How much is considered rich in the Philippines? | Rubeauti street interview
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- čas přidán 5. 01. 2024
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By Filipino standards, even my social security would make me rich. I can see that my Filipina wife likes her new lifestyle. She asked if we could hire a maid. At first I thought, why do we need a maid? It's just the two of us, surely between us we can handle the housework. But ultimately I realized that a big part of it was that she wanted to help out a friend who needed a job.
to be clear, filipino "rich" means eating 3 meals a day, a roof under your head, health insurance, tuition money for kids, and maybe 4 meals dining out with your family and 1 vacation a year. onr used car. No savings.
Western rich means a million $ in the bank that does not get depleted.
@@bureaucrazy1234I would hope that the roof isn't under my head??
@@bigcauc7530 I would never realized it xD
Does she have a job? If she's not working and it's just the two of you then you don't need a maid. What is she planning to do besides shopping? If you have kids then it makes sense. You're contributing your money into this relationship she can't even contribute basic household cleaning/cooking? I would ask other Filipinas what they think don't take my opinion. But if you do get a maid then make sure she presents her police clearance certificate. This way you know her name and identity and you can check if she has any criminal background. I've heard horror stories where someone comes home and everything is gone after the maid and some guys cleaned them out.
in my case personally ,maybe i just need a maid twice a week,not for everyday and not 24 hours. I can manage myself in the Philippines.I am retiree now,living in Germany.
Rich is when you do not have to work and the money keeps coming in to cover your expenses of being comfortably living and never runs out.
I totally agree.
I disagree that is comfortable. Look up the word.
@@EternallyGod The word comfortable was used to describe 'living'. It is a subjective word that allows the reader to decide what 'comfortable living' means to them. What, exactly, do you disagree with? Instead of telling us to look up the word, why don't you give us your definition and explain exactly why you disagree?
@@JohnSmith-ks5xw Words have meanings, you cant decide what the word means. Opinions dont matter, facts are the only thing that matters.
@@EternallyGod I can see the Dunning Kruger effect is in full effect here. Peace. I'm out.
Wow, I was just there in BGC one week ago! I already miss the Philippines so much. Like, I'm going through a crisis right now after returning to the US lol. It's very promising how 50k is still considered rich in 2024 even in the most expensive place in the Philippines! It was so cool to be in your country for 3 weeks. Thanks so much for your videos and for showing me what the Philippines is like.
Interesting so around 1.5 to 2k USD a month is what the top earners think is rich. Ex-pats expenses are all over the place watching Philippines based channels some say 1k others are upwards of 3k to be comfortable. This was a good vid.
The reason it's all over the place is that there is a high range of living conditions and locations. Living like a Filipino could be less than $200 USD for a household. On the other hand a family of 5 living in air-conditioning, with a car or two, and the kids in private schools will need at least $1,200 to $1,800 USD.
That's true. Don't rely on Filipinos comments about it tho especially from ppl who is earning below average here. 50k is rich for them cus that is a very comfortable amount as opposed to their reality. For expats, take the advice from Filipinos who are more than average earners. That is actually more realistic to expat expectations.
Good old expat information online bull sh*t for ether YT clicks or just saying it ~ I do not have a budget, but I will have a budget of $1000 to $1500 when I get there in March 2024 near IT Park because I want that budget? If I did not want a budget, I would just stay in Florida. LOL if you are spending $2000 or $3000 a month, then you are doing something wrong ~ Ether you are at AC at the bars every night with girl bar fines or you are paying $1000 just for rent in BGC or spending time at TGIFriday's at IT Park and paying $20 a plate or a $4 a draft beer of SM Light vs the same beer @ 60 Php beer (just 50 feet away)
Yes and the person who is studying to be a CPA is delusional! Average salary in the PH is 40k a month. So starting is much much lower. @Rubeauti
It's great to see you back making blogs Dai. Keep them coming ❤
Thank you po!
Excellent on the fly (instant) observations you had while you were doing the surveys. Thank you!
