A grown man (50's 60's 70's) without Income & Savings "Should Not be Moving to the Philippines" .. If a "grown-up" needs that explained to them, they've already in trouble ..
@@thomasauslander3757 lol people act like Philippines is some utopia of amazing sun year round. Reality is many monsoons happen from May to October of several raining days. Those will wash away tents and make your life way more miserable than Oakland which last time I checked has never had hurricanes. Tents don't work in most parts of Phils
100% correct, yet there's scores of Americans that just don't learn, that watch videos like this & still don't get it. I've personally been telling people around me this, but it's almost always fallen on deaf ears. Like my great grandad used to tell me 'common sense isn't very common, even as people age'
Thanks for sharing! This is what every expat needs to hear. I stayed in the Philippines for 4 years, my bank kept locking me out of my account because I was using my card in a foreign country even though I told them I was going to be in the Philippines. There was no fixing the problem short of me spend $1400 to fly home and fix it myself in person. Even the Chase branch in the Philippines was no help. Once taken care of I went back to the Philippines just to get locked out two months later. I had to fly back again but this time I added my sister to my account so she can take care of such matters. The branch manager assured me it wouldn’t happen again. Well it did, two more times but she took care of the matter. Great sister! One other thing. You have to learn to say no to people and learn when it’s time to walk away from a bad situation or relationship that’s sucking the financial life out of you because if you don’t, you will end up broke and alone. Thanks for the great advise.
Thanks, all good points you make. I think access to your money is number one for me. If you cannot get to your money everything else spins out of control.
I am not an expat (yet) but I think it would make sense to open a local bank account wherever you are, and do regularly scheduled wire transfers from your stateside or home bank (if you are not from the states) to your new local bank. Yeah, you might have to pay a small fee but I think it would be worth it. Seems like that would alleviate a lot of similar issues.
Wow , all you had to do was have a relatives phone number on your bank to call as your number . Then when you get locked out they will send a code to that phone reset your password and you good , happens about twice a year to me.
Its simple.... If you don't have any life management skills in your home country.... you will just repeat the same behavior in a far away place... and you really don't want to be somewhere else...
Tell your boss at the SSA that not having a MANDATORY NOTARIZATION OR CERTIFICATION SIGNATURE is opening U.S. tax payers to FRAUD . That's probably the reason we are going to run out of SSA money in 2034 .
Getting homeless when you're old and in a foreign country is probably the worst situation imaginable. At that point these people need to get their butts back home. I think once I hit 70s way down the road I am going home regardless of the income and just traveling small trips
Easier said than done for some. Some expats have nothing to go back home to. And if they come from a cold country and have to go back home and be homeless in the snow, it can be worse than being homeless in a warm place like the Philippines. If they're from a country like America and they go back and be homeless, they can get various types of assistance from government and other charitable organizations, but their lives still won't be very comfortable. It's a very tough situation to be in, especially when you are old.
Its easy to see that you genuinely care about the well-being of others. Whether people take your advice or not, it's great that you do this for the benefit of others.
One very important factor is if you have a lady who's with you through the ups and downs. I was very lucky to have found one. Without going into too much detail we hit a financially changeling period. I fortunately found a job that 1k USD a month. Eventually she found a job as a hotel cleaner, moving up to hotel cook and finally as front desk/ manager. She enjoyed it and was a fast learner. After many years my 100% disability kicked in. I forced her to quit and enjoy my $5,400 monthly. Unfortunately we're so used to living on tight budget that she finds it painful to spend money. Our rent is only 5,500 pesos or $120 but now I use the AC 8k pesos or about $200 monthly. I'm so grateful to have gone through rough times with her and not alone.🙏❤️. The writing of this comment we have been together for 9yrs and a 6yr son. Fortunately her family is far away and still believes we don't have money. 😆😆😆
@@marianeil6630 really cheap. Should be 7 or 8k. I've been living/ jumping around in the same area for years. After a while you can find good deals. Another plus I know the language. I'm in Angeles City
The issue is that they like to spend recklessly. People also need to remember that people in these countries can be parasites. People need to be smart wherever you live and you can be lonely even in your own country with no help.
Its very important not to become a victim of your poor choices in life especially overseas. The future is unpredictable using the present to prepare for tomorrow the best you can.
So true! my strategy is to save as much as possible. I'm blessed to have more than one retirement pension. We fly home every year,visit the family & bring back enough funds for the current year - let my pensions just save throughout the year while we're away. We have one bank in the Philippines (savings) and one bank in the USA (savings). Been married to a Filipino for over 10 years, paid cash for our home and living the life that God has blessed us with. 💞
So glad ill have my Filipina wife in tow,,since she got her US citizenship that also solves alot of future issues..Great message as always,,I always tell my kids watch your money because no one else will..
Probably why many old men end up homeless in PHL is they have health problems, many of them mentally ill. They think that their Social Security benefits or Disability benefits is plenty of money for their lifestyle. Then they don’t factor into the equation that medicine and medical expenses are less expensive in PHL but if they’re hospitalized or incapacitated due to illness. They will NOT have anyone who can help them, they don’t have that “security net” of family support or government assistance programs that they would in USA.
Great video Steve as I actually helped Derek @ Q adventures get 79 yr. broke ill-health Ken back to UK as none of us wants to end up alone with nothing with failing health and the worse part was having no friends or backup plan ending up overstaying for years. Thanks as this IS the Greatest fear and something we all need to guard against.
Good 👍 advice! I traveled to and from The Philippines 🇵🇭 for 25+ years, including last year, 2022. Homelessness was never a problem for me. Your advice will help even more! 😃
A bunch of retired expats who get SS got their payments cut off in March 2023. The SS office in Manila will personally handle the 7162 forms after the benefits get cut off. This would be for folks in the region like southeast Asia. I had to send it in April to the Manila for my father who lives in Vietnam. All benefit payments get restored retroactively. It is a pain in the ass to send it to Wilkes Barre before the benefit cutoff in March, but at least we know the Manila office is there as a last resort.
well yes if the US Embassy has opened back up the last time I tried they are still playing the COVID rope a dope my friend tried going just a week ago turned away.
A lot of people never realize how much their families have looked out for them in the past then they head off to a foreign country with no family support only vultures looking to take and low and behold they end up in a tough spot and have no clue how they ever got there in the first place.
I was retired in Santa Cruz CA Renting a studio apartment. My landlord said she was going to double my rent. So I moved to Tx and bought a small home for $23k. Now I have no debt no rent no mortgage no bills. Life is good.
Wow. 23k ? I wish there was those sorts of things in Nz. Heck if there was any house for 10 times that, I would move there.😂. But you made a wiser move than moving to foreign country and start over in a very unfamiliar environment
@@afrivox Don't know when he bought or where but NOT going to find a $23K home in TX near any major city. Maybe out in BFE somewhere. Good TX homes not cheaper any more even a smaller basic one.
