Living on a Big Retirement in The Philippines - What To Expect
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- čas přidán 27. 07. 2024
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We often discuss the biggest perk of moving to the Philippines which is being able to stretch your dollar much further and live on a low retirement budget with ease. But what about living on a big retirement in the Philippines?
After all, retirees with high paying pensions, whether it be from the military, the medical field, or construction, move to the Philippines with large savings dedicated to settling down in the Philippines. And not to mention, thousands of Balikbayans come back to the homeland to settle down, with bigger budgets.
That is why, in today's video we cover what life can be like when living on a big monthly retirement budget in the Philippines. Not only that, but we also discuss the lifestyle categories based on your retirement budget (lifestyle to expect) and what's considered a big retirement budget for the Philippines.
So in a country renowned for it's low cost of living, in this video you'll find out what type of lifestyle can be afforded when living on a big retirement in the Philippines. If you want to see more budget based videos, let's get this video to 500 likes. Appreciate you Savvy Expats!
Timestamps:
0:00 Living on a Big Retirement in The Philippines
0:38 What's Considered a Big Retirement?
1:13 Philippine Lifestyle Categories (based off budget)
2:37 Living on a Big Retirement - What to Expect
5:28 Philippine Helper Salaries
7:51 What Do You Do With Extra Money?
8:38 What Can Be Afforded - Perks & Benefits
9:55 Tips on What To Avoid
11:28 Thank You To My Patreon Supporters!
11:33 God Bless
Current sub count: 6,277
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Tags:
Retirement in The Philippines, Retiring in The Philippines, Philippines Cost of Living, Moving To The Philippines, Philippines,
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Business Inquiries: evan@thesavvyexpat.com
What did you think? I'd love to hear your thoughts down below! And if you want to see more budget-based content, let's get this video to 500 likes. Appreciate you Savvy Expats!
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I watched a video of the cleanup in Valencia after the typhoon. A 66 year old American expat was filming a group of men cleaning up the street in front of his house. There was a 70 year old man hacking away at the fallen trees. When he was acknowledged he waved and smiled. He was happy and will probably live a long healthy life.
No matter how rich you are you still have to do the work or you will quickly grow old and die.
About eight years ago I wrote some things for a man I believed in for free. He achieved his goal and things quickly began to get better. He set about cleaning up the United States. Today he's semi-retired and taking it easy and gaining weight drinking diet coke. YIKES!
He even had trouble teeing up the golf ball.
If you want a guaranteed way to get sick and fat drink diet coke.
I use to work with a young man who drank that krap all day long. Last I heard he weighs about 400 pounds, is divorced and is too sick to work.
Where is your driver supposed to live? And is he typically a 9-5 job?
@@mastervictor9809 When my parents were going to buy a house in Mexico the maid / cook and gardener / Butler had rooms at the complex.
The bigger question is how do you remove yourself from any liability when the driver has a wreck?
Never show your hand as a foreigner when abroad. Don’t show your wealth enjoy life that’s ultimate key!!!!
Fantastic tip. Important to not flaunt your wealth. That's led down bad roads for a lot of people...
Well made videos and very informative. Keep up the good work.
Great job, you are a natural at making video's
That means a lot Steven, thanks for watching 🙌
very good info. Thx.
You got it Reynaldo
More of these please! This is refreshing. Always hear about “living on $1000” in the ph need reviews for bigger budgets! Thank you sir!
You bet David! Great to mix it up often to accommodate everyone's lifestyle and situation 👍 more of these to come
Words of wisdom..
Always 🤝
Good Luck getting to 500 likes, thumbs up 👍
I appreciate that a lot 🙏
Hey bro this has been so helpful to me, great stuff. Can you do a video where you show baller budget for a family? Ie you need to send kids to school etc… more power to your channel!
Superb video. Fresh content, well-delivered. 👏
My pleasure, more to come 👍
SEE YOU IN JUNE BRO!
That's what I'm talking about! See you then my man!
You nailed it. This is accurate. I budget $5,500/mo when I'm in the Philippnes and that is waay more than enough even including travel to the islands. I am a FilAm based in Las Vegas and Makati.
Real estate and investments/stocks/etfs (rents, dividends & interests) in the US is my source of passive income. Not touching principal, I generate over $5,500/mo net cash flow.
I'm not receiving Soc Sec yet and when I do at 62 I will get additional $2,300/mo.