Very few people consider themselves rich. That's not only the case in the Philippines, but worldwide. The rich are always those who make more money than you. The one who earns 30K will say 50K is rich, but the one with 50K will say you need 100K to be rich. Maybe we should learn to express our wealth in level of satisfaction rather than in currency. If you earn 30K and you are satisfied with what you have, you are rich. If you earn 100K and you are not satisfied with what you can buy, you are poor.
True. I work in monthly range of 3500$ - 5000$, and for me it's not much, I mean I understand, that I earn like 5% of population of my country, but... due to horrific state of market, you really can't buy real estate, or new car with it in reasonable range of time... and really keep/maintain it in good shape. Like... that sucks. So I think that's why people who are a bit wealthy thinks they're not rich is because of needs to keep up with their lifestyle.
Completely agree!
Richness is when you have everything you need to be happy. Money as instrument and not as the reason of your life.
BIR considers a monthly household income of ₱250k to be rich.
Most the world would still be poor with your theory. Cause like you said they will want MORE!
This is kind of a horrible way to determine something as straight forward as rich vs poor. There are clear metrics. A person's perspective doesn't matter. Someone making a $150k per year and struggling to meet their bills is not poor. They are just bad with money and live well above their means.
Prior to my early U.S. retirement in the Philippines in 2016 my annual commission based salary averaged P14M. I did not consider myself rich. My management team always strived to surpass the amount we earned the year prior and we always did. It’s not that it wasn’t enough but more that of a challenge and to not become complacent.
Welcome back! I missed your episodes
thank you Tim!
Some expats are able to live in the range of $1,500 - $2,000. But, to live in ie. BGC or Makati it might be better to have $2,500 - $3,000 a month as your budget.
Belgian teachers retire all over Asia on 2,000 € / month a person. Some are couples so they have 4,000€ nett income - a month. That is 240K peso a month. And they still complain
If you are living on a budget then that would mean you are not rich. $2.5k USD is just middle class. Not even upper middle class. You could live in a nice place , get a car and budget your expenses. The key word here is BUDGET
@SonnyGulanesPH word to the wise. the truly rich , not the fake/temporary rich, also budget. it's how they got rich to begin with.
the rich didnt get rich by budgeting. Budgeting keeps you from becoming poor, rich comes from asset creation@@bureaucrazy1234
@@woutergijs5246 Yea, the units are so small in BGC I think they expected much larger.
Great content love your approach and the way you make it easy to get an answer
Thank you for this vlog. You have done a great job (!) in taking perspective from people in Metro Manila. Most vlogs are interviews from outside Manila, let a lone outside BGC ... I think you are in BGC (?). It doesn't matter where you are in the globe, being rich is subjective and means different things to different people. Being "financially" wealthy or affluent is a different matter, it is quantitative and varies based on one's preferred lifestyle. I live in the bay area CA and a $9,000/mo income is considered low which for most people outside our neighborhood will be considered a good living income, but for most, it is only living paycheck-to-paycheck.
Yup. That recent survey few years ago said a family of 4 income $ 110,000 in San Francisco is low income. That would be a little over 6 million pesos.
Truly true, I live in Mountain View , Ca. (Silicon Valley) 12k/month and still part of low income in California. Is not how much you make.. its how much you keep.
The ones that are really rich from wealthy countries…. Do their very best to look normal and drive unpretentious cars … they never flaunt their wealth ‼️‼️🇨🇦
Remember … it’s not what you earn , it’s what you spend
Exactly!
I use to live in Tagbilaran and I get $ 2400 a month in pension. I lived on $1200-1400 a month and I live really well. Granted I dont drink or smoke and dont go to bars at all. I also have round $ 60 k in savings and I was really in a sweet spot. Going to move there permanently this year.
Wow that's more than enough!
Man are you poor. My pension and social security alone is $8000 US a month. Wow
@@Midwest10You are a troll.
@@Midwest10embassy in Cebu or a consulate? Details, it is in the details
@@woutergijs5246 6000 Salina’s Dr. Call it what you wish.
Nice street vlog 👍🏽 You nailed it at the end when you commented about the definition of mayaman. It's individual. Good call. Ang kalusugan ay kayamanan 👉🏽 🏋🏽♀🤸🏽♀
Thank you po!
Please do more of these interviews
I don't know who you are, but you are honest and very informative .
