At What Point Are You Considered Rich in the Philippines?
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- Опубліковано 26 лис 2024
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At What Point Are You Considered Rich in the Philippines?
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About me: My name is Gio and I left the USA over 5 years ago to travel SE Asia and live a better life. Follow my journey as I travel around The Philippines showing everyday life and travels.
My channel: Reviewing different islands and cities in The Philippines as places to visit or live, condo and apartment reviews, dating tips, & how to travel and live inexpensively in The Philippines.
Kudos to you Gio in your successful blog. You have a great demeanor for it and I can tell that you are a very patient and kind person. The world would be a less interesting place without you in it. I bid you and Maya health and happiness.
Hey There - Gio what is the song that plays at the end of your video? I tried the song you have listed but its not the same. Thanks
@@prepperjonpnw6482ua-cam.com/video/JbVJcWMysl0/v-deo.html&ab_channel=Befun-Topic
"Content makes poor men rich; discontent makes rich men poor." Benjamin Franklin
Earning 50k/mo is already rich in the PH. Even teachers are earning 25k only. Remember, most are earning 10-20k/mo. If you say 100k then most people in Duma or in PH are destitute.
Foreigners: 100k is rich for expats. Many of them only survive from 40-50k monthly. Filipinos way of living is lower than Filipinos. If 100k is rich for expats, then it's super rich in a Filipino standard.
Home wise: People with TV's, bikes, etc are rich. You live in an apartment you're rich. You live in a subdivision, you're rich.
My POV: If you're eating more than twice a day, you have a home, and healthy, you are rich.
👍👍👍
At the point when she moves in with a foreigner she considers herself to be rich haha
That's the same everywhere.
Smell haterade
She is beautiful! You are a lucky man! Also nice video and info! Thanks!
Thanks 🙏
I should've enlisted at 17 to retire at 37. But I retired earlier this year at 55. I land in Manila in 26 days which will make me feel like 37 again. 😄
Rudy, I think about that all the time. Would have, Could have, Should have :-(
Congrats!! Well at least you retired at 55, most people don't have that option and are stuck waiting on social security only. I retired at 50 with my pension, I feel very blessed!
Lol...yup exactly brother..you should've..lol..I enlisted at age 20 and retired from the military at age 41..instant benefits per month and a great monthly pension for life...I'm very grateful and feel very blessed for doing that..I love having that protection monthly so I can retire and travel..
I love the Philippines and will call it home again come this December..
I retired at 40 been living here in the PH for 4 years now.
hahaha awesome that's exactly what I did but had to retire at 44 because I got promoted, but that's ok only 46 now and loving it here Cubi Point old Navy barracks
Videos like this make me feel a lot more comfortable to travel to Southeast Asia. I don’t consider myself rich here in the United States at all.
But by the time my pension comes in, and Social Security, I will definitely have enough to survive in Southeast Asia. Thanks for the honesty in your videos.
Having enough pension, money, and Social Security money coming in definitely is a relief. I’ll be able to start enjoying it in two years. At 59 years old hopefully I have enough years left to chill in the Philippines, or Thailand, or wherever I decide to settle down. I’ll probably have a place in the mountains and place by the beach. That way when it gets too hot, I can go up in the mountains. I don’t think I can stand the heat. I lived in Florida when I was in the Navy years ago in the summers were absolutely miserable. I definitely want to have two different places to stay one of the cooler mountains, and one down by the beach that would be awesome.
I’m going to have to get a drivers license wherever I settle in to be able to drive a car back-and-forth between hot climate and cooler climates. I love to travel like that anyway keeps me moving. It’s kind of what I do for a living is travel, so moving from one place to another will not be a problem.
I’ve been dreaming about living in Southeast Asia for a couple years now. I used to just dream about visiting know. My dream is actually living there. Once I do, I hope I don’t get home sick for the United States! I don’t think I will, though I’m so sick of the way. Things are going here in this country as far as the economy I think I will embrace the easier way of life or less expensive way of life. I just can’t believe how much it cost to go to the grocery store in the states it’s insane.$$$$
My girlfriend in the province keeps telling me I'm rich but I know if I was in Manila I would be middle class . I can live comfortably on what my pension is if I do my budget properly. Being a minimalist is still a very good idea especially if you have to bug out . Remember the golden rule which is don't invest more than your willing to walk away from. Many women over there are like parrots and will keep repeating "house and lot" and how practical it is. Of course if things go sour it works out very practical for her and not you so just rent and be happy.
