We live in the Philippines me and my asawa for going on 7 years. Unless you want to live as a scavenger or a begger, you won't make it at all on $600 a month. All heathcare here is cash. Even with Philhealth or negotiated discounts you will still need $20,000 in reserves or credit in case of a major catastrophic event. Plus, groceries might be more expensive than America because of value added taxes and import duties. Imports are very pricey too. On a new car, 30% additional due to CIF charges. Medication isn't cheap either and isn’t covered with medicare. Yes the Philippines is a fun and enjoyable place to live with its tropical climate and cultural enrichment. However don't move here based on an economic savings compared to America. Otherwise you will be severely misled and go broke.
If you are able to fully adopt the lower middle class Filipino life style, you can do it with 600 USD. After all, many Filipinos do. I personally wouldn't do that. I wouldn't enjoy it since we didn't grow up like that.
@@theoracle6881 It is. For those who stay here long term/retiring the positives outweigh the negatives. To name some: housing is a factor 3 cheaper than in the West. Public transportation is dirt cheap. Healthcare is much cheaper also. Yes, those have their perks, but if you can live with that and add the immaterial, non economic positives, you will enjoy your retirement here.
Yup, thats Philiipines!:) we only have less than 3 yrs and retiring there. Not perfect but no racists. Everyone are helpful and respectful especially with elders. When they see one in line, they let them go first. Everyone does it happily. Not perfect but people there won our hearts. Super excited:)
I recently lost my job at the age of 45. In addition to having access to Tricare and VA healthcare, I also receive a 9K military pension. I'm thinking of selling or renting my house and moving overseas with my cash, assets, and 401(k). What are some good passive income opportunities?
I'm not sure whether I should merge all of my investing accounts into one. If so, what should I know and how should I respond to this? In addition, I intend to sell my property, which might potentially fetch an additional $200,000. Is it better to put everything in one account or spread it out among several investments?
These are important questions for a financial planner. I met mine at a summit, and with her assistance, my wife and I reallocate our $1.7 million assets between a regular IRA and a brokerage account. She has been handling the investment with our agreement and has helped us recover twice as much as we lost. Currently holding steady and gently navigating the market.
About paying utilities, it always depends where you live. But in cities or capital cities, you now pay online or pay your landlord for your rent using gcash.
Hi Mr. Rey. You may want to interview "Alex Kosh", a young Russian UA-camr. He went to PH after Russia announced its mobilization scheme. He now has a local wife & baby. He may offer a different perspective since he's not your usual interviewee who's older & retired. AFAIK he's also living frugally. (There's a new enclave of Russians in Samal island, near Davao city in the south.) Cheers.
Another great video Re´! I believe Mike made a comparison between travel insurance and full medical insurance which is what Cigna offers. People need to be aware there is a big difference depending on your needs.
@@adventurefreaksss So, I spoke with a Cigna rep. some time ago now. There were basically three plans with different coverage and prices. And, it depends on your age. I'm over 50 and I think it was around $5k per year for just me. This would cover me in over 100 countries (not including the US). It's 'real' health insurance like Kaiser Permanente or Blue Cross for instance.
Please stop the BS that people can retire for under $600 a month. You forget the true costs of traveling to and from the Philippines, visa costs, healthcare and so on. He said he can live on $2,000 a month and that is very doable and that is true. He said he was former military, it doesn't make sense he didn't get an SRRV visa. So if you have $1,500 a month plus a years savings in the bank for emergencies then you can retire in the Philippines. Is less doable if you live like a local, yes, but you don't have a support network like a local, and you will never get the same deals as a local and you won't have access to the same Philhealth and senior discounts that the locals get. But heck no to $600 or less a month, it is not doable at least for the longer term, something will happen, you will need healthcare, you might get robbed of all your cash, you might get wiped out by a typhoon.
Why do u want a retirement visa? You can stay up to 3 years without leaving on a regular visa....The regular visa is pocket change to renew every 2 months, and they just come pick up my passport and deliver back when renewed. I lived in cebu city for almost 7 years, and i would never buy any property, get married, or be weighed down at any time. Things can go south fast, and they have the worst healthcare options,,,,I have been to the hospitals 3 times in cebu city, total nightmare and horrible service and not clean.
