Hi Bruv, enjoyed your video. A very realistic view of what is available for a $2,000 $2,500. If you're not partying every night and you don't have an alcohol problem you can live exceptionally well. This will be my budget but I don't expect to spend it all. As a single 58yrs old not looking for love or casual partners I think I could save a $1,000 PCM. Some months I would spend more because I like to tour the country. All in all, it's I think it is what ex-pats should aim for. I know it is not always possible and you can live much cheaper but for me, I want to retire in comfort and not struggle. Keep the vids coming. Take care GOD Bless you and yours. M
Yesterday I watched a couple of videos about Subic Bay. The prices that I seen for things like housing and even coffee seemed to be quite high. One Hotel had a rate of $75 US a night for their smallest room. There was also a poster on the street advertising a one bedroom furnished apartment for $600 a month. Maids have been known to spread info about you to friends and family. As a single person, I would not want others to know where I was and when. They may tell someone that you have gone to another Island for a week, and you come home to an empty house. A friend of a friend heard and seen an opportunity.
As always Steve great information. I retired last week and now just hoping they open up soon...maybe by June or July. But if not maybe before the end of the year....Sitting on GO
Great video, thanks for the honest advice. I think your numbers are spot on, and I almost always agree with your perspective . Keep rolling out the videos, they are greatly appreciated, thanks.
I would hire a labandera for the laundry so that I can help her have a job. No rent because we have a main house and apartments. I would go for the $70 wifi. I would also order delivery from restaurants to help them (many are struggling). Look for businesses to patronize since they are struggliing. I don't want to buy a lot of things because I love the minimalist lifestyle. Most of my money, however, would go to renovations of the main house and the apartments. Construction and maintenance jobs for Filipinos. Each apartment unit we have is two storeys and two bedrooms. And that's nine units (located near Ateneo, Miriam College and U.P.). Additional business I would like to have? A cafe and a beauty salon/barber/spa. Btw, I will subscribe to your channel. You're a nice, humble person and you live like a local. Very good videos. Thank you.
I definitely appreciate your opinion on the house as opposed to the condo as I prefer to stay in a house. Before you started talking about it all I ever heard about was staying in a condo. I had no idea it was so inexpensive. Great video.
To put it in perspective, here are some of the highest-paying jobs in the Philippines with their respective average income per month: (1 USD = 47 PHP) -Police General: 121K PHP (2600 USD) -Doctor: 110K PHP (2,300 USD) -Lawyer: 85K PHP (1,800 USD) -Airline Pilot: 80K PHP (1,700 USD) -Architect: 50K PHP (1,000 USD) People with these jobs are considered upper middle class in the country or even "Rich" in many provinces. They live a pretty good lifestyle even with big families. To be truly be considered rich in the Ph, you need to make at least 200K PHP per month (4200 USD). Also, only 0.1% of the entire Ph population has a net worth above 1 million USD - happy to be one of them : )
Those are just the base rate. If you're a professional and you have a good practice you can make way more than that. Also most Filipinos don't rent, don't have mortgages, they own their home or they live with a relative. Their biggest expense would be electric and food. Filipinos don't eat a lot like western portions and they are acclimatized to the climate so they don't use air conditioning 24/7.
Thanks a lot.. I think you are the only one who factor the Foex into the budget.. I think it is really important to have Inflation & Forex to the budget..
Nailed it! We're a family of 3 on Cebu, 2 adults, and a teen. We live in a somewhat upscale subdivision and our cost is around P100,000 per month. I'm retired military and I pay upfront for health care. Then I file a claim for up to 75% reimbursement. I miss the good old days when this was only costing me P50,000 a month. But it is what it is.
Greetings David. I'm Navy, retiring in 14 months and asking vets info for research. So question: I heard that TRICARE Overseas is useable in PI. Also there is a VA office vets can seek medical assistance at. Is there truth behind this?
@@jasoncease6288 If you live or travel in the Philippines, you must see a PPN provider or a certified provider for your medical care. You're encouraged to visit PPN providers if you're enrolled in: TRICARE Overseas Program (TOP) Prime. At age 65 you lose Tricare for life and must use Medicare Part B. I will just buy Pacific Life but remember to have cash up front and then get your reimbursement. The VA in Manila is different than in the states. They will only attend to your service connected disabilities.
Great info Steve! This video eased my apprehension about making the move to the PI after things open up. Thanks also for your walk-around vlogs of your area...it’s high on my list of landing spots. Keep up the great work!
That’s a lot of money for a budget. But every situation has its on purpose. If you wanna go like that of budget, hey! that’s awesome. But if your like me, been in hardship while growing up, and was able to took that opportunity, if I downsize now in Philippines 1000 to 1200 is more enough for the both of us me and my husband. It is just a matter of necessity and needs.
