Author Topic: Hi,its henry.....do I have enough money??  (Read 18362 times)

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 #30 on: May 22, 2009, 10:42:17 PM »
Tom

Only possible flaw I see in your plan is highspeed internet - that\'ll restrict you to living in major metropolitan areas

We have broadband here in Tagbilaran, BOHOL but I\'m told that I\'ll loose that capability when I move onto Panglao Island next year
UNLESS I invest in satellite system........

Offline tom.inbigdtexas

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Re: Hi,its henry.....do I have enough money??
« Reply #31 on: May 25, 2009, 08:33:32 AM »
Colin,

Thanks for sharing your thoughts on retirement.  Your philosophy concerning lifestyle, helping family, etc., seems similar to mine.

Also, thanks you for taking the time to itemize your expenses.  After reviewing it, I think my item of \"entertainment\" is likely misunderstood, so at some point I will recalculate and repost my \"worst case scenario\" anticipated expenses, and will modify \"entertainment\" to include:

Entertainment (family outings, birthdays, parties) - 4,000
Entertainment (leisure travel within the Philippines) - 15,000
Entertainment (local activities, hobbies, hanging out) - 2,500
Annual U.S. trip to visit family, etc. (escrow) - 15,000

I will also add:
Medical (spend or escrow) - 10,000

These changes will allow me to reduce \"misc\" down to a much smaller figure.

Just curious, once your house is finished, what do you estimate it would cost to rent a house in your area comparable to your new house? 

Captainron - I may not be as adventurous as Colin (Palawan) or you (Panglao), so I will likely remain in or near Cebu City or one of the other major cities in the Visayas.  Good luck on your move.
   
Tom.
Dallas, Tx, USA
Mactan, Cebu, PH

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Re: Hi,its henry.....do I have enough money??
« Reply #32 on: May 25, 2009, 10:23:34 AM »

Just curious, once your house is finished, what do you estimate it would cost to rent a house in your area comparable to your new house? 

Tom.

Very hard to say, because we have not seen any similar houses for rent. I would guess a lot more than the P15,000 we pay for our present oldish house on a small lot but a lot less than the house we rented in Ayala Alabang, Manila. That was a largish but older 3 bedroom house at the back of a very exclusive gated community and cost P55,000 a month. We did see a modern but very small 3 bedroom house near our lot for rent at P20,000, so if I had to guess I would have to say perhaps P35,000. But it not going to happen, we will be there to stay.

Colin

Offline tom.inbigdtexas

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Re: Hi,its henry.....do I have enough money??
« Reply #33 on: May 27, 2009, 10:24:52 AM »
Colin,

Thank you for all the great information.  Just based on your experience, I am beginning to feel that my \"worst case scenario\" budget may be closer to \"reasonably anticipated reality.\"  I\'ve followed your other posts, and your website, concerning your building plans.  I look forward to seeing the finished project (yeah, right... are they ever \"finished?\").

If you happen to think of some of those \"hidden costs\" of living in the Philippines that I\'m sure you have learned the hard way, I would appreciate your letting me know. 

Thanks, Tom.     
Dallas, Tx, USA
Mactan, Cebu, PH

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What is the cost of living in Tacloban City?
« Reply #34 on: May 29, 2009, 02:15:16 AM »
I have read the postings here, and also asked my son (who went to the Philippines to finish his degree) how much it cost to live in Cebu. He told me that with $1,000.00 one could live a very comfortable life in Cebu. I asked about the cost in Tacloban and got an even smaller figure. His father lives in Ormoc on a pension of $950.00.

Can anyone give me a reasonable figure for a single woman with no kids living in Tacloban in a two bedroom, 1 or 2 bath with no car? Just the figures for rent, utilities, wireless connection, food, maid etc??? I don\'t watch TV. My only real need would be one air conditioned room-only to be turned on at night. I could survive in a one bedroom, 1 bath house too. Not in the city. I need some solitude, but close enough to ride a jeepney or tricyle.

Will $700.00 a month suffice? I can afford more, but don\'t want to pay more. I need to save money. I have a pension.

All the contradictions are making my head spin. Would love some feedback. ;D

Offline tom.inbigdtexas

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Re: Hi,its henry.....do I have enough money??
« Reply #35 on: May 29, 2009, 06:34:44 AM »
...reasonable figure for a single woman... no kids... two bedroom... no car... no TV... one air conditioned room only at night...

