• Announcements

    • Paul

      New Members' Forum   03/09/2017

      Hello. If you are a new member, and feel a bit apprehensive about posting in the "open" forums, or, just wish to get your "sea legs" prior to posting in the open forums, feel free to post anything you wish to talk about, in the Newbies Forum. No one will bother you, or give you any sort of grief. Everyone there is happy to help you get answers to your questions.
  • Commercial Banner Advertisers

Sign in to follow this  
Followers 0
mikesaw

moving after 5 more years......

29 posts in this topic

My Filipina wife (a high school teacher from Cebu) and I will move to the Phils after 5 more years (I'll be 60 then). I will have about $2,500 per month retirement income at that time. She will then work there, as will I (I am an American general practice lawyer/educator, and hope to do legal process outscourcing/visa work/child support work/teaching/whatever/etc).

 

Will this be enough to live somewhat comfortably? Small apartment, small car, going out a couple of times per week, eating mostly Philippine style diet, but some western meals, occasional trip to beach, some naughtiness on my part, etc? 

1 person likes this

Share this post


Link to post
Share on other sites

Posted by Salty Dog, 04 December 2013 - 07:09 PM in another topic

 

I would consider myself pretty average in terms of what an expat spends to live in Cebu. I'm sure some spend more and some less. I haven't bought any big ticket items or taken any trips this year. I've spent about one million pesos ($24,000) this year. That comes to an average of P83,000 ($2000) a month. There were a few medical expenses, but nothing out of the ordinary. Oh and I got married but I would say all total, I spent less than P100,000 on that. We like to live in a nice home so my rent is maybe high by comparison,P25,000 ($600). We don't party or drink, but like to eat out as often as we want. Other than a meal at TGIF, we usually get by for less than P500 a meal for the two of us. We go to the movies maybe once a week and that is also less than P500 for the both of us. Cell phones and internet is a significant monthly fee, about P5,000 ($120). I like my high speed internet service so I don't mind paying extra for it. The wife has unlimited calls and text to her family and I have an unlimited data plan with an extra P800 credit a month that covers all my text and calls. We probably spend on rent and utilities which include, TV cable, internet and cell phones about  P40,000 ($900) a month. I would guess we average about P10,000 ($225) a week for all other expenses which would include transportation cost, groceries and eating out, medical, entertainment, personal items, clothing, household items and assorted odds and ends.

5 people like this

Share this post


Link to post
Share on other sites

some naughtiness on my part

 

That is the most cost i think

1 person likes this

Share this post


Link to post
Share on other sites

My Filipina wife (a high school teacher from Cebu) and I will move to the Phils after 5 more years (I'll be 60 then). I will have about $2,500 per month retirement income at that time. She will then work there, as will I (I am an American general practice lawyer/educator, and hope to do legal process outsourcing/visa work/child support work/teaching/whatever/etc).

 

Will this be enough to live somewhat comfortably? Small apartment, small car, going out a couple of times per week, eating mostly Philippine style diet, but some western meals, occasional trip to beach, some naughtiness on my part, etc? 

 

The $2,500 US will be enough to live comfortably here without working. Your wife can work here as a teacher provided she can get a job. It may be a bit of a shock to her system though if she has been teaching in the US. You, however, CANNOT legally work here as a lawyer. The Philippine constitution expressly prohibits foreigners from practicing their profession in the Philippines (unless you are employed by a multi-national company and was hired overseas to come here to work for them. You certainly won't be allowed to open an office here (where clients would come in for your help.

 

It is possible that you might find work through an NGO doing business here, but that is a long-shot. It is also possible that you could find a job as a school administrator, but you would need to make some good connections. If you do want to do something in the legal field, your best bet would be to keep your practice on the Internet (legal process outsourcing)...and don't try to actually start a business here. Set up your business, and get some clients...before you make the move to the Philippines. Use a US financial institution to handle your income. Then just wire money to yourself as necessary.

 

So, the good news is that you can live the lifestyle you described...and you can actually live quite a bit better than that. The bad news is that while your wife may be able to add to the monthly income, you will likely not be able to...at least not by practicing law as a regular lawyer.

Edited by Headshot
1 person likes this

Share this post


Link to post
Share on other sites

He could certainly open a business which focuses on legal process outsourcing, putting his legal experience to work, and in fact own 100% of that business. 

Share this post


Link to post
Share on other sites

5 years is a long time from the present,you must be bored and day dreaming.

Share this post


Link to post
Share on other sites

You have 5 years to figure a way to increase your monthly.   Shoot for at least 5K a year. 

Share this post


Link to post
Share on other sites

A lot can change in 5 years, so advice you get today may not be accurate or even close then. From experience I can tell you that when we bought our condos about 8 years ago the cost for them was less than half of what they sell for today and the exchange rate was a little over 48 to one then, today around 44 to 1 which would of course increase the cost even more.