I have a question for you.. how do some expats take 10 to 20 years of a vulnerable young womans life and not leave them a pot to piss in. Guys living on this type of budget take the best years of some of these girls lives and leave them with nothing. nobody ever talks about that aspect of the philippine dream.
Probably because this is a channel about the Philippines? The point is so true. These guys whine about what these women are “taking them for,” but never think what these women are giving them. If your only thought in life is making sure no one takes a single penny more from your $1600 a month than what it takes to get laid, then for sure you shouldn’t be getting married.
I've always felt like both people are using each other and they get what they get. However, if she stays till the end she should own a house and a car for her troubles at least.
Good point. I either spend my money on retirement for the two of us or life insurance for my wife after I pass. It is tough accumulating money in the Philippines. I did buy my wife an empty lot in a good location (that is land banking) but I am not able to buy a business annuity for my wife. The Filipino’s want too much money and I do not buy unless I can get roughly 1% of purchase price in a month. I can’t get that, so I land bank.
You can notarize documents via an online notary. I did this for a property transfer at the end of my divorce. The notary was in Idaho and I was in Quezon City.
@@hansreynders6853 It is an online service and the document was accepted by two legal firms in San Jose, California and the notarized document was used to transfer property (Santa Clara County). I can dig out the link but a deed to $900,000 property was transferred to only my ex's name this way. There were zero issue. The who online notaries (which involved a Zoom meeting and sharing IDs) is a biproduct of Covid.
Love your channel your always straight forward to the point. What i do is alway leave cash with someone you can trust in the US for Emergencies they can easily wire the money to you i leave my sister 5k when i go the Philippines 🇵🇭 when i go for a month or 2 Great video.
“Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery” ― Charles Dickens, David Copperfield
Hi Steve, Great advice everyone needs to listen to. Sometimes grass is not greener on the other side. I decided to test fire the Philippines first for about 6 months mostly because of health reasons not financial reasons. Thanks you for your excellent advice. Stay safe, stay healthy, have fun.
I live in Thailand. I avoid ladybars and those that frequent them. For the most part, those that habituate bars, end up broke or close to it because of poor choices. Boozin and short term relationships are a dead end.
Short term relationships are neither good nor bad. As always, it is a matter of self control and discipline. If you master control over your actions you will be able to live within your budget and treat yourself with a ST candies from time to time. If you let other people leach from you then any relationship can become a catastrophe. We have heard enough stories of expats who have lost all their life savings to canny long game players in Thailand.
Basic common sense will help any expat from being homeless in any foreign country. Plan ahead and keep your finances in order. Avoid gold diggers at all cost.
Repatriation loan it's good to know. This is the 1st I heard of this.Thanks for sharing. You always have good information Steve I really appreciate your blogs.
remember they don't give it to you right away. They will ask first call at least three people in US and ask for money and only after no one gives you a loan they will buy you a ticket and it might take long time
Hi Steve if you have more information of other places it would be greatly appreciated. I noticed the videos was 3yrs ago.lol. I'm soon moving to Manila and be looking for an apartment to rent.
Have to plan longterm before you come to the Philippines. Map out every scenario and what happens if something goes wrong. However if you didn't plan, then recommendation is go to the US embassy and seek assistance there.
Filipina women specially when you are old will leave you once you get sick and no money. Be wise and save money. No young woman will be with an old foreigner who cannot give her money. Be real
If it is your karma to end up broke and on the street somewhere it will happen despite your best efforts. When you see a person down and out, just say to yourself: "There, but for the grace of God, go I".
I have my SS and Pension direct deposited into my US bank account. Then I do a wire transfer every 3 months from my US bank account into my Philippine bank account. I have never received a proof of life letter. I have been living in the Philippines for 7 years now. I am extending Tourist Visa's. I am a Tourist, so I have not told SS or my pension company that I am living in the Philippines. I maintain a residence address in Calif. and a Calif. driver's license, as well as my Calif. bank account. In the US Doctors are required to notify SS of your death. So, they do not send out proof of life letters. Well, they might if you turn 102 years old. LOL I am 75 years old now and started drawing SS 10 years ago. I have never received a proof of life letter or had my SS cut off.
How do you get your mail in case SS or the pension fund is trying to contact you ? I had my pension cut off for a month here in the U.S. recently because I didn't answer mail due to me moving across town. When i called they said we assumed you died LOL I then had to send s fax with my new address SS number and signature . Then I was wait another month to receive my check direct deposited as usual .
The same here with me. I have never got one either and I also have my CA address and my direct deposit to my bank in CA. I do file and pay my federal and state taxes every year so never have I received anything from the SSA about showing proof that I still live. Amen 😂❤
I totally agree that your budget should not be your income. There is no reason why you shouldn't have savings for a rainy day, and if you have someone constantly sucking you dry financially, then you may have to rethink that relationship. Some will try to get you locked in and try to get you to build a house or buy big ticket items. Many times, it's their parents or family members who are pushing them, and you will be surprised how many people get sick and try pulling the heart strings to get cash out of your pockets. Your budget should include everything to cover all your monthly expenses, including your own personal paycheck. After the monthly budget is taken care of, then whatever is left can go into a wants savings like a trip or vacation. There is no such thing as extra money and the money you get is not free money. Never pay for everything and just contribute what you feel is appropriate for you. Remember that your girlfriend or wife needs an income to, and if you want her to be a housewife, then you will need to give her a modest allowance. She is working when she is cleaning the house and doing your laundry and cooking for you, yes she is also doing it for herself but how would you feel if you didn't have any pesos in your own pockets. 10k pesos is a good amount for her ayuda, and she can do with that as she will . If she wants to give part of it to her family or go buy shoes, then she can do that without having to ask you for money all the time . After being there for a while, you will get an idea of how much groceries and sundries costs along with the other monthly costs so you can get a good rounded off budget. You both will need Healthcare, and depending on how old she is and how well she has kept up on her maintenance will determine her medical needs as well as your own. Treat her like a live-in maid with benefits, and I say this respectfully as she has worth to you just as you have worth to her . This need for each other is the glue that will hold your relationship together through the good times and the bad times.
remember men who are first time going to the Philippines. don't get blind to all the young sexy Filipinas coming up to you. remember they know the game and you don't yet. don't get school or think you have more money than them that you are better than them because they will and know how to take you to school. Philippines is my favorite place on earth to go because of all the relaxation however know this that the people are poor and trying to survive daily. buy a small chain from Robinson store with locks and lock the suitcase up attached to something. from willard
A homeless person in the states should stay in the states because there’s so many benefits. There’s SSI, free cell phone with service, lots of free food publicly and privately sponsored, free clothing/shoes, free college tuition, free healthcare, free dental care, possible affordable housing, subsidized or discounted electricity/landline phone service, cash aid, free or heavily discounted internet service, etc,etc, etc. Plus Medicaid or equivalent depending on your state.
