Very interesting video, really puts things in to perspective. Would you mind putting a link to the report that you mentioned I’d be interested in reading it. Thanks again 😊
Excellent info!! I guess once I abandon my life here in Canada and factor in all the savings I will incur while not havng to pay may bills here..I will be effectively rich in the Philippines.
Oops! For years I have watched videos about the what the monthly budget for living in the Philippines was but never heard it broken down by monthly income for profession. This has been highly enlightening. Thanks so much for presenting the information in an entertaining manner. You're going to grow this channel rapidly! Congratulations on a job well done.
@@PaulWorldZoom No. I couldn't. But then again I don't have to imagine, you told me and I believe you. LOL. You sure up very early! I hope I get to meet you when I move to Valencia this year.
The nurses in southern cả makes about $70-90k per annum Whilst pharmacist starts at $80k, (private Mum & Pop retail stores), but there’s student loans to pay off. University of Southern California charges $66k per year x 4 years (you had to have a 4 year degree prior to Doctor of Pharmacy.)
An interesting perspective for sure. I read a 2021 Knight Frank article online that mentioned that if you earned at least the equivalent of $60,000 USD per year in the Philippines, you would fall into the top 1% of wealthiest there. Since the USD has strengthened since then, the threshold may be closer to $54,000 USD.
@@PaulWorldZoom I am sure the top 1% of Blacks in USA earn less than but about only 100K. In fact, data before the plandemic stated that half of USA jobs paid less that $18.58 an hour. More than 1/3 of USA jobs paid less that $15 an hour. Only 1.4% of 401K are worth one million dollars. I think we must stop fooling ourselves that USA is so much different than a 3rd world country.
This was a fascinating video, Well Done. I kind of had a general feeling about this information (because I am probably too obsessed with money 🤪), but nonetheless I enjoyed the crap out of it.
Well done. I might be considered rich by there standards but I never felt rich till I found Jesus. More to life than money but its always nice to have more than you need.
You found Jesus? Was he lost? just kidding. Good for you if that's what you need. Without religion it would be a very chaotic world...mass control at its best.
@@richamison4834 I was lost and he found me is better way to describe it lol. Once I started talking to god daily my whole life changed. from my health to my finances everything changed 10 years ago so I could retire this year at 58. I owe it all to God taking care of me because believe me when I say this I'm just not that smart lol. Talking to him daily changed my life it was that simple.
Peeped you on The Filipina Pea. My Soc. Sec is under $1,000, but i do some writing & editing. I'm leaning Jomtien or Hua Hin, will visit in March and April to see if I enjoy the climate, food, lodging, traffic and ppl
I learned in Thailand that doctors gets commissions on labs, blew my mind. Explains why I get some many unneeded tests now haha. So true about derma docs. That's what I've seen more than anything in my time in Asia. Thank god for expat insurance haha.
Esquire Mag in the Philippines has stated, for anyone in the Philippines to be considered rich, is to have $60,00/P2.9 million, in their bank account. This makes me more resentful because I like your stats. I'm at least close, very well into the upper class. 😆 😂 😆 😂 Being rich to me is no longer about money. I'm rich already having a beautiful fiance, have a roof over my head, healthy, eat what I want, go to bed/wake up when I want, vacation when I want, no stress or heavy bills. To me, that's about as rich as one could get.
Thank you sir keep up the good work. Maybe I can ask you I think I remember you saying something about this in one of your first videos, when a Filipino woman say she is separated, widowed, divorced, or single, what are they really saying, I know theirs no divorce in the country, and everything else make relationships more complicated, just wanted to know what your thoughts were.
I don't know the rules regarding becoming widowed but for sure separated is STILL married. I have heard a path to divorce is available but is very expensive. I hope that helps. I agree with the complications of a previous marriage. Makes immigration very difficult also.
Interesting summation the most popular range from what I'm gathering is between the $1500-2000 range to be comfortable but would still require some additional funds in savings for medical emergencies, start-up money, transportation funds, and parachute savings if things go sideways along with the ability to budget your monthly expenses.
I agree 100%. I met a guy, who introduced himself, on Rizal Boulevard today. He said he lives on $800 monthly and has for years. I wasn’t thinking and didn’t have my phone. Maybe I’ll see him again. I don’t know how that’s possible
How often do you talk to other EXPATS and discuss USD transfer fees and Bank to Bank transfers? I think it would be a very good topic for you and other EXPATS Vlogs. Is there any FREE money transfers?
@@PaulWorldZoom My wife for UCPB ( United Coconut Planters Bank and a couple other banking institutes in Bacolod. She later created her own lending company with seed money.
Dont do money transfers . Open a Schwab account in the US , then use your ATM card here and there is no charge to get your money . Wells Fargo will take care of your needs also but they charge $5 per transaction . Dont bother with account transfers will be too expensive.
I send my wife in the Philippines money every month, until we can get her visa. I make transfers via my online banking at BOA. There is zero charge and can do it entirely myself online.
Military pension plus VA disability puts me pretty set there. Moving there in July. Been planning this for 4 years. Retired before 50. Couldn't do that here if I wanted to.
Yes you are correct if you have a US military retirement and a VA pension especially a 100% and if you receive social security you will pretty much set here in the Philippines or any of the two. You can be more comfortable here in the Philippines then in the USA..........
@@horacesubayar794 Not me in 2014, I had 10+ nurses for 10 days, all White, but forgetful and tatted and not very conversational, even though I was out of it on morphine/fentanyl.
If you have 2,500 a month in Philippines you live real well. I own a home and condo, so I don't have to pay rent. I'm bringing in money to live well . Many more have less and some havemore and live well..
al bundy yo.....suggested topic? i haven't seen any thorough videos on WIFI probs/solutions for online teachers (my biggest concern as a prospective immigrant). Manilla/Cebu hotel WIFI for the first few weeks/months? WIFI companies? generators? cell towers? pocket WIFI? province/city difs? cheers~
@@PaulWorldZoom It's unfortunate (ironic!) as Duma's high on my list and that's my biggest concern!!!! Murphy's Law!!!!! Thank you for responding. Impressive.