Wow..rich by Philippines' standards is Walmart grocery range here in the US.
1.2m, or basically 100k php for 12 months, translates to roughly 21k USD. In the US, the average annual salary is probably sitting at 50k USD a year. It amazes me even with a below average salary can make you well off as far as staying in the Philippines.
Yet, you have western women so out of touch with reality demanding a man to make at least six figures, sometimes even more, not having a single clue that they’re living in one of the richest countries in the world where the annual is already in the 95th percentile of income worldwide.
Thank you for your videos Rubeauti, you do a great job.Thank you for your work.
I know people need money to lead a decent life but it is easy to easy to wind up wanting more and more- until it becomes an unhealthy addiction.
Paul Overstreet covered a song called “The Richest man on Earth”
That talks about that addiction…here are a few verses from the song…
“I’ve heard of millionaires and billionaires and such who gathered all their treasures and still did not have enough.
If money could buy peace of mind I guess they would have it all.But all the money in the world will not hold you when you fall.
we’ve got a roof over our head and the kids have all been fed. And the woman I love most lies close beside me in our bed. Lord, give me the eyes to see exactly what it’s worth. And I will be the richest man on earth.”
I'll admit good question, for this post, nice 1 Rub 😊
Wow 😮 With my 2 modest combined U.S. Pensions= 270K+ Pesos per mon I am considered rich in the Philippines Really ! I will leave Thailand I've been here since 2016 time for a Change i was headed to stay in Cambodia But This is good news Thanks Rabeauti for this info 🙏🏾❤ I will visit Philippines for the first time in February to see it first hand I'm sure it's alot different than watching CZcams Vloggers videos of it , I will try to apply for 60- 90day tourist Visa at the Philippine Embassey in Bangkok I'm originally from NYC I'd like to check out Cebu or Dumaguete to see Which place suits me best.
It's not how much money you make ~ It's "how much you can save" Plus money is just an illusion one day and gone tomorrow! If you can put your money to work to get more money, then the illusion is real!
That's so interesting, what's considered rich there can barely pay bills in the United States, I would suffer with 2k each month but I'm always "rich" when i travel and save so much
Since I've been looking at the Philippines i think it should be up in the top 10 wealthy countries in the world
Phi to me has been held down and oppressed for so long
You have a very good channel. I’ve subscribed so I could keep up with your videos by being on your channel
Rich means you don’t need to maintain a job. These people making $30k+ are just middle class in most societies.
Exact: if you are rich, you don’t work anymore, and certainly not for somebody else
Trying to compare places like the US and the Philippines is foolish. There's no comparison at all. Rich in US is somewhere like $2.2 billion in assets and making $500k a year. The Philippines is so much lower
Depends on circumstance. I paid my house off in a low cost of living state, when I was 44 years old. Housing is usually the highest expense people will have. Since I had no housing expense, I could have lived comfortably from just my Army retirement pension. No job needed. Far from rich, but no job needed.
Very consistent with what I would have expected given my familiarty with the Philippines. Now, based on your findings, find someone who can give a rational explanation of condo and real estate prices in Manila or Calbarzon.
Nope! - real estate prices world wide are based upon speculation and insanity.
Worth mentioning that condos..aka apartments, aka flats are ridiculous investments, owners dont own anything, no land, just a space that is subject to the land..flats/apartments devalue pretty quickly because someone builds a new complex next door.
In most markets the value of residential real estate is largely based upon in market demand for the property and the ability/capacity of buyers in the market to purchase. In the Philippines that does not seem to be the case. Developers target either foreigner buyers or OFWs with the notion that these are "good investments". Many developers seem to sell the down-payment and never vet the buyers ability to afford the actual purchase price. @@JC-zv3cv
It's incredible how people were open to talking about their salaries... you may be able to fertilize a whole couple of acres with the responses you may get here! Point for PH!
80k pesos is about 1430 usd so if you budget correctly and save you can live very comfortably I know some Filipinos who enlisted in the American armed forces who send alot of money back home so thier family can make it
Happy to see you again on Yt. It's nice to know that with average earnings (by Italian standards) they can afford a more than dignified life in the Philippines.
