But you still need travel insurance for abroad. We are Canadians and always buy travel insurance. My husband got really sick in Thailand and was 10 days in ICU plus 10 days on the ward . We needed to fly home with a medical nurse. Thank god for travel insurance. Provincial healthcare won’t pick up the tap.
I think there has been a recent case that has shown it is illegal for hospitals to hold you until you have paid. This is because they are basically imprisoning you which is not allowed under Philippine law.
@CAPARN Yep, but what is illegal dont help you if you are in this situstion. You can file complaint aftetwards, but I promise you, you will not succeed 99%
Very well said sir. It happens to my daughter who give birth last week. Unfortunately my daughter didnt expect she is undergo on Ceasarian process because shes thinking only normal delivery. CS is very expensive. As a mother i help my daughter hospital bills. This time you need to keep money for emergency used.
Hey Steve....there is a possible solution to the foreign exchange rate drops. I agree with you that the USD to PH Peso exchange is probably going to go down to where the $1 USD will only get you 40-43 PH pesos (or less). Take your emergency fund (held in USD) and immediately convert most (75%) of that fund into PH pesos. I think you can do that and still keep those PH pesos in a major USA bank. When the value of USD currency drops and you can only get 42 PH pesos for each US dollar...you benefit because you are already holding PH pesos that you got today at the rate of 48 PH pesos for each US dollar. If you have a PH bank that you trust....wire over that 75% of your emergency fund in USD and immediately convert those USD to PH pesos and deposit those pesos in your PH bank. Hell, if things keep going like they are now in the USA, any PH bank may be less risky that the US banks.
Another great reference to the foreign exchange rate issue,Steven! I did some quick research, and from 2013-2020 the peso/USD exchange rate varied by approx. 24% !!! Exchange rate volatilty must be a budget consideration for the long stay, especially if someone is on the low budget side. If you had a 1400 USD Budget in 2018, that is now worth approx $1,280 based on current exchange rate.
I live cheaper in FL cause paid my house off 15 years ago. The only thing cheaper in the Phil's is rent everything else is higher then FL I've confirm this. Excluding taxes of course
Hi Steve. I’m going to live on a lower budget not because I didn’t plan for retirement but because I supported my wife when she had cancer for 6 years and that was financially devastating. People can’t always assume someone didn’t plan. Well ok. I didn’t plan for the day my wife would get cancer and then die. Shame on me for not planning for that. Can’t plan for everything I guess. ✌️
Awesome video yet again and again and again. I wish I knew where to find those flight deals. We might want to check out Singapore sometime in the future. If I don’t apply for permanent residence I’ll need to fly out of the country along with my wife to reset my year.
The truth, the whole truth and nothing but the truth. 😆 thanks Steve just what I needed a real believable budget completely broken down into all the other things I think about especially the health insurance. God bless you brother 🙏 🙏 🙏 🙏
Long story short..3 pages of notes. Insurance light bulb now on...so scary..must now rebuild budget. All fund/accts mentioned are now started, Mostly full. Currently researching alt funding to subsidize 1k ish budget. Thanks for creating my fav. Video!!
My entertainment is a little costly. I love to golf. I will have membership to my local course in my community so not too bad overall once initial cost spent.
you're right in all u say there... but the vast majority of people that retire have little more than social security and maybe a little more from investments, i would bet 85%+ of retirees have available monthly tops 1500-2000$, 95% 1500$ and less...
IF you would know my monthly pension from Germany, probably you would fall into tears and could not stop crying: it's only a small percentage of what every illegal intruder to Germany receives from German Merkel-regime!
You made a good point about living there because you wanted to instead of finding somewhere just for the budget. I cant help thinking it is easier to just holiday for a couple of months a year Maybe I am just selfish
Thank You, Steve, I Have Something To Work To Now, Thanks For Your Honesty And Advise. You Are The best Blogger That I Have Come Across There, And I Do Watch Your Videos To The End.
