Why not doing a video assuming you have a monthly budget to spend of 6K, how would you spend it?
@mikesphilippineretirement9 ай бұрын
why with 6,000 USD a month you can live anyway you want
@GeecheeLionsJourney9 ай бұрын
@mikesphilippineretirement Right Mike, that would be a frigging waste of time to do a video on how the Rich should spend money 💰
@kingmaafa1209 ай бұрын
Wisely 😅
@barryram26059 ай бұрын
@@mikesphilippineretirement Well, maybe, maybe not. In Manila or other big place you might blend in, in the province, maybe you'll have an issue spending that much, or anyway attract too much attention. Maybe if you have a large budget it might even be better to choose a different country. Anyways, interesting stuff, keep it up.
@Charles-ix5jc9 ай бұрын
You can just assume that you'd be living great on 6k mom depending on YOUR if you're a younger partier you you could rip through 6k just with the women!
@Da1nOnlyPigsta9 ай бұрын
I looked into the Health Insurance on offer here to Expats and was told that my Pre-existing conditions would most like be challenged if I made a claim, so I saved my money and never bothered. No one gets out alive and I am good with that. That's life.
@mikesphilippineretirement9 ай бұрын
thanks for sharing
@-goldfinger26959 ай бұрын
Check with Pacific Cross, they may exclude for 1 year pre existing conditions , after that , your insured. Also accidents happen , emergencies are covered. Premiums are under $200 usd a month . 👍❤️
@-goldfinger26959 ай бұрын
Insurance from Pacific Cross is under $200 usd / mo. Full coverage for over age 65 years old
@keithadams23689 ай бұрын
@@-goldfinger2695Thats good to know!
@gratitudetouniverse37549 ай бұрын
@@-goldfinger2695 Hello. Could you provide the website or contact information for Pacific Cross ? We are looking to retire in the philippines soon. I appreciate it Thanks.
@artbrutnewyork9 ай бұрын
Good overview. One thing regarding surviving on canned food staples like Spam, beans, canned meats and fish , etc is to be careful of the high sodium levels that could negatively impact health.
@mikesphilippineretirement9 ай бұрын
yes it could and will
@edwardnull54479 ай бұрын
Any processed food is killing you!!!!
@mikesphilippineretirement9 ай бұрын
everything is slowly killing me
@marianeil66309 ай бұрын
Hypertension and heart attack
@alcantwell4 ай бұрын
Here in Mexico, you can buy chicken breasts for cheaper than SPAM.
@hnorthcutt34 минут бұрын
I've been watching KZbin videos from half dozen different sources learning as much as possible about what I hope to become my future home and this video was one of the most sincere and informative videos I've seen. Salamat po Mike great job..
@Mikeyyyy_L9 ай бұрын
Quick answer: “It Depends”. Longer answer. What kind of lifestyle? Eat out daily, dating, are you healthy, single guy or have a Filipina g/f, do you want to travel or just stay local
@mikesphilippineretirement9 ай бұрын
so true. it depends on your lifestyle
@willydear49069 ай бұрын
I live in Dumaguete on 1,300 dollars per month comfortably. Living close to Ayala like you do would add 35 to 40 percent. I moved to the Philippines 8 years ago and started by Living in Lapu-lapu my budget was 750 per month. I say if someone can live cheap in their home country they can live cheap in the Philippines. My military retirement covers my living expenses so social security is a bonus. Amping.
@mikesphilippineretirement9 ай бұрын
thank you for sharing
@Charles-ix5jc9 ай бұрын
I've been here almost 2 years and i can see the prices going up! Groceries!
@tomasr.5339 ай бұрын
I’ve been married to a Filipina. I can tell you, the healthcare is cheap at the public hospital in the Philippines, but you often get what you pay for. If you get a serious illness and you want to live, you probably do not want to use a public hospital. It was very eye opening after a brother in law was feeling very sick and went to a hospital, they diagnosed him with dual kidney failure. They proceeded to roll him out to the hallway and left him there for 2 days. Unattended with dual kidney failure for two days. We found that out and had him sent him to a different hospital about an hour away. That hospital was better, but then every time he went to go through dialysis he would get deathly ill. I figured it had to be that the dialysis equipment wasn’t being cleaned properly. I had my wife tell them that if they don’t clean the equipment properly we would sue them. That seemed to do the trick as he stopped having problems with dialysis after that. But then, he became anemic and needed blood. It was the family’s responsibility to obtain the blood. And they had to pay as they go to replace the equipment in the hospital. Getting blood during the pandemic was not easy. First, the donor had to be above a certain weight and 2nd, the bro-in-law was type A blood and the kidney “expert” doctor at the hospital had never been taught that other types of blood, such as O+ could be used for his blood transfusions! So the doctor refused to allow any blood donators that were not type A. Just problem after problem. Hearing the bro screaming from infections he eventually contracted, was sad. He eventually died. The moral of the story is use the private hospitals for serious issues, even if they are more expensive. I believe he was 35 when he died.
@tomasr.5339 ай бұрын
Don’t get me wrong. I love the Philippines. We plan on moving there in the future, just realize you may need more money than you think.
@mikesphilippineretirement9 ай бұрын
have money for private hospital
@sunshinedream989 ай бұрын
Don’t look after anyone except yourself your wife and your children and you will be just fine. Remember the wife’s family are expert in you only ever seeing them laugh and joke and being friendly and helpful. What you don’t see and 99.9% of wives hide from you is the pure hell and abuse they are subjected to by their family the constant pressure they are subjected to in order to get your money. Remember if you want to be popular or liked that’s fine but don’t buy it. If you want to be the “High Roller” then fine but remember your wasting your money that you may well need for your own family health concerns in the future.
@rodleithner79313 ай бұрын
Great info. I know most low income guys do not do this. However those who can this really sets a fellow much better. Anyone wanting to retire in the P.I. should have no less than $15000.00 free and clear in the bank. $5000.00 to get set up in the P.I. $10000.00 EMERGANCY !!!!!!!!!!! Also $1200.00 Min. SSN. $2000.00--$3000.00 Good life $4500.00 Fantastic life. Anymore your spending to much.
