Retirement In Manila

[scotty2hotty]

How would one retire in Boracay?? Any ideas?

[Jackdripah]

Better kung may business ka that works before retiring ryt?

[igol ays]

been reading a lot of comments about owning a business (even a small one) and being retired

folks, it's NOT retirement if you have to run a business

[Baboymaniac]

If it cost as much as dollars to retire in manila why bother going there. I wont get to enjoy my freedom and healthcare there as an old person.

[kadafy]

^ seafood here is cheaper.

[cyrus08]

siguro enough na yung 5M. business lang at wag masyadong maluho

[martinace1]

The big question on retirement is when will enough be enough?

[jermitano]

wag ka sa manila mag retire...go provincial...

[manilakano]

give me 5000$ per month and i retire today!!!!

[tints97]

ei, guys... somebody sent me this email and i find it very interesting and very helpful... :thumbsupsmiley: :mtc:

 

Asset or Liability

 

THE BASICS OF CASH FLOW[/size]

There are those who e-mailed me asking about the basics of cash flow. I'm really sorry that I assumed everybody already understands it. Anyway, by demand ... here it goes...

 

May isang bata... joke lang.

 

The basic is. What pattern do you see if you will get a P100.00 bill and monitor where and how it is transferred from 1 possessor to the other? How does it flow? The pattern for a typical Pinoy is. You earn from your work, you spend it on food, gadgets, clothing and other basic needs. Before you reach the next payday, paubos na yung pera mo. But that's ok payday is just a few days ahead and it doesn't matter if I run out of money, I am expecting money again any time soon.

 

This cycle goes on and on and you make some sidelines or create other ways to earn but it seems that money was never enough. (I am tempted to explain further pero usapan... basics lang).

 

So you can't leave the job that you have because a week without work would affect the cash flow you have to support your family and needs. As much as you wanted to accept another job, the gap would make you pay less for a couple of days, which makes you a slave to your boss.

 

At least, you have a job to support your needs.

 

So to illustrate.. .Cash is flowing inside your pocket.

 

Years have gone by doing your monotonous routine.

 

Question... what if you get fired? Or you were forced to retire because there are new and younger people ready to take your place. What would you do?

As an OFW, Makati Executive, Top Salesman, Engineer, Attorney, Teacher, etc... What if it all ends? The sweet cash that enters your pocket every 15 th and 30th suddenly comes to a halt.

 

There are two things you can buy with your money... An asset and a liability. To describe each... An asset brings money inside your pocket; a liability takes money out of your pocket. Another way to see, it is that an asset if you buy one, will bring the money you spent for it back to you 2 or 3 folds. A liability, when you buy it will not give your money back at all.

 

Sa ilocano... idjay ti kwa... djak maawatan... (joke lang po, seryoso na kayo eh...)

 

Sa madaling salita... kapag asset, maibabalik ang pera , pag liability, goodbye sa pera...

 

Ang problema kay JUAN DE LA CRUZ, habang may trabaho ipon ng ipon at bili ng bili ng liability!

 

I have seen OFWs get back to the country with gold chains at kung pwede lang limang shades ang isuot ng sabay-sabay gagawin nya eh... dvd, component, jackets, clothes, inuman, pulutan, party, pabango... hindi na makalakad sa dami ng bitbit...

 

At s'yempre mga empleyado natin dito sa bansa na lingo-lingo bago cell phone at mags ng kotse.. hindi na nga magkasya ang damit sa aparador, tapos pag umaga sasabihin... . wala na akong maisuot.

 

Guys, esep-esep... what you bought... will it bring money back to you? I know what you have in mind... you have to enjoy what you worked hard for. That's right, but think of something that will last... think of your future.

 

I have seen the worst of people who were abogado de kampanilya, executive secretaries of top rank business men, people who worked for big companies, earned a fortune and got a big retirement pay by the millions... Now.... Wala na.

 

Why? Because of their cash flow... went in... went out.

 

I need not to mention basketball players, actors, singers, etc... Check what is their career path... next after acting, singing and playing... POLITICS. Kasi, 'yung million na kinita nila, puro liability ang binili.

