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Is the Philippines a good place for an American to retire to?
rocketman202
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Is the Philippines a good place for an American to retire to?
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If you are a retiring US citizen who was born or raised in the Philippines, and you have at least $2000 a month, that country is still a good place to retire to. That amount may go far in a month. Learn very well to live well below what you are getting monthly, plus most importantly, save and invest well each time you have the chance. Live in one of the smaller cities. You can pay someone to take good care of you, in more ways than one. Pay bills including huge power bills due to air conditioning mostly (it’s a tropical country, you see), as well as the internet (you pay top dollar if you want fantastic connection—remember, the Philippines is a major call center country so those companies surely have excellent internet, the kind of service you must be willing to pay to get).. Some Americans may manage to retire well there if they are already familiar somehow, somewhat with how things go about in the whole archipelago. For sure, you don’t want too many big surprises in your retirement. Notice it’s too far from where you are probably staying now. Like everyone else, you may need to plan and prepare according to specific circumstances you have. I was born and raised there but I am not retiring there. I have no ill feelings nor thoughts whatsoever about my mother country, ok? Based on some talks I have had with other friends and family connections, you will have better chances of retiring well there in the Philippines if you have at least PhP25 million in your bank account that won’t charge you fees and charges every time you use your account. Take note, as of now, interest income there is still taxed at 20%, so if you are a passive saver, your interest income will be taxed, and that accumulates later to your disadvantage. All the best.
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Yes according to some and No according to some. So it depends to your preferences, health situation and budget. Some trying to compare the air they breathe in in USA and Ph, not because you’re in 1st world country the air you breath in is better than the air we breath. It depends what city you're living. 11 of 15 cities in Southeast Asia with cleanest air is in the Philippines. Wherever you go, if you want the best healthcare, ofcourse most is in the cities and not in countryside. I experienced good internet same as when I travel to other country but it is understandable internet connection is so slow and sometimes none in some islands municipality. This is why the government working out to let in other big tel companies for better service if there is good competition. When it comes to rent plus cost of living, Philippines ranked 11th cheapest in Asia and 1st in Southeast Asia Also the immigration process is easy to retirees or foreigners who wanted to stay in the Philippines. Filipinos said to be happy and friendly people mostly to foreigners or tourists because they want you to feel welcome, just don’t start with them as most are fed up with foreigners that acting so arrogant in the Philippines that think they are better. Give respect and be good to them and they will give it back to you 2x, as you can hear from bloggers who really enjoyed beautiful places in Ph, even those poor peoplewanted to feed them, that’s why it is more fun in the Philippines.