bee1lsu
3/19/2017 12:35 EST
We have our house in Dalaguete built and I am planning to retire in 4 years. Social Security will pay me $1700 a month at 62 years, 2000 at 65 years old and $2200 at 70 years old. Would you retire at 62 years old and enjoy life and can I live comfortably on $1700 a month in the small town of Dalaguete?
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siayan
3/19/2017 16:21 EST
I was told by someone that if you retire at 65 it takes until you are 74 to make up the loss of retiring at 62. How long do you plan to live past 74?
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charkee
3/19/2017 18:18 EST
My wife and I live comfortably on $350 a month.
Rent: $150
Utilities $50
Food, incidentals, transport and everything else $150 and this would be an exceptionally expensive month.
We have a vegetable garden and that saves us quite a bit of money.
On $1700 a month you can have a full time maid and live like a king.
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seernai
3/19/2017 21:30 EST
I know guys on a similar budget so yes it is possible so when I see people asking if it's possible to live on $1500 a month , I'm thinking really ? Or even higher again do your research , it is more expensive to live in a big city than on the outskirts or in the Provences , what you need to consider as well is the cost of Health insurance, also what kind of lifestyle you want , if you need to live like in America or any other western country it will cost a fortune live like the locals it's a lot cheaper also do you drink a lot or smoke ? All these things you have to consider the trick is to keep it simple
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draks
3/19/2017 22:08 EST
Take the $1700 a month, will this have a yearly increase or is it fixed for ever?
That's over 85000 pesos per month but of course, four years from now costs will have risen a bit. I live on nearly half that. Unlike some we don't scrimp and scrape to live, we don't live like kings but we have a nice enough lifestyle. But i do get an increase every year. I would not sell your property at home, rent it out fully managed contract. Living here is way way different than just visiting here for a .month or two every year. You may love it here but you may also hate it here, i know several that went home after a few years here, it's not for everyone.,
If you look carefully you can buy things a lot cheaper look for the offers, we recently bought a 49" LCD TV for 13000 peso, now selling at 30000, from Lazada. We look for the offers saves a fortune. Philippines in my opinion is a good place to retire, but it's not for the feint hearted or the naive, life can get very tough here if your not careful.
You got a longtime befode
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bee1lsu
3/19/2017 22:22 EST
It's Social Security so there would be an increase annually, my wife has 3 children I guess I should have included that in the post. One will be finish college by the time I retire and I am in the process of adapting the youngest child and she should also get a check from Ssi.
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