I agree with you a hundred per cent. I am a retired merchant marine ( Fil-Am ) and we build our own house 3 bedroom, drive a ford Ranger and 2 tricycles and our monthly pension is a little over 2500 k $. And if we have to live in America with this income we would be one of the poorest among the poor. No regrets retiring soon here in the Philippines.
The only way it can be done in Massachusetts (where I am originally from) is if you live with your parents or rent a room in someone's house. Otherwise you need section 8 and food stamps etc. I could never go back there to live unless I had no other choice. I'm not standing in any assistance lines to just survive. I get 3,000 usd per month and own my own land and house and most months put money in my savings. Also I'm far away from crazy liberal policies that are destroying the working people from inflation and taxes.
Hi Steven, I am one of those people who look at income and budget as 2 different things. The money that I will be putting aside for emergencies is not part of my budget. I believe that a 1250 to 1500 budget as a single person should be doable.
Great Video Steve. I’m 63 retired UPS man I live in Connecticut. I basically workout take a nap smoke weed and watch RUclips the weed is to deaden my pain from working 30 years 😉
Great Content as usual Steve . I really enjoy how you break it down. I wish you much success . You have a prosperous and abundance mindset that's key to successful living. Have a prosperous night
Spot on. I am here retired with $2k a month. It goes quicker than you think. I'm in the Manila area and it's possible to live here with that, but I live like a Filipino. There are a lot of unexpected costs.
Hi Steve, you mentioned that you don't eat Filipino food and I have to say that when I came in March I ate at a restaurant and got sick and threw up. I can't say why I did, but I did. Obviously, I can buy foods there that my system would tolerate and would make my stay a lot more pleasant. Probably the key to all this is to go to a local supermarket and buy foods that I know I could handle and cook at home. I like to BBQ and would be doing that all the time there. I know the grocery stores don't have the selection like in the U.S. Do you have a water filter or treatment system at your home so that you could drink the tap water? Thanks!
Thanks for the update. Still sounds good to me. In my area spending 300 a week on groceries and 2,500 a month on rent is normal. Guys need to go there and see what they are getting. Don't make decisions about your retirement until you've lived it. My friend is getting ready to retire. He's doing it right. Living for 3 months in a place to check it out. His original location and country changed after this process.
Greetings Steve, I move 140k ($2800) from US to the PH monthly, spend about 90K ($1800). works for us nicely, includes online stuff for the house and hobbies, w/o health Ins. transportation is minimal cause we own scooters (yikes)
Hey Steve, I've had problems with my lower back and hip flexor. If I ride a stationary bike for 15 minutes a day, the pain is completely gone. You should take a look at trying that. I also go to the gym now 3 times a week and it's enough for me to not have any pain. TRY IT!!!
With 25 yrs, in / out of Philippines, My Strong Advice, Before Making the move and Retiring there (all at once esp if you've never been there or its been a long time since) Is: "Book a Trip" and Try it out, 1st (or whatever country you plan to live in), for at least month or two (ideally several mos+).. Esp, Before Retiring there.. First, you'll need to get over the culture shock (even if its just been a long while but esp if 1st time), and you should travel around and See, 1st hand, if and what place suits you best ..That's just Common Sense advice in my humble opinion and experience ..
hi steve. been watching for quite a while. you give a lot of good and prictical info. i was there last july for a month. my gf is 48 and widow. she has a decent home. allthough i need to do a few upgrades. so no rent. about 4 hrs north of manila. when i was there i bought a car. ford fiesta. great shape. 4200 usd. aboout the same as here. most of her family have nice homes. middle class . im 58. i am going to spend half a year here and half there untill 62. i allready have 3k in pentions and at 62 get ss. plus substantial savings. from your channel and others i think i can live just fine. keep up the good work. maybe when i am there i could drive down there and meet you and the guys.
I live 12 miles outside of Washington DC. My unfinished apartment is 1000 square feet, 2 bed/2 bath I pay $2350/month And rent never goes down or stays the same. Electricity can vary (no gas here, all electric incl heat and a/c Lowest $40 Highest $100. I don't know if I can live here when I retire.
I'm 65, single in a mid size town on Bohol. Not in a tourist area. I love motorcycles so I have a Honda ADV. Per month I spend $350 for a nice 2 bedroom. $300 for bills, $300 for food, $300 for fantastic health insurance, $300 for junk, $300 for even more misc. junk. I'm only up to $1,850 even with $600 in the junk category. My social security is $2300/mo. I have $80k in the bank for emergencies, or to just earn interest. I'm fine. Where you can run into a money pit is adopting a GF/Wife and her family. I do buy fresh food at the public market and cook it myself for most meals. Eating pre-made trash food is expensive. My GF does have a job, but I give her an allowance of $150 to boost her income by 7500 per month. It keeps her happy. Any family support is on her, not me.
