I just forwarded this video to my wife. Its amazing while listening to you i can just change your experiences while preparing for the move with ours. We had about the same timeframe for saving, I'm retiring when I'm July 2024, I turn 55 in March. Philippine savings acct not to be withdrawn from, starting to get rid of stuff now. Already shipped a bunch of boxes over to the family house. Going to watch your video now about transferring money as I'm still not sure the way to go. We currently have a PNB acct in the Philippines but still considering our options regarding other banks or transferring money. Great video.
Hi Greg. Great video. My wife and I are coming for a visit in January to scope it out, and Dauin is at the top of the list as a retirement destination. We are planning to buy some land and build our own home like you guys did. We don't have as much time as you and Wilma have put in for prepping, but we were wondering if it would be possible to sit down with you guys for an hour or so while we are there to get your advice on a few things.
I am debt free and have not had a credit card of any kind since 2015. My retirement date is currently set at 03 Feb 2025, which is right at 13 months from now at which time I will have just turned 57 years old. I have maintained a financial spreadsheet for several years which has greatly contributed to my Philippines retirement readiness. Similarly, I plan to use some of that savings to purchase a Condo in Cebu, a new truck, a new motorbike as well as my furniture, etc. At the time of retirement in Feb 2025, I will receive a 36-year unreduced Federal Employees' monthly pension. In addition to that because I will work until reaching my minimum retirement age of 57, I will also be entitled to a social security annuitant which is roughly half of what my social security would be at age 62. And I am currently receiving a 30% VA monthly compensation payment. It has not been easy by any means, but it is worth planning out what you want your individual retirement to look like. And doing whatever it takes to stay the course. I started planning back in 2007.
Preparation for retirement is a very sensitive process cz it involves all the family members and even more people. Your videos give us a very good reference for many many things and helped us to think about other ways to manage some issues we have in our based country. We try to smooth as much as possible the final transition step to the philippines but of course the D-day we ll have (like you did I suppose) to make the big jump. Thank you very much for all the passion and time you put through these videos and we wish you a very Happy New Year and hoping you will continue to post on YT as you did until now. All the best for your family and all the people you love for 2024... and beyond!
Happy New Year Wilma, Greg and Prince. Thanks for the Video and information you have provided. Feel much better after watching your video as we have at least a couple years left before we retire permanently, and the reason we feel better is that we are doing a lot of planning(the wife and I). Wasnt till last year that thought of retiring in the Philippines, always thought " no don't want to retire there" but recently changed my mind and am seriously considering it now. The filipina wife is now interested in getting dual citizenship as she will be able to collect Social Security at age 62 because she recently met her 10 year mark of working in the US to be able to collect Social Security, which you cant collect outside of the US if you are not a citizen. So yes lots of planning, am glad to see you have had success with your house building and retirement in the Philippines. Like both Wilma and your videos because you both speak very well. Your very good at stating the facts, and careful not give conjecture or opinions on matters you are not familiar with. Kepp up the good work, look forward to seeing more of your Videos....Jim
Thank you Greg & Wilma! We're about 5 years out ourselves and really appreciate you sharing how you prepared. How long after your house sold did you quit your jobs and move to the Philippines? Maybe coming in your next video?
Hello Wilma and Greg. I just found your blog. I enjoyed it because you both are planners and down to earth people. Care about the less fortunate in the Philippines. Question, where are you originally from Wilma? I am from Maasin So. Leyte. I live now in Albuquerque,NM for 29 years. You just look familiar. I'm glad you both are enjoying retirement. I am 59 and plan to retire by 62. Thank you for all the info esp. for those who want to retire in the Philippines.
Congratulations on your home and being featured on Business Insider. I’m in a similar situation as you folks but still looking for a place to settle at. Ps. I recently had to utilize Siliman University’s Medical Center and I was quite impressed and satisfied with their urgent care services. I’m in Dumaguete as I write this comment.
Appreciate the video, my wife and I are looking at building house in the Philippines in the next 9 years. We are done with the debt free journey.... We purchased land on Guimaras Island last August, working with friends retired already to hire and get a fence around it. Do you have any suggestions for hiring a contractor? We want a concrete home with a solar setup as well. It's going to be a major undertaking as it has centennial mangos and tons of mahogany trees on the property, but an incredible place and hopefully a ocean view after clearing some trees. We have been following your channel for a while and want to wish you both a Happy New Year. Thank you for your content.
Happy New Year to you guys. Finding a contractor is a local endeavor. I suggest asking architects in that immediate area. Possibly a real estate agent and attorney. Usually a small community and they know the good ones as well as the bad ones. Good luck to you guys.