Moving to the Philippines while I'm still young (39) and marrying a Filipina girl would be my dream.
Can you tell me how much you have to earn to be considered by a local girl?
Unfortunately I still have to build up the annuities that will allow me to do this because I wouldn't be able to find work for what my job is, but I hope to do it in a few years.
you're automatically seen as rich here for having white skin 🤦🏽♀️ so don't worry too much about how much you need to earn to be considered by a local 😊
@@Rubeauti Italian women look a lot at how capable you are of providing and physical appearance. They are quite demanding and I was wondering if this was the case of Filippine too. I thank you for your answer and God bless you!
Interesting video!! It’s always good to know how much you need to survive! Yrs, rich is a relative word and everyone meaning is different but you were talking about monetary value in this video!! 👍🏽👍🏽
How can I buy you a coffee? 😂😉😊
I live in BGC and its an expensive city! 100k php wont cut it unless you dont eat out :(
Damn!
Imagine being an engineer and earning $600 a MONTH
that’s not even close to survivable in BGC or Makati.
I’d say 120k is the minimum for thriving in BGC
yeah thats true 🤦🏽♀️
actually BGC expenses well exceed the average for even western cities. so p150k a month is woefully inadequate for maintaining much less 'thriving' there. you'd come out in the red every month otherwise.
Filipino women are natural beauties.and i love your personalities.no attitudes and down to earth.definitely of morals and convictions it seems.👍
no attitudes? lmao
I live on 110k Paso a month in the Philippines and when I finally retire at 62 it be 115k so I guess I’m in the upper class
I feel rich just watching your videos : )
XD
Hello Rubeauti, It's funny... I was just discussing this with a bunch of wannabe expats to show them where they will fit in, with their income, in the Philippines. I feel it's important for foreigners moving there to understand this so they can better judge not only the price of things, but actually get a grasp of the value of things and how it applies to them. How many days of a Brain Surgeon's monthly salary and how many days of a Ditch Digger's monthly salary is this item worth and do I stand with the Ditch Diggers or the Brain Surgeons? It's important to know.
Every year, the Philippines Statistics Authority publishes a list of the Top 10 Highest Paying Jobs in the Philippines and their average monthly salary. As 2023 just finished and it will be a few months until the numbers are crunched, 2022 is the latest list. I really think this list should be required study every year at university. It might help some stay more grounded in reality.
I would also like to see this survey taken outside of the BGC area. I think if you ask around and outside of BGC the answer may be vastly different.
Me as a foreigner living in Philippines I make 195k and tbh sometimes it’s hard to budget. I support my Filipino family fully.
You support the whole barangay why it’s not enough. If that much money isn’t enough in a family of 4 in the Philippines then you guys are too materialistic
Depends on lifestyle ..it’s that simple. I spend approx 250 k just on food per month restaurants etc. It’s different strokes for different folks..
You must be eating at Ruth Kris steakhouse everyday of the month..250k on food alone are you feeding tigers.
@@James-mw5xi lol well i have a son plus I’m in 4 plus year relationship..so I have dependents. But like nice food whether it be in Clark or Manila and a good steak in Manila is upwards of $70 each plus booze. it’s just want ya can afford ..the one thing westerners crave is good steak 🥩…
@@Rubeauti I said sometimes it’s hard to budget but normally 120k monthly is enough unless we travel outside of the Philippines, we travel 7-10 days a month and I do not like Filipino foods as well as my gf and her kid are now only eating western foods.
I haven’t met many expats who eats sweet pasta, balut, fried chicken that you see on every corner that smells like vomit.
P.S. I live very comfortably and not planing on changing that.
This was a good video. It is difficult to make these videos because as the old saying goes, one man's conception of being rich is another's being dirt poor.
Perhaps, like you allude, categorize the classes and rich/not rich by the financial ability to have the nicest residences, can live anywhere they want, have the most luxurious cars, and are able to eat at the finest restaurants (five days a week). I'd ask if the interviewee runs the AC full blast 24/7 🙂
If you make a video again like this I would definitely break it down by occupation. The reason being that there's an assumption the doctors, lawyers, engineers, dentists, etc. probably have the most accurate perception of what rich is, at least to the professions, because they are able to do all of the above.