Live in South Central Florida US. Rent a lot for $500/month with a 1 bdrm camper trailer with an additional Florida room. Ina nice retirement community with a lot of activities & amenities. Have apaid off late model Jeep & a new Harley Davidson. Making it fine & happy here in US with $2700/month with medicare. Have a nice church to attend. Would like to visit Philippines but thinking it wise to keep what i have.
That was a good presentation Steve. Different guys are different in terms of lifestyle and what they like to spend money (or save money) on. The numbers you were kicking around also were relative to a 1st class city urban setting with those associated costs, i.e. Grab taxi's, McDonalds, Texas Road house, rental rates, and the cost of being stuck in traffic. I agree with your philosophy on tipping. After being here for a number of years I know how much things cost and if a local quotes me a fair price a lot of times I will thank them for telling me a fair price and clearly indicate that I am tipping because they were honest. The kicker on the comparison to being retired in the Philippines vs. USA is your comments about getting out and doing things. Much nicer setup here in the Philippines for being able to do things as a retiree. That was my motivating factor for making the leap over here. I am in a 5th class city 35 kms from a 1st class city with access to a condo in the 1st class city. I also own a car and a motorcycle. I live very comfortably at around $1200/month and my kicker is no girlfriend or children to support. Big difference. If you get in and out of the Makati area and you haven't discovered it yet, be sure to hit the Filling Station Bar and Cafe.
Great Video Steve, I like your philosophy about tipping…..especially for excellent service. Also about living, it’s a hard transition from going to saving all our lives to spending however it’s time live each day and do the things we love
I guess I'm a little different then most my wife and I own our home in America and 3 homes in the Philippines. So weather we are living in the states part of the year or in the Philippines part of the year our upper middle class lifestyle is the same. So to be honest we spend about the same each month in both countries give or take a few hundred dollars depending on the month and what holidays, birthdays, anniversaries and vacations are coming up. Good video Steve.
I'm in the 4k+ budget but I try and save 1 or 2K a month here. I live very good but I was also well off in the States. I just prefer SEA over anywhere else in the world.
Hi Steve, you are absolutely right. The way I see it, moving to the PHL is best for people with 15K to 50K per year. These guys will see a big improvement in their life .
Love your vlog Steve. A couple of thoughts first, I work two weeks, and have 2 off, (2000 mile difference from work, to home, and work is very remote) and when im home, i truly am a home body. I surf the internet and plan a lot..so i think i'll likely be very content gardening surfing internet, and other non costly things. When i retire, at 62 in 18 months (hope to live somewhere in Tanza area with GF and her nanay) I will want a day at the beach, or go see Tagaytay, etc. Definitely McDo, and Jollibee. Not into malls at all, not into crowds, but really just not travel by plane anymore. Any way, I agree with you and your costs, and have been researching it for about 5 years. Im thinking an Ebike for local, and rent a car and driver for long trips. Not a vet, so i will likely as you point out need good insurance, and that will be a large cost (altho not like the states) My Question: should i keep like 50K in a bank in the PH? If i need it its already there, and easy access. Other than that, ill keep the rest in the US in IRA and bank account. THX
so lets say you got about 2300 a month(Tax free/after taxes) is that enough for the phillipines? I mean only way you could do that stateside would be to pay off the land but you still are going to have alot of expensive taxation on everything.
Love the comparison Steve. Really good stuff. I'm from Birmingham, Alabama and even Birmingham now down in the city you are gonna pay $1,200 - $2,300 for an apartment. It's crazy! Also everything else that you mention is more expensive. That's why you see so many move to Philippines, Thailand, Ecuador ..etc You simply can live a better retired life and really enjoy yourself. I've got a while to go. Around 10 years or so? That will put me at 55-56 to retire. Anyways, have a good one man.
Great video as always Thank u 4 the tru costs. Living just north of nyc in da burbs Oil prices went crazy . Evertthing is thru the roof right now,, Aprreciate ur vlog Thanks again
Another good video I'm getting 2700 a month supposed to get a raise next year 3% cost of living in a raise on our social security hopefully be around 3000 or closed anyway
Can’t wait to move there brother! Looking like Bataan area will be our choice. It’s near Manila and from what research I have done my insurance (tricare) is accepted by many hospitals. I will been seeking your assistance for helping find a rental house ( $500.- $800) range more or less.. something just outside city. Enjoy your videos keep’em coming!! Berry
Good breakdown on what to expect. Looking at a budget for owning a home, paid off car and other debts, and it still can be difficult to 'get by' on a 2-3k/month budget in suburbs, and greatly down-sized city life. Just the normal monthly living expenses, with nothing but staying home and 'making do' can easily eat up 2k/month unless really cutting back.
Hi Steve! I will be arriving in Manila, Philippines on the 30th of August next month. I do have relatives in the Philippines but I don’t want to stay with them. I would like to be by myself. I’m thinking about looking for a place to stay maybe in Trece Martires, Tagaytay or Taguig Rizal in Manila. Don’t know yet I’ll wait till I get there and check these places. For now I am a tourist but I may stay longer-it depends. Thank you for all the information that you’re giving us and I hope you have a wonderful day ahead of you 😄.
