Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Life is a Beach after retirement
Old 06-24-2012, 01:30 PM   #1
Confused about dryer sheets
Paris's Avatar
 
Join Date: Jun 2012
Location: Old town
Posts: 1
Life is a Beach after retirement

Hi All,

Anyone considering living in the Philippines? I was offered a beach property in an island of Panglao, Bohol. It is approximately 50 feet to the beach with a total area of 1,080 sqr.meter. I can lease it for up to 50 years or buy it. There are few resorts in the surrounding area mostly owned by europeans and americans. If I retire there, I would need an annual income of at least $2,500 in order to live like a queen.[mod edit]

I am currently residing in the U.S. but have no 401k, social security, or pension plan that i look forward to but I do have a stocks as my retirement - I was a day trader as my primary job. My monthly expenses are my home mortgage $660 per month and my 5 cats wellbeing $400 per month. Certainly, i'm not looking forward to buying them a car nor send them to college - they're genius enough. Further, I've traveled in asia and do volunteer to save homeless animals and wish to continue for the rest of my life.
__________________

__________________
Paris 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 06-24-2012, 06:16 PM   #2
Recycles dryer sheets
Semiretired2008's Avatar
 
Join Date: Jun 2012
Location: Central Ga
Posts: 230
I am not trying to disallusion you, but you would need a lot more than $2500 a year to retire in the Philippines. A minimal existence - no AC, no satellite TV, no Internet (except at the local internet cafe's), no traveling in country, etc. would be your life style if you tried to live there even on $6000 a year. You also have to budget for your annual required departures (if you are Balkbayan priviledged - more often if you are not) so you have airfare and travel costs associated with that to also contend with. If you believe that you can live on Filipino (poverty level) standards then maybe you could survive, but I hope you like counting cars as they pass down the road because that will be the high light of your day...

I have spent years in the Philippines - look at my Avatar - that is where the pic is from and plan on spending my winters there and my budget just for the winters is more that you are quoting for a year...
__________________

__________________
If you want someone to believe in you - First you have to believe in yourself and then you go from there...
Semiretired2008 is offline   Reply With Quote
Old 06-24-2012, 06:30 PM   #3
Recycles dryer sheets
Semiretired2008's Avatar
 
Join Date: Jun 2012
Location: Central Ga
Posts: 230
There are a lot of Retiring in the Philippine Forums you could join and read up on before you attempt to spend to much time on this plan. Are you married to a Filipina? Have you ever traveled there?

Foreigners are considered rich no matter what - even the poor ones...
__________________
If you want someone to believe in you - First you have to believe in yourself and then you go from there...
Semiretired2008 is offline   Reply With Quote
Old 06-25-2012, 09:08 PM   #4
Recycles dryer sheets
 
Join Date: Jun 2005
Posts: 126
I'm also (semi-) retired and have been living in the Philippines for about a year and I also think it would be (nearly) impossible to live here decently on $2500/year -- that's just about the median per capita income for the Philippines and this is a POOR country. Call center workers in the Philippines (generally young adults living in dorms) make around $5-10,000/year and housekeepers in Manila get around $2-4,000 PLUS room and board.

It should be possible to live fairly well in the provinces for $10,000/year or so, but the infrastructure in the provinces can be pretty limited (bad roads, intermittent electricity, no restaurants, limited medical care, poor transport (by "tricycle" and "jeepney"), lots of hurricanes and floods, and a fair amount of violent crime. I'd certainly try it out first!

It's also my understanding that while foreigners can own condos here, it's illegal for foreigners to own property or buy houses -- so I'd be careful of any deals....)

Otherwise, the Philippines is a wonderful country with friendly (and often English speaking) locals where one can find a reasonably priced tropical paradise!

Good luck!!!
__________________
jerryo is offline   Reply With Quote
Reply

Tags
asia, beaches, travel around world, volunteer animal shelter


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


 

 
All times are GMT -6. The time now is 05:18 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.