Great point. Unless you have enough assets that you don't mind supporting the Baranguay, or her whole extended family. That better be some exceptional "Punani" to get into that situation tho!🤣
Absolutely, if you have enough money, buy property in a country where you can outright own, rent it out and with the income rent yourself a place in the Philippines, same applies to almost all other SE Asian countries where you have no property right whatsoever, or where it's all very grey.
Exactly right Japan is perfect for this great property managers When my first Tokyo condo was 10 years old, it looked 1 years old I can rent both for at least $1000. But a 4 plex or 8 story building is a better investment.
For ex-pats who live off of 2 to 3k monthly in PI, I would call it living "comfortably" especially when one is free of rent/mortgage. Back here in the US, 2k or 3k is definitely NOT going to be enough especially when you have a $2,500 mortgage and that's not including the car payment, car insurance, groceries, electricity, internet, cable, health insurance, and miscellaneous expenses. But then again, it depends on one's lifestyle or what one's earnings can AFFORD.
It's sweet the way she gazes at you as you talk ☺
Another great video. I'm really happy I came across your vlog. I'm headed there in June. Can't wait. Please keep doing what you do.
rich > 219,140 and above. upper middle 76,669 to 131,484. middle 43,828 to 76,669. lower middle 21,914 to 43,828. low income 10,957 to 21,914. all amounts are on a monthly basis.
Where did you come up with those numbers??.. You're way off bro...like Maya was saying..lawyers doctors only make like 100k ish pesos a month...and it goes down hill from there fast..
Most people there only make on average right at 10200 pesos a month...
As for an American Expat like myself whose retired from the US Military and makes about 150k pesos a month..we're doing well there due to our monthly pension...
@@dennispetty4405 Those numbers are not way off. They are correct. Those numbers are from the Philippine Statistics Authority. Those numbers are for a family of 5 though. I will post the link in a comment below.
That sounds right to me
I grew up in Philippines, went to private school growing up. Families referred to as rich owned their house at least (maybe other properties as well like farm), had a car with driver picking up their kids at school. Although my dad was a lawyer growing up, because there were a lot of children to raise and my family owned properties with a car, my family was considered middle class. My classmates in kindergarten/high school were mostly wealthy and had the comforts I didn’t have. Classmates in college were mixed income class. It is not about how many cars the rich own, rather the comforts they can afford. I think doo fus’ numbers are right.
@@dennispetty4405 What doo fus said is actually correct. A list was released by the government of what income you can be considered rich or poor.
As a matter of perception, some Filipinos would think foreigners are rich because they were able to travel from a foreign country to the Philippines.
Agreed, it’s all about perspective. If you are allowed to breathe the air without having to wear a face diaper….you are rich.
Good topic to give a dose of reality here. Especially for Filipinos. This is something I have battled with every time I've been in the Philippines and frankly even American people think somehow I have money well there is a confusion between having a little class, or actually having money. The truth is my current income is about 45,000 pesos, well under poverty level most people can't even survive on that here in USA. If I'm in Asia or Philippines, that is about enough. I have forgotten the the Visayan term meaning cheap farang... but that would fit me only in financial limits. Thanks for the topic
🙏🙏
is the term "kuripot"? LOL, had to think about that one
I’m Canadian living in southern Shikoku, Japan. It really depends on your lifestyle. I can live quite comfortably on about $600~$700/month including my property tax, home WiFi, electric/water bills, etc. which is very low I think. I don’t eat or drink out in restaurants or cafes. I don’t have a car or motorbike. Only a bicycle is fine with me. I only buy what I need which is mostly food from the supermarket. I live a very simple life. I think I could likely live on a similar amount in the Philippines. I couldn’t imagine spending $1500 ~ $2000, unless I really increased my standard of living a lot.
Hi Gio, I’m Canadian living in southern Shikoku, Japan. I am certainly not rich by N. American standards. Much lower than middle class which doesn’t exist anymore. In Japan, I have been earning $25K as an English teacher. Your monthly budget really depends on your lifestyle. I can live quite comfortably on about $700/month or less including my property tax, home WiFi, electric/water bills, etc. which is very low I think. I don’t eat or drink out in restaurants or cafes. I don’t have a car or motorbike. Only a bicycle is fine with me. I only buy what I need which is mostly food from the supermarket, plus my utility bills. I live a very simple life. I think I could likely live on a similar amount in the Philippines. I couldn’t imagine spending $1500 ~ $2000/month unless I really increased my standard of living a lot.