So right. I live in Silang it's also one of the cheaper areas to live. I would tell anyone you need at least $2000 a month to live comfortably. But $3000 to enjoy living here.
I live in a gated high-rise building near Alabang with beautiful gardens and pools. I have priced something similar in places like Florida and California and it would cost a minimum of ten times as much. I know people in NYC who pay more for a parking space. That affords us much more freedom to eat whatever and wherever we are, have a housekeeper and buy more expensive, but not extravagant clothes and things.
When I come for my first trip I am probably going to stay at AirBNBs because I am going to go to a few different islands and won't stay in one place for long. The AirBNBs look about $30 a night.
Living anywhere around greater Manila will easily require 3000 USD pee month. Living in other popular expat areas may be less. We are buying a 1 bedroom, 1 bath condo in Cainta Rizal, so monthly mortgage alone is 45,000 php. Other big expenses include laundry, drinking water, and health and life insurance. Location and lifestyle seem to define things.
I really appreciate your budget videos that have details and examples from your life. This is such a major part of a decision that is already huge for us. I also like that you talk about lifting up the people there but treating them with dignity. I just posted my first couple of videos and my plan is to vlog about our process of getting to the Philippines over the next few years. I linked one of your previous videos and hope you'll give me permission to link more, if/when they relate to what I post? My hope is that as people watch my videos I can direct them to the expat community on RUclips so they can learn more.
I have learned that since I haven't actually rented in 30 years I misunderstood these budgets. So if you purchase a place a budget of 2k to 3k will cover most needs. That being said I would rather purchase in a gated community or a new build and relax! I don't like tight spaces it would I assume be better than Condo or apt living since it was before my first marriage since I lived like that!
I tell my students to "pay your future " That means save money and don't touch it until you are retired. Only a few follow that lesson. My retirement budgets also have a payment to my future self, just to make sure no surprise happens.
Thank you, Steve. I always watch your vlogs, and I asked my American Bf to follow your vlogs, too, so it's helpful for him to understand more about living in the Philippines for expat.i got a house in San Pablo Laguna and planing with my bf to move there and retire soon. Thank you very much it's very informative 👍
good presentation - one 'small' thing to keep in mind while talking to those back in the states in a planning stage, as you kept floating back and forth between dollars and pesos (in some cases without defining, just the number) - we're sure it's hard for someone back in their home country that can't quickly convert to follow along and understand as they're trying to keep up with what your saying (for them we suggest, hey it's utube, stop the vid and repeat that part till you do get it) - over all we like your general thoughts and the breakdown (and concur), and yes saving part of your pension can be important especially when unexpected medical issues arise (St Lukes isn't that cheap lol)
But you are paying for 2nd apartment + 2 sets of utilities+ health care + allowance for girl friends kids etc Many of these line items don't apply to those who are not willing to pay these extras for whatever reason (not being a simp, plus maybe bad experience in past for being Mr nice guy) $1500 doesn't mean living frugal, if there spending it.on #1 themselves, not being a simp, that's majority a thankless sacrifice n effort. I think once before u said paying life insurance, well that's fine, but majority don't need that life insurance
15bucks in US is only a meal or it just a rate/hr there. Meanwhile here in Philippines 12 bucks is a daily wage for an 8 hours work 😢. Living here for locals is not cheap anymore but foreigners it is cheap since their money is more valuable than peso.
A lot of my expenses are due to boredom. I go shopping. Motor cycles, cars, tools, musical instruments, ( high dollar junk). I have cameras that I have never used, but still shop for others. Not at all logical.
Steve, thank you for telling the truth of the matter and drilling some reality into peoples heads, self included. People, when ‘retired’ in one way shape or form, have to do something during the course of their day and other than walking, most things are not free. Sitting in a cheap apt / house somewhere, staring at the walls, on $1k+ / month is not what life ‘ living ‘ retirement is about to me… that sounds more like escaping ‘ surviving. I am here in the US on an $8k budget and at the end of each month, I have $0. I can’t wait to get to SE Asia and improve my quality of life, which is my primary driver… not the money. The savings will come but I know that if I am too money focused, that is all my life will be about, money, and that doesn’t feel good or rewarding as I think about it. I have a style of living here that I can’t pretend won’t come with me (to some extent) where ever I go even if I simplify it based on my new surroundings.
The rents around the 128 belt, around Boston….$1500 for a studio is minimum. Utilities, easy another $300 - $500. Then the car and insurance is thru the roof. Easy $600. You’re almost at $3,000 for housing and transportation. It’s crazy, don’t know how people do it…
When I retire, I want to live comfortably not just exist or continue to struggle to make more income. So for me, I want no less than 5k per month passive income. I would live like a Filipino...a rich Filipino. 😉
Great video. For you guys who moved to the PH, did you all sell of your homes back home, or do some of you still own property back home that you rent out? Is it better to have a chunk of money in the bank as an expat, or is it better to get a monthly extra income from the tennant "back home" paying their rent?
