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Investment Needed for 40 Year Retirement
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We would like to retire soon and be able to live in the Philippines, assuming our retirement will last 40 years, how much in investments will we need and where to invest?
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Your question can’t be answered adequately without more information. There are a number of ex pats who have blogs about life in the Philippines. You can google “life in the Philippines” So the questions for you are: Are you U. S. citizens and both be getting Social Security? Do you have any investments now, 401K, IRA, savings, Where to invest? Do you mean in the Philippines or here? Do you have any Filopino connections? Are you Filopino? For investment advice you should see a fee only financial advisor. How much you will need in retirement depends on a few things. One where do you plan to live, in a big city like Manila or Cebu or in a rural area? It’s more expensive in a big city. If you’re not Filopino there are immigration issues. Do you have any health issues? $1500-$2000 a month will suffice if either you are in a rural area or don’t eat out much in a big city.
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Learn about the 4% rule and asset allocation. 300k will equal $1,000 per month (12k a year), 600k = 24k per year inflation adjusted and so on. But it is important you are invested right as well. How much can you safely withdraw from a portfolio in retirement?Adam Fayed Podcast