RETIRED ABROAD ON SOCIAL SECURITY/MEDICARE AND BANKING

RETIRED ABROAD ON SOCIAL SECURITY/MEDICARE AND BANKING‪@paulinthephilippinesolddog9234‬
Mikes Channel
/ @mikesphilippineretire...

[@aaronnewslettermarketermcl6481]

Can you guys teach the US government how to sit down and have a discussion even tho you disagree? Great video.

[@mikesphilippineretirement]

always fun doing a video with Paul. We agree to disagree on some subjects

[@KutWrite]

Wouldn't help the government. "War is the health of the State." - R. Bourne, ca 1917

[@JenThornton-u5v]

​@mikesphilippinere 0:52 tirement you mean always good to let Paul bone you right in my old wrinkled A$$

[@Michael-g8d]

I used to love Mikes Philippines KZbin Channel. But I trouble following Stupid people. Stupidly cannot be fixed stupid, and Mike is really Dumb ...

[@MrDee001]

Imagine sitting down career criminals and asking them to cooperate and not harm the citizens.

[@Davidvictor-u6p]

I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

[@Mariakevin-d9v]

People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

[@Pamala-p1t]

Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.

[@Cesarinaella]

This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?

[@Pamala-p1t]

NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@Cesarinaella]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@CherylJohnson-k7j]

If you are not in the financial market right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation

[@Patricia-u5w]

YES!!! That's exactly her name (Maria Williams ) so many people have recommended highly about her and am just starting with her from South Savo

[@Maryvander]

How can I get in touch with Maria Williams ? What are her offerings?

[@Maryvander]

Oh great I'm interested then, will reach out to her now. thanks a lot

[@danielalonso-jz9xf]

A CGTN news host spoke highly big about this woman and her loss preventing strategies. Been trying to reach her since. Thanks y'all for the info

[@Dereick-g2k]

Wow. I'm a bit perplexed seeing her been mentioned here also Didn't know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.

[@glstewart68]

I would go to another country in SE Asia with better healthcare, like Thailand, Malaysia or Vietnam. Another KZbinr (Vagabond Awake?) did a interview with a guy who had his throat cancer handled by a hospital in Da Nang. He received excellent care and all in, including the chemo/radiation treatments, a small apartment closer to the hospital, AND a caretaker to help him for the 7 weeks of treatment, it cost about $5k USD.

[@garcia4328]

Caution: Private medical care in Malaysia is very good but its expensive compared to Thailand. I agree there are some good hospitals in Vietnam, although the top 3 hospitals in Manila are excellent.

[@kevink1214]

@@garcia4328 That is what I thought too about say St Lukes, but then to hear from Paul that diagnosis was not made or missed. That is concerning in that it is supposed to be the best, and it cost as much as a US hospital.

[@michaelbyrne5469]

I just had cancer surgery at St. Lukes and it came out perfect.

[@elzoog]

To be frank, these guys are probably in the Phillipines because the girls are hotter there. Othewise, I don't see what appeal that country has that you can't get elsewhere.

[@leemcarthur4334]

​@@elzoogHave you been to the Philippines before? 🤔

[@mypov4343]

In theory, you want to be secure no matter what happens. In practice you can only reduce risks. Not living in US reduces some risks and increases others. It's a game we all have to play.

[@karlenzmann1917]

Well said...

[@klausschumacher7126]

I think that the US is more dangerous than the Philippines when. If you're white maybe it's okay but as soon as you're colored or going to school it's definitely not safer...

[@enjoylife1176]

Well said, I second that.

[@brucehuddler7518]

St. Lukes diagnosed, dealing with most hospitals here is definitely sub par, fact. FYI. Pathetic.

[@keith-kb1zl]

Yep. once you get to a certain age, health care is a crap shoot no matter if you’re living in America or not..

[@MyLifeinChile]

My wife and I retired in Chile 3 years ago with my social security and a small pension. My wife is Chilean and we pay $65 a month for health insurance for the two of us. My wife has had three surgeries. Two relating to a broken wrist and the other to replace a broken breast implant which she received in the US after her breast cancer. There was absolutely nothing to pay for any of her treatment. No deductables, no copay. I canceled my part B after much deliberation. I don't have anywhere to go back to in the US if I were to become very ill and wanted to use medicare. I didn't want to pay $175 a month for medicare and then another $100-$200 a month for a supplement plan and then there's the part D drug plan on top of that. Our rent and utilities come to about $350 a month. My life is here in Chile.

[@ParisianThinker]

Best wishes!

[@mikesphilippineretirement]

@MyLifeinChile thanks for sharing Hope your wife is doing better now.

[@MyLifeinChile]

@@roselee4445 Chillán

[@MyLifeinChile]

@@roselee4445 Chillán

[@MyLifeinChile]

@@mikesphilippineretirement She is, thank you

[@Dontworry44]

Kept my SSA part B paid since day one. You really never miss the money, since you never really had it anyway. Best thing I ever did. Had an unexpected heart attack while living on Siquijor Island Dec. 04, 2022. After stabilization in a Dumaguete hospital, my cardiologist recommended an angiogram in Manila. I was able to fly back to Oregon for treatment fully paid (minus a $1200 deductible). You can't just go and use medicare back in the states unless you have part A and B already active. If lacking either one there's a thirty day waiting period before it takes effect. Then once admitted there's a $1600.00 deductible that has to be paid before medicare pays anything. In my relatively common case, they paid >$80K.

[@beachkid1]

sorry for your illness.......thanks for the info....didnt know about the 1,200 deductible on medicare.....

[@fisherlord2438]

I agree with Old Dog. Too many unknowns that could cause severe grief!

[@MrSamSafari]

If you have something terminal no doctor in the Philippines or the US can help you so don't worry. 🇺🇸🗽

[@daredevilforlife]

That’s it. Just want to be comfortable.

[@jimle22]

Just live for today and try to be happy until your gone.

[@humungushumungus213]

Oh yes they can, I know someone with abdominal mesothelioma , death sentence in Philippines, UPMC in Pittsburgh did surgery and HIPEC advanced chemo put him in remission

[@MrSamSafari]

@@humungushumungus213 and he is going to live forever.

[@bailey9r]

But some things that are terminal in the Philippines are routine in the US, ;

[@todddunn945]

A couple of points on returning to the US and restarting Medicare there. Yes you can do that from January 1 to March 31 every year, but your coverage won't start until July 1. So if you get sick in say April and return to the states, you won't be able to go back on Part B until July 1 of the the next year. Also, when you restart Part B, it doesn't pay everything. First in 2024 there is a $240 Part B deductible before Medicare pays for anything (with a few exceptions). Second, Part B only pays 80% of the Medicare approved amount and you are responsible for the rest. If you go back for cancer treatment, that 20% can add up fast and there is no limit to what you might have to pay. When I was treated for Leukemia, my 20% copays came to about $50K. The solutions to that are: 1) After you get your Part B reinstated, in October-December sign of for Medicare Advantage. That will start on January 1 and will limit your out of pocket costs to about $5K-$8K. or 2) IF you are in one of the few states that allows you to get a Medicare Supplement policy without medical underwriting, sign up for one when you get your Part B restarted. That will cost more. Note that if you are not in one of the states that doesn't permit medical underwriting for supplements, you won't be able to get a supplement policy if you are already sick. Yes, Part A (hospital coverage) is free, but in 2024 there is a $1,632 deductible before coverage starts. You may have to pay that deductible 2 or even three times in a year if you are unlucky. As far as getting your social security direct deposited goes, you will generally get the best exchange rate that way since the US government will do the exchange and deposit you benefit in the appropriate foreign currency (Pesos for the PI). That may save you a few percent.