For the life of me I don't know how you spend $3000 per month when your rent is $70. I believe you when you say you do spend that much but I just don't see how. That's an average of around 5400 php per day. Like another commenter I consider budget and income as two different things. The "budget" my wife and I live on is about $1k per month more or less. House is paid for.
Hey Steve - thanks for sharing from the heart. --- I would like to know how a $1500 retired life in even an average US town (much cheaper than Boston) is better than the Philippines ? Especially when your past 70 and insurance is unaffordable everywhere ? --- I don't see the US as 'better' necessarily if you can't afford the bills here either ? = A roof (over your head) and perhaps a banana to eat might be the higher priority ? Those of US who aren't really prepared for 'anything' are really screwed either place if the wrong circumstances arise ? Are we not ? So how is the US really any better if a worst case scenario does happen ? --- Looks like plain old SOL either place to me ? --- Please comment ! --- Some % of people would live much better where your at than in Boston on the average $1500 - w/o a major health issue - would they not ? Life doesn't come with written guarantees for anything. --?-- The average Filipino and Filipina certainly aren't prepared for catastrophic health issues and from what I can tell they don't seem to allow that fact to ruin their days ?
Here in the Philippines is good for retirement if you are wise to use your retirement. You can own house and lot. Simple life here. Some foreigners become homeless and beggar because they got wrong women to love.. It is very disappointed to see a foreigner became beggar in the street.. Im pilipina Philippines is a good place to live. You can build your own business and house just fucos in a write way avoid gambling alcoholic addiction, iwasan po ninyo ang mga babaeng walang dignity para maging maunlad ang buhay ninyo dito sa pilipinas.
It's funny that people call Philippines a 3rd world country (which it is in most of its territory) yet the costs are twice what you pay in southern-west European 1st world countries. I pay $400 in rent for a 2 bedroom apartment + about a room-size of covered, outside storage (to put the washing machine etc. etc.). I spend $200/mo in food. I *ALWAYS* eat every lunch at a bar and every week-end I go to the restaurant. I spend $50/mo for 1GB optic fiber + 2 mobiles lines + 1 fixed line. I spend $70/mo for utility bills. So that's $720 a month to live in a 2 bedroom apartment and eat outside. In a tourist area none the less. This is in Spain. When I lived in Italy, if I stayed in the southern regions I could do the same for $900/month. Of course if I went to Milan I'd spend $2,500/mo or so but it'd be like saying: "I am retiring at New York pretending to save"! Now, how the hell can be Philippines so much expensive than Spain and Italy!
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I agree with you a hundred per cent. I am a retired merchant marine ( Fil-Am ) and we build our own house 3 bedroom, drive a ford Ranger and 2 tricycles and our monthly pension is a little over 2500 k $. And if we have to live in America with this income we would be one of the poorest among the poor. No regrets retiring soon here in the Philippines.
The only way it can be done in Massachusetts (where I am originally from) is if you live with your parents or rent a room in someone's house. Otherwise you need section 8 and food stamps etc. I could never go back there to live unless I had no other choice. I'm not standing in any assistance lines to just survive. I get 3,000 usd per month and own my own land and house and most months put money in my savings. Also I'm far away from crazy liberal policies that are destroying the working people from inflation and taxes.
Hi Steven, I am one of those people who look at income and budget as 2 different things. The money that I will be putting aside for emergencies is not part of my budget. I believe that a 1250 to 1500 budget as a single person should be doable.
Great Video Steve. I’m 63 retired UPS man I live in Connecticut. I basically workout take a nap smoke weed and watch RUclips the weed is to deaden my pain from working 30 years 😉
Great Content as usual Steve . I really enjoy how you break it down. I wish you much success . You have a prosperous and abundance mindset that's key to successful living. Have a prosperous night
I appreciate that!
Spot on. I am here retired with $2k a month. It goes quicker than you think. I'm in the Manila area and it's possible to live here with that, but I live like a Filipino. There are a lot of unexpected costs.
Hi Steve. I started a channel Here in Davao and I mentioned you and your channel is what inspired me and gave me the knowledge I have now
Thank You !!!
Hi Steve, you mentioned that you don't eat Filipino food and I have to say that when I came in March I ate at a restaurant and got sick and threw up. I can't say why I did, but I did. Obviously, I can buy foods there that my system would tolerate and would make my stay a lot more pleasant. Probably the key to all this is to go to a local supermarket and buy foods that I know I could handle and cook at home. I like to BBQ and would be doing that all the time there. I know the grocery stores don't have the selection like in the U.S. Do you have a water filter or treatment system at your home so that you could drink the tap water? Thanks!
One of the expat’s advise wanting to retire in the Philippines is to plan and visit the country at least 4-times and see if it fit on your criteria.
Thanks for the update. Still sounds good to me. In my area spending 300 a week on groceries and 2,500 a month on rent is normal. Guys need to go there and see what they are getting. Don't make decisions about your retirement until you've lived it. My friend is getting ready to retire. He's doing it right. Living for 3 months in a place to check it out. His original location and country changed after this process.
