Living on a Big Retirement in the Philippines!!!! Many Do !!!

A brief talk about what one can get when living on a $4000-$9000 and on up. We talk about how good life can be on an upper class monthly budget.

[@danluzurriaga6035]

Excellent video. It is the first one I have seen that does not promise you a fantasy retirement living on Social Security alone. It is realistic. Many of us hire maids and other helpers like cooks (helping the local employment situation as well) and buy nice cars with or without drivers and live somewhat better here on 6 to 8K than we would back home, with lot's of plusses like friendly people around you, a beautiful country with a lot of freedoms and nice weather and a bonus: the people speak English. With that as a fixed income, you can fly back home and stay there for a few months out of the year too if you wish. Actually, this video fills a niche that includes not just a few but a lot of retirees here. I don't know why so many other vloggers seem to ignore this group. Many Americans here worked hard, planned and live quite well in the Philippines.

[@MoorDragon]

Thanks so much for addressing those of us who will have bigger budgets. You're the first vlogger I know of who has done that. I know that having a bigger budget and higher lifestyle might draw too much attention from those who live in poverty there, but that shouldn't be a problem if you're living in a gated community, high rise condo or a place where others have a similar income. Bottom line is people should be allowed to live however they want to live. I'm going to have an income that is above $6K when I retire but I see no reason to apologize for that. It is what it is. So I plan to live well. Nothing wrong with that.

[@MrSteven5975]

Exactly 👍💪🙏🏻

[@chrisj302]

Bigger house means more family asking for help and more attention drawn to you. Budgets in the PH are always based on the individuals lifestyle. Sadly I do see quite a few disabled veterans who are not active and can’t seem to enjoy the all the Phils has to offer. They often gather at places like Gerry’s and start drinking in the late morning and take care of the young women at night. Personally as someone with an East Coast lifestyle in the US I have found $2k a month in the Phils is a great budget to live simply but gives you the opportunity to eat out and travel within the Phils whenever you want. Good video.

[@MrSteven5975]

$2000 is the beginning of the Sweet Spot Budget I did. It’s a great place to be.

[@mela6046]

@@MrSteven5975 decent income yes :)) (& positive cash flow VS draining all the time also helps :)) (bfsplatinum,financialservices48secsad;Volvocars30secsAd)

[@donaldmosher9420]

I live very good on $1785 and save about half each month

[@100bluegreen5]

Money can’t buy happiness... but it could buy a boat!

[@gregorywiley9772]

Money can keep you from being worried when the rent and electric is due.

[@jasoncease6288]

Money may not be able to buy happiness, but it can prevent alot of misery.

[@mromneyobama]

@@jasoncease6288 What amount of money we talking here coz I want to prevent my misery.

[@danielnetz7539]

I often hear vloggers talk about how little (financially) people can live on but rarely hear discussed options for those with larger budgets. I'm planning on living in a Condo in Manila, next to a large mall, and eat our at nice restaurants regularly. I've worked hard and saved all my life, my retirement in the Philippines will be my time to live large and have lots of fun. To travel regularly and even help others in need. I can't wait!!!

[@MrSteven5975]

Trump Towers is even very manageable for many with decent rents

[@ericbown1551]

@@MrSteven5975 Trump tower seems to have a plethora of prostitution milling around century, better four seasons apartments or uptown suites. I’ll rent in the seasons, my girl can still work in banking district if she wishes. Surrounded by great restaurants and weekends by the beach. If I can ever get there.....to see my beautiful girlfriend.

[@manilamartin1001]

@@MrSteven5975 yup for about 25-40M.

[@dhookster7459]

I am a 56 yr old Marine Corp Veteran who recently were diagnosed through MRI and series of checkups and now officially considered disabled. I am lucky enough to have VA Housing cover my rent and is providing me with help because I am unable to work. I qualify for little over $2,100 a month for disability and also waiting for decision from the VA Disabilty too(i don't know how much money!). I also have 20years of Union pension which will pay about $2,000 a month. My plan is to live a luxury, happy life on a property at hilly beach area to overlook at all of those Islands when I wake up to drink my coffee in the morning, watching the Sun rise on Palawan Island, Phillipines!

[@xo7454]

I'm retiring on USD9500/month, but I want to live in a small nipa hut. One in a cold place. One in a warm place. But I'm slowly getting out of social media and learning to live discrete, so I don't attract scammers and envy.

