49 comments

  1. See this week’s most interesting comments/questions here..
    https://www.youtube.com/@Lifebeyondthesea/community
    — Get a Quote on Expat Health Insurance.. https://bit.ly/expat-insurance-LBTSea
    — How I send Money to the Philippines.. https://remit.ly/1amhoix
    — Loctote Flak Sack Ⅱ – Anti Theft Backpack.. https://amzn.to/3tXuBDk
    — The Only Filipina Dating Site I recommend.. https://bit.ly/christian-filipina-dating

    View My Videos by Category here.. http://bit.ly/reekays-video-playlists
    My Twitter.. https://twitter.com/lifebeyondsea
    My New Heaven & Earth Podcast Channel. (theology) https://www.youtube.com/c/LATENIGHTWithReekay
    More at http://www.lifebeyondthesea.com

    If you find my content helpful, I appreciate the support.
    https://bit.ly/thanks-reekay-lifebeyondthesea

    Reach me at; https://www.facebook.com/reekay.new

    JOIN as a Member to get exclusive videos not shared on the main channel!
    https://bit.ly/JOIN-Reekays-LifeBeyondTheSea

    _____________________________________________________________________
    This channel contains affiliate links that support the channel at no
    extra cost to you. Thanks for your support!

    Some music may be provided by;
    Youtube Audio Library
    Wondershare/Filmora Audio
    Creative Commons Music by Jason Shaw on https://audionautix.com

  4. My Love does not want to discuss but gonna have a serious talk since I’m here to stay and we’re engaged.
    How could someone not think about these things.
    She’s giving me her youth and love, no way I don’t have a plan for her ❤

  5. Back to zero is a good way to put it. However if you have a child together then really she will be worse off after you’re gone with that added responsibility unless provision is made.

  6. I’m getting 4.50 APY in my savings account but investing makes more money depending, good advice for sure, thanks for sharing

  7. This is a problem in the Armed Services too. Too many servicemembers fail to make a will, arrangements, etc. even to their American wives, let alone women they marry in/from the Philippines, Italy, Japan, Guam, etc. But frankly for a man who was this old and had been a successful businessman overseas, its baffling he didn’t make the moves to make sure she and his kids weren’t left in the lurch.

  8. I’ve got a story for you!!! I’ve been scammed to come to America by a wife I married in the Philippines Support her and her family there for 9 years then got her here. She’s only here for the money. Divorce soon. Had nothing to do with me and my family over here. Threatened to kill me 3 times. Hit me once. She’s gone now

  9. Great that you communicated with Ve what do do when the day comes when you are no longer here. Wonder how many guys have this talk with their spouse?

  10. Best advice is to open a business that you know will make money and teach your wife and her family to maintain it, got it!

  11. I’m not sure having money invested in crypto is a good plan for setting up your widow. We know the potential of bitcoin, but it is speculative. Putin could start firing nuclear missiles at Ukraine, sending crypto into another winter, to name one possible crisis.

    Property would be a safer asset class (for the puposes of setting up the wife). We bought land in my wife’s province town in 2016, at 400 pesos per sqm. It is now worth 2000 pesos I gather. And it gives my wife peace of mind. Take care.

  12. The life insurance issue is not a problem. Go to BDO., or wherever you bank. Get Savings Bank Life Insurance there. We have known the insurance officer there for 5 years now, and have 2 scholarship investment portfolios for my daughter, already completely paid off. All we have to do, is sit back and wait for it to mature. If I, or you, get BDO life insurance, for whatever amount, Mama will have no problem accessing it. Just today, Asawa bought another pawnable gold necklace as a gold investment. I fully applaud this. Don’t wait. Do it right, do it now, do it RIGHT NOW. You’ll rest easier.

  13. Its sad, but it sounds like this guy was a fool, it seems like all he cared a bout was spending his last days with a beautiful young woman, which is something i just cant get behind. No offense to him RIP, but the least you can do when you that old is secure a future for your wife and your child

  14. She’d still have to go to probate to acquire the rest of your estate. And if you die sooner than later, before you’ve given her much money, it could be most of it.

  15. If everyone thought ahead clearly about the ramifications of marrying and having children, the human race would go extinct.

    Awful how that poor young woman was left in the lurch. As to the life insurance, a decent local attorney can keep that information on file (if you go that route).

  17. I would establish a trust stateside with the children named as beneficiaries. I would have the trust managed by a reputable trustee (law or financial firm) with strict instructions as to how the widow is to receive a monthly stipend & at what age/milestones the children are to receive substantial control of the trust. I would make sure each child is registered as my child within the social security administration. That alone would by my widow 15 years or more to redefine life after I’m gone or to complete the life vision she and I worked out for our children. The professionally managed trust would serve as an insurance policy against members of her extended family attempting to slowly drain the assets I intended to leave the children.

  18. There should be a required class before marriage the teaches the legal consequences you take on when you marry and /or divorce. No wonder people don’t want to get a legal marriage.

  19. Easy and clearly the best soution for this problem is….. Drum roll………. DON’T GET MARRIED!!!!!!!!!!!

  20. Set up an annuity with survivorship if you can. That way you can enjoy the money when you’re alive and your wife will have some as well.

  22. 15:21. The major problem with your approach is it assumes you’re not going to pass away tomorrow. Unforeseen things can happen, and you’re risking leaving her in a bad place, because you weren’t around to execute on your slow divestment plan.