Thank you both of the helpful videos. If you are comfortable in saying so, are you getting by on just your savings or are you also getting by on some form of work-based pension-a defined or semi-defined pension or a “regular” 401K? Thank you.
@@buildingthephilippines Thank you for the reply. Without some form of pension, planning becomes even more important-good for the both of you. I just finished watching your newest departure video. Very interesting! It is a big leap to retire and an even bigger leap to retire to another country. On a different note, I have heard some of the people in your interviews note how their spouses were duel citizens. My wife is a naturalized US citizen who was born in the PI. Apparently there is a process that one must go through to get one’s PI citizenship reinstated and be a duel citizen. Did Wilma go through this process or stick to the “Balakbyan” status and just US citizenship? My wife’s aunt has the same issue and she opted for the PI version of “legal permanent resident” for fear of impacting her SS death benefits (she is the widow of a U.S. citizen) by getting duel citizenship. Maybe over cautious, but who knows what policy changes the government might make in the future. This might make for an interesting video topic! Have a great day!
@Oskar_808 yes, definitely need to have a retirement income. We both do as Wilma worked 28 years in the US. Wilma is a duel citizen and it does not affect her SS in the US or opting for mine when I die. She met the 10 year married while being in the US as a citizen. Big jump for sure, very glad we did it.
@@buildingthephilippines Your happiness for your choice shines brightly in your videos. I appreciate the many “nuggets” of information that you and Wilma share from both your own experiences and the experiences of others. For instance, your interview with that fellow who shipped his dog. Very helpful. Your recent video on buying property. Also very helpful. It all reminds me of what Rumsfeld said decades ago: “Things we do not know we don’t know.” The more you listen, the more that you “know . . . [you] know.” Have a great day!
Enjoyed this video and learned about transferring money from USA to the Philippines. Good to know just in case I’ll be doing such thing or even help others with this video . Thank you very much I appreciate this information. Btw what did you do for a living in the USA?
Chase limits to $25K daily at $44 per transaction daily (without executive account). The banks also tweak the exchange rate a bit. BOI more than BDO it seems.
We just wire transferred another sum of money in November. We were only charged $5 by our US bank and $5 by the Philippines bank. We use both apps to make the transfer. We transfer as, personal reasons. As that's an option. Might have something to do with executing the transfer yourself and transferring under personal reasons. Worth looking into.
If you transfer money from US by BofA , and you make your transfer in Philippino pesos there is zero bank charge . I just have a savings account with BofA for just this reason . Wells Fargo is charging $45 no matter if you are transferring in dollars or pesos !
We bote 1200 sq meters in mindanao near Dapitan city ive stayed there on 3 vistits last one was for 4 months we had our. Baby boy in dipolog city married there lol
Hi there! What a great channel ya’ll have. I am planning retirement :) as well - however I am looking at logistics. I was wondering if you are able to share the shipping container company that Greg (he was in one of your interviews) used? He seems to have luck with that company? Are you able share that information? Thank you!!!
What US bank with affiliates in Philippines you need the Philippine bank swift code please let me know thanks for the perfect topics I’m planning to retire soon
Fantastic video! This is very helpful, thank you both. Just watch it on the big screen instead. I look forward to retirement. Might have to ask some questions, do you guys have an email or fb messenger ? Thanks again!
I am 1st again!! Back in the groove. (Happened to be on RUclips). The Philippine journey series has been awesome so far.
Thanks Ray, appreciate it. Happy New Year.
Advance Happy New Year Wilma and Greg and of course to Handsome Prince🥳🎇🍾💝
Happy New Year to you.
I just forwarded this video to my wife. Its amazing while listening to you i can just change your experiences while preparing for the move with ours. We had about the same timeframe for saving, I'm retiring when I'm July 2024, I turn 55 in March. Philippine savings acct not to be withdrawn from, starting to get rid of stuff now. Already shipped a bunch of boxes over to the family house. Going to watch your video now about transferring money as I'm still not sure the way to go. We currently have a PNB acct in the Philippines but still considering our options regarding other banks or transferring money. Great video.
Thanks for commenting. We wish you guys much luck in your future retirement to the Philippines.
Hi Greg. Great video. My wife and I are coming for a visit in January to scope it out, and Dauin is at the top of the list as a retirement destination. We are planning to buy some land and build our own home like you guys did. We don't have as much time as you and Wilma have put in for prepping, but we were wondering if it would be possible to sit down with you guys for an hour or so while we are there to get your advice on a few things.
@@Boston_Steve once in the area, look us up. We will get something scheduled.
I am debt free and have not had a credit card of any kind since 2015. My retirement date is currently set at 03 Feb 2025, which is right at 13 months from now at which time I will have just turned 57 years old. I have maintained a financial spreadsheet for several years which has greatly contributed to my Philippines retirement readiness. Similarly, I plan to use some of that savings to purchase a Condo in Cebu, a new truck, a new motorbike as well as my furniture, etc.