[@danielmoore1232]

To be honest, I would have a really hard time living high like that while I was surrounded by such horrible poverty. I just couldn't do it. Even if I were wealthy I would have to live an average life. And I'd have to help people a lot.

[@ariefraiser140]

@Boy George Why is it cringey? It's done in the US all the time. You mean you can never have nice things untill everyone isn't poor anymore?

[@racheysdad]

You have a point, but it's like saying you should feel guilty for having a nice house or car because there's kids starving in Africa. You can't put the world's troubles on your shoulders. I do my best to pay it forward and give back, but I still have no issues with living well with my hard earned money.

[@johnmiller7356]

I would spend some of my money and time helping others.

[@danielmoore1232]

I agree with the comments about hiring people and helping the economy. And a person has to live their life day to day the best they can. So I'm not saying that a person shouldn't own a home or drive a car. But I think it should be kept in perspective. I make really good money. And in my driveway sits a Ford that's several years old but it runs really well. I paid cash for it. To be honest I really wouldn't feel good about looking in my driveway and seeing a brand new fully equipped pickup truck or a Mercedes, a Harley, a boat and an RV, and an in-ground swimming pool in my back yard when I know there are people living on the same planet who don't have a sandwich or clean water to drink. What is a need? What is a want? While we lounge by the pool working on our suntan there are people dying. Just saying...

[@ofwseamansloan8585]

Thanks! That's a great idea.

[@LB-ty6ks]

The down side is you become a much bigger target for things you don't want to experience. I think from what I've learned from this channel and others is that $2000. to $2500.00 a month is the sweet spot. At least for me.

[@BetterWithAir]

I’m 27 and being able to drop that type of money once retired without being on a tight budget is inspiring. I’ll be excited to do the same for myself one day.

[@raptorgonzo4666]

My PI dream, who's a retired military built a really nice house with a pool in a gated community in Batangas

[@Cons2911]

Yup, lovely garden too

[@danielhackney7806]

@ Raptor Gonzo, Is PI dream a Philippine citizen? If not, I'd like to add "he built a really nice house for his wife." He has no land ownership rights as an expat. I will say, It was a very kind and loving gesture to build her a house. I'm sure he loves her very much or he wouldn't have built it for her.

[@nowimps06]

Yes renting is a good option to move around experience different places.

[@jmc2494]

Having peace of mind is everything. Live within your means, Save up for the rainy days, for the rain will fall.

[@johnc2438]

You said that $4000 a month in the States isn't much, when you add in car and mortgage payments. However, my Filipina wife and I live "large" (whatever that means) on our SSA payments and my small Navy CPO pension (adds up to the low six figures). Why? We never had car payments (always saved up and bought for cash) and long ago paid off our mortgage. There's really little or not excuse for retiring and still having car and mortgage payments dragging you down that then impels you to have to move to the P.I. if you want to "live large." With the house paid for and a well-maintained car in the garage, we don't have those two balls and chains holding us down. I keep a running worksheet on all my expenses with estimates for the entire year. All our basic expenses we meet with just my SSA payment. How could this be? I delayed my payment till I was 70, as we had nice investments that we gradually built up over decades of work. No mortgage and no car payment means having extra cash to spend on vacations (locally, right now) or overseas (for example: visited British Columbia and rode the ferries to Victoria; rented a car three years ago and toured Switzerland and France for three weeks by car -- fantastic; spent 10 days in Washington a couple of years ago and visited all the tourist spots and the Gettysburg battlefield exhibits and the Amish country; a few months before the pandemic, had a great time taking the Tokaido Shinkansen to Hiroshima and Kyoto, and then going wherever we wanted in and around Tokyo for a couple of weeks; and just days before the shutdown in March, my wife returned from a month in the P.I. to visit family members). Bottom line: You can live comfortably anywhere ("large" or "small" or in between) if you take time to plan, work the plan, and invest carefully: P.I. or Stateside. If we lived in the P.I., it would be in Baguio, and we would take care to live without targets on our backs: no flashy cars, no big and flashy houses, no flashy clothes, no trendy handbags or watches (Casio works every bit as well as Rolex). Not stealthily, but not flashy either. My car of choice, if I had to have a car: Suzuki Multicab (with aircon, of course, since I'm a white guy who melts in the heat and humidity now that I'm older -- in Vietnam, okay, but I was a youngster!). Blending in while being comfortable -- at a reasonable budget -- is, IMHO, the better option. Good vid! 😎

