Author Topic: Hi,its henry.....do I have enough money??  (Read 18207 times)

Offline henry

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Hi,its henry.....do I have enough money??
« on: October 15, 2008, 07:04:47 AM »
Hi,its henry here.
hope everyone is doing good today.
well i had a shock today....i own a property 500 ft from the beach in the uk,i had it valued today by a local surveyor....because of the decline in property values the price was not what i hoped it would be....I was going to sell and use the profit to come to the phils with my phil G/F and  my son.

I do have $45,000 in savings in Florida but im thinking it would not be enough to do what I wanted to do in the phils.

So,as experts in the phils what do you think is enough to go to the Phils with,would anyone of you go to the phils with $45,000??.....based on a very conservative approach to living expenses etc how long would the $45,000 last,I have substantial US pension coming due in 5 years and Brit pension kicks in,in 7 years,and of course hope that property prices may increase soon enabeling me to sell the UK property asap.
thankyou.
Henry.

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Re: Hi,its henry.....do I have enough money??
« Reply #1 on: October 15, 2008, 07:59:53 AM »
I think I would wait until the pension kicked in at least one of them. Money has a way of being used up fast when you move to a new locality.

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Re: Hi,its henry.....do I have enough money??
« Reply #2 on: October 15, 2008, 08:50:19 AM »
Hi,its henry here.
hope everyone is doing good today.
well i had a shock today....i own a property 500 ft from the beach in the uk,i had it valued today by a local surveyor....because of the decline in property values the price was not what i hoped it would be....I was going to sell and use the profit to come to the phils with my phil G/F and  my son.

I do have $45,000 in savings in Florida but im thinking it would not be enough to do what I wanted to do in the phils.

So,as experts in the phils what do you think is enough to go to the Phils with,would anyone of you go to the phils with $45,000??.....based on a very conservative approach to living expenses etc how long would the $45,000 last,I have substantial US pension coming due in 5 years and Brit pension kicks in,in 7 years,and of course hope that property prices may increase soon enabeling me to sell the UK property asap.
thankyou.
Henry.


Hi Henry,

I am in the process of selling my property in the UK now, I have lost some money, but I wanted to get on with building my house here. I think you may have to wait quite a few years before property recovers its value.

You could let out your property in the UK, and providing you do not have a large mortgage, the income would be more than enough to rent property here. The additional income added to your $45,000 should be enough for you to live here until you get your pensions. I assume you are married to a Filipina, but do you have any children to support? The other thing to consider is medical expenses. Unlike the UK you have to pay for everything, but not too expensive unless you have a serious problem. We can live reasonably on around P120,000 and that includes P15,000 rent plus help for family members schooling and some medication. We have never broken down the costs but there are some good examples elsewhere on the forum.

Colin

Offline larry

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Re: Hi,its henry.....do I have enough money??
« Reply #3 on: October 15, 2008, 10:42:14 AM »
my self i would go for it !!! stretch ur budget stocks are back ! if the faim wants to borrow then  ur aswa should point them in the right direction  U  That will save u 50   per cent    ::) !! Ithink life is what u make of it having been there and done that  i will leave here USA, Nov 3 and live again  VIVA RP !!!! Land ;D of respect and the  way it once was here !!And know that i will do it on what ever i budjet i select  by the way  we have 6  ;kid\'s  D ;DAuction to be  oct 18 !!!

Offline Beatle

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Re: Hi,its henry.....do I have enough money??
« Reply #4 on: October 15, 2008, 10:57:54 AM »
Hi,its henry here.
hope everyone is doing good today.
well i had a shock today....i own a property 500 ft from the beach in the uk,i had it valued today by a local surveyor....because of the decline in property values the price was not what i hoped it would be....I was going to sell and use the profit to come to the phils with my phil G/F and  my son.

I do have $45,000 in savings in Florida but im thinking it would not be enough to do what I wanted to do in the phils.

So,as experts in the phils what do you think is enough to go to the Phils with,would anyone of you go to the phils with $45,000??.....based on a very conservative approach to living expenses etc how long would the $45,000 last,I have substantial US pension coming due in 5 years and Brit pension kicks in,in 7 years,and of course hope that property prices may increase soon enabling me to sell the UK property asap.
thankyou.
Henry.


   Henry,
               If you have $45,000US  that will last you 5 years if you do not spend any more than $750US a month. But since you need to take into  effect other unknown expenses, if you were to go to the Philippines now, it would be best to at least save $150.00/month after arriving , that will leave you $600US/month to live on.   Is that doable?   Yes, But you would have to live a very frugal lifestyle.  How does that lifestyle compare to your lifestyle now?