@@RichTravel1010 thank you, Steve, I don't know if you follow the American cup Yacht Race, it starts in 2 hours and 15 minutes, on tvnz one live. You should get it on your computer, it starts at 4 pm here, you are 5 hours behind us, it's 3 all at present, we are the holders of the American cup. 3rd time and we win it this time will be the 4th. Hope your Sunday morning is going ok, God bless.
i think when Im five years old when we move here in trece martires the market beside the tower mall and the provincial capital was the only building there in trece and some few subdivition way way 1996
we bought a simple washing machine. I don't recall how much it was, but we wash, drain, rinse, then hang out to dry... Hand washing sucks, especially if you're sensitive around the crotch. That's due to use of powdered soap, rather than liquid tide, and cold water wash/rinse!
Thanks for all your advice really useful Channel you are doing. Ive been married to my wife for 26 years we live in Hong Kong but will leave soon. I built a house in the Philippines which we will retire to but i feel i have gained so much useful knowledge from you. I'm planning to retire in 5 years and prepping my budgets now. Will be following some of your tips. Thanks so much.
Great advice as usual! Even "forever" income can fall victim to inflation, but I'm more concerned with my obligations back in the states than in Pinas. My plan, is to bank as much as we can, leaving money in America, and Pinas! I'm keeping our Priceline card, Discover, and 2 Bank credit cards... Priceline has saved us quite a bit of money, on flying, lodging, and car rentals...
Important vlog Steven. I did my Budget on Philippine Peso instead of my currency. I did this for 2 reasons. First, if I am in the Philippines I have to pay in Peso. You will have the possebility to make your budget more accurately. Second, to have better to calculate you forex and inflation. But, if you calculate on your currency, make sure to make a very very secure budget in order not experience bad surprises.
My one worry is the extra costs of her two kids. Especially, dental, clothes, school expenses. I basically have 2 pensions, 401k, brokerage account, and savings. All have specific future uses. I'll run your budget factors and see where I stand. Initial high cost for housing want be offset until house built in a couple of years.
Great video Steve, do you think it is better to immediately get a srrv visa if my plan is to live there for at least a few years if not for life? I plan to get a authenticated police clearance before I leave the usa.
Your wife should be eligible for any Philhealth upgrades! You or I can avail all except Z level plans as expats, or spouses of filipinas. I'll be looking into "hospital subscriptions" on arrival in Pinas this summer as well
I'm trying to plan retirement there I. 5 years. Me and my girlfriend building a house in Panay . Near iloilo city. I'm going to have washing machine and trying to get everything in house before I move there including water filtration system. I'm going to be retiring around 2200 a month. Is that good?
I flunked high school because of homework. Nothing personal but it's the health insurance thing . I don't want to wind up 80 and get wheel chaired to the airport , cause l can't afford health insurance but at 80 l probably won't care, God Bless .
Hey Steve I got Tricare. Do you know the deal with that? Do you know of any hospital’s that take Tricare Prime? I’m hoping to find one in Leyte I know Manila has got to have them.
Foreign Exchange: The best way to deal with currency changes is through hedging. If you think the dollar is going down, buy an ETF that bets against the dollar and vise versa. Right now the dollar is going up because interest rates are expected to rise, so buy UUP. A good broker can help to set it up.
Great video. I like your discussions on insurance. How do you plan for after 65? Do you plan to pay medicare premiums just in case you go back to the states or commit to staying in Philippines and using the extra money to fund insurance there? Also I to receive a small VA disability which gives me access to medical care here in the states. But if we do not pay medicare premiums at age 65 we loose the access to VA medical care. Would love to hear your opinion on this. Thanks again for all your vids.
I would have Medicare as a backup and for VA care for sure. Anyone would be a fool to lose VA care. It’s a great backup in case you tap out due to sickness here.
Have you given much thought to buying a home(obviously in her name)? I got lucky, as my wife's uncle gave us our lot, and my wife's good paying job in America paid for our house, but you may find similar to what you rent now for a good price. IMHO, that's one of the best ways to protect your wife's future...