Plot twist: Really rich people aren't relying on a salary.
yes. they live off passive income like investments.
true, but they did at one point.
I like these interviews
So I make 80k a month and I'm retired when working it was 200k a month... I'm wanting to go back there and meet a lady around my age, see I worked most of my life and what I did took me away from home for long periods so I never had a family. I would be happy to take in and have a extended family. Out of the whole world I found they were great people there and I love the Philippines.. I have some of my best friends there.. As soon as I sell my home here I'm moving back there.. I think living north of Manila would the best about a hour out of the city.. I've been there a few time and I want to go back.. I think it would be a great place to retire..
"Rich" people waste money on showy displays of pointless purchases for status. "Wealthy" people generally don't. Even with plenty of money, I always look at the price and don't buy anything that is not a good value even though I could buy it without a problem. Wealth happens when you spend less than you earn, whatever that amount is, and invest the surplus.
If you can save money, your "Wealthy" in my eyes.
yes. people without your mindset will always be wanting to be rich--without ever making it.
Well said!
@@runejohansen3332 Everybody can save a little, it depends on what you are willing to sacrifice. Booze, cigarettes, eating out, a fancy smart phone, name brands? How far are you willing to go? A critical marker for success is delayed gratification. I can't count how many "poor people" have fancier tech than I do, and plenty for makup, clothes etc...
wow ur so humble and nice
I think it depends a lot on where you live? I bet Manilla needs a lot more income! Still, nice to be considered 'rich' by lawters and architects! Thank you Rubeauti 🙏🏻❤
One of the unfortunate things that can happen when a person obsesses over becoming 'rich' is that they discover the COST of everything and the VALUE of nothing......
true sad reality
@@Rubeauti Some rich people are not that way and provide others to also be rich. It is more about the person than the money. Being rich does not mean you are bad or not like others. Some rich people come from poverty and help others.🙂😇
Although I own my own seasonal business and I have done other jobs in the past that have a high salary but I didn't want to work in the office anymore so now I am a truck driver in the winter in America and I usually make about 9 to 10,000 US dollars per month so that's about 500,000 pesos to $600,000 pesos a month. The problem in America is everything cost at least three times as much especially housing and health care and education although some things are cheaper like smartphones and computers.
My girlfriend is a Filipina...
Where was that, that you were walking around?
Wow your camera is so sharpe, so clear, what camera u using po 😮😎👌
It's wasnt really that sharp cus i got the video from my live stream on twitch. So if you notice there are pixelated parts cus you know internet in ph is bad haha but i did my best thank you. ps I am only usng my iphone :)
I agree that 50 is high and 100 is very high. I plan to have a pension of 75 plus a savings of 15million php. I can spend the 75 monthly without worrying about it and spend savings for things like a vacation or a car. I’ll be very comfy but not super rich.
According to the PSA, making 180k+ PHP per month is considered rich in the Philippines.
I'd say most US Truck drivers drive for a company. It's expensive to be your own owner /operator.
Rubeauti ay sobra maganda at matalino.
Your English is great . I know it’s taught there but you’re at a higher level.
There’s multiple ways of being rich -money- knowledge -love- to me rich is not worrying about food or roof over your head it doesn’t have to be like I drive the most expensive car or have super nice clothes and gadgets
In new Zealand, 100,000 php, I could not do much with that here. For Philippines, possibly nice condo in Makati city, depending on the size of the condo as well, if flash or not as well😂😊
Very true. Something most people don't realize is that the more you make the more you need. Real rich is when you are buying the best of everything and anything but you can't spend it all.
Agreed!
Then you are not financially rich if you are keeping your cost in check.
@@joyeeathome disagree. unless you inherited your wealth, you became rich EXACTLY by keeping your costs in check.
@bureaucrazy9054 There are different ways to "build" financial wealth and keeping your finances in check is one way. But when a person is financially wealthy, the subject is financial freedom and this freedom is the state of being able to live a life to spend freely without being burdened by costs and debts. Hence, a person is likely not to be wealthy if they have to keep their costs in check and this state of mind has nothing to do with inheritance. Also, keeping your costs in check means that you are forced to live within or below your means, which is far from being wealthy. Everyone's definition of wealth is different.