I've worked for the last 10 years of my life just saving as much as I can,I plan to move to Philippines and use my yearly interest from my fixed deposit as my income while I'm there,my budget will be $7200 per month.I will be staying in Cebu though.
the monthly budget is not really the issue ,its chump change, most people overlook the initial massive expense of setting up everything you need for your new life, transportation,appliances,tv,fridge,furniture cookware utensils the list is endless , these are the things that really contribute to your quality of life
@@RichTravel1010 really rough, I'm from New York City, I have some good friends around the BU aria in Beantown Boston. Used to go there all the time during college few years ago man :)
Out of my experience I 100% confirm your calculated budget. This should be the budget everybody should use for making decisions. If you base on lower budget, you could easily come into deep sh.. 👍👍👍👍⭐⭐⭐⭐ If you base on this budget, finacially you are quite save
I hate living there for good I think I would because I own house’s here and don’t want to sell them right now. I am keeping one no matter what.. That’s a little higher than I was thinking about but I have that coming in so I can do that and still have it safely net. I was thinking about 1500 usd but I can always take it up a little later on. I was thinking maybe 6 months there and 6 months stateside.
That kind of money is allot of money in the Philippines.....The average guy can get by under 1k a month ... But then again it all depends on fluctuating currency rates, so there is no exact variable. But a simple apartment and eating out modestly about $800-1K a month.. If you are well off and live in very nice means, then you also run the risk of attracting too much attention. So it is a fine line..comfort...vs ...peace of mind also. Cheers!
Another good video. Watching the progression of your budget videos, the numbers increase. Seems to be because you’re learning more things that are important to have while there as opposed to your lifestyle increasing. It’s nice to learn from someone else’s experience.
We bought a very small home here about 11 years ago 800,000 Pesos. We furnished it inexpensive furniture. We only stay in it when we are in Philippines. It stays empty when we are back home. Wife's sis in law goes around occasionally to check it. Her boys keep it clean. Just pay annual tax on it. Sis in law takes care of utilities.
@@erictrippe2778 I think it may have been more clearly stated as "$2500.00 x P48.00 (current exchange rate) = P120,000.00... I believe this is what was intended.
I thank you because you are smart guy, you know how to go around in the Philippines and most of all Please help other foreigners the families of the woman they marry becomes their dependents, who are jobless and lazy. .I am a retiree too and l have experienced how hard it is to earned in America.
I agree. Same in southern England. I live very well with my family on £1500 including £600+ mortgage, car and holidays. Mind you medical expenses are covered by the glorious NHS. So 2 more years of saving and then I’ll retire at 53 in warmer climes, living off investments. Can’t wait.
I was living in Palawan with 2000 doing great two people with motorcycle for transport,and have a litle banka for travel and fishing. Now i what to come back and build a big banka and live on whater, without pay the rent.
My plan is to purchase a property and build a house 2 years before early retirement of 62 in the Philippines. Use SS income to live off and 401K savings as emergency fund and slowly use it for leisure. Return to US every 6 months for medical check-up.
Steve, I will be 66 soon and will be recieving in excess of $2500 a month between 2 pensions that will have cola adjustments. I have no medical issues other than a little arthritis and take no medications. Do you see any problems for an older guy like me, i really have been looking forward to moving there this spring after i sell my home.
when we rented a 2 bedroom house for $80 a month. Our living expenses I mean everything was $420 a month. Where I live San Juan Batangas it is cheap to live there. $800 a month will be fine.
Wow , i could not handle that, where is your monthly travel budget , which includes hotels and airfare , for your travel around that beautiful country.
This was very helpful. I am now planning for early retirement in the Phillipines. I'm 48 now, and planning. My wife is frugal! She does not like to spend money. This would be a busget when I finally retire, but for now I am just building up to it
Hi Steve...I would want to furnish my own 🏠 home. I have a question here in Michigan I have leather furniture and so I wanted to ask do they carry leather couch or lazy boy recliners there in the Philippines?
I'll give you my observations. For some reason, leather doesn't seem to hold up very well here. My two year old leather belt has just about disintegrated. The same belt would last me 10 years in the U.S. My leather wallet is degrading also. A good leather wallet would last 15 years in the U.S.
Great information. Have you done a video on "start-up" budget? If you come with 2 or 3 suitcases only, what do you think it takes to get an unfurnished apartment/house and life started? Set up the house, start up the groceries, start up the phone, internet, gas, water, electric. Are there deposits for utilities?
Thanks for doing this one Steve. I see a lot of people putting out videos saying one can live like a king for $800 to $1000 a month. I averaged $1750 per months living expenses from Dec 2019 to Dec 2020. I don't want for anything, but I don't go crazy either. Food is one area that I could reduce my spending. I eat mostly imported western food. If I could eat like a Filipino, I'd save $500 per month.
