To Retire At 56? Or Rough It Out...

[Bundy]

Agreed. There is no substitute to decent planning and reasonable expectations; but, i still claim that if you CAN do it; then do it, get off the fence and do it. The timing will never be absolutely perfect...

Here's what happened to us. We were going to retire at the end of 2010 but decided to come back to Australia for one more year. We planned it all out and were prepared to get in and make as much as we could during that 12 months so we would then have "plenty" in reserve.When we got back here we were greeted with the sight of virtually the whole farm underwater! Now, we didn't lose any property or machinery in the floods but it did set us back substantially. It took almost 10 full months for us just to recover. Also during this time, property prices in Australia began to free fall and as part of our retirement strategy involved the sale of our house, well, we went backwards there too!We worked long and hard last year to get ourselves out of the mess we were in and though we've done alright so far this year, the net result of all this is that we are no better off now than we were at the end of 2010! I'm not complaining nor am i whinging because this is just what i do for a living and that's my choice, but my story does illustrate to others contemplating retiring to the Philippines that staying on and delaying your move isn't always the right thing to do.You just never know what tomorrow will bring and so i totally agree with what Bill is saying " If you can do it now, then just do it "As for us, our house is currently under contract and all being well we will be out by the end of the month. We already have ground prepared at the farm for planting which will take us through to about the end of June, at which time it is "Goodbye Australia and Hello Philippines" :mocking:

[sonjack2847]

I did it at 50 I don`t regret one moment. For me the UK has had it the place would take all my money just to live and then if I was ill they would take my house. I have two private pensions which aint worth ziltch. I have rented my house out and as time goes on I will receive more income from it. I have enough money to live here (just ) for six months> cannot do lots of toursit things but am 150% happier than if I was in the UK. I spent nearly a month in the Uk between 16 Jan and 14Feb and hated nearly every moment of it. I have and would again move here before god forbids my health went or the UK worked me to death.So my advice is get out while the going is good don`t wait for more money when you may not even be able to enjoy it.Kevin

Edited March 3, 2012 by sonjack2847

[Higg-num]

Billten, I roger that Sir. Loud & clear ! Working on it. : )May I beg to stray , just a moment, to make a point or perhaps solicit an opinion ? I would hope others may benefit from these thoughts of course.The thing is folks...at risk of sounding like a " Have it all "...I am very happy with were I am at. I love my situation ! I am truly blessed by God. I know there is nothing I can do to earn more of his blessings or love so any good that I do is truly God through Christ. ( I deserve no credit or praise in other words )Most of my days are as follows; I awoke this morning to the sound of every manner of creature that sings in the new day. My windows are opened so the rain and breeze could sing me to sleep the previous evening. It was cold in the house but very comfortable as I was buried under antique blankets of wool and cotton. Fragrance from the Wild flowers filled each room as God's wonderful Sun popped over the tree line.It's rays began to warm the earth and air. Everything smells so clean and a sense of well being ...one would think I have had this peace my entire existence. At a distance....I can hear the spring following down the mountain. The woods are starting to bare blooms and the fields are all the lightest lime green . Reminds me of the time I spent in Ireland.The classical notes that come from this machine( Computer ) reminds me of the brilliance of technology. I have a better life than what I could ever have hoped for........With one exception........Adventure ! Even for those whoare in happy circumstances at present, there may be something lacking....... I am happy alone and would suspect I would be just as happy with a partner for this life but that is not were my " Want " is. I crave ADVENTURE !Will the Philippines be as wonderful as were I am at present ? Will the situation and people be as good ? God willing, I trust I shall see for myself what the Lord has in store !

[i am bob]

You, Sir, are a lucky man! To be blessed with such a beautiful life now is something many of us crave! But only you and God will know if you can achieve what you seek in the Philippines... And only be giving it a try!

[sjp52]

Turning 50, I just completed a required federal retirement class this afternoon, and I am in contemplation...The class covered all the income scenarios based on when you retire, and I just couldn't get over how much our pension (in addition to Social Security) jumps at 62 years of age. Our pension multiplier becomes 1.1% of basic pay for every year in service (vice 1% of basic below 62 years of age). I currently have enough years in service to retire at 56 and start my second life in the philippines, and that is still my current plan. And this plan was solidly planted in my mind, especially while nursing my Post Philippine Depression (PPD) from my 2 week vacation in Olonganpo. And the decision is validated when I see friends (and celebrities) dying in their 50's and early 60's (i.e., Steve Jobs, Davy Jones - which just happened today for example). But the class got me thinking...At 56, I will be comfortable at retirement, but it won't compare to 62. So the question is one of time and money. Keep working and put off my dream till 62? Or give it a shot at 56 while I'm still young(er) to get a faster start at enjoying the PI life style...I also realize you only live once...so maybe I already answered my own question, but I just want to be sure I am not justifying my decision with desire only... any feedback from retired expats will be appreciated.

