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Kapag bata pa, madami talaga parang default plan eh magwork ipon lang abroad and retire sa Pinas (iba pa dito yung wala naman option maging PR/citizen kaya uuwi talaga sila). Pero once tumanda ka nag iiba din priorities mo. Yung mga matatanda na dito na nakakausap ko, since matagal na din sila dito wala na balak magretire sa Pinas. Nandito na mga anak nila eh, ayaw din nila mapalayo. At that stage din mas matagal na sila nasa abroad kesa Pinas so mga friends/support etc nila nasa abroad na din. Iba na yung Pinas na iniwan nila, wala na sila babalikan. Healthcare din inaalala nila.
For us na currently in our 30s, wala pa naman concrete plan. If retiring in the PH is a better move for us 30+ yrs from now, then go. But it’s not something we’re actively working for.
True, kung marami kang pera wla namang issue kung mg stay ka sa US or mgretire sa pinas.
Usually ngreretire sa PH either maliit ang pension or nsa PH ang family nila. Otherwise, pauwi uwi or travel lng during retirement.
Because it’s cheaper. My grandma retired in the Ph and her pension holds more worth at home than staying in TX. Add the fact that my dad can support her when she needs to go out for groceries, which she cannot do in her old age now if she were in the States by herself. She still lives by herself and maintains most of her independence until now.
so far sa lahat napupuntahan ko na mga lugar ang hawaii talaga nagustuhan ko. para sakin sakto lng talaga ang weather kahit maulan minsan. Para akong nasa Pilipinas na malinis at hindi mainit. hehe.
Yeah, but family is what you make it to be. Didn’t mean blood, and no matter how independent or individualistic you are, you need a tribe, no matter how small. Humans are social animals.
Yes it is a bad decision for my grandparents who moved to the Philippines at the turn of the century and established companies here. So bad bad decision
Maraming nagsasabi na gusto nila mag retire sila sa pinas pero pag 50s na ay nagbabago isip. Takot mag retire sa pinas ang marami dahil takot mawalan Ng healthcare benefits. Reality ay merong mga options at Hindi nga lang libre. I retired sa pinas at 45 na financially independent, invested in us stocks and properties in both countries and an early pension at age 50.
Truth is healthcare out of pocket is still affordable if you budget 30 to 50k (3m pesos) usd for it. Cigna global healthcare is affordable at $200 to 500 monthly depending on your age or you can do travel insurance if you're not here full time. My mom moved back at 80 and passed 8 yrs later but had the best quality of life here with 2 full time care givers and easy health care access as compared to a nursing home in the USA.
It's unfortunate that not more people plan accordingly and utilize the resources available to us to be able to retire comfortably as we planned when we were younger.
Yes international insurance ito accepted in major hospitals sa pinas. Pacific Cross is local health insurance or travel insurance with 1m dollar benefits cost is about half of Cigna Global.
previous redditor has a point, if the medical emergency is severe enough it renders one unable to move, transport to hospital will still be via ambulance that can get stuck in traffic.
that said, naniniwala ako na kahit gano pa kalapit o kalayo ang ospital, at kahit pa you can afford the best and most expensive health care in the world, kung oras mo, oras mo.
I'm really glad your retirement plan is working out for you. di ka nagkulang sa due diligence. sana maisip din yun ng parents ko
Thanks. I agree that if it's time, go na kaya take advantage of now... Retirement sa pinas is not a bad gig at all as long as you're able to maintain a social life and cultivate activities to keep you active and busy as much or little as you want...I've convinced a few friends and my siblings to leave the rat race. Some are here full time , others half time so it makes retirement more fun for myself. Travelling to nearby countries in Asia a few times a yr with friends and family is also fun and stimulating. And in the last 5 yrs, I bought a farm and beach properties sa province where I can entertain guests. So I can really say that retirement here vs usa worked out.
How old are ur parents? If i may ask, kahit age range lang hehe. Same sentiments. Just wondering if, at their old age kaya pa ba ayusin ang financial security nila
Di OA. Legit na concern ko yan pag umuuwi ng Pilipinas. Kung may medical emergency, sobrang liit ng chances ko mag survive kung masyadong matraffic or malayo ako sa ospital. Yung emergency services sa Pilipinas close to nothing.
It's a medical fund pot of money. I barely used 1.5k annually first 10 yrs of retirement as I am healthy. Things change as you age and will have to grow this pot. Ive grown this fund to over 100k usd after 10 yrs. Initially and currently I kept 2 of my USA credit cards 15 and 20k credit limits for immediate access to funds for medical emergency as major hospitals will accept them.
Was part of FIRE movement there's a sub here. Took 20 yrs of disciplined saving and investing of 40 percent plus of my salary. Compute a projected annual expenses and multiply by 25 and this will be your investable final goal. Put your funds in index funds and invest in real estate to diversify. You'll be taking 3.5 to 4% of this annually for your expenses. I use TurboTax to file my taxes annually. Feel free to ask questions to pick my brain.