In the US, this is just ok, but in the Philippines ? .... mucho mucho dinero!!!
Mabuhay!
Cheers!
I must admit Mate that you are wiser than your years, it does seem funny hearing retiring advice from someone your age, but I can't fault it... Kudos to you and keep them coming, I hope more heed your advice before heading over there thinking they will live on $800 a month.. Cheers..
Very refreshing comment to hear Rob. As long as the advice is sound advice, I want people to know about it regardless of age. Take care.
True savvy just rent so u r mobile no obligations . Try d various cities/provincial life . U will b amazed by d diversity and nice beaches and laid/relax lifestyle away from d bustling stressed city life and traffic jams ... N pollution
Thank you for covering this. Its nice to see a video that isn't about basic budget.
That’s a very good explanation about the expenses ! We have to live below our means since commodities are rising but not our incomes ! Thanks for the insights 🙏
Absolutely Mylene! Thanks for watching.
I have just rated this my favorite video ever , great job ! Very smooth and articulate , i see you moving up the food chain of bloggers
You know it! More to come.
Thanks for chatting about the other side... so interesting.
You got it Kent, life for retirees with a bigger retirement budget is not covered enough in my opinion. Thanks for tuning in!
Tuli,
I really enjoy your channel. You channel is exciting. I gave a place in Marinduque and a condo in Manila. Needless to say we have the best of both worlds.
Also youth and beauty were valued when i grew up in the USA. In the Philippines old age, wrinkles and grey hair are valued. Again l have the best of both worlds.
I am a simple man. I do not need much. I have warm showers and plenty of good food.l exercise more and l usually use a little weight. Tuli, l love the items of paradise.
Thanks again...
Great content. If I wanted to live like I would in Miami Beach, where would you recommend in Philippines?
Finally a vlog about actually having money!
yessir
Tq savvyexpat for d video. It makes sense . Just spend within ur budgets . If one can afford why not . Life is too short . Enjoy to d fullest as long as u don't hurt or deceive anyone . It's one's decision . U saved and if u already have d necessity for ur family etc , future why need to be so thrifty . Well it's one's decision though... But don't become arrogant just because u have d financial capacity . Stay humble qnd
Well said Pat. Thanks for watching!
mad respect on the back to the future clip 😂
Classic!
Thnx Evan...great inciteful vid. Being a tier 2 pensioner, no extras for me 😞
Make no mistake Mark, you can still live an amazing life in the Philippines, especially with that budget. Much better life than in the U.S, I'll tell you that much 😂 Keep in mind, that budget is much higher than most people here. And just because I didn't specifically mention that teir two can afford these luxuries, it's not the end all be all. You can of course make some adjustments to your lifestyle to afford whatever you desire. So many variables to take into consideration.
@@TheSavvyExpat oh absolutely Evan. I've been here since Nov 2019. Im still not sure where I want to live, but I agree with you about renting versus buying. I toured a little until the bat plague rolled in. Love Makati area, but that's as far south as I've traveled and north to Subic. I think I'm going to go to Pangasinan next month. Anyway, thank you for giving me incite on places and costs, the pros and cons. Your vids are more than educational, they're actually enlightening for anyone who wants a Philippine experience 👍
Really Loving your Content, well researched information & enjoyable to listen to... Fantastic, thank you... Cheers 🍻 😁
Glad to hear that Kevin! Much more content to come. Take care
People have to keep in mind "budget" and "income" are 2 different thing!! Thanks for the video!
Absolutely, great point James. God bless 🙌
Drive in the Philippines?!?!?!? Maybe in the provinces i would, but Manila? LOL. I also like to say I am embarrassed by the way some westerners behave. Treat people with respect; all of them. It's not my country, I am a guest and the people there are my hosts. Act accordingly. Stay safe!
Well said Rick 👏
I really do like your videos. This one was helpful as is the condo rentals, and the walk through tours. How about the best places to do business and professional networking. I work for a global online university and we're expanding to Asia. I'm moving there in June, just not sure where yet.
I'm like # 106. LOL hope you reach your goal
Anything helps! I appreciate it 🙌
You are right on , i love having a driver , maid, trainer for over 6 years. They are like family to me.