 

Going back... all the liability they bought, ibinenta ng mura! I'm wearing a gold chain now, which I got from a seaman... he bought it for P35,000 and sold it for 8,000 to me. Hindi po asset ang alahas! Bakit? Totoo na tumataas ang value n'ya pero kapag gutom ka na, kahit palugi ibebenta mo! (wala bang aaray?) Cell phones... dvd players etc. pati bahay at kotse... that's the cash flow of most OFWs...

 

The question is ... "WHAT IF THE INCOME STOPS?"

 

Sa Pinoy, ganito: anak... mag-aral kang maigi, at pag tanda namin... ikaw na bahala sa amin ha.... Hindi po ba maling-mali. ..

 

You have to establish something today that will take care of your future.

 

Teka, teka... eh ano ang dapat gawin para hindi mangyari yan?

 

You must create a source of income that will continually make money flow inside your pocket. Start a business! While you are working as an executive or an OFW, or a professional. .. START A BUSINESS and MASTER that business till you get out of that company. Para kapag tumigil ang income mo sa kanila... may susuporta pa din sa iyo hanggang pag-tanda mo!

 

Now don't tell me to invest my money on pensions and plans... NO WAY ! Narinig n'yo na siguro yung .... Naku ayaw ko na magbanggit.. .. 'yung mga nagbayad at hindi nakapag-claim. .. sila pa ang dinimanda at nag-piyansa! !! HUWAG MO I-ASA ANG PAG TAN DA MO SA IBA! GUMAWA KA NG SARILI MONG BALON NG PERA! KAHIT MALIIT PA 'YAN, SARILI MO AT HINDI KA AASA SA IBANG TAO...

 

Imagine yourself when you reach an older age... (aruy ko,,, baka yung iba sa inyo about that age... tabi tabi po...Ako po sa mga nagtatanong. .. I'm 37 years old. Naabutan ko pa si Michael Jackson at hinele po ako ng nanay ko sa mga kanta ng hagibis...). You have money that the company gave you as your retirement pay... what will you do?

 

You can consume the money till your old... eh kung hindi umabot? Masamang damo ka pala... at hindi ka kaagad kinuha ni Lord. Eh pang age 65 lang yung naipon mo na budget.

 

Or maybe, you can start a business and use the money for capital... Kapatid... 9 out of 10 businesses, FAILED... yung isang magsa-succeed, gagayahin pa ng kapitbahay mo instead na mag-franchise sa 'yo... think! At age 50, you are struggling trying to make a business work! What if it fails?!

 

Eh ano nga ba ang sagot?

 

The answer is, stop buying liabilities and instead buy assets now. I don't care if it is a banana-Q store, balot, ice candy or a sari-sari store, etc... start now! Because, your experience here will teach you what to do in the future. It's so hard to struggle in business when you are 60 yrs old.

 

You have to create a source of income separated from the source of income from your work. That when the time comes that you have to stop working, you will have your own source of money! Create assets, start a business that will be there to support you and your family. I AM NOT TELLING YOU TO QUIT YOUR JOB! I'm telling you to start a business while you're working and stop spending your money on liabilities and start putting them on assets!

 

Ang pera kapag pinambili mo ng LIABILITY... hindi na babalik... ang ASSET... BABALIK.

 

Teka... masama ba bumili ng mga magagandang gamit? Hindi! Siguraduhin mo lang na ang pambili mo nun ay galing sa asset mo. The business has to be prioritized! Mawalan ka man ng trabaho, may negosyo kang palalaguin.

 

If before, nabubuhay ka naman ng iisa sapatos mo, huwag mo baguhin 'yun... dati, nagdyi-jeep ka lang... 'wag ka na munang mag-FX...

Create assets and lessen liabilities. Invest and learn now... mag-negosyo!

 

Eh anong negosyo? Any, as long as you think it is work and doable! I am still looking for partners for my HOME MASSAGE SERVICE! SPA MAGIC! And my business CAR MAGIC is still franchising. .. (joke lang ... baka sabihin nyo nag pro-promote lang ako eh...But I AM PROUD TO SAY THAT ALL MY BUSINESSES ARE ORIGINAL AND ALL ARE GRAND ASSETS!

 

I started all my businesses with a very small capital. If I used that money to buy a gadget, new shoes or any liability... baka wala lahat ng negosyo ko at wala na akong makain ngayon.

 

Again, I hope that this BASIC CASH FLOW article helps.... I wish all of us become financially free!

