Inspector Posted February 2, 2011 Posted February 2, 2011 Title says it all...if you were getting around 150 grand tax free and were living here on a pension, what would you do to make more money, or make it grow for the future? Say this person already has a good 401 K he can use in a little over a decade, his parents were left over a million from a rich uncle years ago, is in his late 40's and makes a good enough pension to live now in a middle class gated community in the Philippines, what would be some advice to do with this money? Say this person does not want to open a business, nor flash it around with new cars ect (he's low key)...has parents he can trust totally, and already owns a house that he rents in the USA.Would buying another house to rent be wise for him?Remember, this person is not a gambler (his words), and knows to get his money in the middle with the best hand. He also has a large credit card debt from something unavoidable. I have been researching for this close friend, but it's all over.Any experience with money from others here?Condo in the Philippines...renting? Link to comment Share on other sites More sharing options...
Inspector Posted February 2, 2011 Author Posted February 2, 2011 Oh, to add...he told me he wants to keep it somewhat hidden, although knows he will have to report any earnings to the IRS...hi Rusty! Hey, maybe Rusty knows a way. :) Link to comment Share on other sites More sharing options...
joeatmanila Posted February 2, 2011 Posted February 2, 2011 Oh, to add...he told me he wants to keep it somewhat hidden, although knows he will have to report any earnings to the IRS...hi Rusty! Hey, maybe Rusty knows a way. :)Tell hiom to buy some commercial lots, build shops and rent them out. The cheaper the construction the better it is since a filipino will never pay for business in a good constructed shop. All of them crave for businesses though, some make a living most loose the investment. It does not matter to him since they all pay the rent. Link to comment Share on other sites More sharing options...
Jim Sibbick Posted February 2, 2011 Posted February 2, 2011 I know what I would do with it.Have what is essentially my home with accommodation for boarders attached plus a sari sari store, carenderia and internet cafe. Maybe also have some better rooms for foreigners and offer some tourist services. Regards; Jim Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted February 2, 2011 Forum Support Posted February 2, 2011 1) Pay off any debts.2) Place some in a secure western investment fund.3) Donate some in worthwhile Philippine projects. Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted February 2, 2011 Posted February 2, 2011 Personally I would buy farm land and lease it to a farmer for a percentage. Never depreciates, fair income, good tax advantages. I find rental houses to be a pain in the neck unless you have enough of them to make a business out of it. Link to comment Share on other sites More sharing options...
Inspector Posted February 2, 2011 Author Posted February 2, 2011 Good advice all...remember, he is NOT married though, so buying anything "here" could be a slippery mud slide...unless it is a condo. Link to comment Share on other sites More sharing options...
Art2ro Posted February 2, 2011 Posted February 2, 2011 If one is financially stable living in the Philippines with one's pension, already has rental property in the U.S., being rented out with positive cash flow and that $150,000 is just free money to do what ever one likes, well I would splurge a little on myself if one is single and do things of pleasure whatever it is one enjoys doing! What's money for? One can't take it to their grave when one dies! It's just a shame when one dies and leaves all that money behind, unless it is donated to someone else deserving, giving them a little boost financially! Link to comment Share on other sites More sharing options...
Mr Lee Posted February 2, 2011 Posted February 2, 2011 (edited) Title says it all...if you were getting around 150 grand tax free and were living here on a pension, what would you do to make more money, or make it grow for the future? Say this person already has a good 401 K he can use in a little over a decade, his parents were left over a million from a rich uncle years ago, is in his late 40's and makes a good enough pension to live now in a middle class gated community in the Philippines, what would be some advice to do with this money? Say this person does not want to open a business, nor flash it around with new cars ect (he's low key)...has parents he can trust totally, and already owns a house that he rents in the USA.Would buying another house to rent be wise for him?Remember, this person is not a gambler (his words), and knows to get his money in the middle with the best hand. He also has a large credit card debt from something unavoidable. I have been researching for this close friend, but it's all over.Any experience with money from others here?Condo in the Philippines...renting? First IMO pay off all debt. Then in todays world it is my opinion that it is not that easy to play it safe. While there are no guarantees in life, if a person plans on living in the PHL forever, then I would want some income in pisos, so I would buy some inexpensive condos that can be bought below the current retail market and rent them out, since they would not be allowed to buy the land a house or boarding house was to sit on. Otherwise a boarding type house, or row of houses in a good neighborhood might also be a good idea and they could share cable and an internet connection and then rent those out. A person with cash can be king here and deals are there to be had, if one looks hard enough. Other than that possibly put the money into some safe currency (if there is such a thing today) until the market turns around and interest rates go up. Edited February 2, 2011 by Mr. Lee add content Link to comment Share on other sites More sharing options...
love2winalot Posted February 2, 2011 Posted February 2, 2011 NO, NO ,NO. Inspector, all the replys are just peoples opinion, You need FACTS.Have him send the $150,000 to ME. And in return i will make a detailed, "FACTUAL" Report on what i did with it.......................What?.....................................................really,.......................What? Link to comment Share on other sites More sharing options...
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