[@ariefraiser140]

It's a bit judgemental to say people that rather chase women and drink are "wasting" their income. One can say the same about renting a large house as single person or even a couple. No one needs that large a house and all the expenses that comes with it right? In fact I would say those huge recurring monthly expenses end up being more of a "waste" then the guys who go out drinking and chasing women. With that said let's just remember that many who travel over there are living out their retirement after a lifetime of grinding away. What they enjoy spending their money on may differ from what you may enjoy but as long as it's legal and not hurting other people I don't judge. I prefer a one person stable relationship myself. Too much headache for me switching partners every few days but if that's another man's cup of tea then enjoy is what I say as long as you're honest with your partners.

[@ofwseamansloan8585]

Money can't buy happiness! Yes but you can help others to be productiive and uplift lives.

[@KK-fb3tw]

I wouldn't criticize peoples spending habits as long as they are happy. Main thing you are happy.

[@gandalfstormcrow8439]

$3k+/month pension (+$100k in the market+$250k house, no mortgage). Problem is, $3k doesn't go far in the city and the provence has poor healthcare. Even in the city good luck getting that ambulance through traffic. Poor food quality (except for "western" supermarkets in major cities), air pollution, well I can go on. Point is, I recommend visiting before committing unless you're desperately poor. Less than $2k/ month pension? Might be a pretty good option!

[@MichaelPilit]

YOU ALWAYS TALK REALITY IN LIFE!!

[@victordunn6490]

Define waste! Live life to what you can afford, don’t be the richest person in the cemetery

[@brianadamson6607]

Sounds great but even if I had that budget I would still want a simple less extravagant life style

[@wesleybenn4523]

I am looking at the idea of buying a beach resort as my base and then keeping a condo somewhere like Cebu to use when travelling. That gives me the flexibility I need, lets me employ a large team which contributes to the local economy, and gives future financial security to my ladies.

[@jamesalias595]

In the USA I don't have a car payment or a house payment so I can live decently on a lot less than 4K a month. I currently live on less than 2K a month here in Arkansas. But I agree you should be able to live like a king in the PI with 4K and above. I would imagine that once you hit 2K a month you are going to start living better in the PI than the USA for each additional dollar of income.

[@kellymoyes2517]

Thanks Steve for the info.. living large does not always mean big.. for me it is going to be the quality of life...

[@toddhomman2569]

Perfect video of me, describes me almost to a tee! I am not a big spender on anything other than my car or house. And currently planning my trip to the Dumaguete area and I diff want a pool or at least a jacuzzi, need them for medical reasons. I wear shorts, tee-shirts and crocs everywhere, in my avatar that is the ONLY blazer/dinner jacket I have and it will not be needed in the PI. LOL This is the video for me. lol Thanks Steven

[@kamalsud3379]

Thank you for your practical and unique perspectives on living on a higher budget. You focused on half the story...ie..how will you spend it on yourself...at age 65+ the concept of wine, women and song gets less alluring. I want to make a positive impact on humanity before I go. In your next videos maybe you can shine a light on the best way to help the poor, the sick, the hungry and the downtrodden in an efficient and least wasteful way. Phillipines has given us a lot of great memories and experiences....if you can afford it, it is time to give back to its wonderful people.

[@MrSteven5975]

Thanks Kamal !!’👍❤️✌️🙏🏻

[@mromneyobama]

I already paid most of my taxes (like on 90% of my savings). So the moderate money I have, are almost all mine. I'm still wanting to work 3 more years and retire at 53. This is because I still have my youngest in elementary. I intend to save $30K during that period and then just let it grow to $45K by the time he needs it. I would give an extra $5K to round it nicely to $50K.

[@GV-19871]

Didn’t need to make a long video about this. Your living like a king in the Philippines. That’s it

[@mromneyobama]

A king without a castle.

[@bikerboy5592]

i do im from 2010 in philipines on my retirment have 2 bussiness have a good live in philipines live like a king

[@tswej]

I don't know who gives the best info on life in the Philippines you or Sunshine Shoulders. You are right about cost of living in America, I have a retired friend in Texas struggling to make ends meet on 5k a month with one school age child.

