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$200K Nest Egg = Wealthy
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If you move to the Philippines with 200,000 USD, would you be rich if 1 USD is 53 PHP?
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If you move to the Philippines with 200,000 USD, would you be rich if 1 USD is 53 PHP?
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NO, you’re not! $200k can just buy you a 1 bedroom condo unit in BGC, one of the business centers in the Phils. $200k can only buy you a nice 2-bedroom house and lot in a suburban place in Metro Manila. $200k can only buy you a 2 acre farm with a nice 3-bedroom bungalow. Any of these can just be one of the basic necessities you need to live in the Philippines. How about a car to move you around which can cost you around $30k? Where will you get your regular funds for food, utilities, healthcare, clothing? $200k can definitely provide you a jump start and probably a bit of a comfortable life for a couple of years… but it cannot sustain you to live a luxurious and RICH LIFE in the Philippines. $1,000k can be the magic number!
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$200,000 does not make you rich in any country. A vehicle of an given brand/model costs about the same regardless of what country you live in. You can live comfortably in the Philippines on $200,000 if you invest it wisely and live off the dividends (maybe 40k-50k PHP a month) but you won’t be rich. The wealthiest family I know personally is here in the Philippines and they earn nearly 1,000,000 PHP a month… still, I don’t consider them rich.