     Ray
If you treat a servant like a servant, you will lead a alone. But if you treat a servant like a leader, multitudes will follow.  Beatle

Offline henry

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Re: Hi,its henry.....do I have enough money??
« Reply #5 on: October 15, 2008, 04:53:12 PM »
Hi,its henry.
Thankyou for all your replies.I think that I am gonna go for it!
Weve lived in Florida for 30 years and we are used to the sun and the heat.....especially the sun and there aint much of that in the UK.
I have a phil G/F but she doesnt want to go to the phils for another 3 years,I also have a 25 year old son who is a pilot and would like to fly for an airline in the phils now.

I understand that there is always unexpected expenses etc and one always blows a bunch of money on things when you first set up in a new place....but we dont mind being tight until the pension kicks in.

hope you all have a great day today and thankyou for your great comments and advice.

henry.

Offline coutts00

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Re: Hi,its henry.....do I have enough money??
« Reply #6 on: October 16, 2008, 05:48:13 AM »
Henry,

Do an exploratory trip for 3 months, look around at where you potentially want to live but also remember your Filipina on whom so much of your happiness will be based. If she does not want to make the leap right now wait it out. Get her to commit to the time frame and make a few trips, sight out the land of plenty and beautiful smiles to boot.

Remember you will burn through 5 - 10k of that 45k just setting up your house, money for the ref, washing machine, freezer, stove with an oven, gas bottles, furniture for the sala and of course the mandatory beds etc. Not to mention the need for transport upon your arrival, maybe a bike or a simple car with aircon will take another 5K from your budget. Please take all of these things into account.

Wayne
Wayne  ;D ;D

Offline c_a_p_t_a_i_n_r_o_n

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Re: Hi,its henry.....do I have enough money??
« Reply #7 on: May 15, 2009, 02:37:55 PM »
We can live reasonably on around P120,000 and that includes P15,000 rent plus help for family members schooling and some medication. We have never broken down the costs but there are some good examples elsewhere on the forum.

Colin

Yeeks Colin!!! We get by nicely on around 60-70,000.
Rent 9k, electricity 4k, phone and internet 3k, food 8-12k, 2 nieces in university, 1 in private school

That\'s for me, Glo, 3 nieces (22, 17 & 10 years old) and occasional assistance for Glo\'s 7 brothers/sisters and their families

Offline Lee2

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Re: Hi,its henry.....do I have enough money??
« Reply #8 on: May 15, 2009, 03:13:48 PM »
Henry, I think you are taking a big gamble moving to the Philippines with no income  :o but I sure wish you luck my fellow Floridian.

I know of guys living here in Cebu City on as little as $800 a month with their wives but they do not use air conditioning and have gotten used to the heat. :o I would die, :D but I am spoiled.  ;D

Anyway, back to you, if you can find a place out in the boonies here, you could easily live on a lot less if you do without all the creature comforts. I know of one guy living on less than $200 a month, but is that really living,  ::) some may disagree. I think he is existing and surely not having any fun. I guess we all have different needs and wants and I want to enjoy everyday to the fullest.  8)

Again, good luck and be sure to check back in and let us know how you are doing.
:) Happily married since 1994 & live part of the year in Cebu and the rest in S. Florida.

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Re: Hi,its henry.....do I have enough money??
« Reply #9 on: May 15, 2009, 09:08:01 PM »
We can live reasonably on around P120,000 and that includes P15,000 rent plus help for family members schooling and some medication. We have never broken down the costs but there are some good examples elsewhere on the forum.

Colin

Yeeks Colin!!! We get by nicely on around 60-70,000.
Rent 9k, electricity 4k, phone and internet 3k, food 8-12k, 2 nieces in university, 1 in private school

That\'s for me, Glo, 3 nieces (22, 17 & 10 years old) and occasional assistance for Glo\'s 7 brothers/sisters and their families

We could also get by nicely on 60-70,000, and some months we do, but I don\'t choose to budget, I don\'t want to just get by I want to live reasonably.

Colin

Offline tom.inbigdtexas

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Re: Hi,its henry.....do I have enough money??
« Reply #10 on: May 17, 2009, 06:27:59 PM »
Hello Henry,

Many posts on this and other sites reflect monthly expenses of less than $1,000, with many around $1,500, and a few ranging near $2,500.  Since I would rather be pleasantly surprised than to find the costs to be more than I anticipate --- in an effort to over-estimate the costs of living, I collected the highest cost for each item that I saw posted by anyone on this forum and several other sites.  Obviously, the upper limit on many items could be increased to whatever one wished to spend, but the following would seem to be the most one would need to spend for a more than comfortable   8)  lifestyle.