[@daviddodge9607]

Im used to living on a budget . My pension will only be 1700 dollars a month with 100 thousand savings . But I learned today that my govt pension will increase each year as the Philippines 🇵🇭 govt has an agreement with the uk 🇬🇧 government.

[@MrSteven5975]

Awesome news !!👍✌️🙏🏻

[@rudes440sb]

That should be plenty. I retire next year with a 2K monthly city pension with yearly COLA. Plus my house has been paid off.

[@lifeuncommon1116]

That is awesome news! I just checked it out and you are correct. For those who want the details: www.gov.uk/government/publications/state-pensions-annual-increases-if-you-live-abroad/countries-where-we-pay-an-annual-increase-in-the-state-pension

[@k9companion231]

Hey Steve! Time to do the life styles of the rich and shameless. LOL It would be good to see a rental for 1k or above or prices on an upscale beach house. Maybe see some prices on shameless excursions in five star hotel prices. Curiosity killed the cat. LOL First blogger to investigate this option. Go Steve and lead the way! God bless!

[@kmilton1593]

How about showing half a dozen actual examples of those properties (not the guys, just house/yards) ?

[@NeverGiveup-go7og]

Good morning sometimes when your island hop it’s fun to take a ship then if you have a little bit of money you can buy a private room for maybe 2000 pesos and not sleep in the common area

[@barrymitchell4424]

I do enjoy your videos. We have a big house and 2 farms up north. I’m afraid to visit.

[@medz1111]

..."it's not how much you have per month, but it's how much you enjoy life"...

[@truttman]

Self-insuring is not a good practice, especially as you age and your catastrophic risk increases. With self-insurance, you assume all the catastrophic risk for yourself. With insurance coverage, all your risk is then spread across the policy base, to include your portion, minimizing your catastrophic financial exposure. You could potentially decimate your savings by self-insuring. Probably would not be a good choice past 60.

[@Coffewithsteve]

When I am there I like buying or doing what I want.

[@obsidianstang6296]

Please do a video on hiring support staff, like drivers, maids + chefs: costs, where to find, etc. Also, perhaps touch on the issue of some guys hiring maids to fill extra needs...lol. It happens so much in Asia that China made a specific law against it. Haha, crazy world.

[@bobbruce4135]

That's a great topic. I've found the pros make lots of money and/or you risk scams and STD's. Most guys seem to succumb to marriage, family, and supporting everyone. The several guys having a GF are bankrolling a family and it often ends quickly if no ring. Peace.

[@winduncan9818]

I don't think these budgets are a big deal but they seem to get overlooked a lot. Anybody that worked 40 years, contributes 10-15% or so to 401k should have 3k+ between 401k and SS if they retire at 62. That's a pool villa type retirement if just living comfortably with a partner. It doesn't take much to have 500k in a 401k if you start early(500k at 4% $1500 a month + $1500 SS).

[@Lex-rt7vd]

I would agree with your statement on the 401k balance except for one thing. Divorce. One or two divorces and your 401k balance is going to take a hit. And that doesn't even take into account a lower amount of saving into the 401k after a divorce due to alimony and child support.

[@javonrob1]

Very true, but also we need to take into account that a large number of people that move to PI or Thailand never expected to move there until later years and thought they would stay home with their families in their old age.

[@agila1031]

you are right 😊 i waiting my retirement🎊 depends a lifestyle you like.🌅

[@mikefa5891]

The first question one would ask, when someone wants to know what retired life will be like in the Philippines with $8,000-$9,000 monthly budget is, WHY in the world would anyone would want to retire in the Philippines when they have that type of huge budget?!

[@MrSteven5975]

You live an incredible life with that amount

[@Untamedlove]

Great Information...I was in Philippines in 1980 and if you rented a apartment or house they included a maid for $5 USD a month.

[@rayr9089]

Thank you for the good content you provide

[@MrSteven5975]

Thanks 🙏🏻

[@morrishooks7536]

we do fairly well here. We have no debt. our home and SUV is paid off. We live on 2 1/2 acres with 5 employees taking care of the place. We live on a budget. We give 15% of our income to helping people. I've learn from people like Dave Ramsey how to manage my money.