Always feel watching your interviews, you are very enthusiastic about all the experiences that your guests are explaining. Would be cool to find out about your own travel experiences, which places would you go to and where you would choose to visit and stay in your own retirement 😊
Thank you Roy. I truly appreciate that. I need to make a video that explains my experience as I've not done that yet. I really enjoy meeting all of these wonderful people and hearing their stories and breaking down the affordable lifestyle for those that tune in. I do really love it. Thanks again!
You need to have savings for your health. Especially if you have pre existing condition like heart disease. healthcare is not good but if you live in manila where st. Lukes hospital is, you are good. Or cebu also is good. In the province, it is hard to survive if you get a heart attack. So u really need to be fit to live in the province.
Great video ... A trike (tricycle) is only a motorbike with a sidecar, some neighborhoods use pushbikes instead, but they can squeeze 3-5 small people in them ... The further south you go, especially in the provinces, English is less used, mostly with the older generation ... The SRRV is cheap for Vets, $10,000 with a state type pension or $20,000 if self funded. Over 50yo only ... Vegetables and fruit can be cheaper in the fresh markets, and some fish or chicken. Any other meats can be dubious for a weak stomach and better bought from the bigger malls (more hygienic) ... 😁
You can choose what kind of lifestyle you want to live. Check out BGC philippines. Like new york but lamost zero crime. Or you can live in the province like this man but good life.
@@jhonnyfromme2109 The Philippines high temperature in 2024 was 53° C, Thailand's high was 44° C, and Cambodia's high was the coolest of the three at 42° C.
@@BasedInBrazilI agree, Baguio city is nice & cool (a little over populated though) and if you want the sea, San Juan in La Union province is few hours away.
I would like to share my experience with traveling mailbox. It works good no problems, but I had wise and when wise found out, I do not have a regular address they canceled my account. Travel mailbox is recognized by the US Postal Service and wise is overkill on their security just a note. If you have a virtual mailbox, some places will not recognize it.
Wise Main office is in UK. But a regular residential address of their clients is mandatory for their license as fintech. All Central Banks require that.
@@adventurefreaksss I'm European and have no knowledge about the exact configuration of an US virtual mailbox. But I doubt it can be accepted. Neither does Paypal accept that. It's the Central Banks that require a real residential address. When you use Wise only to transfer from bank to bank, it probably wouldn't matter much, but if you also use their Visa Card for payment, you cannot do without a real residential address or your payment will be refused by the receiver. Here in the Philippines I have my local address registered with Wise. You can change that when you move, but it requires some security measures. And rightly so.
Retirement visa for ex military needs you to deposit a refundable $1500 in a Philippine bank account (you can also use it to buy a condo if you want), do some paperwork and pay a one off $1400 fee and then you get a visa to stay as long as you like. Non military expats must be over 50, deposit $20000 (still refundable and can be used to buy a condo). These are basic details only. There are other things that apply for a couple of other situations.
Wow what a revaluation!!! Considering you can live for less these are not truthful advisors you need 2k for a quality of l8fe otherwise you live like a $600.00 a month person its a stupid topic because in reality again you can live on less
I'm not sure what your point is? There are many that live well throughout the Philippines under $1000 per month and as low as $600. It depends on the person, priorities and lifestyle.
@adventurefreaksss the point is you can live how for less ? What quality? You can live most anywhere for under 1000. It's how you want to live that matters.
I have a truck also in the Philippines on Negros oriental do you have a plan if you’re in the mountains and break down how would you get your vehicle back? edit the Toyota company where I bought my truck has a tow truck. It’s actually a flatbed roll on. they would take it to the nearest Toyota dealer unless I pay extra.
Thank you for pointing that out! You're absolutely right that not everyone in the Philippines speaks English, as there are many regional languages and dialects spoken across the country. However, English is widely spoken and understood, especially in urban areas, educational settings, and among younger generations. It’s one of the official languages and often used in government, business, and media, which makes it accessible for many visitors and expats. I appreciate your input!
