Realistically Speaking And Choices....

[Ruben Scouse]

I retire in 12 months at 50 (OK, it's really 16 months but I'm wishing my life away). I want to relocate to either Phils or Thailand and I'm researching available options.

 

Projected income.... I will have a private pension of approximately $38,000 US per year. What type of lifestyle could that give me..?

 

I am a westerner and like my beer (not to the point where I fall over every night but I like a few beers) and I fully intent not to stay celibate for the rest of my life so meeting ladies would be nice.

 

Accomodation plans... I do not own a property in the UK (divorce took care of that). I do not know if it is better to buy a property in the UK to rent out (I could buy an apartment that would generate a further $800 US a month) or would you suggest buying a property in Phils..?

 

Kenny

Edited November 20, 2013 by MikeB
Removed personal financial info

[Lou49]

38,000 usd will give you a good comfortable lifestyle in the PI. As a foreigner you can not own land here but you can own a condo. Personally, I would never buy in the PI so I rent. And I would never drive here so I always take taxis.

[robert k]

Firstly, I could not recommend buying property in the RP, a little online search will tell you why. You can own a condo but only in a building that is at least 60% Filipino owned but not land without some dodgy legal wrangling that I'm not convinced will really work. I'm going to stay a renter.

 

It sounds like you are pretty well financially prepared although there is no amount of money that can not be spent if you put your mind to it. I think you could comfortably live in either country once you find the right place. I have not been to Thailand but I hear it is not the bargain it once was, which happens when people widely tout a place as a great place to retire, especially when it's true. I had a friend from Thailand and she told me the cost of living was the same as in Ft. Worth Texas in the US, not that cheap. Some people tout the RP as that retirement place and it's a great place but I think the standard of quality is lower due to poverty of the RP. Not that either place can not be liveable and comfortable. In general I did not feel entirely welcome in the RP, more like you are tolerated for your money, although I met many fine and hospitable people. I heard the catcall of "Hey Joe" about 1 day in ten and I spent quite a bit of time on a farm where there was no opportunity to hear it. I don't care, I'll win over the people I need and the rest can think what they want. :)

 

I chose the RP because it can be lower cost and while my income is slowly growing at the moment, I like being someplace where I can stretch it pretty far if I need to. I have not found that perfect spot yet but looking is fun

 

I think having a girlfriend in Thailand would be less of a commitment than in the RP, generally speaking.

 

If I had the money I would tour both before I decided which to take a closer look at. :)

 

Welcome to the forum.

Edited November 20, 2013 by robert k

[Ruben Scouse]

Many thanks for the replies.

 

I intend to visit both Thailand and RP. I didn't realise the legal issues regarding land ownership were the same as in Thailand. but, to be honest, I'll probably buy a place in the UK to rent out for extra income then I can travel wherever I like until I find somewhere to settle down. 

 

I have been to Thailand twice and love the country and the people but I want to travel around SE Asia before I put down any roots anywhere and RP is a good option.

 

I want to meet a partner but all the gold digging comments (on this forum and Thai forums) makes me a bit weary but I guess you have to be careful no matter where you regarding relationships.

[Tukaram (Tim)]

That will be enough money for either country (for most people anyway).  But for me the Thai visa requirements were to cumbersome.  It is easy in the PI's.

[robert k]

I don't see the Thai women as gold diggers in the whole, I think they are generally less emotional and marriage is more of a business merger to them. In their position I would consider that it's as easy to be happy with a well to do spouse than a poor one and do my searching accordingly. :)

[Old55]

Ruben you seem to have a great handle on your future plans. Having an extra income from UK and the investment there if ever you return makes good sense.

How cool.... What a great adventure you will start in a year (don't count). Two thousand USD a month would provide a nice income living in Philippines. Everyone has there their own needs but 2K would be a good for most guys.

 

Thai women are very attractive and Thai food is amazing. You say you love Thailand so that is important.

Philippines and Filipinos are more Western in some ways. English is used fairly well in larger city's and many younger Filipinas speak English more or less.

 

A fifty year old Englishman would be of high interest to many nice single Filipinas. If you want an awesome partner or wife I know of no better place than Philippines. IMO Thai women are more attractive but the right Filipina will truely love you and care for you. Its not hard to find an honest educated intelligent loving Filipina from a good family.

You could have a good life in Philippines.

 

Budget 24K a year for Philippines. Bank the rest for long term savings, emergency's and travel.

.

[Mike S]

there is no amount of money that can not be spent if you put your mind to it.

 

And that gentlemen is the key to living anywhere .... as I have said over and over .... if you have p20,000 per month you will spend it and if you have p200,000 you will spend it .... now are you happier with p200,000 .... some people are and some people aren't .... those that have a 2 bedroom house want a 3 bedroom house ..... those with a multi-cab want a SUV .... and so it goes .... it all boils down to DO YOU REALLY NEED IT or do you just WANT it .... big difference .... some people's wants far out weigh their needs .... are you content with what you have or do you have to strive to get more .... that will determine how you live and how much it will take for you to live on .... no different here or anywhere .... JMHO

:cheersty:

[JMEL]

Check out Thai.com forums. Similar to this forum, but far more organized, you can find a wealth of information. I lean toward Thailand for retirees for a lot of reasons like ownership, medicine costs, customer service, entertainment, quality food, Internet, cost and quality ofhousing, ease of travel, etc., but for some people Phils is far better for them. As for Phils, Bacolod is a nice place.

On your income having a few beers every night and living in a nice, but not fully Westernized place (IE some else does your laundry and you eat out mostly since few appliances but otherwise very nice digs,) you can live it up in serious style. I kept 2 homes in Thailand, one in BKK and one on the beach in Ban Pae,ate out, played, had a gf, traveled a lot, etc. and spent less than $1k/mo

(Note to OP that ur welcome to edit out: Could someone approve my membership here already? It's hard to contribute or follow posts especially to find replies to the posts I made. I am having to use browser on Android since Tapatalk will not work with this site. For some reason there are far less features to follow threads and easily search here compared to Thaiforums and others that all use the same system.)

[johnb]

Hi Ruben, I would agree with others on this thread not to purchase a property here in the Philippines, but would also add be careful about purchasing a property in the UK as a rental, as i understand things the UK Govt are going to tax expats who have UK property. i have been away from the UK since 1996, I have a house in North wales [ meliden near prestatyn] , when i return to the UK after Xmas I'm going to investigate selling the UK Property.

 

http://www.telegraph.co.uk/expat/expatnews/10458673/Thousands-of-Britons-caught-up-in-tax-raid-on-wealthy-foreigners.html