Good start I've been here 13yrs need to have some money for wife's family either older parents or siblings still in school. Approximately 10k pesos per month but still get buy on 100k a month no worries
For me it's going to depend on my emergency fund, funds saved that I can dip into as & when required out of the usual day to day stuff. My monthly calculations in how I want to live = $1200 & that's being comfortable & living a pleasant life...a rented scooter/gas, some travelling etc. Single guy. Not interested in materials other than essentials, not interested in expensive meals out, not interested in wasting money needlessly when theres alternatives.
You were talking about a maid. Do to a back injury I suffered a long time ago, I would love to have a professional maid, like a nurse or a massage therapist. What do you think it would cost me to have someone like this full time ? Please make sure, if you are able to answer my question and be kind enough to find the time, please make it a good pay. I would rather try to pay a little more and make someone happy to do their job. Thanks in advance.
@@RichTravel1010 Thank you. I was asking because, I know I wouldn’t be able to afford any type of full time support or help from anybody, and certainly not from a professional nurse or massage therapist, and I am therefore seriously thinking of moving to the Philippines. Obviously it is not the only reason, as I would love to travel around in Southeast Asia. And why not having someone around you that could make things easier on me and my health. Again, thank you for your time to answer my question. Maybe I get a chance in the near future to thank you in person. All the best to you, your channel and your family.
As always a fantastic video and somewhat of a realistic approach, unfortunately my army combined pension is going to give me at 55 years old €1790 a month, however I will also get a hefty one off tax free lump sum so plenty of emergency and just incase funds so somewhere close to your comfortable $2500 a month figure, The plan is a few months around Angeles / Clark area then down to Subic but nothing is firmed up and I will see where fate leads me to!
The setup costs and rental deposits are a big cost. Once you are set up you can live well in a nice subdivision going to eat or movies for around a 1000usd a month.
Great video lots of things to think about Can you send me a link or the information on the health insurance you were talking about i am planing to set up myhome there once the COVID thing is over and one of the first things I want to take care of is my health ins. Last time i looking into it they wanted an arm and a leg I am 67 and i am sure thats why they wanted so much your plan sounds a lot better THANK YOU KEEP UP THE VIDS THERE GREAT
Depends on what kind of life you want to live. Outside the big city I can live okay on 500 a month, however normally I live between 600-650 a month. My internet is less than 40 bucks a month. Electric is between 80 and 120 depending on the weather and yes I use AC all the time. At best I use 200 a month on food. Granted I don't eat out much, But I have gotten food poisoning eating out, so it is something I don't do much. I basically live an American lifestyle quiet. I even just bought a new 2022 Honda City sedan. Only use Philhealth. I have a one bedroom apartment for 120 a month and I live off of 1,000 a month. Now I live in Mindanao in a town with a mall, a bunch of gas stations. it's not the boonies but it's not the big city either. but I have been married to my wife for 17 years. It is so easy to spend money here you can become broke without even a thought. New guys always spend to much money on there life here, no matter what you tell them. This isn't the western world. Money is hard to come by here treat it with respect. I'm telling you now don't buy or build homes, it's not worth it in the long run.
Hello, I have a quick question that I can hope you can help me out with. My plan is to retire again and movie to PI and should have a monthly income of at least 7500 dollars a month and I have a fiancée who lives in Baguio city. I’ve been told that I can only have roughly 10,000 dollars in the bank there. If I’m getting 7500 dollars a month and plan a budget of say 4000, what’s the best way to keep your money in you PI account maxed and should I just keep the rest of the money an an a American account. I have Navy Federal too if that helps out at all.thank you.
You can have more than US$10,000 in a Philippine Bank but anything over that amount will not be insured if the Bank goes belly up. So locals with more than US$10,000 in savings will spread their deposits over several banks. I think it's the same in the US where the Gov't will insure a maximum amount of deposits per account. Last I looked I think it was US$100,000
Headed over there in a few months. Do you feel that Filipino landlords will raise your rent after one year? My fear is if I paint or fix up the place with my funds then they turn around and say “ok now you pay more each month or move out.” My wife also said that’s why she doesn’t want to fix it up but I can’t live in a dump either.
My wife is from a small brgy in Bohol. We rented a small 2 bedroom home where her family lives. It has AC only in the master bedroom. The rest of the house doesn't even have windows, just bars over the opening, which actually lets lots of air thru... Lots of trees on the lot. How much? 1500 per month... that's Pesos, about $30. We discussed this with the owner and agreed, any improvements we make, the cost gets deducted from the rent, also agreed then on a purchase price if we decided to buy it later. If you're a decent person and treat people with respect, generally the respect will be returned.