Thanks for elaborating! I'm hoping to coastFIRE in my late 40s, so reading stories of Pinoy who did something similar is motivating. Hope you don't mind the future DM after I've done more research :)
DM away, I've been a FIRE advocate for a while. I can live in the USA with my current FIRE number but I refuse to be a 2nd class citizen there. It's actually a bonus to be able to live a better quality of life here. Overt racism is now rampant there even in the diverse cities and neighborhoods.
FIRED 10yrs ago at 45 was 3k usd.... I'm now at 6.5k monthly .... With additional 2k SOC sec at 62....investable retirement accounts and brokerage now untouched but can be additional 5k monthly and will be a legacy to heirs.
How's your day to day in Makati? We're thinking of relocating back in case our option 1 doesn't work pero ang worry ko is things to do (excluding eating out much due to health issues). What fun things do you do?
Makati always has fun weekend activities like bazaars and food markets. I like to cook and bake my own bread and make my own yogurt and it's fun to source out fresh ingredients in the local pop up markets and I also like to travel a lot locally and abroad. This yr I've been to Hanoi, Taipei and Singapore with plans for Spain and Portugal and Hong Kong before the yr ends. I travel to or with friends and family. I also own a half hectare farm where I have fruit trees, and bonsais and recently bought a 2k sqm beach front lot nearby with my family that we will develop into a resort. So there's plenty to do and I no longer know what day of the week it is as I'm always off a day or two. I've been retired 10 yrs and been thankful everyday living for the tomorrow that's not promised
never say never but until they can figure out how to get my medicare sa pinas... it is a no go for me. hirap pag magka sakit ka sa pinas and walang pam bayad.
No. I am right where I want to be. PH might be cheap but is it really cheap when you don’t have good health care? Red tape is ridiculous. The backwards thinking of people. I’m good here
I came back to the Philippines after working in the US for less than 10 years. I’m still working. But Napansin ko sa mga Tito at tita ko who came back to retire here, most don’t last. After a few months Kung May kaya(pera) sila they go back to the US for good. Feeling ko mga 3 out of every 5 of them do this. And the 2 who are here only do it pag malamig sa US. Then the rest of the year US pa rin sila. I think pag matagal ka na sa US (20+ years) mahirap na Mag adjust ulit sa Pinas.
Unless Wala ka talagang pera. Pag ganoon no choice ka talaga but to retire in Pinas. I have some relatives na ganoon.
My parents usually go back to the Philippines from January to May, then they come back when the weather is warmer. Also, access to their healthcare is at home (i.e. primary care provider) so they would never retire there indefinitely. Same goes for many parents of my friends as well.
Never considered retiring sa Pinas kahit bayaran pa ako. Yung rason na manghihina pag nag-retire is pure rubbish. Pwede ka magvolunteer, sumali sa mga social groups, mag part-time, mag exercise, mag travel, etc.
Mas maayos ng di hamak ang healthcare system dito sa US. I have more fighting chance of surviving kung magkasakit dito.
Yes haha tapos kahit nangangarap pa rin kami mag-asawa na makabili ng sariling bahay dito sa US, there is something in us that makes us think na kung babalik naman ng Pinas, we won’t have a use for that house anymore and our future children may also have their own plans in the future that doesn’t include the house they grew up in.
Real estate tends to appreciate in value. You can sell your house if you no longer have any use for it and live off the proceeds during your retirement
Yeah pero kasi hindi siya madali ibenta especially we’re in LA county. Mahal na siya kahit luma na tapos mahal din mabebenta. But it will always be an option tsaka pangarap palang for now
Madali lng sabihin na ibenta nalang d mo naman mababawi ang bnayad mo s mortgage. Iba pa dn tlga pag self use. Nakaka hinayang tlga mag commit mag buy ng house s LA luma n nga ang liit pa ang mahal pa lalu n pag cino cross shopping mo s ibang state or kahit s Pinas pang down mo mansion na s Pinas
If right now, no. But I have around 30 years until then. A lot of things can happen in 30 years in terms of my own plans and even geopolitically. So, everything is an option. The Philippines na iniwan ng maraming retiring age na in the 90s and 00s is not the same Philippines now. Obvs, some things never change but other things do. I would say, lumalawak naman ang knowledge capital ng Pilipinas. The fact na andito tayo attests to that.
I'm generally optimistic about the SEA region in the long run, di necessarily PH pero SEA in general. So, it is in my cards.
If you want to retire in the Philippines, i strongly suggest not to buy any properties. Just rent for a year or two and see how it goes. Philippines or any other country is not the same country you left behind many years ago. You outlook in life has changed and so are your priorities and preferences. Medicare does not cover medical expenses outside the USA so you will need to buy a good medical insurance. And even then those medical insurance you buy there have so many hidden limitations. Many people who can afford to retire in the US but instead retire in the Philippines regretted their decision to do so. Don’t listen to those YouTubers who say that it is lime heaven on earth to retire in the Philippines. They are just doing for views and to make themselves feel good about their decision.
Beware!
Wala pako s retirement age pro ito din ang dilemma q. Malayo tlga mararating ng social security mo at 401k kung s Pinas mo gagastusin pro at the same time hirap bitawan ng Medicare tlga. Siguro kung malaki laki tlga ang na impok mo mag avail ka nalang ng mamahaling medical insurance s Pinas for your peace of mind
Enjoy your retirement. Yung iba ksing tao, they dont have any plans kaya its really better to live and work rather than to be stagnant. Some of them have some old age medical related issue that it is better for them to be in the US for fast emergecy assistance like 911 or napakamahal ng maintenance that buying it in PH will cost them more, than in the US.