I have lived in PI for 7 years, but coming for 25 years. You need a emergency fund for medical emergencies, and i have had a few friends here who did not have enough cash for emergency needs. They had to get stabilized here, then flew back to USA. Even if u have insurance, most of the hospitals want their money upfront. goodluck
Cool, 😎, fun to watch you guys, thx a lot
Very nice conversation piece! An interesting topic would be RICH vs. WEALTH in P.I? Awesome video guys!
That breakfast looks delicious. I'm headed to Lapu Lapu City for a few months next Spring. Super excited.
I'm living in Dumagete also I'm from the USA, I agree definitely with all! Great video ❤
great content! and on top of that, being far from western nonsense, well this is priceless...
Good video, it makes you realize how spoiled we are in the US, where most get Starbucks every day and go out to eat every weekend or more!
So true!
Very good topic to talk about with Maya Gio and yeah a lot of Filipinos think that if they see a foreigner here they are rich which is hardly the case for most expats
Starbucks in Cebu , there are certainly more than enough customers to sustain coffee shops , and many more expensive establishments .
Hi Gino - a lot of you vloggers talk about and interview Filipinas on the subject of being considered “rich”. Yet, Filipinos never seem to consider future income or savings in the equation. Would you consider doing a vlog interviewing some westerners asking how they plan to support their Filipino family when they are “gone” especially since a wide age gap is so prevalent among mixed marriages there. I know most filipinos don’t worry about the future but westerners are “planners”.
Absolutely, they are more of a live in the now and not plan for the future types.
Any foreigner that takes on the responsibility to help raise and pay for the education of another man's child is being incredibly kind and generous to the single filpina mother. That child will be the legacy of that filpina and will likely help support the mother when the foreigner is "gone". That is the lasting gift of the foreigner. And most filipinas know that hence their attraction to foreigners.
@@joshuarizalforeman816 👍👍👍
U have a point der buddy. Cheers
Something people tend to overlook in financial planning is 2 things.
First buy a life insurance policy but instead of the money going straight to your Filipina have it go into a trust, which leads me to number two.
Set up a trust or living will sort of arrangement. You will need a local attorney for this but it’s the best way to take care of the ones you leave behind. The life insurance payment will go into the trust plus anything you put into while still alive. You can set the trust up to be invested in low yield but safe places. Then after you are gone it will pay her monthly whatever amount you have predetermined.
The trust ensures that she will have an income for life. If she were to get all of the money at one time it would probably be gone in 6 months to a year. Then she would be back to the way she was before you met her.
So I seriously recommend setting all this up now as in don’t wait another week do it now.
Personally I put about 10% of my income into the trust plus I have a decent size life insurance policy of $500,000 USD. Also the trust is set up so that when she passes it will continue paying out to our children and then their children. The amount per month it will pay is just over $2,500 USD. Which is just under ₽150,000 pesos per month. Since the house and land as well as our vehicles are all paid for that is more than enough for her and the children to live on.
Also, when the children reach a certain age it will start paying them as well. Not a huge amount but more than enough to ensure a basic level of stability at $1,200 USD per month or ₽70,000 pesos per month.
I did all of this because one the obvious is taking care of my loved ones and two I didn’t want to bring my filipina up into the upper middle class and then I die and she drops into the lower class again.
It takes planning and a good attorney but it’s the right thing to do.
If you follow “The Filipina Pea” UA-cam channel she has a few videos with her attorney Grace. You can get her contact info from those videos. She is very good and helped me a lot. Cheers
Gio you and Maya make a great team together. We get your thoughts and opinions from a expat point of view and hers from a locals point of view so that gives us the complete package deal. If going to the Philippines it’s best to be poorer than you really are and your actions will be mainly what your judged by. If you eat out every meal then they will see that. If you do anything at all to show you have money they will see that. If you brag about it nobody will be impressed but they still might help take some of that piled up cash off your hands. If you win the lottery just act like your just getting by teaching English or something and act the way. If you want to flaunt your wealth then go to Hollywood with likeminded people as the Philippines isn’t the place for that and your going to stick out like a sore thumb.
You can only be rich in your decisions the amount of salary,job,status, cars,house,jewellery, items, business, lifestyle is how you use your path choices you don't need to be poor or rich to be considered by the amount of money you have...it's only the surface of that (facade)or judgement we perceive.overall great topic.
excellent work, you guys, you took us along on your journey, appreciate Maya's honesty concerning PI culture, and your questions Gio, onwards to the waterfalls with you guys !
Thank you so much!
