Page 1 of 2 12 LastLast
Results 1 to 10 of 17
Like Tree13Likes

Thread: Hello everyone,

  1. #1
    Sofronio is offline DI Member
    Join Date
    Jan 2012
    Posts
    11
    Thanks
    3
    Thanked 0 Times in 0 Posts

    Default Hello everyone,

    I'm thinking about retiring in the Philippines and I had Dumaguete in mind as a place where I want to settle. I want to retire in 2 1/2 years. I am only going to be 58 years old then, 4 years shy of an early retirement at 62. I just want to live off what I have put aside for 4 years until I can start collecting my social security which is going to be around $2,000.00 a month. I know $2,000.00 a month in the Philippines is a lot of money to live on per month. I just want to spend half of that every month and put the rest away for savings and investments. My question is; would $1,000.00 a month be enough for me and my girlfriend to live on comfortably in Dumaguete? Are there any decent apartments or house for rent in the area which are perhaps 15,000.00 pesos a month or under? I'm talking about western style apartments and homes. How much would our monthly expenses on utilities, such as cable, internet, land line phone service, and electricity be about? Your input would be greatly appreciated. Thanks in advance.

    JR

  2. #2
    Knowdafish's Avatar
    Knowdafish is offline DI Member
    Join Date
    Dec 2008
    Location
    Dumaguete/So Cal
    Posts
    3,038
    Thanks
    489
    Thanked 150 Times in 126 Posts

    Default

    Yes, you can live on $1,000/month at todays exchange rate, but who knows what the exchange rate will be in 2.5 years. Yes, you can rent a house for 15,000p also. I would do a search using the search function and read up on current prices as they've all recently been covered. The other thing is that none of them may be relevant in 2.5 years. Prices change as do exchange rates. Hope for the best, but be prepared for the worst. If Obama gets re-elected I would be prepared for the worst, sorry to say.




  3. The Following User Says Thank You to Knowdafish For This Useful Post:

    Sofronio (10-29-2012)

  4. #3
    Sofronio is offline DI Member
    Join Date
    Jan 2012
    Posts
    11
    Thanks
    3
    Thanked 0 Times in 0 Posts

    Default

    Thanks so much for your input. Yes, I agree with you about Obama. I didn't vote for him in 2008 and it's highly unlikely that I would vote for him this coming November election. The information you gave were very important ones, I appreciate that. Again, thank you!

  5. #4
    darkside is offline DI Member
    Join Date
    Mar 2012
    Location
    Las Vegas
    Posts
    60
    Thanks
    10
    Thanked 2 Times in 2 Posts

    Default

    My cousin Manila says that the exchange rate could drop to P30 to the dollar within 2 years.
    Sofronio likes this.

  6. #5
    jimeve's Avatar
    jimeve is offline DI Member
    Join Date
    Feb 2007
    Location
    uk
    Posts
    1,527
    Thanks
    67
    Thanked 7 Times in 7 Posts

    Default

    Quote Originally Posted by darkside View Post
    My cousin Manila says that the exchange rate could drop to P30 to the dollar within 2 years.
    Allways look on the brightside of life, not darkside.
    Sofronio likes this.

  7. #6
    darkside is offline DI Member
    Join Date
    Mar 2012
    Location
    Las Vegas
    Posts
    60
    Thanks
    10
    Thanked 2 Times in 2 Posts

    Default

    Quote Originally Posted by jimeve View Post
    Allways look on the brightside of life, not darkside.
    LOL.....Liking the avatar (darkside of the moon)...lol
    jimeve and Sofronio like this.

  8. #7
    Dave & Imp is offline DI Member
    Join Date
    Jul 2011
    Location
    Banilad Area of Dumaguete
    Posts
    630
    Thanks
    56
    Thanked 103 Times in 85 Posts

    Default

    I read that the Philippines government was not excited about the higher exchange rate. It seems like many of the OFWs get paid in dollars so their incomes, and the inflow of money to the Philippines is being reduced. Let us hope this group has some influence. It would be a catastrophe to the OFW's if their wages were cut by another 25%. Since one of the bigger exports of the Philippines seems to be the OFW's and so many people here look forward to the monthly incomes from OFW, hopefully the government will try to stabilize the exchange rate.

    What is the name of this thread again?
    Sofronio likes this.
    This is Dave, Imp is sleeping again

  9. The Following User Says Thank You to Dave & Imp For This Useful Post:

    Sofronio (10-29-2012)

  10. #8
    swampstar is offline DI Member
    Join Date
    Feb 2010
    Posts
    71
    Thanks
    1
    Thanked 9 Times in 8 Posts

    Default Exchange Rate

    Quote Originally Posted by Dave & Imp View Post
    I read that the Philippines government was not excited about the higher exchange rate. It seems like many of the OFWs get paid in dollars so their incomes, and the inflow of money to the Philippines is being reduced. Let us hope this group has some influence. It would be a catastrophe to the OFW's if their wages were cut by another 25%. Since one of the bigger exports of the Philippines seems to be the OFW's and so many people here look forward to the monthly incomes from OFW, hopefully the government will try to stabilize the exchange rate.

    What is the name of this thread again?
    If the U.S./Philippine exchange rate hits 35 you will see a cessation of expat resettlement in the Philippines and if it hits 30 there will be an exodus..
    Sofronio and Charlie T. like this.
    Patterns Repeat Themselves

  11. #9
    Knowdafish's Avatar
    Knowdafish is offline DI Member
    Join Date
    Dec 2008
    Location
    Dumaguete/So Cal
    Posts
    3,038
    Thanks
    489
    Thanked 150 Times in 126 Posts

    Default

    Quote Originally Posted by swampstar View Post
    If the U.S./Philippine exchange rate hits 35 you will see a cessation of expat resettlement in the Philippines and if it hits 30 there will be an exodus..
    I heartily agree.
    Sofronio likes this.




  12. #10
    redhorse is offline DI Member
    Join Date
    Feb 2009
    Location
    USA - PA
    Posts
    115
    Thanks
    6
    Thanked 24 Times in 17 Posts

    Default

    Sofronio, good luck with your plans! Similar to mine, although I'm probably going to have to keep working wait until my early SS actually kicks in. This website is a great way to help me keep the "dream" alive.

    Regarding the peso, here's a little less scary view, predicting peso strong but relatively flat at least against he dollar. I do recall reading somewhere else that the Phils Central Bank does take action to keep the peso from rising too high vs foreign currencies.

    Peso forecast to remain strong in next 2 years | Inquirer Business
    Sofronio likes this.

  13. The Following User Says Thank You to redhorse For This Useful Post:

    Sofronio (10-29-2012)

Page 1 of 2 12 LastLast

Bookmarks

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •