Really Live Like a King

[JJReyes]

23 hours ago, Old55 said:

Back to the question.... To be live like a King one needs a detailed clear plan, a budget supported by your plan and NO DEBT. I agree with JJ about elder care but have mixed emotions as we are very close to our children living here in the States. Having loving trusted family in Philippines keep that option open. Will cross that bridge when we come to it.

Advances in communication has change the way we keep in touch with family. At one time long distance calls were so expensive that for many, such a call meant a relative died. Now my wife telephones her mother twice a day from anywhere. We keep in touch with a granddaughter using Skype.

Retirement planning usually starts about five years before the event. Two years before is usually the time period to take action. The plans should be flexible because the situation keeps changing. For budgeting, we prefer to use three years increments rather than one year. Then my wife and I try to keep the first year under budget. This allows us more funds for non-anticipated expenses during the third year. 

We are staying at a national park for the 4th of July weekend. That means no WiFi and Cellular phone. I had to go to a McDonalds at a nearby town to check emails and post on this website.

 

[not so old china hand]

On 07/03/2016 at 5:47 PM, robert k said:

Living like a king has not always meant luxury. Stone castle, tallow lamps, no aircon, primitive plumbing.

Nubile serving wenches, nut-brown ale, what more can a man want...

[stevewool]

Instead of living like a king, what about living within your means,

There will always be some who needs more then others and some who don't need much at all, but everyone is happy with what they have, on some aren't we know,

So when I say to my wife you will have £400 per month to live ,food and bills and she turns round and says that's fine, well who am I going to believe,

Now I know this will not include maintance and holidays , but we will have food on the table and a safe place to call home,

Now here in England our bills comes to a little more then that but that includes, gas,electric,rates,tv,phones,food,

Yes I know we are here and it's always best to have boots on the ground too,and I do know there is more in the purse for the just in case too, i would rather give less and then top it up instead of giving more and spending the whole lot,

Just another thought if many before we get there,

[robert k]

1 hour ago, stevewool said:

Instead of living like a king, what about living within your means,

There will always be some who needs more then others and some who don't need much at all, but everyone is happy with what they have, on some aren't we know,

So when I say to my wife you will have £400 per month to live ,food and bills and she turns round and says that's fine, well who am I going to believe,

Now I know this will not include maintance and holidays , but we will have food on the table and a safe place to call home,

Now here in England our bills comes to a little more then that but that includes, gas,electric,rates,tv,phones,food,

Yes I know we are here and it's always best to have boots on the ground too,and I do know there is more in the purse for the just in case too, i would rather give less and then top it up instead of giving more and spending the whole lot,

Just another thought if many before we get there,

Right!

I have said it before that there is no such thing as an amount of money that could not be spent if you put your mind to it.

I just wish governments would quit trying to prove me wrong...and failing.

Better to not spend overmuch on things that make you momentarily happy, so it will be there for what you must spend on, durable goods, emergencies and life expenses. When you have the big three covered, then you can worry about the odd vacation and trinkets.

Some people believe the complete opposite. I know people who borrow money so they can take a better vacation. Anyone else know someone like that?

[Jack Peterson]

 Well I have said this Before but it still rings right to me, " Make your Life fit your Budget, not try and get the life you want on a Budget that is not there.

 

Jack 

Morning All 

[PaulB]

I heard a quote on Philippines TV recently which sums up some people's idea of what they need to afford living in the Philippines.

 

"People buy things they do not need and can't afford to impress people they do not like"

 

Sounds like a sound piece of advise on what not to do.

 

Paul

[bows00]

There is the term "keeping up with the Jones" that did affect my spending habits when I was in my early 20's, especially with the car I drive.  But there is level of immaturity and insecurity that goes with it.  I believe we eventually grow out of it.  You eventually realize that nobody cares what you drive, where you live, or what you look like.  They're too busy looking at themselves. 

So regardless of what others think, living like a king, to me, is when (1) you love your established lifestyle and (2) you have money in surplus to support it. 

[Jake]

I believe the phrase live like a king was coined after WWII when the first group of Filipinos were just retiring from the US Navy.  With their healthy dollar account (military pension), many came back which kicked started the middle income revolution (1970's).  OFW's was also a significant factor is that regard.

Here's a reality check that I posted awhile ago: an active single guy on a 1,000 dollar monthly budget is usually enough to get by.  But when a GF(s) or new wife(s) moves in, throw that budget out the window -- end of throne, game over.

Living in the Philippines with a monthly 5K dollar budget is considered a multimillionaire.  It's definitely beyond my lifestyle however and will bank at least 75% to a savings account.  That would be my only luxury being able to save again.  

Respectfully Jake

 

[Sander Martin]

13 hours ago, PaulB said:

I heard a quote on Philippines TV recently which sums up some people's idea of what they need to afford living in the Philippines.

 

"People buy things they do not need and can't afford to impress people they do not like"

 

Sounds like a sound piece of advise on what not to do.

 

Paul

That's exactly what happens here. To meny one day milioneirs! I have never seen so meny pawn shops in my life! It must be good business if there are so meny open.

[Jack Peterson]

55 minutes ago, Sander Martin said:

"People buy things they do not need and can't afford to impress people they do not like"

OHHHHH! YES so very True!

 and with that I will say Hi, good day All