Retirement In Manila

[PapaFresh]

Hi Everyone,

 

I'm a newbie here so please be nice

 

I just wanted everyone's opinion on how much money would you think you need to retire in Manila at your current age assuming that housing and transportation (a car) are already provided and paid for. Please indicate what kind of lifestyle you'd afford w/ the amount you specify.

[free2nyt]

Hmmmm, hard to say coz it depends on the lifestyle you want to have...

 

I say you will live comfortably with P50,000 per month. That should cover all your expenses like food, utilities (electricity and water), gas for autos, maid service, driver, and entertainment. You might even have extra for savings...

 

P50,000 should be enough unless you tend to overspend on any of the above especially the entertainment portion... :evil:

[UNDergroundX]

IMO 30k a month is enough for a healthy living here in the Philippines. 50k is already too much and is not even a good thing if u are retiring since its like spending a fortune a month unless you have tons of educational background and have a high paying job before like that. This forum is all about people in different walks of life not some rich guy's forum. Free2nyt u are a *****.

[Barenaked-NoMre]

This would definitely depend on how you spend money ... be it for bills, incidental expenses and unexpected out-of-pocket expenses.

 

P30K-P50K sounds about right.

 

However, you should try invest your money to ensure a "nest egg" you can drip your hands in. ;-)

[free2nyt]

IMO 30k a month is enough for a healthy living here in the Philippines. 50k is already too much and is not even a good thing if u are retiring since its like spending a fortune a month unless you have tons of educational background and have a high paying job before like that. This forum is all about people in different walks of life not some rich guy's forum. Free2nyt u are a *****.

<{POST_SNAPBACK}>

 

 

Hey Bro? Whats that ***** about??? The guy asked an opinion so I gave mine. You can also give yours and I dont care if you said P5000. Some people can live with that. I'm just telling him what I think he needs to live very comfortably here. I know 50 grand is a lot of money but sh*t, if he can afford it, why not, he is after all, retiring! This amount will give him plenty of options! Its a lot to beter to aim high so you still have room for a fall. Thats my take!

[xhalaguena]

hey dude! honestly, when i do reach retiring age, i would move out of the city to the province where everything is so much slower. but if you do plan to stay in manila to retire, then i have to ask you if you have kids or other obligations, but if you dont, then 30-50k sounds good enough, depending on the lifestyle you want to live.

[thrall]

I think 100k to 150k per month will be enough. Of course when you retire you would want to go places. Minsan ka lang mabuhay so try to experience and go to places naman. Alangan naman mag pa buryong ka sa isang sulok. If you think kulang ang income mo try to do something about it!! Dont just stay there and limit yourself!!

[PapaFresh]

Thanks for all your replies guys, keep em coming

[igol ays]

where do you live now?

how old are you?

what is your comfort level?

will you have some kind of an annuity?

will the annuity be protected from inflation?

what kind of lifestyle do you want to have?

will you have other money set aside for traveling?

have you considered medical care costs and coverage?

 

what kind of housing will you have?

will it incur homeowners association dues?

have you considered housing maintenance costs?

 

with regards to a vehicle, how old is it?

you should also consider cost of maintenance and insurance.

[igol ays]

will you have a permanent resident visa?

there are costs involved for visa extensions and depending on visa type, you may have to depart the country once a year.

[KayaK]

and one important thing to consider when retiring in the philippines?

 

HEALTH CARE COVERAGE

 

age is the key factor but even retiring early, one has to ensure that unforeseen health care issues are covered. it is common to hear pinoys in the u.s. or other countries for that matter, say that they will retire in the philippines for the rest of their years. some who did kept coming back to the states and ends up spending more months stateside that in their supposedly retirement abode in pinas. again, it's their health care concerns. in particular the retirees who opted for their home provinces rather than metro manila. of course, being retirees age 65 and over they are way beyond the prime of their health. aches and pains are common and other illnesses appear. it's a common knowledge that medical facilities in the philippines in general is, well, "third world class". kaya pag nagka aberya mas malaki ang chances siempre na maka-recover kung first rate ang medical care and management.

[RPinay]

It depends on the lifestyle...

 

Kung simple lang ang buhay mo mga 20K siguro.

Pero retirement kaya malamang medyo oldie na tayo nun kaya baka may mga additional health costs...

 

 

:mtc:

[qrich_23]

4 me advice ko mga 60k passive income per month is enuf...for anyone nid financial advice jst PM me

[wozniak]

it all depends on your current lifestyle and what you envisioned your life would be when you retire in the philippines.

if you are a simple person and dream of retiring in the province, having a small house beside a lake, go fishing everyday and just sleep, eat, sleep, eat the whole day. then 3000 pesos a month is necessary.

if you are living a luxurious life and plan to retire living like a king, then that would make it a different ball game altogether.

just think, how much you would need to retire by living a life of luxury, travelling to exotic places every week, buying a mansion or a grand beach house, buy a yacht, play golf every weekend to earn more money, in other words living the life of the rich and famous. siguro, 1000000 pesos a month is not enough.

so, think about it, what is your ideal retirement life, get the current price of your retirement lifestyle and estimate the appreciation by how many years you need before reaching that age and that's it.

 

hope i did not confuse you more. good luck and enjoy your life.

[Touching_drip]

Thinking of retiring in Manila too and already acquired a house and lot. Now there is only one problem or make that two, as mention by our fellow posters, I would need to save up oodles and oodles of bucks for my unforseen medical expenses, not to mention that my superannuation would be stop as soon as I left this foreign country after 6 months, so this is a real dilemma for me.