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Hi Gio I am coming to Philippines in December and I really like to know how much money I need to enjoy my vacation example hotel room, island hopping etc
Hi There, Nice to Meet You. I'm Planning on Saving for At least 2 Years & Relocating to Philippines with around 12,000 in Hand. Plus I'll Have Obtained My Passport By Then. Guess I'm Asking for Advice for Californian Native. Should I Take Stack of American Money & US Coins!!.. :). Thanks & I'll Probably Think of More Questions. 🙏
What kind of work could I find out there? Big and small jobs, this is very important and no one ever answers this question. I will subscribe if you answer.
Air bnbs can be found around $350-600 per month, they are fully furnished with power and internet included. This seems like a good option. Shop at markets rather than grocery stores ect. I can see how people can live pretty well for 1k per month. If you’re living like a tourist of course it would be much more. Most Philippinos earn $300-500 per month, if you can’t live on double to triple that then you might be doing it wrong.
Word, i plan on living on 1100 dollars a month there and wont live a life of luxury but a pretty simple digital nomad life, cooking my own food and hitting the gym all week and then have some fun on the weekend.
Great video Gio! To those visiting any country for up to 3 months, GET travel Insurance all 3 months and PROTECT your HEALTH! To those making a permanent move to any country, GET travel Insurance PLUS make sure to know already which Medical Insurance you will buy and know your deductibles/coverages BEFORE you move. If you cannot or don't get these insurance policies, you are PLAYING with your health and RISKING your life!
One of the best vlogs I've seen. Really like your honesty and knowledge. I lived in Costa Rica for a year so I know what it feels like to overspend. Good Job
My first week in Thailand I had a weird unexpected expense. I opened my Thai bank account and went through the process of setting up wire transfers from my US bank. I initiated a $100 test transfer. The next morning I found my accounts and credit cards at my US bank were frozen. They suspected fraud. They insisted that I come into a bank branch to present two forms of ID to unfreeze the accounts. I had to borrow money from a friend to buy a plane ticket to the US to unfreeze the accounts. I had been banking with them for 35 years. I changed banks within a month. Also . . . it is a good idea to have 2 credit cards from 2 different institutions.
Yes I definitely agree don't put all your eggs in one basket that's for sure have multiple institutions that you can draw money or credit from I'm heading over to Manila on the 1st of November and I'm bringing two different bank accounts from two different institutions and a half a dozen credit cards all from different institutions just in case you never know what can happen that sounds like a serious pain in the ass having to fly all the way back from Thailand mess with a bank 🤦
Similar situation here. Had my primary ( Plan A ) shut down once I got to the Philippines. Even though I told them I was going to travel. Fortunately plan B, C and D are still good
And... For those that met their "Mahal Ko" decades ago while stationed in the Philippines, and have spent the last three decades state side together working towards retirement... You're going to need multiple times more if you haven't over the years started to self prepare yourself for final retirement to the Philippines. We're down to the last eight months or so here in the US, and we started a few years back with land, house and now a vehicle, so when we finally arrive for the long haul, we're a little ahead of the game. !!!-Mabuhay-!!!
I think $1,500 is very low , if you want to really enjoy the country. I own my own condo and dont drink and only east out about once a month. My travel budget is $1,000 per month. Total budget $4,000 .
Great video Gio. Good points regarding a travel fund. There's way too many channels showing low cost budgets without focusing on a safety net, let alone how much that should be. We just watched the disaster story with that expat who came to the Duma area and made bad decision after bad decision resulting in the community bailing him out and getting him back to US. The sad thing is that many people who move on a whim just don't have the skill set to live in a foreign country. I really really hope they listen to the advice in this video!
@@GiointhePhilippines The steady stream is critical . Whether it's Social Security, Pension or an on-line gig. make sure it's secured and confirmed before you get here.
i plan to live of 3500 peso a week in the province i have no rent to pay for as i just got some land on a 50 year lase old you need 60.000 US dollars for the philippines and 5k in your bank in your country so you are looking at 65.000 USD so for a nice life in the philippines you need 500 USD a month as of to day that would give you 29239 peso a month
To each his own, but in my experience it's better to get unfurnished, you choose your own furniture, just buy the necessary things in the beginning and little by little you can buy as you go along, and choose the quality as well. If you're the type who moves around, then furnished is the way to go to some extent.