 

FROM UNKNOWN AUTHOR

[mnlbay45]

good insight... on the contrary, bahay? real estate? depende sa condition. Kung rental at covered ang expense, okay? Pero kung napasabay sa ARM at bagsak ang property, katay! :grr:

 

 

ei, guys... somebody sent me this email and i find it very interesting and very helpful... :thumbsupsmiley: :mtc:

[ladysman217]

about ten million PHP to earn php100,000 a month in compounding interest.

[naughty_boy99]

^^

 

i agree. siguro at 100T a month passive income would be acceptable

 

^^

 

i agree. siguro at 100T a month passive income would be acceptable

[Vegasboy32]

malaking pera siguro mga P40 million ok na ok ka na tapos pensionado ka pa abroad. mas lalong ok.

[ragstoriches]

assuming i have no debt when i reach 61, i am ok with Php50,000 per month.

 

I see myself retiring at 55, graduate na kids. i will then sell my MET condo and buy one in Bangkok then start me a small business and 2 young, gorgeous, lascivious girlfriends who will help me in the work and workouts.

[mark_pogi]

in 30-35 year pa ako magreretire.

 

i hope makaipon din ako ng malaki granting i would have 3-5 kids.

 

retiring in Manila is good but considering the expenses and pollution, i would prefer to retire in the province.

[lego]

If sa Province - 2 - 3 M siguro Oks na ..

pag sa Manila - mga 5M atleast ..

[daysleeper]

- A business that brings in a steady income plus at least 10M in time deposit (liquid asset na rin in times of emergency).

- Sariling bahay para iwas sa rent, and a car for mobility.

- Health and property insurance, since a single bout of misfortune could make you lose your fortune instantly.

[jun dela cruz]

40M with a business that brings in 100-150k/month income is already fine in manila...otherwise nakkatakot mag retire...maconfine alone sa st lukes will run in the thousands na!

[Chi-Chi]

 

Haha napaka exagge naman ng iba dito. are u gonna buy a house every 3 years or something. Remember if you retire by 65, you got THE MOST 30 yrs to live lalo na u live in a polluted city like manila...ookay maybe more sa iba, pero majority less than 30 talaga.

 

anyway, IMO, mga 10 mill in the bank term deposited, tapos business that brings in around 60k a month okay na. ung iba dito parang kala mo ayala zobel OA nio relax naman kayo sa amounts! hehe

 

 

[bizzboll]

40M with a business that brings in 100-150k/month income is already fine in manila...otherwise nakkatakot mag retire...maconfine alone sa st lukes will run in the thousands na!

 

damn dude that's way too much unless you are gonna live the life of the fabs and elite, you don't need that much money to retire...

[jun dela cruz]

I know a number of people living in makati, most of whom are senior citizens, losing a cool $1M or so in the US stockmarket...yun nga lang they no longer have those millions for retierment but it used to be a reality for these people...aim for the stars and if you fall, you fall on the roof, not the ground hehe

[MRROUGHSEX]

Several assumptions need to be taken into account to make the postings here comparable.

 

According to definition, "retire" means to stop from work. That to me means any self-businesses that you have have to "work" for to manage means not retirement. It's simply a change in business ownership whereas before you work for someone else but now you work for your own. But it is still work and you are not yet retired.

 

All that to say, the amount one has saved must be enough to sustain one's self upon retirement. Chi mentioned a very good estimate of 30 years of longevity after the legal retirement age of 65.

 

Of course, another assumption one has to make here is what base year the retirement will come. Obviously if a person posting here is 65 years old, then his retirement amount will be based on today's current prices. But a kid posting here may be looking at 35 year's prices down the road. Ergo, it is very possible that someone's Php10M and another's Php40M may be equal if they were converted to the same base year.

 

Another assumption should be that one's retirement amount is exclusive of outstanding debts. This is because an amount of Php10M without debt and an amount of Php40M with Php30M debt is the same.

 

So the question is, excluding debts, how much would you need to sustain yourself for 30 years if you were to retire using base year 2009 prices ?

 

My answer to this is Php10M.

[Vegasboy32]

Just retired don't work there again.

[Naranggerel]

you need a lot... pangit ang pension dito sa atin... kaya di ma-enjoy ng matatanda ang buhay nila unlike s aibang bansa na bakasyon lng ng bakasyon...