@joyeeathome unless one is a billionnaire. in the real world nobody becomes and stays wealthy without placing controls in their spending regardless if it's $10 or $10m. tell us, how do you do it?
it doesnt matter how much money you have if the things you need to buy are not available, or if your lifestyle is too stressful due to logistical challenges. Its a better life as a middle class person in Texas than a rich person in the Philippines. At least I can get someone to look at my aircon same day in Texas, and the parts are probably in stock somewhere relatively close.
Where is this? Cebu City?
My monthly income is more than any of the figures mentioned but I don’t consider myself rich. When out shopping in any Philippines city the costs of some things shock me, I can afford them but would never pay the prices asked so I always look for cheaper products. No point in throwing money away. A peso not spent is a peso saved 😁👍
I don't consider myself rich as such, but I am somewhere in the middle class category with 87,000php a month from my Canadian pension. Add to that, my asawa's Canadian pension that she got for 21 years of work there, and we are definitely above middle class.
I have not been here on your channel for awhile. Forgot just how cute and adorable you are. Such a pretty face. I have not decided where to live yet in the Philippines. I am coming to explore in March. Your interview was good. The more they make, the more they expect rich people to make. What is three of the best islands for an American retired guy to live? Happy Trails
Appreciate you for your content, I might relocate in the near future. Being at 90% VA my currency over in the Philippines would be over 120k a month and I'm still able to make myself 100%
This vlog is very good.
wag mong maliit ang mga Pilipino kahit maliit lang ang sahod happy naman
It's been confusing trying to budget a trip there with the range of what people think is rich. Some say 50,000 and then others scoff and say its not enough to even get by... Really wish you could ask them after their answers what their definition of rich is. I also find it shocking that the students proclaimed starting salaries for accountants and lawyers is higher than what they earn in say Canada for example which don't make more than 50-65k CAD per year.
I enjoy watching your channel and life in the Philippines. Monthly salary is a good measure of wealth. Net worth is a better measurement because it is an accumulation over time. What happens if you lose your job? My net worth is over $100M PHP, but I still don't feel rich in the United States. I save by eating fast food deals on phone apps and live modestly. One of my goals is to live in the Philippines.
It is true that when you make more you want more too hehe that’s why even if you have 100k usd net worth or savings you feel like it’s not enough hehe
Dont you have those in investments> You should have more then enough to live in the Philippines already. That's like $6k a month on the just 4% rule, thats more than enough. Why live modestly in the US, while you can be living your life in the PI.
I'm living here in the Philippines on approximately $1,500 a month Australian and do not consider that to be rich at all. We live quite conservatively and don't eat out so much but our monthly costs take up pretty much all of that budget. I am vlogging here on CZcams now also but we are not going to expensive resorts and spending a lot of money, so in my opinion I would say $4,000.00 per month you could live a rich lifestyle here in the Philippines.
Peace out!
Wow. How you are spending 1500/month??
@@dddtrump rent, water, electric, internet, food, gasoline, baby foods, clothes, just general living. It's approximately 54,000 peso per month and I have an American friend here who spends around 95,000 peso every month 😊
Your a very good interviewer 👏👏 watch out Lisa Ling new interviewer. Great job 👍👏👏✌️❤️🙏🙏🇺🇲
Yes good way to interact
Nice Video.
I find it crazy with the lawyer, usually when people say 6 figures I assume they mean 100K, 100K PHP is about $1,800 USD & to me I feel Americans need to make at least $2,000/mo to get by which I think is the standard for the most part these days. There’s many Americans that will disagree with me but I think that’s because I’m a minimalist & my expenses are pretty low.
ikr. An American pensioner who barely earned more than minimum wage for 3-4 decades of unskilled/semi-skilled work in the US would be entitled to about $1800 a month in pension payments.
Shocking! I make over 100k a year as a company truck driver in the USA
Woww i have just learn that i am rich,,that's great news..!😊😊😊
😊😊😊
I sell Energy in Europe and live in Iloilo City with my asawa and dua ka bata, we are considered rich, only because I am European
Once I took my girlfriend to a jewelry store and bought her a necklace for about P15,000, or $300. After we left it occurred to me: To me as an American that was, I suppose, a moderately large purchase. To the clerks who helped us, that was probably a month's pay.
