Philippines Forum

Rdowns
Joined 2017
Posts: 24

6 years ago

is 200,000 enough at age 53?

6 years ago

The facts: (then my questions)
I live in the US.
I'm 53.
I have a 401k worth ~33,000 since my ex took most of it in the divorce.
If I sell my house and belongings I should end up in the 250,000 -300,000 range not counting the 401k.
I'm looking at retiring to the Philippines in 2019 (as soon as my 17 year old graduates from high school in 2019 and moves off to college.)
I will be coming to the Philippines on Jan 23 - Feb 6th to check it out for the 1st time. (Palawan/ El Nido and Baguio area this trip)
I'm trying to decide where to settle and so far all my research is pointing me towards Baguio (slightly cheaper then Tagaytay??) for the climate. One I move there I plan to spend the 1st several months at least exploring to make sure I KNOW where I want to settle.
I plan to start a business or three eventually but what type may change once I get to know the country better. Nothing full time but something enough to supplement my savings to stretch it out and be more secure.
I don't like big city life, don't drink, don't smoke, don't care for the party life. I prefer the outdoors and adventuring on foot, motorcycle, boat, etc.
the current plan is to decide on a location and build a house on it (or a couple condos/ townhouse???)
I am looking at the SRRV Classic Visa as my best option.
I hoping that in a more rural area I can build a dwelling and end up with around 200,000 left over.
Question #1- is 200,000 enough without starting a business or two or will it be absolutely neccasary to supplement my income. Hoping to live somewhere that I can live comfortably on around 600-800 a month.
Question #2- Is the SRRV Classic the best option?
Question #3- is there any way to become a land owner WITHOUT naturalization and renouncing my US citizenship? (aside from marriage where a future spouse owns the land- that's too undependable :) )
anything else I should be considering?
Thanks in advance for any advice.
Rodney

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