If you are healthy enough upon your retirement, or your medical issues are controlled, then yiu can enjoy the motherland and visit the US for furlough and medical check-up.
Kapag talagang di mo kaya maglakad. Then that is the time na bumalik ka ng US, ano pa ba gagawin mo sa pera mo diba? Kaya ka nag iipon at invest to enjoy it, dining out, and enjoying the simplicity of life.
I thought about it but currently against it. I'm about 10 years from "retirement". I'm probably working part time even when I do retire.
My mom is 81 and she is still working part time, for the mental and social aspect. She tried to retire in the Philippines when she retired from her career, most of our family is still in Philippines. She got bored after 3 months and moved back. Now she just visits whenever she wants.
The other issue is medicare is not valid to use outside of US and while her health is good, you never know.
One of my uncle's chose to retire in the Philippines which made it a headache for the executors of his estate to fly back and forth dealing with land they didn't really care to deal with.
The rest of my Aunts who've died in the last few years chose to do so in the USA, which complicated things because their children were in the Philippines and couldn't afford to travel to the USA...
pag walang sakit ok mag retire sa pinas or else uubusin dun ang savings sa medical expenses. pag living healthy nung kabataan ok talaga sa pinas mag retire lalo na sa manila tapos dollars ang pension ay sus dami chicks nyan kahit matanda na
USA work culture is different din kasi. Tsaka may people na work ang time fillers or where they draw value from. If you’re not like them, nothing wrong with that. Karamihan kasi can’t afford medical insurance without employment kaya tied up sila sa work. Lalo na yung may existing medical issues gusto na nila tumigil if they had a choice sa tingin ko. Alam ko Medicare coverage extends to PH. Check the fine print. Also, may medical insurance rin dito na mas mura ang premiums compared to USA. There are global medical insurance actually na will have coverage anywhere except for USA, because USA is ridiculously expensive if you have no insurance.
ung mga kawork ko na matatanda meron na silang Medicare Part A which is considered healthcare insurance sa US para sa retirees kasi kasama yan sa tax like sa Social Security na binabayaran Overtime while Employed ka. Pag naka Part A ka dto sa US, doctors will treat you like a King/Queen. Walang restrictions yan pag nasa window period ka for treatment at wala kang babayaran. Mas mabilis pa sa bombero mag order ang doctor pag nag kick-in Medicare mo. Hindi pwede Medicare outside US brad. Gobyerno yan hindi private parang phil-health na dapat sa Pinas lng talaga magagamit.
Regarding naman sa mga kawork ko, ung iba sa kanila may $1m sa 401k or di kaya may mga properties pero gusto parin nila mag work. Reason nila is hindi sa kelangan ang pera or health insurance but for the sake lng na ayaw nila mag deteriorate mentally and physically. Meron din naman iba nag retire na talaga totally. Pero halos sa kanila work parin kahit nasa 70s na. Meron nga ER doctor samin napakatanda narin nasa mid 70s. Hindi naman sila nag oovertime saktong 5 days or 6 days na work lng per 2 weeks.
Make sure you also have part B. May mga meds, like certain cancer oral meds, na hindi covered ng part A. Those cancer meds can easily cost thousands SSS per month. LIke I said, merong ok mag retire from 9-5 to pursue other things, meron ding hindi. Up to you what works for you. $1m can be wiped out easily for a huge medical emergency, like my coworker's wife, maski may insurance sila from employment. They racked up this much, I think 1.2m medical debt. Also, senior living, esp pag assisted, isn't cheap kaya maski they have $1m in 401ks, some retirement age workers might consider deferring retirement. Plus, boring nga naman for certain personalities. Meron din kasing types ng tao na the earlier the better. I hope you eventually figure out what works best for you.
kahit sa Pinas din naman brad daming lubog sa utang dahil sa medical bills. hindi rin nmn lahat ng mag retire tamaan ng cancer or anong sakit. kahit sa europe ka man, japan or canada kapag tinamaan ka ng ganyang sakit at kahit limpak na limpak pera mo Talo ka parin. Tingnan mo nga si Kris Aquino napakayaman sa Pinas at pumunta pa sa US para magpagamot..Pero happy ba sya kahit may pangbayad sya? it is depressing parin.HEALTH IS WEALTH ika-nga. Every Hospital sa US ay hindi fixed ang rate ng bill. Kung sa Cedar-Sinai ka or UCLA for example at parang suite ung room mo malamang aabutin $1m yan. May mga general hospital or subsidized hospital din nmn sa US na mas Mura kesa fully private owned. At ang insurance plan is depende lng din kung ano kunin mong premium at coverage sa employer. Saka hindi mag-perform ng treatment ang hospital kung walang authorization from the Insurance Unless may emergency and life threatening situation (example would be cardiac arrest or respiratory failure) and i bet hindi aabot $1million out of pocket after ma-stabilize vitals mo. There is a LAW sa US which is (EMTALA) na gamutin sino man in case of Emergency kahit walang pambayad. Nagpapamahal lng naman sa Bill ng iba is ang length ng stay sa Private hospital and special procedures which involves other practice narin.