@@PaulWorldZoom I'm sure it takes alot of time and effort. I could never do these types of videos but i like watching yours, Old Dog, Mark's, Jen's, Monty, Sunshine Shoulders and yes---Regular Guy in the Philippines ( i think he is funny).
Wow, that is a large amount. Owning a medical clinic, dermatology, some other type of business. Construction ownership perhaps in wealthy areas. Tough question
Who is your other bread winner , if you marry and you let your wife work 6 days a week 10 hours a day that should add about $40 dollars a week to your income stream.
I base rich on net worth. Upper Middle Class in the Philippines is having US$151,000 to $250,000 in net worth ($20,000 liquid), Middle Class US$75,000 to $150,000 ($10,000 liquid).
Isn't economics interesting. And then throw in locations. Does the surgeon in the U.S. making a million dollars a day lead a better lifestyle (happiness) than a fisherman in the PI? It's cool to see the locals just enjoying their lives laughing and enjoying what they have.There is a guy that does non speaking videos just walking through the slums of Manila and i see the joy of the people living their lives with people in the same community. I find myself feeling jealous of their lives. Is that why so many Phillipinos, no matter where they travel for work always have the goal of going back?
So so true Reid. I saw a lot working 25 years in hospitals. The physicians make a lot of money. But the job is tough tough. Brutal hours with ER call. I can’t argue with the happiness of the Philippines
Related topic is comparable income inequality. Surprisingly the Gini Coefficient in the US and the Philippines are both quite high in the low 40s. ( higher the number the more inequality). While Norway is among the lowest in the world with a Gini in the 20s. If you are interested check out Wikipedia List of counties by income equality. Economic statistics in the US are relatively accurate. For many of the less developed countries the numbers are probably guesstimates.
Thank you for the information. I very much enjoy those articles and reports. Thanks for your comment and taking the time to submit that information. I appreciate you
Good reason to hide your wealth. Expats are bidding up the prices making it unaffordable for locals. Check out what happened in Costa Rica where locals can't afford housing like they're used to
The normal definition of rich is the top 1% of earners. In the PH that is about $5000 a month in the U.S. it depends on the state but between 30-40 thousand a month.
Anywhere you are, just live within your means and you can live comfortably! Don’t compete with the Joneses! Just what a known financial guru states, Don’t try to buy things you cannot afford to impress people you don’t even like!
I watch all the videos of how far your money goes in the Philippines and can't hardly believe it. I wish I could get my wife to see it. We would be close to $8k a month so would that be double rich. I'm coming out in Jan 2024 for 30 days and looking forward to it (solo) with a couple from church. First time in Philippines, retired Navy 30 years and seen a lot of places so at 60 yrs hope to visit many places. My friends wife is a Philippa coming for new baby in family.
What it takes to be in America’s top 1% Knight Frank 2021 $4.4M, What it takes to be wealthy in America Charles Schwab survey 2022 $2.2M, What it takes to be financially comfortable in America Charles Schwab survey 2022 $774,000, The average American’s net worth (median) Federal Reserve 2019 $122,000. Rich just means having more than your neighbors, it's all subjective. So a poor person in the USA could be rich in the Philippines.
I am a filipino and watching this. Pay here is really low. But if find your niche and perfected it. you can earn decent. Currently a senior software engineer for a local company. So far I earn 200,000 / month. Its Work from home for life too. My target is to earn 500,000 / month. or 105,000 usd / year here in PH. I think I can do that. I know a filipino friend and works for apple PH and earns that 500k / month. Even for US standards 100k usd / year is a good money for a professional.
@@PaulWorldZoom Thank you. But if my friend is probably based in Apple USA. He could be earning 300k usd / year easy. The other good thing is. he also has stock options. So he really is very well off. Software engineers in USA specially working at silicon valley. entry level positions has a base pay of 120k usd. I am a senior with 13 years experience. Also a former engineer at Microsoft PH. My salary is only 100k a month 🤣🤣 If I am working in US Microsoft. entry level there is 100k usd/ year. PH really pays very low compared to US. As expected from a developing country.
No matter how many times I hear it, I'll never get over how little money Filipinos earn. Shocking everytime 😳. Makes one (in a 1st world country) feel fortunate. 🙏
@@PaulWorldZoom I first found out how poor the pay is there when I went to hire a Filipina VA (virtual assistant) through a company here in the US. The company wanted to charge me $4 an hour ($2 for the Filipina and $2 for the company). I was taken back it was so low, but they insisted it was a good wage for the Filipina and she would be happy. Which now makes a little sense, because $2 times 160 hours a month = $320. I don't have the heart to have her make just that, so I pay her more very month. She's a gem.
I was shocked when I first learned that my current wife earned less than $5,000 a yr as a public school teacher. When she starts teaching in the US, she would instantly become rich, haha.