[@Cool_Breeze_Rockies]

Thank you for this post! The information in your post is correct and important.

[@ParisianThinker]

Wrong. Your coverage starts in February if you signed up in January. I just spoke to Medicare specialist about that fact.

[@Cool_Breeze_Rockies]

Thanks for pointing that out. I think the important point here is that you can't just come back to the US and immediately pick up coverage and get treatment. Also, it makes a huge difference if you select traditional medicare vs medicare advantage.

[@mikesphilippineretirement]

@todddunn945 thanks for the info I will check it out

[@FranksPH]

SPOT ON !!!

[@ianmac2963]

well done guys ... many thanks for the reminders

[@goku5524]

For retired military at 65, they have to enroll in Medicare part B if they want to be covered for Tricare for life overseas. the good thing is they can use it in the PH.

[@CaptainJackSparrow110]

I tell old people that they need to treat their retirement and later stages of life like they did their young life. You spend your youth getting educated and learning how to work. Then you concentrate on building a career and retirement fund. When you get old you need to spend all your efforts setting up how to live and anticipating all the pitfalls of failing health and mind. Old people don't seem to think they are on the decline. They don't plan on who will take care of their finances and be trustworthy enough to keep them safe from scammers. They think they can drive a motor vehicle even when they shouldn't. Homelessness in the over 50 crowd in the USA is the fastest growing demographic of homeless.

[@timparhamsr9598]

Paul , when you smile ;)) ....... You light up the entire HOUSE !!! I love that smile !!

[@dovoso5685]

Hi Paul, I really enjoyed this video. Here is the thing - like you said - it all depends on the individual's circumstances.

[@mikesphilippineretirement]

It is a personal choice @dovoso5685

[@carlpeters]

Hello from Alabama! Just wanted to say I always enjoy your videos and great to see Mike with you. So, best to ya! Roll Tide!

[@KB3TLE]

* GO BUCKS * > c/o Mike !

[@mikesphilippineretirement]

@carlpeters Thanks for watching but i must disagree Sorry not your year . Go Ohio State Buckeyes

[@darrenlinn5322]

Enjoyed the video both have valid points. Personally I kept my part B and my American bank. I had automatic debits coming out and most everything I do is online . I still have a house in the US so I was able to keep my address. I check my mail online so I know when I get something important. When I do I have a family member open it and send me a picture so I can take care of anything that's needed. Thanks Paul keep up the good work.

[@nige1840]

Great video...info & entertaining..

[@mikesphilippineretirement]

thanks for watching @nige1840

[@ericsmith-VN]

You two fellas give such good info , its invaluable. Thanks guys.

[@mikesphilippineretirement]

@ericsmith-xd1xm22 Thanks for watching and the very nice comment

[@admindesk2760]

It's a rare thing to see such good chemistry. Really nice demeanor.

[@901pics]

Both these guys are level thoughtful level headed...I enjoy their advice and approach.

[@troymoses8405]

Enjoyed the video and difference in opinion. Myself I will keep part B, just for peace of mind if nothing else. As for sending my SS check and or pension check to my Philippians bank, I’ll always bank in the US. With that I can always play the peso to dollar flexibility. Anyway, thanks for sharing Paul and Mike, always great to see you guys. Blessings to all.

[@mikesphilippineretirement]

Thanks Troy

[@dukewanders]

Ask 10 people their opinion, you'll get 11 responses. it is a personal decision, no right or wrong answer. Plus you have great healthcare available in Malaysia & Thailand. Nobody gets outa life alive. Great topics, enjoyed the civil discussion.

[@johnrisher3007]

Exactly brother, we are all going to die one day. Be ready and don't worry about it. If I die tonight I will be with Jesus

[@MakatiMazz]

I opened an HSBC checking account in the U.S. and a second in the Philippines. HSBC allows you to transfer seamlessly between accounts FOR FREE. This is the only bank in the world that allows this.

[@nadiajurasek186]

Not true . You can transfer your money for free from BofA if you ask them to sent it in pesos , if you send it in dollars fee is $45 .

[@MakatiMazz]

@@nadiajurasek186No, you don’t understand. I am transferring money between two HSBC accounts. You are not doing that with BOA. BOA doesn’t have any Filipino checking accounts. HSBC has both U.S. and Filipino checking accounts.

[@randyr365]

It's been a while, good morning Gents. It really boils down to personal needs & wants...hope you guys are enjoying life...

[@mikesphilippineretirement]

Just enjoying my retirement here Randy

[@floribertosousa2251]

Hi 👋 Paul and Mike,..two great amigos !!! Great 👍 video on two important topics with great opinions and ideas of both of you. Thanks and keep up the great work of both of you. Take care.

[@mikesphilippineretirement]

@floribertosousa2251Thank you

[@paulinthephilippinesolddog9234]

Glad you enjoyed it

[@papadougpapadougsadventures]

I think I’ll use the ATM to withdraw funds as needed to cover my monthly bills. Charles Schwab reimburses ATM fees.

[@dantheman11121]

Yeah but i understand there is a chance Charles Schwab could close your account when they realize your living overseas,not sure if that’s the case???

[@kevink1214]

@@dantheman11121 yes it has happened.

[@darryl.c7972]

@@dantheman11121 I have Schwab and live in Thailand and they know I do, no one has ever said anything about closing my account.

[@danielmckinnon9627]

ATM exchange rates are horrible

[@papadougpapadougsadventures]

@@danielmckinnon9627 I didn’t know that

[@jspice-kl2wc]

Great video with super great information, thank you.

[@richardknodel2829]

Lovely that the two of you could kabitz on these things w/o getting upset! Lovely! Very educational! Gives us hope.

[@mikesphilippineretirement]

@richardknodel2829 You should have seen us off camera. hahaha Thank you for watching

[@KutWrite]

I had fun watching the people behind you wile you were talking!

[@saulgoodman7221]

Hey guys. Thanks for your opinions. Can’t have enough information.

[@paulinthephilippinesolddog9234]

Our pleasure!

[@johnsonfisher9500]

Great video, nice teamwork, and two logical good ways to accomplish the goal. I am headed your way, and I appreciate any advice and the options you provide. "Live long and prosper."

[@richardclausen154]

Fantastic video! I listen to both of you, and it was great to hear the perspectives based on your lifestyle and living scenario. Both situations made sense based on circumstances. Will be back in Duma in November and hope to meet you both! Thanks to both of you

[@mikesphilippineretirement]

@richardclausen154 glad you enjoyed the video

[@richardclausen154]

@@mikesphilippineretirement always do!