I was stationed at Clark many years ago. I was shocked at how many expats lived around the base. Many were broke and begging for a few pesos. I tried to help a few during my time, but at some point, if they are stupid enough to get into that kind of situation, they deserve what comes as a result.
Thanks again, Steve. This is a big fear to many including myself. While I have a decent SSDI and some dividends that puts me a little above the average numbers you have shown in another video, I;m still 7th Fleet enough to know that "a fool and their money are soon parted." I have seen a couple of clip of unfortunate souls who ended up on the streets over there. "Window !:. Thanks again, Boston!
More good info from Steve. The SS form is 7162. I can relate. Nagsugod ko isip ilo nga walay balay. Wala ko mutingog hantod nag 5 yrs old ko . I. used ka hamtong nga lalaki sa 7 ka tuig ang panuigon. The Irish adopted me and helped make me strong. I'm 25% Pinoy and 75 Iirsih /English. Everywhere is our home so think like that and they and always try and make good decisions because if you make a bad one.. you will need to make up more decisions and they will need to good. Merry Christmas and 2024. Stay calm and focused.
"Many" maybe an over stating it. I've known some and most eventually make it home. People coming to the Philippines with 25,000 or 50,000 dollars or whatever amount and expect to live on that aren't going to make it. I've lived off my military retirement here in the Philippines for 8 years and just started getting social security which is just icing on the cake. I setup a virtual mailbox using Texas as my address because no state income tax. Filed social security while back in the US and used a USA address so no problem with proving I'm alive.
Steve, your channel continues to be a must read/hear channel. It is easy to get caught up in the excitement of a visit. Much more prudent to be fully prepared and your boy scout reference was apropos! Salamat!
I have one bank account at PNB and one savings account at BDO. I need to make a deposit every 6 months or they go dormant. When I retire, each year, I can spend 11 months in PI and one month in the USA.
It all depends on the expat...He needs to live in any place Wisely...And that applies wherever he lives! Be it Thailand,Singapore,Malaysia,Philippines,Vietnam,etc..etc..
Damn, homeless in the Phil's is pretty hard to do if you can rent a place for as little as 100 bucks a month. If those guys were living in southern California like me they would definitely be homeless. Rents for 1 bedroom run about $1,800 to $3,000 a month depending on the city. Even the rents in many of the low class areas will cost you $1,800. You might get lucky and find a "Slum Lord" with rental as low as $1,500 a month. The good news is tent camping on the public side walks are legal in many cities! Walmart tents are about 100 bucks and side walk is rent FREE. LOL
Steve it sounds to me like piss poor prior planning and men that weren't good at planning things in their home country are the ones that end up in a bad situation there. In my opinion with these individuals it would have happened there or back home in their home country.
@@EB-jf5oi Yes same with me..I have been here for 15 years I don't think I've seen 3. Typical you tuber He always exaggerates ... Many expats in the Philippines homeless ....Ahh no bs....
If people don't have social security or a pension of at least $1000 per month they shouldn't try living in the Philippines in my opinion. There are no jobs over there for foreigners and businesses never work out. Didn't know of that proof of life. Is that a form that needs to be filled out every year?
Besides not getting married and not buying property under your wife's name, If you can't save 2 years worth of living expenses in the Philippines and don't have an escape plane ticket back to the US, don't do it.
You can usually spot the ones that are heading for trouble. They're the ones that have created this new "50-cent Title" for themselves overseas. Back home, they were just some lowly Shipping and Receiving night supervisor at some regional Auto Zone warehouse somewhere. But here, they're suddenly an "Overseas Logistic Coordinator for a large multi-national conglomerate"!
it’s not the Philippines only. many poor countries are difficult to go back and live in retirement. most relatives think that you are wealthy and constantly ask , need or solicit money. at the end of the day you are as poor as you were in US. 🙁I planned to retire in my spouse country of origin but they always have an emergency. I don’t mind once in a while but I feel that they expect us (me) to supplement their income while they have little stress back home I’m working long hours and saving money for retirement. Definitely I reconsidered and those plans are discarded. I will visit for a couple of months and come back to my home and have the conveniences i’m used to.
I would not discard my plans to retire in SE Asia simply because some people over there feel entitled to have my constant financial support. It is their problem, not yours. Do not try to be nice to people who clearly try to take advantage of you. They are leaches and deserve neither your attention nor your respect. Simply ignore them.
Great video Steve. Thank you. Yea. That's why I gave up on the idea of Asia for retirement. Too far from the US. I'm looking at Panama or Argentina instead. I also waited to file for social security to have enough cash flow each month to afford my decrepit years. I'm at 68.5 years old and I just filed for social. I'll be getting a US passport next. Hopefully, an exploratory trip to Panama later this year.
How about: if a person is living off a small income to begin with, then they've probably not been doing well their entire life. That isn't going to change just becasue you change your address.
It IS possible to live on a small income in SE Asia… IF you stop living like an American and adopt a “local” lifestyle AND local diet. If you drink alcohol then STOP drinking alcohol. Quit the tobacco habit (if you have one.) Both of those cost you money and mess with your general health. Stop eating an American diet and learn to cook local style. Shop for fresh fruits and vegetables at the wet market. Food there is fresher and way cheaper. Quit eating beef. Eat local caught fish… OR become a vegan. Get yourself a rice cooker. Get out of that expensive high rise apartment in the city and find a place to live in a smaller town where rents are way less. An American can live comfortably and cheaply (in SE Asia) by observing how millions of the local ppl can get by on so little. Mainly by ditching those diet and lifestyle habits brought from the US and ‘going native.’
That is a dumb generalization Ranger. Maybe you are focused on making money during your productive years only to have a lot of it at retirement. Me, I preferred to live life to the fullest, be happy and enjoy, not limited to retirement only. No, I can't build a castle, but I can live happy in whatever circumstance I am in.
The bank system , hospital is differ, laws, electric system , food differ, water differ , city is unclean. . Family not there , it a third world country . ( not down grade it ) it just Fact no or few government help especially for foreign .,,
Hey my friend good content I watching CZcams and I see a lots of homeless foreigners in the Philippine that’s why I’m not going to live in the Philippine because I’m not going to take that chance because I work very hard all my life in the united state thank god I find a wonderful Filipina and she lives right here in the state with me and she is working and she helps me with the bills and I am grateful and she doesn’t have any children and we are getting married next year I am retired and I get social security and a pension my income is between me and my fiancé $6000 monthly and we only spend $1500 monthly payments like light bills and the internet and the rent my rent is $800 monthly
The US has a Social Security Agreement with many countries. IDK if the Philippines subscribes to that agreement but if it does, receiving Social Security should not be a problem.
I have been in PH for 7 years. Filled out 2 proof of life for ssi and never had to have them notarized. The first one i did not get and was shut off for 3 months till i could get the form to them.
Steve "when you self-deceive soon reality will concede to the wants you can't feed, with nothing left you'll find neither sleep nor peace, loneliness will refuse to assist and decease, the demands of life come with a price, never again to feel the warmth of life"
But wouldn't they still their little SS money ? I mean if you don't have regular non-job related income like SS or vet money, it is always risky to go live in the Philippines or any country for that matter, especially where you are not covered by any social assistance. I have been working remotely for the last 7 years but suddenly my job ended this month. It would have been easy for me to think I had a remote job and be tempted to move to those countries and go digital nomad but I knew this wasn't forever and that i would need to find a job in my city one day.
Passport card in your wallet is a really good idea. Didn’t think about that when I got my new passport and didn’t get it cause it was an extra $30 I believe but I’m going to go ahead and get one
There are many very cheap places in the US to live, especially in the Southern states. Very low property tax, etc. And many are a few hours from a major metropolitan area/city. Medical can still be an issue for some. Sadly, most Americans live a mindlessly hedonistic existence in their youth and pay a heavy price in their old age when it comes to health and financial issues.
The point is when you're overseas, there's typically no one to look out for you or your boneheaded mistake. Which means you must be accountable for your actions. Something that's going on less and less in the US. Also, I'm not so certain the Philippines is the best country for me. The time us coming soon for me to do a cursory trip around Asia to find out where I will settle. Then I'll come back to the states organize my affairs and make my way back to where I belong.
You are absolutely right. If you're planning to live until you die here in the Philippines you have to have a person to look out for your best interests. If you're single and don't want a wife or girlfriend then at least get a lawyer to hire a caregiver and have both looking out for you. They have some good nursing homes in the Philippines that are not expensive. Health insurance is key to survival as we get older. Knowing I'm going to die here in the Philippines I cut off my Medicare part B why because they were charging me $230.00 a month I got Pacific cross insurance at $155.00 a month. The $75.00 dollars I save every month goes right into my emergency fund. If your married and want your wife to manage your affairs after your dead you better have a living well and it doesn't hurt to have a power of attorney give her all rights to speak on your behalf, you would think being married would survice but know how families can get just better to cover her and you. I will say it until the day I die the best thing I ever got from your channel is to have a note book with all your information in it that your wife will need to access after you're gone. I do have a safe with 2 months worth of monthly budget along with my information binder for my wife and sister in law to get when the time change comes. Good video Steve.
After living in Philippines for a couple of years, marrying there, and moving to Europe, I will say for a lot of guys it makes a LOT more sense financially and emotionally to find a cheap country to live in closer to their home country, and then take holidays in various Asian countries. Forget about marriage, children and staying in another part of the world full time. You make yourself and your spouse unhappy in the long run, and gain nothing but heartache and trouble.
Why would anyone decide to move to a foreign country without a guaranteed recurring income? If you haven’t retired from the military, or some other government job, with their retirement income, or if you’re not working remotely doing computer work, or if you don’t have the highest level of Social Security, you need to stay your a$$ at home!
yes, very well said and let me add don't tell the Filipina how much money you have. this is a big mistake meaning the Filipina will ask or want to know how much you have because they can use that to fix their house up in the province. act like you are poor and a simple spender and not Bragg on how much money you have. if you don't have a credit card keep some emergency money in your bank and call your bank to put it in your debit card to get home. I lock my suitcase up in my apartment and chain it up to something because Philippine people will break in trust me. my 13 years in and out of the Philippines be careful enjoy the Philippines however what can go wrong will happen in the Philippines trust me.
Ssa 7162 or ssa 7161 must be filed yearly...akso if you plan to stay longer than 3 months a ssa 21 must...bee filed...both of these must be filed...or lose your check
Hi Steve, This video prompted me to ask you this question: do you need to give your social security number when checking into a hospital, or to open a bank account in the Philippines?
@@gratitudetouniverse3754 my alien residents card. When I went into reapply for my visa I told them I planned to be in the Philippines for a year so they issued me a ACR saying who I am. Another form of Identification.
A grown man (50's 60's 70's) without Income & Savings "Should Not be Moving to the Philippines" .. If a "grown-up" needs that explained to them, they've already in trouble ..
It proves that wisdom doesn't always come with age.
Homeless tents looks better with ocean view than the streets of Oakland..
@@thomasauslander3757 lol people act like Philippines is some utopia of amazing sun year round. Reality is many monsoons happen from May to October of several raining days. Those will wash away tents and make your life way more miserable than Oakland which last time I checked has never had hurricanes. Tents don't work in most parts of Phils
@@youngandfree93 alright you're convincing me, staying in Oakland..
It's those bitting bugs would be the deal breaker.. 🦟
100% correct, yet there's scores of Americans that just don't learn, that watch videos like this & still don't get it.
I've personally been telling people around me this, but it's almost always fallen on deaf ears. Like my great grandad used to tell me 'common sense isn't very common, even as people age'
Thanks for sharing! This is what every expat needs to hear. I stayed in the Philippines for 4 years, my bank kept locking me out of my account because I was using my card in a foreign country even though I told them I was going to be in the Philippines. There was no fixing the problem short of me spend $1400 to fly home and fix it myself in person. Even the Chase branch in the Philippines was no help. Once taken care of I went back to the Philippines just to get locked out two months later. I had to fly back again but this time I added my sister to my account so she can take care of such matters. The branch manager assured me it wouldn’t happen again. Well it did, two more times but she took care of the matter. Great sister! One other thing. You have to learn to say no to people and learn when it’s time to walk away from a bad situation or relationship that’s sucking the financial life out of you because if you don’t, you will end up broke and alone. Thanks for the great advise.
Thanks, all good points you make. I think access to your money is number one for me. If you cannot get to your money everything else spins out of control.
I am not an expat (yet) but I think it would make sense to open a local bank account wherever you are, and do regularly scheduled wire transfers from your stateside or home bank (if you are not from the states) to your new local bank. Yeah, you might have to pay a small fee but I think it would be worth it. Seems like that would alleviate a lot of similar issues.
@@tombkk1322he could of just switched to a different bank, 250k expats are having no problem.
Wow , all you had to do was have a relatives phone number on your bank to call as your number . Then when you get locked out they will send a code to that phone reset your password and you good , happens about twice a year to me.
Charles Schwab high interest checking account.
Its simple.... If you don't have any life management skills in your home country.... you will just repeat the same behavior in a far away place... and you really don't want to be somewhere else...
Total agreement with that view.
You hit the nail on the head!
Wisdom is learning from other’s mistakes
Being disciplined and organized can save one’s life
Yes the the best education you can get is "Learning from other people's mistakes"
No dictionary had that definition. You making up things again?
Hi Steve. I work for SSA, and FYI, the U.S. "proof of life" form does not need to be notarized or certified. It just needs an original signature. 👍
Yes, you can only sign things if you are alive
Thanks for the info!