At the time of retirement in Feb 2025, I will receive a 36-year unreduced Federal Employees' monthly pension. In addition to that because I will work until reaching my minimum retirement age of 57, I will also be entitled to a social security annuitant which is roughly half of what my social security would be at age 62. And I am currently receiving a 30% VA monthly compensation payment. It has not been easy by any means, but it is worth planning out what you want your individual retirement to look like. And doing whatever it takes to stay the course. I started planning back in 2007.
That's so awesome. You have it nailed for sure. The ones who plan are usually the successful ones. Congrats on your future early retirement.
Preparation for retirement is a very sensitive process cz it involves all the family members and even more people. Your videos give us a very good reference for many many things and helped us to think about other ways to manage some issues we have in our based country. We try to smooth as much as possible the final transition step to the philippines but of course the D-day we ll have (like you did I suppose) to make the big jump. Thank you very much for all the passion and time you put through these videos and we wish you a very Happy New Year and hoping you will continue to post on YT as you did until now. All the best for your family and all the people you love for 2024... and beyond!
Thanks for the great comment. Good luck to you and your family. Happy new year.
Happy New Year Wilma, Greg and Prince. Thanks for the Video and information you have provided. Feel much better after watching your video as we have at least a couple years left before we retire permanently, and the reason we feel better is that we are doing a lot of planning(the wife and I).
Wasnt till last year that thought of retiring in the Philippines, always thought " no don't want to retire there" but recently changed my mind and am seriously considering it now. The filipina wife is now interested in getting dual citizenship as she will be able to collect Social Security at age 62 because she recently met her 10 year mark of working in the US to be able to collect Social Security, which you cant collect outside of the US if you are not a citizen.
So yes lots of planning, am glad to see you have had success with your house building and retirement in the Philippines.
Like both Wilma and your videos because you both speak very well. Your very good at stating the facts, and careful not give conjecture or opinions on matters you are not familiar with.
Kepp up the good work, look forward to seeing more of your Videos....Jim
Thanks Jim for commenting, good luck with your retirement. It's definitely doable as long as you stay very much involved.
Thank you Greg & Wilma! We're about 5 years out ourselves and really appreciate you sharing how you prepared. How long after your house sold did you quit your jobs and move to the Philippines? Maybe coming in your next video?
Sold home 12 months before moving. Earlier then we wanted but due to pandemic the market was hot. Thanks for watching.
Very informative, thank you, especially the transferring of funds from the US to Manila.
Your welcome.
Hello Wilma and Greg. I just found your blog. I enjoyed it because you both are planners and down to earth people. Care about the less fortunate in the Philippines. Question, where are you originally from Wilma? I am from Maasin So. Leyte. I live now in Albuquerque,NM for 29 years. You just look familiar. I'm glad you both are enjoying retirement. I am 59 and plan to retire by 62. Thank you for all the info esp. for those who want to retire in the Philippines.
@@eunicefesseha7713 Hello, thanks for reaching out. Wilma is from Palompon, Leyte. Congrats on your future retirement.
Great informative video. 👍🏻👍🏻
Thank you, appreciate you watching.
Great video and subject! So did you and Wilma send any Balikbayan boxes and if so, how many and how long did it take to arrive?
We shipped 35 balikbayan boxes. Took 90 days from NY to Leyte. Less time to Manila or Cebu.
Congratulations on your home and being featured on Business Insider. I’m in a similar situation as you folks but still looking for a place to settle at.
Ps. I recently had to utilize Siliman University’s Medical Center and I was quite impressed and satisfied with their urgent care services. I’m in Dumaguete as I write this comment.
Hi James, thanks for the comment. Glad to hear your experience with a local hospital was a positive one.
Appreciate the video, my wife and I are looking at building house in the Philippines in the next 9 years. We are done with the debt free journey.... We purchased land on Guimaras Island last August, working with friends retired already to hire and get a fence around it. Do you have any suggestions for hiring a contractor? We want a concrete home with a solar setup as well. It's going to be a major undertaking as it has centennial mangos and tons of mahogany trees on the property, but an incredible place and hopefully a ocean view after clearing some trees.
We have been following your channel for a while and want to wish you both a Happy New Year. Thank you for your content.
Happy New Year to you guys. Finding a contractor is a local endeavor. I suggest asking architects in that immediate area. Possibly a real estate agent and attorney. Usually a small community and they know the good ones as well as the bad ones. Good luck to you guys.
Happy New Year's To You Both
Happy New Year !!!