@@GiointhePhilippines I was thinking about furnishing an apartment for under 1200 USA or less since you might need to leave in a hurry. or just get sick of the country and move on.
i go to the pilippines several times a year for work purposes from canada] and it varies everytime. regardless how much cashf you have if you haven't got regular income coming in monthly, you will eventualyy run into issues, my two cents. good video.
The only thing that bothers me is that shipping household goods over there has become way too expensive and on top of that, the customs fees in each port will double the costs. Then if you want to ship a car, you can wind up paying 3 times the cost of the car. So in other words it's best to get rid of all your belongings before moving there except for small items that can be shipped with Balikbanyan boxes.
I love the atrium style building where you shoot at. I live in the province(laguna area) $1200 a month living as a resident is more than enough. I came with about 6k in liquid assets and a pension. I stay away from touristy areas and high conjugation of people(big cities). 2person household btw
Phillipine island nation and imported item must be flown in or arrive by boat/ship and these limited shipping modes may add to freight costs which get factored in final prices.
Yep. Always depends. But after you get settled I think in the province, and not dumaguete. More like siaton or Santa Catalina or San Jose you can probably live very well on $1500-2000 month. But that's how I live and my expenses
Precisely Gio. It's not as cheap as what most of us thought. I stayed der for a total of 10yrs(vacations and biz). Eat out all d time, Hotels bills could b quite challenging, if u r particular about cleanliness, safety and convenience. But had a great time too. Thanks for d video,Gio.cheers
If you're thinking of unfurnished renting, yes, $20-25k in liquid is a good start. Cost me about $15-18k when I first came because I purchased everything. Did not skimp on AC units, I purchased all split inverters, which long term saves a ton on electricity. I'm well over the $2k a month, but only budget $1,600 @ an exchange rate of p50. Why? The rates change daily and recently went as high as p59, but today, it's at p54. Planning lower is better, and the extra money goes into that emergency fund everyone needs living here.
So $15,000 to get re established back home and $5000 to get kitted out in an apartment. I’ve said £10,000 about $11,500 to get established back home that’s a cheap car first months rent and deposit on something as I’ll be renting my house out. I’m going out for 3 months with a monthly budget of 100,000 pesos with the intention of getting somewhere off rentpad for 18-20,000 a month somewhere I’ve stayed before and a daily budget of 1500 pesos 10,000 for bills and visa extensions and the rest is ‘wiggle room’ if something goes wrong. my girlfriend is already living and working here.
Gio I don’t know why before anyone move to the Philippines that instead of selling everything they get a shipping container and put all their furniture appliances and what ever else and ship it there. Shipping containers are brought to and pick up from your residence and not that expensive.
Do you think it's essential to bring protective clothing from the sun -- Kind of like what you are wearing here? I'm from the North and never lived in the tropics so kind of clueless about the protection needed from the sun there.
I see the farmers here in Thailand covered from head to toe. For normal people you just have to avoid extended periods in the sun. Avoid mid day. Go out in the evening. If you must go our mid-day then wear a hat, use sunscreen, be careful about sunburn on your feet. There are long sleeve shirts intended for swimming.
This not for single guys. What I did is pre-fund move over one year prior to arrival (Nov 08). Had GF/wife set up bank account for transfers. Funds used for finding condo, kids school stuff, kitchen items. Your right about condo deposits, although it can vary if dealing with individual or real estate broker. We ended making one security deposit and three months advance. It helps to have GF/wife already have account. We’re in Makati and most although not all are rented via a broker. Agree with the amount you stated about initial funds $20k. That’s close to my initial pre-funding (condo, medical, etc). On move Nov 08 transferring another $6k or so for emergency family needs.
