Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Greetings from a newbie
Old 11-12-2007, 01:44 AM   #1
Recycles dryer sheets
 
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
Send a message via Skype™ to imnxpat
Greetings from a newbie

Hi everyone,

This is my first entry on this forum. My wife Lydia and I spent our working lives in California. In 2005 we retired and relocated to the Philippines, Lydia's native land. We're enjoying life here although our budget has been impacted over the past several months by the dollar devaluation.

Anyway, I look forward to an exchange of ideas on this forum as we are always looking for ways to improve our life in retirement and in turn offer advice based on our experiences in reaching this stage of life.
__________________

__________________
imnxpat is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-12-2007, 03:14 AM   #2
Full time employment: Posting here.
 
Join Date: Oct 2007
Location: New York
Posts: 898
Welcome.

Just curious, what percentage of your portfolio is non-USD denominated?
__________________

__________________
Money's just something you need in case you don't die tomorrow.
Maurice is offline   Reply With Quote
Old 11-12-2007, 06:47 AM   #3
Full time employment: Posting here.
Sandy's Avatar
 
Join Date: Dec 2006
Location: Florida
Posts: 855
Welcome.

We have other contributors who have relocated to less expensive overseas locations. We look foreward to your contributions.
__________________
I would not have anyone adopt my mode of living...but I would have each one be very careful to find out and pursue his own way, and not his father's or his mother's or his neighbor's instead. Thoreau, Walden
Sandy is offline   Reply With Quote
Old 11-12-2007, 12:16 PM   #4
Moderator
bssc's Avatar
 
Join Date: Dec 2005
Posts: 9,929
Mabuhay and welcome

Philippines is a nice place and was cost effective, sorry to hear about being impacted by the dollar drop. Where are you any way.
__________________
Angels danced on the day that you were born.
bssc is offline   Reply With Quote
Old 11-13-2007, 02:06 AM   #5
Recycles dryer sheets
 
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
Send a message via Skype™ to imnxpat
Quote:
Originally Posted by Maurice View Post
Welcome.

Just curious, what percentage of your portfolio is non-USD denominated?

A very small percentage, but that is subject to change if the mutual funds here outperform those in the U.S.
__________________
imnxpat is offline   Reply With Quote
Old 11-13-2007, 02:07 AM   #6
Recycles dryer sheets
 
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
Send a message via Skype™ to imnxpat
Quote:
Originally Posted by Sandy View Post
Welcome.

We have other contributors who have relocated to less expensive overseas locations. We look foreward to your contributions.

Thank you. I will do my best.
__________________
imnxpat is offline   Reply With Quote
Old 11-13-2007, 02:11 AM   #7
Recycles dryer sheets
 
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
Send a message via Skype™ to imnxpat
Quote:
Originally Posted by bssc View Post
Mabuhay and welcome

Philippines is a nice place and was cost effective, sorry to hear about being impacted by the dollar drop. Where are you any way.
Salamat,

We reside in Eastwood City, an enclave in Libis, Quezon City. The community is a mix of condos, call centers, and entertainment venues.
__________________
imnxpat is offline   Reply With Quote
Old 11-13-2007, 07:32 AM   #8
Full time employment: Posting here.
 
Join Date: Oct 2007
Location: New York
Posts: 898
Quote:
Originally Posted by imnxpat View Post
A very small percentage, but that is subject to change if the mutual funds here outperform those in the U.S.

I would recommend you put a greater percentage in index funds denominated in other G7 currencies rather than PHP. You need to protect yourself against falls in the dollar without taking on too much risk in one currency, especially an EM currency.
__________________
Money's just something you need in case you don't die tomorrow.
Maurice is offline   Reply With Quote
Old 11-14-2007, 01:50 AM   #9
Recycles dryer sheets
 
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
Send a message via Skype™ to imnxpat
Quote:
Originally Posted by Maurice View Post
I would recommend you put a greater percentage in index funds denominated in other G7 currencies rather than PHP. You need to protect yourself against falls in the dollar without taking on too much risk in one currency, especially an EM currency.

That is something I will definitely consider as I want to hedge against currency fluctuations. I only have a small amount to invest and just recently bought into a local mutual fund.