But many Retirement boards want it notarized
Tell your boss at the SSA that not having a MANDATORY NOTARIZATION OR CERTIFICATION SIGNATURE is opening U.S. tax payers to FRAUD . That's probably the reason we are going to run out of SSA money in 2034 .
I live in Cebu. My ASRS retirement required a notarization. The SSA did not.
Getting homeless when you're old and in a foreign country is probably the worst situation imaginable. At that point these people need to get their butts back home. I think once I hit 70s way down the road I am going home regardless of the income and just traveling small trips
Easier said than done for some. Some expats have nothing to go back home to. And if they come from a cold country and have to go back home and be homeless in the snow, it can be worse than being homeless in a warm place like the Philippines.
If they're from a country like America and they go back and be homeless, they can get various types of assistance from government and other charitable organizations, but their lives still won't be very comfortable. It's a very tough situation to be in, especially when you are old.
Some rather be homeless in the Philippines than be homeless in their home country.
@@k9companion231 Better to be homeless in a warmer weather county with cheap meals for 60p and haircuts for 80p.
@@BigbadassHealth Care?
Very true and we have seen a few of these people on CZcams already.@@k9companion231
Its easy to see that you genuinely care about the well-being of others. Whether people take your advice or not, it's great that you do this for the benefit of others.
Thanks 🙏
One very important factor is if you have a lady who's with you through the ups and downs.
I was very lucky to have found one. Without going into too much detail we hit a financially changeling period. I fortunately found a job that 1k USD a month. Eventually she found a job as a hotel cleaner, moving up to hotel cook and finally as front desk/ manager. She enjoyed it and was a fast learner.
After many years my 100% disability kicked in.
I forced her to quit and enjoy my $5,400 monthly.
Unfortunately we're so used to living on tight budget that she finds it painful to spend money.
Our rent is only 5,500 pesos or $120 but now I use the AC 8k pesos or about $200 monthly.
I'm so grateful to have gone through rough times with her and not alone.🙏❤️. The writing of this comment we have been together for 9yrs and a 6yr son. Fortunately her family is far away and still believes we don't have money. 😆😆😆
Greenland! 😂
What part of the Philippines you live?? That's pretty cheap rent.
@@marianeil6630 really cheap. Should be 7 or 8k. I've been living/ jumping around in the same area for years. After a while you can find good deals. Another plus I know the language. I'm in Angeles City
@@Bigbadass kapangpangan.
@@marianeil6630 Pampanga???
You're a good guy Steve, the Philippines is sadly lacking in Americans like you.
The issue is that they like to spend recklessly. People also need to remember that people in these countries can be parasites.
People need to be smart wherever you live and you can be lonely even in your own country with no help.
Its very important not to become a victim of your poor choices in life especially overseas. The future is unpredictable using the present to prepare for tomorrow the best you can.
Every expat should watch this. There are a lot of lessons to learn. Thanks for your time and effort!
I appreciate that!
Lack of source of income, being scammed and getting with the wrong crowd can lead to being broke
Do you think they will ever learn ?
@@jeffbeck8993 and being the ATM machine for the family.
@ck8993 alcohol is a very addicting drug, im glad you got out of it.
So true! my strategy is to save as much as possible. I'm blessed to have more than one retirement pension. We fly home every year,visit the family & bring back enough funds for the current year - let my pensions just save throughout the year while we're away. We have one bank in the Philippines (savings) and one bank in the USA (savings). Been married to a Filipino for over 10 years, paid cash for our home and living the life that God has blessed us with. 💞
You like to boast about things
He is lazy too, he let god make it all come easy for him.
So glad ill have my Filipina wife in tow,,since she got her US citizenship that also solves alot of future issues..Great message as always,,I always tell my kids watch your money because no one else will..
How did you meet her?
Probably why many old men end up homeless in PHL is they have health problems, many of them mentally ill. They think that their Social Security benefits or Disability benefits is plenty of money for their lifestyle. Then they don’t factor into the equation that medicine and medical expenses are less expensive in PHL but if they’re hospitalized or incapacitated due to illness. They will NOT have anyone who can help them, they don’t have that “security net” of family support or government assistance programs that they would in USA.
Great video Steve as I actually helped Derek @ Q adventures get 79 yr. broke ill-health Ken back to UK as none of us wants to end up alone with nothing with failing health and the worse part was having no friends or backup plan ending up overstaying for years. Thanks as this IS the Greatest fear and something we all need to guard against.
Good 👍 advice!
I traveled to and from The Philippines 🇵🇭 for 25+ years, including last year, 2022. Homelessness was never a problem for me. Your advice will help even more! 😃
A bunch of retired expats who get SS got their payments cut off in March 2023. The SS office in Manila will personally handle the 7162 forms after the benefits get cut off. This would be for folks in the region like southeast Asia. I had to send it in April to the Manila for my father who lives in Vietnam. All benefit payments get restored retroactively. It is a pain in the ass to send it to Wilkes Barre before the benefit cutoff in March, but at least we know the Manila office is there as a last resort.
well yes if the US Embassy has opened back up the last time I tried they are still playing the COVID rope a dope my friend tried going just a week ago turned away.
A lot of people never realize how much their families have looked out for them in the past then they head off to a foreign country with no family support only vultures looking to take and low and behold they end up in a tough spot and have no clue how they ever got there in the first place.
I was retired in Santa Cruz CA
Renting a studio apartment.
My landlord said she was going to double my rent. So I moved to Tx and bought a small home for $23k.
Now I have no debt no rent no mortgage no bills. Life is good.
Wow. 23k ? I wish there was those sorts of things in Nz. Heck if there was any house for 10 times that, I would move there.😂. But you made a wiser move than moving to foreign country and start over in a very unfamiliar environment
very smart to get the hell out of Cali
@@afrivox Don't know when he bought or where but NOT going to find a $23K home in TX near any major city. Maybe out in BFE somewhere.
Good TX homes not cheaper any more even a smaller basic one.
He should tell us where he bought a home in Texas for 23k. May be a foreclosed one by a bank.
@@sunilrodrigo9778
No I bought it off Zillow.
Coleman TX. 400sqft.
I have a question for you.. how do some expats take 10 to 20 years of a vulnerable young womans life and not leave them a pot to piss in. Guys living on this type of budget take the best years of some of these girls lives and leave them with nothing.
nobody ever talks about that aspect of the philippine dream.
That happens in every country, my question is why are you singling out one country and not a segment of society ?
Probably because this is a channel about the Philippines? The point is so true. These guys whine about what these women are “taking them for,” but never think what these women are giving them. If your only thought in life is making sure no one takes a single penny more from your $1600 a month than what it takes to get laid, then for sure you shouldn’t be getting married.
I've always felt like both people are using each other and they get what they get. However, if she stays till the end she should own a house and a car for her troubles at least.