Question, when you deposit money in the bank in the Philippines is it held in the account as dollars or Pesos? If it is in pesos that would provide you protection from the Forex if the dollar continues to decline. Of course it would hurt you if the dollar increased.
It’s our golden years. Let’s live best we can. But to live in the boonies, with roosters, dogs barking all day, no showers, no running toilets and not so great Filipino food, it’s just too hard for me. Plus what the hell to do in the boonies? Like your budget and agree that everyone has their own likes, but I can’t limit myself to anything below 2.5k. Hopefully my son doesn’t mess up our business . Lol Good stuff here
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Ohhhh massages. The one thing I really miss from the Philippines!!!! $6 an hour. Heaven!
Hi Bruv, enjoyed your video. A very realistic view of what is available for a $2,000 $2,500. If you're not partying every night and you don't have an alcohol problem you can live exceptionally well. This will be my budget but I don't expect to spend it all. As a single 58yrs old not looking for love or casual partners I think I could save a $1,000 PCM. Some months I would spend more because I like to tour the country. All in all, it's I think it is what ex-pats should aim for.
I know it is not always possible and you can live much cheaper but for me, I want to retire in comfort and not struggle.
Keep the vids coming. Take care GOD Bless you and yours. M
Very well done and realistic and great you hammer home the extra $500 to put away and build a healthy rainy day fund.
Yea I am one that will have no issues living in the Philippines.
Thanks for another great video
Once again excellent advice , specially about health and having an emergency fund
Yesterday I watched a couple of videos about Subic Bay. The prices that I seen for things like housing and even coffee seemed to be quite high. One Hotel had a rate of $75 US a night for their smallest room. There was also a poster on the street advertising a one bedroom furnished apartment for $600 a month.
Maids have been known to spread info about you to friends and family. As a single person, I would not want others to know where I was and when. They may tell someone that you have gone to another Island for a week, and you come home to an empty house. A friend of a friend heard and seen an opportunity.
As always Steve great information. I retired last week and now just hoping they open up soon...maybe by June or July. But if not maybe before the end of the year....Sitting on GO
Good Luck Big John
I’m going to wait till after the first wave hits there and see how the lockdown situation will be after that my money can just stay out for now.
Excellent info.......
100% perfect info. Everyone should base his decisions on this budget to be save.
Great video, thanks for the honest advice. I think your numbers are spot on, and I almost always agree with your perspective . Keep rolling out the videos, they are greatly appreciated, thanks.
I would hire a labandera for the laundry so that I can help her have a job. No rent because we have a main house and apartments. I would go for the $70 wifi. I would also order delivery from restaurants to help them (many are struggling). Look for businesses to patronize since they are struggliing. I don't want to buy a lot of things because I love the minimalist lifestyle. Most of my money, however, would go to renovations of the main house and the apartments. Construction and maintenance jobs for Filipinos. Each apartment unit we have is two storeys and two bedrooms. And that's nine units (located near Ateneo, Miriam College and U.P.). Additional business I would like to have? A cafe and a beauty salon/barber/spa. Btw, I will subscribe to your channel. You're a nice, humble person and you live like a local. Very good videos. Thank you.
Thanks for watching and the kind comments
I definitely appreciate your opinion on the house as opposed to the condo as I prefer to stay in a house. Before you started talking about it all I ever heard about was staying in a condo. I had no idea it was so inexpensive. Great video.
To put it in perspective, here are some of the highest-paying jobs in the Philippines with their respective average income per month: (1 USD = 47 PHP)
-Police General: 121K PHP (2600 USD)
-Doctor: 110K PHP (2,300 USD)
-Lawyer: 85K PHP (1,800 USD)
-Airline Pilot: 80K PHP (1,700 USD)
-Architect: 50K PHP (1,000 USD)
People with these jobs are considered upper middle class in the country or even "Rich" in many provinces. They live a pretty good lifestyle even with big families. To be truly be considered rich in the Ph, you need to make at least 200K PHP per month (4200 USD). Also, only 0.1% of the entire Ph population has a net worth above 1 million USD - happy to be one of them : )
That always amazes me when I see this.
Most of the avg houses in my area have over 1million value. I'm not sure about that 0.1%. I see a lot of rich people here.
Those are just the base rate. If you're a professional and you have a good practice you can make way more than that. Also most
Filipinos don't rent, don't have mortgages, they own their home or they live with a relative. Their biggest expense would be electric and food. Filipinos don't eat a lot like western portions and they are acclimatized to the climate so they don't use air conditioning 24/7.
Thank you for that comment.Moving there :)
I’m interested on the Pacific Cross Insurance.
Hi Benjie. I did several videos and they should have all the info in the video or in the description.