Oh wow i would be stupid rich over there. I need to get back there .
My Monthly retirement income is around 1232 UDS, with 55.51 PHP to the USD = 68,360 PHP... So on my pension as single I could live a middle class life style. With my shares, at 5970 = 331,000 PHP Wealth and rising... .
That's more than enough actually if you live in the province.
Wealth is what you actually after your debts are subtracted.
In the U.S., it's rude to ask someone how much they make.😂 You guys are amazing.
BGC there for an airbnb can easily be 50k php for a month. How i can get a month for a more local price would be great 🤗
Wow that means I’m rich there I make 4 times a month I don’t know that in the Philippines
Is interesting to understand what money means.
I have no savings and making payments on a house, living on a little over 2,000 usd per month on social security in the USA. Not rich by any means but getting by.
50,000 PHP converted to dollars is considered poverty in america. A middle class life style would be the equivalent of 250,000 PHP per month. If you live in one of the really rich areas of america like NYC or parts of california (i wouldnt myself, i hate cities) you can multiply that 2 or 3 times.
Maybe the words well off or financially secure would have gotten different results because people think of big houses, expensive cars and clothes when hearing the word rich. And who is Paul?
It's all quite relative to be fair - go to any country on earth and the people you interview will state that if they earn 100K a month or year than they need more to survive and more to be rich - as evident in this vox pop - those on 30k think 50 k is rich, those on 40-50k say 60k is rich.
Rent is cheap there, food is cheap, fuel, power, gas, consumer goods are pretty much the same as everywhere else in the world - Red Horse is cheap though : )
i see out from this video just a normal pension in my contry is 121.000 peso if you haven save up for it an its from the govermenet its much higher here if you take that with you down there its going to make you rich but not when it comes to free hospitals schools all kind of doctors an so on so you are not rich just becouse you dont need to work an can afford a place to stey an food you also need other stuff to cover your helthcare an so on.
80,000 PHP in Canadian Dollar is $1,940.81
Man! I'm moving to the Philippines. I make in the US $5,325, or P325,364 per. Month. I don't work, Retired US Army.
My concern with retiring in the Ph would be the healthcare infrastructure. At a time in your life that you would be more likely to need first world, state of the art, western healthcare and hospitals, it seems that you will be hard pressed to find anything close, except perhaps in some of the larger metro areas..........Maybe Rubeauti would be kind enough to do a video on Healthcare in the Ph, and the costs, and how it works for expats !!!!!
There has been some talk about a bill in Congress that would cover Americans in the Philippines that have Medicare. Hasn't been voted on though, and may take a long time before it gets approved, if ever.
Guam is like a 30min flight and since it’s a US territory you can use it. But ya for unexpected visits you can get international top tier coverage for like $300 a month.
Wow… I don’t consider myself rich, but I guess in the Philippines I would be. I was hoping to move there and be comfortable on 200k pesos per month… lol I guess that is doable!
If you just act a little bit smart you will be comfortable on half of that
So if I retired there If I have 1500 hundred to 2000 thousand in US Dollars can I live Good. In Philippines.
How is earning 50k rich? I thought the rent there in bgc would already be 50k per month.
Is that in USD?
50K pesos a month is very good wage for single person. People with Professions like architects, entry level software engineers make that that kind of money. Many Westerners from USA get about 1500 USD a month from Social Security. 1500 = 87000 Pesos a month. A westerner can have very good life with 10K USD a year. Imagine selling a house in USA for 400K USD in phillipines that will pay the wages of an Architect for 38 years.
At 41, I can retire with a bit more than 200,000 pesos a month. No wife and no kids. Should I do it?
Rich is not going to eat in a fancy restaurant or owing the restaurant. It is owing the building and land. And having the power to prohibit other fancy restaurants to start a business competing with yours. Restaurants, pubs, hotels …
Dam.i guess im Rich 🤪 in the Philippines 🇵🇭. And poor as hell in America 🇺🇸.😢