Absolutely, makes life so much easier
If I'm gonna retire in the Philippines, I'm gonna be the tier one. I want it simple. And to avoid people asking for money. I want them to think I don't have much. I mean mahirap mautangan 😆🤷♀️
Do you have any knowledge and experience about acquiring an SRRV visa? I intend to move to Davao and leave my present homestead in Belgium.
hot guy ! enjoyed the video.
Do a topic on making friends. For me, I recommend expats join groups like Elks club manila club or bike clubs or golf so they can make friends and have something to do besides drink.
Curious, what is the average monthly expense for your family ?
I've heard $3800 monthly puts you in the rich income bracket. I live half in manila and half in the province on my farm for far less. I think $5000 a month is playboy level! Enjoy it if you have it!
My ideal budget would be a $100.00 a month and a woman with $5000.00 per month!
I see how you roll 😂
I wouldn’t be your woman!
@@nala3038 : I'll keep on dreaming
Loved the Video like to see more like this and u gave some good advice just because u may have it doesn;t mean u have to spend it gambling drinking and women will eat u up no matter where u are u have to be smart with your money
Absolutely Tom. Gambling, drinking, and women is like the holy grail of a man's downfall 😂 deadly combo 🤜 think with your head not your you know what!
Thanks for your unique perspective income v budget. You are spot on bro, most people, especially here in the states still can’t grasp the concept. I’m sure you’ve heard having a rich man’s taste on a poor man’s budget? I personally know guys in their 50’s with no savings or investments, but drive a 2021 BMW and live in an apartment. Crazy, right? Not hating at all but why not own a home and drive a less expensive car? My point is investing and preparing for retirement. Which has more equity and less depreciation? The home, right? Cars depreciate every day/year. I’m sure I’ll catch some negative comments here but hey do what you like! Thanks for the insight bro, we’re definitely preparing to relocate to the PH soon. Looking forward to visiting also in 2022 as soon as COVID protocols permit. Great vlog Evan, you are a natural man. 🇵🇭👍🏾✌🏾
I couldn't agree with you more Mark. A lot of people will choose instant gratification materials before they choose what's best for their future. My parents have friends just like that. Love them, but it's a shame seeing them eat out practically everyday, drive a Mercedes plus two other cars, and live the high life while still being in debt and having no retirement savings. I guess that's the "American way" lol. Thanks for watching my friend.
@@TheSavvyExpat Sadly that’s the way many people think about their finances. We save now so when we retire we can enjoy the simple pleasures of lounging in a beach and not stressing about debt. Thanks, my. friend! Planning to get there soon now with tourism about to open for foreigners. Yes!!! 🇵🇭👍🏽✌🏽.
My $5,100 gets me so little in the states. I am excited to see how far I can make $3,000-$3,500 go in PI while still saving some cash to splurge when I want to.
Eric, with that budget you will live the life my friend!
$300 hundred for a driver + car. That's a great deal. My friends in PI pay about 15K php for a driver but must provide the car. Driver lives with them.
Can you do $3K - $5K budget next?
Sure thing, you can live a very comfortable lifestyle with this budget 👌
What is the cost of insurance for a car? If I wanted to bring ,y car
Is this budgeting for single person? Next time, could you pls specify? TIA
Nice video. Since it seems you grew up relatively middle to upper middle class and are a Christian, it would also be good to mention a bit about giving back or helping others. This is a big thing some expats plan to do and choose the Philippines. Remember you are now seen as the 1% there.
You got it Jason, this is a good video idea as my family has experience in that area 👍
@@TheSavvyExpat yes that would be a great video
Hi
I did hear a story of a retired guy living native up in the mountains of Bohol. Goes to town once a month or so. He had gotten wiped out 3 times with divorces. He's income: $5k a month. His budget $300. No women will take his stuff again! Yeah, I couldn't do that.
"Do not give your strength to women, your vigor to those who ruin kings" Proverbs 31:1
This verse is a prime example of that... I'm never marrying a woman without setting up some sort of contract.
@@TheSavvyExpat I think a good Lawyer could beat any contract, especially since most judges love to totally destroy the guy. It's amazing that his ex's didn't get his pensions. I personally only know one guy out of many that kept his pension. And he lost every but his pension, with a good Lawyer working for him. I live fine on 3k a month in the PI. At 64 will gain another 1k a month. I'm very happy with that. If I waited till 70 I could hit that 5k, But it's not worth it.
@@51dbail most definitely. 4k is good living in the Philippines. Especially if you're already living well on 3k. Good stuff.
