Retirement Budget Adjustments

[JJReyes]

Rather than focusing on $1,000 a month in the Philippines which is not doable for most of us, a more relevant topic is how you reallocate your retirement budget. You can live a single, lonely life in your home country with $1,000, $2,000, $3,000 or venture to the Philippines to spend the money with a wife and her huge, needy family. I would be interested in learning what changes or adjustments take place. 

[stevewool]

This is going to be intresting,

[jon1]

Nice topic JJ. I would factor 5% every year. I justify this by watching the food prices rise every year come the holidays (all of the OFW money flowing in) and then only do about a half of a contraction. I am being very vague as I haven't been diligent in my notes. 

 

An example; big tiger prawns going for 350p/Kilo during the year, jump to 700p/Kilo during the holidays, then retracting to something like 500p/Kilo at the end of january. I have seen these type of jumps every year since I have been here. Some items are higher than others (prawns for example).

[Jake]

Rather than focusing on $1,000 a month in the Philippines which is not doable for most of us, a more relevant topic is how you reallocate your retirement budget. You can live a single, lonely life in your home country with $1,000, $2,000, $3,000 or venture to the Philippines to spend the money with a wife and her huge, needy family. I would be interested in learning what changes or adjustments take place. 

Hello JJR,

 

ADJUSTMENTS -- a change in lifestyle, a change in attitude, a change in your habits?

 

While we are discussing minimum monthly budget in another post, perhaps this one needs a lot of soul searching. 

Are we willing to make some adjustments dealing with new relationships and basically living out of your previous

box (your lifestyle).  Many inner issues are less tangible -- you can't touch it, it can't be fixed with a screwdriver or

a hammer or depositing more money to cover that insufficient fund notice from BPI.  No, these types of adjustments

require much thought and time. 

 

However, there are some expats just say puck it -- I'm going anyway without preparation and arrive with hidden

baggage.  Or there are groups of you that do their homework and deep soul searching and made the transition

more enjoyable or less stressful.  And then there is one special group that are natural explorers, willing to trail

blaze a new path and thinking on his feet.  I don't know if I could do that Dave -- hound doggin' at every island

and yet do it with grace and finesse. 

 

Ever since Jake the Snake and Eve was banned from the Garden, the study of human behavior (good-bad traits)

is still a mystery for the most part.  The biggest mystery of all is that beautiful oriental pearl that captured your

heart and sometimes eats it for breakfast.  I am captivated by my wife Judy -- she is Scorpio and her sting gives

me both pain and pleasure.....he, he.   

 

Very nice post JJR, very nice post indeed........respectfully -- Jake

[Old55]

"Five percent a year" thanks Jon.

Many guys living with a Filipina may find themselves with another little family member. I am curious what those costs would be how it would affect a budget.

Edited July 3, 2014 by Old55

[pokermike]

My adjustments: Left Column Current Right Expected in PI

Mortgage&Taxes $1700 3 bedroom house w/pool Scottsdale AZ Rent $1500                     condo near beach Including ACCOS

AC/Elect $ 300                                                                                                                      AC/Elect $ 300

Insurance Health $ 500                                                                                                          Insurance Health $ 400
                                                                                                                                               Auto and Home keep US and add PI

$2,500                                                                                                                                                                 $2,200

Much more to come Page 1 , i know this is chart for someone looking upscale but maybe help someone. Poker Mike


Page 2

Cell Phone $ 175                                                                                        Cell Phone $100
Cable TV/PC $ 125                                                                                     Cable/TV $100
Retain Cable in US                                                                                      watch on sling box drop PC
Travel $1000                                                                                                Travel $500

Entertainment $ 500                                                                                   Entertainment $500
Restaurants/Bar
$1800                                                                                                               $1200

Savings piling up now, up to $900 more to come


Page 3

Maid 1 time every two weeks                                                                           $160 Maid one month full time $ 80
Dry cleaning $ 80                                                                                             Laundry $ 30
Gas for auto $140                                                                                           Trasportation $140
City Trash and water service $150                                                                  Trash and water $ 70
Massages $ 0                                                                                                   Massages $ 50
Groceries $600                                                                                                Groceries $300
Gardner $150                                                                                                   Gardner $ 0
Termite Protection $ 20                                                                                    Termite Protection $ 0

$1,300                                                                                                                       $ 670

 

 

 

Admin Note

just a note from Jollygoodfellow, I merged these 3 post into one but it lost the formatting by doing so, hope I got it to where it was. sorry  :unsure: Should have blamed Jake  :)

Edited July 4, 2014 by Jollygoodfellow
merged posts

[pokermike]

Ok , going to finish here rushed this off so i am sure i missed a few items . these numbers show my onthly buget in the states at $5,600 , which i know is a little bit under. It shows PI at $4,070 which i think will be very close.

 

The thing that is important to me is that here i cant find a decent beach to live on, with out paying big money. plus the women i date will not look as agood as my choice of women their, at 67 going on 40 i dont have much of a choice here. So that is the reason for my move not really the money. I think there are many ex pats like me and would like to give them some numbers to look at.

 

With this budget, i will still be able to still have some money to play the market a little and not touch my nest egg. I am coming soon and when i do anyone who is on this site welcome to huge ass party i am going to host. i really apreciate all the information i have received from everyone and then confirmed thru my many visits.  Thank You All      

I would rather live one day as a lion than a thousand as a lamb   growl        Later Poker Mike

[Old55]

 

The thing that is important to me is that here i cant find a decent beach to live on, with out paying big money. plus the women i date will not look as agood as my choice of women their, at 67 going on 40 i dont have much of a choice here. So that is the reason for my move not really the money. I think there are many ex pats like me and would like to give them some numbers to look

I would rather live one day as a lion than a thousand as a lamb   growl        Later Poker Mike

You got that right Poker Mike!!!

Awesome budget budget breakdown Mike but the condo monthly rate high tto me. I'm thinking you may be receiving the Rich Kano discount.

[pokermike]

I think its more the locations i am picking and the upper end units. The prices have been raising dramatically. Still hoping to find a unit on the beach with a view, close to shoping , maybe one hour away.

 

Might settle for Subic instead of Mactan will save me a little. Its still going to be $1,000 no matter what, for what i will accept.

 

I am not a snob , i just have worked all my life and planned well and now i want to go out with a bang.

 

Thanks for the comments about the budget ,  i swear i think i am pretty close , with a little wiggle room.   Poker Mike

[robert k]

Pokermike, the auto and home insurance for the US appear to be about half of your monthly expenditures you project for while you are living in the PI. without those expenses and substituting a nice $300 apartment or house in the burbs within 5 minutes ride of the beach and we are getting perilously close to that $1,000 a month. I'm not arguing your choices, you know what is right for you, it's your life and you are entitled to live it how you can afford. :thumbsup:

 

I am glad though that I'm not going to try to keep a foot in both countries as it's too much like the rat race I want to get away from.

 

Of course I also expect that anyone who does make the move is going to bleed money until they have their new home fitted out in the style that gives them comfort. :)