[@MikeMuniz615]

I'm a licensed insurance agent since 2014, and I sell Medicare and Final Expense. My home State license is Florida and I'm licensed in 26 more States. My advice on Medicare plan B would be: 1. No need to pay for plan B if you have no plan of ever returning to the U.S. 2. If you plan on returning to the U.S. for medical treatment, keep plan B. There are MAPD plans (Medicare Advantage) where you pay $0 for Part B, so you don't have to spend out of pocket or SSI on Part B.

[@georgeanaipakos3489]

The penalty for picking up Part B after you were initially eligible is 10% PER YEAR added to the cost of Part B

[@mojolivinginthephilippines3503]

Great video a lot of good information just straight facts no B/S like a lots of other channels

[@mikesphilippineretirement]

Thank you for that nice comment @mojolivinginthephilippines3503

[@TropicShade]

Not entirely accurate on Mike's part though.

[@davidstonge7121]

Thank you both. I'm looking in the next couple of years to move to Cebu or dumaguete.

[@mikesphilippineretirement]

stay in touch David

[@barryalderson3081]

You are both my favorite KZbinrs regarding the PI experiences. I value both of your opinions. Please keep up the excellent work, both of you.

[@mikesphilippineretirement]

Thank you Barry

[@jmac5755]

If you are military retired; you must keep part b in order to have tricare for life. A must if your health deteriorates and you go back to the USA.

[@ParisianThinker]

I didn't know that.

[@LesleyWelsh-eb8cm]

that is 100% correct, I am retired Army living in Philippines. I have Tricare select overseas insurance covering me in Philippines till I start receiving Medicare in 6 years.

[@L4P-Monk]

I was in the military for 6 years. Glad I didn't retire from the military. Man... that sucks.

[@billj9838]

@@LesleyWelsh-eb8cm If you’re a veteran anywhere in the world. If you can still vote in the United States. You better vote Democrat. The Republicans have created Project 25. It completely wants to dismantle the VA. Its first goal is to stop disability payments to veterans if you don’t believe me, you better get online and check it out. If you were receiving Social Security benefits, and Medicare benefits again you better vote Democrat, Trump’s evil VP candidate wants to dismantle both Medicare and Social Security. Again, if you don’t believe me get online and check out both these evil prospects to run our country.

[@cindygordon5242]

You can also fly to Guam , if need be

[@yoyojoe9240]

I've been in Php for 15 months , SSA and Medicare with part B, plus VA Healthcare. SS direct to US bank since 2020, ( Capitol 360, No Fees ) I get "SS letters" thru the SSA App. (No paper letters, including proof of Life), never a problem. Medicare reimburses me any medical expense$ Out of pocket in any Country that I get care. (*Need to send Official Medical receipts to Medicare & done deal). Always keep a cash surplus in your "cookie Jar" (Of course "this hat does not fit" everybody) Do your own research direct with the proper Agency. *Also they do Live Video calls since Jan. 2024. Good video, Thank you

[@Walk-retirement-travel]

I was wondering about receiving the SS letter electronically. You never hear anyone mention it. I’m not retired yet but I receive all of my other government documents electronically. It’s like most people don’t understand electronic messaging

[@kevink1214]

@@Walk-retirement-travel I am not 62 yet, but hearing all these guys talk about this letter I thought the SSA only used the mail system for the proof of life. I too was surprised that it could not be done electronically.

[@ParisianThinker]

You were in the Military. So you have different rules than the rest of us.

[@MichaelSmith-hr3be]

​​@@kevink1214I cannot find any mention of an online version of the proof-of-life form. I asked the SSA about it. They replied that they hope to provide it in the next few years.

[@rfbos]

Are you trying to insinuate that you can complete the SSA7162 Via this app? No, you can't. Do you even have a registered Philippines address in myaccount with SSA? If not, you never get the form. The app actually sucks, even when it's working, which is rare.

[@Philibusting]

Social Security - mine goes to a US bank and I access the way I access all other monies. I have a VISA debit, Visa credit (a few actually) so I can pump gas, shop at Gaisano, Fast Food chains, and all the malls without issue. I transfer money with Wise as needed and pay fees as needed. But I like the security of having pensions and SS deposited to US Banks. I rarely use ATMs here or in the US.

[@keith-kb1zl]

I’ve had no trouble using my Citibank ATM or Chase bank. works in grocery store, mall, and resorts 🤗🤗🤗

[@johnrisher3007]

In 2019 I went to see my girlfriend in the Philippines. I used my debit card to get money to spend and had no problem. She is my wife now.

[@Philibusting]

There’s a level of comfort having your money deposited to state-site banks.

[@livingoutloud5729]

Excellent collab you guy's. Been thinking about these exact things now for quite some time before I move to the Philippines.

[@fluffy5534]

Please check your facts. Part B only pays 80 percent of the bill. The remaining 20 percent is yours to pay. If you can not afford it, you can elect medicaid to cover it. Once you die, your estate is responsible for covering / reimbursing the medicaid. Also part B doesn't cover your medicine. I also cancelled my Part B. I have private insurance. I will go to Singapore, Thailand, Malaysia or Indonesia if I have a major medical problem. I agree with Paul on keeping all your money in the U.S. bank. My preference is Schwab. I wire what I need to any foreign bank once every 3 months for $20. The rest of your cash you can buy FDIC insured CDs with great rate through Schwab.

[@mikesphilippineretirement]

I us Charles Schwab, Wells Fargo and Capital One

[@mikek8816]

Medicare Advantage covers the 20 percent?

[@fluffy5534]

Good afternoon: I used to use Capital one for years. But I cancelled the card. The customer service was awful. After 15 years of being a customer, I tried to cancel a wrong charge from Yahoo. Capital one refused. So I got rid of them. As for Wells Fargo, I like their CDs through Schwab. I don't like the bank itself. Used to work there. Lots of internal issue impacting client accounts.​@@mikesphilippineretirement

[@user-up6qp9fv9w]

Medicare is only good in the states. You should still keep it if you retire overseas because if you move back to the states and want get back Medicare you will have to pay a penalty for every year you did not have part b.

[@keith-kb1zl]

@@user-up6qp9fv9wnot worth giving up, if you’re on that tight of a budget you shouldn’t be living overseas anyway..

[@JM-vx9fu]

On social security, I think it is much better to keep it in America and transfer what you need every six months or have a Schwab account and withdraw the funds you need from their ATM as they refund the fees. Keep about Peso 500,000 in a Philippine account which is the maximum amount insured in case things go wrong and replenish it when it gets low. Also do not keep all your social security payments in one account in the US as banks can go bankrupt here too and it did happen to me during the financial crisis in 2008. On medicare Part B, I am for paying it just as an insurance as it is likely that healthcare needs increase as a person ages. It is also important to travel to the US at lease once a year and do a full physical as it may increase your chances of catching issues early or take care of things that can't be handled in the Philippines. It is not a bad idea to also buy insurance from Philhealth or set some money aside for minor medical needs and use it when things come up. IN sum, having more options whether to get your money from or for healthcare is better than cutting your options and assume higher risk.