[@bigman-tg8ss]

I really would like to retire in the philippines myself in about 10 years. I do have a girlfriend currently and I told her what I would like to do and she now is pretty excited about that possibility. This would mean we could have a budget of about 6k per month with money left over and we would never have to touch our retirement accounts

[@JWW10666]

I'm 36 and I'll be retiring in a few years when I turn 40. If the market continues the way it is and after restructuring my portfolio I'm estimated to be bringing in between $200k-$220k a year in dividends and interest. I already reserved a 4 bedroom 340 SQM condo in Manila that's set to be completed in the 2nd quarter of 2025, once I get situated I'm looking to find a nice lady to settle down with after I arrive.

[@51dbail]

The rich lady I once rented from. She owned her car and had a driver that maintained and drove her car. That's one way to go. For me, I let my GF drive in the city's.

[@KennyInSubic]

$3,500 here and life is good.

[@MrSteven5975]

I agree

[@dkatbena]

Just have the right place and people you can have good life here.

[@CornellSandifer]

Throwing away income?? well, that's subjective if you're buying what you want, what makes you happy then other's people's point of view of what is wasteful or not is invalid, could it be put to more productive use yes! but you can't count or spend other people's money.

[@jd1811]

Great unique topical video Steve, no one else has covered this

[@MrSteven5975]

Thanks 🙏🏻

[@sdleasia]

Good info. I'd rather keep in a quiet 1500-2000 range regardless of what I can actually afford. Keep the rest as travel/play money, but out of site and NOBODY'S business. Rather have people think I'm barely making it, than be a target.

[@Traveling-boomer]

When I first came over here before I got married years ago I did the Playboy thing literally different hot smoking babe every single night got to the point where I was probably racking up numbers like Gene Simmons but after a while even that gets old different Poontang every night literally does get old after a while.. it’s nice to settle down and get married you definitely don’t spend as much money once you’re married and just get one Smokin babe at the house but every guy has his deal going on different strokes for different folks I guess

[@alcourtines4707]

Steve, You are settled in with a lady. A single guy like myself will spend more. My hotel in Angeles costs me $63/night. I stay 2 mo.

[@gary4451]

Timely video. We all have different reasons for wanting to move to the Philippines. Budget is not the only reason. There is nothing wrong with a person wanting to live well if they can afford it.

[@MrSteven5975]

Exactly

[@xix645]

I dont do too bad, I have a cook, maid, driver, mechanic, gardner, shopper, admin assistant secretary, painter and security and they are all called maso maso.

[@billyjohnson9166]

Generally people with that kind of money don’t spend it frivolously. The dumb ones do.

[@mromneyobama]

Those who inherited big money like $200K+ from their parents do spend them frivolously as they have not worked hard for it.

[@jwhi419]

@@mromneyobama lol. 200k being alot? Lol

[@bigjohnson7415]

Indeed.

[@bigjohnson7415]

@@jwhi419 To appx. 200 Million + American citizens it is. The "Paycheck to Paycheck" lifestyle is alive and well in these here United States!

[@bryantsherman503]

Thank you, very interesting information.

[@billyjohnson9166]

A thousand dollars a month in nowhere land but in Cebu that will cost you $2,000-$2,500 a month or more especially in a nice subdivision.

[@MrSteven5975]

Even that’s negotiable

[@Untamedlove]

Great Video....Im so sick of those people living on $1000 a month budget video...

[@MrSteven5975]

Thanks 🙏🏻

[@travelinghobo]

If I had a reliable 8k a month before I met my wife, I would travel until I fell over dead. If I had the money after I married her, I would take care of family first, then see about traveling once in a while.

[@andrewl7644]

Hello I’m a single man 48 have a small home paid off. My thinking is I rent my home out and come there but I’m reading I must marry a Filipina within 6 months or deposit 50k in a Philippine bank before age 50 or 20k after age 50 ? First off is this true ? Also a hostile is fine with me. Is that cheaper than a condo due to lot fees etc. I’m not picky . Where would u say is the cheapest safest places to look into …province and hostile fine with me . Thank you !!!

[@MrSteven5975]

Email me for my number at [e-mail]

[@bigjohnson7415]

You might try a Hostel. Hostile is something else entirely!🤣

[@xpusostomos]

No, for $4 - 8k a month, you'd be having a blast on Walking St, 365 days a year. $800 a month for an apartment, and the rest spending money for nights out.

[@MrSteven5975]

And a few diseases on the house…… lol

[@truss6282]

You won't last long in that game.