Greetings Steve, I move 140k ($2800) from US to the PH monthly, spend about 90K ($1800). works for us nicely, includes online stuff for the house and hobbies, w/o health Ins. transportation is minimal cause we own scooters (yikes)
Hey Steve, I've had problems with my lower back and hip flexor. If I ride a stationary bike for 15 minutes a day, the pain is completely gone. You should take a look at trying that. I also go to the gym now 3 times a week and it's enough for me to not have any pain. TRY IT!!!
With 25 yrs, in / out of Philippines, My Strong Advice, Before Making the move and Retiring there (all at once esp if you've never been there or its been a long time since) Is: "Book a Trip" and Try it out, 1st (or whatever country you plan to live in), for at least month or two (ideally several mos+).. Esp, Before Retiring there.. First, you'll need to get over the culture shock (even if its just been a long while but esp if 1st time), and you should travel around and See, 1st hand, if and what place suits you best ..That's just Common Sense advice in my humble opinion and experience ..
Great video 2 thumbs up my friend!!!!
Big thanks
are you able to buy solar panels to power the airconditioning at least. how easy is it to buy and install and what are the costs and savings
hi steve. been watching for quite a while. you give a lot of good and prictical info. i was there last july for a month. my gf is 48 and widow. she has a decent home. allthough i need to do a few upgrades. so no rent. about 4 hrs north of manila. when i was there i bought a car. ford fiesta. great shape. 4200 usd. aboout the same as here. most of her family have nice homes. middle class . im 58. i am going to spend half a year here and half there untill 62. i allready have 3k in pentions and at 62 get ss. plus substantial savings. from your channel and others i think i can live just fine. keep up the good work. maybe when i am there i could drive down there and meet you and the guys.
I live 12 miles outside of Washington DC.
My unfinished apartment is 1000 square feet, 2 bed/2 bath
I pay $2350/month
And rent never goes down or stays the same.
Electricity can vary (no gas here, all electric incl heat and a/c
Lowest $40 Highest $100.
I don't know if I can live here when I retire.
I'm 65, single in a mid size town on Bohol. Not in a tourist area. I love motorcycles so I have a Honda ADV. Per month I spend $350 for a nice 2 bedroom. $300 for bills, $300 for food, $300 for fantastic health insurance, $300 for junk, $300 for even more misc. junk. I'm only up to $1,850 even with $600 in the junk category. My social security is $2300/mo. I have $80k in the bank for emergencies, or to just earn interest. I'm fine. Where you can run into a money pit is adopting a GF/Wife and her family. I do buy fresh food at the public market and cook it myself for most meals. Eating pre-made trash food is expensive. My GF does have a job, but I give her an allowance of $150 to boost her income by 7500 per month. It keeps her happy. Any family support is on her, not me.
Live in South Central Florida US. Rent a lot for $500/month with a 1 bdrm camper trailer with an additional Florida room. Ina nice retirement community with a lot of activities & amenities. Have apaid off late model Jeep & a new Harley Davidson. Making it fine & happy here in US with $2700/month with medicare. Have a nice church to attend. Would like to visit Philippines but thinking it wise to keep what i have.
Great information.
Glad it was helpful!
That was a good presentation Steve. Different guys are different in terms of lifestyle and what they like to spend money (or save money) on. The numbers you were kicking around also were relative to a 1st class city urban setting with those associated costs, i.e. Grab taxi's, McDonalds, Texas Road house, rental rates, and the cost of being stuck in traffic.
I agree with your philosophy on tipping. After being here for a number of years I know how much things cost and if a local quotes me a fair price a lot of times I will thank them for telling me a fair price and clearly indicate that I am tipping because they were honest.
The kicker on the comparison to being retired in the Philippines vs. USA is your comments about getting out and doing things. Much nicer setup here in the Philippines for being able to do things as a retiree. That was my motivating factor for making the leap over here.
I am in a 5th class city 35 kms from a 1st class city with access to a condo in the 1st class city. I also own a car and a motorcycle. I live very comfortably at around $1200/month and my kicker is no girlfriend or children to support. Big difference.
If you get in and out of the Makati area and you haven't discovered it yet, be sure to hit the Filling Station Bar and Cafe.
Great Video Steve, I like your philosophy about tipping…..especially for excellent service. Also about living, it’s a hard transition from going to saving all our lives to spending however it’s time live each day and do the things we love
Hi Steve. Bob from Ayer. Now in binangonam rizal I am experiencing exactly what you refer to. Love it here. 2500 pension plan to stay
Thanks for sharing
I guess I'm a little different then most my wife and I own our home in America and 3 homes in the Philippines.
So weather we are living in the states part of the year or in the Philippines part of the year our upper middle class lifestyle is the same.
So to be honest we spend about the same each month in both countries give or take a few hundred dollars depending on the month and what holidays, birthdays, anniversaries and vacations are coming up.
Good video Steve.
There's a Kenny Rogers?!? No way! That alone sells me on it. Love some KR Rosters. The one here went out eons ago. Packing the bags!
