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$1300 Retirement Funds
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How well could I retire on 1300 USD in Cebu, Philippines?
redneckers
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How well could I retire on 1300 USD in Cebu, Philippines?
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Since I have been living in the country since 2009, I can give you a rough indication on the costs. I needed to convert your money to Peso first. Today (18/12/18) your 1300 USD would translate to 68,814 Php. Lets start with housing. I have always been living in Manila so I know roughly what you can expect. Depending on the area and what you are looking at. Condo’s: Makati and Global city are the more expensive areas for condo’s but you can expect to pay between Php 25K and 45K. These will be furnished. When you are going to live outside of these area’s than you be looking to pay anything between Php 15k and 35k. Some are empty, some are fully/semi furnished. Of course, you can buy your own condo. In this case you be left with monthly dues, utility bills and your insurance and TAX payments. Subdivisions: You can find a variety of houses in this group but most common are townhouses. These are usually empty but a lot cheaper, between 10K and 20K is the norm. When you are coming alone, I would estimate your grocery bill to be around 10K a month. Eating outside is affordable so if you really want, you will never have to cook anything. When you are not to fuzzy, you can go to your local wet market and buy something around the 55 peso and up. Public transport is very convenient here in the country so buying a car shouldn’t have to be on your priority list. Women: For a white foreigner (at all ages), it is not to hard to find yourself a GF. Not all are gold diggers but they are going around, so be aware. Most will have no job for them self and totally depend on you. These are extra costs that can be very expensive. It is most definitely possible to come to the Philippines and live of 1300 USD. You won’t be living the good life. Unless you come and buy your condo, instead of renting. You be left with a lot more money to spend. Than you can live a very good life here. (even those gold diggers) Note: Living in the province will be even more cheaper as the living costs are lower there.
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Is it a monthly allowance or that’s everything you have? If that’s your monthly allowance then you’ll do very well. If you have a house here then that’s much better but there are houses you can rent for $100 per month. Food are cheap if you choose to buy in the local market rather than grocery stores. $50 is enough to supply yourself with 2 weeks worth of food. Electricity and water bills will, of course, depend on how much you consume. However, if $1300 is all you have for your lifetime (without a house here or someone you know who can accommodate you for free), then it’s not a lot. You have to open a business to keep on going. $200 can start a small business.