Philippine stats from May 2022. Income classification Monthly income Rich At least ₱219,140 and up High income (but not rich) Between ₱131,484 to ₱219,140 Upper middle income Between ₱76,669 to ₱131,484 Middle class Between ₱43,828 to ₱76,669 Lower middle class Between ₱21,194 to ₱43,828 Low income (but not poor) Between ₱9,520 to ₱21,194 Poor Less than ₱10,957 For your information This benchmark increases as the economy and inflation go up. In 2018 Pinoys need to earn ₱38,080 a month be categorically considered as part of the middle class. In 2020, the figure has changed and it went up to ₱43,828 a month. That’s a ₱5,748 increase, a 15 percent bump in a span of two years. Another indicator that would factor in as a determinant of the socio-economic classification is the family expenditure - the ratio of the overall household expenses to the monthly income. For this one, we will be gleaning from the earlier Philippine Statistics Authority data where the classifications are grouped into three segments: the high income, middle income, and low-income groups, each representing the respective socio-economic classes. High income Middle income Low income Food 21.1% 34.8% 53.4% Rent/rental value of occupied dwelling units 16.6% 13.9% 10.7% Transportation and communication 12.5% 9.8% 5.3% Fuel, light and water 5.6% 7.7% 7.7% Taxes 5.4% 2.4% 0.5% Education 3.7% 5.9% 2.1% Personal care and effects 3.0% 3.6% 3.9% Others 32.1% 21.9% 16.4% Total 100.0% 100.0% 100.0% According to the breakdown of family expenditure on average, the middle-income earners spend 34% of their income on food, 13.9% on home/rent, 9.8% on transportation, 7.7% on utilities, 5.9% on education, and 21.9% on others which can include savings, recreation expenses, and the likes.
Wow Jeff, sensational information. The Index I read didn’t have nearly that detailed information. Wish I had seen that before. Thanks for taking the time to post all that. Much appreciated
Well, with my Social Security, interest and other income of $4,000+ monthly, I'll be RICH when I "retire" there in a year, though I probably won't spend more than $2,000 monthly....
As with most income statistical analysis, "Middle Class" doesn't tell the truth. "Median Income" is closer to the truth. When 47 percent of the US population don't make enough to pay "Income Tax's", and if course you have to add the occasional "Billionaire" who pays nothing as well, the "Middle Class" in income is actually more like the 80-95 income percentiles. While $250k in the US is definitely doing well, depends on where you live. If you live in rural Texas and make that, yes you are definitely up there, but live in LA, Miami, New York, not so much. I'm sure the picture in developing nations would be an even higher percentile rated as "Poor" and an even smaller "Middle Class."
As always, your analysis makes perfect sense. I certainly agree about location being hugely important. The expensive urban areas burn thru cash. Thanks again
$250k is doing well everywhere in the world. If you make $250k in NYC you are doing just fine, believe me. You need about $115-125k to live well in NYC. You can live on much less than that but you won't be living large. You need about $50-60k to get by in NYC, pay rent probably with roommate, food, etc
@@debunkinghistory214 Never been to NY, but don't they have large state income tax, as well as city tax's as well? Seems like $50-60k there would be like $1k in the PI. $250k in Texas, other than Austin, is doing real well! Getting less so with all the refugee's from the other states coming here, won't be long before we'll be as expensive as California, but without the good stuff!
@@bigjohnson7415 Yes, but it doesn't really kick in much until you make more than that. If you have a roommate in NYC (Manhattan) you still need probably $1700-1800 monthly, or $3000 plus if living independently. Which is doable on $50-60k (even less in the boroughs like $40-45k) and $120k respectively, say with 15% and 25-28% effective taxation respectively. The crazy tax rates don't really kick in until you're near or over $250k. If you're going to be eating out constantly and taking full advantage of what the city has to offer, you either need to have roommates and live in boroughs, make a lot of money, or have a trust fund. Anybody with a decent full-time job can swing life in NYC, it's mostly just a matter of how private and big your dwelling is going to be. Just like this guy said; pretty much anyone can live in Hong Kong too if you're willing to live in a capsule / cage.
With those salaries how can Filipino afford a condo or a house it's insane. I am in IT making around brut salary 4000$ per month. But when i retire the pension will be around 1600$ per month. This is very sad for the Filipino they are hard working people.
Most Filipinas would say your rich if you have 1500-1800 or more coming in every month. And you are a catch if that money is consistent and you treat their kids nice !!
Since the exchange rate constantly fluctuates, the Dollar is a terrible guage to use for this. The last I read, an income of about P2.5M, about P208,330 a month is considered rich here.
@@PaulWorldZoom Currently it's about $3,790. Just over 3 months ago it was about $3,525. In 2020, if it was the same, it would have been around $4,200, more or less.
@@PaulWorldZoom My point is, as I stated, the Dollar is a terrible guage to use. I've dealt with an exchange rate here from P40 (twice) to now as high as P59. That's quite a spead.
As a millennial can I ask what a pension is? Lol jk. Young vloggers better work hard bc we probably won’t have social security either when our retirement comes. Unfortunately.
$1,600 - $4,000 is way too broad for upper middle-class. Twice $1,600 is still lrss than 4k. 3k-4k is more realistic for UMC, and 5k plus is rich in the PI.
Earn in US dollars, spend in pesos. I am a FilAm based in both Makati and Las Vegas. I get over $4,000/mo in net passive income (rentals, dividends, interest) from my assets in the US. When I am in the US, I just live like an average Joe. When I am in the Philippines, I live like a king. $4,000/mo is the sweet spot of living like a king in the Philippines. Actually, $2,500 is plenty enough there. I am only 58. At 62, I will get SS, another $2,500/mo. Retire in the Philippines, live like a king. good luck to all.
Oh, bologna. In reality, it depends on who you ask. Ask a Filipino and he will say one thousand dollars. Ask me and I will tell you my Social Security of one thousand two hundred makes me rich where I live. Plenty of money but the way things are going now with the dollar it may collapse, and then we will all be poor. It is coming.
@@michaelbyrne5469 you're overspending somewhere. Probably on escorts or alot of dating. I literally live off 2k in LA, one of the most expensive cities in the US. What more in the Philippines where that amount would be worth more. I don't drink or smoke either. I also know locals in the Philippines whi live off like 500-700 usd a month in alright homes. I seen nice condos for 600-700 usd a month. An extra 800 should cover all other necessities. If youre not going out alot and taking grab everywhere. If you rent a decent home and live like locals, ive seen some go for 300-500 a month.
