Yesterday I wrote a sort of “roundup” type article where I list 20 plus websites that Google felt were the top information sources online regarding retiring in the Philippines. See:
I decided that just listing a URL didn’t do to much towards increasing my reader’s knowledge, so here’s an attempt at sorting through some of the list complete with my comments and a few recommendations. First up:
Here’s a little snippet that covers a lot of what this site is about. I really love the thrust of the idea that waiting around until your 65 is waiting _way_ too long to retire.
There are a lot of information-rich, unbiased articles here covering retirement in Thailand, the Philippines and other SEA countries … all of which are doable, at today’s rates, for as low as $500 USD per month … if you want to make it happen.
Too many people still believe that retirement is for the 65 and older crowd who have worked and saved their whole lives and still have trouble making ends meet. How much money do you really need to retire? What if you could retire now, for as little as $500 per month? Of course, that means cutting back on most luxuries and living a relatively simple life but it does seem possible in lower income countries like The Philippines, Cambodia, Thailand, and Indonesia.
If you could live on $500 per month ($6,000 per year) and you made 6% annually from safe investments, you would only need to have $100,000 saved to retire. ($100,000 X 6 % = $6,000 per year) Alternatively, if you could make $500 per month from passive income like rental income from your house, or some internet business, then you could effectively retire now.
My name is John Bardos. My wife and I gave up our business, house and possessions in Japan to search for more meaning and fulfillment in our lives. We’ve discovered that a satisfying life is about rich experiences, quality relationships and meaningful contribution, NOT consumption.
I don’t know John, but his words certainly ring true to me.
Something else John seems to cover well is a subject I have been remiss on … affordable international insurance for travelers or expats. The number one gap I always see in people’s retirement plans when they share them with me is the fact no one seems to want to address the impossible to avoid fact that we are all going to b\need help with medical expense maybe tomorrow or maybe 10 years down the pike, or whenever, but it has to be planned for no matter where you retire.
Even in the USA if you decide to just retire in place under the umbrella of Medicare, don’t kid yourself. You need supplemental insurance unless you want to die a total pauper and possibly bankrupt your children as well.
Thailand vs Philippine Retirement.
I’ve written about this issue here:
Unlike many of the folks you’ll glean information from on the South East Asian retirement issues, both my wife (dual citizen UD-Filipino) and both of us have actually lived in Thailand in the past … two years in my case. So we are not just reading about living there second hand from someone’s web site.
Personally I Love Thailand. I love the Philippines for retirement also, and the best thing I can say in the way of an answer to which country better suits me is that I live in the Philippines. I could just as easily live in Thailand or most any other country,but I voted with my feet and here I am in Marilao, Bulacan, the Philippines.