Retirement

A gentle climate that balances refreshing wet and warm dry seasons. A gentle and hospitable people. Best of all, a dollar-friendly cost of living. These are irresistable come-ons for a wise dollar-pension expense for a retirement in the Philippines.

Hard-earned dollar pensions deserve quality and luxurious value. Retirement in the Philippines has one of the best options for foreign retirees who want value for their retirement money.

Just imagine a dollar exchange rate that is merely some points below P50. That’s a retirement lifestyle fifty times grander in the Philippines—or fifty times what one can have in the US. This is how dollar pensions translate when one spends retirement in the Philippines.

A seven-hundred dollar pension spent in retirement in the US will afford a subsistence, though also comfortable, lifestyle. The US government shoulders some rental expenses for seniors but if retirees opt to buy their own property, government subsidies stop. That’s a burdensome monthly due of at least $100. Then the car cost and maintenance, food, clothing, etc. How about perks for grandkids? How about romantic nights out with the spouse? And how about something left for a bank account?

Retirement in the Philippines gives a lot more value for dollar pensions. A seven-hundred dollar pension, for instance (a fairly common pension in the US), easily translates to P32,900. How would that fair in actual Philippine living conditions?

We take a very comfortable cost of living in Manila and Makati, premier cities. Rent costs P12, 000 monthly for a very decent two-level garaged apartment. Give P3,000 for monthly electric and water bills. Take P9,000 for monthly food allowance (roughly P300 for daily food marketing). Have a P 5,000 monthly shopping or yearly local trips budget. That leaves P3,900 for savings. For retired spouses this budget for retirement in the Philippines is luxurious.

Savings will amount to P46,800 anuualy. In 4 years this can buy a decent second-hand van or mini truck. In six years this can afford a down on a million peso posh condo unit in Makati. American retirees can own a house or building as long as they don’t own the land where it sits. That suits a retirement in the Philippines in a condo unit well.

Retirement in the Philippines equates to a luxurious lifestyle in a tropical paradise. Here one enjoys a people as gentle as their climate. One can even expect royal treatment in Filipino hospitality. Best of all, currency rates give dollar pensions more value for a very comfortable life in a premier city.