[@johnrisher3007]

I don't trust swab

[@pie9]

Paul: Thank you for another excellent video. Kudos to you for allowing counter points to be discussed.

[@paulinthephilippinesolddog9234]

Glad you enjoyed it

[@ld7631]

@@paulinthephilippinesolddog9234 Always appreciate a different point of view.. But I agree with you Paul. Keep Medicare part B, and my Social security in a stateside Bank. Since Mike has another retirement that he can access, he can afford to be more hasty with his SS. He has some fall back money to rely on. As they say “we agree to disagree." Keep up the good work Paul...A loyal subscriber

[@maggiemay97]

The people you’re referring to who paid nothing for all these treatments in the United States because they had Medicare must have also had a supplemental policy. Because there are lots of deductibles, etc., that you have to pay with Medicare that the supplemental policy takes care of example I had knee replacement surgery a couple years ago and I didn’t pay Penny, but I would have had to pay a lot of stuff if I did not have a Supplemental policy. Unfortunately, the supplemental policies are getting ridiculous. They’re going up more each of year. It’s crazy. I am 72 my supplemental policy price changes every year and my birthday month and as of August 1 I will be paying $330 a month for it so you have to take that account also. This year I have only been paying $279! The amount it increases keeps going up every year.

[@richardguthrie6765]

My Medicare part B was 266 going up to 300. I called and changed mine to part G it dropped to $146. But I will pay the first $240 each year iI g o to the doctor or hospital

[@maggiemay97]

@@richardguthrie6765 I have Plan G Supplemental. I’ve had it since 2016. The premium has gone up every year but last year and this year it really jumped up a crazy amount. So at this point this year I am paying per month $175 out of my SS check, $330 for my plan G Supplemental policy, $33 for my Part D drug plan and $20 towards my $240 annual deductible that we pay once a year. That totals $558 per month ($6,696 per year!!!) We won’t know for another couple of months how much they’re going to take out of our check each month for part B, how much the annual deductible will be, and how much the drug plan that we choose in the open enrollment period is going to be. All I can say is that I just sold my house because I just couldn’t keep up with it anymore, mowing the grass and keeping the yard and whatever because I’ve had surgeries on my leg and I’m getting older and I just thought it was time to get rid of the house. So I’m living in a beautiful apartment in Arkansas, which is relatively cheap for a two bedroom/one bath apartment which means I have a bit of a cushion in my bank account from the profit I made on my house and I’m not real worried about this Medicare cost right now, but who knows how long I’m going to live? I’m not really worried about me, but what is going to happen to people who don’t have a house to sell to give them a cushion in the bank? They won’t be able to eat after they pay all their health insurance cost. Now on the bright side because I have Medicare plus the supplemental I had two major major knee surgeries last year and six months of intensive physical therapy to recuperate from them and I didn’t pay a penny except my $240 annual deductible for that year. I haven’t even gone into the Medicare site to see how much that all cost. I don’t even really want to know. I’m just so glad I didn’t pay it! I would probably be bankrupt right now.

[@L4P-Monk]

Paid nothing under Medicare... yeah right. Medicare is definitely not a free get out of jail card. And the government can, will, and has changed the benefits. And wait until the fund runs out. My goodness.

[@randycantu1]

Medicare insurance broker here! Keep your Medicare intact because in the event of a serious emergency, you're going to want Medicare in place. As we age, your needs will get greater. Medicare open enrollment is now Jan. 1-Mar. 31 and will now be effective the following month. I also own an immigration business...ask away!

[@keith9454]

Should i get part D???

[@randycantu1]

In my opinion, no. The penalty is nowhere near as high. If you ever need a Part D, it's easy to jump into.

[@zevlove612]

The system is just complicated for no reason… in a country as wealthy as ours all seniors should have access to healthcare simply produce ID… all this enrolment part A B C D why? As usual we always over complicate things. Elsewhere in the developed world they have none of that red tape you just go and get treatment you need at public hospital

[@shelbyeddington5719]

I AM 55 ON SSDI, I CANCLED MY PART B OVER A YEAR AGO, WAS TOLD I CAN START IT BACK AT AGE 62 WITHOUT PENALTY

[@robertbodnaruk6710]

So by keeping Medicare,it is still necessary to carry a supplemental plan to cover the 20% that Medicare does not cover

[@MrBettercheck]

Hello guys! Great video by the way. Both of you gentlemen make good valid points. I have a tendency to lean toward Mike on part B Medicare! I’m with Paul on the banking. I would have to live in the country for some years before I rethink my actions…great topic!

[@mikesphilippineretirement]

@MrBettercheck Thanks for sharing and watching the video

[@OneMansParadise]

HAHA! Love the friendly argument idea between a couple great KZbinrs!

[@mikesphilippineretirement]

glad you enjoy the video

[@MrBummpr]

My two favorite counselors!!! I have so much in common with you guys. But I agree 100% with Paul. I keep my Social Security deposits in my US bank account and then use Wise to transfer pesos to my Philippine account. I keep my Medicare and Supplement active JUST IN CASE I have a serious condition that needs attention. Please do more videos together.

[@markj6565]

When i first moved here a year and a half ago, it took me awhile to decide on what to do about part B. I opted to cancel it and take the $200 per month and use that for my Pacific Cross Insurance here in the Philippines. The plan i have will also cover me for getting any medical care in Thailand which would be my first choice. As for collecting my SS, it goes directly into my US bank and i then transfer money to my bank here as needed. It is a simple process and i feel safer with it in a US bank.

[@ParisianThinker]

I didnt' know Pacific Cross Insurance in the Philippines would cover you in Thailand. That's very good news.

[@gerrymcnally9344]

Brilliant video Paul. This should make people think, operative work is think. Myself, I have Medicare, FedBlue and Tricare for Life. Tricare is free and I will not get rid of the other two. The future is unknown. And I don't trust the future. As for the banking, I have 3 retirement checks coming in. So I send money over ahead of time (wife's BDO) and carry some cash with me. I plan to keep that process going for now. Right now, I go back and forth for a couple of months at a time. So making any changes will be futile and not a good idea. I do have a safety net of other money's. Like Paul, my eggs are in different hen houses. It's up to you what you want. Research carefully both sides (a big white board helps). Then with spouse or without, make a decision. Keep rocking Paul. I'm glad I'm part of the crazy people that subscribe to you.

[@jerichojohnson3219]

YEA RIGHT/ YOUR SO LOGICALLY INSANE IT'S CRAZY.

[@RealGaryGibson]

It's great to see my 2 favorite vloggers together!

[@edisoncawaing3630]

penalty is 10% for every year that part b coverage is declined. so one can do the math, if at age 70, you need to get back in, you have saved 5 years worth of premium, but since your payment will be increased by 50% (10% x 5 years), you will break even at age 80 (deducting the savings you accumulated for 5 years), then after that you will be end up paying more. If you do it at age 75, saving 10 years premium, but increase is 100%, so break even is age 85.