What I enjoy the flexibility of having my social security automatically deposited into my U.S. checking account (in USD of course) to which I have on line access and from which I withdraw cash in PHP as needed from the local ATM's. In turn I can take some of that PHP and open a time deposit and/or regular checking account.
__________________
imnxpat is offline   Reply With Quote
Old 11-14-2007, 03:59 AM   #10
Recycles dryer sheets
 
Join Date: May 2007
Posts: 290
Quote:
Originally Posted by imnxpat View Post
I only have a small amount to invest and just recently bought into a local mutual fund.

Are you a US citizen or green card holder? If so, be aware that US taxes on non-US-registered mutual funds are generally horrendous.
__________________
bpp3 is offline   Reply With Quote
Old 11-15-2007, 01:13 AM   #11
Recycles dryer sheets
 
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
Send a message via Skype™ to imnxpat
I am a U.S. citizen but I would expect that any U.S. taxes would be offset by taxes levied by the Philippines BIR (Bureau of Internal Revenue). Moreover, in either case the amount involved is peanuts.
__________________
imnxpat is offline   Reply With Quote
Old 11-15-2007, 02:27 AM   #12
Recycles dryer sheets
 
Join Date: May 2007
Posts: 290
Quote:
Originally Posted by imnxpat View Post
I am a U.S. citizen but I would expect that any U.S. taxes would be offset by taxes levied by the Philippines BIR (Bureau of Internal Revenue). Moreover, in either case the amount involved is peanuts.
The paperwork can be a bear, though, if you are not careful. You might want to Google up "PFIC," and/or have a glance at the following thread to get an idea of what's involved:
http://www.early-retirement.org/foru...-uk-20931.html
__________________
bpp3 is offline   Reply With Quote
Old 11-15-2007, 09:05 PM   #13
Recycles dryer sheets
 
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
Send a message via Skype™ to imnxpat
Quote:
Originally Posted by bpp3 View Post
The paperwork can be a bear, though, if you are not careful. You might want to Google up "PFIC," and/or have a glance at the following thread to get an idea of what's involved:
http://www.early-retirement.org/foru...-uk-20931.html

Much appreciated, bpp3 (Is this a great forum, or what?)
__________________
imnxpat is offline   Reply With Quote
Old 11-15-2007, 09:19 PM   #14
Dryer sheet wannabe
 
Join Date: Oct 2007
Posts: 12
Welcome.

My wife and I are from the Phils. We came to US in 1980 and I just retired 3 years ago. I'm thinking of spending more time in the Phil soon. I stay in with my sister in Cainta whenever I go there. Good luck and let us know how it goes for you and your wife.
__________________
camefromnothing is offline   Reply With Quote
Old 11-16-2007, 12:09 AM   #15
Recycles dryer sheets
 
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
Send a message via Skype™ to imnxpat
Quote:
Originally Posted by camefromnothing View Post
Welcome.

My wife and I are from the Phils. We came to US in 1980 and I just retired 3 years ago. I'm thinking of spending more time in the Phil soon. I stay in with my sister in Cainta whenever I go there. Good luck and let us know how it goes for you and your wife.

Thank you camefrom nothing. It so happens that my wife was in Cainta yesterday (She also has family members there). Life is agreeable w/us here so far. As much as we enjoyed our place in Califoarnia, there's no way that we could have retired there. At least in the Phils. we are able to get by modestly but comfortably on our social security.
__________________
imnxpat is offline   Reply With Quote
Old 11-16-2007, 08:50 PM   #16
Recycles dryer sheets
 
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
Send a message via Skype™ to imnxpat
Oops. That should be "California".
__________________

__________________
imnxpat is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Another Newbie loriemae Hi, I am... 4 11-05-2007 09:25 AM
Newbie! dylan8678 Young Dreamers 5 04-14-2007 04:53 PM
Newbie Sock_It_Away Hi, I am... 1 03-26-2004 12:01 PM
another newbie lb Hi, I am... 5 02-23-2004 08:17 AM
Re: Another $#@^%# newbie! unclemick Hi, I am... 0 12-23-2003 03:00 PM

 

 
All times are GMT -6. The time now is 08:15 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.