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There are many Australians living here now. Some of you may wonder. Why? I am British born and migrated to Australia in 1971. I lived there for 31 years. I lost my first wife in 1999. I remarried to a Filipino and have two beautiful children (my first baby born in Australia. I decided that although Australia was a great country. How I was going to live after retirement?
I decided to move to the Philippines, which I did in 2002.
Experts estimate that to retire comfortably in Australia you would need at least $800,000 Australia. That is almost 29 million pesos!
If you have 200,000 Australia, you can live like a king here in the Philippines. A modest house will cost you 2 million pesos (Less than 56,000 Aus dollars) and if you are like me you will receive your pension at age 65 from UK government.
I went back to Australia in 2005. Boy 'o boy did I see a big change! Gasoline prices had increased by 50% in just 3 years. Yes, true in the Philippines. However, in the Philippines, no need to travel such long distances.
This year 1 in every 5 homebuyers will lose their house to the bank, as they cannot maintain the repayments. The economy is in a mess, not unlike the US now in 2008.
So all I can say is Philippines is a good place to live. Yes, it has problems the same as any other country but overall offers me a great lifestyle and a future for my family.