[@garcia4328]

Great math!

[@ParisianThinker]

I am 78. Never paid anything to Medicare for myself or my husband. We broke even years ago by not paying into Medicare.

[@ParisianThinker]

I am age 78. I will start paying in Jan. 2025.

[@mick-berry5331]

Great video from two of my favorite youtubers 😊. As a non-American, I cannot chime in with an opinion.

[@ParkerBG]

Where are you from, sir?

[@mick-berry5331]

@@ParkerBG I am from Austria.

[@ParkerBG]

@@mick-berry5331 Nice. I’m from the USA. Just out of curiosity, why do you watch videos about the Philippines? Are you living in the Philippines or thinking about doing so?

[@mick-berry5331]

@@ParkerBG I visited the Philippines six months ago and spent a few day in Dumaguete. I didn't see Paul though. - No intention to live there at the moment. I liked the people but have no reason to go live there. I'll go to Cambodia for a month or two in fall. If I were to move abroad, I'd keep my Austrian national health insurance. There is no limit, it covers all treatments I might need, including cancer treatment or open heart surgery. When in hospital, they have you pay 10 Euros per day for food, that's it. No payment and no bill except that. When I'm abroad outside the EU, I have to pay anything I need and they reimburse me up to the amount treatment would cost in Austria. Within the EU, I just show my insurance card at hospital or doctor, and they get paid directly.

[@mikesphilippineretirement]

@mick-berry5331 thank you so much for watching

[@monstadable]

I always recommend a few million pesos in reserve or the equivalent in insurance for events that prevent you from travelling such as heart attack, stroke or a serious accident.

[@DonaldChapman]

Great video guys! Really enjoy watching this type of discussion. As I prepare to retire in Texas or Bohol, these types questions are great for me to think about! Love the Forest Camp, I was there earlier this month.

[@robertdavis7312]

Donald glad to see you are retiring, congrats. Some advice from someone who has been there done that. I suggest keeping your home and everything you have in texas i.e. bank accounts, mail etc...! Then go to the RP but plan to stay in the RP 4-6 months and then return home.

[@DonaldChapman]

@@robertdavis7312 Thank you for the tip!

[@franciscoaguilar123]

This sounds exactly like my plan. Then I can use it as a rental for a couple years and head overseas. That should pay the majority of my living expenses while in the Philippines. Then I always have a place to return if needed plus family nearby should a problem occur.

[@robertdavis7312]

no problem@@DonaldChapman

[@mikesphilippineretirement]

Donald thanks for watching Glad you enjoyed forest camp

[@ericg9092]

Yikes, these are serious issues to consider, for sure. I’ll add my two cents, though it’s probably worth less than that as I have yet to retire and don’t necessarily know what the heck I’m talking about. As someone who works in the health system in the US, however, I’m never giving up my Medicare. It’s a blessing if you’re sick and have it over any other type of insurance I’ve seen. If you’re sick and can’t get an appointment with your Primary doc or a specialist, simply show up at a major medical center ER and poof, you’ll have whatever specialist you need as an immediate consult. You won’t have the benefit of pre-selecting them, but if you choose your hospital wisely you’ll be good. As far as depositing my Social Security in a foreign acct? I don’t think so, especially when you throw in the proof of life requirement. As far as I’m concerned I want the government believing I still reside in the US and simply travel frequently.

[@keith-kb1zl]

agree hundred percent.. having my house in the states ensures I won’t have the hassle of proof of life to deal with here. got my 13A visa and spend my time about equally between states and Philippines. canceling part B , or not having enough money to buy a plane ticket back to the states for a medical emergency is playing Russian Roulette, if you worked your whole life and were that financially irresponsible that you couldn’t have set aside at least 200,000 dollars in savings at least then living overseas is foolish. a lot of these guys end up on the streets with no assistance from the Philippines government,and no family back in their home country will help them..

[@raybythebay247]

Paul, I agree with you! Mike, I will still enjoy watching your channel!😅 Whatever "our reasons for living in another country is, whether it's affordability or political reasons! As long as we don't forfeit (our citizenship!) and totally lose our monthly earned retirement income! Don't open a can of worms! Don't try to change, what ain't broken! I live a pretty well planned out retirement life. (Without having a lot!) I live 4-months in Mexico. 4-months in Thailand and 4-months visiting family/friends in the U.S./Canada! (In a stored truck/camper) Access to my social security, direct deposit has never been a problem, (since retiring in 2014!) I'm not going to open a can of worms. (w/social security!) I totally agree with Paul! I Enjoy both you guy's! Hope to at least meet one or both of you this October! Ray By The Bay!

[@mikesphilippineretirement]

we agree to disagree Ray safe travels

[@pattystephens5977]

I agree with Paul. Never drop your Part B Social Security.

[@3777177]

Sounds like Guam not a good option.....

[@ricksivley7047]

Why waste over 2000 a year? If you get sick you go back to america and go to any hospital they can't turn you down you get back on celsius security at a higher rate until your well and you drop it again.

[@3777177]

@@ricksivley7047 Of course, you have no clue, it doesnt work like that, if not enrolled you wont get the coverage....

[@stevensheegog3942]

I agree with Paul that I keep my Part B. I don’t want to pay the life time penalty for the gap. Also I will have a gap plan (supplement) that cover all the Medicare gaps, except the Part B premiums (plan G.). If you drop Part B you have to drop the supplement and will have to pass medical underwriting which you will likely fail if your are trying to get Part B back.

[@georgeanaipakos3489]

@@ricksivley7047 You will have a penalty and a waiting period - OPEN SEASON

[@spudsudz]

As for the Medicare Part B consideration... I will keep mine as I think of it like having a law firm or attorney on retainer... Most months I receive no benefit for paying a monthly fee for an attorney on retainer but if I need legal support the benefit kicks in... Feel the same way about maintaining my Medicare insurance... Yes I fully realize that every month I pay for a sunken cost but I am a stroke survivor, March 2018 who has recovered well... I get it a second stroke here could be a lost cause scenario... However it simply provides me with a security blanket...

[@joeblow3939]

❤ Charles Schwab accounts have free ATM fees. You get charged at the time of transaction, then at the end of the month are reimbursed.

[@billlycans433]

So does Fidelity

[@willH88888]

So does Capital One (both debit card and credit card). It does not assess foreign transaction fees (normally 3% in other banks). If you can find free ATM locally, it is even better. I also heard Schwab Bank can even reimburse your local ATM fee?!)

[@sstritmatter2158]

Nice video - great you guys teamed up. Funny I found both your videos around the same time here and then I see you guys team up. This was a great video and shows the options people have and why. As for Medicare, like any insurance we don’t know the future. You don’t take Part B when you are eligible you get a 10% penalty a year on premiums. 10 years you would pay double. We usually get sick for a while before we die and will need Medicare. Most charges at a hospital actually fall under Part B. I am talking about this because I used to sell Medicare Supplemental insurance. So, yeah if you go back to the US after 10 years or more of not paying Part B it would be high and not even sure if you could get a Supplement to pay the 20% Part B doesn’t pay. Don’t forget Part D (prescriptions) also have penalties if you don’t get that, too. If you KNOW absolutely you won’t go back to the US I would say don’t buy it. If you may go back, I am inclined to say buy it. It is insurance after all - we don’t know the future. Also I agree don’t put eggs all in one basket having everything going into a foreign bank. US has better bank protections as an addition. Just transfer enough for 2-3 months, is it so hard? That’s me - thanks for the video.