@@GiointhePhilippines
Look at it like this: It costs about $2500 to $3000 for a plane ticket ftom the states to the Philippines. That's no small change for most people. And considering that it's nearly impossible for a foreigner to get a job in the Philippines, they have to have some source of income, usually social security or a military retirement. Either of those sources is usually significantly more than the average Filipino makes per month. So yeah, if you're talking about it in those terms, foreigners in the Philippines are "rich"
Good info. This makes me think that life could be quite nice for me if I moved there. Never considered myself more than middle class so this is promising!
Hi Gio and Maya. I am considered rich by my family and friends but I am even scared to go inside a Starbucks or any coffee shop just for their coffee. Some people will categorize you as rich and some will think you're middle income. Some are pretentious just to show that they are someone of higher status. Some who are truly rich are actually simple people and do not show their wealth. But in General, you are considered rich on the surface if you have a big house, travel abroad, always dine out, always order food from grab/food panda, and dress up with jewelry. If you really dig deeper, most of these people who are showy of their wealth again (most of them) have a lot of utang (debt) in most cases bad debts.
Yea, I agree with that.
How nice a car one drives is not always a good gauge as to how much money they have. Some people that have nice vehicles owe allot of money on the vehicle. By the current exchange rate as of 2/28/24 my monthly income with my U.S. pension plus Soc, Sec. is 312,115p per month and I drive a 1994 Corolla. It's a exceptionally nice Corolla, but it is still 30 yrs. old.
So I guess most of us foreigners… In a developing country. Maybe changed my plans Hmmm. Can’t always judge a book by its cover… Best friend over here 🇨🇦 dresses like a bum … Hardest working bum is a multimillionaire lol.. just his style. So maybe in order not to draw too much attention… Head over be polite/humble in appearance… Be a sleeper lol. Another great vid Gio That ending!..Yes you have gone off the deep end!💕 congrats 😎🇨🇦
Beautiful setting for coffee! It's nice to be rich ;)
You got that right!
Great video as always good thx very much
I think there is another dimension to consider here. Retirement income is one thing. That depends on the individual's planning and saving during the earning/working years. Earnings capacity in the US nowadays for a normal middle level professional is 80-90k.+ benefits. The bar is set differently in a 3rd World country. The earnings ability is higher in our great nation. Definitely not to be understated. What you can accumulate in 10 -20 years for that "retirement" will blow past your $2,000 per month definition of rich. Peace.
our expenses are much higher though, so the savings rate is not that great. I couldn't imagine at 30 what my monthly living cost is today.
She's right about the car payment and showing off.
I agree with one of the commenters below that this is a superficial discussion. Having said that here's my contribution to this discussion. 🙂 Rich is a relative term in any country. For example, the same 2,000 sq. ft. house placed in Westchester County, NY has a completely different value as to being placed in Smithfield/Emporia, VA. On paper the NY owner's home will have an appraisal value thousands more than the VA homeowner, even though they have the exact same house.
It seems to be a similar dynamic at play in the discussions of "rich in the Philippines. If a person (man in this case) 1) Has a net of $2,000 after their obligations are met; 2) Lives a life relatively proportional to to the economics of the Philippines; 3) Does not bring his western values spending habits with him, it appears he can live a more personally fulfilling life in the Philippines. Such a person has a chance at a truly satisfying "2nd Act" where he has great female companionship (even new family) if he so desires as well as enjoyable life activities. Such a person will have given up the western-driven definitions of "rich" as a necessary part of the adjustment period. This person will likely move to the Philippines, find a woman whose values best line up with hisr own values and settle into the process of building the personal relationship that compelled him to move there. On the other hand, the "Good Time Charlies" will mess things up for themselves in the Philippines or anywhere else they go. Just my two cents worth.
10:25, great question!
It sounds like Indian people ….good to know that Filipinos & Indians are no different 😊. Maya is a really good, strong charactered girl….you are very fortunate my brother Gio….best wishes to both of you 😊💐🎉🎊👍
A lot of people do that in the states, they'll drive an expensive car, wear designer clothes and jewelry but live in a rundown shack in the bad part of town. Those are the clowns who are in debt trying to show others that their rich. I find it hilarious! As for driving I refuse to drive in the Philippines, I have no problem walking or calling a Grab and if I need to go a long distance, I rent a driver..........it's just cheaper for me in the end! I'm retired with a government pension, I downsized and sold everything and have become a minimalist. I'm not dressing up to impress others, if anything it protects me from not getting robbed....looking poor in other countries can help you from becoming a victim.
