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Family of 4: Retirement Budget
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What is a good retirement pension amount to live comfortably in Cebu Philippines for a family of four?
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Let me answer you this way: a. you are not paying rent (you own the house) not in the city but in a town. b. schooling not included. c. medical care costs not included. d.you and spouse and children (family of four) are not the lavish type. Twenty thousand pesos or 400 usd will do, maximum usd 500. It is not really that expensive in provincial towns in Cebu province. I speak of the basics. Once you spend for entertainments, that is another story. In a town in Camarines Sur where we live, my wife, one daughter and a maid costs us only P15,000 a month for food and electricity, with some to spare. This does not include the schooling of the girl, which is a separate entry in my mind and pocket. Also her telephone and internet allowance., I assume none of the four is a-schooling, otherwise you have to add usd 200. Province living? My mother’s words are still alive and still ringing in my ears: Save save save, do not fry if you can help it, boil that chicken leg; hence tinola, not fried chicken..
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It would depend on how good you are at negotiating the rent. There are always going to be at least 2 rates; local and foreigner. My step mother lives in Quezon. I believe there are 5 people living with her, she seems to do just fine on about 500 US. That’s including everything. Cebu is probably a little more expensive. But like I said, it all depends on how good your negotiating skills are.