@@51dbail A contract is an agreement between two parties. Yes, contracts can be declared void and/or unenforceable. However, when prepared by competent legal counsel, most contracts can't easily be "beat." A deal is a deal. In addition, many American judges today are women, and the decisions/rulings of all judges--male or female--(except FISA and Supreme Court judges/justices, of course) are reviewable by higher courts.
Bottomline: Tina Turner is right. "What's love got to do with it?!" Lawyer up if you wanna be shackled to a woman/man. A pre-nuptial agreement (signed by both parties b4 marriage) or post-nuptial agreement (signed by both parties after marriage) should be on the To-Do list of every love bird. With marriage and everything else in life, failure IS an option and the future is completely unpredictable. So cover your assets, hope for the best and prepare for the worst. Just my two cents...
@@JamesBondEsq. You my friend are delusional. Judges in the US are the law, that's how they look at it. How much $$ to push it to supreme court? You can say how it should be all day long. I can show you examples of how it ends all day long.
Tier 1 is 800 to 1200 and 2md tier is 2000 to 3000
. What happened to ,1200 to ,2000
Is it safe to rent a beach house to live at the beach? what's affordable rent to live on a safe beach?
If you rent a luxury condo in the business districts like Makati, BGC, Rockwell, Ortigas then $6K is required. If you own a condo, $4K is enough for a very comfortable lifestyle.
Most definitely. Living in upper class places like those cities require a bigger budget. Thanks for watching
Where do I find drivers, maids, cooks etc?
Is this still true now with inflation so high $5000 in Manila ?
Growing up we have 3 maids, but being the youngest in the house our maids always ask me to go to the market
Great video sir! we are living the baller lifestyle But using wisdom. Debt free. your numbers are accurate!
Absolutely Morris! As long as your smart about your money and don't spend on frivolous things, the baller lifestyle can be lived much faster than most people think
@@TheSavvyExpat you know i live here. I was wondering if you know if red lobster, pf changs and toney roma will reopen in manila. When I was there in December they were all closed
Kuya, the sad thing is that once, less than 20 years ago, even "poor" Filipinos could afford a yaya and maid. Now, only rich Filipinos and rich Tisoys can afford that. For me, and an idea for your next video: in the Philippines you can afford a weekly massage, podiatrist, manicurist, cleaning lady, personal trainer, eat in excellent restaurants, etc. So, if you choose, please do a video about "what services are affordable and available in the Philippines for expats." Salamat!!!!
Great idea, just wrote it down. And you're right, back then yayas and maids could be afforded by even the lower class. A lot has changed in such a short period of time. Salamat din!
I hate to say this, but 36 years ago while going to college in Manila I had a live in nanny who took care of the baby, cleaned, cooked, and shopping, and her agreed monthly pay was 200 pesos! I felt so bad for her, I gave her double. It was so nice coming out to the living room and she handing me my coffee and asking what I wanted for breakfast. I pretty much have to beg my wife for the same thing. That’s if we hadn’t argued the day before. Back then, I can have a wonderful meal with a soda in a restaurant for 20 pesos which included the tip. Today, that same meal would be over a 1000.
@@methemonkeyking hahha have to beg my Wife for the same thing, that's if we Hadn't Argued the day before 🤔...Feeling your pain, she must be western 😆
@@kevinburke9255: worst than that, born in the Philippines’s, then Westernized. Just kidding of course.
Just need to pay for my golf membership. I am good then. ⛳
That's what I'm talking about! Get the priorities straight!
i earn a bit more than 5k USD a month in the philippines, and i dont have any of that, i dont have a car no house, (i rent) i have no maids etc...
Tuli,
Several years ago l was going to team up with several other native English speakers to start a language school for students from South Korea. I was the best off of any of the four. One lived on a squatters land near a river. He got water from the river for cooking, bathing, doing laundry and drinking. He ate rice and vegetables that he grew himself. The other two were not much better off.
I was able to live. Very well on $800 a month 15 years ago. Of course prices are much higher now. A person with average SS, a military pension or even A VA pension will do alright. SSI will not work in the islands of paradise.
We hired a driver and car to go back and forth from from the province to Manila. We also took motor trip to the mountains and beaches several times. These trips were great and very memorable. Surprisingly, the trips were not all that expensive. The driver did showed us a great many areas that we would never have found on our own.