Thanks a lot.. I think you are the only one who factor the Foex into the budget.. I think it is really important to have Inflation & Forex to the budget..
Like your channel thank you for sharing the info you do , also you seem to be good and nice person thank you for that also.
Nailed it! We're a family of 3 on Cebu, 2 adults, and a teen. We live in a somewhat upscale subdivision and our cost is around P100,000 per month. I'm retired military and I pay upfront for health care. Then I file a claim for up to 75% reimbursement. I miss the good old days when this was only costing me P50,000 a month. But it is what it is.
Greetings David. I'm Navy, retiring in 14 months and asking vets info for research. So question: I heard that TRICARE Overseas is useable in PI. Also there is a VA office vets can seek medical assistance at. Is there truth behind this?
Interesting...I'm retired Army. How do file for reimbursement?
@@jasoncease6288 If you live or travel in the Philippines, you must see a PPN provider or a certified provider for your medical care. You're encouraged to visit PPN providers if you're enrolled in: TRICARE Overseas Program (TOP) Prime. At age 65 you lose Tricare for life and must use Medicare Part B. I will just buy Pacific Life but remember to have cash up front and then get your reimbursement. The VA in Manila is different than in the states. They will only attend to your service connected disabilities.
Great info Steve! This video eased my apprehension about making the move to the PI after things open up. Thanks also for your walk-around vlogs of your area...it’s high on my list of landing spots. Keep up the great work!
Thanks 🙏🏻
Well done, as always, my friend.
Thanks 🙏🏻
Incredibly helpful Steve, thanks. Another year or so saving for a decent emergency fund and I'm there.
Hey Steve thank you so much for the awesome video keep up the great work appreciate it
That’s a lot of money for a budget. But every situation has its on purpose. If you wanna go like that of budget, hey! that’s awesome. But if your like me, been in hardship while growing up, and was able to took that opportunity, if I downsize now in Philippines 1000 to 1200 is more enough for the both of us me and my husband. It is just a matter of necessity and needs.
Sarah, a budget for 2 young healthy people is different from a budget for senior citizens with family of 5 :)
please, I need that budget here in America too
I've worked for the last 10 years of my life just saving as much as I can,I plan to move to Philippines and use my yearly interest from my fixed deposit as my income while I'm there,my budget will be $7200 per month.I will be staying in Cebu though.
Much appreciated. Good simple easy to follow suggestions.
Thanks for posting about a higher budget I was worried I wouldn't fit in.
the monthly budget is not really the issue ,its chump change, most people overlook the initial massive expense of setting up everything you need for your new life, transportation,appliances,tv,fridge,furniture cookware utensils the list is endless , these are the things that really contribute to your quality of life
We did a video on this subject already
Im wondering what it costs to ship things there? Like say if i wanted to ship a car or furniture?
But you don’t need to buy them all at once. Most stuff you mentioned I bought over the course of a year.
Very useful information as always. Thanks!
This is very important information. Thank you.
That's the budget im planning on having when i retire.
It’s a great budget to have
Great Video! Glad to have found your channel.
Thanks 🙏🏻
I'm on a $1,100 a month budget now here in Japan, been here 13 months now. Wish me luck................... :/
That’s rough in Japan
Which city are you in.....in Japan ?
stay away from Tokyo:)
@@RichTravel1010 really rough, I'm from New York City, I have some good friends around the BU aria in Beantown Boston. Used to go there all the time during college few years ago man :)
How!?
Thank you for the information......very useful!
Out of my experience I 100% confirm your calculated budget. This should be the budget everybody should use for making decisions. If you base on lower budget, you could easily come into deep sh..
👍👍👍👍⭐⭐⭐⭐
If you base on this budget, finacially you are quite save
This is a great comfortable base budget.
I hate living there for good I think I would because I own house’s here and don’t want to sell them right now. I am keeping one no matter what.. That’s a little higher than I was thinking about but I have that coming in so I can do that and still have it safely net. I was thinking about 1500 usd but I can always take it up a little later on. I was thinking maybe 6 months there and 6 months stateside.
That is my SSAN , you are right on, i own my own condo . $2500 is perfect
I wonder if this number still applies today given post Covid inflation. Great Work Steve!
That kind of money is allot of money in the Philippines.....The average guy can get by under 1k a month ... But then again it all depends on fluctuating currency rates, so there is no exact variable. But a simple apartment and eating out modestly about $800-1K a month.. If you are well off and live in very nice means, then you also run the risk of attracting too much attention. So it is a fine line..comfort...vs ...peace of mind also. Cheers!
True.. it’s all about money management.
I'm thinking of pulling the trigger on early retirement more now!
Another good video. Watching the progression of your budget videos, the numbers increase. Seems to be because you’re learning more things that are important to have while there as opposed to your lifestyle increasing. It’s nice to learn from someone else’s experience.