@murrayspiffy28159 ай бұрын
Don't knock Spam too much - you don't have to eat a whole can in one meal. Chopped up Spam and eggs and toast is a good meal - and would cost you around $1.20 per meal.
@mikesphilippineretirement9 ай бұрын
we enjoy spam once a month it is ok
@JohnArmwood9 ай бұрын
This is an excellent video, the best I have seen on budgeting in the Philippines in the two years I have been watching KZbin videos on expat life in the Phillippines. You demonstrated clearly in this video that I could live on a $1500.00 monthly budget but I would not have the reserves for emergencies. With healthcare costs and subsidized senior living, it is for me it is cheaper to live in the United States, especially with my preexisting healthcare costs. Thank you very much. Obviously, you are trained in the financial services industry. You have done us all a favor and saved many of us from future suffering.
@mikesphilippineretirement9 ай бұрын
thank you John for sharing
@brent24389 ай бұрын
Spam is $4.00 in the states also. Here in the states, I spend about $500 minimum a month for food and household supplies. The biggest savings in the PI, is rent and transportation.
@danielhackney78069 ай бұрын
I'm with you Brent, I really only see savings in rents, But with my rent at $2,100 a month that's going to be a big savings. Also I pay $250 a month for cable, so I assume I will save on that too.
@mikesphilippineretirement9 ай бұрын
rent is the by far the largest saving compared to the US
@davidkern89549 ай бұрын
I m living here in metro Manila 11 years now.
@mikesphilippineretirement9 ай бұрын
How do you like it and so many changes over the years
@glidden67Ай бұрын
I will visiting Manila this September my first time very excited.
@timg54639 ай бұрын
I live well in Thailand a few blocks from a beach in a one-bedroom condo on 1558.00 per month and I live well. I sometimes run a budgeting experiment and see how much it costs me to live with no frills but have all the necessities. It costs about 850 a month with no suffering and many restaurant meals included. Of course, rent is cheaper in Thailand for far better values than housing in PH. I lived 18 months in PH and finally had enough of that disaster of a country and moved to Thailand. It is night and day. I also pay a bit over 2k USD per year for top-notch medical insurance at first-class medical facilities. PH has more desperate and available women and that is the only advantage for retired expats. My internet for 400 to 600 Mbps at home is about 120 per year.
@mikesphilippineretirement9 ай бұрын
Thanks for sharing
@RealGaryGibson9 ай бұрын
Thailand makes up for it with the high cost of a retirement visa.
@ricke68549 ай бұрын
That $200 usd health insurance is for what age ?
@timg54639 ай бұрын
@@RealGaryGibson the bank deposit is expensive. The visas are not unless you opt for the elite visa. The bank deposit is your money and you can take it out.
@timg54639 ай бұрын
@@ricke6854 most insurance must be purchased before age 65. I am now 67 and I can keep insurance until age 99. Every five years the policy cost does increase. There are many options and many western insurance brokers who can show you more plans and options than you want to see.
@bigdog43428 ай бұрын
No one seems to include Prescription and OTC Meds and Supplements. Since most Foreigners here are Older, that ads up quickly. I pay an average of $200 per month which usually includes Blood Lab Tests once or twice a year. Plus I pay about $350 a year for PhilHealth Govt. Insurance as Catastrophic Coverage, but mostly so can get into a Hospital if I need to on an emergency situation since it is Pay As You Go here in Philippines.
@charlesbronson52359 ай бұрын
SPAM is $6 and $7 a can here. I loved Argentina Corned Beef with rice and eggs regularly as it’s quick and easy.
@mikesphilippineretirement9 ай бұрын
I have not tried Argentina Corned Beef
@charlesbronson52359 ай бұрын
@@mikesphilippineretirement wow 😮 really? Janet don’t make it, fry up some onions and garlic and diced small potatoes add Argentina corned beef and scrabbled egg on top like a Torte.
@mikesphilippineretirement9 ай бұрын
will give it a try
@koufax1749 ай бұрын
You’re a class act Mike. Your heart is visible by how much you help us all. Making a move to live abroad is a huge undertaking on every level. Your efforts he’ll provide the potential for a softer landing, if people listen to you. Keep up the great work 🙏🏼
@mikesphilippineretirement9 ай бұрын
Thank you Kofax
@worldlydestinations9 ай бұрын
Ok Mike my monthly expenses for me and my wife here on Siargao Island runs between $1200 to $1400 a month and we never spend more than that and live a great lifestyle. It all depends on the person or couple as to what you spend. I will add that we only drink occasionally so that’s a big extra expense if you like to Party Every Day! But for Cebu where I began I spent about $1800 a month pre covid
@burtonknows92019 ай бұрын
My hope is that the U.S. Congress passes legislation that repeals the Windfall Elimination Provision (WEP) for government workers who collect Social Security and belong to local/state government pensions that didn't contribute to SS. Assuming I retire at age 70, the maximum age for Social Security, I'll get $1760 mth. With the WEP, I could lose up to 50% of my monthly SS check. The $4613 forecasted monthly income assumes the 50% SS cut. My biggest concern is healthcare insurance. I currently have no medical conditions that require constant medical attention (occasional gout attack).
@mikesphilippineretirement9 ай бұрын
Thabks for sharing
@shb7772000if9 ай бұрын
I rent a 2 bedroom house, 5 minutes from walking street in Angeles, and pay P9,000 a month.
@mikesphilippineretirement9 ай бұрын
love to see photos of the house
@shb7772000if9 ай бұрын
@@mikesphilippineretirementI'd love to see a picture of your wife.