You are a nice person .thank you
Thank you too
I'm in the 4k+ budget but I try and save 1 or 2K a month here. I live very good but I was also well off in the States. I just prefer SEA over anywhere else in the world.
Hi Steve, you are absolutely right. The way I see it, moving to the PHL is best for people with 15K to 50K per year. These guys will see a big improvement in their life .
Love your vlog Steve. A couple of thoughts first, I work two weeks, and have 2 off, (2000 mile difference from work, to home, and work is very remote) and when im home, i truly am a home body. I surf the internet and plan a lot..so i think i'll likely be very content gardening surfing internet, and other non costly things. When i retire, at 62 in 18 months (hope to live somewhere in Tanza area with GF and her nanay) I will want a day at the beach, or go see Tagaytay, etc. Definitely McDo, and Jollibee. Not into malls at all, not into crowds, but really just not travel by plane anymore. Any way, I agree with you and your costs, and have been researching it for about 5 years. Im thinking an Ebike for local, and rent a car and driver for long trips. Not a vet, so i will likely as you point out need good insurance, and that will be a large cost (altho not like the states) My Question: should i keep like 50K in a bank in the PH? If i need it its already there, and easy access. Other than that, ill keep the rest in the US in IRA and bank account. THX
so lets say you got about 2300 a month(Tax free/after taxes) is that enough for the phillipines? I mean only way you could do that stateside would be to pay off the land but you still are going to have alot of expensive taxation on everything.
Love the comparison Steve. Really good stuff. I'm from Birmingham, Alabama and even Birmingham now down in the city you are gonna pay $1,200 - $2,300 for an apartment. It's crazy! Also everything else that you mention is more expensive. That's why you see so many move to Philippines, Thailand, Ecuador ..etc
You simply can live a better retired life and really enjoy yourself. I've got a while to go. Around 10 years or so? That will put me at 55-56 to retire. Anyways, have a good one man.
Cool, thanks
Very good. Will there be a part two?
"$1000 Retirement in USA vs Philippines"
Haha that would be a good one!
Great video as always Thank u 4 the tru costs. Living just north of nyc in da burbs Oil prices went crazy . Evertthing is thru the roof right now,, Aprreciate ur vlog Thanks again
Thanks for sharing
Retired in Boston on $3K month is poverty level.
Another good video I'm getting 2700 a month supposed to get a raise next year 3% cost of living in a raise on our social security hopefully be around 3000 or closed anyway
Price is what you pay, value is what you get.
Last night at a hole in the wall pizza joint in Pittsburgh...
1. 8 cut pizza with 4 toppings
2. A diet Coke
3. Tip and tax
TOTAL $31.27
Can’t wait to move there brother! Looking like Bataan area will be our choice. It’s near Manila and from what research I have done my insurance (tricare) is accepted by many hospitals. I will been seeking your assistance for helping find a rental house ( $500.- $800) range more or less.. something just outside city. Enjoy your videos keep’em coming!!
Berry
Hi Berry, We can’t assist on rentals in that area unfortunately
Good breakdown on what to expect. Looking at a budget for owning a home, paid off car and other debts, and it still can be difficult to 'get by' on a 2-3k/month budget in suburbs, and greatly down-sized city life. Just the normal monthly living expenses, with nothing but staying home and 'making do' can easily eat up 2k/month unless really cutting back.
Spend it and enjoy it!!
Hi Steve! I will be arriving in Manila, Philippines on the 30th of August next month. I do have relatives in the Philippines but I don’t want to stay with them. I would like to be by myself. I’m thinking about looking for a place to stay maybe in Trece Martires, Tagaytay or Taguig Rizal in Manila. Don’t know yet I’ll wait till I get there and check these places. For now I am a tourist but I may stay longer-it depends. Thank you for all the information that you’re giving us and I hope you have a wonderful day ahead of you 😄.
So right. I live in Silang it's also one of the cheaper areas to live. I would tell anyone you need at least $2000 a month to live comfortably. But $3000 to enjoy living here.
I live in a gated high-rise building near Alabang with beautiful gardens and pools. I have priced something similar in places like Florida and California and it would cost a minimum of ten times as much. I know people in NYC who pay more for a parking space. That affords us much more freedom to eat whatever and wherever we are, have a housekeeper and buy more expensive, but not extravagant clothes and things.
How do the landlords make $ renting out apts for less $100 a mo? How can they maintain/fix stuff and come out ahead ?
Great video, yes many folks looking to leave the US for a affordable retirement.
Absolutely
A bit off topic but u mentioned hair cut and shave. There’s Nothing like a straight edge razor shave! Nice smooth surface. Where can u get one in USA
My wife cooks our meals, hand washes our clothes. Yes, occasionally order out but majority of meals are cooked by wife.
When I come for my first trip I am probably going to stay at AirBNBs because I am going to go to a few different islands and won't stay in one place for long. The AirBNBs look about $30 a night.