The others are still fine but not as safe.
That's great bro. I've been searching for this type of budget.
another great video! thank you, stay safe.
Hey Steve is that $ 2500 budget is that covers medical insurance? Lita fr.Va. BEACH VA.
Yes in most cases
Wow, I wish I had that budget!
Excellent video Steve! Does the $250 Medical Insurance cover Diabetic Insulin and meds?
That’s preexisting so it might be more
Good advice.
US$2,500 a month is freaking HUGE, your living life of a Super King
We bought a very small home here about 11 years ago 800,000 Pesos. We furnished it inexpensive furniture. We only stay in it when we are in Philippines. It stays empty when we are back home. Wife's sis in law goes around occasionally to check it. Her boys keep it clean. Just pay annual tax on it. Sis in law takes care of utilities.
2500 x 48 = 120 000 man i already consider that as a lavish spending in a month!
$2500 a month that cash gets you long long way here!
48 = 4 years...Why four years?
@TEC Man 96 This Budget is what most retirees retire on. This is a more upscale budget for the average retiree compered with the lower budgets.
@@erictrippe2778 48 is the approximate peso-dollar exchange rate.
@@erictrippe2778 48 pesos to dollar. He was converting to pesos
@@erictrippe2778 I think it may have been more clearly stated as "$2500.00 x P48.00 (current exchange rate) = P120,000.00... I believe this is what was intended.
I thank you because you are smart guy, you know how to go around in the Philippines and most of all
Please help other foreigners the families of the woman they marry becomes their dependents, who are jobless and lazy. .I am a retiree too and l have experienced how hard it is to earned in America.
I keep hearing that it’s cheap to live in the Philippines but I’m from Scotland and I can live very nicely here on that kind of cash.
You can live here on $1500 too. I did a budget on that too.
@@RichTravel1010 yeah I watched that. Thank you for the information
I agree. Same in southern England. I live very well with my family on £1500 including £600+ mortgage, car and holidays. Mind you medical expenses are covered by the glorious NHS. So 2 more years of saving and then I’ll retire at 53 in warmer climes, living off investments. Can’t wait.
I was living in Palawan with 2000 doing great two people with motorcycle for transport,and have a litle banka for travel and fishing. Now i what to come back and build a big banka and live on whater, without pay the rent.
Thanks for the Info. Greetings from Canada.
My plan is to purchase a property and build a house 2 years before early retirement of 62 in the Philippines. Use SS income to live off and 401K savings as emergency fund and slowly use it for leisure. Return to US every 6 months for medical check-up.
Thanks
Steve,
I will be 66 soon and will be recieving in excess of $2500 a month between 2 pensions that will have cola adjustments. I have no medical issues other than a little arthritis and take no medications. Do you see any problems for an older guy like me, i really have been looking forward to moving there this spring after i sell my home.
You should be fine
Good stuff
For that budget you'll do fine in 99% of the countries. Maybe a few major city exceptions like Singapore or Zurich.
What about Tricare? Can you use it over there?
Where are you located? That makes a big difference.
Trece Martires City
Great information Steve thanks alot 👍 I have my fingers crossed and can't wait for the day I can put the hectic life behind me thanks buddy
What kind of bank do u prefer to use to store your money in the Philippines?
BDO
Think the sweet spot is about 200,000 a month in places like BGC and Makati.
The Sweet Spot Budget is good almost anywhere in Asia with a few exceptions.
when we rented a 2 bedroom house for $80 a month. Our living expenses I mean everything was $420 a month. Where I live San Juan Batangas it is cheap to live there. $800 a month will be fine.
God Bless
$700 Mactan 1 bed condo (loads of amenities)
$100 electric
$50 internet
$25 water (drink and household)
$300 food eat in/out
$100 Transportation $100 (trike, jeepney, bus)
$100 Misc (clothes, cleaning supplies, haircut )
$100 fun money ( museum/attractions)
$30 Visa
$30 Hygiene (toothpaste, soap, deodorant, pads, etc)
$50 cellphones
$250 health insurance
Total $1750
Good budget
Wow , i could not handle that, where is your monthly travel budget , which includes hotels and airfare , for your travel around that beautiful country.
Your budget adds up to $1,835 (USD).
In metro-Manila We pay the equivalent of $400 rental for a spacious jr 2-bedroom. I expect with POGO influx it’s going to be very competitive.
This was very helpful. I am now planning for early retirement in the Phillipines. I'm 48 now, and planning. My wife is frugal! She does not like to spend money. This would be a busget when I finally retire, but for now I am just building up to it
Be sure to watch my most important videos that will help you.