[@JWW10666]

@@MrSteven5975 only if you don't use protection lol

[@Coffewithsteve]

You be able shop at greenbelt mall

[@PaulOsborne-dp4fj]

with dollar and peso accounts that I have never used. I am in process of personally writing a holographic will that I understand is legal in the PH. However, I am searching for a good expat group that meets periodically. If any of your other subscribers know of such an expat group on Lapu Lapu, I would ask a favor of you to let me know of one. I seriously need to expand my expat connectons. Thanks, keep your excellent bloggs coming!!

[@danielhackney7806]

Here in southern California if your family income is $4,000 you are POOR. $9,000 you are middle class. My son is very close to $10,000 per month. His 1 bedroom condo is $2,400 per month. Before you say that is expensive he was looking at 1 bedroom's at $3,300 in the same complex. That's why many of my friends have moved out of state. As progressive and liberal as the state is the politician don't give a damn people need a 6 figure income to live middle class life style.

[@vanlivingfreedom3326]

I have seen many folks living in tents on the streets out that way. Only expense is food, alcohol or drug habit. Very cheap living and you can build your own tent and not need to purchase one :)

[@barrymitchell4424]

Ok , but with all that show , how long before you’re robbed?

[@rahmanwang]

Good information. I am just wondering for USD4K-USD8K per month, can't you live comfortably in the US?

[@GUITARTIME2024]

of course, but it depends on your house, what area, etc.

[@daisyapontehavenmemoriestr8552]

What can of question it’s that? 4 to 9 thousand a month. They dummies. People are amazing. Even in USA you can leave decent with 9,000 monthly. But most of people know Philippines and other countries you live like a king with that income

[@timsretirementjourney8323]

I love the Philippines and have a lot of family I miss over there but if I had a $8,000.00 US budget each month the Philippines wouldn't personally be my retirement spot. Even here in Canada a person could choose pretty much the best place in the country and live like a king, and in the US there are places like California, Florida, or pretty much any of the southern states with pretty good climates year round, and a person doesn't have to give up the first world medical care, conveniences, and infrastructures that are still even ahead of BGC which is without a doubt the most first world like place I've seen in the Philippines. Really for a richer American why would they choose the Philippines over a place like Hawaii? Just curious. If the budget is $2,000.00 US a month then becoming an Expat in a more economical country (and the Philippines being as the second language is English makes it more attractive) certainly makes a lot more sense, ... at least to me.

[@kennethboehnen271]

I live in Hawaii and will retire next year with a monthly income, not including savings, of over 10k per month. But still choosing the Philippines or Thailand because it's more fun, especially for single guys.

[@GUITARTIME2024]

Tim, guys want PH because of the women.

[@4040smokey]

Great video. Approximately what would full time live in help cost in a city like Cebu? Thx

[@TheSavvyExpat]

spot on. great video.

[@johnshumate6132]

I wish the homeless animals would get some help. Some animal shelters would be a good idea for people with big incomes.

[@bebetheexplorer624]

Why live in the philippines if you have 5k/month above? I might just as well live in Europe.

[@shep68]

I'll be retiring in the next few years relatively young...56 and SE Asia is on my bucket list since I never got there whilst in the Navy many years ago. I have a Filipino friend at work who is having some condos built on Laguna Lake. He says one of them is open for me whenever I want it. We've never discussed costs if any, but I'll at least offer to pay him some rent. Anyway I'll be in the budget range discussed in this vid so it's nice to hear the possibilities. Of course my fun budget has to account for all my US based debts since I'm not planning to sell and move lock, stock and barrel. But I should have plenty left to enjoy the fruits of PI. Are the power outages really as bad as some describe? Does one need a back up generator on stand by?

[@MrSteven5975]

We don’t have as many outages as before but you should have a cheap one around Incase.

[@Coffewithsteve]

You can spend that kind of budget if you live in Makati

[@superfastmikey]

Who the hell wants to live in markati

[@mromneyobama]

@@superfastmikey Me. I will retire there in Legazpi Village.

