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Retirement In Manila


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To earn 50,000 a month (600,000 a year)

from a time deposit that pays 6.00% net

you must deposit

ten million pesos (10,000,000).

 

 

10,000,000 times 6.00% = 600,000 a year

 

 

What do you guys think?

 

if you want to play it safe, that's the way to go however sayang ang 10m if you only park it in a bank. you may want to consider putting some in time deposit and investing some in mutual funds. riskier but returns are better

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  • 4 weeks later...
Shipmate,

How's life treating you over there in PI? How's school? Does GI bill enough to covers everything-from tuition to rent etc. Anyways goodluck enjoy the fruits of your labor.

 

 

ok lang shipmate, except for the manila traffic, everything si terrific, actually im staying at my brother's townhouse so wala na akong problema sa rent since nasa london utol ko solo ko house nya, my tuition fee is not that expensive 18k for the whole semester, actually pag mag isa ka lang sobra sobra gi bill, im saving atleast half of what Im getting,

 

eto expenses ko every month:

 

tuition-2,500

water, electricity, internet-2,500

food-5,000

gas fo car-4,000

school allowance-6,000

pangimik/pangchichik- 10,000

 

total of 30,000 a month and take not bro kalahati lang ng gi bill yan, yung kalahati napupunta sa savings ko....

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Retiring in Manila is asking for trouble, in addition to high house rent, you have to deal with health problems caused by pollution. What are your other alternatives? I suggest that you check out other places that can give you cheap and easy access to fresh fruits & vegetable, & clean air. You definitely wouldn't want to spend the rest of your life going to doctors every week.

Edited by johnlove
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  • 1 month later...
Retiring in Manila is asking for trouble, in addition to high house rent, you have to deal with health problems caused by pollution. What are your other alternatives? I suggest that you check out other places that can give you cheap and easy access to fresh fruits & vegetable, & clean air. You definitely wouldn't want to spend the rest of your life going to doctors every week.

 

spent a week in baguio last year and witnessed a bunch of foreign retirees having bfast at a local cafe-resto along session...seemed to me they were having fun living comfortably & spending the rest of their lives breathing clean air in this pine city.

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  • 2 weeks later...
To earn 50,000 a month (600,000 a year)

from a time deposit that pays 6.00% net

you must deposit

ten million pesos (10,000,000).

 

 

10,000,000 times 6.00% = 600,000 a year

 

 

What do you guys think?

 

i think a more conservative figure would be 4% withdrawal from your principle. this way your original investment will continue to grow with inflation and you do not exhaust you nestegg.

 

g

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i spend about 150,000 pesoses per month

single

live in fort boni condo (which is paid for)

 

hello eagleyes:

 

you are in the exact position i want to be in when in by 2015 (i will be 45); i have a condo in two serendra section d as well; so we will be nieghbors sorta (turnover march 2010) that is also paid in full. i just returned from manila last week and am quite happy with the progress of serendra and fbgc.

 

i would like to have an active lifestyle when i am in manila. of the P150 what is the breakdown for normal fixed living expenses outside of gimics........example: electric, cable, hoa, food, transportation, etc.

 

thank you and congratulations. i have something to aspire to now.

 

george

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hello eagleyes:

 

you are in the exact position i want to be in when in by 2015 (i will be 45); i have a condo in two serendra section d as well; so we will be nieghbors sorta (turnover march 2010) that is also paid in full. i just returned from manila last week and am quite happy with the progress of serendra and fbgc.

 

i would like to have an active lifestyle when i am in manila. of the P150 what is the breakdown for normal fixed living expenses outside of gimics........example: electric, cable, hoa, food, transportation, etc.

 

thank you and congratulations. i have something to aspire to now.

 

george

 

electric - if you're running your A/C most of the time, figure on spending 10K and up

cable tv - sky cable has a decent plan for 1K per month

hoa - figure on P100/sqm per month for serendra

gas - just as expensive as stateside. your cost will depend on how much you drive

car insurance - full coverage, about 35K to 40K per year

food - cheaper if you cook; if not, you'll easily spend 1K per day

cell phone - you'll probably use up about P4K of load per month if you talk as much as text

water - depending on use; perhaps 1K or more

 

health/dental care

clothing

internet

vacations

land line

gimiks

misc

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electric - if you're running your A/C most of the time, figure on spending 10K and up

cable tv - sky cable has a decent plan for 1K per month

hoa - figure on P100/sqm per month for serendra

gas - just as expensive as stateside. your cost will depend on how much you drive

car insurance - full coverage, about 35K to 40K per year

food - cheaper if you cook; if not, you'll easily spend 1K per day

cell phone - you'll probably use up about P4K of load per month if you talk as much as text

water - depending on use; perhaps 1K or more

 

health/dental care

clothing

internet

vacations

land line

gimiks

misc

 

thanks for sharing! much appreciated!

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  • 1 month later...

I grew up in Baguio and I agree that it's not a bad place to retire for balikbayan and so on. Having a car is not a necessity unless you live in the outer edges of town. Entertaiment can be a problem since it is mostly tailored to cater to the younger crowd. 40 to 50k a month is more than enough to cover expenses for a couple.

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  • 3 weeks later...

It depends on your life style. I would use the last salary you will have before you retire adding 8% every year for inflation. To prepare for it, you have to start setting up your retirement fund to provide for your current income. After 3 years, recompute for changes and fill in any Gap in your fund, do not relay only on government or company provided retirement fund. It might also be wise to invest in other currency to lessen the impact of inflations. This can be done by foreign denominated mutual funds. Just remember that your retirements funds should be long term and do not touch it.

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Ngayong tumaas na lahat ng bilihin at ang dollar ay bumaba ang buying power..tanong mga kapatid. na nag re rely sa dollar...is it still feasible na mag retire sa pilipinas given the current situation at ano ang dapat gawin para ma offset ito..

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  • 2 weeks later...

mawalang galang po, isa sa mga friends ko, yung 1st GI bill enought for the whole year and some, so the rest pinag-pagawa nang bahay for the next 3 years of the school time. Some good products after 20 some BS! he, he, he ba pwede pa pala kayong mag-medicine!

 

Tama din po yung control sa vices, 50,000 can easily burn up.

 

Cebu seems to be a nice place, yung accent nang mga Cebuana... aaay naka-i-inlove. (walang hihirit dyan!) d food was cheap too!

 

Yung asawa nang kamaganak ko, puti may bar sa Clark, sitting preatty lang.

 

some fyi lang po.

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retirement is the same as unemployment hahaha.... kaya ngayon pa lang alamin nyo na kung paano gagawin nyo kung wala na kayong malalaking suweldo ...yan ang tutoo kasi dami ko nakitang nag retire may pera di naman alam kung ano gagawin ayun sandali lang ubos na ..ano naman aasahan nila sa SSS at GSIS .

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Even if retirement is a loooong time away for me, I think we should all view it as a chance for taking on your 2nd career or something you are passionate about. Yun bang mageenjoy ka na lang sa gagawin mo for the rest of your life.

 

Assuming next to zero liabilities, I think I'd be content with around 60K/mo. passive income if I was to retire today. I'd be living the simple life lang naman.

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  • 3 weeks later...

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