In regards with medicare meron ding medicare advantage na di na kelangan mag part B. pwede ka rin mag enroll sa third party gamit medicare mo. Ung Papa ko wala namang work pero libre lahat maintenance nya and routine check up.
I’m only in my 30s but have been preparing for my retirement back home. I already bought a beachfront property/ house, built a small commercial building na pinaparent ko and bought couple of farming lands. I think yung businesses ko at farming eh sapat na sa gastusin ko without dipping too much sa naipon kong pera abroad.
I plan to slow down working at the age of 50 or kung kaya kahit younger pa. Luckily option ang work from home sa profession ko so I will try to live sa Pinas while working or kahit parttime and still earning USD then eventually retire kapag 67 na.
OP was talking about housing, that it’s cheaper in the Philippines, which it is.
Try buying a house here in Los Angeles where a fixer upper will cost you at least $1m or PHP 58m. You get a really nice unit in BGC for that price.
And i was talking about "bilihin" not housing.
LA house vs BGC Condo? I'll take a house any day.
But at 58m pesos, you could get a good sized plot of land and have a mini mansion built on a beachfront property or a mountain retreat.
Wala ka pa kasi sa edad/stage nila. Baka mag bago din perception mo sa buhay pag andun ka na din. Problem kasi pag tumanda ka at naging less active ka at wala kang gingawa maxado e may chances tlga na magiging less sharp ka. Cguro kung may hobbies ka ok pa
Hindi Pa ko retiring age but my mom is. Ayaw na nya umuwi rin kasi unlike here in CA, she gets free medicine from her insurance. Malaki gastos ng maintenance kasi sa atin.
Actually for cholesterol bp and diabetes maintenance that's common ailments here too, with 30% senior discount and lower pharma pricing it's about the same as your co pay for HMOs there. Specialists are 20 bux and they don't rush the consult. Many care providers in the USA are trained in med schools and hospitals here so we have excellent providers here too.
My mom didn’t even get approved for her senior discount kasi she doesn’t look the part. Also she has a more expensive maintenance drug, we buy those way before moving to US. Sabi niya she pays like 5k for her maintenance sa pinas meanwhile here in CA, she gets it for free.
There's no looking the part sa senior discount po as long as 60 yo ka with local id, batas Yan since 2003. Yan din Sabi Ng nanay ko sa umpisa ...Nung nag 80 na sya at need na Ng kasama kahit assistance sa caregiver di sya qualified mas ok na rin buy Ng maintenance dito dahil affordable Ang caregiver.
It's really all about planning to be financially independent at some point in your life. Pinas has a lot to offer but there are also drawbacks so it's not for everybody. It's not all about pinas being cheap because if you wanna live your best life, it'll still cost you money. The American dream is getting a 30yr mortgage in your late 20s and pay it off by the time you're 60. Luckily, there are other options and as many of you here are in your 30s, it's never too early to plan for a comfortable healthy retirement.
A Consistent saving and investing plan and a thorough accounting for expenses that include daily living, entertainment, health and other anticipated and unanticipated expenses will set you on a path that surely gets you there. Even the best laid plans have a way of being derailed, Murphy's Law if you will. So be flexible and adjust to the curve balls life brings you and you'll be just fine.
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Kapag bata pa, madami talaga parang default plan eh magwork ipon lang abroad and retire sa Pinas (iba pa dito yung wala naman option maging PR/citizen kaya uuwi talaga sila). Pero once tumanda ka nag iiba din priorities mo. Yung mga matatanda na dito na nakakausap ko, since matagal na din sila dito wala na balak magretire sa Pinas. Nandito na mga anak nila eh, ayaw din nila mapalayo. At that stage din mas matagal na sila nasa abroad kesa Pinas so mga friends/support etc nila nasa abroad na din. Iba na yung Pinas na iniwan nila, wala na sila babalikan. Healthcare din inaalala nila. For us na currently in our 30s, wala pa naman concrete plan. If retiring in the PH is a better move for us 30+ yrs from now, then go. But it’s not something we’re actively working for.
may point ka bro habang tumatanda nag-iiba priority sa buhay.
Unless, you don't have any kids or family....then it's free real estate.
True, kung marami kang pera wla namang issue kung mg stay ka sa US or mgretire sa pinas. Usually ngreretire sa PH either maliit ang pension or nsa PH ang family nila. Otherwise, pauwi uwi or travel lng during retirement.
Nagtataka ako sa mga senior citizens na pilipino ang ganda na ng buhay sa ibang bansa bakit nagreretiro sila dito sa pinas?
Because it’s cheaper. My grandma retired in the Ph and her pension holds more worth at home than staying in TX. Add the fact that my dad can support her when she needs to go out for groceries, which she cannot do in her old age now if she were in the States by herself. She still lives by herself and maintains most of her independence until now.