@@jhnyjoejoe69 I have no intention of saving money , i lived is Scottsdale Arizona where i was a casino manager for plus 20 years. Own a top end condo here 5mil. Just got back from Boracay 3 night my hotel was cheap only $150 per night other 4 nights were plus $500 per night discount, got a great deal. I eat lobster at least twice a week tons of shrimp, buy my own custom US steak 4100 per kilo. I am trying to do that live like a king thing, that takes plus $5,000 per month. I am married , when we travel i always rent private boats also try to get speed boats when possible. They go cheap here , only $100 per hour. If this was in the states it would cost me a fortune here i can travel all over the place and sometimes squeak by on my $4,1000 budget. Luckily that still allows me a lot of wiggle room. Passive income is set at $6,7000 a month for life.
@@mikewilbur5219 yeah yet they send Trillions to Ukraine, they're Trying to sink us and make off like bandits in the process, helicopters back to Tel Aviv
![How Much do Filipinos Make and What Do They Do For a Living? [MANILA] | Street Interview](http://i.ytimg.com/vi/QLXTV7CdMBk/mqdefault.jpg)
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Excellent vlog. For years I've watched videos about what the monthly budgets were
Thank you Sir
This is a very good topic Paul, thanks.
Welcome, thanks for watching
Great info once again.Thanks Paul
Very welcome
Great videos keep up the good work and thanks for all the good info. I have one more year here before i cut it loose and make a run for it.
Awesome Reid, I'm planning to move to Valencia from Southwest Florida this year.
You will certainly be welcomed. I hope your year goes by quickly
@@PaulWorldZoom Thank you. So do I.
Good video sir
Thumbs up
Thanks for liking. Great 👍
GOOD topic! I haven't heard this from anyone else, and is always a question in the back of my mind. Thank you for this.
I found the article interesting. Amazing what we consider rich vs. other countries. I moved here from Dubai. Night and Day difference
@@PaulWorldZoom You've been to Thailand and the Philippines. Do you prefer the Philippines over all the other places you've lived?
Very interesting video, really puts things in to perspective. Would you mind putting a link to the report that you mentioned I’d be interested in reading it. Thanks again 😊
Awesome Paul, I will. Thanks for watching
Interesting you've opened up a lot. Other people tried but you've done it quite well
Thanks! I appreciate your kind words
Another great video.
Thank you Gary
Just subscribed after Pea told me. I think you are cool.
Thanks for the sub!
What's up bro. Keep the vids coming
Thank you very much. It has been fun.
Excellent info!! I guess once I abandon my life here in Canada and factor in all the savings I will incur while not havng to pay may bills here..I will be effectively rich in the Philippines.
Haha of course. Bring all the big bucks to the Philippines. Thanks for your comments
Real good vedio
Thank you George
Spot on analysis on the pay scales for Philippines and the US.
Thanks Charles
VERY Good Info
Thank a lot. Thanks for watching
Oops! For years I have watched videos about the what the monthly budget for living in the Philippines was but never heard it broken down by monthly income for profession. This has been highly enlightening. Thanks so much for presenting the information in an entertaining manner. You're going to grow this channel rapidly! Congratulations on a job well done.
Thank you very much Frank. I was surprised myself. Could you imagine a nurse make $500 monthly or a surgeon making $5000 monthly. Wow
@@PaulWorldZoom No. I couldn't. But then again I don't have to imagine, you told me and I believe you. LOL. You sure up very early! I hope I get to meet you when I move to Valencia this year.
The nurses in southern cả makes about $70-90k per annum
Whilst pharmacist starts at $80k, (private Mum & Pop retail stores), but there’s student loans to pay off.
University of Southern California charges $66k per year x 4 years (you had to have a 4 year degree prior to Doctor of Pharmacy.)
@@PaulWorldZoom Surgeons do not make $5,000 a month here average is closer to $3,000
@@mmirafuentess1990 By the time you pay loans, housing, transportation, food and retirement saving your actually pay will be on par with Philippines.
An interesting perspective for sure. I read a 2021 Knight Frank article online that mentioned that if you earned at least the equivalent of $60,000 USD per year in the Philippines, you would fall into the top 1% of wealthiest there. Since the USD has strengthened since then, the threshold may be closer to $54,000 USD.
Isn’t that amazing that $60k would you top 1% here. Not a big number in the US but a lot here
@@PaulWorldZoom I am sure the top 1% of Blacks in USA earn less than but about only 100K.
In fact, data before the plandemic stated that half of USA jobs paid less that $18.58 an hour. More than 1/3 of USA jobs paid less that $15 an hour. Only 1.4% of 401K are worth one million dollars. I think we must stop fooling ourselves that USA is so much different than a 3rd world country.
interesting video...your growing fast
Thanks Mike, appreciated. I see you’re way over 6K too. Great
@@PaulWorldZoom we should meet up soon
Thank you very much plan on retiring somewhere in Southeast Asia
Great Keith, thank you and good luck
This was a fascinating video, Well Done. I kind of had a general feeling about this information (because I am probably too obsessed with money 🤪), but nonetheless I enjoyed the crap out of it.
Glad you enjoyed it! Thanks for always commenting
@@PaulWorldZoom Thank you for remembering me, Paul❕ 😁👍
Well done. I might be considered rich by there standards but I never felt rich till I found Jesus. More to life than money but its always nice to have more than you need.
You found Jesus? Was he lost? just kidding. Good for you if that's what you need. Without religion it would be a very chaotic world...mass control at its best.
@@richamison4834 I was lost and he found me is better way to describe it lol. Once I started talking to god daily my whole life changed. from my health to my finances everything changed 10 years ago so I could retire this year at 58. I owe it all to God taking care of me because believe me when I say this I'm just not that smart lol. Talking to him daily changed my life it was that simple.
@@mikesimpson9997 🙏🙏🙏God is great.
@@sheila_reganian amen
@@mikesimpson9997 Excellent response. He has always been there for you. All you had to do was to reach out and accept him.
Peeped you on The Filipina Pea. My Soc. Sec is under $1,000, but i do some writing & editing. I'm leaning Jomtien or Hua Hin, will visit in March and April to see if I enjoy the climate, food, lodging, traffic and ppl
Should not be a problem if you have some side income. I find Hua Hin and bit more expensive than Jomtien.
Enjoy and good luck
Interesting figures, do you have a link to the article or perhaps the name of the organization
Hey Chris, I will send it. Thanks for asking
I learned in Thailand that doctors gets commissions on labs, blew my mind. Explains why I get some many unneeded tests now haha.
So true about derma docs. That's what I've seen more than anything in my time in Asia. Thank god for expat insurance haha.
Yes they do
Saw you on Pea.
Thank you very much
Esquire Mag in the Philippines has stated, for anyone in the Philippines to be considered rich, is to have $60,00/P2.9 million, in their bank account. This makes me more resentful because I like your stats. I'm at least close, very well into the upper class. 😆 😂 😆 😂
Being rich to me is no longer about money. I'm rich already having a beautiful fiance, have a roof over my head, healthy, eat what I want, go to bed/wake up when I want, vacation when I want, no stress or heavy bills. To me, that's about as rich as one could get.
Roy, that is such a great situation. Congratulations. Very much enjoyed you comment. Enjoy
Thank you sir keep up the good work. Maybe I can ask you I think I remember you saying something about this in one of your first videos, when a Filipino woman say she is separated, widowed, divorced, or single, what are they really saying, I know theirs no divorce in the country, and everything else make relationships more complicated, just wanted to know what your thoughts were.
I don't know the rules regarding becoming widowed but for sure separated is STILL married. I have heard a path to divorce is available but is very expensive. I hope that helps. I agree with the complications of a previous marriage. Makes immigration very difficult also.
There is only a path for Anulment and the Divorce is slowly going thru the Philippine government now maybe someday it will happen@@PaulWorldZoom
Can you provide a link to the index please?
Oh sure, thank you for watching
Are those bracket numbers pre-tax? So if upper middle class is $1600-$4000, it would be lower for post tax money.
Very true. Yes
Paul, Are those figures base pay or take home pay?
Hey Horace, Gross Pay
Interesting summation the most popular range from what I'm gathering is between the $1500-2000 range to be comfortable but would still require some additional funds in savings for medical emergencies, start-up money, transportation funds, and parachute savings if things go sideways along with the ability to budget your monthly expenses.
I agree 100%. I met a guy, who introduced himself, on Rizal Boulevard today. He said he lives on $800 monthly and has for years. I wasn’t thinking and didn’t have my phone. Maybe I’ll see him again. I don’t know how that’s possible
@@clase500exactly
WoW...
Thanks 👍
can you clarify please or these amounts net or gross income per month ?
As I read the information. Gross income was the indicator. Thanks so much
How about this you need $3,000 a month clear to live good here.
Thats question varies depending on who you ask
Well put. You’re right
This video is very interesting. Is the cost of living quite low in the Philippines?😁
Yes Linda, very much so. Medicines, Utilities, and Gas are close to our problems. Everything else…cheap
I always get confused when CZcams says "$4000" is rich. For clarification, is that $4000 after taxes or before taxes?
Fair question, I don’t know
I assume when talking these U.S. numbers you are referring to net income, not gross.
Can you add the source of the data please? I see 5 others who asked for the source. THANK YOU
Oh I forgot, will do. Thanks
Figures are a scam and so are you, ex-con Paul
How often do you talk to other EXPATS and discuss USD transfer fees and Bank to Bank transfers? I think it would be a very good topic for you and other EXPATS Vlogs. Is there any FREE money transfers?
Stanley, I don’t know but I will check it out.
@@PaulWorldZoom My wife for UCPB ( United Coconut Planters Bank and a couple other banking institutes in Bacolod. She later created her own lending company with seed money.
"worked for UCPB
Dont do money transfers . Open a Schwab account in the US , then use your ATM card here and there is no charge to get your money . Wells Fargo will take care of your needs also but they charge $5 per transaction . Dont bother with account transfers will be too expensive.
I send my wife in the Philippines money every month, until we can get her visa. I make transfers via my online banking at BOA. There is zero charge and can do it entirely myself online.
Military pension plus VA disability puts me pretty set there. Moving there in July. Been planning this for 4 years. Retired before 50. Couldn't do that here if I wanted to.
So true. Congratulations on both and welcome
Enjoy your retirement!
I'm in the same boat brother. Just waiting to settle things here.
Yes you are correct if you have a US military retirement and a VA pension especially a 100% and if you receive social security you will pretty much set here in the Philippines or any of the two. You can be more comfortable here in the Philippines then in the USA..........
My spouse retired at age 39. We now live here in PH. He receives military pension and VA. Im glad we moved.
Now you know why nurses trained in PI look to move to America for great pay!
So very true. We employed dozens along with OT’s and PT’s at our hospitals. Great clinical skills also
@@PaulWorldZoom That is so true. When I was in the pre-op and post-op at a US hospital, I thought I was in the Philippines after I awoke.
@@horacesubayar794 Not me in 2014, I had 10+ nurses for 10 days, all White, but forgetful and tatted and not very conversational, even though I was out of it on morphine/fentanyl.
$6,000/yr in Philippines or up to $210,000/yr in USA.
Small difference.
Smart man
Thanks very much
You know how
Thanks 👍
If you have 2,500 a month in Philippines you live real well.
I own a home and condo, so I don't have to pay rent. I'm bringing in money to live well . Many more have less and some havemore and live well..
Very good points. I agree. Thanks for the comments
al bundy yo.....suggested topic? i haven't seen any thorough videos on WIFI probs/solutions for online teachers (my biggest concern as a prospective immigrant). Manilla/Cebu hotel WIFI for the first few weeks/months? WIFI companies? generators? cell towers? pocket WIFI? province/city difs? cheers~
Let me check on that. My first 5 months in Dumaguete has been great with the exception of terrible WIFI and power. Truly bad. Thanks for that
@@PaulWorldZoom It's unfortunate (ironic!) as Duma's high on my list and that's my biggest concern!!!! Murphy's Law!!!!! Thank you for responding. Impressive.
❤
Thanks
Congratulations on being eligible to be monetized. Bty,
Thank you very much. It was actually pretty hard. Not physically but just thinking of interesting videos and finding the time to record and edit
@@PaulWorldZoom I'm sure it takes alot of time and effort. I could never do these types of videos but i like watching yours, Old Dog, Mark's, Jen's, Monty, Sunshine Shoulders and yes---Regular Guy in the Philippines ( i think he is funny).
This is great. thank you. How would you earn $4,000 to $20,000 a month? All positive comments welcome.
Wow, that is a large amount. Owning a medical clinic, dermatology, some other type of business. Construction ownership perhaps in wealthy areas. Tough question
Investing/Trading Stocks and Cryptocurrencies, Real Estate, Business Ownership.
@@johnclark7973 Cant trade for here against US law. There is one company forget the name but very difficult.
Is this individual income or family income?
Hi, individual income and not family for the article. 2 income couples would be greatly ahead 👍 Thanks
Who is your other bread winner , if you marry and you let your wife work 6 days a week 10 hours a day that should add about $40 dollars a week to your income stream.
I base rich on net worth. Upper Middle Class in the Philippines is having US$151,000 to $250,000 in net worth ($20,000 liquid), Middle Class US$75,000 to $150,000 ($10,000 liquid).
Damn, I'd be upper then, but I still could not retire in the US.
I always enjoy your comments. Thanks very much
All income classifications in the PH is quoted in PHP and not USD.
Okay, thanks
Isn't economics interesting. And then throw in locations. Does the surgeon in the U.S. making a million dollars a day lead a better lifestyle (happiness) than a fisherman in the PI? It's cool to see the locals just enjoying their lives laughing and enjoying what they have.There is a guy that does non speaking videos just walking through the slums of Manila and i see the joy of the people living their lives with people in the same community. I find myself feeling jealous of their lives. Is that why so many Phillipinos, no matter where they travel for work always have the goal of going back?
So so true Reid. I saw a lot working 25 years in hospitals. The physicians make a lot of money. But the job is tough tough. Brutal hours with ER call.
I can’t argue with the happiness of the Philippines
Related topic is comparable income inequality. Surprisingly the Gini Coefficient in the US and the Philippines are both quite high in the low 40s. ( higher the number the more inequality). While Norway is among the lowest in the world with a Gini in the 20s. If you are interested check out Wikipedia List of counties by income equality. Economic statistics in the US are relatively accurate. For many of the less developed countries the numbers are probably guesstimates.
Thank you for the information. I very much enjoy those articles and reports. Thanks for your comment and taking the time to submit that information. I appreciate you
Good reason to hide your wealth. Expats are bidding up the prices making it unaffordable for locals. Check out what happened in Costa Rica where locals can't afford housing like they're used to
The normal definition of rich is the top 1% of earners. In the PH that is about $5000 a month in the U.S. it depends on the state but between 30-40 thousand a month.
Hey John. Thank you. Amazing 5k vs. 30 or 40k
You are wrong the top 1% is barely over $3,000 . Do you live here ? I have boots on the ground research its 157,000 pesos top 1%
@@michaelbyrne5469 - Sounds like you have it all figured out quoting a survey from 2012. Best of luck to you.
@@JohnSmith-oj9gw Thanks forget about those surveys such a moving target , boots on the ground.
Anywhere you are, just live within your means and you can live comfortably! Don’t compete with the Joneses! Just what a known financial guru states, Don’t try to buy things you cannot afford to impress people you don’t even like!
I watch all the videos of how far your money goes in the Philippines and can't hardly believe it. I wish I could get my wife to see it. We would be close to $8k a month so would that be double rich. I'm coming out in Jan 2024 for 30 days and looking forward to it (solo) with a couple from church. First time in Philippines, retired Navy 30 years and seen a lot of places so at 60 yrs hope to visit many places. My friends wife is a Philippa coming for new baby in family.
Congratulations. You are certainly correct about the prices. A 8K budget would be awesome in the PI.
Enjoy your stay. Lovely place
How much a RN make on average I'm philipines
$500 US per month. Not good
@@PaulWorldZoom wow
I may retire there
What it takes to be in America’s top 1% Knight Frank 2021 $4.4M, What it takes to be wealthy in America Charles Schwab survey 2022 $2.2M, What it takes to be financially comfortable in America Charles Schwab survey 2022 $774,000, The average American’s net worth (median) Federal Reserve 2019 $122,000. Rich just means having more than your neighbors, it's all subjective. So a poor person in the USA could be rich in the Philippines.
Yes James exactly. Thanks for the information. Much appreciated. I love those stats
Financially comfortable in the US @ $774K ? Maybe I'm a snob, but that seems a little low.
I am a filipino and watching this. Pay here is really low. But if find your niche and perfected it. you can earn decent. Currently a senior software engineer for a local company. So far I earn 200,000 / month. Its Work from home for life too. My target is to earn 500,000 / month. or 105,000 usd / year here in PH. I think I can do that. I know a filipino friend and works for apple PH and earns that 500k / month. Even for US standards 100k usd / year is a good money for a professional.
Congratulations. Excellent. So nice to hear that
@@PaulWorldZoom Thank you. But if my friend is probably based in Apple USA. He could be earning 300k usd / year easy. The other good thing is. he also has stock options. So he really is very well off. Software engineers in USA specially working at silicon valley. entry level positions has a base pay of 120k usd. I am a senior with 13 years experience. Also a former engineer at Microsoft PH. My salary is only 100k a month 🤣🤣 If I am working in US Microsoft. entry level there is 100k usd/ year. PH really pays very low compared to US. As expected from a developing country.
