Author Topic: Retirement visa or Tourist visa?  (Read 33999 times)

Offline Lee2

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Re: Retirement visa or Tourist visa?
« Reply #30 on: September 10, 2013, 10:30:03 PM »
Yup I thank my lucky stars everyday that I could be retired and I find it a shame that many can't retire and still have to work and also I find that many of those who cannot retire seem to blame others for their own poor planning. I cannot speak of other countries but in the US I have always (after my teenage years) lived below my income even when it was small and I always was the first one willing to work overtime or two jobs and at some points 3 jobs in order to have a better life in retirement but even with good planning many were hurt badly by the downturn, apparently because they did not see the crash coming.  :(
:) Happily married since 1994 & live part of the year in Cebu and the rest in S. Florida.

Offline FLYBOYRD49

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Re: Retirement visa or Tourist visa?
« Reply #31 on: September 11, 2013, 02:33:19 AM »
Lee I am happy for you and glad your plan worked, I have so many friends that lost most everything including their savings plus 401k when to downturn of the economy hit. Most of them will never recover and will have to work until they are physically unable to work. That's one of the reasons why my wife and I will by nothing unless forced to that says "made in China"! We have actually found quote alot of clothes made in the Philippines, Indonesia, Thailand and of course India. We do some of our shopping at a local Philippine market but even some of the can goods there are made in China. We are however able to find her favorite SOY SAUCE called White Swan that is made in Makati.

Offline coleman2347

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Re: Retirement visa or Tourist visa?
« Reply #32 on: September 11, 2013, 01:35:05 PM »
Yup I thank my lucky stars everyday that I could be retired and I find it a shame that many can't retire and still have to work and also I find that many of those who cannot retire seem to blame others for their own poor planning. I cannot speak of other countries but in the US I have always (after my teenage years) lived below my income even when it was small and I always was the first one willing to work overtime or two jobs and at some points 3 jobs in order to have a better life in retirement but even with good planning many were hurt badly by the downturn, apparently because they did not see the crash coming.  :(
I totally agree, many of my friends lost most of their retirement account, I was working for DOD at the time and lost a bunch but not as bad as some.  Those of us who are retired military are extremely fortunate.  I wish I could say that I planed it that way but I did not.  Circumstances and a couple of govt. retirement checks allowed me to retire here...
The only thing worse than wanting to do it is not doing it

Offline Art, just a re(tired) Fil-Am

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Re: Retirement visa or Tourist visa?
« Reply #33 on: September 11, 2013, 04:01:30 PM »
I didn't plan my Civil Service retirement either, because in the mid and late 90s there was a manpower and base reduction going on during President Clinton's administration and the government was offering early Civil Service retirements to those who qualified with 25 yrs of service at any age, but with penalties that reduced one's net monthly pension! Well, I had 30 yrs of service and I was only 48 yrs old in 1997 at the time and I jumped at the chance faster than anyone can shake a stick at, with penalties or whatever and moved to the Philippines in 1998 with my meager Civil Service retirement pension and my tiny 20% V.A. Disability Compensation! 15 yrs years later we're still here in the Philippines and still doing fine! When my other pensions kicked in at age 60 and 62, it doubled my U.S. Government pensions making me a "Quadruple Dipper" and it was all "earned entitlements" with "no freebies" coming out of U.S. tax payer's pockets, I too pay taxes on my earned income!
It sure was a wonderful feeling finally collecting all of my U.S. government pensions, because it took a load off of my mind and we didn't have to pinch pennies anymore from then on!
The only worrisome issue is this TRICARE Standard Military Health Care System fiasco in the Philippines, because it's complicated, tedious and frustrating to get health care and file reimbursement claims! Sure it works as long one has the cash to pay upfront payment in full if one is ever admitted for inpatient care and is patient about filing one's claims after the fact! So far, we have never used TRICARE for any inpatient care! BTW, we do have PhilHealth! Anyway, it's better than nothing at all! "Knock on wood"! :)   
« Last Edit: September 11, 2013, 05:41:07 PM by Art, re(tired) Fil/Am »
"Life is what we all make it to be"!
"It's always a matter of money"!
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Offline FLYBOYRD49

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Re: Retirement visa or Tourist visa?
« Reply #34 on: September 11, 2013, 09:17:22 PM »
I have been reading most of the posts since joining the forum, especially about all of the requirements, places to live, cost of living etc...I have seen guys living for as little as $700 per month with a family but he lived in a small community on an island. From all of this I gathered that depending on your life style and where you retire in RP an income of $1000 per month is enough, to me that seems like a small amount but again, lifestyle and where you retire is key.
So ART, Lee and Coleman....what you you say is enough for a family of three to survive comfortably in the RP?