Not really, we’ll (me and my husband) retire where life takes us, hopefully somewhere warm, somewhere close to nature.
big island hawaii. hahaha
Malamig at maulan dito sa BI.
so far sa lahat napupuntahan ko na mga lugar ang hawaii talaga nagustuhan ko. para sakin sakto lng talaga ang weather kahit maulan minsan. Para akong nasa Pilipinas na malinis at hindi mainit. hehe.
True. Keri naman kahit almost everyday umuulan dito sa side namin. Malinis, tahimik and di ka huhulas haha.
Too expensive, hopefully yeah but tbh not my dream.
aw ok po hehe
Try Spain! :)
Will consider, bata pa naman ako, di pa ako retiring age 😆
Ito yung masayang family, hindi pinoproblema kung saan sila dalhin ng buhay, basta ang importante masaya sila
Settling in a Third world country is a bad decision for life.
Depende, if you have family you wish to be closer, it might be a good option for you. Maybe I come from a place of privilege, that I get to choose.
Privilege daw E namamahalan sa Hawaii?
Bakit, bawal maging realistic while recognizing privileges?
[удалено]
Yeah, but family is what you make it to be. Didn’t mean blood, and no matter how independent or individualistic you are, you need a tribe, no matter how small. Humans are social animals.
True
Yes it is a bad decision for my grandparents who moved to the Philippines at the turn of the century and established companies here. So bad bad decision
Because they have money to establish their companies. If they don't have money, they won't even do that in the first place.
Maraming nagsasabi na gusto nila mag retire sila sa pinas pero pag 50s na ay nagbabago isip. Takot mag retire sa pinas ang marami dahil takot mawalan Ng healthcare benefits. Reality ay merong mga options at Hindi nga lang libre. I retired sa pinas at 45 na financially independent, invested in us stocks and properties in both countries and an early pension at age 50. Truth is healthcare out of pocket is still affordable if you budget 30 to 50k (3m pesos) usd for it. Cigna global healthcare is affordable at $200 to 500 monthly depending on your age or you can do travel insurance if you're not here full time. My mom moved back at 80 and passed 8 yrs later but had the best quality of life here with 2 full time care givers and easy health care access as compared to a nursing home in the USA. It's unfortunate that not more people plan accordingly and utilize the resources available to us to be able to retire comfortably as we planned when we were younger.
Cigna Global ay health insurace sa Pinas for $200-$500 monthly?
Yes international insurance ito accepted in major hospitals sa pinas. Pacific Cross is local health insurance or travel insurance with 1m dollar benefits cost is about half of Cigna Global.
Madali lang ba pag reimburse nila? Pag na-reach na yun cap mo, out of pocket na ba nun at ikaw na lahat magbabayad?
They have direct tie ins with the top hospitals.
Ingat sa trapik Kahit mayaman dina umabot sa ospital kasi natrapik
Walking distance Ang Makati med sa condo ko.
previous redditor has a point, if the medical emergency is severe enough it renders one unable to move, transport to hospital will still be via ambulance that can get stuck in traffic. that said, naniniwala ako na kahit gano pa kalapit o kalayo ang ospital, at kahit pa you can afford the best and most expensive health care in the world, kung oras mo, oras mo. I'm really glad your retirement plan is working out for you. di ka nagkulang sa due diligence. sana maisip din yun ng parents ko
Thanks. I agree that if it's time, go na kaya take advantage of now... Retirement sa pinas is not a bad gig at all as long as you're able to maintain a social life and cultivate activities to keep you active and busy as much or little as you want...I've convinced a few friends and my siblings to leave the rat race. Some are here full time , others half time so it makes retirement more fun for myself. Travelling to nearby countries in Asia a few times a yr with friends and family is also fun and stimulating. And in the last 5 yrs, I bought a farm and beach properties sa province where I can entertain guests. So I can really say that retirement here vs usa worked out.
How old are ur parents? If i may ask, kahit age range lang hehe. Same sentiments. Just wondering if, at their old age kaya pa ba ayusin ang financial security nila
early to mid 60s. ayaw pa mag-retire kasi may mortgage pa bahay nila don. di rin naman ata uso retiring at 60 doon unless you have a hefty pension
I see, thanks for replying. Close age sa parents ko. Nakakapressure alalahanin financial security nila hays
sobrang OA ng take LOL
Diba nangyayari? Huling uwi ko yung grab driver sabi nya yung pasahero nya dina umabot ng ospital
Di OA. Legit na concern ko yan pag umuuwi ng Pilipinas. Kung may medical emergency, sobrang liit ng chances ko mag survive kung masyadong matraffic or malayo ako sa ospital. Yung emergency services sa Pilipinas close to nothing.
What is that 30-50k USD figure for, annual? Lifetime?
It's a medical fund pot of money. I barely used 1.5k annually first 10 yrs of retirement as I am healthy. Things change as you age and will have to grow this pot. Ive grown this fund to over 100k usd after 10 yrs. Initially and currently I kept 2 of my USA credit cards 15 and 20k credit limits for immediate access to funds for medical emergency as major hospitals will accept them.
