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11-12-2007, 12:44 AM
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#1
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Recycles dryer sheets
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
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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.
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11-12-2007, 02:14 AM
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#2
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Full time employment: Posting here.
Join Date: Oct 2007
Location: New York
Posts: 898
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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.
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11-12-2007, 05:47 AM
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#3
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Full time employment: Posting here.
Join Date: Dec 2006
Location: Florida
Posts: 854
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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
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11-12-2007, 11:16 AM
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#4
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Moderator Emeritus
Join Date: Dec 2005
Posts: 10,125
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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.
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11-13-2007, 01:06 AM
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#5
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Recycles dryer sheets
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
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 Quote:
Originally Posted by Maurice
Welcome.
Just curious, what percentage of your portfolio is non-USD denominated?
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A very small percentage, but that is subject to change if the mutual funds here outperform those in the U.S.
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11-13-2007, 01:07 AM
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#6
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Recycles dryer sheets
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
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Quote:
Originally Posted by Sandy
Welcome.
We have other contributors who have relocated to less expensive overseas locations. We look foreward to your contributions.
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Thank you. I will do my best.
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11-13-2007, 01:11 AM
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#7
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Recycles dryer sheets
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
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Quote:
Originally Posted by bssc
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.
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Salamat,
We reside in Eastwood City, an enclave in Libis, Quezon City. The community is a mix of condos, call centers, and entertainment venues.
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11-13-2007, 06:32 AM
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#8
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Full time employment: Posting here.
Join Date: Oct 2007
Location: New York
Posts: 898
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Quote:
Originally Posted by imnxpat
A very small percentage, but that is subject to change if the mutual funds here outperform those in the U.S.
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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.
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11-14-2007, 12:50 AM
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#9
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Recycles dryer sheets
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
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Quote:
Originally Posted by Maurice
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.
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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.
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11-14-2007, 02:59 AM
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#10
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Recycles dryer sheets
Join Date: May 2007
Posts: 290
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Quote:
Originally Posted by imnxpat
I only have a small amount to invest and just recently bought into a local mutual fund.
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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.
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11-15-2007, 12:13 AM
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#11
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Recycles dryer sheets
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
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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.
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11-15-2007, 01:27 AM
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#12
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Recycles dryer sheets
Join Date: May 2007
Posts: 290
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Quote:
Originally Posted by 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.
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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
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11-15-2007, 08:05 PM
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#13
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Recycles dryer sheets
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
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Quote:
Originally Posted by bpp3
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Much appreciated, bpp3 (Is this a great forum, or what?)
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11-15-2007, 08:19 PM
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#14
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Dryer sheet wannabe
Join Date: Oct 2007
Posts: 12
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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.
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11-15-2007, 11:09 PM
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#15
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Recycles dryer sheets
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
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Quote:
Originally Posted by camefromnothing
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.
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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.
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11-16-2007, 07:50 PM
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#16
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Recycles dryer sheets
Join Date: Nov 2007
Location: Quezon City, Philippines
Posts: 91
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Oops. That should be "California".
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