Living anywhere around greater Manila will easily require 3000 USD pee month. Living in other popular expat areas may be less. We are buying a 1 bedroom, 1 bath condo in Cainta Rizal, so monthly mortgage alone is 45,000 php. Other big expenses include laundry, drinking water, and health and life insurance. Location and lifestyle seem to define things.
Good Morning!
Morning!
I live on about 2k a month now in Indiana, but my house and car are paid for .
But in retirement you wanna live and travel
Can you register a car or bike as a tourist? Or would you have to rent one?
I really appreciate your budget videos that have details and examples from your life. This is such a major part of a decision that is already huge for us. I also like that you talk about lifting up the people there but treating them with dignity.
I just posted my first couple of videos and my plan is to vlog about our process of getting to the Philippines over the next few years. I linked one of your previous videos and hope you'll give me permission to link more, if/when they relate to what I post? My hope is that as people watch my videos I can direct them to the expat community on RUclips so they can learn more.
I know this is off topic, but how do you handle jury notices that arrive at your US address?
I don’t have a U.S. license anymore so they don’t arrive.
My Filipino family monthly budget of 5 persons is between P40k to P50k
I have learned that since I haven't actually rented in 30 years I misunderstood these budgets. So if you purchase a place a budget of 2k to 3k will cover most needs. That being said I would rather purchase in a gated community or a new build and relax! I don't like tight spaces it would I assume be better than Condo or apt living since it was before my first marriage since I lived like that!
It's a little more in Chicago Steve
I went to Boot Camp near there.
I tell my students to "pay your future " That means save money and don't touch it until you are retired. Only a few follow that lesson. My retirement budgets also have a payment to my future self, just to make sure no surprise happens.
Thank you, Steve. I always watch your vlogs, and I asked my American Bf to follow your vlogs, too, so it's helpful for him to understand more about living in the Philippines for expat.i got a house in San Pablo Laguna and planing with my bf to move there and retire soon.
Thank you very much it's very informative 👍
Glad you like them!
How could I do on $4500 a month as a single 38 year old guy there?
To do a meaningful comparison you'd need to compare a specific area in the US to a specific area of the Philippines.
My home town is in Butte county above Sacramento. Renting a home here in Lapu-Lapu for 20k which would not rent a rent in Ca.
Thanks for the presentation. Good info. An American can't own land in the Philippines.
Hola a second. Did he said 70 bucks per month?
Nevada is very expensive , California business swarming to Reno and Vegas driving up the cost of living. …
good presentation - one 'small' thing to keep in mind while talking to those back in the states in a planning stage, as you kept floating back and forth between dollars and pesos (in some cases without defining, just the number) - we're sure it's hard for someone back in their home country that can't quickly convert to follow along and understand as they're trying to keep up with what your saying (for them we suggest, hey it's utube, stop the vid and repeat that part till you do get it) - over all we like your general thoughts and the breakdown (and concur), and yes saving part of your pension can be important especially when unexpected medical issues arise (St Lukes isn't that cheap lol)
But you are paying for 2nd apartment + 2 sets of utilities+ health care + allowance for girl friends kids etc
Many of these line items don't apply to those who are not willing to pay these extras for whatever reason (not being a simp, plus maybe bad experience in past for being Mr nice guy)
$1500 doesn't mean living frugal, if there spending it.on #1 themselves, not being a simp, that's majority a thankless sacrifice n effort.
I think once before u said paying life insurance, well that's fine, but majority don't need that life insurance
Where do you live in the Philippines? Cebu? Great Vid..
Trece Martires
Steve, where are you located in the Philippines?
Trece Martires
I think I will stay in the U.S., enjoy your time there.
Income and budget are totally different, it's like "the price of something vs the value of something" totally different
Awesome comparison Steve! Living on $2k/mo in the USA is not fun.
$3,000 here in the philippines you are king
When I first went to the US..Then I saw the rent… holy cr*p, probably the biggest culture shock for me at that time
15bucks in US is only a meal or it just a rate/hr there. Meanwhile here in Philippines 12 bucks is a daily wage for an 8 hours work 😢. Living here for locals is not cheap anymore but foreigners it is cheap since their money is more valuable than peso.
A lot of my expenses are due to boredom. I go shopping. Motor cycles, cars, tools, musical instruments, ( high dollar junk). I have cameras that I have never used, but still shop for others. Not at all logical.
AM I allowed to keep my SSDI in Philippines? And I see their a place in Manila we go for social security
Yes
Steve, thank you for telling the truth of the matter and drilling some reality into peoples heads, self included. People, when ‘retired’ in one way shape or form, have to do something during the course of their day and other than walking, most things are not free. Sitting in a cheap apt / house somewhere, staring at the walls, on $1k+ / month is not what life ‘ living ‘ retirement is about to me… that sounds more like escaping ‘ surviving. I am here in the US on an $8k budget and at the end of each month, I have $0. I can’t wait to get to SE Asia and improve my quality of life, which is my primary driver… not the money. The savings will come but I know that if I am too money focused, that is all my life will be about, money, and that doesn’t feel good or rewarding as I think about it. I have a style of living here that I can’t pretend won’t come with me (to some extent) where ever I go even if I simplify it based on my new surroundings.