@@nat0106951 If you are in California Silicon Valley making 150K/year , you are consider low income work force. my 2 cents
Sweet spot $3,500 - $$5,000 monthly in the Philippines
That would be a great budget here 👍👍
No matter how many times I hear it, I'll never get over how little money Filipinos earn. Shocking everytime 😳. Makes one (in a 1st world country) feel fortunate. 🙏
Very true John. I didn’t realize how low the salaries actually are. Even the big US firms that have big call centers here pay terribly. Thanks
@@PaulWorldZoom I first found out how poor the pay is there when I went to hire a Filipina VA (virtual assistant) through a company here in the US. The company wanted to charge me $4 an hour ($2 for the Filipina and $2 for the company). I was taken back it was so low, but they insisted it was a good wage for the Filipina and she would be happy. Which now makes a little sense, because $2 times 160 hours a month = $320.
I don't have the heart to have her make just that, so I pay her more very month. She's a gem.
I was shocked when I first learned that my current wife earned less than $5,000 a yr as a public school teacher. When she starts teaching in the US, she would instantly become rich, haha.
it comes with the cost of living also. In the US you might earn more but you will also spend more.
@@jordzbuenafe6239 In the US you earn way more than you spend. Not so in the Philippines for Filipinos.
❤❤❤Keep it up. Road to 10K subs threshold?😜🥰
Thanks Sheila. I wish.
Philippine stats from May 2022.
Income classification
Monthly income
Rich
At least ₱219,140 and up
High income (but not rich)
Between ₱131,484 to ₱219,140
Upper middle income
Between ₱76,669 to ₱131,484
Middle class
Between ₱43,828 to ₱76,669
Lower middle class
Between ₱21,194 to ₱43,828
Low income (but not poor)
Between ₱9,520 to ₱21,194
Poor
Less than ₱10,957
For your information
This benchmark increases as the economy and inflation go up. In 2018 Pinoys need to earn ₱38,080 a month be categorically considered as part of the middle class. In 2020, the figure has changed and it went up to ₱43,828 a month. That’s a ₱5,748 increase, a 15 percent bump in a span of two years.
Another indicator that would factor in as a determinant of the socio-economic classification is the family expenditure - the ratio of the overall household expenses to the monthly income. For this one, we will be gleaning from the earlier Philippine Statistics Authority data where the classifications are grouped into three segments: the high income, middle income, and low-income groups, each representing the respective socio-economic classes.
High income
Middle income
Low income
Food
21.1%
34.8%
53.4%
Rent/rental value of occupied dwelling units
16.6%
13.9%
10.7%
Transportation and communication
12.5%
9.8%
5.3%
Fuel, light and water
5.6%
7.7%
7.7%
Taxes
5.4%
2.4%
0.5%
Education
3.7%
5.9%
2.1%
Personal care and effects
3.0%
3.6%
3.9%
Others
32.1%
21.9%
16.4%
Total
100.0%
100.0%
100.0%
According to the breakdown of family expenditure on average, the middle-income earners spend 34% of their income on food, 13.9% on home/rent, 9.8% on transportation, 7.7% on utilities, 5.9% on education, and 21.9% on others which can include savings, recreation expenses, and the likes.
Wow Jeff, sensational information. The Index I read didn’t have nearly that detailed information. Wish I had seen that before. Thanks for taking the time to post all that. Much appreciated
@@PaulWorldZoom I had looked those stats up a few weeks back and remembered the article, so I just thought I’d share the data.
Impressive research!
Great stats, thanks, particularly on % of income on food and rent
Well, with my Social Security, interest and other income of $4,000+ monthly, I'll be RICH when I "retire" there in a year, though I
probably won't spend more than $2,000 monthly....
Excellent plan and congratulations. That will certainly be plenty
So, if I earn +/- $1200/month teaching English online, I would be considered middle class in the PHs.
Yes you would
Guys, net worth is a lot more telling than income for determining who is well-off, wealthy, or rich when you talk about those in the top 20%.
Yes I agree
Sounds like the dry eyes guy from those commercials. Sorry, can’t do it
As with most income statistical analysis, "Middle Class" doesn't tell the truth. "Median Income" is closer to the truth. When 47 percent of the US population don't make enough to pay "Income Tax's", and if course you have to add the occasional "Billionaire" who pays nothing as well, the "Middle Class" in income is actually more like the 80-95 income percentiles. While $250k in the US is definitely doing well, depends on where you live. If you live in rural Texas and make that, yes you are definitely up there, but live in LA, Miami, New York, not so much. I'm sure the picture in developing nations would be an even higher percentile rated as "Poor" and an even smaller "Middle Class."
As always, your analysis makes perfect sense. I certainly agree about location being hugely important. The expensive urban areas burn thru cash. Thanks again
$250k is doing well everywhere in the world. If you make $250k in NYC you are doing just fine, believe me. You need about $115-125k to live well in NYC. You can live on much less than that but you won't be living large. You need about $50-60k to get by in NYC, pay rent probably with roommate, food, etc
@@debunkinghistory214 Never been to NY, but don't they have large state income tax, as well as city tax's as well? Seems like $50-60k there would be like $1k in the PI. $250k in Texas, other than Austin, is doing real well! Getting less so with all the refugee's from the other states coming here, won't be long before we'll be as expensive as California, but without the good stuff!
@@bigjohnson7415 Yes, but it doesn't really kick in much until you make more than that. If you have a roommate in NYC (Manhattan) you still need probably $1700-1800 monthly, or $3000 plus if living independently. Which is doable on $50-60k (even less in the boroughs like $40-45k) and $120k respectively, say with 15% and 25-28% effective taxation respectively. The crazy tax rates don't really kick in until you're near or over $250k. If you're going to be eating out constantly and taking full advantage of what the city has to offer, you either need to have roommates and live in boroughs, make a lot of money, or have a trust fund. Anybody with a decent full-time job can swing life in NYC, it's mostly just a matter of how private and big your dwelling is going to be. Just like this guy said; pretty much anyone can live in Hong Kong too if you're willing to live in a capsule / cage.