[@garcia4328]

To each his own, but we need to recognize that insurance (in any form) is an actuarial science managed by experts. To the layman, it is a matter of "luck" or "fate". The biggest question is: what if you get stricken with a stroke, cancer or a broken spine. The second question is: how much money do you have in savings in the Philippines (or another foreign country) at the time you need it for such a medical emergency? The third question is: What quality of life would you like when you are sick? Do you want to risk a misdiagnosis? Do you want to live in a place where the medical care is not the best? Note that "cancer" is a very large spectrum of illnesses. Some are operable when caught early, others are not. a typical round of chemotherapy for leukaemia typically costs UPWARDS of USD $ 300,000 in a private hospital. Ultimately, there is no universal right or wrong answer. But there is one universal rule-of-thumb: you must have at least a certain minimum amount of savings, regardless of whether or you keep your Part B Medical Services or have a hospital discount. Personally, I use Paul's strategy. In fact, I have even kept my life insurance policies, which I purchased when I was very young and the premiums were very cheap. By the way, I notice by watching You-Tube videos that the number of homeless expats have been growing in the Philippines and Thailand, and lately in Cambodia and Laos. They are a burden to the local people.

[@randyintthephils]

The truth is, many people are poor. They are just less poor in the Philippines. People have to make tough choices. Paul's take on healthcare in the Philippines is disturbing. There are 100 million people in the Philippines. Some are rich. They can't all leave the country when things go wrong. But getting good doctors? Being a foreigner, that may take some doing. Mike's take on the real cost of going back to the US is key. Without support, going back would be a nightmare. And maybe just too cost prohibitive.

[@michaelbyrne5469]

I just had cancer surgery at St. Luke's in Manila , total cost less than $5,000 US. I had priced Thailand was about 3 times the cost. The cost in the US was 6 figures. The reason I wen to St. Luke's was I searched for the best surgeons in the world to perform my type of surgery. I was surprised that the doctor I ended up using number 3. I was also surprised to find out many of the top heart surgeons in the world are at St. Luke's. I wanted to go to the states , but I could not see a doctor then surgeon for over a month. I have had follow ups and other doctors have double check her work and they all said amazing and that I am cancer free.

[@mikesphilippineretirement]

@@michaelbyrne5469 Thanks for sharing

[@garcia4328]

@@michaelbyrne5469great to hear of your recovery!

[@garcia4328]

@@randyintthephilsyou made insightful comments. Thanks!

[@jeffs.7412]

There's always some problems no matter what you choose, just do what makes you feel safer and comfortable..just do your research before you make the move.. Great video Paul and Mike.. My fiance is being interviewed on the 31st, if all goes well she will be here soon if not maybe I will see the Philippines soon 😊take care and thanks again.

[@mikesphilippineretirement]

@jeffs good luck with the interview

[@jdtravels5140]

My father-in-law was diagnosed with Stage 4 cancer and died three weeks later. Sometimes nothing can be done.

[@michaelpalosaari9460]

Very good information. Thanks!!! Peace ☮️

[@AnthonyCataldo-ez5ej]

I will keep my Medicare and free supplement and select OTC items at the $130 per quarter to benefit my sister. So, I pay the Medicare, but my sister benefits by $520 per year.

[@maaloufgeorge2926]

Thanks for the video. There is no place on earth better than United state when you are sick. I understand that financial situation is the limiting factor for many people, but your own health is the most valuable asset you have. Keep part A & B and do the best you can to balance your budget. Best of luck to everyone.

[@Rossy-tf2jh]

I saw a fellow expat in Mexico sell a US property for $100,000 and put the money in a Mexican bank. He didn't touch the money for 5 years and when he checked, it had a value of about $50, 000, as the peso had devalued that much. He was sick, as other than SS, that was his whole retirement life. Later he went into a coma and died in the Mexican hospital because they would not give him the treatment he needed to live because he did not pay in advance. He had no one else that could get money from his account to pay. All that money just disappeared from his account when a relative from the US came to check on it. Sad story. People tried to warn him, but he would not listen.

[@AlTaJr61]

yup, I advised my parents to keep their US Accounts and only transfer a Certain Amount monthly to the local National Bank to pay bills, electric, food etc. my late father got sick and my late mom was not a very strong woman herself SO their Caretakers who were "relatives" took advantage and stole Money from their Local Bank accounts. They would have emptied all their Money if it wasnt kept in their US bank

[@sarafinalove5330]

@Rossy-tf2jh. WOW. Terrible!

[@yamashitatreasures]

NEVER NEVER RETIRE IN NARCOS MEXICO

[@kenheisner288]

The problem with Mexico is they discriminate they have a long history of it part of their culture

[@Abklips]

I’ve lived in the Philippines going on three years. After my first year, I had a stroke my right side is paralyzed, making it very difficult to move for travel. I live off my Social Security, which is about 1000 a month not much but enough for me to. Stay out of a nursing home😂 I have a Filipina girlfriend will take great care of me and I love her deeply! She could leave anytime if you want but she won’t. She didn’t hesitate to take care of me. I’m 71. Picked out my tomb in the province on a mountain overlooking the ocean. I might get a few more years that’s fine it is what it is. I have no family back in the states so I’m comfortable with my decision when I die it won’t be alone.

[@eduardohermoso150]

Quite an eye opener!! Thank you gentlemen for sharing this. Many Pilipinos think that retired foreigners in the country are living in paradise. They are unaware that just like any one who has retired, there are indeed a lot of problems that have to be addressed. I hope that you gentlemen are able to continue with a fruitful and healthy life. May God bless you all!

[@Cowboysfan4ever]

No way I’m canceling any of my Medicare or have my pension and social security sent to the PI, keep it in America

[@jimle22]

Then maybe you should just go back there and live?

[@DD214-Calvin]

@@jimle22, that’s a dumb ass response

[@richardclausen154]

@@jimle22then maybe you should own nothing and be happy? BTW, any good insect recipes you want to share with the community?

[@BradSabako]

@@jimle22 dumb reply! The popster is simply saying it's safer to keep your money in the U.S., and with current technology, moving money to SEA is easy. So back off.

[@AlTaJr61]

you can live abroad but keep your Money where you originally lived....Credit and Debit cards are Accepted EVERYWHERE, even Samsung,Apple, Google Pay. My late parents kept their bank accounts in the US and only transferred electronically/by wire a Certain Amount monthly to the country they retired to to national bank there. 90% of the time they used their Credit Cards

[@gloriafarmer6826]

The topic is very useful to many of the viewers including myself. Thank you so much.

[@stan1027]

Thanks Paul and Mike! great video!