Will $700.00 a month suffice? I can afford more... have a pension.

Hi Meg,

I guess I am the Forum\'s skeptic of the \"live like a king in paradise on $400 a month\" posts that you sometimes see on various sites.  I do not really believe there is much contradiction, rather just too much loose terminology... e.g., the quote in the last sentence.

The problem is, what some might consider \"a very comfortable life,\" others might consider \"a miserable day-to-day survival.\"   Some people\'s \"dream life in paradise\" is for other a \"nightmare in a foreign land.\"

That being said... I\'ll be the first to say that - given the parameters of what you are seeking - I would think that you could pay your routine bills on $700 a month (once you have paid the initial moving and set-up costs).  If you do not have a nest-egg for emergencies, make sure your pension is enough to allow you to accrue some monthly savings over and above the $700.

Welcome to the Forum and good luck with your plans.   :)

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

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Re: Hi,its henry.....do I have enough money??
« Reply #36 on: May 29, 2009, 08:06:28 AM »
Thanks for the information, Tom. My pension is fairly decent and if I only spend $700.00 a month in the Philippines it leaves me quite a bit for savings. I am starting to get skeptical about moving to the Philippines permanently. Although I am not looking to live an extravagant life style I would like a place that has a flushable toilet and other necessary amenities such as a refrigerator and stove. I got an email from another ex pat who told me that if I don\'t live in the city I would have to use a bucket of water to flush the john and to wash. And, the floors are made of cement and dyed. I don\'t think so. Right now I am looking around where I live (Colorado) to see if I can find a small one bedroom, 1 bath-that is affordable. I don\'t want to go back to work. I have been retired for 15 years (since I was 46) and the idea of going back to work does not excite me in the least. I am going to Tacloban to re-group. I am going through a divorce. I will be living with my older brother in our family farm. The reason I am inquiring about places to stay is in case I do not like living with said brother. My stay will be approxiamtely 6-9 months. I plan on returning to the US sometime in Apri 2010 to apply for partial social security next year when I turn 62. That additional income will ensure that I do not have to work again. My brain is fried from trying to figure things out. I could very well spend $1,500 in the Philippines and still save money, but that is not what I want. I want to save as much as I can while I can. As for the use of \"contradictions\" I guess it is a matter of semantics  ;D.

Thanks again for the feedback. Much appreciated.

Offline coutts00

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Re: Hi,its henry.....do I have enough money??
« Reply #37 on: May 29, 2009, 08:50:47 AM »
Meg,

Location specifics are variable but this should give you a fair idea.

When we first moved over we decided to live in the province and we already had one motorcycle from a previous visit. We purchased a second one so my wife and I could ride together but separate.

We sent over our stuff in Balikbayan boxes. $1200 USD for shipping. Its gone up now but you get the idea, you can add 30% to any prices quoted and you should be in the ball park.

Our 3 bedroom, 1 bath, and flushable toilet house in a nice area of a major town in the province was 8000php a month.
Electrics came to 6000 php a month with the aircon on at night and 2 fans during the day and a 26 inch TV on all day, mama was staying with us and liked her soaps, all of them.

A new ref was needed 25000 php,
a new stove was needed, one with an oven, 35000 php.
Washing Machine 20000 php,
Lounge furniture was needed 25000 php.
Bedroom furniture main bedroom, 20000 php.
Water per month, 600 php,
Internet 1000 php,
Live in maid 3000 php, food is up to you, I fed a family of 6 - 7 people on a daily basis and my monthly expenses were running at 42 - 45k per month, allowing for food, utilities, bike payments and fuel.

Figure setting up the place you will drop 5 - 10k USD and then minimal living expenses from there on in. Your entertainment etc is up to you. If you want your own car, figure a decent one costing 5 - 7 k USD. More if you want to spend more and allow some for maintenance as well.