I’m 62. High school dropout
I make $4129. Take home
On my pension
Congratulations. Fantastic retirement. 🙏🙏🙏
@@PaulWorldZoom thx
With those salaries how can Filipino afford a condo or a house it's insane. I am in IT making around brut salary 4000$ per month. But when i retire the pension will be around 1600$ per month.
This is very sad for the Filipino they are hard working people.
They do work very hard. That is why we see large family units buying together. 2 and 3 generations sharing
You have to support the girlfriend or wives
Family then you have to buy her a house and land and a car or motorcycle
And pay for food for family
Haha. That could be very true. Look out
Ever foreigners are rich there
So true. I wish, right?
The stretching of the necks ot .my shirts drove me crazy how bout you
Oh yes 😜👍
Most Filipinas would say your rich if you have 1500-1800 or more coming in every month. And you are a catch if that money is consistent and you treat their kids nice !!
Yes Doug. I see that daily. So true
Considering the Filipinas are lucky to make $200 to $300/mo, yeah it's a no-brainer they think $1,800 is rich.
Since the exchange rate constantly fluctuates, the Dollar is a terrible guage to use for this. The last I read, an income of about P2.5M, about P208,330 a month is considered rich here.
Hi David, yes that is just about $4000 so that matches up with the Economic Index I used. I would agree 4K is a lot here
@@PaulWorldZoom Currently it's about $3,790. Just over 3 months ago it was about $3,525. In 2020, if it was the same, it would have been around $4,200, more or less.
@@PaulWorldZoom My point is, as I stated, the Dollar is a terrible guage to use. I've dealt with an exchange rate here from P40 (twice) to now as high as P59. That's quite a spead.
As a millennial can I ask what a pension is? Lol jk. Young vloggers better work hard bc we probably won’t have social security either when our retirement comes. Unfortunately.
I laughed at this. I thought OMG when I read the first sentence then saw JK. Funny
Well, you could buy yourself an annuity. That could be called a pension.
$1,600 - $4,000 is way too broad for upper middle-class. Twice $1,600 is still lrss than 4k. 3k-4k is more realistic for UMC, and 5k plus is rich in the PI.
but what if your net worth is a million + the 3,500K a month?
Thanks Kenneth, you have a very good point. Thanks for your comment
Earn in US dollars, spend in pesos.
I am a FilAm based in both Makati and Las Vegas. I get over $4,000/mo in net passive income (rentals, dividends, interest) from my assets in the US.
When I am in the US, I just live like an average Joe. When I am in the Philippines, I live like a king.
$4,000/mo is the sweet spot of living like a king in the Philippines.
Actually, $2,500 is plenty enough there.
I am only 58. At 62, I will get SS, another $2,500/mo.
Retire in the Philippines, live like a king.
good luck to all.
Thanks for the story. Congratulations
Oh, bologna. In reality, it depends on who you ask. Ask a Filipino and he will say one thousand dollars. Ask me and I will tell you my Social Security of one thousand two hundred makes me rich where I live. Plenty of money but the way things are going now with the dollar it may collapse, and then we will all be poor. It is coming.
Well, I hope not. I am happy to hear your 1.2k feels good and is enough 👍 Thank you for sharing
1,600-4,000 upper middle class?
No, anything over 2,700 a month youre basically rich there.
4,000+ a month you're like a multi millionaire over there.
Thanks a lot. That is big money
Not everywhere in the Philippines. Almost though.
Yeah not true , my budget is $4,100 per month. I live in Angeles City for 7 years and own my own condo. Dont drink dont smoke.
@@michaelbyrne5469 you're overspending somewhere. Probably on escorts or alot of dating. I literally live off 2k in LA, one of the most expensive cities in the US. What more in the Philippines where that amount would be worth more. I don't drink or smoke either. I also know locals in the Philippines whi live off like 500-700 usd a month in alright homes.
I seen nice condos for 600-700 usd a month. An extra 800 should cover all other necessities. If youre not going out alot and taking grab everywhere. If you rent a decent home and live like locals, ive seen some go for 300-500 a month.
@@jhnyjoejoe69 I have no intention of saving money , i lived is Scottsdale Arizona where i was a casino manager for plus 20 years. Own a top end condo here 5mil. Just got back from Boracay 3 night my hotel was cheap only $150 per night other 4 nights were plus $500 per night discount, got a great deal. I eat lobster at least twice a week tons of shrimp, buy my own custom US steak 4100 per kilo. I am trying to do that live like a king thing, that takes plus $5,000 per month. I am married , when we travel i always rent private boats also try to get speed boats when possible. They go cheap here , only $100 per hour. If this was in the states it would cost me a fortune here i can travel all over the place and sometimes squeak by on my $4,1000 budget. Luckily that still allows me a lot of wiggle room. Passive income is set at $6,7000 a month for life.
I will be earning $4,100 once I turn 62 with pension and SS seems like a good idea to move there
You'll live like a king here, esp. If u move to a provincial or med size city in the PH.
SS will not be around when I retire.
@@blockaderunner yep but you will be still paying
@@mikewilbur5219 yeah yet they send Trillions to Ukraine, they're Trying to sink us and make off like bandits in the process, helicopters back to Tel Aviv
Hey Mike, that is a lot here. No incomes worries for you. Congratulations and see you soon
Wat talking no need 2 o 3000 I have house in cavity very small spending not like jou
Very nice. Congratulations. Sounds like a nice area
@@PaulWorldZoom ewen in Europe I spent 1500 dollar whit food and rent
@@PaulWorldZoom philippines is not a cheap country find out how much milk chees meet jou want surprise if jou checkt all prices je it’s difficult