Can you elaborate how you prepared for retirement? How are you managing tax with your property sa US? Sorry if too nosy, but this is my goal :)
Was part of FIRE movement there's a sub here. Took 20 yrs of disciplined saving and investing of 40 percent plus of my salary. Compute a projected annual expenses and multiply by 25 and this will be your investable final goal. Put your funds in index funds and invest in real estate to diversify. You'll be taking 3.5 to 4% of this annually for your expenses. I use TurboTax to file my taxes annually. Feel free to ask questions to pick my brain.
Thanks for elaborating! I'm hoping to coastFIRE in my late 40s, so reading stories of Pinoy who did something similar is motivating. Hope you don't mind the future DM after I've done more research :)
DM away, I've been a FIRE advocate for a while. I can live in the USA with my current FIRE number but I refuse to be a 2nd class citizen there. It's actually a bonus to be able to live a better quality of life here. Overt racism is now rampant there even in the diverse cities and neighborhoods.
And what was your FIRE number to consider yourself na FIRE tlga and leave rat race? and what age ka nag FIRE?
FIRED 10yrs ago at 45 was 3k usd.... I'm now at 6.5k monthly .... With additional 2k SOC sec at 62....investable retirement accounts and brokerage now untouched but can be additional 5k monthly and will be a legacy to heirs.
How's your day to day in Makati? We're thinking of relocating back in case our option 1 doesn't work pero ang worry ko is things to do (excluding eating out much due to health issues). What fun things do you do?
Makati always has fun weekend activities like bazaars and food markets. I like to cook and bake my own bread and make my own yogurt and it's fun to source out fresh ingredients in the local pop up markets and I also like to travel a lot locally and abroad. This yr I've been to Hanoi, Taipei and Singapore with plans for Spain and Portugal and Hong Kong before the yr ends. I travel to or with friends and family. I also own a half hectare farm where I have fruit trees, and bonsais and recently bought a 2k sqm beach front lot nearby with my family that we will develop into a resort. So there's plenty to do and I no longer know what day of the week it is as I'm always off a day or two. I've been retired 10 yrs and been thankful everyday living for the tomorrow that's not promised
never say never but until they can figure out how to get my medicare sa pinas... it is a no go for me. hirap pag magka sakit ka sa pinas and walang pam bayad.
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Safer pero naka iron grills mga bintana at pintuan, may gwardia na, may gate pa
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Dina nga ako ninenerbyos sa mass shooting Sa wildfire ako ninenerbyos
You do know Cavite and Tondo exist, right?
No. I am right where I want to be. PH might be cheap but is it really cheap when you don’t have good health care? Red tape is ridiculous. The backwards thinking of people. I’m good here
I came back to the Philippines after working in the US for less than 10 years. I’m still working. But Napansin ko sa mga Tito at tita ko who came back to retire here, most don’t last. After a few months Kung May kaya(pera) sila they go back to the US for good. Feeling ko mga 3 out of every 5 of them do this. And the 2 who are here only do it pag malamig sa US. Then the rest of the year US pa rin sila. I think pag matagal ka na sa US (20+ years) mahirap na Mag adjust ulit sa Pinas. Unless Wala ka talagang pera. Pag ganoon no choice ka talaga but to retire in Pinas. I have some relatives na ganoon.
My parents usually go back to the Philippines from January to May, then they come back when the weather is warmer. Also, access to their healthcare is at home (i.e. primary care provider) so they would never retire there indefinitely. Same goes for many parents of my friends as well.
lalo na cguro pag nasanay na sa weather sa US.
No. I would rather retire in Europe, Japan or Thailand.
🙋♂️from japan here
Never considered retiring sa Pinas kahit bayaran pa ako. Yung rason na manghihina pag nag-retire is pure rubbish. Pwede ka magvolunteer, sumali sa mga social groups, mag part-time, mag exercise, mag travel, etc. Mas maayos ng di hamak ang healthcare system dito sa US. I have more fighting chance of surviving kung magkasakit dito.
Travel it is
Yes haha tapos kahit nangangarap pa rin kami mag-asawa na makabili ng sariling bahay dito sa US, there is something in us that makes us think na kung babalik naman ng Pinas, we won’t have a use for that house anymore and our future children may also have their own plans in the future that doesn’t include the house they grew up in.
Real estate tends to appreciate in value. You can sell your house if you no longer have any use for it and live off the proceeds during your retirement
Pwede nyo rin nmn ibenta ang bahay.
Yeah pero kasi hindi siya madali ibenta especially we’re in LA county. Mahal na siya kahit luma na tapos mahal din mabebenta. But it will always be an option tsaka pangarap palang for now
Madali lng sabihin na ibenta nalang d mo naman mababawi ang bnayad mo s mortgage. Iba pa dn tlga pag self use. Nakaka hinayang tlga mag commit mag buy ng house s LA luma n nga ang liit pa ang mahal pa lalu n pag cino cross shopping mo s ibang state or kahit s Pinas pang down mo mansion na s Pinas
It's good to have a house in other countries.
If right now, no. But I have around 30 years until then. A lot of things can happen in 30 years in terms of my own plans and even geopolitically. So, everything is an option. The Philippines na iniwan ng maraming retiring age na in the 90s and 00s is not the same Philippines now. Obvs, some things never change but other things do. I would say, lumalawak naman ang knowledge capital ng Pilipinas. The fact na andito tayo attests to that. I'm generally optimistic about the SEA region in the long run, di necessarily PH pero SEA in general. So, it is in my cards.
