTIVE. You person can be perfectly happy here spending $800/month while for someone else that is unbearable. There is no one answer. It depends on each individual persob
@@AForeignerAskingQuestionsnow that is 100% true. I shoot for 100k a month and do not live like a king! But your budget should never be your income!
Apologies for the typos. I think your last point is that you shouldn’t be spending all the money you bring in. Save a little for the unexpected.
Where you live is so important. For example comparing Metro Manila to Baguio is a stark contrast. Just got back from 45 days in PI and was shocked at how expensive Manila was. Food cost was out of sight, transportation and decent Hotel expenses were budget busters. Spent a few weeks in upper Luzon and the differences were remarkable. You can live a very good life style outside the major cities for $40,000 to $50,000. Maybe less if you lower expectations. Your information is accurate.
BS Baguio is $$$$$$$$$$ just like Manila. We just moved last week. Too Angles City from Baguio. Food is cheaper. Water is half what it is here. Fuel is less also. Store prices are 25 too 50 % less in Angles City Pampanga.
SM Mall in Baguio was a lot less than Manila. Hotel was half Manila cost and you could go any where in Baguio via taxi for about 200p whereas Manila was over 1000p I am sure Pampanga is cheaper.@@gildavojta7943
Ok lets put this into perspective. An acceptable salary in the philippines is P30000 net. Thats $535 a month. If they can make it at $535, i dont see why one cant be reasonably comfortable at twice that amount. Unless you want to put your self in a situation where youre responsible for your gf and her entire family.
Hey Steve. 46k seems high. When you say $2,000-3,000 is sufficient, for an expat, does that amount account for 2 or expat only (in a normal lifestyle and heath situation)?
Also, 10k would quickly be exhausted. Would 50k be sufficient (after outright buying a car and house)? Or, would you say more than 50k? Do you know of a mathematical formula available to run scenarios to provide a savings number? Take care.
2 people can live on that and save and have decent insurance too
If you're talking about an emergency fund, 20k is probably good. If you're talking about portfolio value to sustain a 4% withdraw rate, I recommend 750k.
Living in the Philippines now is just a dream.
And I tell you what it's no holiday!
You are so correct. I’ve lived here for quite some time
@@ForAndroid101 I couldn’t agree more. What I hate is when I’m with my family and because I’m a white American every blogger thinks I want to be interviewed and put on their channel. What I want is my privacy
I do not really talk to expats .and none live around me .just see in mall I just hang with my family here
@@Cowboysfan4ever that sounds annoying! People are termites. They find a meal, eat/destroy everything they can and then continue to the next. Enjoy your life out there! Best of luck.
One of the problem in the Philippine is the health care cost especially the hospitalization cost. The first thing that expat should do is to apply for Philhealth and should go to govt.hospital when you get sick. Private hospital are very expensive.
Expats who have a Big pension will Not Disclose how much their Net monthly is worth.
very true im one of them sir 🤫👑🤑🎉👍💯😎
Yeah some of those they don’t tell you their whole situation.
Younger people make much more than 46k now that's for sure. Many digital nomads are north of $100k.
Agree
S.S. Only… so nowhere near $46K! But my fiancé and I are going to live close to my income, and all of the money she brings in will go to savings. Plus I have “emergency money” from the rental of my house. After 2 more years, when the housing market is revived, I can sell my house and build a new one, and then we’ll have a better budget margin, since we won’t be renting.
Pssst "revived" average median house in usa up 120k in two years...I heard its similar across the globe.
@@willieshoemaker8680 in my market the new houses in my subdivision that were completed 1-1.5 years ago, are only bringing in a very small increase. Our market got saturated when the housing boom was going on 1-2 years ago. Different regions are experiencing different results. But 8% interest is keeping a lot of people from buying. But they’ll rent!
Very good information Steve here in UK pensions are very different . 67 is retirement age for workers at 60 now I think state pension at this time is around £804 per month around thousand dollars .This is for 35 years paying national insurance stamp . Obviously a private pension would help this amount and savings a godsend . And Obviously the ex wife's payoff doesn't help the situation. Thanks for the good info keep up the good work .👍
Yes in uk we not as lucky pension wise compared to that of Americans
Actually a full UK state pension is £815 every 4 weeks or £882 monthly. Will be £958 pm from April 2024. 👍👍. That with 2 other pensions allows me to do most of the things I enjoy in the Phils. 👍
@GabeGeno The only good result is property value has risen substantially and with a good solicitor you can come away with 50%. Which I suppose is 50%more than in the Philippines 😂.