I used to drive in Manila. I would never attempt that now days.
This video has great content.
Expats should remember that they do not have the safety net in the islands that they enjoyed in their home countries.
Thanks again for sharing such great video content.
My goals is staying only two weeks at a location and then continue this cycle at new locations across PH. Stay in mid-range cost hotels, modest meals, don't gamble or drink, but I do like girls :) You have any idea the monthly cost for this type of lifestyle. For example month in city: Manila-Cebu-Davao, month in smaller towns: CDO-Ormoc-Duma-Iloilo, month in province: Bohol-Camigan-palawan and across islands?
There is a huge range of prices in the Philippines. It is not nearly as uniform as in the US. For example, you can find a luxury 1 BDRM condo in Davao or Cebu for $500 per month. Try to find a comparable condo for twice that in BGC. Not happening. Food is much more expensive in BGC than in the provinces. Keep this in mind.
If you are talking about paying for companionship, girls in the province are much more affordable, but I'm sure that's not what's in your mind :)
It's hard to put an exact monthly cost on this Dennis but to give you a ballpark estimate, living in each big city for two weeks is at least $1,000. Smaller towns you can definitely go cheaper. And then provinces is probably $600-$800. Really depends on your overall lifestyle and if you meet a lot of girls 😂
You can afford retirement in the Philippines if you live modestly, within your means...
A HUGE Mahalo! I realize most videos regarding living in PH focus on living on a small(er) budget, but this is of tremendous value as there is not a lot of content that covers a higher budget. There is a large number of first/second gen Pinoys who were blessed with the privilege to make a life outside of the PH and are now looking to come back to their birthland. After decades of working hard, saving, and living a modest lifestyle, they are looking for an alternative to the states, particularly now with the unstable economic and political environment in the states/abroad. Excellent video, thanks for taking the time to do this knowing the audience may be more limited.
Absolutely Roti! I couldn't have said it any better. There's a large number of Filipinos like us, and my Dad (2nd Gen) that was fortunate enough to build a life abroad and eventually settle down back in the motherland due to the circumstances you mentioned. I think my family is in the same boat as yours. It was actually your recommendation on this topic that you made a while ago that inspired me to make this video. Mahalo for that! Glad this video was of value, take care and stay safe 🙏
@@TheSavvyExpat Thanks for covering this topic. I agree that most of the "Retirement in the Philippines" videos are geared towards people with limited means. I am fortunate knowing I have enough money to live a comfortable lifestyle when I retire whether I choose to stay in the Bay Area or move to the Philippines.
@@Binatasj thanks for watching. Well I'll say if you have enough to live comfortably in the Bay Area, you most definitely have enough to live comfortably in the Philippines 😂
Great video ... quick question ... my gf has 3 kids so family of 5 with 3500 a month ... where does that put me on your scale
I'd say the tier two range ($2,000 - $3,000). Robert, $3500 can afford you a great lifestyle in the Philippines. Only thing is, your expenses will likely be higher because you're supporting more people.
@@TheSavvyExpat where is a good place with good schools close to the beach for my family
@@robertcasto5481 Cebu City
you live in the p.i.? 🏝 .....if so, is it in the city or the countryside?
Both. I live in BGC most of the time and go out to the province every now and then.
😱 I can see Tim K s house ..🎯🎭💯😓🙏🙏🙏
Sad to see what happened to his place...
People might want to consider what they are going to do when that hard earned retirement is swept away by the Great Reset and other life events.
The Argentine Peso use to be on par with the US dollar. And there's a good chance it will be again very soon.
(You dine with class, when you sell to the mass.)
That'd make a great video idea. My family wanted to get out of the U.S as soon as possible due to what's about to come of America's economy...
@@TheSavvyExpat At 74 it doesn't matter that much to me. For decades I have been warning Americans about the dangers of overspending and handing out free lunches to people able to work. I can see why your dad wants out.
If you feel comfortable catering to the rich then go for it. It worked for Trump. But the Walton's have a lot more money.
Getting your wealth out of the United States is becoming the real problem. And I am not sold on cryptocurrency. I traded pork bellies for about eight years and when things crash it will be over before you wake up. I still think the best investment is an edible tree and garden.
Wanna be a baller, shot caller...
Haha. An oldie but a goodie (song).
love it!