Again... this \"budget\" is not intended to reflect how much it is actually necessary to spend, but rather the upper limit of what is being spent by the highest spenders who have posted their expenses.     

Monthly Budget
Rent - 40,000
Electricity (aircon, etc) - 10,000
Fuel/expense (vehicles) - 5,000
Propane (cooking) - 700
Drinking water (bottled) - 700
House water - 800
Broadband/DSL - 2,000
Cable/Sat - 1,000
Cell phone - 2,000
Local phone - 800
Food (groceries only) - 15,000
Food (eating out) - 5,000
Household Misc (bug spray, cleaning supplies, etc) - 1,500
Personal care (shampoo, toothpaste, etc) - 1,500
Entertainment - 15,000
Helpers - 5,000
Insurance (health) - 5,000
Immigration fees - 1,000
Family assistance - 15,000
Misc - 20,000
Total – P147,000 (approx. $3,100 at approx. 48 to 1)

I know from prior posts that many on this forum are spending far less than above on many items, but if anyone is spending more for particular items, or if there are other items you are spending on, please post them.

Thank you, Tom.
Dallas, Tx, USA
Mactan, Cebu, PH

Offline coutts00

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Re: Hi,its henry.....do I have enough money??
« Reply #11 on: May 18, 2009, 06:55:19 AM »
Thanks Tom,

Very concise and to the point, we should actually list this post under another heading for anyone looking for actual costs of living here. Some are a little over the top, like the rent etc, but the rest of it is actually quite close.

Wayne  ;D
Wayne  ;D ;D

Offline tom.inbigdtexas

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Re: Hi,its henry.....do I have enough money??
« Reply #12 on: May 18, 2009, 04:45:55 PM »
Thanks Tom,

Very concise and to the point, we should actually list this post under another heading for anyone looking for actual costs of living here. Some are a little over the top, like the rent etc, but the rest of it is actually quite close.

Wayne  ;D

Wayne,

I thought this was the heading (Living Costs.....) where this should be posted.  Let me know if there is somewhere more appropriate and I\'ll \"cut n paste\" it there. 

I realize some of the items are above most of the reported spending, but I intentionally went with the high end of the bell curve of what I could find reported on this and other sites.  I know that all of our goals after the move are different, many dictated by our specific circumstances, but since several have reported the above costs, I assume they feel the costs are necessary to meet their goals.  Some higher costs were reported, but I felt they were just too far out of the reported norm, e.g., rent P150,000; electricity P20,000; food P25,000.   :o

I have gleaned a lot of information from your posts over the last two years while I was trying to map out my general plans.  I appreciate it, and any additional thoughts you have would be appreciated.

Tom

         
Dallas, Tx, USA
Mactan, Cebu, PH

Offline coutts00

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Re: Hi,its henry.....do I have enough money??
« Reply #13 on: May 18, 2009, 05:47:17 PM »
Tom,

Not so much that this is not the right place to put it, but some of this info could be put in a facts area. Often even with the search function that most don\'t use, there is so much info that wading through it will put some people off. If some of this info was put in a frequently asked questions area, and updated regularly, it wold serve a lot of people. It could be broken down into regions or Island groups, cities and provinces. If living in Manila or environs electricity will cost 10k php for a 3 bedroom house 2 air conditioners 2 computers 3 TV\'s and 1 ref and 1 freezer. That sort of thing, peoples examples may vary but it will give an example of costs.

It might help a lot of our members who don\'t necessarily want to go wading through the data to find what they are looking for. I might bring it up with Jack at some point, if I can remember to. He does not use his skype much these days so we rarely stay in touch.

Wayne  ;D
Wayne  ;D ;D

Offline Gray Wolf

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Re: Hi,its henry.....do I have enough money??
« Reply #14 on: May 20, 2009, 12:01:34 AM »
Awww Wayne, it\'s not that I don\'t miss our engaging conversations, it\'s just that Jack be busy working trying to earn enough money to live his dream while there\'s still time to enjoy it and before the politicians in the US take everything I own!   ;D

Everything you say about the \"new\" topic is exactly what we have already.  I see no need to start a new section that has essentially the same info we have already.   ???

Tom\'s post gives what he planned, basically the upper middle class lifestyle expenses.  Or am I missing something?
Louisville, KY USA - Bagong Silang, Caloocan City, PH

 


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