What? I ve lived here 11 years. Every expat I now leave on about $2000 a month. Not sure where your getting your info. That's 110000 peso a month.
I guess it depends where you live
That may be, but my lawyer here says a upper income in samar is 65000 peso. We have 18-38 square meter apartments brand new, beautiful and modern. We charge 8000 peso per month. 150USD. Electric could be another 6000peso water a few hundred peso. So living in the Provence easy on $2000 a month. Some people I know in papanga angeles city. Live on 100000 peso per month. Rent is anywhere from 15000 to 25000 for the guys on ss only. Of course if you have money it can go over 100000 peso per month. But you can live on $2000. In these 2 communities comfortably
Expats “on average” are bringing in $46K USD a year? I find that hard to believe Steve. That’s $3,833 a month!
Now I can see why Filipinas and Filipinos think we’re all millionaires. Not a good sign.
Just presenting what the article said
It's roughly what most expats that I know make if you average them
I wonder if you take quite a few high incomes of expats living in the philippines, you might arrive at that average.
but the $46k USD per year was cited for all expats, not jusr retirees - is that correct? If yes, then the number includes people activately working in the philippines or people with additional monies outside of just SS. Just my thoughts
@@RichTravel1010 Did you provide a cite for the article anywhere? I cannot believe it applies to most retirees, maybe expats averaging in Western Executives of foreign companies etc.
Great video. I would have expected $30,000-$36,000. I'm surprised so high.
Will 3 thousand dollars a month be enough
Internations is a business/entrepreneur group where the majority of its members are working professionals, so of course the salaries are going to be higher. They don't take into account the majority of expats who are here on a small retirement pension or social security.
That turns out higher than you expected because that is the AVERAGE (meaning it can be easily be lifted up by a very few who are really very rich). You should have gotten the MEDIAN which would more likely show the earning of most typical expat.
You can live there on $1,000 a month, but there's little money left to enjoy life there unless all you want to do is walk the beach and eat cheap food.
I just moved into this apartment before Thanksgiving it's nearly $900 a month when I retire I want to get 12 to 1400 dollars a month from social security. Rent-to-own in Philippines will make a difference in my survivability.
Rent to own what?
I have 10 years before I retire and am looking at a $3500-4000 a month return on investments without social security added in. Looking to locate in BGC or Eastwood to start off and see where I like the best. I will shoot for a $2200-2500 a month budget to start off with and continue rolling over investment dividends. I have no intentions of dating seriously for the first year or so in order to figure out what I want personally, where I want to live, and if I want a long term companion/GF/wife at all.. Been divorced for nearly 30 years and it took me a good 20 to dig out from the shithole she left me in financially..
With all due respect, there is no way the "average' retirement salary is 46k per year. A majority of expats are living on SS, which is nowhere near that much. How many expats have you met that receive over 3800 per month from a 'salary''?
Quite a few actually
@@RichTravel1010 - A few is to be expected. But the average overall SS benefit is 1919.00. Thats less than 24k per year. And it's not as though retirees are working there.
@ many get municipal pensions or military pensions or Disability plus 401K’s and annuities, Etc
@ The average person doesn’t just have SS when they retire.
@@RichTravel1010 - But you said "salary". Investments and pensions are not salaries. Hell, SS itself is not a salary, you miss phrased this altogether. Very few vloggers claim 46k per year, I know that. Geez.
Living over 1k is horrible if your an Expat, you are on your last years in life. You do not want to live frugally, you want to live a comfortable life. As a Filipino who moved to US at a young age. 1k a month is comfortable since I built a modern home already but I made sure I get atleast 4k a month from my investments at minimum.
if i can live on 1400 in ALASKA !!!,, i can live on alot less in philippines,!
@@garydavis9887 what part of Alaska do you live? How much is your rent? Thanks 👍
@@richardhowe5583 He owns a home free and clear :)
If I can live here in American on my s s I which is 1800 a month I should be able to live there with any problems
Buy a house and car while still working in the USA. Then with SSI. Pension. And 401k money can live a good life. If possible buy lots. Land values in the Philippines really going up.
Kiwis and Australians have just monthly 2000 AUD pension as its a universal pension which is 60k pesos per month about 1000 K USD per month.
That sum is for the basic pension paid to everyone. However, most Australians also have what is called a superannuation pension that is based on the amount that they saved in a pension scheme.
