Author: Reekay V.
Since 2012 I’ve been traveling through various islands of the Philippines as a full-time Expat and spent 1999 living in Vietnam.
Share with me my ongoing adventures of life in the Philippines. Hopefully you find my observations helpful in your own adventures.
— Reekay
— The Only Filipina Dating Site I recommend.. https://bit.ly/christian-filipina-dating
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— How I send Money to the Philippines.. https://remit.ly/1amhoix
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Love the video IT here with 20 + years fixing computer is my jam
Great advice here especially for those that are still working. I encourage any man who had to sell off his home in order to settle a divorce to travel overseas and experience life outside the US. Many of the expats I meet have the same story, once there’s nothing holding you to the US like a job and family there’s no reason not to entertain the idea of retiring overseas
Reekay,
You hit it fair and square.
English is spoken in the Philippines.
That is, I think the only real plus side in living in the Philippines.
Because the overall cost of living is very expensive in the Philippines compared to Thailand or Vietnam and I will add Malaysia and Indonesia.
And it’s not simply the price of goods, it’s the quality, reliability and dependability of utilities and infrastructures.
The Philippines has an inconsistent, almost schizophrenic quality in terms of utilities and infrastructures.
Personally, language should no longer be a big barrier because there are so many outstanding translator apps that are free, like Google Translate and so many outstanding pocket translator devices that you can buy now that the language barrier issue becomes secondary or even irrelevant.
In the end it all boils down to the vibes that the place gives to you.
But if your budget is around 2K dollars or less and you want to live around Southeast Asia and want the biggest and best bang for your money, I will settle in Thailand, Malaysia, Vietnam or Indonesia.
Philippines will be my last choice.
Very informative upload .
Thanks!
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
I retired at age 53 and am now in my early 60s. Many people resisted me because they couldn’t understand the idea of not working if you don’t have to. I considered my life to be in phases. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to “stop and smell the roses.” After I retired, I left the nation and now reside in Latin America. I was able to enjoy my new surroundings and escape from all the bad things that were going on in America. I haven’t yet encountered anyone who laments their retirement.
Retired US Navy Ranger Airborne, FBA SPECIAL AGENT retired and Federal Government Secret Agent, just recently retired 65 Yo . 3 US Government GOLDERN Pensions. My 5 homes are all fully paid off and my 3 grown children are all highly successful professionals (Specialist Doctors). I plan to live in the Philippines 6 months of the year and my apartment in Manhatton the other 6 months of the year. I am in a supper great financial shape for my future Retirment. And I haven’t even got my multimillion-dollar inheritance yet from my 95 Yō mums. Dan
after 9 yrs I have had enough with this screwed up culture. Filipino culture is the most disrespectful and dirty culture.
Reekay on the begging of this video in the upper LH corner there was a disclaimer that said: Altered or synthetic content. Was that YouTubes way of saying that the pictures are artwork?…LOL
I’m 39 years old, recently laid off, and in a new phase of my life. What are my best options for steady income given that I have 425K saved for retirement, 10K in an HSA, and a property that might bring in an additional 200K?
Can you share/post the info you got on Argentina?
(“Good food, good weather, … and “affordable”.)
Well done.
Thanks for making.
***
Americans can make money teaching/tutoring English, right? (And I bet it’s appreciated in the Philippines.)
Me and my filippino own all we have ,only payment is a new refridgerator . I don’t have credit and don’t want it .
I don’t know enof about inflation to argue your point. I am aware of fewer and fewer (large) companies are controlling entire industries. with little or no competition,, surprise, surprise. prices keep going up.
Golden advice, Reekay! If I had only one piece of advice for younger men is to do what you say and also try to set up multiple international streams of Western income that you can work from anywhere. I say multiple, so you never have to fear one drying up and then being stuck in a 9-to-5 grind. Try to get several different passports and consider ditching your original citizenship if it is a nation that taxes you worldwide. The younger you are when you do this, the easier it is. By the time you are in your 40s, you’re likely already tied to the medical/civil retirement system there and locked in.
