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When is enough, really enough?


Paul

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Monsoon

I'm counting down guys, the wife's immigration plus 3 years and I'm outta Maryland to the land of fish & tuba (and good ole San Mig Light!) Could go sooner, but I want the wife to have a blue passport!

 

 

They are over rated...

 

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 Was a big factor in my decision to move the family to the US. The Philippine passport is pretty worthless on a global scale. And only good for 5 year intervals. It is good for free long time stays the PH and visa free travel to the few ASEAN countries that make the rest of us buy a visa. Not sure I'll even bother to renew my daughter's PH passport. The only thing it has going for it is it is cheap. 

 

But my idea of retirement is not dealing with the daily crap that one faces in the PH. 

 

Been there, done it, have too many stories to tell... And half way around the world it continues to be my only source aggravation. 

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Wanabethere

Great read, and I did read it all. Wow funny how so many people define the word retirement differently and I am no exception. For me it means getting to a point in life I do not have to punch a clock and be beholding to someone else for a paycheck. So the guys grandpa who was worth a million at 40 and did not have to work again to me he retired at 40, the guy who says he will never retire but plans to only work a couple months a year fixing homes to me he is already retired maybe semi but retired. But that is my definition not theirs.

 

I have a spread sheet from now to 93 and 12 retirement dates along with 3 life styles. I also have a budget that accounts for inflation and the peso rate in the 40~38 to the USD range for all those years. I just turned 51 and my plan is to retire to the Philippines before my 55th birthday and after my daughter graduates from high school. That gives me a 7 month window. Just because I am retiring from working in the USA to move to the Philippines does not mean I will not have work or anything to keep me busy. I have a ton of plans from a farm to be self sufficient for food at least 50% is my goal. And I love working with wood and carving so I have thought about apprenticing myself out to a local bamboo furniture builder and also to a door/wood carver. I want to fish in the gulf by my home in my kayak, go scuba diving and travel around the Philippines. Learn Arnis (stick fighting). (I have a budget from 47,000php to 70,000php) I hope to live on less than that. I have no pensions just money I have set aside for the last 15 years for this goal, my place in the Philippines is paid for. At 62 I will get my SSI. This is my plan and goal, in 5 years you will know if I made it.

 

I have not put off my life, I still go to the Philippines twice a year for vacation at least 2 weeks each trip. Visit my friends, scuba dive and just enjoy what the Philippines offers. (and I have been doing that since my divorce in 2007) in 2013 I stayed their for 2.5 months to see how i would like it. I still go fishing and camping in the States and take mini vacations with my daughter. I have offered to pay for her college in the Philippines.

 

I hope to make a lot more friends in the Philippines and I will be sure to visit when I am around a meeting place. I have gotten a lot out of this site. Thank you!

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JohnD

This post has been running since 2009 and maybe one of the reasons is after being here a while the "when enough is enough" can become a daily question.

 

I left the US 6 years ago, at age 46, to live here forever (or something close to that). I had sold my business and my house here was complete.

 

Most of my time has been in Cebu with 1 year in Bonifacio Global City which in my opinion is the best the Philippines has to offer.

 

Married now almost 13 years and with a young daughter it is not so much the issues in the Philippines that make me say enough. It is more of what is missing.

 

A quality education for my daughter, easier ways to make money and just a general sense that things work.

 

I said before I was never going back and I still may not but the question is there and for anyone who plans to retire here it will after a while.

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Contango

(Posted 21 October 2012) I have recently advanced my retirement plan, i turn 50 in Jan and will retire in Dec 2017 at 54 years of age, i'm Australian so my super is locked up until i'm 58 so i will have to live 100% off my investments and stock market activity's until my super kicks in...1200 AUD / 50000 pesos a month should cover it as i will not be paying rent.

 

Personally i hate work and always have, i hate dealing with the public and work colleagues (mostly idiots) i find it all a pain in the ass, i hate the train and hate the traffic....i just cannot relate to those who cant pull the trigger, other than to say i know how easy it is to do what you have always done, some people struggle with even simple change...im not one of those people.

 

I wont need a pension until at least 2025 so ill start worrying about in in 2023.

3 and a half years later, i have been in a much higher paying job for the last 2 years so im already past the original superannuation target i set and now plan to add another 40% to the account, push out my ex date to Jan 2018, only just found out that i will pay tax on my Superannuation withdrawals until im 60 so 2023 very annoying, need to stay longer to reduce the CGT as leaving is considered to be a CGT event..only recently found that out as well.

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Wanabethere

My friend Carl puts it "the not quite right", or "just almost". He has been living there about as long as you JohnD, and my other friend Bob has been there 5 years. I know I will get frustrated, but I hope to remember why I did it. I know I cannot retire here in the States, I would be working into my 70's or beyond just to pay for medical expenses. The last place I worked my boss was in his 80's and would fall asleep in meetings but he could not bear to think of retiring. I do not want to be like him. Here in California between Taxes (Federal, State, Sales Tax, Property, and fees) and Insurance (car, house, medical) that is what kills you and what I see is the difference living in the Philippines. I take those out and I live here in California on less than $1,000 per month 46,000peso.

 

I forgot I also set aside $500 per month for my trips to the Philippines. (so $1500.00 a month with 2 vacations to PR)

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TheWhiteKnight

This post has been running since 2009 and maybe one of the reasons is after being here a while the "when enough is enough" can become a daily question.

 

I left the US 6 years ago, at age 46, to live here forever (or something close to that). I had sold my business and my house here was complete.

 

Most of my time has been in Cebu with 1 year in Bonifacio Global City which in my opinion is the best the Philippines has to offer.