Yes 2500 is very good , you can do whatever you want in Phils , you have good life. A
Here in California i pay $30 internet for a 50MB its a 2 year price discount but regular price i think is $50 still cheaper and maybe even faster
Right...But you also pay like $2000 for an apartment.
Hi Steve...I would want to furnish my own 🏠 home. I have a question here in Michigan I have leather furniture and so I wanted to ask do they carry leather couch or lazy boy recliners there
in the Philippines?
I’m sure in Manila you can get any furniture you want.
There are LazyBoy stores at Shangri-la Plaza and SM Megamall in Mandaluyong/Ortigas.
I'll give you my observations. For some reason, leather doesn't seem to hold up very well here. My two year old leather belt has just about disintegrated. The same belt would last me 10 years in the U.S. My leather wallet is degrading also. A good leather wallet would last 15 years in the U.S.
Not to many have that much here in America
I DO ONE MEAL A DAY(OMAD FASTING) AND ITS GREAT FOR HEALTH AND MY WALLET
I might do this !!! Does it help blood pressure
Which Pacific cross plan would you recommend? Thanks for the info.
The Peso Plan but I might upgrade soon
Curious what health insurance provider you use. I don't see anything less than $350 a month online & that's for very bare bones coverage.
Should have listened further! Thanks for the video!
Pacific Cross
Can you recommend any medical insurance that foreigners can buy out here in the Philippines?
What do you think of rent to own houses ? buy these houses then rent them to expats at a reasonable rate. so that the rate doesn't increase .
We can only own condos
Thanks! Very insightful. Why do you want a life insurance?
To get buried.
Great information. Have you done a video on "start-up" budget? If you come with 2 or 3 suitcases only, what do you think it takes to get an unfurnished apartment/house and life started? Set up the house, start up the groceries, start up the phone, internet, gas, water, electric. Are there deposits for utilities?
I have videos on this answering these questions
Thanks for doing this one Steve. I see a lot of people putting out videos saying one can live like a king for $800 to $1000 a month.
I averaged $1750 per months living expenses from Dec 2019 to Dec 2020. I don't want for anything, but I don't go crazy either.
Food is one area that I could reduce my spending. I eat mostly imported western food. If I could eat like a Filipino, I'd save $500 per month.
The famous John Wales from Sunshine Shoulders!!!! John, please start a youtube channel....seriously.
I rented a nice condo in Cebu and my combined budget was 40,000P tp 50,000P a month.
Nice video, very informative! New subscriber!
Good start I've been here 13yrs need to have some money for wife's family either older parents or siblings still in school. Approximately 10k pesos per month but still get buy on 100k a month no worries
Less is ok too.... But be safe please
@@RichTravel1010 you as well I'm in nueva ecija only leave home once a month can't wait for this to be over
Forex and inflation are big issues when one retires on fixed income .
Im the only one that covers it among vloggers here.
@@RichTravel1010 Yes, you are indeed, most vloggers are young, they are not aware of those things, plus many are digital nomad expats but not retirees
For me it's going to depend on my emergency fund, funds saved that I can dip into as & when required out of the usual day to day stuff.
My monthly calculations in how I want to live = $1200 & that's being comfortable & living a pleasant life...a rented scooter/gas, some travelling etc. Single guy.
Not interested in materials other than essentials, not interested in expensive meals out, not interested in wasting money needlessly when theres alternatives.
$1200 is fine but beware of Forex changes that can wipe that out.
The way that they are printing money in the US that is sage advice
Can you do a episode on that crazy hat you wear
I order them on Lazada !!! Lol
Maybe !!! Lol
You were talking about a maid. Do to a back injury I suffered a long time ago, I would love to have a professional maid, like a nurse or a massage therapist. What do you think it would cost me to have someone like this full time ? Please make sure, if you are able to answer my question and be kind enough to find the time, please make it a good pay. I would rather try to pay a little more and make someone happy to do their job. Thanks in advance.
It’s about $500 a month for a Nurse
@@RichTravel1010
Thank you.
I was asking because, I know I wouldn’t be able to afford any type of full time support or help from anybody, and certainly not from a professional nurse or massage therapist, and I am therefore seriously thinking of moving to the Philippines. Obviously it is not the only reason, as I would love to travel around in Southeast Asia. And why not having someone around you that could make things easier on me and my health. Again, thank you for your time to answer my question. Maybe I get a chance in the near future to thank you in person. All the best to you, your channel and your family.
As always a fantastic video and somewhat of a realistic approach, unfortunately my army combined pension is going to give me at 55 years old €1790 a month, however I will also get a hefty one off tax free lump sum so plenty of emergency and just incase funds so somewhere close to your comfortable $2500 a month figure, The plan is a few months around Angeles / Clark area then down to Subic but nothing is firmed up and I will see where fate leads me to!