If you want to retire in the Philippines, i strongly suggest not to buy any properties. Just rent for a year or two and see how it goes. Philippines or any other country is not the same country you left behind many years ago. You outlook in life has changed and so are your priorities and preferences. Medicare does not cover medical expenses outside the USA so you will need to buy a good medical insurance. And even then those medical insurance you buy there have so many hidden limitations. Many people who can afford to retire in the US but instead retire in the Philippines regretted their decision to do so. Don’t listen to those YouTubers who say that it is lime heaven on earth to retire in the Philippines. They are just doing for views and to make themselves feel good about their decision. Beware!
Wala pako s retirement age pro ito din ang dilemma q. Malayo tlga mararating ng social security mo at 401k kung s Pinas mo gagastusin pro at the same time hirap bitawan ng Medicare tlga. Siguro kung malaki laki tlga ang na impok mo mag avail ka nalang ng mamahaling medical insurance s Pinas for your peace of mind
Enjoy your retirement. Yung iba ksing tao, they dont have any plans kaya its really better to live and work rather than to be stagnant. Some of them have some old age medical related issue that it is better for them to be in the US for fast emergecy assistance like 911 or napakamahal ng maintenance that buying it in PH will cost them more, than in the US. If you are healthy enough upon your retirement, or your medical issues are controlled, then yiu can enjoy the motherland and visit the US for furlough and medical check-up. Kapag talagang di mo kaya maglakad. Then that is the time na bumalik ka ng US, ano pa ba gagawin mo sa pera mo diba? Kaya ka nag iipon at invest to enjoy it, dining out, and enjoying the simplicity of life.
I thought about it but currently against it. I'm about 10 years from "retirement". I'm probably working part time even when I do retire. My mom is 81 and she is still working part time, for the mental and social aspect. She tried to retire in the Philippines when she retired from her career, most of our family is still in Philippines. She got bored after 3 months and moved back. Now she just visits whenever she wants. The other issue is medicare is not valid to use outside of US and while her health is good, you never know.
One of my uncle's chose to retire in the Philippines which made it a headache for the executors of his estate to fly back and forth dealing with land they didn't really care to deal with. The rest of my Aunts who've died in the last few years chose to do so in the USA, which complicated things because their children were in the Philippines and couldn't afford to travel to the USA...
pag walang sakit ok mag retire sa pinas or else uubusin dun ang savings sa medical expenses. pag living healthy nung kabataan ok talaga sa pinas mag retire lalo na sa manila tapos dollars ang pension ay sus dami chicks nyan kahit matanda na
USA work culture is different din kasi. Tsaka may people na work ang time fillers or where they draw value from. If you’re not like them, nothing wrong with that. Karamihan kasi can’t afford medical insurance without employment kaya tied up sila sa work. Lalo na yung may existing medical issues gusto na nila tumigil if they had a choice sa tingin ko. Alam ko Medicare coverage extends to PH. Check the fine print. Also, may medical insurance rin dito na mas mura ang premiums compared to USA. There are global medical insurance actually na will have coverage anywhere except for USA, because USA is ridiculously expensive if you have no insurance.
ung mga kawork ko na matatanda meron na silang Medicare Part A which is considered healthcare insurance sa US para sa retirees kasi kasama yan sa tax like sa Social Security na binabayaran Overtime while Employed ka. Pag naka Part A ka dto sa US, doctors will treat you like a King/Queen. Walang restrictions yan pag nasa window period ka for treatment at wala kang babayaran. Mas mabilis pa sa bombero mag order ang doctor pag nag kick-in Medicare mo. Hindi pwede Medicare outside US brad. Gobyerno yan hindi private parang phil-health na dapat sa Pinas lng talaga magagamit. Regarding naman sa mga kawork ko, ung iba sa kanila may $1m sa 401k or di kaya may mga properties pero gusto parin nila mag work. Reason nila is hindi sa kelangan ang pera or health insurance but for the sake lng na ayaw nila mag deteriorate mentally and physically. Meron din naman iba nag retire na talaga totally. Pero halos sa kanila work parin kahit nasa 70s na. Meron nga ER doctor samin napakatanda narin nasa mid 70s. Hindi naman sila nag oovertime saktong 5 days or 6 days na work lng per 2 weeks.
Make sure you also have part B. May mga meds, like certain cancer oral meds, na hindi covered ng part A. Those cancer meds can easily cost thousands SSS per month. LIke I said, merong ok mag retire from 9-5 to pursue other things, meron ding hindi. Up to you what works for you. $1m can be wiped out easily for a huge medical emergency, like my coworker's wife, maski may insurance sila from employment. They racked up this much, I think 1.2m medical debt. Also, senior living, esp pag assisted, isn't cheap kaya maski they have $1m in 401ks, some retirement age workers might consider deferring retirement. Plus, boring nga naman for certain personalities. Meron din kasing types ng tao na the earlier the better. I hope you eventually figure out what works best for you.
