Greetings from a newbie

[imnxpat]

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.

 

[Maurice]

Welcome.

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

 

[Sandy]

Welcome.

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

 

[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.

 

[imnxpat]

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]

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]

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.

 

[Maurice]

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.

 

[imnxpat]

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.

 

[bpp3]

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.

 

[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.

 

[bpp3]

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/forums/f28/er-uk-20931.html

 

[imnxpat]

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/forums/f28/er-uk-20931.html

Much appreciated, bpp3 (Is this a great forum, or what?)

 

[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.

 

[imnxpat]

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]

Oops. That should be "California".