Steve I’ve watched quite a few of your budget videos and I noticed the one thing that you never do is you never tell us exactly with all the streams of income that you have coming in how much is it that you make a month?? that way a lot of other people can have a pretty good idea if they would be able to live the lifestyle that you do I know a lot of people have a problem spitting that number out because they feel with either private or it’s top-secret and they just don’t want no one to know.. that never bothered me when someone asks me how much I have I tell them I have $1920 coming in every month and I have an emergency fund of $171,000 to me those numbers really are not top-secret but with some people it bothers them to let other people know but I was just curious how come you don’t let us know exactly how much you have coming in and how much you have saved that it would be interesting numbers to the individuals wanting to come over here
My income changes monthly and usually stays way above $2000 a month. I have to many variables to put a base amount. I’m not trying to avoid your questions but it really varies. My Emergency fund is in stocks and also varies daily. But the stocks are fairly safe because I’ve made so much that a 60-70% hit would still leave me in a good place and still with profits in tact. I have well over $30,000 available for emergencies in total. I hope that helps you somewhat..... It’s just the best answer I can give.
It would not be wise to share in too much information. I am sure that Steve's landlord knows that he has a Vlog. They could decide that he needs a rent increase and so could any other future landlords. Other expenses could be "adjusted" to reflect your financial situation. News travels fast everywhere and I'm sure in the Philippines as well. Thanks for all of the information Steve keep up the good work.
Thanks for replying Steve I appreciate that that gives those to Wooster kind a live the same lifestyle you do an idea of what numbers they need to be at I think those are some pretty good numbers but as we both know there’s guys to come over here with 1000 a month and absolutely no emergency fun wow talk about dangerous retirement
![Seungmin "그렇게, 천천히, 우리(As we are)" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/kAzmhLHePqU/mqdefault.jpg)
Really like these videos. For Canadians, we can visit for 6 months per year, then 6 months back home, so we don't lose are health care benefits.
You still need coverage there I am from Canada I always get coverage and insurance never know what going happend in another country.
if you lived in canada more than 40 yrs you wont lose your pension if you stay out more than 6 months...
But you still need travel insurance for abroad. We are Canadians and always buy travel insurance.
My husband got really sick in Thailand and was 10 days in ICU plus 10 days on the ward . We needed to fly home with a medical nurse.
Thank god for travel insurance.
Provincial healthcare won’t pick up the tap.
I love that your house seems to have lots of plants
I think there has been a recent case that has shown it is illegal for hospitals to hold you until you have paid.
This is because they are basically imprisoning you which is not allowed under Philippine law.
@CAPARN Yep, but what is illegal dont help you if you are in this situstion. You can file complaint aftetwards, but I promise you, you will not succeed 99%
Thanks again for the fabulous information 🙏
Our pleasure!
Very well said sir. It happens to my daughter who give birth last week. Unfortunately my daughter didnt expect she is undergo on Ceasarian process because shes thinking only normal delivery. CS is very expensive. As a mother i help my daughter hospital bills. This time you need to keep money for emergency used.
Thank you for all of your efforts and your real-life wisdom.
Any time!
A brilliant video packed with excellent advice. Thank you Steve for putting your time and effort into giving us ideas on what to look out for.
Glad it was helpful!
Hey Steve....there is a possible solution to the foreign exchange rate drops. I agree with you that the USD to PH Peso exchange is probably going to go down to where the $1 USD will only get you 40-43 PH pesos (or less). Take your emergency fund (held in USD) and immediately convert most (75%) of that fund into PH pesos. I think you can do that and still keep those PH pesos in a major USA bank. When the value of USD currency drops and you can only get 42 PH pesos for each US dollar...you benefit because you are already holding PH pesos that you got today at the rate of 48 PH pesos for each US dollar. If you have a PH bank that you trust....wire over that 75% of your emergency fund in USD and immediately convert those USD to PH pesos and deposit those pesos in your PH bank. Hell, if things keep going like they are now in the USA, any PH bank may be less risky that the US banks.
I think it might be ok now... it’s going back up they are saying.
