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rrider

Younger Expats

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rrider

I have noticed a lot of younger expats under the age of retirement in the Philippines, and I notice some have big huge homes there, some own some kind of business, and some just travel around to all these  fancy resorts. and/or all three of the aforementioned. Some vlog, some don't.  And I keep asking myself, where does all their money come from? I worked all my life, and I am now retired, my pension wouldn't cover 1/4 of what I see what these guys have going. 

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to_dave007

I can think of 6 westerner expats here under the age of retirement..  1 is 18 months from pension now and struggles..  but returns to Europe every now and then to earn a few more EURO playing music... 2 are in 50's and near destitute..  3 are in 30's and working in Cebu and living a good..  though not luxurious life.  One owns a car..  Two bought condos.  One (female) lives on family money while trying to open family business in Cebu. None live flashy life style although the young Polish guy and his g/f travel all over PI every chance they get..  But he counts his pesos.

I know of a father son expat team (I think they have successful internet business here).  Father (60's I guess) lives in mountains.. beautiful home but not huge..  imagine Washington state timbers and rocks..    isolated kind of guy.. home schooled kids.  Bit of a survivalist. Adult son is somewhere on east coast north of Cebu city...  but I don't think he lives flashy life style.

Met a group of 10 Koreans recently (a baseball team)..  most under retirement age..  with businesses in Cebu.  Couple of these guys are living large..  likely because they are sitting on good businesses.  No idea what type of business.

Edited by to_dave007

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shadow
4 hours ago, to_dave007 said:

I can think of 6 westerner expats here under the age of retirement..  1 is 18 months from pension now and struggles..  but returns to Europe every now and then to earn a few more EURO playing music... 2 are in 50's and near destitute..  3 are in 30's and working in Cebu and living a good..  though not luxurious life.  One owns a car..  Two bought condos.  One (female) lives on family money while trying to open family business in Cebu. None live flashy life style although the young Polish guy and his g/f travel all over PI every chance they get..  But he counts his pesos.

I know of a father son expat team (I think they have successful internet business here).  Father (60's I guess) lives in mountains.. beautiful home but not huge..  imagine Washington state timbers and rocks..    isolated kind of guy.. home schooled kids.  Bit of a survivalist. Adult son is somewhere on east coast north of Cebu city...  but I don't think he lives flashy life style.

Met a group of 10 Koreans recently (a baseball team)..  most under retirement age..  with businesses in Cebu.  Couple of these guys are living large..  likely because they are sitting on good businesses.  No idea what type of business.

This likely has to do with region. Lots of younger expats in this area, I moved here 17 years ago when I was 42, I was not the youngest at that time.

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Gus

The biggest " cash splasher" I know of was an off-shore oil rig worker.
Aussie ..used to see him at Sandtrap. He would go back to work
( fifo 2 week rotation ) and leave his Aussie wife and kids in the big ( rented ) house in St Lucia, with the 3 ..yes three , helpers .

There were a couple of younger US guys in the same condos as me in Mactan, managing Call Centres, they gave the appearance of living the high life .. eventually 1 did a runner owing his bartab in the little bar downstairs, so I'm guessing things weren't that great .

Sent from my Mi A2 Lite using Tapatalk

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wondersailor

So I guess it not just the Chinese working illegally in the Philippines.

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shadow
1 minute ago, wondersailor said:

So I guess it not just the Chinese working illegally in the Philippines.

And I wonder how you sailed into that conclusion from this thread...

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wondersailor
8 minutes ago, shadow said:

And I wonder how you sailed into that conclusion from this thread...

With open eyes through observation in my own neck of the woods. 

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shadow
20 minutes ago, wondersailor said:

With open eyes through observation in my own neck of the woods. 

Ahh, so you have seen which visa they are on. I was just curious how you knew they were working illegally. There are many in this area here on 9g visas, and of course, anyone with a 13a is eligible for a work permit...

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user333

It might just be perception. If you think they travel a lot and don’t work, maybe they don’t travel a lot and do work but it appears to you that they live a luxurious lifestyle. Maybe they trade stocks or have rental properties back home. I’m in my 30s and work part time online. It pays the bills and affords some luxuries of travel, but it’s a huge pay cut from my “back home” salary and I’m not saving a lot. 

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RogerDuMond
39 minutes ago, shadow said:

Ahh, so you have seen which visa they are on. I was just curious how you knew they were working illegally. There are many in this area here on 9g visas, and of course, anyone with a 13a is eligible for a work permit...

With a 13A, you are exempted from having to acquire a work permit,

http://www.ble.dole.gov.ph/downloads/AEP/AEP_Q&A.pdf

Edited by RogerDuMond
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newtocebu

I left Cebu about 7 years ago when I was in my early 30s and noticed then that the demographic was changing

For a long time I was the 'young bloke', but by the time I left there were plenty of them

 

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RedRanger
8 hours ago, wondersailor said:

So I guess it not just the Chinese working illegally in the Philippines.

The ones I know in your area have multiply houses in the USA and have rental income.  Specific ones is around 100K USD per year, and just turned 50.

 

Then you have the Philippines citizen who was able to join the US navy back in he day, when they allowed PI citizens to join.  My wife uncle whom is now retired has a huge house in a private subdivision in Albay region.

 

Point is you can plan your future 

 

 

 

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Maldita23

My partner is faraway from retirement age. We live in Cebu. He owns condo, car, and house & lot. And is also running his own business. 

He's been working his ass off for the last 15 years of his life to get where he is at.  He sacrificed  lots of parties and family time as well. 

When we travel, it never had to be luxurious. As long as there's sun and sweat involved then we are happy.

Based on our personal budget, our biggest expense is on food. We like good food. 

 

 

 

 

 

 

 

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Headshot
13 minutes ago, Maldita23 said:

My partner is faraway from retirement age. We live in Cebu. He owns condo, car, and house & lot. And is also running his own business. 

He's been working his ass off for the last 15 years of his life to get where he is at.  He sacrificed  lots of parties and family time as well. 

When we travel, it never had to be luxurious. As long as there's sun and sweat involved then we are happy.

Based on our personal budget, our biggest expense is on food. We like good food.

I take it that your partner is a Filipino. Otherwise he could never own a house and lot (at least not in his own name).

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Maldita23
1 hour ago, Headshot said:

I take it that your partner is a Filipino. Otherwise he could never own a house and lot (at least not in his own name).

He is  foreigner. We put the house & lot under corporation. 

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