Offline Art, just a re(tired) Fil-Am

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Re: Retirement visa or Tourist visa?
« Reply #35 on: September 11, 2013, 10:34:09 PM »
FLYBOYRD49.
You have already answered your own question by saying, "I gathered that depending on your lifestyle and where you retire in RP an income of $1000 per month is enough, to me that seems like a small amount, but again, lifestyle and where you live is the key".
Yeah, it's all about "boots on the ground" and to experience your own lifestyle depending where and what is or will be affordable by your family's particular situation and desired lifestyle! Everyone is different! Some like to live a secluded or isolated lifestyle up in the boonies, in a Nipa Hut by the seashore, in the city, province or in the suburbs! Me and my wife, we prefer a modern upscale suburban area with all the amenities like in the U.S., where we live now is pretty close to that somewhat and we're happy and content where we live and have been the past 12 years in our own home, but we need more than just a $1,000 a month just to feed my face alone ;), but granted we can also be happy and content living anywhere in the Philippines as long the weather is cooler and or mild and we can afford the modern Western lifestyle we prefer!  :o ??? ;)
« Last Edit: September 11, 2013, 11:33:55 PM by Art, re(tired) Fil/Am »
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline Lee2

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Re: Retirement visa or Tourist visa?
« Reply #36 on: September 11, 2013, 10:51:21 PM »
I have been reading most of the posts since joining the forum, especially about all of the requirements, places to live, cost of living etc...I have seen guys living for as little as $700 per month with a family but he lived in a small community on an island. From all of this I gathered that depending on your life style and where you retire in RP an income of $1000 per month is enough, to me that seems like a small amount but again, lifestyle and where you retire is key.
So ART, Lee and Coleman....what you you say is enough for a family of three to survive comfortably in the RP?

As you and others wrote, it depends on your lifestyle. One thing is to do what myself and others usually suggest and have a couple of high limit credit cards or a bunch of cash in the bank to fall back on but my advice would also be to make believe that cash or credit does not exist except for real emergencies and not wants.

If you wish to live like a local might do and possibly even move in with a wife's family, then you could probably live on very little except if family becomes an issue. I personally do not feel $1000 a month is enough for everything, at least not until you have gotten many of the issues out of the way such as being married, being lucky enough to not have family always asking for money and having a 13a or having already paid for a SRRV and then only having to pay the yearly fees. The one thing I have seen in the Philippines and even in the US is that nothing is a constant, so the rules change all the time and it seems the Philippine govt does its best to part us rich (as they think we are) foreigners with as much as they can, so they keep instituting new things such as ACR cards that end up costing some of us money.

I have a friend who went to the Philippines on about that amount you quoted a month and it was fine as long as he had some money in the bank to fall back on for emergencies and for unexpected things. I believe my friend lives a fairly simple life but he told me this year that he can no longer make ends meet on what he gets.

My former downstairs neighbor in the condo building we live was getting over $1000 a month and as the peso exchange went down, he had to stop his medicare payments in order to survive, that took a trip to the embassy in Manila which cost put him in a hole that he never seemed to come out of and on top of that he got sick and did not have the money for meds and had to borrow from neighbors but he went to the Philippines with cash and bought a condo unit that he later had to sell because his $1000 a month was no longer enough for his lifestyle, so he sold the larger unit he owned and downsized to a smaller condo in another building so that he had money left over but not long after he told me he put that other unit up for sale and once it is sold he wanted to rent a unit in our building which tells me he must have supplemented his income with the extra money he got for the larger condo unit over the smaller one until it almost ran out and now wants to rent with what is left over.

So again it is all about what makes a person happy, their health issues, visa costs and especially the cost of rent and electric which can be the biggest nut out of your $1000. I use my a/c 24/7 due to all the pollution and my health issues, so that cost us about $300 a month alone but used to cost us about $225 a month, no a/c would probably cost us less than $100 a month but we do not have rent because we own, so all we have is condo monthly fees of about $60 and property taxes of about $20 a month and while we used to eat out 5 or 6 times a week, this last trip we only ate out 2 or 3 times a week and still could not live on $1500 a month when we used to live on $1000 a month a few years back. The cost of living has gone up and they exchange rate has gone against us, so IMHO it is better to have more and not spend it than to have less and need more.