Another great reference to the foreign exchange rate issue,Steven! I did some quick research, and from 2013-2020 the peso/USD exchange rate varied by approx. 24% !!! Exchange rate volatilty must be a budget consideration for the long stay, especially if someone is on the low budget side. If you had a 1400 USD Budget in 2018, that is now worth approx $1,280 based on current exchange rate.
Thanks for sharing that it helps.
Great informative vlog as usual Steve.
Thanks 🙏🏻
Great information, thank you.
Thanks 🙏🏻
Oh yeah!.....First thing....bring more money than what you expect! Not that cheap here! Trust me... I live here🌴
I live cheaper in FL cause paid my house off 15 years ago. The only thing cheaper in the Phil's is rent everything else is higher then FL I've confirm this. Excluding taxes of course
Hi Steve. I’m going to live on a lower budget not because I didn’t plan for retirement but because I supported my wife when she had cancer for 6 years and that was financially devastating. People can’t always assume someone didn’t plan. Well ok. I didn’t plan for the day my wife would get cancer and then die. Shame on me for not planning for that. Can’t plan for everything I guess. ✌️
Usually in some way or another we don’t plan. Even I when younger didn’t plan and paid for it.
Excellent information again... I took some notes again, and put em into my notebook!
Glad it was helpful!
Thank you Steve that was a good start for us appreciate very much 😀
My pleasure!
Awesome video yet again and again and again. I wish I knew where to find those flight deals. We might want to check out Singapore sometime in the future. If I don’t apply for permanent residence I’ll need to fly out of the country along with my wife to reset my year.
The truth, the whole truth and nothing but the truth. 😆 thanks Steve just what I needed a real believable budget completely broken down into all the other things I think about especially the health insurance. God bless you brother 🙏 🙏 🙏 🙏
Hi caparn Steve has a video on your concern. Steve, thanks m8t a thorough plan.
Long story short..3 pages of notes. Insurance light bulb now on...so scary..must now rebuild budget. All fund/accts mentioned are now started, Mostly full.
Currently researching alt funding to subsidize 1k ish budget. Thanks for creating my fav. Video!!
My entertainment is a little costly. I love to golf. I will have membership to my local course in my community so not too bad overall once initial cost spent.
you're right in all u say there... but the vast majority of people that retire have little more than social security and maybe a little more from investments, i would bet 85%+ of retirees have available monthly tops 1500-2000$, 95% 1500$ and less...
IF you would know my monthly pension from Germany, probably you would fall into tears and could not stop crying: it's only a small percentage of what every illegal intruder to Germany receives from German Merkel-regime!
You made a good point about living there because you wanted to instead of finding somewhere just for the budget. I cant help thinking it is easier to just holiday for a couple of months a year Maybe I am just selfish
Thank You, Steve, I Have Something To Work To Now, Thanks For Your Honesty And Advise. You Are The best Blogger That I Have Come Across There, And I Do Watch Your Videos To The End.
Thanks 🙏🏻
@@RichTravel1010 thank you, Steve, I don't know if you follow the American cup Yacht Race, it starts in 2 hours and 15 minutes, on tvnz one live. You should get it on your computer, it starts at 4 pm here, you are 5 hours behind us, it's 3 all at present, we are the holders of the American cup. 3rd time and we win it this time will be the 4th. Hope your Sunday morning is going ok, God bless.
If you've never budgeted start practicing now, wherever you are. It can really be kind of fun, and with practice you can get really good at it.
i think when Im five years old when we move here in trece martires the market beside the tower mall and the provincial capital was the only building there in trece and some few subdivition way way 1996
we bought a simple washing machine. I don't recall how much it was, but we wash, drain, rinse, then hang out to dry...
Hand washing sucks, especially if you're sensitive around the crotch. That's due to use of powdered soap, rather than liquid tide, and cold water wash/rinse!
Thanks for all your advice really useful Channel you are doing. Ive been married to my wife for 26 years we live in Hong Kong but will leave soon. I built a house in the Philippines which we will retire to but i feel i have gained so much useful knowledge from you. I'm planning to retire in 5 years and prepping my budgets now. Will be following some of your tips. Thanks so much.