It depends on if you are still playing the game. You know the one where he who has the most toys wins. I found that I did not need as much money to live in the Philippines as I needed to live in Canada. There was 2 reasons for this, 1 Things are a little cheaper in the Philippines ( you get what you pay for ) and 2 it is a more laid back life style where the toys are not that important. You are not tempted by all those fancy must have items as most in the Philippines do not have.I retired at 52. A kind of forced retirement. My income was cut in half. At first I was desperate at trying to keep up with the life style I was accustomed to. But as time went by I adjusted to my new income and i,m comfortable with it. You don,t have the same income when you retire so you change your priorities.If you can afford aircon in the Philippines than go ahead and retire at 56, Because thats the only must have item you are going to need. That and a sweet little Filipina to heat you up when the aircon gets too cold. I hope you live to 100 but we all know its a crap shoot after 55.

[Tukaram (Tim)]

For me it is not a hard decision. I have lived with chronic pain since 1992. I have a headache... one headache for over 19 years! My head hurts 24/7 and when it flares up I go into various seizures. As i get older, it gets worse - I'm have 4 or 5 seizures a week lately. The VA says 50% is my max amount. So I can stay here and work until I die. Or I go to the PI and actually "live" until I die. A few years one or the other aren't important. I'm looking for some quality not quantity.If I accidentally live too long and inflation catches up with me then I cut my budget, move to a nip hut, whatever it takes. But I doubt that will be a problem for me.

[Art2ro]

Tuka Ram,May you live long & prosper! There's nothing wrong living in a nipa hut!They are much cooler!https://www.google.c...iw=1120&bih=635

Edited March 5, 2012 by Art2ro

[i am bob]

Your nipa hut reminds me of a nice little old Canadian log cabin...! Nice!!!

[Garpo]

I got tired of chasing the almighty dollar at the age of 57. I already had one retirement from local government so I packed up and came to the Philippines were I am very comfortable even though I live on much less than probably most foreigners do. I still have about 4 years to go before I draw my social security but I do not regret my decision at all. Would I like more money? Sure I would, would it make me more happy? No I do not believe that at all.

[sonjack2847]

Turning 50, I just completed a required federal retirement class this afternoon, and I am in contemplation...The class covered all the income scenarios based on when you retire, and I just couldn't get over how much our pension (in addition to Social Security) jumps at 62 years of age. Our pension multiplier becomes 1.1% of basic pay for every year in service (vice 1% of basic below 62 years of age). I currently have enough years in service to retire at 56 and start my second life in the philippines, and that is still my current plan. And this plan was solidly planted in my mind, especially while nursing my Post Philippine Depression (PPD) from my 2 week vacation in Olonganpo. And the decision is validated when I see friends (and celebrities) dying in their 50's and early 60's (i.e., Steve Jobs, Davy Jones - which just happened today for example). But the class got me thinking...At 56, I will be comfortable at retirement, but it won't compare to 62. So the question is one of time and money. Keep working and put off my dream till 62? Or give it a shot at 56 while I'm still young(er) to get a faster start at enjoying the PI life style...I also realize you only live once...so maybe I already answered my own question, but I just want to be sure I am not justifying my decision with desire only... any feedback from retired expats will be appreciated.

It depends on if you are still playing the game. You know the one where he who has the most toys wins. I found that I did not need as much money to live in the Philippines as I needed to live in Canada. There was 2 reasons for this, 1 Things are a little cheaper in the Philippines ( you get what you pay for ) and 2 it is a more laid back life style where the toys are not that important. You are not tempted by all those fancy must have items as most in the Philippines do not have.I retired at 52. A kind of forced retirement. My income was cut in half. At first I was desperate at trying to keep up with the life style I was accustomed to. But as time went by I adjusted to my new income and i,m comfortable with it. You don,t have the same income when you retire so you change your priorities.If you can afford aircon in the Philippines than go ahead and retire at 56, Because thats the only must have item you are going to need. That and a sweet little Filipina to heat you up when the aircon gets too cold. I hope you live to 100 but we all know its a crap shoot after 55.

Who needs aircon, I don`t have it ok I sweat a lot,don`t have many friends, people sit upwind of me but when I am out drinking the rounds are cheap heh there`s an upside to everything