Yeah I was just talking about that with a friend today how backwards a lot of people are here in the states. I live in a big condo building where about half the units are owner occupied and half are owned by people who just rent them out. Its a decent place, but its relatively cheap, and I've seen some cars out in the parking lot that you'd probably assume a millionaire owned, not someone in their 20s or 30s spending a larger percent of their income on their car than they do on their rent lol. Its absolutely true they keep themselves in debt trying to show they're rich when they aren't.
The crazy thing to me has always been how many people will spend their entire lives in debt living on the edge like that when if they just went minimalist mode for a couple years they could be debt free and ironically have more money to spend as they wouldn't be throwing away thousands of dollars a year paying interest on loans.
@@randomyoutuber308 True dat! But there's an old saying "Poor people show off their cars, Rich people show off their house!" I'm far from Rich, but solidly middle class, haven't worked paycheck to paycheck in a couple of decades, modest home paid for, so I feel ahead of the game. I have a newer Honda in the garage, and a 10 years old Ford I daily drive, so as you said, probably won't stick out or become a target out in public.
I’ve literally been watching moving to the Philippines vlogs the last 5 days I want to move to the pinas now lol sell everything and just rent there … my expenses there would only be 40% than what I’m spending here in Canada
Gio looks like Jeremy Renner, I think. I like the videos...! :)
GIo, I appreciate your videos. I've learned a lot about my future move to the Philippines. I'm getting to know a single mom, with a 13-year-old son who I like a lot. I'm 66 and have three grown kids, and can not have any more children. I'll only have my Social Security to live on (+/- 90 to 93k)I already know what my girls' expenses are, and I think we can live comfortably. We won't be rich, but I think we should be able to survive and even put her son through school. What do you think? I'd love to get more insights from you. Thanks. John
Gio, you mentioned that most expats in the western world make at least 2k when working in their home country and are therefore considered rich in the Philippines. The problem with your math is, that even though they make 2000 bucks at home and saved the money to travel to the Philippines, they still have to pay their rent and all other obligations at home. I wish the Filipinos would take this into consideration, as most expats end up with a whole lot less spending money and are by no means rich. I do however understand, that in comparison, no matter where the foreigners is from, is still better off than any average Filipino.
That is a very valid point Rocco.
Bear in mind that this is from a point of view of a typical Filipino who’s exposure to wealth is limited by movies, TV shows, and to a certain extent, expats who go on drinking or eating binges. Walk a mile in their shoes… It will not matter what we say, this wealth paradigm for them remains unchanged.
@@Jon_Mind-Over-Matter_Official
I'm rich
I think it's fair to say that Gio is speaking to the core of retiring as an ex-pat. He speaks often about "minimizing" before relocating, meaning essentially to rid yourself of both expenses and possessions from the country you are moving from.
I've said that about expats who don't "Burn the Ship" and totally relocate overseas. I would think a lot have to maintain a "Footprint" in the US, and keep the door open to returning at sometime. Also, as I don't know how the current Expats get around it, but a US mailing address must be maintained for SS, or pensions, plus US bank accounts, so there will be part of retirement income alotted to that. But I can see from the Philippines perspective, as it's what you know from your experience in life.
You two are such a great couple and I am really happy that you do these videos. They are helpful to keep things in perspective.
Thank you so much!
I'm now poor cause I just paid $826 for a roundtrip ticket from San Francisco to Manila on Singapore Airlines in October! But I found a good deal on a condo in Manila to stay at so I'll be ok 😁
$826 doesn't seem bad for round trip to Asia and back. Enjoy!
Try $1,476 economy one way from Detroit.
I payed $2,000 and that’s not including my domestic flight to the international airport.
Hi Gio. Wow, didn't realize that my social security and small V.A. disability check would qualify as being rich. I'm barely able to make ends meet here in Texas.
I'm from Texas, get out and go to the Philippines!
Yeah bro..come to the Philippines..you'd do just fine here...the US has gone sky high and full of daily bs..leave..it's so much more happier n peaceful here!!
Some rich Filipino you didn’t even know that they are rich because they not wearing fancy clothes, jewelry etc. and if you are only working here for me you can’t consider rich because of expenses but if they are working same time having a good income business for sure for me I can consider that they are wealthy 😊
An old fashioned saying in U.K. for this is *fur coat no knickers*. Going out paying for expensive meals labelled clothes flash car but nothing put back for a rainy day. Simple life= happy life. Rent somewhere in Dumaguete for 15-20,000 pesos a month drive a scooter. Rich= what you have materialistic things wealth= assets things that produce money.
Well said!
@@GiointhePhilippines another good philosophy is when buying outside of your own country don’t buy anything you aren’t willing to walk away from.