Thank you both of the helpful videos. If you are comfortable in saying so, are you getting by on just your savings or are you also getting by on some form of work-based pension-a defined or semi-defined pension or a “regular” 401K? Thank you.
All savings for us, until our retirements kick in. We had a 10 year plan and a goal to reach monetarily before we retired here.
@@buildingthephilippines Thank you for the reply. Without some form of pension, planning becomes even more important-good for the both of you. I just finished watching your newest departure video. Very interesting! It is a big leap to retire and an even bigger leap to retire to another country. On a different note, I have heard some of the people in your interviews note how their spouses were duel citizens. My wife is a naturalized US citizen who was born in the PI. Apparently there is a process that one must go through to get one’s PI citizenship reinstated and be a duel citizen. Did Wilma go through this process or stick to the “Balakbyan” status and just US citizenship? My wife’s aunt has the same issue and she opted for the PI version of “legal permanent resident” for fear of impacting her SS death benefits (she is the widow of a U.S. citizen) by getting duel citizenship. Maybe over cautious, but who knows what policy changes the government might make in the future. This might make for an interesting video topic! Have a great day!
@Oskar_808 yes, definitely need to have a retirement income. We both do as Wilma worked 28 years in the US. Wilma is a duel citizen and it does not affect her SS in the US or opting for mine when I die. She met the 10 year married while being in the US as a citizen. Big jump for sure, very glad we did it.
@@buildingthephilippines Your happiness for your choice shines brightly in your videos. I appreciate the many “nuggets” of information that you and Wilma share from both your own experiences and the experiences of others. For instance, your interview with that fellow who shipped his dog. Very helpful. Your recent video on buying property. Also very helpful. It all reminds me of what Rumsfeld said decades ago: “Things we do not know we don’t know.” The more you listen, the more that you “know . . . [you] know.” Have a great day!
@@Oskar_808 well said, appreciate the banter back and forth.
Enjoyed this video and learned about transferring money from USA to the Philippines. Good to know just in case I’ll be doing such thing or even help others with this video . Thank you very much I appreciate this information. Btw what did you do for a living in the USA?
Glad you liked it. I ran supply chain management for a pharmaceutical company in the Northeast of the US.
Chase limits to $25K daily at $44 per transaction daily (without executive account). The banks also tweak the exchange rate a bit. BOI more than BDO it seems.
We just wire transferred another sum of money in November. We were only charged $5 by our US bank and $5 by the Philippines bank. We use both apps to make the transfer. We transfer as, personal reasons. As that's an option. Might have something to do with executing the transfer yourself and transferring under personal reasons. Worth looking into.
If you transfer money from US by BofA , and you make your transfer in Philippino pesos there is zero bank charge . I just have a savings account with BofA for just this reason . Wells Fargo is charging $45 no matter if you are transferring in dollars or pesos !
Do you get the going rate dollar to peso that day or do they skim a few pesos off?
the issue was the banks buy / sell vs true exchange rate. Trying to finish the lot purchase and it didn’t balance because of the receiving bank
Bank always makes out in the end. Property paid off, check another box.
We bote 1200 sq meters in mindanao near Dapitan city ive stayed there on 3 vistits last one was for 4 months we had our. Baby boy in dipolog city married there lol
As the crow flys your land is quite close to us. Probably only 50 kilometers or so across the ocean.
Hi there! What a great channel ya’ll have.
I am planning retirement :) as well - however I am looking at logistics. I was wondering if you are able to share the shipping container company that Greg (he was in one of your interviews) used? He seems to have luck with that company? Are you able share that information?
Thank you!!!
We used UMAC to ship to the Philippines.
@@buildingthephilippines thank you! I will check it out.
Hello! Subscriber here! Did sell your US home to help with the PH new home or rent it out for extra monthly income?
We sold our home in the US.
can i ask which bank in the US is affiliated to the one in Philippines? and which in the Philippines? thank you so much. very informative video😊
Literally, all major US banks are affiliated with all major Philippine banks. Go to your current bank and ask them.
You may have said it but do you maintain an address in the US?
Yes we do. I can get mail and have an address for tax purposes.
What US bank with affiliates in Philippines you need the Philippine bank swift code please let me know thanks for the perfect topics I’m planning to retire soon
All the major banks in the USA are affiliated with all the major banks here. That won't be an issue for you.
Were in canada working on building a house there and having our third baby soon lol im retiring in the n😂xt 2 to 3 years
Congrats on your new baby and your upcoming retirement. The years will start to go by very fast. Thanks for watching.
Sorry 😁 just saw that part of the video
No problem
Fantastic video! This is very helpful, thank you both. Just watch it on the big screen instead. I look forward to retirement. Might have to ask some questions, do you guys have an email or fb messenger ?
Thanks again!
Buildingthephilippines@gmail.com