Wayne.   ;D ;D
Wayne  ;D ;D

Offline Gray Wolf

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Re: Hi,its henry.....do I have enough money??
« Reply #38 on: May 29, 2009, 09:33:29 AM »
Meg,

You won\'t need to return to the US to file for SS.  You can file at the US embassy in Manila.
Louisville, KY USA - Bagong Silang, Caloocan City, PH

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Re: Hi,its henry.....do I have enough money??
« Reply #39 on: May 29, 2009, 10:35:13 PM »
Thanks Gray wolf. That\'s aload off my mind. ;D

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Re: Hi,its henry.....do I have enough money??
« Reply #40 on: May 29, 2009, 10:38:47 PM »
Thanks for the information, Wayne. This gives me an idea of what it will take to settle in the Philippines, if that appeals to me. Right now my plan is simply to \"scout\" the area. Hopefully, my brother can help me to make a decision that will be beneficial to me. I may build a house on my property or sell it and return to the US. All of these questions I have asked are simply fact finding so that I won\'t look like such an ignoramus when I arrive in Tacloban. ;D

Offline Hank S.

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Re: Hi,its henry.....do I have enough money??
« Reply #41 on: January 12, 2011, 09:29:34 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
Colin, must be nice to be a millionaire, lol.

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Re: Hi,its henry.....do I have enough money??
« Reply #42 on: January 15, 2011, 03:22:07 PM »
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
Colin, must be nice to be a millionaire, lol.

Not sure where that comment came from, and it is a very old post.

You don\'t need much money to become a Peso Millionaire, and I am just a pensioner in the UK. The money I am spending on building my house comes from selling my UK house which has taken a lifetime of paying a mortgage, plus having to give half of it away to my ex wife. :(

Colin

Offline B.Wolfe

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Re: Hi,its henry.....do I have enough money??
« Reply #43 on: January 16, 2011, 02:36:00 AM »
Thanks for the information, Tom. My pension is fairly decent and if I only spend $700.00 a month in the Philippines it leaves me quite a bit for savings. I am starting to get skeptical about moving to the Philippines permanently. Although I am not looking to live an extravagant life style I would like a place that has a flushable toilet and other necessary amenities such as a refrigerator and stove. I got an email from another ex pat who told me that if I don\'t live in the city I would have to use a bucket of water to flush the john and to wash. And, the floors are made of cement and dyed. I don\'t think so. Right now I am looking around where I live (Colorado) to see if I can find a small one bedroom, 1 bath-that is affordable. I don\'t want to go back to work. I have been retired for 15 years (since I was 46) and the idea of going back to work does not excite me in the least. I am going to Tacloban to re-group. I am going through a divorce. I will be living with my older brother in our family farm. The reason I am inquiring about places to stay is in case I do not like living with said brother. My stay will be approxiamtely 6-9 months. I plan on returning to the US sometime in Apri 2010 to apply for partial social security next year when I turn 62. That additional income will ensure that I do not have to work again. My brain is fried from trying to figure things out. I could very well spend $1,500 in the Philippines and still save money, but that is not what I want. I want to save as much as I can while I can. As for the use of \"contradictions\" I guess it is a matter of semantics  ;D.

Thanks again for the feedback. Much appreciated.

I just got back to Canada from a 49 day trip to Gabas, Leyte, not a major town by any means, but close to Baybay, which is a place where you can obtain things. While there, I upgraded m,y brother-in-law\'s bathroom and shower, by installing ceramic tiles. Before  doing that, I just had tom change some plumbing issues, such as shower valve embedded in the concrete wall so the valve couldn\'t be changed, etc. I priced the toilet fixtures, with a thought of changing the bucket flush to a flush toilet, but the bucket flush was embedded in the concrete floor, and I decided to leave it there. The difference in price is the main reason why there are bucket flush toilets. For about P500, you can buy one, as for flush types, they start at P2000.  That is the only difference.  The septic system is the same for both, Both flush into a septic tank. If you can afford the difference in price, install a flush toilet, but get it installed correctly, wax seal & all. Some day service may be needed, and that makes it so much easier.

Offline Hank S.

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Re: Hi,its henry.....do I have enough money??
« Reply #44 on: January 17, 2011, 07:39:40 AM »
Henry.

If I were you or anyone else for that matter, convert your pounds or americans your $\'s into php pronto. $ users! have you noticed the $ slide? not finished yet. Have it from the best sources that since the US just keeps printing money without anything backing it, the $ will not be the\"World Standard\" within 2 years.

I know some of you if not most will call this BS, but I already see it over here. Some retailers in the big cities do not accept $\'s anymore, some, in El Paso prefer mexican money. I could go on and on what is happening here in the States which does not look good. 1937 is on its way, already started, that is why I am shipping MY money to the RP while I still get a decent exchange rate.

Think about it.