[@mikesphilippineretirement]

You're Welcome Stan

[@jamesthompson15]

Thank you for the back and forth, I have been thinking about these very questions, this helped alot.

[@kitsonpeter]

In 2008 a hand full of philippino banks collapsed. LBC bank was one of them many foreigners had accounts and lost a lot of money they only got 500 thousand pesos back paid by the Phil govt LBC bank was owned by the transport company

[@ParisianThinker]

Interesting that the Philippines requires visa holders to deposit $10 000 into one of their banks. I didn't know the banks there only covered losses up to $10 000. Now I understand why the deposit is $10 000.

[@jamessnavely9758]

Hey paul thanks for the video very educational really appreciate it..

[@jameswilson1522]

Thank you ⭐️⭐️⭐️⭐️⭐️

[@mikesphilippineretirement]

you're welcome James

[@patricks1787]

Paul, greatly enjoyed your video. I enjoy all your videos. Thanks. I, married to a Filipina for over 25 years, know that you are doing everything possible to prepare for Baby Mae's future, particularly her future once you are no longer here/alive. I presume you, as a very detailed person, have also thoroughly investigated the Social Security requirements for Baby Mae to receive widow's benefits. The more I research this issue, the more I am puzzled, alarmed, scared, worried by what I am finding out: It appears, BUT I MAY BE TOTALLY WRONG!, that in order for a Filipino widow to receive ANY SSA SURVIVOR BENEFITS she must have lived in the USA for 5 years or have become a US citizen! I have not found any videos that clearly, in detail, address this issue. I wonder how many Americans living in the Philippines, their spouse never or only occasionally having gone to the USA, are under the impression that their surviving spouse will receive survivor Social Security benefits. Are you planning on living with Baby Mae in the US for 5 years? Would you please make a video of the SSA requirements for a Filipino to receive widow's benefits? It will be of tremendous help to your many readers. THANKS!

[@user-wl9yr1bj4w]

Mae can get an American green card after Paul passes away through her marriage to an American. Mae gets the green card to the USA and begins her life there securing her future. Easy.

[@ryanw0345]

Paul - are you going to do any kind of update vlog on Juells family ( how they doing )?

[@UnatkaTasen]

I just fiund you youtube channel. I am really thankful for all the information. Im planning to retire there next year, and these subjects have crossed my mind. I definitely will keep my money here in the U.S. And keep my medicaire 👍🏼 Thanks for the food for thought. You guys are awesome.

[@pamorris7011]

Good job guys. Thanks for your time.

[@dr.michaellittle5611]

Mike’s decision for canceling part B is clownish. It’s only a 4h flight to Guam, where you can use medicare, if you become seriously ill. Also, PhilHealth has a very limited cap and is not sufficient for covering a severe illness, particularly if you end up at a private hospital, where certain clinical expertise is both needed and resident.

[@raymondsmith4401]

Great conversation guys. Living in Thailand, I will mention that all of us here , and most of Southeast Asia , have to go through the social security office in Manila if we have any issues. Not easy.

[@ellashelton5009]

I cancelled my part B of Medicare, because it's not accepted here. Secondly, If I'm that I'll, that I need to Travel back to the US, and leave my family indefinitely, and possibly still dying, but alone, I choose dying here at home in my bed with my wife, and kids. As far as SS payments, I receive mine direct deposit here, because I'd need to go to the US to open a Bank account, and then have it transferred. But, also as far as the proof of life letter annually, if it doesn't go through, you send it to the embassy and it's reinstated within a week. If you're that desperate to have it at the 3rd, or 4th of every month, then you probably shouldn't be in a foreign country. And, the banks which are capable of receiving your SS here, are Major Banks, which are Federally guaranteed to ₱500k. So, you should be safe. Just saying

[@garcia4328]

Good point about dying with family around rather than dying alone in a hospice.

[@colinnewton7020]

If you are living in the Philippines it is not clear that US banks will open an account for you. hen I asked my bank they said I would have to close the account within 6 months.

[@ellashelton5009]

@@colinnewton7020 well, you'll need a permanent address in the US. That's one thing, plus the fees to use a US Bank Card, or to transfer the money to the Philippines is more than just having the money direct deposit in a Bank here in the Philippines. To me, it's just easier to receive it here in a Philippines Bank. No hassles really. Plus, if you ever had to directly deal with the US Bank in person, you just blew at least a couple grand on a round-trip ticket, or more depending where your residence is in the States just to do that, plus living expenses while travelling. And, if you're not a permanent resident here, you'll start all over with the tourist Visa, and 3 years of monthly, and bi-monthly BI visits. Just saying...

[@colinnewton7020]

@@ellashelton5009 Thanks for your reply. I have some friends here but no relatives so having a permanent address here is not really possible. The main worry is the yearly letter from SS to confirm you are still alive. But apparently you can access that online. I guess I need to get that right. As a married man is there a visa I can get ahead of time that would not require me to visit the immigration office every month? Does the US have an office in Cebu?

[@LVclubbouncer]

I wholeheartedly agree with Paul. In my opinion, better to play it safer so I would have an available option. Thank you Paul & Mike for discussing these 2 important issues while living in the Philippines. Im a subscriber and I definitely "liked" this video ! 😊

[@mikesphilippineretirement]

@LVclubbouncer Thank you for your Nice Comment and Watching the video

[@Matthew-gz4oh]

Keep relationships with family and friends in your home country and carry your butt back to see them once a year while your seeing your doctor. Use one of them for your address and keep your medicare, and add a advantage plan that is like mine and reimburses $125 a month. In general most men's health gets worst in the Philippines from diet, boredom, and lack of exercise. Your going to need new hips, knees or other things. You don't want to treat cancer or a major health problem in the Philippines.

[@kevink1214]

I understand your point completely, but as Mike said, he needs the money now, Sounds like some can not really afford the Part B, or need it since they are here, and a supplemental plan to cover other medical expenses are getting costly.

[@Matthew-gz4oh]

@@kevink1214 I agree, but if you factor in the cost of going to Cebu or Manila once a year and get an Executive Physical which is the minimal any guy should do living there its over $1,000 easily for a good one from what I have seen. I could be wrong for sure, and you can get a cheap one in Dumaguete. Try getting a knee repalcement in the Philippines which is quite common if we don't keep our weight off. Paul looks great, but in all my time there most expats look out of shape. Olive oil is high there and most Pinays are not using it. The diet there can be tragic on our health if we are not careful.

[@tedm4932]

If you're over 60 , you don't need to be living permanent there in phils ! Kudos to all the ones over there dealing with that life and hassles. I couldn't do it , got it made in the USA ! MAGA 2024

[@keith-kb1zl]

sad to have worked your whole life and have to give up your Part B and can’t afford a plane ticket back to the states for emergency medical care..it’s playing Russian Roulette with your health..

[@tedm4932]

I watched so many many videos and most retires say if you in late 60's it's not worth living there permanent. Health care is key when you get older and that is not to place to be at all ! This is what most videos I have watched are saying. Better think you're not young anymore !!

