Share
Budget with USD $50K total
ReportQuestion
Please briefly explain why you feel this question should be reported.
What are the chances of moving to the Philippines with 50,000 dollars? Is there any way of generating income there with 50,000 dollars?
Answers ( 2 )
Please briefly explain why you feel this answer should be reported.
There most certain is. However, be aware that corruption is still widespread in the Philippines so you really need to be careful and make sure you are dealing with people you can trust which unfortunately will not be too high of a number. It is just in the Filipino culture to always attempt to cheat foreigners as for most Filipinos cheating is a way of life and if you are not careful for $50,000.00 you can certainly lose your life for that amount of money there. Unless you are quick to put it into a legal real estate investment there, don’t tell anyone you have such money, or put it into a bank account of some kind. This is from someone who has visited the Philippines many , many times, have lived there full time and almost lost their life over a measly $2,000.00 I will tell you ways I have earned money in the Philippines. I once used to lend money to a business owner who operated several gas stations and a large restaurant. He paid me a steady 8% per month on my money. I also would buy rice wholesale from rice farmers and sell it to other rice wholesalers just a few miles away but I could double my money about once every 5 months for a 200% gain per year. It all depends on what kind of individual you are and how you carry yourself. There are a lot of ways to do business in the Philippines but you have to be smart and capable. It is nothing like doing business in the USA where there are so many laws and avenues of protection. While in the Philippines almost not a single day went by without someone warning me about one thing or another. I would suggest you really take your time to become completely familiar with how things work in the Philippines and that may involve years before you are ready to venture out to try to earn money there, but who knows you just may get lucky, who am I to say? The Philippines is a place where the top 1% of earners earn nothing more than $20,000.00 per years so with $50,000.00 you will be considered a big shot. Don’t let that go to your head as there are spiders all over the Philippines highly skilled at catching flies and yes to them you will be a fly to catch and have for breakfast.
Please briefly explain why you feel this answer should be reported.
As said before it depends what lifestyle you want. As a foreigner I would guess living in the province your need 1000–1500$ a month. That includes eating good foods drinking a beer and travel once and awhile. I can't see a foreigner really survive happily on much less. Surely locals manage to live by with less. Assuming 1500$ your initial investment of $50k will not cut it. Even at the 10% earlier mentioned gives only 5000 a year. Or less than 500/month. A very very basic life would that money pay you. Plus the 10% is an extraordinary return.