The expats are WAY more vulnerable than the young women. How much do you think the average Filipino leaves them with?
Good point. I either spend my money on retirement for the two of us or life insurance for my wife after I pass. It is tough accumulating money in the Philippines. I did buy my wife an empty lot in a good location (that is land banking) but I am not able to buy a business annuity for my wife. The Filipino’s want too much money and I do not buy unless I can get roughly 1% of purchase price in a month. I can’t get that, so I land bank.
You can notarize documents via an online notary. I did this for a property transfer at the end of my divorce. The notary was in Idaho and I was in Quezon City.
Yeah, a notary in Idaho will online confirm and sign your life certificate in Quezon city. Don't think so.
@@hansreynders6853 It is an online service and the document was accepted by two legal firms in San Jose, California and the notarized document was used to transfer property (Santa Clara County). I can dig out the link but a deed to $900,000 property was transferred to only my ex's name this way. There were zero issue. The who online notaries (which involved a Zoom meeting and sharing IDs) is a biproduct of Covid.
Love your channel your always straight forward to the point. What i do is alway leave cash with someone you can trust in the US for Emergencies they can easily wire the money to you i leave my sister 5k when i go the Philippines 🇵🇭 when i go for a month or 2 Great video.
“Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness.
Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”
― Charles Dickens, David Copperfield
I pray all expats can find true love in my country Philippines trust God and pray always🙏🙏❤️❤️
I don't know about true love but they can get screwed in more ways than one..
Hi Steve, Great advice everyone needs to listen to. Sometimes grass is not greener on the other side. I decided to test fire the Philippines first for about 6 months mostly because of health reasons not financial reasons. Thanks you for your excellent advice. Stay safe, stay healthy, have fun.
And what was your conclusion?
Sounds like he's not healthy wisely he went back..
I live in Thailand. I avoid ladybars and those that frequent them. For the most part, those that habituate bars, end up broke or close to it because of poor choices. Boozin and short term relationships are a dead end.
Short term relationships are neither good nor bad.
As always, it is a matter of self control and discipline.
If you master control over your actions you will be able to live within your budget and treat yourself with a ST candies from time to time.
If you let other people leach from you then any relationship can become a catastrophe.
We have heard enough stories of expats who have lost all their life savings to canny long game players in Thailand.
Basic common sense will help any expat from being homeless in any foreign country. Plan ahead and keep your finances in order. Avoid gold diggers at all cost.
Thanks for keeping it real. We all have to have a backup plan!
Always!
Excellent advise, this is by far one of your best videos, so much so I shared it on a FB expat group.
Repatriation loan it's good to know. This is the 1st I heard of this.Thanks for sharing. You always have good information Steve I really appreciate your blogs.
remember they don't give it to you right away. They will ask first call at least three people in US and ask for money and only after no one gives you a loan they will buy you a ticket and it might take long time
Hi Steve if you have more information of other places it would be greatly appreciated. I noticed the videos was 3yrs ago.lol. I'm soon moving to Manila and be looking for an apartment to rent.
The ONLY issue is money. There is no higher reality in ANY culture in the world today.
Main thing to remember is there are no support systems over there. No food stamps or rent assistance like in USA.
Looking good bro. Tropical greenery in the background🏝
Have to plan longterm before you come to the Philippines. Map out every scenario and what happens if something goes wrong. However if you didn't plan, then recommendation is go to the US embassy and seek assistance there.
I am so blessed with amazing American friends and my mom. I can't imagine having no one and being here.
Simple-lack of preparation, lack of doing homework before moving, and faulty expectations.
This is what is worrying; no matter how hard you plan it can backfire. I can’t imagine being homeless in another country
Filipina women specially when you are old will leave you once you get sick and no money. Be wise and save money. No young woman will be with an old foreigner who cannot give her money. Be real
If it is your karma to end up broke and on the street somewhere it will happen despite your best efforts. When you see a person down and out, just say to yourself: "There, but for the grace of God, go I".
Steven, you're an inspiration. Again, your advice is priceless. Keep doing the good work, and May God keep blessing bless you as well
I appreciate that!
I have my SS and Pension direct deposited into my US bank account. Then I do a wire transfer every 3 months from my US bank account into my Philippine bank account. I have never received a proof of life letter. I have been living in the Philippines for 7 years now. I am extending Tourist Visa's. I am a Tourist, so I have not told SS or my pension company that I am living in the Philippines. I maintain a residence address in Calif. and a Calif. driver's license, as well as my Calif. bank account. In the US Doctors are required to notify SS of your death. So, they do not send out proof of life letters. Well, they might if you turn 102 years old. LOL I am 75 years old now and started drawing SS 10 years ago. I have never received a proof of life letter or had my SS cut off.
You have a US address. If you have a foreign address, you need to send the 7162 form annually.
How do you get your mail in case SS or the pension fund is trying to contact you ?
I had my pension cut off for a month here in the U.S. recently because I didn't answer mail due to me moving across town. When i called they said we assumed you died LOL
I then had to send s fax with my new address SS number and signature . Then I was wait another month to receive my check direct deposited as usual .
@@jamesmichaelfrankuse your kids address. They can contact you. Assuming you are not a bad dad and your kids gate you.
The same here with me. I have never got one either and I also have my CA address and my direct deposit to my bank in CA. I do file and pay my federal and state taxes every year so never have I received anything from the SSA about showing proof that I still live. Amen 😂❤
I totally agree that your budget should not be your income. There is no reason why you shouldn't have savings for a rainy day, and if you have someone constantly sucking you dry financially, then you may have to rethink that relationship. Some will try to get you locked in and try to get you to build a house or buy big ticket items. Many times, it's their parents or family members who are pushing them, and you will be surprised how many people get sick and try pulling the heart strings to get cash out of your pockets. Your budget should include everything to cover all your monthly expenses, including your own personal paycheck. After the monthly budget is taken care of, then whatever is left can go into a wants savings like a trip or vacation. There is no such thing as extra money and the money you get is not free money. Never pay for everything and just contribute what you feel is appropriate for you. Remember that your girlfriend or wife needs an income to, and if you want her to be a housewife, then you will need to give her a modest allowance. She is working when she is cleaning the house and doing your laundry and cooking for you, yes she is also doing it for herself but how would you feel if you didn't have any pesos in your own pockets. 10k pesos is a good amount for her ayuda, and she can do with that as she will . If she wants to give part of it to her family or go buy shoes, then she can do that without having to ask you for money all the time . After being there for a while, you will get an idea of how much groceries and sundries costs along with the other monthly costs so you can get a good rounded off budget. You both will need Healthcare, and depending on how old she is and how well she has kept up on her maintenance will determine her medical needs as well as your own. Treat her like a live-in maid with benefits, and I say this respectfully as she has worth to you just as you have worth to her . This need for each other is the glue that will hold your relationship together through the good times and the bad times.
remember men who are first time going to the Philippines. don't get blind to all the young sexy Filipinas coming up to you. remember they know the game and you don't yet. don't get school or think you have more money than them that you are better than them because they will and know how to take you to school. Philippines is my favorite place on earth to go because of all the relaxation however know this that the people are poor and trying to survive daily. buy a small chain from Robinson store with locks and lock the suitcase up attached to something. from willard
Well presented. Thumbs up.