Thanks for watching
We own our place we save money on rent it makes big difference.
we own our own house , and we can pay all our bills, for less than the gas bill in CANADA
tour in manila bay and corrigidor island its a very intersting site
Great advice as usual! Even "forever" income can fall victim to inflation, but I'm more concerned with my obligations back in the states than in Pinas. My plan, is to bank as much as we can, leaving money in America, and Pinas!
I'm keeping our Priceline card, Discover, and 2 Bank credit cards... Priceline has saved us quite a bit of money, on flying, lodging, and car rentals...
Social blade app ..too kwel. Thanks Steve.
Yes it is !!! It’s a little off on how much we make but it’s close. Mines off by $300 a month.
Is that Social Blade Statistics app? I’m interested and looking for it on Apple store.
can you list please all the different accounts one should have? emergency fund, medical fund, forex fund, etc etc....
It’s all in the video
Wonder if pacific cross or plus works in United States? Keep up the good work
No, I’m pretty sure it’s only good in Asia
Important vlog Steven. I did my Budget on Philippine Peso instead of my currency. I did this for 2 reasons. First, if I am in the Philippines I have to pay in Peso. You will have the possebility to make your budget more accurately. Second, to have better to calculate you forex and inflation. But, if you calculate on your currency, make sure to make a very very secure budget in order not experience bad surprises.
I would not be surprised to see the USD go to 40php. The US has a new gov. that loves debt.
Great tip!
If your gona "Stay over here until the end " ... Boston Strong Brother....
Thanks
It's good have entertainment travel go to malls good way make exstra money crypo or forex
This is regarding the cathie woods ark. I am very happy with the return in investment. Just found out from your channel.
Thank you!
Very good fund. Many RUclipsrs do great channels on those funds too.
And investment to can you pay your insurance by the year
My one worry is the extra costs of her two kids. Especially, dental, clothes, school expenses. I basically have 2 pensions, 401k, brokerage account, and savings. All have specific future uses.
I'll run your budget factors and see where I stand. Initial high cost for housing want be offset until house built in a couple of years.
Great video Steve, do you think it is better to immediately get a srrv visa if my plan is to live there for at least a few years if not for life? I plan to get a authenticated police clearance before I leave the usa.
You need pension papers and others and they need to be Apostilled too.
I took up bowling in the Philippines that can get expensive
You got know how used credit cards
HEY STEVE>>>>Whats the Estimated CPM for a RUclips VLOGGER PHILIPPINES? its part of the formula ...
I’m sure it varies by ads. There is no real set formula or average. The Social Blade App is good for that. Check it out. It’s very informative.
U'LL do ok....
Just downloaded the social blade app from my play store...never knew but its too 😎
What kind of FDIC insurance limits are they? I realize that there is no FDIC in the Phillippins but it's equivalent?
What about retired military using TriCare Overseas or TriCare for life?
People use it at certain hospitals here.
👍👍👍👍👍
easy budget. don't spend your savings. find ways to live on 1/3 of your steady income. Save the rest for unexpected expenses.
Your wife should be eligible for any Philhealth upgrades! You or I can avail all except Z level plans as expats, or spouses of filipinas.
I'll be looking into "hospital subscriptions" on arrival in Pinas this summer as well
It's cheap travel around South asia
When the shit hits the fan, is that a song, if not it should be....😂
Maybe AC/DC can sing it !!! Lol
I'm trying to plan retirement there I. 5 years. Me and my girlfriend building a house in Panay . Near iloilo city. I'm going to have washing machine and trying to get everything in house before I move there including water filtration system. I'm going to be retiring around 2200 a month. Is that good?
How about phil heath and regular health both insurance on each
Some people get both
I flunked high school because of homework. Nothing personal but it's the health insurance thing . I don't want to wind up 80 and get wheel chaired to the airport , cause l can't afford health insurance but at 80 l probably won't care, God Bless .