@mikesphilippineretirement9 ай бұрын
on my face book
@keonesilva36469 ай бұрын
I just found your channel & love it. I live in Hawaii on Big Island and thinking about coming to visit. I live ok here on $2000 SS check but I own a small home so no rent. I live off grid no utility bills. Water is free because I use rainwater. I am used to cooking like province people on wood. I bathe like they do with bucket and dipper. Been here 20 years and ready for a new adventure but visiting first of course. Aloha 😊
@mikesphilippineretirement9 ай бұрын
Have fun!
@gilbertgarrido2979 ай бұрын
Yes one can live comfortably in Ph with only SS pension, $1,300.
@mikesphilippineretirement9 ай бұрын
I need more than 1300 to be comfortable
@gilbertgarrido2979 ай бұрын
@@mikesphilippineretirement Cause you’re married
@acaciomadeira51479 ай бұрын
Beans are really healthy I buy my freind about 20 kilos of beans between 3 people . Elegant for diabetics diet low glycemic full of protein and other nutrients and good fiber content
@mikesphilippineretirement9 ай бұрын
what about steak and beans? is that any good for you
@acaciomadeira51479 ай бұрын
Sure I would think so doesn't matter if their canned stilled nuticous and meat adds more protein to your meal
@jayyaj71978 ай бұрын
Guarded and gated subdivision fully furnished 13000 peso a month walking distance to mall (7 min), gym (15 min), and hospital (20 min).
@mikesphilippineretirement8 ай бұрын
thanks for sharing
@EdwinCV-dh8qc9 ай бұрын
Great info ,very realistic there is a bill in Congress that may bring Midicare to Americas but it has not passed yet.Please tell everyone to text or call to there congressman in there state
@mikesphilippineretirement9 ай бұрын
hope they read this
@GeecheeLionsJourney9 ай бұрын
@mikesphilippineretirement I lobbied congress last January for Medicare for expats being available. Didn't get much support. Needed more expats and retirees writing letters and making calls backing me up.
@benpradhan96259 ай бұрын
mike - given the option, do you think it’s cheaper to build a house in the long run? Could probably save on food if there was a small vegetable garden too (for those who actually like to garden)
@mikesphilippineretirement9 ай бұрын
depends on your age and total cost to build...tough question
@gerbourke19529 ай бұрын
@@mikesphilippineretirement we crossed swords before Mike but I can really truthfully answer Ben's question here. Ben, yes you can save money. You can live for an extremely small amount.....
@redpillsatori30209 ай бұрын
I don't think it's worth it. Foreigners cannot own land, and it's too east to get scammed. You're better off saving your money, investing it in something else in your home country, and just rent in the Phil
@redpillsatori30209 ай бұрын
@@JOEJOSEPHHones ..if you're at Death's door, and just want to build a house to leave for a Pinay, then yeah--why not build a house? Other than that, I don't think it's worth it
@richardhowe55839 ай бұрын
@@JOEJOSEPHHonesafter a year or two you are not even a thought in America or the Philippines 😮
@utubenewb12659 ай бұрын
This is a better budget video than some because you are breaking down for the people what you have to accept and give up to be on a budget. The "canned meat", excellent. You didn't mention the 3 in 1 coffee though!! It is kind of the same here in the US though. I know people that are always broke, worried they will miss meals, etc. But they won't buy the cheaper food, and they won't cook from scratch, they'd never buy canned meat. They buy individual portion everything. They would never make soup boiling the left over baked chicken, and 50¢ of noodles, veggies, and spices. Or make chicken salad from chicken they cooked. Good food can be cheaper. The other thing is going out, or getting a cheaper hobby at home. I have seen multiple bloggers show lower middle class apartments, concrete, tile, running water, electric, small, old, for 3500-6000 peso though. So $100rent can be had in Angeles, and some other non-slum lower middle class neighborhoods. It's good you mentioned the "safety net" goes away. Many people don't realize how much that costs to replace each month. The problem for most poorer expats is discipline. Can a person be a home body, cook at home, find cheap hobbies, watch tv and enjoy a cheaper stable life in the Philippines on $1,000? Yeah. But will they? Nope!! If people had discipline in the USA they probably wouldn't be retiring on only $1,000/month!!
@mikesphilippineretirement9 ай бұрын
well said
@dumaguetedreaming9 ай бұрын
Yes spending discipline is a high value trait if you're going to survive overseas. I love my 3 in 1 coffee.
@dumaguetedreaming9 ай бұрын
I feel your pain. I remember 2007 prices, unfortunately.
@1307scooter8 ай бұрын
I am coming in May and get $1450/mo and coming with about $15k, out of that I am going to buy airfare, scooter and about 15 balikbayan boxes. I am looking to live in Valencia and am looking to live outside of town.
@bigmikessenioradventures9 ай бұрын
I'm not sure where you guys live or the prices there but I live by the beach in a nice quiet house only $200. I have a great resourceful lady and I don't drink or need the US lifestyle with US corporate restaurants etc., if I liked those I would have stayed in the US! Too many foreigners come here and try to live like they are in the "States". Embrace the Philippines with its great culture and foods. If you come here and cry about it here, maybe better to go back to your country. I live quite nice with my wife, daughter and malinois dogs. on $700 a month and bank the remainder of my SS. We shop at local markets and eat well (helps to have a great cook in the house).
@mikesphilippineretirement9 ай бұрын
Living a good life for yourself
@brucekenworthy67315 ай бұрын
what beach?
@bigmikessenioradventures5 ай бұрын
@@brucekenworthy6731 I prefer to keep it private, but it’s Northern luzpn
@user-er9rb8rg2i9 ай бұрын
My budget is 3k month.my rent is $600 a month nice condo near Ayala all in elect water cable, $300-$400 a month food immigration about $300 a month, = $1300 a month, happy ending 2-3 times a month add another $100, you don't need a car or motor you can walk anywhere in about 30 min,
@mikesphilippineretirement9 ай бұрын
happy endings 2-3 times a month . Your arm must get tired..hahaha
@user-er9rb8rg2i9 ай бұрын
@@mikesphilippineretirement you are correct i Have slowed down at 71,
@jesslocaine61528 ай бұрын
Well said Mike.