@adventurefreaksss Your information looks like it comes from a Google search. If you visit the PI and venture away from tourist areas and urban centers that have highly educated people you'll find that a majority of Filipinos don't have much occasion to speak anything other than their native language. You'll have a difficult time finding anyone who can carry on a conversation with you in English. It's a common misconception that English is widely spoken in the Philippines. From personal experience Thailand and Cambodia are about equal to the Philippines in regards to English comprehension.
It's because the Americans took over and built schools and taught English that you'll find English speakers everywhere. The reason why English has held on is that from what I remember there are 4 or 5 major languages and over 160 regional dialects. English has become the language of business to make communication between all those groups possible. When the Spanish controlled them they kept the islanders divided. Only about 10% ever spoke Spanish but Spanish surnames are common. When you have a high birthrate and a younger demographic it stands to reason that more and more aren't learning English but if you're dealing with professionals, government workers, businessmen you'll find plenty of English speakers. And movies in English, newspapers too.
Thank for your content. You may be able to survive on $600/mo. especially if that incl. a full garden & chickens. Garden fresh vegis & eggs are very healthy. I'm shooting for $1500/mo. w/ $10k backup, garden & chickens plus a small U.S. real estate invest. I've learned that God, health, love & family are keys to a beautiful life. God Bless you.
Very informative video. Thanks Mike for all the info. Can someone tell me the name of the Interviewer...The owner of this site? aka Anventure Freaksss. Thanks.
Well I've been to both places I've been to Thailand twice Philippines once. The lady I stayed with the last two times I went has been talking to me for 3 years and she couldn't even speak in English at first. I have no issues with Thailand now she can speak some we do Google translate it's a laugh because sometimes translation comes off a little wrong. Language should not be a barrier at all isn't to me. Now Tyler requires so much money coming into a Thai Bank every month and proof of it and that's a little more difficult than living in the Philippines and also Laos is supposed to be pretty easy
UA-cam started implementing more commercials on everyones video. I was watching the highlight football game between the eagles and ravens and there was a commercial every two minutes. Very annoying!
I’ve been living in Cambodia for 2 years. All I pay is $290.US to any Travel Agency and they get me a 12-month, multiple-entry, “ER retirement visa” within 10 days and I’m good for a year. I can renew at any Travel Agency for another year, and forever without ever leaving the country. No bank account to open. No deposit. I’m 55, so no income qualifying. No police background check. No health certificate required. Arrive in Cambodia and get the 30-day “ordinary visa” and in a couple of weeks, extend it to the ER visa as I just mentioned. Good luck! 😎
@@adventurefreaksss - ok, but I also would like to know of other places in Europe or S America where the process is easy for people living on a low income / pension.
How to work with me:
=================================
😎 One-on-one Consulting for planning your move abroad: calendly.com/adventurefreaksss/50min
We live in the Philippines me and my asawa for going on 7 years.
Unless you want to live as a scavenger or a begger, you won't make it at all on $600 a month.
All heathcare here is cash. Even with Philhealth or negotiated discounts you will still need $20,000 in reserves or credit in case of a major catastrophic event.
Plus, groceries might be more expensive than America because of value added taxes and import duties. Imports are very pricey too.
On a new car, 30% additional due to CIF charges.
Medication isn't cheap either and isn’t covered with medicare.
Yes the Philippines is a fun and enjoyable place to live with its tropical climate and cultural enrichment.
However don't move here based on an economic savings compared to America.
Otherwise you will be severely misled and go broke.
If you are able to fully adopt the lower middle class Filipino life style, you can do it with 600 USD. After all, many Filipinos do. I personally wouldn't do that. I wouldn't enjoy it since we didn't grow up like that.
Then why so many come from the US and the west to retired, it must be still better than in the west.
@@theoracle6881 It is. For those who stay here long term/retiring the positives outweigh the negatives.
To name some: housing is a factor 3 cheaper than in the West. Public transportation is dirt cheap. Healthcare is much cheaper also. Yes, those have their perks, but if you can live with that and add the immaterial, non economic positives, you will enjoy your retirement here.
Yup, thats Philiipines!:) we only have less than 3 yrs and retiring there. Not perfect but no racists. Everyone are helpful and respectful especially with elders. When they see one in line, they let them go first. Everyone does it happily. Not perfect but people there won our hearts. Super excited:)
I recently lost my job at the age of 45. In addition to having access to Tricare and VA healthcare, I also receive a 9K military pension. I'm thinking of selling or renting my house and moving overseas with my cash, assets, and 401(k). What are some good passive income opportunities?