I recently got invited last minute (2 hrs before the dinner) to a birthday 🥳 dinner party 🎉 with a girl 👧 I just met > I asked a close Filipino friend about the etiquette on the bill payment at the end of the night > he said they invited me so they generally pay 💰 well… the end of the night I was stuck with the bill 🤪what the….
That doesn't seem right
Invite the Farang! He's Rich!🤣🤣🤣
Why would you pay it?
"I've never met these people before in my life."
Pay for your own dinner and enjoy the show. I'd be lmao.
How much was the bill I’m curious ?
Gio.....what a decent tip on a 1K tab? Obviously in US it's kind of the 20% rule....I typically would be a above average tipper stateside.
But what considered a good tip on a 1K tab at coffee shop, restaurant or bar?
It's advantageous to have Maya there to offer a local perspective.
No Gio , we travel to Europe when I used to live there.
Rich or not, I don’t think it’s wise to flaunt it.
When I go there, I hope to live simply and keep a few nice things.
Better to be low key
Sadly, there are many who aren't wired that way. They have to brag just for bragging sakes.
$5000 a month profit in the PI is considered Rich for a Foreigner
It would be like getting a big raise to move to Mexico or the Philippines.
I would SAY more like $3000 in the PI would be RICH... In the USA you would need 5 million too be RICH now of these DAYS...💲🎭 GOOD talk.. Aloha guys..
For anyonme wondering what the outro song is
"Befun - Befun"
I freaken love it!
True wealth is unseen...
Net worth is how I determine rich. You can earn US$2K a month from a pension but if that's all a person has with no investments or paid up properties then that person is "Hand to Mouth" Rich. A person that owns his residence with no outstanding mortgage and generates income (outside of his main job or pension) from at least US$1 million of assets is what I consider rich in the Philippines. There are a lot of Filipinos that reside in gated subdivisions that fit this criteria.
I disagree. Having a pension plus SS guaranteed income is not hand to mouth. All the material stuff you mention you can not take with you when you die. I've owned homes; don't own now. I rent and travel and live a very rich life. Plus I save a ton of money
I do not have a job. I'm retired and collect a teachers pension., almost 4K per month. I do not wear jewelry. Don't drive a big SUV. I live in an inherited 1,000,000+ home at the beach. It costs 3k per month to maintain this house. A reverse mortgage pays for my trips to the Philippines. Perhaps you should explain this to your GF? I stay in nice hotels in Angeles. This winter I will spend my time in Cebu.
I guess I'm rich there but, when I retire and become rich in the Philippines, I will only get half what I make now. Even though I know I can live on that, it still scares me.
Did you ever get to set up your account with Charles Schwab? Can you even have an account with the Major investment houses like Vangard,Fidelity and actively add money or buy and sell stocks while you are living outside the U.S???
35 years old here, have no kids, never been married or been in a relationship. Getting a Lamborghini (not a joke) when I retire in the Philippines in 5 years. If people with SUVs are considered rich, where would that put me?
Jeezas! That's a lot of sugar 😳. Great video though 👌
That was creamer
@@GiointhePhilippines Ohh, that's a relief man 😅. They don't serve real cream with coffee in the PH? Or is it location specific?
I think you usually have to ask for milk or cream otherwise they just give you the powdered at many places.
Hi you two are looking good together and working well together
Thank you 😊
I'm 30 years old, Filipino American, work in private equity in NYC and made $700k (40 million pesos) last year. I live a very middle class lifestyle in Manhattan, nothing fancy. My MDs make maybe 10x more than I do and I have friends in their late 20s make millions so it makes me feel poor in comparison. Crazy how perspective changes everything. I can't even imagine $20k being rich even in the Philippines. I thought it would've been closer to $60k at least.
oh come on, 700k a YEAR you are RICH. i have buddies that own in manhatten stop lying LOL but props to you for making that money :) idgaf what you say lol if you have buddies making 10 times so 7 MILION A YEAR you are either one.. lying. or 2. they are RICH AF LOL heck 10 million net worth puts you in the 1% and you rsaying they almost made that IN A SINGLE YEAR lol im assuming you are lying but i dont wanna be an ass. and maybe you are telling the truth.. plus its not like 7 million usd would ALL be profit... taxes ect... but comeonnnnn LOL. 700k does not make you very middle class in manhattan you are rich in manhatten with that lifestyle LOL rich af. or at LEAST VERY upper class. very much.
im sorry but your either delusional and dont know how rich you are.. or somethings off
Subscribed..why? Excellent info. I am looking at the Philippines not as an Expat, but rather somebody who wants to come over with his wife and spent 3 months twice a year eventually (I haven't been there yet). So looking at the cost as an Aussie (or German having spent most of his life in Australia), this isn't THAT cheap. US $2000,0 is about AUS $2940,-. Take in consideration that you never actually get that great exchange rate and we are now talking about AUS $3000,- + compared to US $2000,-. That's fine if you are working, but we assume that people are retired.