@mikesphilippineretirement8 ай бұрын
Thank you
@robertmorison31376 ай бұрын
I have been here for 20 years same women. One thing I find odd about all bloggers is none of them talk about hobbies i.e. golf tennis as I need something to do besides watching youtube and hanging out chopping it up in the coffee shop with foreigners.I live in CDO and golf membership is about 1500 usd a year for the country club. If your going to live in the province you better have a hobby unless you are prepared to live a pretty boring life. have a plan for what you want to do besides hanging with your significant other. traveling is great if you have money. diving and snorkeling are outstanding
@danross-cv5ju9 ай бұрын
Mike, good info. I recently spent a month in CDO visiting a woman I had met and plan to go back in April for another month before moving there permanently next summer. We looked at very nice homes to rent in outlying gated communities in the P35,000 range. I feel we could live very comfortably on a budget of $2,000 - $2,500 a month and still have plenty of disposable income for savings and travel. Because CDO does not seem to be a popular expat destination, prices there seem very reasonable.
@mikesphilippineretirement9 ай бұрын
your Budget is 500 higher than mine and we are family of 3...as for your rental home your can get same or for less in Dumaguete fully furnished. Has nothing to do with to many or to few expats
@danross-cv5ju9 ай бұрын
@@mikesphilippineretirement we would be a family of three (her older sister would live with us - she works full time at the church they attend) and some times four (one of her nieces who is attending college would stay with us off and on). Reason for looking for a 3 bedroom/2 bath (preferably fully furnished) or larger depending on what we find that we like and where it’s located. Transportation costs would be higher than normal to take into account for taxi cost (I may buy a motorbike but really don’t want to buy a car). Because all her family members live in CDO other than an older sister who lives in Manila, we would stay in CDO.
@mikesphilippineretirement9 ай бұрын
thanks for sharing
@itsmeforever9 ай бұрын
Hi dan just make sure you want to sell all things before you move maybe keep things in the states, the Philippines has changed and spam i paid 1.36 for a can at walmart my sister paid 4.50 for same can in the Philippines. Costs increased there.
@briancasteel80259 ай бұрын
I enjoy going there. We have family there... I love Bokidnen
@joebidet20509 ай бұрын
It's enuff Millions of Filipinos live on 10000 pesos a month (200 bucks)
@mikesphilippineretirement9 ай бұрын
you could not live that way...and why would you
@joebidet20509 ай бұрын
@@mikesphilippineretirement where I live now I only spend 300 dollars or so a month But I own the house and it's much less expensive than the philippines And the women are Overweight homely miserable and Muslim so not having to feed one also saves me $$
@petesrules15089 ай бұрын
Look at it this way, 20 years ago at Gaisano supermarket, we could buy 4 trolleys full of groceries PLUS a 25 kilogram bag of rice was just over 4,000 pesos a month. Yesterday we went shopping at Robertsons supermarket we bought one trolley with a 3 kilos of meat, 5kg rice and a few other items cost 4,600 pesos. And lets not talk about electricity running those aircons 24/7. And petrol has tripled in price over 20 years. Lets face it, a wife and 2 kids prepare to have a budget of a minimum $3,000 a month and thats bare minimum. Our buget for 2 adults 2 teenage kids plus a stepgrandchild is 1 million pesos a year.
@redpillsatori30209 ай бұрын
Yes. Agreed. I'm surprised that Mike says his electric is only 4k a month. Pro Tip: Get the split-inverted type aircon--it's way more efficient and pays for itself in a year
@mikesphilippineretirement9 ай бұрын
elect bill in Dumaguete is about 3800 a month...cebu is was 3300 last month
@rayklein11259 ай бұрын
2000 aussie dollars a month is plenty here in Siquijor.
@mikesphilippineretirement9 ай бұрын
thanks for sharing that info
@winduncan98187 ай бұрын
I think it really depends where your at in life. Are you in the planning stage or are you finished working, have $1200 a month in SS, looking at a trailer park in the US or figuring a way out to make it work abroad. If still planning I'd try to have a "Western" budget to fall back on in the West. But if I have a fixed amount of money and limited time I'm looking at where can I make the most of what I have and that's certainly not the US. However, I find both Thailand and Colombia cheaper than the PI.
@robertmorison31376 ай бұрын
thailand is not a lot cheaper but better food and infrastructure but beware of the women not to say they are safe in PI either . If you go for columbia learn spanish and stay away from medellin. lived all 3
@billyjohnson91669 ай бұрын
Did you see Charlie munger warren buffets partner passed away? One of the best in the investment world. Hopefully people save money so they have a back up plan. Like dividend paying stocks. Social security alone is not enough.
@mikesphilippineretirement9 ай бұрын
No I did not know he died
@chuck91128 ай бұрын
Did you ever hear of The wet market? Fish rice vegetables chicken etc much cheaper than the supermarket. We have outdoor restaurants and you can get a plate for 120P Breakfast with Longganisa egg and garlic fried rice for 70 or 80P
@mikesphilippineretirement7 ай бұрын
Interesting!
@Charles-ix5jc9 ай бұрын
I'm in a two bedroom small home old not that well insulated. I run it most of the day. between 4-5000 a month. 300 M internet with globe is about p2,000.
@mikesphilippineretirement9 ай бұрын
thanks for sharing that info
@manunuod_ako17668 ай бұрын
You have know how to budget. Best way is know how to cook. If you don't know how to cook look for an eatery (karinderiya). In the rural areas, they mostly do not have western style restaurants. If you are in a citified area you may have choices in food. In the supermarkets you can get most of the common spices.
@chuck91128 ай бұрын
FYI you can get Medicare even if you are here in the Philippines
@fightinspirit9 ай бұрын
I'm finishing up my first year in the Phils. I'm 67 and living on a modest SS retirement. I met a beautiful Filipina woman 24 years my junior and we couldn't be happier together. I travel back to the US once or twice a year for friends and family, but I can tell you for a fact that I like living in the Phils better than the US.
