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How rich we really are

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Lee2:
I wonder if some people realize just how rich they actually are, based on their pensions or SS alone. If a person was to try to match a pension or social security by buying an annuity at today's money, then they might be surprised to see how much money it would take to equal their pension or ss.

Depending on a persons age and the age of their spouse (if included), check it out. https://www.immediateannuities.com/
Just as an example, my wife being much younger than me, a joint annuity would have to be US 500k to equal under US $2000 a month and 250k would bring in around $1000 a month, so some of you are actually millionaires in pesos and sometimes many times over for some, just with your pensions and or social security... See how lucky many of us are and how we need to count our blessings, I know I am thankful all the time for what I get and have...How about you?

jjcabgou:

--- Quote from: Mr. Lee on March 16, 2016, 01:27:56 PM ---I wonder if some people realize just how rich they actually are, based on their pensions or SS alone. If a person was to try to match a pension or social security by buying an annuity at today's money, then they might be surprised to see how much money it would take to equal their pension or ss.

Depending on a persons age and the age of their spouse (if included), check it out. https://www.immediateannuities.com/
Just as an example, my wife being much younger than me, a joint annuity would have to be US 500k to equal under US $2000 a month and 250k would bring in around $1000 a month, so some of you are actually millionaires in pesos and sometimes many times over for some, just with your pensions and or social security... See how lucky many of us are and how we need to count our blessings, I know I am thankful all the time for what I get and have...How about you?

--- End quote ---

Compared to the "average" Filipino family I would say most foreigners here are above average, but I would not come close to saying we are millionaires even after converting to the PESO.  Most foreigners that come here are not wealthy and are able to get more for less here.  I am probably the poorest person in my sub division, but compared to the people I buy our Gulay from, I am probably viewed as wealthy.  Its all relative, but we are NOT millionaires  hhahahaha not even close.  There are MANY MANY MANY MANY Filipinos with LOTS of money.  J

bigrod:
FYI:  https://www.reddit.com/r/Philippines/comments/3o2jae/289_philippiness_average_monthly_income/

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

--- Quote from: bigrod on March 17, 2016, 01:49:19 PM ---FYI:  https://www.reddit.com/r/Philippines/comments/3o2jae/289_philippiness_average_monthly_income/

--- End quote ---
Only (1) Singapore and (2) Brunei does not equate to being a millionaire in their country, except for in the countries listed as 3 to 10 including the Philippines if one has a monthly income of $1,800 or more, but sad to say, with a monthly income of $289 to $397 represents those only living like a local just to survive. 
So yes, as a foreigner with a monthly income of $1,800 U.S. a month makes one a millionaire under Philippine standards, but those with less than $1,800 a month can make do just fine depending on their location, spending habits and lifestyle.   

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

--- Quote from: jjcabgou on March 17, 2016, 01:01:42 PM ---Compared to the "average" Filipino family I would say most foreigners here are above average, but I would not come close to saying we are millionaires even after converting to the PESO.  Most foreigners that come here are not wealthy and are able to get more for less here.  I am probably the poorest person in my sub division, but compared to the people I buy our Gulay from, I am probably viewed as wealthy.  Its all relative, but we are NOT millionaires  hhahahaha not even close.  There are MANY MANY MANY MANY Filipinos with LOTS of money.  J

--- End quote ---
JJ,
Don't feel bad. Where we live, we are the one of a few pooreigner millionaires in our subdivision.  ::) ??? :o ;)

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