Hey Steve. How easy is it to find an apartment for rent while still overseas? Would love to have one by mid April. Thanks
Easy
The rents around the 128 belt, around Boston….$1500 for a studio is minimum. Utilities, easy another $300 - $500. Then the car and insurance is thru the roof. Easy $600. You’re almost at $3,000 for housing and transportation. It’s crazy, don’t know how people do it…
Even Lawrence is expensive
When I retire, I want to live comfortably not just exist or continue to struggle to make more income. So for me, I want no less than 5k per month passive income. I would live like a Filipino...a rich Filipino. 😉
Awww, a man after my own heart…… I also love American food….. McDonalds, pizza, steaks. lol
How can a person w/$3800,approximately live?
Also, is it better to rent or buy house/ condo please?
Heating is a LOT more expensive than AC here in the U.S.
Yes
$70 a month for a apartment? Seriously? You have a video up on it Steve. Thanks.
Many !!!
Great video. For you guys who moved to the PH, did you all sell of your homes back home, or do some of you still own property back home that you rent out? Is it better to have a chunk of money in the bank as an expat, or is it better to get a monthly extra income from the tennant "back home" paying their rent?
Both!
So my 8k usd/ month would be good enough.. I do have 4 kids and wife.. wonder if college is cheaper there?
Yes
For the life of me I don't know how you spend $3000 per month when your rent is $70. I believe you when you say you do spend that much but I just don't see how. That's an average of around 5400 php per day. Like another commenter I consider budget and income as two different things. The "budget" my wife and I live on is about $1k per month more or less. House is paid for.
We travel and go out to eat and more
Kenny Rodger’s restaurant is gone from US
You can rent a very nice one bedroom and many 2 bedroom apartments for $700 per month here in Kansas. Get outta Boston!
I agree
Texas Roadhouse... McDonald's? Steve, man, you have to up your dining out game. :-). Chili's is good though.
l would budget fot two thousand euro a week tax free....is that enough ?
Yes
The fumes really bug me in the jeepneys and the trikes. I'll always take taxis so I'm going to have a car 😎
What did you mean the money you make off adsense is above $3k?
No, That’s my pensions. Adsense makes up the rest above my pensions
How much did you pay when you went to Paghansan falls
I don’t recall but it’s reasonable
Hey Steve - thanks for sharing from the heart. --- I would like to know how a $1500 retired life in even an average US town (much cheaper than Boston) is better than the Philippines ? Especially when your past 70 and insurance is unaffordable everywhere ? --- I don't see the US as 'better' necessarily if you can't afford the bills here either ? = A roof (over your head) and perhaps a banana to eat might be the higher priority ? Those of US who aren't really prepared for 'anything' are really screwed either place if the wrong circumstances arise ? Are we not ? So how is the US really any better if a worst case scenario does happen ? --- Looks like plain old SOL either place to me ? --- Please comment ! --- Some % of people would live much better where your at than in Boston on the average $1500 - w/o a major health issue - would they not ? Life doesn't come with written guarantees for anything. --?-- The average Filipino and Filipina certainly aren't prepared for catastrophic health issues and from what I can tell they don't seem to allow that fact to ruin their days ?
I’ll vlog this and use your comment. Hopefully this week !! Great comment
How do you spell the town you live in?
Trece Martires City
How do you spend 3000 when your is $130 a month ?
Very easy here if you live an active retirement life
Here in the Philippines is good for retirement if you are wise to use your retirement. You can own house and lot. Simple life here. Some foreigners become homeless and beggar because they got wrong women to love.. It is very disappointed to see a foreigner became beggar in the street.. Im pilipina Philippines is a good place to live. You can build your own business and house just fucos in a write way avoid gambling alcoholic addiction, iwasan po ninyo ang mga babaeng walang dignity para maging maunlad ang buhay ninyo dito sa pilipinas.
It's funny that people call Philippines a 3rd world country (which it is in most of its territory) yet the costs are twice what you pay in southern-west European 1st world countries. I pay $400 in rent for a 2 bedroom apartment + about a room-size of covered, outside storage (to put the washing machine etc. etc.). I spend $200/mo in food. I *ALWAYS* eat every lunch at a bar and every week-end I go to the restaurant. I spend $50/mo for 1GB optic fiber + 2 mobiles lines + 1 fixed line. I spend $70/mo for utility bills. So that's $720 a month to live in a 2 bedroom apartment and eat outside. In a tourist area none the less. This is in Spain.
When I lived in Italy, if I stayed in the southern regions I could do the same for $900/month. Of course if I went to Milan I'd spend $2,500/mo or so but it'd be like saying: "I am retiring at New York pretending to save"!
Now, how the hell can be Philippines so much expensive than Spain and Italy!
It’s a 2-3K budget for good living and insurance and a bit of saving to for your 70’s, etc. you got 24/7 off…..