Consulting a financial advisor is a logical step at this point, but postponing retirement could be a wiser decision
I'm not sure whether I should merge all of my investing accounts into one. If so, what should I know and how should I respond to this? In addition, I intend to sell my property, which might potentially fetch an additional $200,000. Is it better to put everything in one account or spread it out among several investments?
These are important questions for a financial planner. I met mine at a summit, and with her assistance, my wife and I reallocate our $1.7 million assets between a regular IRA and a brokerage account. She has been handling the investment with our agreement and has helped us recover twice as much as we lost. Currently holding steady and gently navigating the market.
That’s impressive! My portfolio has been struggling. Who is your advisor?
June Renae Matthysse
You are likely to find more information if you look her up online
He could get an srrv for previous military and he would deposit $1500 usd and it's good forever
Yes, I think he's looking into that now:)
But a Devil 👿 of a job to get back
About paying utilities, it always depends where you live. But in cities or capital cities, you now pay online or pay your landlord for your rent using gcash.
Hi Mr. Rey. You may want to interview "Alex Kosh", a young Russian UA-camr. He went to PH after Russia announced its mobilization scheme. He now has a local wife & baby. He may offer a different perspective since he's not your usual interviewee who's older & retired. AFAIK he's also living frugally. (There's a new enclave of Russians in Samal island, near Davao city in the south.) Cheers.
$2K monthly is the minimum to live like a human being in Pinas.
Another great video Re´! I believe Mike made a comparison between travel insurance and full medical insurance which is what Cigna offers. People need to be aware there is a big difference depending on your needs.
Thank you Jack! Do you know what full medical coverage would cost over there?
@@adventurefreaksss So, I spoke with a Cigna rep. some time ago now. There were basically three plans with different coverage and prices. And, it depends on your age. I'm over 50 and I think it was around $5k per year for just me. This would cover me in over 100 countries (not including the US). It's 'real' health insurance like Kaiser Permanente or Blue Cross for instance.
@@jackbaldwin36495k seems to be a lot. I pay 3k (76-80 bracket) with a 2k deductible. Travel abroad included, but not USA. (Pacific Cross).
Please stop the BS that people can retire for under $600 a month. You forget the true costs of traveling to and from the Philippines, visa costs, healthcare and so on. He said he can live on $2,000 a month and that is very doable and that is true. He said he was former military, it doesn't make sense he didn't get an SRRV visa. So if you have $1,500 a month plus a years savings in the bank for emergencies then you can retire in the Philippines. Is less doable if you live like a local, yes, but you don't have a support network like a local, and you will never get the same deals as a local and you won't have access to the same Philhealth and senior discounts that the locals get. But heck no to $600 or less a month, it is not doable at least for the longer term, something will happen, you will need healthcare, you might get robbed of all your cash, you might get wiped out by a typhoon.
Vegas here - Good day
Why do u want a retirement visa? You can stay up to 3 years without leaving on a regular visa....The regular visa is pocket change to renew every 2 months, and they just come pick up my passport and deliver back when renewed. I lived in cebu city for almost 7 years, and i would never buy any property, get married, or be weighed down at any time. Things can go south fast, and they have the worst healthcare options,,,,I have been to the hospitals 3 times in cebu city, total nightmare and horrible service and not clean.
Very true
Yup! set a 2k usd budget but make 3k a month. Keep reinvesting in your portfolio and let it grow. someday u will be old
You forgot to mention the skin tax on absolutely everything you will ever purchase, and also the mandatory donations.
Always feel watching your interviews, you are very enthusiastic about all the experiences that your guests are explaining. Would be cool to find out about your own travel experiences, which places would you go to and where you would choose to visit and stay in your own retirement 😊
Thank you Roy. I truly appreciate that. I need to make a video that explains my experience as I've not done that yet. I really enjoy meeting all of these wonderful people and hearing their stories and breaking down the affordable lifestyle for those that tune in. I do really love it. Thanks again!
@@adventurefreaksss I'm also looking forward to your story!