[@leonardmarlin4330]

I can honestly say after living here for 16 months that the cost of food, electricity, gasoline, cloths have gone up. Before I came here to live I watched 4 or 5 Vloggers and all were saying come on over the waters fine. You can live on a thousand dollars a month. 50,000 php That was Bull Chit. We tried living on $1,500.00 dollars our first month 75,000 php That was a joke, and by the way we have our house paid for we don't pay rent. Our second month we raised our monthly budget to $2,000 dollars 100,000 php 3 months later we raised our monthly budget to $2,200.00 dollars. 110,000 php July of 2022 This last May we raised our monthly budget to $2,300.00 dollars a month 115,000 php I've gone from saving. Month 1 $2,500.00 dollars Month 2 to 5 $2,000.00 dollars a month. Month 6 to 14 $1,800.00 dollars a month. COLA raise for 2023 $150.00 Savings $1,950.00 a month. Month 15 to 16 1,850.00 We live well we don't go without anything we like to do. But do realize we have to be objective when I turn 70 I have to have money in savings to cover any medical costs I may incurred. Good video Steve.

[@rodleithner7931]

Yep.

[@djcoon707]

i found over 27 yrs ive lived there easy simple life is so cool yes money cool in bank acct for when u need to do stuff

[@comm2531]

Well, if your house ain't paid off by the time you retire, if your car notes are crazy high, or you have a kid in college or if you pay child support or alimony etc...I can see someone struggling at 4k a month here in the states.

[@ariefraiser140]

@@edmhie1 $4000/month is my budget and that includes mortgage plus child support. I live pretty well in a suburb of DC. However the only recurring debt I have is my mortgage. I would start struggling if I had a car note and credit card payments.

[@antoniohardaway6913]

Thank you.

[@MrSteven5975]

Welcome!

[@stevesalkovics6792]

I will bring home, after taxes, about $4500/ month..that is poor in California. After my divorce, I will never be able to buy a house anywhere nearby where I am now. There are only a few, really crappy places in CA that I would be able to live in. If I am forced to relocate why not to a country with so many beautiful sweet women where I could live well and happy ?

[@MrSteven5975]

Correct

[@GUITARTIME2024]

Steve, of you dont have kids nearby, maybe consider other kparts of America too.

[@supermario2201]

What are you guys are going to do when the house of cards of your social security system is coming crushing down? And that,it seems,is not so far off. The dollar in its current form exist now for about 50 years. Before that it was gold backed. Safe to say that with a team in the white house as you currently have there is the strong possibility that it will not last another 50 weeks.

[@Lex-rt7vd]

I too was questioning the stability of the social security system in doing my retirement planning. Search for "andrew biggs from aei" on the Heritage Wealth Planning KZbin channel. That discussion answered a lot of questions for me.

[@jaredkyle5987]

If the social security goes bust just make sure you have enough saved for a ticket back home to the United States 🇺🇸

[@bigbearhugebear9018]

@@Lex-rt7vd Social Security will not go bust...There are many ways to fix it ..They have been cutting SS for years and most people don't even know it but it will not go bust

[@robertangel30]

I have been hearing this BS since I was 14. My grandpa always saying it would go broke. He died at 84 from a heart attack collecting his SS. I pay no mind to It and neither should you.

[@timgnapp7735]

Most likely they will inflation the USD so you will just get less spending power for the dollar. So still may be better over seas

[@Paulnhawes]

My goal is to get my income up to 500 to 1k a day. I already helped my company I work for get to 20k in one day yesterday

[@LAZBY]

how much does it cost in the Philippines for one kid to finish High School and College ???

[@MrSteven5975]

It’s very cheap and depends on the school too

[@GUITARTIME2024]

Bruce, please drop the idea of bringing your high school kid to PH. Let you kid finish high school in America or wherever you are. Don't be a selfish dude. PH isn't going anywhere and and neither are the women and you can't visit for awhile anyway.

[@oahuguy3918]

With a budget of $4K-$8K, you could easily live in Hawaii... or anywhere on this earth... however, the Philippines has one advantage.. the Filipina!

[@MrSteven5975]

And cheaper prices on rentals

[@kevinfogarty5081]

No need for more and more material stuff. I moved to the Philippines to get away from things like that that ultimately don’t make you feel happier anyway. Material stuff does not equate to happiness folks. Just get yourself a nice little apartment for less than 200 bucks a month out in the provinces and put real cozy furniture in it and watch your contentment with life rise over time. It’s a beautiful thing 😀

[@brick793]

Hey man...I watched a lawyer video in the Philippine...he said if you have an "employee" you are responsible for their health care...if they just come by for a few hours of work then no responsibility. Just food for thought in case you were not aware.