The grass is always greener. Just don't go there. Stay home. learn from the mistakes of others.
A homeless person in the states should stay in the states because there’s so many benefits. There’s SSI, free cell phone with service, lots of free food publicly and privately sponsored, free clothing/shoes, free college tuition, free healthcare, free dental care, possible affordable housing, subsidized or discounted electricity/landline phone service, cash aid, free or heavily discounted internet service, etc,etc, etc. Plus Medicaid or equivalent depending on your state.
Great video I subscribed. Made me think and take some precautions. Cheers
I was stationed at Clark many years ago. I was shocked at how many expats lived around the base. Many were broke and begging for a few pesos. I tried to help a few during my time, but at some point, if they are stupid enough to get into that kind of situation, they deserve what comes as a result.
Thanks again, Steve. This is a big fear to many including myself. While I have a decent SSDI and some dividends that puts me a little above the average numbers you have shown in another video, I;m still 7th Fleet enough to know that "a fool and their money are soon parted." I have seen a couple of clip of unfortunate souls who ended up on the streets over there. "Window !:. Thanks again, Boston!
Not following a budget is the #1 reason why people (retired or not) go broke also in the US.
excellent advise
More good info from Steve. The SS form is 7162. I can relate. Nagsugod ko isip ilo nga walay balay. Wala ko mutingog hantod nag 5 yrs old ko . I. used ka hamtong nga lalaki sa 7 ka tuig ang panuigon. The Irish adopted me and helped make me strong. I'm 25% Pinoy and 75 Iirsih /English. Everywhere is our home so think like that and they and always try and make good decisions because if you make a bad one.. you will need to make up more decisions and they will need to good. Merry Christmas and 2024. Stay calm and focused.
Choose a language. Lol
Good advice. Steve there electronic mail services for around $15, 20 that will handle mail. You can read print and delete the junk mail.
"Many" maybe an over stating it. I've known some and most eventually make it home. People coming to the Philippines with 25,000 or 50,000 dollars or whatever amount and expect to live on that aren't going to make it. I've lived off my military retirement here in the Philippines for 8 years and just started getting social security which is just icing on the cake. I setup a virtual mailbox using Texas as my address because no state income tax. Filed social security while back in the US and used a USA address so no problem with proving I'm alive.
Great information great presentation thank you
Glad it was helpful!
There is a U.S. Consular Agency in Cebu that has notary services.
Steve? I saw your article in business insider. congratulations........ blyth (salt lake city, UT)
Thanks
Steve, your channel continues to be a must read/hear channel. It is easy to get caught up in the excitement of a visit. Much more prudent to be fully prepared and your boy scout reference was apropos! Salamat!
It's good Americans holding each other together
Invaluable information, seriously. Thanks.
I have one bank account at PNB and one savings account at BDO. I need to make a deposit every 6 months or they go dormant. When I retire, each year, I can spend 11 months in PI and one month in the USA.
It all depends on the expat...He needs to live in any place Wisely...And that applies wherever he lives! Be it Thailand,Singapore,Malaysia,Philippines,Vietnam,etc..etc..
Good advice I hope people listen
Damn, homeless in the Phil's is pretty hard to do if you can rent a place for as little as 100 bucks a month. If those guys were living in southern California like me they would definitely be homeless. Rents for 1 bedroom run about $1,800 to $3,000 a month depending on the city. Even the rents in many of the low class areas will cost you $1,800. You might get lucky and find a "Slum Lord" with rental as low as $1,500 a month. The good news is tent camping on the public side walks are legal in many cities! Walmart tents are about 100 bucks and side walk is rent FREE. LOL
Good video for anyone abroad , in any country
Steve it sounds to me like piss poor prior planning and men that weren't good at planning things in their home country are the ones that end up in a bad situation there. In my opinion with these individuals it would have happened there or back home in their home country.
I haven't seen homeless expats maybe some but not many. There are a lot of broke and low budget you tube vloggers for sure.....
All the time I have spent in SEA I have seen a few on Pattaya beach and that's it.
@@EB-jf5oi Yes same with me..I have been here for 15 years I don't think I've seen 3. Typical you tuber He always exaggerates ... Many expats in the Philippines homeless ....Ahh no bs....
Good info - thanks for posting
If people don't have social security or a pension of at least $1000 per month they shouldn't try living in the Philippines in my opinion. There are no jobs over there for foreigners and businesses never work out. Didn't know of that proof of life. Is that a form that needs to be filled out every year?
I'm beginning to think some Expats are truly toxic .
Informative video my friend keep up the good work 🙂
A very good chunk of them yeah.
Besides not getting married and not buying property under your wife's name, If you can't save 2 years worth of living expenses in the Philippines and don't have an escape plane ticket back to the US, don't do it.
You can usually spot the ones that are heading for trouble. They're the ones that have created this new "50-cent Title" for themselves overseas. Back home, they were just some lowly Shipping and Receiving night supervisor at some regional Auto Zone warehouse somewhere. But here, they're suddenly an "Overseas Logistic Coordinator for a large multi-national conglomerate"!
it’s not the Philippines only. many poor countries are difficult to go back and live in retirement. most relatives think that you are wealthy and constantly ask , need or solicit money. at the end of the day you are as poor as you were in US. 🙁I planned to retire in my spouse country of origin but they always have an emergency. I don’t mind once in a while but I feel that they expect us (me) to supplement their income while they have little stress back home I’m working long hours and saving money for retirement. Definitely I reconsidered and those plans are discarded. I will visit for a couple of months and come back to my home and have the conveniences i’m used to.
I would not discard my plans to retire in SE Asia simply because some people over there feel entitled to have my constant financial support.
It is their problem, not yours.
Do not try to be nice to people who clearly try to take advantage of you.
They are leaches and deserve neither your attention nor your respect.
Simply ignore them.
All great advice points you’ve made. 😊
Great video Steve. Thank you.
Yea. That's why I gave up on the idea of Asia for retirement. Too far from the US. I'm looking at Panama or Argentina instead. I also waited to file for social security to have enough cash flow each month to afford my decrepit years. I'm at 68.5 years old and I just filed for social. I'll be getting a US passport next. Hopefully, an exploratory trip to Panama later this year.
Absolutely, an excellent video. Thank you.
May Jesus bless you by helping with your advice.
How about: if a person is living off a small income to begin with, then they've probably not been doing well their entire life. That isn't going to change just becasue you change your address.