The normal pension here would get you AUS $1800,- which is around 65000,- peso in real money...so no living on the rich side there, assuming they have no other income. Australian pension calculation above is for a single person only.
So just doing a bit of rough maths in my head and I would need at least 1million Australian Dollar, assuming you still have 30years of life in you.
A Lower Australian middle class person here could probably generate AUS $600,000,- if they liquidate their assets while an upper middle class can generate the 1million dollar plus..again if they liquidate their assets.
Note: Here the pension age is 67years. So a younger Aussie would require to either have Superannuation or some other way that auto generates an income.
So in a year or 1 1/2years from now, we come over for 3weeks and check the place out...see if we like it (I am going to be very busy until then).
Thank you for subscribing, take care.
You forgot one aspect of being categorized as "rich", that is the amount of money they have in the bank, the value of real estate they own and/or amount currently invested in stocks or bonds. Most people look rich (nicely dressed), drive decent cars, live in decent houses, and throw parties but have no real emergency fund. A major emergency sends them to a wealthier relative to borrow money. And there are some who dress and live modestly, drive average cars but, for all you know, have their future secured thru long term investments.
Being extremely rich here (yes) it’s a different lifestyle. Method of commuting. Armed security. Celebrities and politicians as neighbors. Travel by helicopter if you only knew.
I'd be interested to know what gear you use (camera and entire kit, accessories, etc), your experiences and recommendations for aspiring vloggers. Thank you.
I have it listed towards the bottom of the page in this link.giointhephilippines.com/shop/
@@GiointhePhilippines thank you. I see the Pocket 3 is being released this month and is highly anticipated. Cheers
Miss most of it the shop look nice iam not a Starbucks fan like small places like that
That's it? Well still got some good info. Thanks Geo. Can you compare traffic there with traffic on 1-4 in Orlando?
No easy comparison. The are no fast highways in most parts of the Philippines. Most are just two lane roads … so think of slow paved country roads in the US. There are many four lane roads, but everyone parks their vehicles along the sides, such that they become essentially two lane roads for actual transit. Basically, virtually nothing moves faster than 40 to 50 mph, and that on the few 6 lane roads … 20-25 mph on almost everything else. And yes, stack hundreds of vehicles trying to transit during rush hour traffic on a two lane road that has plenty of intersections, but no stop lights … the movement can be horrendously slow. The main traffic law here for cars and trucks: if your vehicle nose is there first, you have the right of way, so everyone pushes to clog up the intersections. Motorbikes cheat and skirt around the slowed cars, but that puts the riders in physical danger.
I've watched some of those Philippines driving videos, seems like a scene from a movie! But real life. Crazy.
Another great video. Hey guys I promise not to ask this again but I can't find the video where you told me the name of the song and artist of your song. That thing just changes my mood immediately when you play it after these great videos. Thanks in advance, I'll write it down this time.
The song is called "Be Fun" the group is also called "be fun"
@@GiointhePhilippines Thank you!
Good morning Gio and Maya you consider rich in the Phil, it depends upon ur income and if u are pensioner specially if u are a western and live in Phil..u are a rich just like my husband a retired navy, so he can afford anything..
Yes pensions from the West US and UK where I'm from can be sufficient especially as you may have both a private pension from your retired profession and a state pension also from the age of 66
Interesting for somebody who will go to the Philippines for 6 months and see if this is the place to be.
2000-3000 USD/mo income range is only considered as upper middle class, you need to be earning 4000 usd/mo to be considered “rich”
Yeah Maya originally said 100k PHP was "well off," but Gio changed it to "rich," maybe not the most precise way of discussing the topic
Beautiful place, I love it
Gio you do realize that your beautiful wife is truly makes you rich as well.I noticed that she does not wear any engagement or wedding band. Is it not customary to give an engagement ring or a wedding band when you Marry in the P I??
I believe it is yes. My wife has both but often engagement rings are not affordable for most.
I'm 71 years old, where do I have better options to meet girls for girlfriend in CDO or Dumaguete .
can I have your opinion please.
thanks
To be honest, my house in Sydney is only valuable due to it's location & land size. However if I magically transported that house to Dumaguete, they'd think I was poor.
