Mike In Canada Posted July 3, 2015 Posted July 3, 2015 What amount of money would one require to live like a king in the province It depends on how 'kingly' you want to live. I know 3 kings in Biliran province. The first king has a 1,000 meter lot with a nice house and a great family and some house helpers, 2 car garage - filled with 2 cars and drinks his fill of Pilsen whenever the mood strikes him. I suspect his budget is around US$2,500 a month and he lives like the king of his castle. To make this long story short, the second 'king' has a budget of about 3 times that amount (lets say US$7,500 a month), and operates a beautiful resort on the ocean. He is the king of the resort and you could say the king of his wife's family's barangay. The third king has income that must be close to US$25,000 a month. He lives like the king of the barangay. There are likely a few filipinos living in his city that are richer, but they do not flaunt it like he does. Somehow he has escaped all the problems of violent crime due to flaunting wealth and definitely lives like a king. So to retire well in the Provincial areas of the Philippines with no rent or mortgage you could live very comfortably with $1,000,0000 for say 30 years not including any crazy medical emergencies for 2 people? That is sort of what I am trying to find out, I do not want to sell my property in Canada as I will return yearly during summer months, and do want to live a very comfortable life or even better than comfortable. 1 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted July 3, 2015 Posted July 3, 2015 you could live very comfortably with $1,000,0000 for say 30 years not including any crazy medical emergencies for 2 people? Ooooooh that depends on sooooooo many things. Exchange rate has been a killer lately. Investing may lose some of that if things go south on ya..No one can say what inflation will do in Philippines Theoretically its a great plan but we have no clue how good you are with money management or any of the other factors. If it was me I'd give it a try. I'd invest the money as best I could, live on half of what the it earns in after tax income and put the other half back into the investment to take care of inflation. So if you can get 3% net after taxes that would be 30,000 a year so you could live ok on half of that and if your investments do well then you could give yourself increases. I would not be nearly so conservative if you were only talking about supplementing a retirement pension but I got burnt in 2008 so for me CDN $1,000,000 would not have lasted me 30 years. Others did much better. But you could surely live on that. Just not sure if you would live like a king. 1 Link to comment Share on other sites More sharing options...
stevewool Posted July 3, 2015 Author Posted July 3, 2015 What ever amount you may have try to live to that amount, I am aiming to live like a king in my own way and my own house doing what i want when i want with the budget i have, maybe not as rich as some but not as poor as others, 4 Link to comment Share on other sites More sharing options...
earthdome Posted July 4, 2015 Posted July 4, 2015 Entertainment might be a golf membership and fishing. There aren't many golf courses in the provinces. I lived in Baguio, a city of 400,000 people and there were only 2 18 hole golf courses. One was an expensive private country club. 1 Link to comment Share on other sites More sharing options...
Gerald Glatt Posted July 4, 2015 Posted July 4, 2015 I am aiming to live like a king More of a Knight for me, Small keep with a moat a few Crocs in it some attack dogs trained to kill roosters, nothing fancy or to pretentious 5 Link to comment Share on other sites More sharing options...
Jake Posted July 4, 2015 Posted July 4, 2015 I am aiming to live like a king More of a Knight for me, Small keep with a moat a few Crocs in it some attack dogs trained to kill roosters, nothing fancy or to pretentious As always -- love your wicked humor! 2 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted July 5, 2015 Posted July 5, 2015 I am aiming to live like a king More of a Knight for me, Small keep with a moat a few Crocs in it some attack dogs trained to kill roosters, nothing fancy or to pretentious One of my old favorites: Once a king, always a king. But once a knight is enough. 2 Link to comment Share on other sites More sharing options...
Gerald Glatt Posted July 5, 2015 Posted July 5, 2015 But once a knight is enough. Followed by one in the morning Link to comment Share on other sites More sharing options...
Mike In Canada Posted July 6, 2015 Posted July 6, 2015 Entertainment might be a golf membership and fishing. There aren't many golf courses in the provinces. I lived in Baguio, a city of 400,000 people and there were only 2 18 hole golf courses. One was an expensive private country club. There is Thunderbird Resort San Fernando City, La Union that has a golf course as well. Only I hour south from me. Link to comment Share on other sites More sharing options...
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