You should spend a year or two island hopping checking out different areas
The setup costs and rental deposits are a big cost. Once you are set up you can live well in a nice subdivision going to eat or movies for around a 1000usd a month.
You can try to reduce it even more.
Just curious on where you purchase the pacific blue cross? Do they sell a decent policy there? And through a bank if it’s in the Philippines?
It’s Pacific Cross and we have several videos on this and it explains almost all the info you need.
@@RichTravel1010 Can you qualify for Pacific Cross if you are over 75 ?
Great video lots of things to think about Can you send me a link or the information on the health insurance you were talking about i am planing to set up myhome there once the COVID thing is over and one of the first things I want to take care of is my health ins. Last time i looking into it they wanted an arm and a leg I am 67 and i am sure thats why they wanted so much your plan sounds a lot better
THANK YOU KEEP UP THE VIDS THERE GREAT
Steven5975@yahoo.com
If I do my math right for $2,000-2.5k a month you would need about 1/2 a million usd in dividend stocks.
Avg SS retirement in US is $1500, spouse gets another $1500.
Depends on what kind of life you want to live. Outside the big city I can live okay on 500 a month, however normally I live between 600-650 a month. My internet is less than 40 bucks a month. Electric is between 80 and 120 depending on the weather and yes I use AC all the time. At best I use 200 a month on food. Granted I don't eat out much, But I have gotten food poisoning eating out, so it is something I don't do much. I basically live an American lifestyle quiet. I even just bought a new 2022 Honda City sedan. Only use Philhealth. I have a one bedroom apartment for 120 a month and I live off of 1,000 a month. Now I live in Mindanao in a town with a mall, a bunch of gas stations. it's not the boonies but it's not the big city either. but I have been married to my wife for 17 years. It is so easy to spend money here you can become broke without even a thought. New guys always spend to much money on there life here, no matter what you tell them. This isn't the western world. Money is hard to come by here treat it with respect. I'm telling you now don't buy or build homes, it's not worth it in the long run.
At $2,500 you are a "Big Boss" and living the dream.
A king 👑 😌
Great video. Hope to retire there in a few years. Hope to visit there once the kung flu is gone.
Are you seeing the cost of food increase?
Yes, Meats are going up.
Veggies way up
Cost is going up throughout the world due to the pandemic and associated issues such as the supply chain, etc..
$2500? Live like a king. I wish!
Hello, I have a quick question that I can hope you can help me out with. My plan is to retire again and movie to PI and should have a monthly income of at least 7500 dollars a month and I have a fiancée who lives in Baguio city. I’ve been told that I can only have roughly 10,000 dollars in the bank there. If I’m getting 7500 dollars a month and plan a budget of say 4000, what’s the best way to keep your money in you PI account maxed and should I just keep the rest of the money an an a American account. I have Navy Federal too if that helps out at all.thank you.
Keep it in an American account and have an ATM for Hospital Emergencies.
You can have more than US$10,000 in a Philippine Bank but anything over that amount will not be insured if the Bank goes belly up. So locals with more than US$10,000 in savings will spread their deposits over several banks.
I think it's the same in the US where the Gov't will insure a maximum amount of deposits per account. Last I looked I think it was US$100,000
@@robocop581 $250,000 insured in America
Headed over there in a few months. Do you feel that Filipino landlords will raise your rent after one year? My fear is if I paint or fix up the place with my funds then they turn around and say “ok now you pay more each month or move out.” My wife also said that’s why she doesn’t want to fix it up but I can’t live in a dump either.
Some might but I’m very lucky because my landlord is decent.
My wife is from a small brgy in Bohol. We rented a small 2 bedroom home where her family lives. It has AC only in the master bedroom. The rest of the house doesn't even have windows, just bars over the opening, which actually lets lots of air thru... Lots of trees on the lot. How much? 1500 per month... that's Pesos, about $30. We discussed this with the owner and agreed, any improvements we make, the cost gets deducted from the rent, also agreed then on a purchase price if we decided to buy it later. If you're a decent person and treat people with respect, generally the respect will be returned.
is it including savings ? or is it like spending all 2500 USD or saving a part of it ?
Including savings
Question, when you deposit money in the bank in the Philippines is it held in the account as dollars or Pesos? If it is in pesos
that would provide you protection from the Forex if the dollar continues to decline. Of course it would hurt you if the dollar increased.
You can have either pesos or dollars here
It’s our golden years. Let’s live best we can. But to live in the boonies, with roosters, dogs barking all day, no showers, no running toilets and not so great Filipino food, it’s just too hard for me. Plus what the hell to do in the boonies? Like your budget and agree that everyone has their own likes, but I can’t limit myself to anything below 2.5k. Hopefully my son doesn’t mess up our business . Lol
Good stuff here