How is the tyranny down under?
i'm hopeless with money. My lady is excellent. I seem to spend money so easily but I dont go out and socialize, drink or do any drugs or chase other women. I get an allowance from her but also have two private accounts to draw on.
I am retired with small govt pension and some investment income...not rich! But here people do tell me that I am rich. All relative I suppose. If they only knew what it costs to live half decently in the States! Oi !
My house and vehicles are paid for or I would consider myself poor in the US....and would not be able to afford a daily Starbucks there.
Sounds like 90 percent of us here in the US.
I really get tired of hearing that I'm a rich foreigner ,like someone just give us our money. I Live here off 1,033 $ a month alone.
Sadky my inqconme is in $ AUD at 38 php tp the $.. my pesnion and income from investments is OK but the exchange rate is reaqkkqy bad.. last year it was 45 -48 PHP to the Aussie but I am confortable nontheless and I must be rich as I own my own 3.9M house here in Cebu!!!
How much does a job in the Philippines working at Starbucks pay full time? To supplement retirement income.
Is there health aid available to US military vets at American embassies or military bases?
VA Clinic in Manila will see you for your service connected disability.
@@GiointhePhilippines Thank you Gio
hello guys, question. What are the opening hours for the Sunday Valencia Food Market? Thanks.
I think 7 am
how about showing us the malls in Dumaguete
Good morning .... you must be related to Jeremy Renner the actor.....
Garlic rice, scrambled egg and bacon, my fav Philippine breakfast 😋
Retire and live like a king in the Philippines on $2,000/mo.
If you have $300,000 invested in dividend-paying stocks/ETFs, with average annual yield of 8%, you can generate $2,000/mo income WITHOUT touching principal.
8% is a pretty high risk yield so can't be trusted to support someone for life
Maya speaks English well, and the way she looks at you Gio 😂
Gil what town do u live in
You have no idea if a person is rich by there house, car or clothing.
I completely agree with you. A lot of people live above their means to try and impress people and I have known multi millionaires that just drove regular cars, lived in a simple home and didn't care about what people thought about what they wore. Can't always tell a book by its cover..
@@markj6565 exactly, rich people have nothing to prove plus there usually smart with there money.
@@markj6565 I know some local people who are well off but dress like ordinary folks do. The owner of a local milk manufacturing company here told me once that he is rich because all he eats for breakfast is rice porridge.
She is basically describing you! LOL!
He did do a budget video and he does spend close to $2,000 a month. So Gio is rich.
What is the income tax burden that an expat can expect over there? I'm recently retired and about half of my income is from a completely tax free Roth Ira. I suppose I'll have to pay tax on that income over there.
Just got my average monthly dividend payout up to 3k this month. Shooting for 6k a month before I retire and leave the US. Looks like I'm gonna be beyond rich lol. I'd love to pack up and leave now but I'm still in my 30s and the last thing I want to do is to realize in my 50s I have to go back to work. I just hope in a few years when I'm closer to my number inflation rates are back to more normal levels and I can retire into the start of a 10 year bull market!
The future is never guaranteed. The "Bull run" in the US was actually financed by deficit spending. I personally, being 61, saw the Dow at 800 in 1980. The National Debt was under $1 Trillion. How much longer asset expansion can occur before the bills come due is anyone's guess. Just remember, in Japan, the Nikkei was 25,000 in 1989. 33 years later, it's not really gone up. Just saying.
@@bigjohnson7415 Sure, that is why I'm going for dividends and shooting for a number that is going to likely be triple my monthly budget. Even if we have a period of the market moving sideways I'm not really banking on growth to make the numbers work...I really just need about a 20-25 year period where my purchasing power doesn't get crushed by 2/3rds to coast me through until my 60s when I can collect SS and a half a pension I'm vested in.
The future is not guaranteed in more ways than one. I don't really want to be a corporate drone until I'm in my 60s because of some fear that the markets are going to implode just to end up with many millions I'll never spend. I'm just looking to find a balance between being able to retire young while having little chance of failure because I'm starting off with a nice cushion and using conservative estimates for the future and not counting on 8% growth or something that very well may not happen.
If $2K/month is Rich then im Super Rich lol,but a minimalist,so you wont see me driving expensive car or live in a big house & all that materialistic bullshit,you would think im poor.
Cant wait to move to Cebu.
Minimalism is the way to go!
Dam gio I guess I'm rich ony way lol just be able to pay the bills have money put away for emergencies money for needs and wants
I was sandy too last week at the beach