If all a person has it $1000 then so be it but then IMO they must learn to live on around $600 a month so they have something to fall back on when the unexpected comes about and they need to hope it does not happen for years while they build a nest egg. In the US there is the govt to fall back on, in the Philippines we (foreigners) are basically on our own. An example of unexpected costs for us is that this past stay my wife's sister needed an operation and her brother got stabbed and needed some help as well with the bills and both of them had some govt assistance such as PhilHealth etc but that did not cover some items and much of the costs, so there is no way I would or could not help them, even if it meant a much leaner life for us or borrowing the money which of course has to be repaid. 
« Last Edit: September 11, 2013, 11:04:41 PM by Lee »
:) Happily married since 1994 & live part of the year in Cebu and the rest in S. Florida.

Offline FLYBOYRD49

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Re: Retirement visa or Tourist visa?
« Reply #37 on: September 12, 2013, 02:22:41 AM »
Thanks guys its interesting to hear the views from guys living the dream and in the trenches (so to speak) it seems that we all agree on a few things 1) lifestyle 2) expect the unexpected 3) simple is the best 4) have a nest egg 4) foreigners are on their own in RP.

My wife comes from a community to south of Cebu (ronda) she doesn't want to live there because it is very rural, its at least 2 hours with light traffic to CEBU. I guess I spoiled her because in the US we live in a gated community in the suburbs of a large Metropolis i.e. Nashville. I told her the cost of living would be far less in her home town than CEBU but as you know....I lost that battle :)

Offline medic3500

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Re: Retirement visa or Tourist visa?
« Reply #38 on: September 12, 2013, 09:51:13 AM »
I did the same as Art, grabbing the early retirement. Unfortunately,mine hasn't turned out as well as Arts. I had 30 years federal service but not the age. CPO calculated the retirement I thought that's awesome and never looked back. This was in 2009, I received a letter from CPO beginning of last year saying that they had audited my records, and I have been over paid since day one and they started an auto deduction of $600.00 a month for the next 3 years. That hurts badly when you are retried and depending on that amount. Moral of the story is for anyone looking to retire in the near future, make sure the i's are dotted the T's crossed and you check your annuity over ten times before signing.

Offline BingColin

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Re: Retirement visa or Tourist visa?
« Reply #39 on: September 15, 2013, 03:54:36 PM »
I have more than the $1000 talked about here, and I think it would be very difficult, but not completely impossible, to manage on a figure that low regardless of the standard of living.

I took early release/retirement at the age of 53 and that was 23 years ago. I went straight onto a reasonable pension that was index linked. At 65 I received my UK government pension and a few years ago Bing received a partial government pension, both index linked. I donít know how the cost of living compares between the UK and the Philippines, but we donít seem to be any worse off. I consider myself to be lucky to be in this situation, but then my father told me to get a job with a good pension, and the early release scheme was a bonus.

I sold my house in the UK which almost covered the cost of building our house here, but we still have a lot of finishing touches to do. We try to budget for a small improvement project every month. We therefore have no rent to pay but still have property tax etc plus water and expensive electricity. We use very little aircon, the house was designed to be fairly comfortable without it. I also feel it important to try to adapt to the climate here although periods of high humidity do make it uncomfortable at times.

We only eat out about once a week when we go shopping, mainly because we get tired of the restaurant food and prefer home cooking.

The biggest problem for us would be medical expenses. I donít believe that medical insurance is the right way to go. Apart from the fact that at my age, even if I could get it, it would be prohibitively expensive. I think that if you are young enough to be reasonably healthy it is far better to put the possible insurance premiums into saving so that when you get older and your health unfortunately start to decline, then you are covered. None of us really expect to get ill but the body does wear out  :(.

We have helped out relatives with medical expenses and may have spent in excess of P1.5M but it was necessary. We have also made it clear that we expect all family members to have Philhealth as a minimum. We are also paying for the education of the children so that they can get jobs to look after both themselves and the new younger generation.