  24. Actually I don’t agree with most of what you said. The expat you have mentioned is an exception. I ask you just one question. Do you think your wife will be the same woman if you live until you are 90+ or even 100+? People live to this age these days. We’re all human my dear friend. People change. If you exceed 90 of age. You’ll not be the same wise man. You’ll have a brain of a child. I teenager will be able to deceive you very easily! Be careful please.

  25. What pisses me off the most is expats going to philippines getting married having kids and they dont do anything to make sure his wife and kids have a future after he is gone. I have made sure my family will survive after im gone and will not have to work when i have passed. they will have a nice house food on the table and little if no bills because ill make sure the house is solar paneled and wind turbine so no electric bill. I have given my wife all documents needed for insurance and social security if i pass if she needs either when i pass.

  26. I think it’s important to have a binder with all the appropriate information and even contacts for people in the US who are committed to helping her. I spoke to one of my sons and his wife, whom i trust. I will set up an insurance but my filipina will not know about it. She will know that i have made sure she will have a small stipend after i am gone so she is not penniless. My son will receive a small portion of that particular policy to compensate him for helping her take care of everything. I will have a trust that is the beneficiary of the life insurance policy. The trust is for the benefit of my wife and potential children. My son will direct the trust to ensure regular monthly payments. In addition she will be taught how to facilitate simple transactions like covered calls. This will also generate a small income. All of this of course is dependent upon teaching her to be money and finance savvy. The binder will give her all the info she needs, contain all necessary documents, as well as the contact info for my son so she knows she has help. She will not be left out in the wind. All she knows is the money management i have taught her and that when I’m gone, get the binder out and follow the instructions. My son will have a copy of the same binder with all the same info and copies of documents. I think we all should do something along these lines. And definitely wait 2-3 years after you get married before buying it building her a house. If you have kids, get their citizenship established immediately. They may never go to the US, but they will have the option.

  28. Being worth more alive than dead is wise for anyone, especially someone in a new relationship. I’ve seen the financial side of things handled in a prenup with certain assets becoming “community property” at milestones of marriage, i.e., year 5, year 10, etc. Seems fair to me. That way you can share how to access such assets on a time table.

  29. There is one more thing that requires some attention.
    Safeguarding the funds that you have left her from the family. Not long after you pass they will come to get their cut. Down to the third cousins. Most Filipinos are indoctrinated from birth with the “Family First” doctrine. Any windfall that comes to a family member will be distributed amongst the family. The more senior the member , the larger the cut.

  30. I would say that if you have a good financial advisor in the United States, perhaps setting up a trust and arranging monthly payments after you die, might be the way to do it, my fear of putting a lump sum there is some people can’t say no to relatives and friends, and if they knew you had a lump sum of money that might go away, I think it would be better to set up a trust where a monthly payment is established. The money continues to grow in the investment tool that you have set up at home and theoretically if you follow the 4% rule she should never run out of money.

  32. Great ideas. Why can’t her account also be an investment account that parallels your investments?

  33. I would avoid crypto currency myself.
    But that life insurance point is more scary. I could be worth more dead than alive.
    There’s risk and benefit to every choice.

  35. Buying 1000 sq mtr and building a small home on the land near the village where my wife is from. Married since 2019, our son was born in usa so he is a dual citizen

  36. Buying Life Insurance is not so bad. For me, I have kids and have my kids help me with dividing my assets and she gets no life insurance money.

  38. I would recommend, after a number of discussions, when you feel relatively confident she understands the steps you’ve taught her, that SHE write down instructions for her to follow for various scenarios (e.g. serious hospitalization, death). She will be distraught and not remembering so well, so put in her own words (in English or her language or both) it will help her execute the directions you have taught. The documents may be reviewed/updated/improved as necessary.
    Depending on the sensitivity of the documents, you may want to keep them in a safe place.

  40. Yes, if you don’t trust your wife, why did you marry her? Thank you for being a realist.

  42. I’m not a fan of marriage at that age but you don’t have to buy a life insurance to be worth more absent than present.

    She could still take care of you to replace you with her real local lover and just enjoy your savings and whatever else a widow gets.

  43. Thank you for this video, it’s very wise for expats to follow your advice, it will make things easy on your wife and your kids if you have any.

  45. I made sure my wife is on my life insurance, health insurance, pension and social security. She has access to my bank account and I set up another bank account for her that I contribute to for now until she starts working. She also has access to the passwords to all my credit cards. I told her that if something should happen, she should contact my sister who is an attorney who can help her if needed.

  46. If you have a son or daughter in the US(no matter how old), you will need to train them on how to use, save and invest money too. Don’t leave that concept out of the training of your children. Some day you may be too old, or incapacitated to the point where you can no longer run your own finances or portfolio. they will have to take care of that until you pass so that you will not be just poor and old in the last years of your retirement. My grandmother went though this for 5 years before she pass. Now that my Mom is 85, I know that there will be a point where she can’t handle finances. I see it coming. But it will happen to you. So if you are planning on a having a Filipina wife or companion, you need to train her too.

  47. Be DAMNED SURE that you have a legally signed will in place and that SOMEBODY knows exactly where it is. Not everyone has done this.

    Life Insurance might be useful but if there are any assets, a WILL makes a huge difference.

    A friend of mine just died and it appears that he had not yet signed his will, leaving his Filipina penniless. Don’t do that.

  49. IF THE WIDOW WAS IN NEWYORK , SHE WOULD GET A $10,000 USD DEBIT CARD ! + FREE FOOD & MEDICAL CARE !

Comments are closed.