Ranger - I think you described 90% of these expats.
It IS possible to live on a small income in SE Asia… IF you stop living like an American and adopt a “local” lifestyle AND local diet. If you drink alcohol then STOP drinking alcohol. Quit the tobacco habit (if you have one.) Both of those cost you money and mess with your general health. Stop eating an American diet and learn to cook local style. Shop for fresh fruits and vegetables at the wet market. Food there is fresher and way cheaper. Quit eating beef. Eat local caught fish… OR become a vegan. Get yourself a rice cooker. Get out of that expensive high rise apartment in the city and find a place to live in a smaller town where rents are way less. An American can live comfortably and cheaply (in SE Asia) by observing how millions of the local ppl can get by on so little. Mainly by ditching those diet and lifestyle habits brought from the US and ‘going native.’
If they've been scraping by for 40+ years - they are not going to change. @@noahjuanjuneau9598
AMEN TO THAT !
That is a dumb generalization Ranger.
Maybe you are focused on making money during your productive years only to have a lot of it at retirement. Me, I preferred to live life to the fullest, be happy and enjoy, not limited to retirement only. No, I can't build a castle, but I can live happy in whatever circumstance I am in.
The bank system , hospital is differ, laws, electric system , food differ, water differ , city is unclean. . Family not there , it a third world country . ( not down grade it ) it just
Fact no or few government help especially for foreign .,,
Hey my friend good content I watching CZcams and I see a lots of homeless foreigners in the Philippine that’s why I’m not going to live in the Philippine because I’m not going to take that chance because I work very hard all my life in the united state thank god I find a wonderful Filipina and she lives right here in the state with me and she is working and she helps me with the bills and I am grateful and she doesn’t have any children and we are getting married next year I am retired and I get social security and a pension my income is between me and my fiancé $6000 monthly and we only spend $1500 monthly payments like light bills and the internet and the rent my rent is $800 monthly
The US has a Social Security Agreement with many countries. IDK if the Philippines subscribes to that agreement but if it does, receiving Social Security should not be a problem.
I never hear anyone talk about using a high limit credit card that you never use unless in case of emergency with no fee its safer than cash
I have been in PH for 7 years. Filled out 2 proof of life for ssi and never had to have them notarized. The first one i did not get and was shut off for 3 months till i could get the form to them.
It’s mostly on the Municipal Proof of life forms. I had to do it.
Steve "when you self-deceive soon reality will concede to the wants you can't feed, with nothing left you'll find neither sleep nor peace, loneliness will refuse to assist and decease, the demands of life come with a price, never again to feel the warmth of life"
A lot of this applies to life in the US too - there's little to no safety net here.
The bottom line is.
They married the wrong woman.
But wouldn't they still their little SS money ? I mean if you don't have regular non-job related income like SS or vet money, it is always risky to go live in the Philippines or any country for that matter, especially where you are not covered by any social assistance. I have been working remotely for the last 7 years but suddenly my job ended this month. It would have been easy for me to think I had a remote job and be tempted to move to those countries and go digital nomad but I knew this wasn't forever and that i would need to find a job in my city one day.
Passport card in your wallet is a really good idea. Didn’t think about that when I got my new passport and didn’t get it cause it was an extra $30 I believe but I’m going to go ahead and get one
You convinced me to stay in America.
There are many very cheap places in the US to live, especially in the Southern states. Very low property tax, etc. And many are a few hours from a major metropolitan area/city. Medical can still be an issue for some. Sadly, most Americans live a mindlessly hedonistic existence in their youth and pay a heavy price in their old age when it comes to health and financial issues.
The point is when you're overseas, there's typically no one to look out for you or your boneheaded mistake. Which means you must be accountable for your actions. Something that's going on less and less in the US. Also, I'm not so certain the Philippines is the best country for me. The time us coming soon for me to do a cursory trip around Asia to find out where I will settle. Then I'll come back to the states organize my affairs and make my way back to where I belong.
6:25 eat rice chicken veggies stir fry at home. It is healthy and saves a lot of money on food over the years.
You are absolutely right.
If you're planning to live until you die here in the Philippines you have to have a person to look out for your best interests.
If you're single and don't want a wife or girlfriend then at least get a lawyer to hire a caregiver and have both looking out for you.
They have some good nursing homes in the Philippines that are not expensive.
Health insurance is key to survival as we get older. Knowing I'm going to die here in the Philippines I cut off my Medicare part B why because they were charging me $230.00 a month I got Pacific cross insurance at $155.00 a month. The $75.00 dollars I save every month goes right into my emergency fund.
If your married and want your wife to manage your affairs after your dead you better have a living well and it doesn't hurt to have a power of attorney give her all rights to speak on your behalf, you would think being married would survice but know how families can get just better to cover her and you.
I will say it until the day I die the best thing I ever got from your channel is to have a note book with all your information in it that your wife will need to access after you're gone.
I do have a safe with 2 months worth of monthly budget along with my information binder for my wife and sister in law to get when the time change comes.
Good video Steve.
After living in Philippines for a couple of years, marrying there, and moving to Europe, I will say for a lot of guys it makes a LOT more sense financially and emotionally to find a cheap country to live in closer to their home country, and then take holidays in various Asian countries. Forget about marriage, children and staying in another part of the world full time. You make yourself and your spouse unhappy in the long run, and gain nothing but heartache and trouble.
Why would anyone decide to move to a foreign country without a guaranteed recurring income? If you haven’t retired from the military, or some other government job, with their retirement income, or if you’re not working remotely doing computer work, or if you don’t have the highest level of Social Security, you need to stay your a$$ at home!
Thanks
yes, very well said and let me add don't tell the Filipina how much money you have. this is a big mistake meaning the Filipina will ask or want to know how much you have because they can use that to fix their house up in the province. act like you are poor and a simple spender and not Bragg on how much money you have. if you don't have a credit card keep some emergency money in your bank and call your bank to put it in your debit card to get home. I lock my suitcase up in my apartment and chain it up to something because Philippine people will break in trust me. my 13 years in and out of the Philippines be careful enjoy the Philippines however what can go wrong will happen in the Philippines trust me.
What you’re saying goes for wherever you are, even if you’re in the US!
Ssa 7162 or ssa 7161 must be filed yearly...akso if you plan to stay longer than 3 months a ssa 21 must...bee filed...both of these must be filed...or lose your check
Hi Steve,
This video prompted me to ask you this question: do you need to give your social security number when checking into a hospital, or to open a bank account in the Philippines?
BDO requirements were for me to show my passport, birth certificate, driver's license, my ACR card and last year's tax return.
@@LeonardMarlin What is ACR ?
Bank accounts yes, hospital no
@@gratitudetouniverse3754 my alien residents card. When I went into reapply for my visa I told them I planned to be in the Philippines for a year so they issued me a ACR saying who I am.
Another form of Identification.