You need to have savings for your health. Especially if you have pre existing condition like heart disease. healthcare is not good but if you live in manila where st. Lukes hospital is, you are good. Or cebu also is good. In the province, it is hard to survive if you get a heart attack. So u really need to be fit to live in the province.
Great video ... A trike (tricycle) is only a motorbike with a sidecar, some neighborhoods use pushbikes instead, but they can squeeze 3-5 small people in them ... The further south you go, especially in the provinces, English is less used, mostly with the older generation ... The SRRV is cheap for Vets, $10,000 with a state type pension or $20,000 if self funded. Over 50yo only ... Vegetables and fruit can be cheaper in the fresh markets, and some fish or chicken. Any other meats can be dubious for a weak stomach and better bought from the bigger malls (more hygienic) ... 😁
Thank you for this additional information!!
I wish everybody would stop telling that lie everybody does not speak English they speak a little English but more than other Asian countries
Thank you for this correction!
You can choose what kind of lifestyle you want to live. Check out BGC philippines. Like new york but lamost zero crime. Or you can live in the province like this man but good life.
Great interview, and its true, Philippines is nowhere as hot as Thailand or Cambodia.
@@jhonnyfromme2109 The Philippines high temperature in 2024 was 53° C, Thailand's high was 44° C, and Cambodia's high was the coolest of the three at 42° C.
@@KC-in9pxAll too hot for me, Baguio City it is😅
@@BasedInBrazilI agree, Baguio city is nice & cool (a little over populated though) and if you want the sea, San Juan in La Union province is few hours away.
I would like to share my experience with traveling mailbox. It works good no problems, but I had wise and when wise found out, I do not have a regular address they canceled my account. Travel mailbox is recognized by the US Postal Service and wise is overkill on their security just a note. If you have a virtual mailbox, some places will not recognize it.
That's interesting. Where is Wise out of? Are they US based? And do they have any competitors?
Wise Main office is in UK. But a regular residential address of their clients is mandatory for their license as fintech. All Central Banks require that.
For clarification, for US citizens living abroad, will Wise recognize their virtual mailbox as legitimate?
@@adventurefreaksss I'm European and have no knowledge about the exact configuration of an US virtual mailbox. But I doubt it can be accepted. Neither does Paypal accept that. It's the Central Banks that require a real residential address. When you use Wise only to transfer from bank to bank, it probably wouldn't matter much, but if you also use their Visa Card for payment, you cannot do without a real residential address or your payment will be refused by the receiver. Here in the Philippines I have my local address registered with Wise. You can change that when you move, but it requires some security measures. And rightly so.
That noise polution sounds like a living hell.
Lol
Retirement visa for ex military needs you to deposit a refundable $1500 in a Philippine bank account (you can also use it to buy a condo if you want), do some paperwork and pay a one off $1400 fee and then you get a visa to stay as long as you like.
Non military expats must be over 50, deposit $20000 (still refundable and can be used to buy a condo).
These are basic details only. There are other things that apply for a couple of other situations.
Great info! Thank you!!
Wow what a revaluation!!! Considering you can live for less these are not truthful advisors you need 2k for a quality of l8fe otherwise you live like a $600.00 a month person its a stupid topic because in reality again you can live on less
I'm not sure what your point is? There are many that live well throughout the Philippines under $1000 per month and as low as $600. It depends on the person, priorities and lifestyle.
@adventurefreaksss the point is you can live how for less ? What quality? You can live most anywhere for under 1000. It's how you want to live that matters.
Wife and i eat our 2 times a week and each meal together is never over $6 ... but we live in the province in Northern Luzon ... 😊😊😊
I have a truck also in the Philippines on Negros oriental do you have a plan if you’re in the mountains and break down how would you get your vehicle back? edit the Toyota company where I bought my truck has a tow truck. It’s actually a flatbed roll on. they would take it to the nearest Toyota dealer unless I pay extra.
You keep saying that everyone in the Philippines speaks English but that's the farthest thing from the truth. You've obviously been misinformed.
Thank you for pointing that out! You're absolutely right that not everyone in the Philippines speaks English, as there are many regional languages and dialects spoken across the country. However, English is widely spoken and understood, especially in urban areas, educational settings, and among younger generations. It’s one of the official languages and often used in government, business, and media, which makes it accessible for many visitors and expats. I appreciate your input!