Hey Steve I got Tricare. Do you know the deal with that? Do you know of any hospital’s that take Tricare Prime? I’m hoping to find one in Leyte I know Manila has got to have them.
I know some hospitals take it here. Not sure which though.
What company provide good wifi in the philippines?
Converge
Foreign Exchange: The best way to deal with currency changes is through hedging. If you think the dollar is going down, buy an ETF that bets against the dollar and vise versa. Right now the dollar is going up because interest rates are expected to rise, so buy UUP. A good broker can help to set it up.
Great video. I like your discussions on insurance. How do you plan for after 65? Do you plan to pay medicare premiums just in case you go back to the states or commit to staying in Philippines and using the extra money to fund insurance there? Also I to receive a small VA disability which gives me access to medical care here in the states. But if we do not pay medicare premiums at age 65 we loose the access to VA medical care.
Would love to hear your opinion on this. Thanks again for all your vids.
I would have Medicare as a backup and for VA care for sure. Anyone would be a fool to lose VA care. It’s a great backup in case you tap out due to sickness here.
How much do you budget for Visa for Phillipines and for gifts/donations?
Zero
Do you have any information on those Charles Schwab atm accounts ,thanks
international.schwab.com/brokerage-account
How old are you now
58 years old and this is my second rodeo here.
I don't know who needs to hear this but stop saving all your money. Invest some of it if you want financial freedom.
Invest in Bitcoin, gold, silver, buy stock, forex market. Anything! Just invest and save yourself.
I advise this in other videos but with money you can afford to lose. Just in case.
(aldi15secsads,samsungs215g15secsads)... can U do a video & w/pics of volcanic eruptions Philippines?
They usually keep people out of the area during eruptions
Have you given much thought to buying a home(obviously in her name)?
I got lucky, as my wife's uncle gave us our lot, and my wife's good paying job in America paid for our house, but you may find similar to what you rent now for a good price. IMHO, that's one of the best ways to protect your wife's future...
We have something going on now where she might get a home through the government. But she isn’t sure yet.
@@RichTravel1010 Good luck! I hope it happens! Men such as you and I, who genuinely care for our partners, do all we can to secure their future(s)!
Show a single expense
Expenses vary
Steve I’ve watched quite a few of your budget videos and I noticed the one thing that you never do is you never tell us exactly with all the streams of income that you have coming in how much is it that you make a month?? that way a lot of other people can have a pretty good idea if they would be able to live the lifestyle that you do I know a lot of people have a problem spitting that number out because they feel with either private or it’s top-secret and they just don’t want no one to know.. that never bothered me when someone asks me how much I have I tell them I have $1920 coming in every month and I have an emergency fund of $171,000 to me those numbers really are not top-secret but with some people it bothers them to let other people know but I was just curious how come you don’t let us know exactly how much you have coming in and how much you have saved that it would be interesting numbers to the individuals wanting to come over here
My income changes monthly and usually stays way above $2000 a month. I have to many variables to put a base amount. I’m not trying to avoid your questions but it really varies. My Emergency fund is in stocks and also varies daily. But the stocks are fairly safe because I’ve made so much that a 60-70% hit would still leave me in a good place and still with profits in tact. I have well over $30,000 available for emergencies in total. I hope that helps you somewhat..... It’s just the best answer I can give.
It would not be wise to share in too much information. I am sure that Steve's landlord knows that he has a Vlog. They could decide that he needs a rent increase and so could any other future landlords. Other expenses could be "adjusted" to reflect your
financial situation. News travels fast everywhere and I'm sure in the Philippines as well. Thanks for all of the information Steve
keep up the good work.
Thanks for replying Steve I appreciate that that gives those to Wooster kind a live the same lifestyle you do an idea of what numbers they need to be at I think those are some pretty good numbers but as we both know there’s guys to come over here with 1000 a month and absolutely no emergency fun wow talk about dangerous retirement
I know you're not king of the world but why can't Americans go to military hospitals in other countries? If never served.
Just create a residual income of 5k a month and live off of 2500.