Offline Art, just a re(tired) Fil-Am

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Re: Retirement visa or Tourist visa?
« Reply #40 on: September 15, 2013, 04:18:52 PM »
Colin,
You are fortunate that your retirement went well and sold your U.K. home for a nice profit before the bubble burst in the real estate market!
When the recession hit, it hurt a lot of home owners and investors and pratically lost everything even their jobs!
Yeah, the best anyone can do while theyíre still young is to stay employed and save for their future anyway they can, but in a smart way by managing their money wisely! I myself worked since I was 18 yrs old and took an early retirement at the age of 47 with 30 yrs of government service and we moved to the Philippines immediately after retiring, because my small government pension at the time was not enough to live on in Northern California at that time in 1997 which the following year we moved to the Philippines and have lived here ever since happy and content, since I started receiving all of my other pensions at age 60 and 62 doubling my income, I just turned 65 and doing well health wise!   
Thatís why the Philippines is so enticing, because of the low cost of living and the Philippine government are now doing their best by changing some of their immigration laws for foreigners to stay longer here in the Philippines, for example: The new 6 month LSVVE tourist visa extension, SRRV, 13a/g permanent resident visas and the Balikbayan Program and for the former Filipino citizens, attaining Dual Citizenship status under RA 9225!   
 
« Last Edit: September 15, 2013, 04:49:10 PM by Art, re(tired) Fil/Am »
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline FLYBOYRD49

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Re: Retirement visa or Tourist visa?
« Reply #41 on: September 16, 2013, 10:08:48 PM »
Guys what is really sad is the younger generation, I mean those in their 30's and 40's that will not have SS to fall back on and they can't save any money because most people that I know are living pay to pay.
When you do the math it spells out poverty!

Offline Metz

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Re: Retirement visa or Tourist visa?
« Reply #42 on: November 01, 2013, 08:05:53 AM »
There is always the third option visa.  That is a work visa.  With the new BS requirements for a police certificate now it is simpler to get a work visa for 3 years that does not have as much paperwork requirements.

Offline medic3500

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Re: Retirement visa or Tourist visa?
« Reply #43 on: November 01, 2013, 06:57:41 PM »
This is FYI only, I thought I replied to a different message but must have closed before hitting sent.

The BI branch office at SM Mall North Edsa has relocated to the Upper Ground Floor of the Annex next to the new Medical City Clinic. Sign on door states they are open Mon-Sat 0900-1900. I didn't know government offices were open on Saturday or open past 5pm but thats what the sign says. I was there yesterday to renew..

Dan

Offline coleman2347

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Re: Retirement visa or Tourist visa?
« Reply #44 on: November 06, 2013, 09:47:20 AM »
Just an update, we (Maline and I) just got back from Cebu in conjunction with my get out of town trip. Went to the consulate there and got the paper I need to finally get married.  As soon as that's accomplished I will apply for the 13a. 

I just read through this whole thread (again) and thought I would update some thoughts...
If you were single and lived by yourself I think you could live on $1000 usd but dont think you would live very high on the hog.

If your married, she does not work, have kids etc...it really cost a lot...not as much as in the States but close.  Maline and I do not live extravagantly but we do live good.  We put 5 kids through private school (thats going to change next year) and usually entertain her two sisters and their spouses several days a week as they help take care of William and the house.

I was figuring out bills the other night and was surprised that we usually spend about 140k on everything.  With all the kids and relatives we go through a 50kilo bag of rice a month...and god knows how much bottled water...of course all this is my decision to do, most would not have those kind of bills, but as you can see 3k usd just barely covers the bills...fortunately I am a Quad dipper like some and still have a good bit left over...My highest bills are rent, electricity, and school, with food following close...I have a few toys but thats all paid for and I am just talking about monthly bills...

The point is you need to evaluate what you are going to do, what you expect to do very carefully...before I met Maline and made the decision to put the kids through school etc..I usually carried 20k around in my pocket and could do what ever I wanted.  Now (and I am not complaining) if I have 500p in my pocket its a great day....It boils down to choices you make...I made mine and feel great about them but I am sure for some its not their cup of tea....

Its about what you want from here, I have a friend that lives in Angeles and he is perfectly happy being single and just playing the field. Good for him.  I have other friends here that go the family route and love it.  Good for them.  I figured out a long time ago you cant take a dime with you so you might as well make a difference if you can....

I generally love my life here...get pissed off sometimes like anybody...dont like bureaucrats, stuff here that takes five times longer with three times the paper work than in the states...etc...but none of that makes me want to go back to the states where Im considered too old to be of use anymore, would probably die in some nursing home by myself and generally be considered to be in the way of the up and coming generations...

Here I have family...... 
The only thing worse than wanting to do it is not doing it

 


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