[@MrSteven5975]

That’s for regular employees not “Independent Contractors” …… hire Independent Cotractors and have them sign a contract stating so.✌️😜

[@brick793]

@@MrSteven5975 Yes sir...just thought I would mention it...thanks Steve

[@djcoon707]

we splurge on a ya ya for the kids --nanny and a driver with a van its cool

[@tommymccaskill2191]

Good Video Shipmate

[@gizellecrisolo7921]

Hi :)) I’m currently conducting my thesis in grad school about retirement here in the Philippines .Can I have you as one of my respondents please 🙏🏻

[@MrSteven5975]

Contact me at [e-mail] and ask me for my phone number. Let me know if you want my Philippine number or US number.

[@robertangel30]

I can do that.

[@chuck5555]

Thanks for this....

[@78swats]

Steve, can you do a video on some safe investments that will give us monthly income once we are there. This will help people who don’t have SS or pension.

[@MrSteven5975]

I talked about my investments before. I’m not a financial planner and only say what I invest in. Check out my investments in my videos. These are long term but with some risk.

[@78swats]

@@MrSteven5975 Yes, I did watch all your videos. Ark, Tesla etc are not for me because of the risk element. I am looking for some safe investments. I know nothing is absolutely safe, even the bonds. I still have few years before I make the move to PH, and by that time, I want to build a portfolio that will give me stable returns.

[@ariefraiser140]

There really aren't too many "safe" investments that give you a decent monthly income. I guess real estate maybe but that still has risk of tenants not paying...an issue many landlords experienced during the pandemic. Plus it's not passive enough for me so you always have to do some level of work. I am very partial to stock a portfolio of about 50-60% stock ETFs or index funds mixed with 10-15% REITS (Real estate investment trusts) the rest bonds and about 1 or 2 year's living expenses in cash. Assuming you want to live off $2000 a month or $24000 annually and you follow the 4% withdrawal rule you will need a portfolio of about $600,000 to do this. That portfolio should last at least 30 years and likely the rest of your life. One more thing. I'm big on multiple streams of income so I would advocate doing something in retirement that will bring in a little bit of cash but isn't too stressful or time consuming. Bringing in as little as $250-500 a month is huge in the Philippines and helps tremendously in case of a market downturn. Steve and his KZbin channel is a great example. There isn't really any such thing as a safe investement that provides a good return. Just looking at how ROI works tells you the higher the return the riskier the investment.

[@fendermon]

Dividend etf's are rock solid. DGRO, SCHD, VYM, VIG are as solid as investments come, and ultra low fees. I wouldn't loose any sleep if all my funds were in any one of those, let alone a mix of them. The initial yield is around 2% which scares many off, but it grows with time. Dividend raises are the norm with these funds, and a quick peek on Morningstar will show you the high quality companies in them. I would buy some mix of them to protect from the extreme oddball chance that the fund providers (Blackrock, Schwab, Vanguard) collapsed. Just my opinion @Russell

[@johngaudio267]

There is no better use for money than to "waste" it on women.

[@fendermon]

A womens gotta eat :)

[@delawaresurf5422]

More people than u think can get these numbers between 401ks, ss, dividends, house rentals etc

[@MrSteven5975]

I talk to quite a few weekly here. I’m at the bottom of that range and will be in the middle at some point. But I rather help than spend it on myself. I don’t need a luxury life.

[@delawaresurf5422]

@@MrSteven5975 me too.

[@joekano1768]

It's nice not having to be a youtuber. 😉

[@MrSteven5975]

For me it’s a hobby and I enjoy it luckily. Fortunately I don’t have to live on it.

[@joekano1768]

@@MrSteven5975 It shows. 👍 Hope to get your way after my SRRV gets straightened out. Encouraging conversation with a big cheese today. 🙂

[@mela6046]

LIVING RICHLY does NOT mean I have to SPEND A LOT OF $MONEY$ TO LIVE A " RICH LIFE" ...btw, I live happily, & rich life right now, & BTW none of it involves paying HIGHEST costs, (IT'S IRRELEVANT) ...In fact the more expensive rating a place is ..ends up being the WORST in my experience ( restaurants...lol...relais & chateaux..lol..cars...lol...a waste & horror at times...I found a hole in the wall BBQ spot & they end up being the best of the best & the top hotels in the book end up being hell on earth etc....)