@mikesphilippineretirement9 ай бұрын
That is awesome!
@agooyong62078 ай бұрын
24 years younger? I bet you cannot do that in USA unless it's a hooker, I just hope you help her and family financially, for sure this young girl will not hook up with you if she's above average income earner with a stable job, just think of the equation, some foreigners come here pick up a younger partner without giving something in return (money).
@fightinspirit8 ай бұрын
@@agooyong6207 she keeps reminding me that age is just a number. She really is right you know! I think you'd find most women here in the Philippines, have a far more basic and realistic view of relationships then women in the west. As far as family support goes, it was something we discussed before we ever got together. I wanted to make sure we had a complete understanding regarding family support etc. Both of her parents are gone, her brothers and sisters are doing fine on their own, she does have two older kids, one in college, one in high school graduating, and I do provide some help to the kids from time to time. It isn't required, I do it because I care about her, and I've come to care deeply about the kids as well. In any case, our relationship is doing great. We've been living together for over a year now, and have known each other for about a year and a half. We're making plans for the future, and discussing the possibility of marriage. No rush!
@mike-ulove2travel9 ай бұрын
Hey Mike, Mike here. I would say living in the province would better for saving money and grow your own vegetables.
@mikesphilippineretirement9 ай бұрын
yes I agree but you need land to grow your own.
@philipjanek38649 ай бұрын
💯 correct if you can live in the USA on your check you can live in SE Asia on that money Better okay 👌👍
@mikesphilippineretirement9 ай бұрын
yes I agree with that
@ricksdestinationcebu9 ай бұрын
I believe the fact is your budget is what it is no matter the location,,cost to exist in America at poverty level is 3500 net a month..So I would have to imagine Philippines has to be a bettwr option,,,rent here is 800 a month for 1 bedroom near Cincinnati,,,electric 250 a month,, food and gasoline 1000 a month,propane 60 a month,,
@mikesphilippineretirement9 ай бұрын
thanks for sharing
@JustJhoanne9 ай бұрын
Haha love the thumbnail 💯💯💯
@mikesphilippineretirement9 ай бұрын
hahaha thanks
@jerrymarshall27289 ай бұрын
Mike’s getting more creative with his thumbnails, Jho 😂🤣
@51dbail9 ай бұрын
Spam now is 218php.
@JustJhoanne9 ай бұрын
@@jerrymarshall2728 haha he did say that, he’s getting there 😆
@JustJhoanne9 ай бұрын
@@51dbail love spam but yeah bit expensive and too salty w/o rice 😂
@williamwashington32569 ай бұрын
Im living on Social Security and Pension as long as you spend wisely you can live ok I spend about $1200 a month for everything I take a vacation every 3 months mostly here and I have health insurance also monthly payment
@mikesphilippineretirement9 ай бұрын
i could not live on that. but happy you can
@williamwashington32569 ай бұрын
@@mikesphilippineretirement yes that's my budget but I save the rest of my check Mike it's only a part of it 👌
@auroraalmeida31849 ай бұрын
Maybe if it’s not too hot to save money on electric bills don’t turn on the aircon, use the fan instead.
@mikesphilippineretirement9 ай бұрын
I need my aircon
@Rick4219 ай бұрын
when I was in Basay Negros Oriental back in March 2023.. met a retired guy from Belgium he was married to a Filipina.. he showed me his house.. 2 bedroom.. It was a simple house.. but it wasn't bad., he paid $75.00 a month.. . 😁😁
@mikesphilippineretirement9 ай бұрын
look hard and find a deal. it is possible to find cheap rent far from the main cities
@user-cg1gy8rd2q6 ай бұрын
Hello Mike you said something that i never heard before,, its paying fees on your visa, People who wish to retire there in the Philippines🇵🇭 should never use there whole retire salary to measure if there have budget to live there,, You are detailed in yoyr video, thanks Mike 😊
@murrayspiffy28159 ай бұрын
I've live in Mactan Newtown for a year now. My SSI is $1,305 a month - and I use every penny. I live in a luxury corner studio condo -with a balcony overlooking the pool. The Grocery store is downstairs. Everything I need is within a healthy walking distance. I've got a LBFM that lives with me. We can eat at McDonalds for 200 pesos between the two of us. We splurge on a nice restaurant meal twice a month. We spend 5,000 pesos a week on food - 32,000 pesos a month for rent-internet-electricity-water. You have to watch every penny - but it's a 100x better life than back in the US.
@mikesphilippineretirement9 ай бұрын
Janet and I get the double cheese burger meal at McDonalds small drink and small fry it was 450 peso ...watch your penny's but enjoy your live
@murrayspiffy28159 ай бұрын
Senior discount is 20% - could be paying 360. For example - 2 Krispy McChicken Sandwiches' - two regular fries - two regular drinks - with a senior discount = 170 pesos - or $3.07 for two people for a decent meal.
@sentinel809 ай бұрын
@murry quite disgusting calling your GF a LBFM 🤔🙄
@davidssunstar9 ай бұрын
I lived there 8 months last year and it was great. Your budget to me is really accurate. Dating, If you're single..It's going to cost you sometimes but it's worth it. I would add an extra $500 for dating...
@mikesphilippineretirement9 ай бұрын
thanks for sharing David
@gailmaplesden73809 ай бұрын
The other cost is health insurance which is something everyone should have and you should be sticking away a little bit each month for an emergency fund. This is beyond your other budget concerns.
@mikesphilippineretirement9 ай бұрын
yes i talked about that later in the video..I put away 300USD a monthfor health care
@ericpohl25129 ай бұрын
Another excellent video Mike. Thanks.
@mikesphilippineretirement9 ай бұрын
Glad you enjoyed it
@ehime4u29 ай бұрын
Good advice all around.
@mikesphilippineretirement9 ай бұрын
Glad you think so!