This is definitely the best channel on the Philippines. Love the comic outtakes! Genius!😂😂😂
Wish I had the 5k, but I should be ok on $3500 (and the $250k I'm not bringing with me).
Or you could drop that $250k on ORC and get paid over $4k more a month…
@@anteperic2836 orc? 🤔😳😖
@@anteperic2836 it's in the stock market so that brings in an additional 1-12k/month but loses sometimes
@@gandalfstormcrow8439 so… monthly income is the focus… better to lose some in value and get paid several thousands back every month… it’s only a loss if you sell. With dividends you buy and hold and keep. Who cares about its price fluctuating…. Just pay me!
@@gandalfstormcrow8439 orchard capital investment group… it’s a stock ticker ORC… it’s cheap and it pays a monthly dividend out… do your own research as I’m not a financial advisor of any kind… I’m just a guy with a plan of having 8 income streams paying me $2500 USD or more a month
On $5,000/mo I would just live in a hotel full-time. Maid service, breakfast included, and grab car. I live in SF where rents are more than a hotel in the Philippines. 😁
By the way how old are you? You don't look like you're anywhere near retirement.😂 I know Filipinos look younger than their actual age, but I'd put you at 19.
I'm 17 lol. I'm not retired but I try to help in regards to this subject.
@@TheSavvyExpat keep up the good work. For someone your age you do great work. Very organized and well thought out. Maybe you'll be selling real estate one day or hosting a show on TV. 👍
@@darrylk808 He's smarter than that. He's going to be a passive millionaire.
I'm not an expat but I watch your videos. I'm amazed how a 13-year old kid talks about saving money and retirement. God bless kid.
He's only 13?! Matuted beyond his years. Precocious!
I just want to swim surf in the sun and explore the beauty of the Phillipines with healthy lifestyle with no interest in hangovers or late nights .So I'm thinking $2000 a month might be OK. Thankyou for good presentation ☺
$2,000 per month is the sweet spot budget in the Philippines!
This is the best video I have watched so far on retiring in the Philippines. In my case, I will have $17000.00 per month to really spend. Since I am planning to retire in the Philippines, I have always wanted to know what kind of life I can have in the Philippines. I think about renting an apartment in the city, and a beach house in the province.
Question: do you hire the driver with his car? You don't have to provide a car? How about if you hire a driver and you own the car, how much would that cost?
Damn brother...if I had that much monthly dough, I'd be living in Italy or Portugal
Never talk numbers on the internet!!!!
In most, if not all cases, you hire the driver with the car. That's at least what we did. This way car expenses is completely up to him and if an accident happens, it's not your end on the line. I recommend that you don't own a car as the driver and car usually come hand in hand.
And dang my man, $17,000? I don't think you even need to stick to the Philippines 😂 you can go to Portugal (best rated retirement place for retirees), Italy, Singapore, Spain, pretty much any place you desire...
@@GreenManalichi you said it man 😂
@@TheSavvyExpat if the gov't ever makes up its mind on opening the borders, I'll buy a car. I'm renting one now for touring, but I rly nd my own
How old are you?
My dad is recently retired and so this is very informative for him! He was always looking to retire in the Philippines as he lived there in the 80's, 90's, until 2003 and really enjoyed it. He's moving to Mexico first since he's unvaxxed and I guess Mexico doesn't have much or any restrictions. He'll move to the Philippines when the restrictions end. Great vid!
That's great thing he has going on there. It's good that he has the options to move to the Philippines from Mexico when he pleases. All the best with that!
I already live in the philippines. I am from California. I spend as much in the philippines as I do in california or more. min $1000 per week. That is just food and gas ( I drive not commute). My only thing is, you are too young to know or actually experience this stuff. How do you get your information? When I was your age, all I do is think about girls. well I still do. lol
I live in Las Vegas and vacation in the Philippines’s yearly, except 2021. I’m a foodie, I don’t eat street food or cheap restaurants in the Philippines’s, I would, but my second half refuses. Eating at restaurants and staying at decent hotels here are actually much cheaper than in the big cities like Manila or Cebu.
In 2020, before the lockdown, we stayed at Shangri-La off EDSA for over $400 a night. That same room in Las Vegas would be less than $100. Dinner Buffet at the hotel Php 7500 for two. Not including drinks.
Now, if one decides to live outside the big cities and eat street food or eat at Chow King, Inasal, McDonalds, or buy your groceries at palengke, one can enjoy life a lot cheaper.