[@Straaker]

Great respectful conversation. These Medicare and financial choices are all about what you can afford and risk tolerance. Bottom line is what’s right for you only and you. You accept the good and bad of your choices going forward. You can always tweak your choices if circumstances change.

[@georgevwalking]

Cansell part B until you need it Fly to Thailand for great Healthcare 😊

[@bodyloverz30]

That's right, world class medical care, at great pricing.

[@dantheman11121]

Exactly right

[@markj6565]

I purchased Pacific Cross insurance here in the Philippines which can also be used in Thailand. Cancelled my part B when I moved here since I have no plans of going back to US for any length of time..

[@ParisianThinker]

Agree.

[@stevenhull5025]

Forget Thailand and head for Vietnam. It is better and cheaper.

[@garyburgmylifeandtimes6354]

Great discussion with differing opinions on interesting topics. It all boils down to what best works for the individual and what they feel the most comfortable with. No one solutions fits everyone on these topics. Assess your situation, gather as much information on the topic as possible then make the decision that is right FOR YOU.

[@robertdavis7312]

Paul, I lived in the RP for 14 years, arrived when I was 61 and just left in June at age 75, there were several reasons why I left that are quite obvious 1) the RP is not for aging seniors UNLESS you plan to die there 2) as you know as you age the your body needs more medical attention 3) in my opinion, the RP is for younger men ages 40 to 60, their testosterine is very high (if you know what I mean) 4) lastly the quality of everyday life in the US (depending where you live) far outweighs the quality of life in the RP). Lastly, SS benefits are wonderful for aging Aamricans Part A is free, Part B is optional and costs at least $170 per month for doctor visits and various surgeries etc. These guys that live in the RP collecting US SS have to show "proof of life", good luck with that each year. By the way, I relocated to Clearwater Florida and I DO NOT MISS THE NOISY, dogs, chickens, motor cycles and the horrible traffic of CEBU. Robert

[@franciscoaguilar123]

I spent less than a week in Cebu and figured out that's probably not for me. It was fun to visit but agree its big and noisy. My next visit will be the island of Bohol then on to Davao City. Just curious do you own a property in Clearwater or renting?

[@ParisianThinker]

How do you like Clearwater? I am considering that too!

[@robertdavis7312]

at my age it was not economically smart to buy a home especially when I own a home in CEBU @@franciscoaguilar123

[@robertdavis7312]

I love Clearwater, I live in a 55 an older community, very quiet and people my age

[@tedm4932]

Robert, you are so right ! That is the way I am thinking . Sure be nice there in Phil when your around age 40 to early 60s, but when you get older , definitely not the place to be for sure. More people need to read your reply from experience. That is why I am not there because of late 60s age. Yes, okay to visit but not to live. After this Nov. election, next year the USA will be much much liveable and better !!!! 🇺🇸 Thank you for your common sense post these older guys better listen !!!!!

[@JoshuaReigns]

Hi Paul. These practical talks are GREAT, especially when you guys have differing opinions. It is amazingly helpful to those of us who have not yet made it out there. Thank you SO much. -Steve and Jen

[@mikesphilippineretirement]

Steve and Jen remember it is a personal choice No correct answer. Thank you so much for watching

[@tobiasmichaels1050]

keep ur cash in usa banks, and keep medicare too, its such a small amount and worth it in case u return to the states

[@stevenhull5025]

With the US having close to 35 TRILLION of debt paying ONE TRILLION a year in interest I am having bad vibes with the US banking system. It is unsustainable and it is just a matter of time when the pack of cards will fall. In the near future, social security, medicare and a host of others will become virtually impossible to fund.

[@tobiasmichaels1050]

@@stevenhull5025 if thats the case then all americans should stay in the country. the banks may have some problems in the future but there will always be some kind of back up system. social security will always be there , some way some how just in a different form.

[@vincentslusser9205]

Everyone has a different living situation. Everyone should choose the best option that works for them. I'm glad those folks got property diagnosed and cared for in the U.S.

[@rocketman1828]

Hi guys what a great vlog. Paul I'm on your side on these topics. One area you didn't cover was "should you file income tax" and in my opinion the answer is yes. You want to avoid the thought of "the proof of death letter" keep filing your taxes regardless if you owe anything. Most of us on SS benefits don't pay in anymore but by filing you let the Government know your are still alive and kicking. I keep a low profile and having my benefits sent to an American Bank account suits my needs just fine. I have never had a problem using a ATM here in Thailand or the Philippines. My mobile banking works great and I always let the bank know that I am traveling out of the States. Btw... I use my son's address as my own. I went paperless several years ago to avoid unwanted mail going to his house. Take care and God Bless.

[@underdogrescueofflorida2313]

This is a refreshing change of videos. Good to see you both having a civil discussion

[@mikesphilippineretirement]

@underdogrescueofflorida2313 it was fun doing the video with Paul

[@underdogrescueofflorida2313]

@@mikesphilippineretirement I follow you both and had thought about the difference in your approach from your channels. As always wishing you both all the best And appreciate you sharing your stories

[@danielhuntington2116]

At our age (I'm 67) I don't think you can overpay for our health insurance! Paul has laid out some great examples. If Mike were to have a sudden medical episode and have to go back to the USA he could end up on the hook for big $$$$....glad you guys avoided cancel culture on your discussion! 💪 💪 👍 👍

[@randyintthephils]

As Mike said, the cost of going back to the US is a lot more than just medical bills. That has to be part of the determining factors.

[@muhamedhabeeb791]

Depending upon these two opinions, the best of them is the soar-tested one. 😢😢

[@ParisianThinker]

Instead of $174 monthly, Mike would pay around $300 monthly. That's not so much.

[@herbwitt7710]

Hi Paul amd Mike. My two favorite vloggers ❤ Thanks for all the great information and different ideas you are sharing with us.😊

[@Jeffrey-bg8oi]

Hi Paul, I have part b plus United health care for free. United health care will cover 80 percent reimbursement here in Philippines. I also have Mr SSRV VISA that includes Phil Health

[@mikemonroy1]

Excellent video. My military pension goes to my American Bank. My Social Security goes to my Spanish Bank. Whatever works for the individual. Again. Excellent video. You two gentlemen are an excellent Team. Please more Point - Counter Point. The American way. Thank you.

[@mamzellilooo]

Great video. I was a process control engineer (just retired 2/21/24) I would always stress test my projects just to make sure it would work under all conditions. Also depending on the government. But I found away of earning more income despite my Retirement. $37k weekly returns has been life changing, after so much struggles.

[@babytruca02]

Hello how do you make such weekly?? I'm a born Christian and sometimes I feel so down of myself because of low finance but I still believe in God.

[@mamzellilooo]

@@babytruca02Maria Angelina Alexander I really appreciate her efforts and transparency.

[@mamzellilooo]

I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.

[@mamzellilooo]

My outlook on money changed when I realized someone making $200K can retire broke & someone making $80K can retire a millionaire. With the current market movement.

[@KuramaUchiha-id1ow]

You're correct!! I make a lot of money without relying on the government. Investing in stocks and digital currencies is beneficial at this moment.

[@mujibkhaque2376]

Excellent discussion guys