@nasserdeeb45649 ай бұрын
Good informative infomation
@mikesphilippineretirement9 ай бұрын
Thanks
@andywella42867 ай бұрын
Do you have any updates on frisbee the hobgoblin??
@ronaldtaylor45309 ай бұрын
Great video Mike. You lay it bare for newbies to see and consider their options. Power to Janet and yourself.
@mikesphilippineretirement9 ай бұрын
Thanks 👍
@davidwright56196 ай бұрын
Hello ty for the information. You mentioned travel and the cost range from 1500 to 3k. Just confirming. Is that for two people? Hoping to come to the PI soon.
@lazylarrylee24219 ай бұрын
Great information
@mikesphilippineretirement9 ай бұрын
thank you LLL
@robertputt77949 ай бұрын
Thanks Mike!😊❤👍👍
@mikesphilippineretirement9 ай бұрын
Your welcome
@danielhackney78069 ай бұрын
I guess as long as I can live on $2,500 a month or less as a single guy I'm good. I also have a a nice 401K that's available if needed. Although I would prefer to keep most of that 401K money for my kids when I kick it. That way they both will have a nice down payment for houses which are a million bucks on average where they live in California. Unless the housing crash ever happens as some predict, the last crash in 2008 housing dropped 50% by it's peak in 2011. The condo I rent dropped 65% in value by 2011 to $100K now in 2023 they sell for $425K.
@murrayspiffy28159 ай бұрын
I live on $1,305 - if I had access to $2,500 - I would live so well - that it would be mind boggling.
@mikesphilippineretirement9 ай бұрын
thanks for the info
@TiminBaguio9 ай бұрын
I’m lucky I like local food at eateries like food net and others that are everywhere here. Good meals $2-$3. I don’t eat breakfast though. A few times a week I get great pizza (love WhyNot pizza!) or Chinese, Sushi etc. usually $4-$10 per nice meal. I eat well! Bought a nice motorbike and spend $30/month on gas. Just moved into nice clean 2 bedroom house with hot shower, separate living room with big tv and separate dining room for $220 10-15 minutes from the Boulevard. Rent Includes high speed internet. With other minor expenses $600-$700 total for basic needs. Unlimited golf for $200/month plus $5 a round for caddy for those so inclined. Other entertainment, drinking, dating is WAY cheaper than the states. Health insurance is up to you of course. I would suggest you save at least 30% of your monthly income. So yeah, $1200 is OK for a single person who spends wisely and saves a few hundred as well. More is always better, duh! Probably $1500 for a couple. At least in the province in and around small cities like Dumaguete. These islands are full of such places! Some spend a little less and are still happy while others require much more! To each their own…..
@mikesphilippineretirement9 ай бұрын
what golf course?
@TiminBaguio9 ай бұрын
@@mikesphilippineretirement Bravo golf and hotel
@JP679 ай бұрын
What area is this in.Sounds good.Also interested in the golf.Thanks
@TiminBaguio9 ай бұрын
@@JP67 Sibulan just off diversion road which is convenient for travel. Bravo golf course is 10 minutes travel. I think about 1400 pesos for a round includes caddy fee. Or 10500 monthly unlimited plus @ 300 for caddy each time. I just recently visited there to get this info
@4abetteru9 ай бұрын
Tim, is the golf deal through Golf PH?
@owenstephenhardy69499 ай бұрын
The problem with the tinned stuff is its so sweet .I tried the beans could not eat them just way to much sugar 😮
@mikesphilippineretirement9 ай бұрын
yes they like it sweet here
@ricke68549 ай бұрын
Loaded with sodium as well
@robertriebel80649 ай бұрын
Funny thing is some of the Pinay's have a larger income, they're sponsored up with multiple guys - many have guys that never met them sending cash via Western Union. Had a girl I met in BGC, she'd buy me coffee several times a week after we walked back from the W/U - even texting them while with me in a coffee shop 😅.
@redpillsatori30209 ай бұрын
Yes, in this current age of social media and OnlyFans, this is sadly the norm. It's a popular side hustle, and lots of Pinay are doing this now. Don't ever send a pinay money you have never met--it's not worth it
@mikesphilippineretirement9 ай бұрын
I do know about that
@Traveling-boomer9 ай бұрын
So, in your opinion, what would you suggest would be a good dollar figure to have in your emergency fund or nest? What large amount of money would you think would create a good buffer?
@mikesphilippineretirement9 ай бұрын
20k usd
@johnclark14699 ай бұрын
Mike When giving cost breakdowns you use to list these on screen as you spoke which was much easier to follow. Just stating numbers one after the other - hard to keep a running tally. We know what you look like - use the screen to show what your talking about like before. I k it takes more editing time but helps allot -I guess im spoiled from prior videos. still Good to k the individual numbers in dollars you ran thu. Showing the insurance cost list was nice. thanks! John
@mikesphilippineretirement9 ай бұрын
that video is still posted to see
@EdwinCV-dh8qc9 ай бұрын
The bill if it passes,will be for a 10 year probationary period.
@mikesphilippineretirement9 ай бұрын
the Medicare bill?
@redpillsatori30209 ай бұрын
Here's my budget in Luzon (in USD): Rent 155 Food 600 Internet 50 Electric 140 Visa 30 Savings 100 Misc 50 Eating out 100 Transportation 30 Total ==> $1255 USD With the exception of food, this is the bare minimum, where you are not helping or paying a lot for a girl and her family. So $1000 is the bare min you need to live here, and I would not go any lower than that.
@ronaldtaylor45309 ай бұрын
Where’s the bear? 😂
@redpillsatori30209 ай бұрын
@@ronaldtaylor4530 ..fixed it
@mikesphilippineretirement9 ай бұрын
thanks for sharing and fixing the bear..hahaha
@boink8009 ай бұрын
$600 for food? Are you eating caviar every day?
@murrayspiffy28159 ай бұрын
I live on $1,305 it would be really hard to live on less than that - unless you live in the Province - but living in the Province is like Colonel Kurtz.
@user-gw8ce8ig3i9 ай бұрын
Thanks Mike.