 

Married now almost 13 years and with a young daughter it is not so much the issues in the Philippines that make me say enough. It is more of what is missing.

 

A quality education for my daughter, easier ways to make money and just a general sense that things work.

 

I said before I was never going back and I still may not but the question is there and for anyone who plans to retire here it will after a while.

 

Aren't there some quality totally foreign run schools, like the "British School Manila"?

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Wanabethere

3 and a half years later, i have been in a much higher paying job for the last 2 years so im already past the original superannuation target i set and now plan to add another 40% to the account, push out my ex date to Jan 2018, only just found out that i will pay tax on my Superannuation withdrawals until im 60 so 2023 very annoying, need to stay longer to reduce the CGT as leaving is considered to be a CGT event..only recently found that out as well.

 

Thanks Contango, for following up, it is good to hear other peoples plans and were you stand now. Yes government taxes and changes in laws affect us all.

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JohnD

 

 

Aren't there some quality totally foreign run schools, like the "British School Manila"?

 

There are quality international schools. It is just one of the things I mentioned. There are many factors to consider and some days you look out on the ocean and know all your old friends are wishing they were here.

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  • 2 weeks later...
b7335920

I tell ya, I just hear so many guys saying, "Just one more year and I will retire." Well, a friend of mine kept saying that, until he died before he had a chance to retire. I didn't let it happen to me, and I hope others heed this information and advice too.

So many guys i used to work with(transportation) that are "counting down"the years before retirement....they even sell clocks that count down to the day...anyways so many,many,many die shortly after leaving.And lots have turned down the option to leave early for a (significant reduction)monthly pension.I stopped by the lunch room where i used to work,and after walking by the 40000 dollar new vehicles in most the parking spots,i heard nothing but"cant afford to go"over and over again from guys that got 1-10 years to retire.Most are miserable,feel like the company owns them,but cant make the plunge...It took me 3 days to recover from the black cloud of  that mindset and miserable atmosphere...I sure recommend it(leaving early)if a guy can swing it....ive been gone 5 years and never missed it for a minute.....my health went from very overweight to very fit....cant afford a new truck,starbucks,or a fancy house but i sure sleep good at night!

Im doin it backwards I left the states for asia at 19 ive been in korea for 11 years and philippines for over 15 and a few other places in between. Haven't worked for anybody since 1987.Been shot,stabbed,beaten, robbed,cheated,ripped off,had 7 heart attacks,operations,crashes,married, divorced several times and extremely fu#%*& over but still alive.A few more years and I will go back to work again Just wondering What i'm gonna do Ive been semi retired for almost 25 years. It's possible that I could work in the whitehouse considering I dont pay taxes either LOL

Love it!

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b7335920

This is the most interesting topic---all matters related to how much would be OK. This is where expert advice given by those who have lived in the Philippines would do the most good for outsiders considering a move. It also seems to be the most boring of topics for those in the Philippines. Yes, it is tiring to you experienced people, but it is BY FAR the most interesting topic for people like me. There is no upper limit for me on the amount of information related to living economically in the Philippines that I would be interested in examining. I would even like to hear about the sad cases of those who budgeted a little too little and had to borrow to go back "home." I'm not interested in names, but in what I could pick up from their unfortunate experiences.

Take a look at a post i put up about living in cebu the first time...and going back soon....it was recent and i think might give you an idea from a newguys perspective...and good luck!

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Paul

 

 

my health went from very overweight to very fit..

 

I hear ya. My father retired in January, and died in July. Seven lousy months, after having worked his entire life. What a ripoff. 


He got screwed by both the Social Security Administration AND the Brick Mason's Union, to which he had paid in for all his life. Worthless feckers, the lot of them.

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I'm counting down guys, the wife's immigration plus 3 years and I'm outta Maryland to the land of fish & tuba (and good ole San Mig Light!) Could go sooner, but I want the wife to have a blue passport!

Retiring at 55 this year and hope to live in the Phils at least a few months out of a year. Plenty of San Miguel's await but San Mig light? Hell no. It's like the difference between a Stella and a Bud light.  Can't do the light. No way no how.    

san_miguel_beer_by_rolski.jpg

Hey earl I'm waiting for you...

 

 

PCM_3343.jpg

We're waiting too.  Hurry earl.

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  • 2 months later...

The first things I want to say is what a great topic. Thanks for keeping it alive!

 

I personally have about 10 more years to work, 15 if I go for the extra monthly income (but that's the topic right!). I have a minimum of ten years because I still have three kids to support which I do joyfully. Not their fault the ex and I couldn't make it work.

 

But what I really want to say is how much this topic fills me with hope that one day the dream will come true as it has for so many of you. I wish I could take off now and live with my Filipina wife in Cebu but circumstances are as they are (she will be coming here instead).

 

I was diagnosed with Type II diabetes a year ago so that made me start to think about early retirement more seriously. My friends brother just died at age 40 from the same illness. My ex father in law developed Alzheimer's at age 70. He's going to be 76 and doesn't know his own kids anymore. My ex mother in law died at 65 within three months of her cancer diagnosis. It really puts a perspective on things.

 

So I guess when enough is really enough is when you will have enough to be living comfortably which means different things to different people. I have already been gutted from my divorce and now live on half of what I used to make, so I know what it's like to live on less. Knowing that, I could probably get by on what my pension will pay out at 55, by living in the Philippines. Or to put it another way, staying here I would have to work to 60 to be able to make ends meet in my retirement years.

 

So again kudos to those of you who made the decision and went for it rather than waiting for your actual "retirement year" to do so. You are an inspiration for those of us still slugging it out.

 

Cheers!

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and realising that life is meant to be lived, not endured.

there it began my spending issue...  :ph34r:

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