@adventurefreaksss Your information looks like it comes from a Google search. If you visit the PI and venture away from tourist areas and urban centers that have highly educated people you'll find that a majority of Filipinos don't have much occasion to speak anything other than their native language. You'll have a difficult time finding anyone who can carry on a conversation with you in English. It's a common misconception that English is widely spoken in the Philippines. From personal experience Thailand and Cambodia are about equal to the Philippines in regards to English comprehension.
It's because the Americans took over and built schools and taught English that you'll find English speakers everywhere. The reason why English has held on is that from what I remember there are 4 or 5 major languages and over 160 regional dialects. English has become the language of business to make communication between all those groups possible. When the Spanish controlled them they kept the islanders divided. Only about 10% ever spoke Spanish but Spanish surnames are common. When you have a high birthrate and a younger demographic it stands to reason that more and more aren't learning English but if you're dealing with professionals, government workers, businessmen you'll find plenty of English speakers. And movies in English, newspapers too.
@@kennethkilpatrick3758 Well said Kenneth! You would be a great history teacher:)
Thank for your content. You may be able to survive on $600/mo. especially if that incl. a full garden & chickens. Garden fresh vegis & eggs are very healthy. I'm shooting for $1500/mo. w/ $10k backup, garden & chickens plus a small U.S. real estate invest. I've learned that God, health, love & family are keys to a beautiful life. God Bless you.
Hi, Did Mike ever get back with the name of the company he has his inexpensive insurance through? Thanks!
Yea, this is what he said: insurance is with Squaremouth, $180.00 every 6 months.
Very informative video. Thanks Mike for all the info. Can someone tell me the name of the Interviewer...The owner of this site? aka Anventure Freaksss. Thanks.
Thank you! Ré Esordi
Very informative video. What is the name of the travel insurance that Mike got for $168.00 per year?
Thank you for your question. Mike sent me this: Squaremouth, $180.00 every 6 months.
@@adventurefreaksss Thank you for your timely response.
What was his insurance he has for extreme circumstances?
Thank you for your question. Mike sent me this: Squaremouth, $180.00 every 6 months.
But getting my dental needs in Philippines because they are the best.
Are you near Dagupan?
No, he's not. Dagupan is in the northeast part while he lives in the central part (island provinces).
Well I've been to both places I've been to Thailand twice Philippines once. The lady I stayed with the last two times I went has been talking to me for 3 years and she couldn't even speak in English at first. I have no issues with Thailand now she can speak some we do Google translate it's a laugh because sometimes translation comes off a little wrong. Language should not be a barrier at all isn't to me. Now Tyler requires so much money coming into a Thai Bank every month and proof of it and that's a little more difficult than living in the Philippines and also Laos is supposed to be pretty easy
Way too many commercials. Annoying.
UA-cam started implementing more commercials on everyones video. I was watching the highlight football game between the eagles and ravens and there was a commercial every two minutes. Very annoying!
There is one issue I am concerned about; that with the retirement visa; a certain amount is needed to put into a bank account !
It is the same in Thailand as well but it's 24k. No deposit required in Cambodia!
I’ve been living in Cambodia for 2 years. All I pay is $290.US to any Travel Agency and they get me a 12-month, multiple-entry, “ER retirement visa” within 10 days and I’m good for a year. I can renew at any Travel Agency for another year, and forever without ever leaving the country. No bank account to open. No deposit. I’m 55, so no income qualifying. No police background check. No health certificate required. Arrive in Cambodia and get the 30-day “ordinary visa” and in a couple of weeks, extend it to the ER visa as I just mentioned. Good luck! 😎
@@wesgraham2262it’s there or Albania for me - easy visa in both cases.
@@wesgraham2262 You need to come on the podcast Wes!
@@adventurefreaksss - ok, but I also would like to know of other places in Europe or S America where the process is easy for people living on a low income / pension.
$600 utter tosh you need $10k for the visa and at least $1500 $600 in the jungle.
$600 just covers basic costs. But you sound like a wild man that could easily survive in the Jungle! That's the true Adventure Freak!!