I advise people, especially young people, to start controlling their budget to lower their living expenses and to start investing in the stock market. A few years back I started investing in high-yield dividend stocks paying monthly dividends of about 1% per month (12% annually) without requiring much work or my time. Then a year ago started adding stock options trading & earning about 3.5% per month (sometime more) from that with a goal of earning $1000/month to add to my retirement when I retire without having to put in a lot of time. A year later, now retired, I exceeded that goal early and now earn about $3000/month with trading stocks (high-yield dividend stocks & stock options trading). The only thing I regret is not starting this 10 years ago as I was still working and could add money each month from my paycheck to make it grow faster so I could have retired 5 years ago. Knowing what I know now about making money in the US stock market but starting much earlier when I was at age 30 or 35 would have put me on the path to early retirement before I turned 50. None of the people I worked with knew anything about investing other than putting money into their 401k so that’s what I did too and only learned about other investing strategies when I got near retirement age.
I’m 62 and I’m in great financial shape. Can’t believe so many other boomers are in such poor financial shape.
I say we all take our money and move out of America
Currently 45 years old. Multi family house thats my residence will be paid off next year.
Excellent video! Period!
I am 62 and I am looking into my options. I’m fully bilingual in Spanish and so I’m looking into Mexico as another possibility. I am a musician and embarrassed to say how little social security I would get if I were to retire right now. It’s very low. If I wait till I’m 67, it will be better but still very low.
Thailand a much better option than the Philippines.
Starting that transition now—-thanks for your sage guidance; great resource! Just starting to gut the house; throw-out (or salvage-sell) Everything…gotta paint, fix up to sell…then get over their… no more 2-week visits…months and years…. Many things factor… too many to mention…
The sad thing is that these illegals flooding into the US are living better than the Americans that have built the United States.
Age 62, took my Civil Service Retirement in August. I’ll be it the Philippines before the end of October. I can take my Social Security any time after the 1st of the year. Yes, my Pension is Coordinated with Social Security.
In my country Australia no pension until 67 ,you can claim unemployment until then but your benefits will be cut as soon as you leave Australia even in the pines once you get to 60 you get 6000 peso’s a month, I saved my pennies at a young age I’m lucky but many are not.
I need “bridge money”as I am only 60.
Excellent video Reekay. Info provided by both your head and heart. It’s presented in a mater of fact format but with a touch of human feeling. It comes across as being genuine not phony. Kudos to you Reekay, when I visit the Philippines perhaps we can meet up for a coffee or beer. Stay well and all the best!
Hi bro. Ive got a question. Is a filipina that wants online sex a red flag? In my opinion its a serious red flag. Especially if youve only been chatting less than 6 months. But ive had conversations with quite a few expats there that have said they did this and went there, married and are living a great life. Id like your opinion.
Another good video: most guys heading to PI are Boomers, and will be. PI will be a smart place where social security income goes further. With 46% of Americans having only social security for income it’s crucial for them to wait until age 67 and collect 37% more each month, versus being short 37% (about $500) short every month.
That said, 27% take SS at age 62, usually due to lost income for a variety of reasons. With a full age SS average income of $1,782/month, PI is one smart choice as you said. With the average US retirement account being $88,400–that leaves a gap of $1.37 million needed to Not outlive your money in the US.
That $88,400 would pay for land and a nice house in PI, then just taxes, insurance, and utilities–no mortgage or rent, then the $1,782 covers a Very comfortable lifestyle allowing for that rare retiree to save and grow a nest egg for travel, or “just in case”. Thanks for the relevant video.
Great video! I find The Philippines to be less expensive than Thailand with exception of electricity, but definitely overall. And English is a huge plus. But everything else from women to infrastructure Thailand has big edge. But in my travels, those 2 countries are the best I’ve visited
My business as started didn’t do anything. But living in Indianapolis i have a great deal of a better chance for a Motorsports podcast with an unforgettable name here than in the Philippines. That’s the number one thing that’s stopping from leaving now or soon.
good info as always….im 50 own coffee shop not making that much money , the building i own is worth only about 50k but i get 1000 month from VA disability. so im assuming with VA clinic in Manila im covered there but what to do to create side income ? cant open coffee bar there or sell beans im guessing..hmm
This is a critically important video. This is a subject that I have heard no other YouTuber cover, when it comes to being an expat. It’s not all girls and beaches. Listen carefully.!!
In the USA , I am hoping for more value for my pension in the Philippines.My monthly income is 5k per month plus I sold my home . I should be ok at age 70 in the Philippines.What do you think Reekay?
Actually, English is pretty well spoken in Cambodia.