@mikesphilippineretirement9 ай бұрын
welcome!
@csquared77599 ай бұрын
Good post,
@1gx6198 ай бұрын
So about $3k a month for happy life and a wife? Hell, that’s what I pay where I’m at right now! Doesn’t seem like too great of a deal🤷♂️ But damn them Filipina women sure do look BEAUTIFUL!
@mikesphilippineretirement8 ай бұрын
you get more bang for your buck here
@ligayaannawi47799 ай бұрын
You can live on 1,000 usd and still save a little money if you will eat what the locals live and live the way they do.
@mikesphilippineretirement9 ай бұрын
That is something most older retired men do not want to do..
@SimplyDayang8 ай бұрын
Hello sir, I am writing to you about how you keep your social security payment in the Philippines. Do you report a travel status? My bf is also retiring here but we are still confused if the social security payments continue even no longer visiting US? We read that it might stop after 6 months of not in the US.
@user-rt7nn3yy5l7 ай бұрын
hi simply dayang..as my experience social security stop recieving your bf pension if he didnt comply to their annual report..and before he went here better to call his bank or ss that he use his card here..
@SimplyDayang7 ай бұрын
@@user-rt7nn3yy5l Thank you so much
@mikesphilippineretirement7 ай бұрын
Yes I do
@frankcentofanti93173 ай бұрын
Why on earth would anyone retired would want to live with someone’s family that to me is crazy that’s not how I want to be retired?
@miguelc.8199 ай бұрын
Great video, thanks
@mikesphilippineretirement9 ай бұрын
thank you
@geraldarrington96209 ай бұрын
I'm in Muntinlupa, Metro Manila, my budget as a single guy is as follows: Luxury condo w/parking p45k Food p20k grocery plus eating out Net p2.1k Car and scooter 0 (cash buys) Water p600 Electric p5-6k Subs p1.3k Im self insured and a SSRV holder. P75k or $1,370 total expenses on a budget of $3,150 monthly. Easy peasy life.
@mikesphilippineretirement9 ай бұрын
good job..enjoy Manila
@marianeil66309 ай бұрын
Where in Muntinlupa luxury condo, did you use a broker??
@petemorris64759 ай бұрын
I have Wrlife insurance it's designed for Xpats I get 80k US hospital cover for a 100 bucks a month 🙂
@mikesphilippineretirement9 ай бұрын
good deal
@NunyaBidness-zr5mn9 ай бұрын
I will be able to do $2900 a month when I get over there in a few years. And that's with keeping $200k in savings for emergencies. I will probably hire a maid, and get really good health insurance, buy a nice 650cc motorcycle with luggage bags. I'm figuring $700 a month for food (groceries plus eating out), 600 a month for rent, $300 for utilities including internet, $300 a month for a maid, $500 a month for miscellaneous fees such as visa fees, gym, insurance, etc. The rest will be for traveling to all parts of the PI for pleasure.
@mikesphilippineretirement9 ай бұрын
your set for a good life here...really a 650 cc motorbike. Have you been to the Philippines b4?
@NunyaBidness-zr5mn9 ай бұрын
haha. I know... But as someone who has ridden 1250 to 1800 cc bikes all his life, quite comfortably, I can say a 650 is a decent compromise for me. It's powerful enough to feel comfortable on a 50 plus mile ride, and it can support adequate luggage cases to take home a few days worth of groceries. @@mikesphilippineretirement
@danross-cv5ju9 ай бұрын
After spending a month in Cagayan de Oro and looking at some rental homes, I determined my girlfriend and I could live very well on $2,500 a month and be able to save $2,500 a month for travel. My other savings would be used for emergencies. I ride a 750cc at home in the states and a 650cc would be overkill in the PI. I couldn’t see getting anything bigger than a 175cc.
@NunyaBidness-zr5mn9 ай бұрын
@@danross-cv5ju Good information to know. Thanks!
@user-er9rb8rg2i9 ай бұрын
I been going to the Philippines 25 yrs when it comes to money land or buying a house you will never win,
@mikesphilippineretirement9 ай бұрын
25 years what was the longest you lived there at one time
@markarneson20094 ай бұрын
Do you no anybody in the Philippines that's on insulin and how much does it cost them and where do they get it?
@BrokeAmerican9 ай бұрын
It sounds as though retirement in the Philippines is too risky. Inflation running rampant and better off not selling off my condominium for a life of soaring rental prices in the Philippines.
@mikesphilippineretirement9 ай бұрын
rent is not going up in the US?
@BrokeAmerican9 ай бұрын
@mikesphilippineretirement I own my condominium, so rent increases don't affect me. Hard to believe I live in the most expensive area of Dallas, Texas, for less than the rent prices in the Philippines 🫨
@SecPakknow9 ай бұрын
It's cheaper to buy cooked food in a carendiria
@mikesphilippineretirement9 ай бұрын
yes and a little more risky
@marareyes19569 ай бұрын
It is really a case to case basis, if you are able to marry a Filipina who is also financially stable, and still working, you will have a better life, not a poor life, Not marry a Filipina who is unemployed so that you will not suffer much and experience a poor life. Have to be smart, not marry a youngwoman who only knows how spend, and lazy or unemployed, a woman who is educated and empowered., not a prostitute kind of thing
@mikesphilippineretirement9 ай бұрын
so tell us where do you find a women like that?
@user-gw8ce8ig3i9 ай бұрын
@@mikesphilippineretirement @maraeyes1956 sounds like she is trying to promote older women to be desirable by expats. @maraeyes1956 was probably born in 1956 which makes her/him 67 years old, Lol. Using words like "lazy and prostitute" as an attempted insult to relate to marrying a young woman.
@danross-cv5ju9 ай бұрын
I feel fortunate I found a 51 year old woman (youngest of seven siblings), never been married, no children, educated, well versed in English, heavily involved with her church and part of a family where many of them are college educated and employed.