@@LeftyKen Superannuation is a lump sum one of payment and its not a pension. Its like a savings account. If you have a rental property thats similar to a government pension as you get it weekly.
No woman in the world wants to live in poverty! Now look at your budget if your looking for a woman Keep speaking the Truth Steve👍💚
46,000 = 3,800 per month. average. wow I say that is a bit above that sweat spot. what if you're at the 2000 side of that sweat spot... mmm that is about half of average,, wowza. Last month I spent $2594 all in NO rent. Two adults not going out at all. living in Bacolod.
Food $338 Booze $260 transportation $22 then the rest Miscellaneous $829 electric, Wi-Fi, cell phone, $1142 wife allowance, child support, laundry, B-day, health Ins, amazon order, parts for the house, gas for car etc. etc. $2594 total. didn't try to budget just wrote everything down to see... The rest of my pension I saved. One trip to Dumaguete that was $500 but its included...so if no trip it would have been 2K
Truth … everyone needs to hear this… Everyone… I don’t live there but I go there 3-4 times a year… No way I could make it on $1000 a month … $1800 to $2000 is much more reasonable… 2-3k you should be banking at least 500 a month … Biggest point do the research yourself… key word yourself and don’t depend on vloggers to make your financial plans for you… This video needs to be put out every few months… Too many people being unrealistic about what you need in the PH
I am 61 yrs old what is a good amount of cash to have saved
Is that 46k before tax? If not then that's over 170k php per month and it leaves me wondering where we would stand with our budget. I'm expecting between 130-150k php after tax. We should have a rather large nest egg from the sale of our house but we'd probably lose over half of that if we bought a car outright and built our own home in the Philippines . Either way, renting or not and with health insurance, I'm hoping that we'd be fine on that budget but with this "average" I'm less sure how it would hold up long term.
Can you have an active investment accounts while in the Phillipines?? I am not talking about a in country savings account but say with an investment house like Fidelity.vangard ???
I really appreciate that you’re always passing on candid information Steve.
The BS artists drive me nuts.
It all depends on what kind of lifestyle you’re accustomed to or what kind of lifestyle you want. I can tell you, for me, I EASILY live in PH on about $14k to $15k a year. I live VERY COMFORTABLY. But others might not like how I live. I’ve never been a money spender. I’ve always been the type to just buy what I need and maybe a little extra but that’s all. If I was spending $3k a month I have no clue what I’d be buying 🤣
In the last few weeks, I've seen multiple vlogers flip-flop on income requirements for living in the Philippines. I'm painfully aware vlogers are looking for content, which = $$.
None of the vlogers are retired people because every last one of you are working/hustling for subscribers.
Average American social security payments are $1,706.98 per month.
As of 2022 the median US household income was $74,590. according to the US Census Bureau.
So at age 65 and 11 months the monthly S.S. payment would be $1,867.
Most Americans are currently living paycheck to paycheck so I don't actually believe the numbers you got.
I'm retired and don't ask for Patreon or Donations and I don't do thumbnails or push for subscriptions ....... I also don't just push out content if I feel it's substandard. Also many that I know here are at that rate and higher in some cases. Some areas attract the lower retirement incomes and others go into Gated Communities here. Nor would I say I "Hustle" people for subscriptions...... I would go on to say that my channel is one of the most organic and has the most organic subscribers and members in the Expat Community here.
Your right on the money I'm approx 4k a month and live a good life .been here 15yrs sure the cost of living has gone up over last 3 years but when guy says they can get buy on $1k good luck I'd say the sweet spot is $2500 a month living the good life . However I'm not into drinking or bars. I do give my wife's parents couple hundred a month .it was her responsibility to take care of parents so only right. We do eat good go out once a week to eat and buy what we need. Live in a nice subdivision in angeles. My wife of 6yrs never asks for anything but i like giving my late wife filipina her family always asked for handouts. So as i said the real sweet spot is $2500 a month leaves money for rainy days.
I know you told me once already but can you tell me again what city you live in? I forgot and can not find your previous reply. We will be in the PI in March for two months and I may drive by your town.