 

Also electric back then was just a little more than what we were paying in Florida, today I believe if the increases go through then it will be 3 times what we pay in Florida per kwh.

 

Food was much more reasonable back then when compared to now but shopping now is much better yet my wife and I lived on less than $1000 a month then but last year we could not live the same lifestyle on $1500 a month and we own our condo, so no rent, only monthly dues and property tax..

 

Road in the city sucked back then and suck now so no difference on that but the big difference is there is way more vehicle traffic in the city nowadays and with all the building going on, I shutter to think what it will be like in 5 more years. 

 

Back then there was no coal fired power plant in Naga, a few years ago (unsure of exactly when) they fired it up and IMO pollution is much worse now.

 

Things change but it never hurts to plan in advance just do not lock yourself in on anything until you get very close. 

 

Can you live on $2500 today, yes pretty much like a king but years back everyone bragged how a person could live like a king on less than $1000 and while many people do live on $1000 a month or less, I would argue that the definition for myself would not be that they live like a king on that amount but each of us has a different definition of what being a king might be like. 

 

 

IMHO Cebu is going to be very different in 5 years, time will tell if those changes are mostly good or bad.

1 person likes this

Share this post


Link to post
Share on other sites

 

Posted by Salty Dog, 04 December 2013 - 07:09 PM in another topic
 
I would consider myself pretty average in terms of what an expat spends to live in Cebu. I'm sure some spend more and some less. I haven't bought any big ticket items or taken any trips this year. I've spent about one million pesos ($24,000) this year. That comes to an average of P83,000 ($2000) a month. There were a few medical expenses, but nothing out of the ordinary. Oh and I got married but I would say all total, I spent less than P100,000 on that. We like to live in a nice home so my rent is maybe high by comparison,P25,000 ($600). We don't party or drink, but like to eat out as often as we want. Other than a meal at TGIF, we usually get by for less than P500 a meal for the two of us. We go to the movies maybe once a week and that is also less than P500 for the both of us. Cell phones and internet is a significant monthly fee, about P5,000 ($120). I like my high speed internet service so I don't mind paying extra for it. The wife has unlimited calls and text to her family and I have an unlimited data plan with an extra P800 credit a month that covers all my text and calls. We probably spend on rent and utilities which include, TV cable, internet and cell phones about  P40,000 ($900) a month. I would guess we average about P10,000 ($225) a week for all other expenses which would include transportation cost, groceries and eating out, medical, entertainment, personal items, clothing, household items and assorted odds and ends.

 

 

 

Thanks Salty.

 

Your's has been one of the most comprehensive COL posts I've read. I was concerned about doing it on 130  / 150 K P  a month.

 

67, will be single, no kids with me, no pre-existings, don't plan on buying a house, condo, or car. Not into anything expensive. 

 

I know I'll be spending more initially while deciding if it's for me before settling down.

 

Cebu will be my base for exploring so minimal but comfortable / secure place will be first priority.

 

Considering living in hotel (3 / 6 months) would have everything I'd need. Will be asking for suggestions when time comes. I know NOT to even look at Kano web listings.although there was one for 60 K a month that had an "exercise poll" in bedroom.

Share this post


Link to post
Share on other sites

I think it really depends on you and not so much a specified amount of money.

 

When I first came here, I set a budget for myself solo and lived within those means. When I got hooked up and began a family overnight, I just adjusted and stretched that budget to support a family of five. I felt that I was still living comfortably, but the budget was a bit tight.

 

When social security kicked in, my income went up. LOL ... but so did the family expenses. We live comfortably, but the budget remains a bit tight.

 

 

 

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0

  • Commercial Banner Advertisers

  • Adsbygoogle

    Advert

  • Recently Browsing   0 members

    No registered users viewing this page.



  • Donation Goals

    Modifications, Applications, & Plugins

    Purchase and renewal costs for themes and various features added to the forums.

    $30 USD added to cover PayPal fees.



    $231.01 of $280.00 goal reached.
    Donate Now
    Yearly Hosting Fees

    Yearly web hosting fees, $75 USD / month.

    $30 USD added to cover fees.



    $359.72 of $930.00 goal reached.
    Donate Now
    Software Licensing Renewal Fees

    This goal is 100% funded. Please choose one of the others to support.

    $50 USD every six months for software licensing.

    $15 USD added to cover PayPal fees.



    $115.08 of $115.00 goal reached.
    Donate Now
  • Donation Stats

    • Total Donations
      $705.81
    • Total Fees
      $29.19
    • Total Goals
      $1,325.00
    • Still Needed
      $619.19

    • $705.81 of $1,325.00 goal reached.
  • Adsbygoogle

    Advert