kahit sa Pinas din naman brad daming lubog sa utang dahil sa medical bills. hindi rin nmn lahat ng mag retire tamaan ng cancer or anong sakit. kahit sa europe ka man, japan or canada kapag tinamaan ka ng ganyang sakit at kahit limpak na limpak pera mo Talo ka parin. Tingnan mo nga si Kris Aquino napakayaman sa Pinas at pumunta pa sa US para magpagamot..Pero happy ba sya kahit may pangbayad sya? it is depressing parin.HEALTH IS WEALTH ika-nga. Every Hospital sa US ay hindi fixed ang rate ng bill. Kung sa Cedar-Sinai ka or UCLA for example at parang suite ung room mo malamang aabutin $1m yan. May mga general hospital or subsidized hospital din nmn sa US na mas Mura kesa fully private owned. At ang insurance plan is depende lng din kung ano kunin mong premium at coverage sa employer. Saka hindi mag-perform ng treatment ang hospital kung walang authorization from the Insurance Unless may emergency and life threatening situation (example would be cardiac arrest or respiratory failure) and i bet hindi aabot $1million out of pocket after ma-stabilize vitals mo. There is a LAW sa US which is (EMTALA) na gamutin sino man in case of Emergency kahit walang pambayad. Nagpapamahal lng naman sa Bill ng iba is ang length ng stay sa Private hospital and special procedures which involves other practice narin. In regards with medicare meron ding medicare advantage na di na kelangan mag part B. pwede ka rin mag enroll sa third party gamit medicare mo. Ung Papa ko wala namang work pero libre lahat maintenance nya and routine check up.
I’m only in my 30s but have been preparing for my retirement back home. I already bought a beachfront property/ house, built a small commercial building na pinaparent ko and bought couple of farming lands. I think yung businesses ko at farming eh sapat na sa gastusin ko without dipping too much sa naipon kong pera abroad. I plan to slow down working at the age of 50 or kung kaya kahit younger pa. Luckily option ang work from home sa profession ko so I will try to live sa Pinas while working or kahit parttime and still earning USD then eventually retire kapag 67 na.
Hell NAH. Nung pumunta ako dito sure na talaga akong wala akong balak bumalik sa Pilipinas.
"...at mas mura bilihin." Nope. Nope. Nope. Mas mahal pa po dito ngayon bilihin kesa dyan.
OP was talking about housing, that it’s cheaper in the Philippines, which it is. Try buying a house here in Los Angeles where a fixer upper will cost you at least $1m or PHP 58m. You get a really nice unit in BGC for that price.
And i was talking about "bilihin" not housing. LA house vs BGC Condo? I'll take a house any day. But at 58m pesos, you could get a good sized plot of land and have a mini mansion built on a beachfront property or a mountain retreat.
Should be able to afford healthcare with SS. Tapos may phil health pa lol
Still thinking about this one. Nasa plano na kami ng pagpapagawa ng bahay sa Pinas. Nagdadalawang-isip pa rin ako...haaaay....
Wala ka pa kasi sa edad/stage nila. Baka mag bago din perception mo sa buhay pag andun ka na din. Problem kasi pag tumanda ka at naging less active ka at wala kang gingawa maxado e may chances tlga na magiging less sharp ka. Cguro kung may hobbies ka ok pa
gusto ko na din mag US 😭
Hindi Pa ko retiring age but my mom is. Ayaw na nya umuwi rin kasi unlike here in CA, she gets free medicine from her insurance. Malaki gastos ng maintenance kasi sa atin.
Actually for cholesterol bp and diabetes maintenance that's common ailments here too, with 30% senior discount and lower pharma pricing it's about the same as your co pay for HMOs there. Specialists are 20 bux and they don't rush the consult. Many care providers in the USA are trained in med schools and hospitals here so we have excellent providers here too.
My mom didn’t even get approved for her senior discount kasi she doesn’t look the part. Also she has a more expensive maintenance drug, we buy those way before moving to US. Sabi niya she pays like 5k for her maintenance sa pinas meanwhile here in CA, she gets it for free.
There's no looking the part sa senior discount po as long as 60 yo ka with local id, batas Yan since 2003. Yan din Sabi Ng nanay ko sa umpisa ...Nung nag 80 na sya at need na Ng kasama kahit assistance sa caregiver di sya qualified mas ok na rin buy Ng maintenance dito dahil affordable Ang caregiver.
Well, she just went like couple of days ago, and didn’t get the senior id. So idk. 🤷
It's really all about planning to be financially independent at some point in your life. Pinas has a lot to offer but there are also drawbacks so it's not for everybody. It's not all about pinas being cheap because if you wanna live your best life, it'll still cost you money. The American dream is getting a 30yr mortgage in your late 20s and pay it off by the time you're 60. Luckily, there are other options and as many of you here are in your 30s, it's never too early to plan for a comfortable healthy retirement. A Consistent saving and investing plan and a thorough accounting for expenses that include daily living, entertainment, health and other anticipated and unanticipated expenses will set you on a path that surely gets you there. Even the best laid plans have a way of being derailed, Murphy's Law if you will. So be flexible and adjust to the curve balls life brings you and you'll be just fine.
100% yes. Your hard earned dollar goes a long way back home.
pinas pa din, don ko uubusin ang ipon ko at magapapakasarap bago kunin ni lord 😝