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

[Dave Hounddriver]

:th_thbestpost:

Just remember, retirement does not mean you cannot change your mind. Lots of guys go back to the west and take jobs to supplement their income because they retired at 55 and then chose not to stay in Philippines.

[OnMyWay]

Certainly there are cultural challenges to making a move to the Philippines, but with your income you can isolate yourself from many of them, if you like.

One reason I decided to do it at age 56 was because as a single guy in Kentucky, life was boring. I just didn't see myself rotting in the corporate world until age 65 or more, then dying, like so many do after retirement. Making a move like this is an adventure and you have to look at it that way. Right now, even though I could afford not to, I am living in a relatively poor area. Why? Mainly for the experience of it. It can make you appreciate other things and it helps me learn what things are truly valuable in life. I will move to a better area later with this experience under my belt.

[earthdome]

One thing to consider is that you may want to have time while you are still relatively healthy and robust to enjoy yourself in retirement.

I had two major health problems at the age of 54. It made me realize that I need to take steps now to enjoy life more.

For me... I would rather retire early, live modestly yet still have enough income to travel every few months and for emergencies.

If you enjoy what you do.. then by all means continue to work.

[Jake]

Based on my recent trip to Cebu, I have a different perspective of my retirement plans....I still have a lot to think about. This past trip was an eye opener for me.....With that said, I have not given up on the country.....

Certainly there are cultural challenges to making a move to the Philippines, but with your income you can isolate yourself from many of them, if you like.

One reason I decided to do it at age 56 was because as a single guy in Kentucky, life was boring. I just didn't see myself rotting in the corporate world until age 65 or more, then dying, like so many do after retirement. Making a move like this is an adventure and you have to look at it that way. Right now, even though I could afford not to, I am living in a relatively poor area. Why? Mainly for the experience of it. It can make you appreciate other things and it helps me learn what things are truly valuable in life. I will move to a better area later with this experience under my belt.

Another excellent thread for all of us to ponder. I'm with OnMyWay about retiring early (If you can).

Retirement in itself can be a very dramatic experience, regardless of age. However, at a relatively

younger age (45-55), you're still young enough to physically enjoy an adventure that most people

would never consider. And as OMW pointed out, you learn to appreciate where you came from and

have the sensibility to see the true values of life.

With your monthly pension Bows, may I suggest that you bank at least 1800 bucks into a savings

account, as you evaluate your situation -- adjust as necessary. For example, you could have about

18K at the end of the 10th month and still live like a king. But keep it low profile, OK?

Respectfully -- Jake

[Tukaram (Tim)]

One thing to consider is that you may want to have time while you are still relatively healthy and robust to enjoy yourself in retirement.

I had two major health problems at the age of 54. It made me realize that I need to take steps now to enjoy life more.

For me... I would rather retire early, live modestly yet still have enough income to travel every few months and for emergencies.

If you enjoy what you do.. then by all means continue to work.

Exactly my feelings. I'm hanging it up at 48 years old! With my health issues I figured I better retire while I am still fit enough to enjoy it. And if the Filipino lifestyle takes a few years off my life it is ok because the years I do have will be more enjoyable. I will be mostly poor (maybe Philippines middle class) but the Philippines province sounds better than the US rat race :tiphat:

[Jake]

One thing to consider is that you may want to have time while you are still relatively healthy and robust to enjoy yourself in retirement.

I had two major health problems at the age of 54. It made me realize that I need to take steps now to enjoy life more.

For me... I would rather retire early, live modestly yet still have enough income to travel every few months and for emergencies.

If you enjoy what you do.. then by all means continue to work.

Exactly my feelings. I'm hanging it up at 48 years old! With my health issues I figured I better retire while I am still fit enough to enjoy it. And if the Filipino lifestyle takes a few years off my life it is ok because the years I do have will be more enjoyable. I will be mostly poor (maybe Philippines middle class) but the Philippines province sounds better than the US rat race :tiphat:

but the Philippines province sounds better than the US rat race

From a fellow tin can sailor, I love your above quotation! Why work yourself to death anyway?

You may have a million bucks but how can you enjoy that.....lying on your death bed?

[tiger31]

life is like a roll of the dice some people live a long and happy retirement some don,t .my father retired at 55 and is 75 now so hes done ok so far ,his brother died at 55 with a heart attack and was looking forward to the same thing kids al grown up the house just paid off and boom he was gone so sad.so what i,m saying is if you can retire early grab with both hands because you never know how long you will be on the planet .many pensioners are struggling in the u.k just to live on their meagre goverment pensions because of the high energy prices ,ony today the goverment announced another 300,000 people are now living in fuel poverty meaning they can,t even afford to heat their homes this winter ,what a sad state of affairs that you can,t even keep warm in your own country after you retire .My own house costs more than 300 dollars a month for gas and electric plus all the other bills on top ,which is one of the reasons i decided to get the hell out of there to stressful just to pay the bills and having no life .so with my pension from navy and rental from my house i came here at 49 .I count myself so lucky to be able to come here and live a cheaper less stressful life with hardly any bills .but there is a sting in the tail my g f wants to go to the u.k .I am trying to put her off because i know what its like to live there ,she see,s it as an adventure lol Time will tell .

[OnMyWay]

I am trying to put her off because i know what its like to live there ,she see,s it as an adventure

Take her there in the dead of winter and have her walk across a bridge over the Thames on a windy afternoon! End of adventure!

(That was one of the coldest moments of my life, as I was far under dressed! :bash: )

[Thomas]

Based on my recent trip to Cebu, I have a different perspective of my retirement plans. Now if I was 100% confident that I could live there, then my measly pension and annuity I will receive at 56 should be adequate (around $4800/month),

measly $4800/month ??! In other topics we are talking about 800 - 1000 USD/month... :santa_smiley:

Just remember, retirement does not mean you cannot change your mind. Lots of guys go back to the west and take jobs to supplement their income because they retired at 55 and then chose not to stay in Philippines.

An other alternative is the one I aim at = Work (outsourced) or start business in the Philippines :santa_smiley:

I am trying to put her off because i know what its like to live there ,she see,s it as an adventure

Take her there in the dead of winter and have her walk across a bridge over the Thames on a windy afternoon! End of adventure!

(That was one of the coldest moments of my life, as I was far under dressed! :bash: )

:hystery:

And let her dress herself.

(I don't remember who told this true story about himself and his gf being in his cold home country. Something like this:

-Honey, I'm freezing.

-It's less cold if you put your wool cap covering your ears and close your jacket.

-Realy??

:hystery:

[bows00]

".measly $4800/month ??! In other topics we are talking about 800 - 1000 USD/month... "

Cebu is not cheap! I was given a quote for $430,000US ($17.6 million P) for a relatively small 2 bdrm Ayala condo. That is equivalent to Hawaii prices. And I also noticed how expensive the medicine in there - how can the local people afford it?