I have no intention to live with a women ever again. I quit dating two years ago. I'm done with that. I'm looking to retire and live in peace. I'm 53, waiting to enjoy my freedom 55. I'll have 3 000 $ budget, no wife no kids. I'm a lone wolf by nature. I enjoy sport fishing, playing pool and golf. I don't really get lonely. I want peace and tranquility. I do enjoy company occasionally, only if I feel like it. I speak French and English. I've had a good life, kids are grown-up, totally free. I'm a quiet person and value my privacy. I'm not looking for sex, relationship nor marriage. My retirement could be in Thailand, Malaysia, the Philippine or Vietnam. I want to eat a decent BBQ steak once a week. Any suggestions ?
Sounds like you have no roadblocks haha
Steak? I'm assuming Philippines and Malaysia are you best bet haha. I've never seen steak offered in a Thai or Vietnamese restaurant.
Is it possible b to live here on $500 / month? Sure ... Lots of Filipino natives do it. But it means living in a studio apartment, no air conditioning, eating rice and fish for every meal, etc. I've heard people say you can "live like a king in the philippines for $1000 A month!" I think not like a king, but more like the lord of the flies.
How much does a house cost there to buy or rent a house over there ?
Really depends on what you like. I am doing a budget vid that will drop on Wed.
The UK state pension is only about £220pw.
It seems that your figures would also see you live very well in Europe as well on $46,000 a year!
I personally would love to be on half of that!
I currently balance my budget, live OK, still have an admittedly very small mortgage too.
I'd like to see a few of these videos from the point of an English man on just our state pension who has lived in council (local authority) home/houses/flats all of their life and always worked a minimum income job.
To me that would reflect reality not those who retire on a substantial American pension.
Good video with great information .. thanks.
I think many foreigners move to the PI without realizing how expensive it can actually be. I travel back and forth a couple of times a year to the US for one reason only - healthcare. I also believe your numbers are very close if you include those costs. I also believe it depends on your lifestyle. I have a province home and my expenses run less than $1000 per month, but when you add in the cost of traveling .. it's obviously much more. The folks you talk about really need to do their research before moving.
What I find disturbing is the increase in the cost of things without the increase in the standard of living. The Philippines is moving much to fast and leaving the ordinary people behind, but that's just me.
I’d have to believe that the average retiree’s there living on SS alone are well below $46,000 a year.
$1782.74 is the average SS payment in 2024. So if that’s the average some are below and some are above that. The max SS payment is $3,822.00 so about 46k annually.
There must be a group that have other income sources. Dual pension like military and then SS checks coming in. There certainly are a lot of military retirees there. So put in 20 in the military and then another 20-25 years in civilian workforce and you have got it made. $53,700 is the average military retirement, not a bad chunk of change. Officers get the best like a CEO retirement. Noncom less but still good.
Many here have multiple incomes.
Average and median is not the same thing. Say you averaged the incomes of 10 people. 2 made 20K, 7 made $30K and 1 made $500K. The average would be $75K, the median would be $30k.
Just pointing that out.
Sorry, but that sounds way high. 3,800 a month? Average?
Yes
you cannot live on 1000/ mo. It is impossible. If you dont have at least 2000 , stay home. No one ever talks of HEALTH INSURANCE COST.
I do constantly
Hi Steve, I was wondering about TV reception in the Philippines the other day. Can American TV be received in the Philippines. Who does it?, is it even possible? I am talking Fox news, CNN, weather channel, the history channel, TLC, Lifetime, etc. What about direct TV or Dish network ? What would be the cost. Maybe you can research this and make a future video about the subject ?
You can get it many ways
1 - Get good internet connection
2 - Get VPN with dedicated USA IP address
3 - Get RUclips TV
4 - Enjoy
Another great video. Always love how you tell the truth and don’t mislead folks.
Thanks
You can rent a house for around $200 or less a month in places like Davao city. Then the cost of electricity water will add around another $40. Food for an individual can cost $200 a month. Add an extra $100 for expenses. So say around $700 a month for 2 people is very reasonable in my experience. Of course depends always on your lifestyle etc. Just my opinion. Take care all.
Whaaaat? Our electric bill alone is over $200! We won't live in a sweatbox!
I’m in Davao, I must be doing something wrong as I’ve spent 78k so far this January and that doesn’t include rent.
what do you pay for health insurance?
It depends where you live and how much you travel. I live off of 1000 - 1500 me and my fiance and her son
how much do you pay for health insurance?
@pb12661 I'm gonna go to the VA and get tri care in not sure how much it cost
@@keithlopez7268 thanks :)
good video. seems about right tho, you should have around 4-5k/month income before coming to the Philippines. people need to consider healthcare, medications, western food, supporting your GF and her family and kids.