@user-bh1se9hn9j2 ай бұрын
Yes sir i can live on 1500 month
@nrolo335628 күн бұрын
The water in the province is cold
@RacerX19719 ай бұрын
Why cant you raised chickens, goats and pigs? this can even supplement your income..
@mikesphilippineretirement9 ай бұрын
why? why start a business in the Philippines? your here to retire
@RacerX19719 ай бұрын
@@mikesphilippineretirement , just because you retire it doesn't mean you can't have a business. Some of my friends who retired in the Philippines do this to supplement their income.
@mikesphilippineretirement9 ай бұрын
not a business a hobby
@BelusTraveller9 ай бұрын
Yes, Spot on, Your right there Mike, I can live on 800 to 2900 a month, 😂😂😂😂😂, Its not about your spending, You must limit spending and make you circle small, I have 2 properties Cebu and Leyte, Two households, Average around 2k but now renting so will be lowered,, God Bless Belus
@mikesphilippineretirement9 ай бұрын
thanks for sharing
@herbwitt77109 ай бұрын
Thanks Mike & Janet doo 😊 Thanks for all the great budget information. Spam is yucky. Going to have to save up more money for foods Praying for Monty 🙏🙏
@mikesphilippineretirement9 ай бұрын
Our pleasure! Thank you Herb
@user-jx2xx6op8m9 ай бұрын
Hi Mike, we're you already. collecting Social Security in the U.S. before you decided to retire in the Philippines?. Did you re-apply to have your checks receive there. Or you had your Social Sec. check directly deposited here in the U.S. to a bank that you can access there in the P.I.? You look good and happy. Ty
@mikesphilippineretirement9 ай бұрын
I applied for SS in the US in 2019 and have it depostied in my US bank
@JusHaveFun9 ай бұрын
Good video, If you remarry and your new wife has a child can put them on your ssi? If so that will increase your benefits quite a bit.. If you have 1000 per month it should increase to around 1600, that is if you want to remarry.
@mikesphilippineretirement9 ай бұрын
Thanks for the info
@jerrymarshall27289 ай бұрын
I’m fortunate to be marrying a Filipina that has a job. Her income will be going into savings, and her daughter and us should be able to live on my social security, without too lean of a budget. I was fortunate to have a decent income in the States, so my S.S. is a bit more than some. I just wish I had done more financial planning years ago. Now I’ll live with my short-sightedness. Once I sell my house, in 1-2 years, after this flat spell in the market, and can get my new house built, then I won’t be spending for rent
@mikesphilippineretirement9 ай бұрын
great plan
@thomasc47779 ай бұрын
Very informative. Thank you. Mike, you noted that you and Janet have a studio in IT Park and a condo in Dumaguete. Why 2 residences, if you don't mind my asking? It sounds like they are 2 completely different areas. Thanks again.
@mikesphilippineretirement9 ай бұрын
Good question! we visit cebu often and it is cheaper to just have a cheap condo here in Cube
@thomasc47779 ай бұрын
@@mikesphilippineretirement Hey Mike, I completely understand. That's good thinking AND good money management. Stay well.
@psbucs9 ай бұрын
great video, very informative for those who maybe looking at retiring in the RP.
@mikesphilippineretirement9 ай бұрын
thank you
@ted15589 ай бұрын
Yes, sir, but you forgot the guys who has money down to pay fully a condominium apartment + a regular 1000 USD, for example. Its my case. So, for them, that 1000 USD means 1500 USD ... so its not bad at all. Plus, you can travel much easier and come back home which is already paid ...so no stress to pay for nothing the rent when you are away... already
@mikesphilippineretirement9 ай бұрын
monthly hoa dues , taxes, maintance cost. always cost with a condo
@briancasteel80259 ай бұрын
I really enjoy your videos. You are helping alot of people. My wife and I will move into our rental in 3 years. Come back to USA or 3 or 4 months at a time. Do you know if I can get on her Phill health, or have my own.Thank you very much . .
@mikesphilippineretirement9 ай бұрын
you can get Phil health if your a filipino or have a acr card
@jennymark74039 ай бұрын
Omg spam it's well yuk haha. Your a busy guy 2 lives and a video in 24 hrs . Been there for all 3 , you woke me up at 2 46 am this morning for the first, it was so warm last night , it reached 100 deg fnh today a week to go but storms coming. 😊
@mikesphilippineretirement9 ай бұрын
try to stay cool. And thank you for your support
@petesrules15089 ай бұрын
Mac Donald's for us is fine dining compared to what's available and spam and cornbeef and sardines are creeping into the diet as prises increase.
@saulgoodman72219 ай бұрын
You said it right there Mike. Whatever amount you have to retire on- it’s cheaper there. You may save enough so you won’t need those nets that we have in the USA 🇺🇸 as long as your healths good you can do it.
@mikesphilippineretirement9 ай бұрын
I agree
@dumaguetedreaming9 ай бұрын
As long and until your health holds up. Let Markie Shumate's story be a warning to those who don't get annual check ups. His last ten videos are an eye opener.
@edgregory19 ай бұрын
Spam is expensive in the P.I.
@mikesphilippineretirement9 ай бұрын
yes it is imported for the states
@garymontgomery79289 ай бұрын
Do you worry about SSI being cut off for Expats or just SSI running out what would you do.
@mikesphilippineretirement9 ай бұрын
same as everyone....never be cut off for expats...running out they print more money
@remo1wodmnetwork96059 ай бұрын
Excellent points, Mike, especially to be "forward thinking" when it comes to costs, comfort, health & locations. It will be different there 5 years from now so we better plan for it. What do you think about living on a boat instead of a house? Then you could maximize travel cost savings, easily change locations and actually OWN your home as an expat. Would it be viable to to buy, build or own a houseboat?
@mikesphilippineretirement9 ай бұрын
thank you Remo
@brixau5358 ай бұрын
No Remo. Nobody does that here--goes to show it has so many disadvantages like acess to electricity, clean water supply. And the typhoons can wreck boats.