So if you’re spending a $1000 a week just on food, I believe you 100%. I’m sure you like eating in nice restaurants with air-conditioning and a quiet atmosphere. Not with music blasting and traffic roaring by.
@@methemonkeyking finally I found somebody who is telling the truth. Philippines IS NOT CHEAP. I don't know how all these people come up with "Philippines is cheap to live in". If you can live in the ghetto Philippines 3,000pesos rent, no car, no wifi, no microwave oven, and 1 single 1watt light bulb, then yes you live with $1000 usd / month. I don't live in the ghetto in California. Why should I live in the Ghetto Philippines? Life is too short for that. I bought my Hilux truck in the Philippines for $40,000 USD in 2020 before covid. That is a stripped down tacoma for $25,000 in the US. So.... Philippines hands down is EXPENSIVE. I KNOW.... I LIVE IN THE PHILIPPINES.
@@LCPhilippineRetirement enjoying your comments 😂 you can live in the Philippines for cheap, but like you said it's not pretty. My family is the same as you and Ray Wolf. We only really eat at restaurants here in BGC that are quality and actually spend as much as we do in the U.S, if not more. Well actually we do spend more because it offers living standards similar to the U.S.
@@LCPhilippineRetirement I get my experience from living it lol. My Dad is an early retiree and the whole process from moving from the U.S to the Philippines is something I went though + I'm aware of our expenses. We've also gone through the process of hiring helpers so I speak from experience on that too. Man, girls are tempting but I gotta succeed! Got no time for them.
@@TheSavvyExpat at what age did your dad retire? 55 or 65?
What can you get for $1k in the BCG area for a single person and short term condos?
Where is the $1400 -$1,900: tier? And what about if u have more than $450,,000 in assets and investments but a $1,400 a month income?
I didn't cover that tier because it's pretty much a mix between tier one and two. I'll likely cover it in another video.
Well as for the assets, that doesn't necessarily matter if you can't spend it here in the Philippines. Unless you plan on cashing out, then you can go ahead and include it in your monthly budget.
@@TheSavvyExpat of course it does because a part of that is making money over time, and accumulating . Why would someone cash that all out? If ur smart, u should cash out little bit by little bit annually to add to ur budget and let the- majority grow,. If u cash it all out, u could pay a hefty tax.
@@hanglee5586 sure thing. But I don't know how often your cashing out or how much. I mean $1,400 is not bad depending on where you choose to live. Plus the assets you can expect to live even better.
@@TheSavvyExpat Salamat po
60k/yr is very low in US. thats middle class. cheap as hell
Single guy budgeting! You didn’t mention the costs that come along with a family! Not to mention that you have to drive a lux car if you are living in BGC!
Is this $5K per month PER PERSON?
Doesn't have to be, most times it's between a couple.
A maid is not 200 us a month. It's much less.
For a stay in maid? Yeah, it depends. I usually price a bit higher because some people underestimate expenses too often.
@@TheSavvyExpat the Filipina Pea just made a video about the same subject. Worth to check it out.
what about to $3k to $5K a month
He forgot that one.
@@methemonkeyking or from 1200 to 2k?
$3k - $5k is still a great lifestyle depending on where you live. Didn't cover it because it's just a mix of the tier 2 and tier 3 budget. You can live without worrying much, while also affording some of the helpers / luxuries I talked about.
You had some huge gaps in your budgets...for example you went from $800 tp $1200 then directly to $2000 to $3000...what about $1200 to $2000? Same same with $2000 to $3000...you went direct to $5000+ without mentioning $3000 to $5000.
Drivers are difficult to hire nowadays even at 20K pesos salary a month. They can easily buy a car for no money down and start driving for Grab. Much better than being on call 24/7 with a family that requires him to drive in the wee hours up to midnight.
As for maids you can offer them 9,500 pesos a month but not much loyalty there as they'll jump to another household for a 1,000 peso raise.
With all that said, I will not retire there anymore just visit.
You don't have to have a big budget to live in the Philippines. This was just an example of what life could be like for those that do.
How much are baby sitters for our dogs? 😂
Haha, it's honestly so cheap that you'll barely notice a dent in your budget! cost of labor here is insanely good.
How many gfs can I support with 5000 USD per month? 🤔 😅😆
Looks like almost time for a haircut for you... 😅👍
Haha let's just say it's more than many can handle lol!