Good advice, I suppose - however, if you are retired with at least $2K/month you might want to consider what I did. I'm ex-military and have been in Asia on and off since 1970. I was in the PI in 1991 when we closed Subic. I've also been married 4 times (4th time's a charm) and divorced 3 times to a Vietnamese and 2 Filipinas - Once you go Asian, you never go Caucasian. In 2008 when I retired, I took $2K with me when I first went on my SE Asia tour, but rarely touched it. ATM's are everywhere. I just access my BOA account with my ATM card wherever I am. I went to Angeles City first for 6 months and then to Thailand (Bangkok, Pattaya, Phuket) for 6 months. Thailand is much nicer, but ... if you want a relationship, the PI is the place to be. Angeles has some really nice condos, an SM Mall, nearby Clark airport, hotels in all price ranges, and of course the famous Walking Street. It's a great place to start your life in the PI. After a year in AC I bought a FULLY furnished 70 square meter condo for 3 million PHP within walking distance of SM and Walking Street. The 8K Php HOA fee includes Maid Service, Internet, Water, Garbage, Maintenance on demand, and Cable TV. The complex features 2 Fitness Centers, 2 Pools, a Restaurant, ATM, Pool Bar, and 24/7 Security Guards. Electric is my only other expense. These condos rent from $600-$800/ month plus electric. My advice for newbies - go to AC and have some fun. Guaranteed you'll meet someone and that someone will determine where you end up living. I married in 2011 (my wife is 32 years younger than me) and built a house in Sibonga Cebu, but I still have my condo in AC. In all my time in the PI, I have Never Owned a Car or Motorbike. Unless you travel daily or extensively, you don't need them. I use trikes, cars for hire, buses, and taxis - much cheaper overall. After I married we started toggling back and forth to the US. My wife became a US citizen in 2017. We have not been in the PI since Covid because we are currently taking care of my 98 yo parents in Florida. Eventually we will come back and settle permanently in the PI.
@@pickledbeaker5916 Filipinas and Thais look the same but are very different. In Thailand the girls were very mercenary and only interested in the size of my ATM card. Plus Thais are not into Age-Gap relationships, but they will suck you dry before spitting you out. There was a weekly Ex-pat newspaper in Pattaya with lots of horror stories. We used to joke that the leading cause of death for foreigners was jumping off their high-rise balconies. That being said, if you like living by yourself, Thailand is beautiful. I loved it there. It is much nicer and more modern than the PI. Filipinas working in AC are there for the same reason as Thais, but many dream of finding a steady foreign boyfriend. In the PI, the oldest unmarried daughter usually gets sent out to support the "Family". Most girls working in AC are from Samar, have very little education, and are unmarried mothers. My first GF had 2 kids. We stayed together for awhile, but being a family man was just not my thing. Filipinas are very clingy. I escaped her by going to Thailand. One of the things that attracts girls to the bars is the money. I met a few of the American bar owners there. They said that the girls you would consider a 10 make anywhere from 40 - 60,000 Php a month. Contrast that to my wife, she worked for over 5 years as a maid in Manila for 2,500 Php per month. When I first met her I was shocked to find that she actually had a BDO account. Most girls you meet in the PI live from day to day and never have any savings. For my first GF I actually had to get her CP out of the pawn shop. She had nothing accept the clothes on her back. I have been married for 11 years now (plus we lived together 2 years before marrying). My main reason for marrying was so that she could travel with me - we have been on 10 cruises, spent 3 weeks in Germany my Vaterland (I'm a naturalized US citizen), love Vegas and Arizona, have been to all the state parks and theme parks, and currently live with my parents in Florida. Without us they would have to go into a nursing home. Don't know how long we will be here, but my folks are 98 so probably not to much longer. Funny story - In AC, a Norwegian moved into the condo next to me. He was there for 30 days to see his daughter-in-law's newborn. I tried to take him barhopping, but he like many non-military types said the girls there are dirty (not really, they are there because of circumstances and their families chasing them out to make money for the family). He told me that he had been married to his high school sweetheart for over 50 years and would never look at another woman. He was bored so his daughter-in-law took him barhopping. The next thing I know is that he extended his vacation another 60 days and was living with a woman, 36 years younger than him, and her child. Before he left he told me he was going to sell his house in Norway and come back to live in the PI. We were invited to his wedding.
I have about $65K in liquid and also 6 figure 401K and $1,500 SS a month. So I think I should be okay. BUT I will miss my Medicare with supplement insurance. I had to have my gallbladder removed and the whole thing cost me ZERO. Not one single penny out of pocket. I wouldn't have that in the Phil's. Since I'm in my late 60's health premium will be to high so I will have to pay out of pocket for any medical. I was thinking a budget of $2,000 a month would be my sweet spot as 401K throws off monthly income to easily supplement my SS.
I'm coming with $5,000 and $1,465 a month. I have zero party or travel expenses - I just expect to die in less than 10 years. I want a sofa - tv - computer - food - scooter for fun - diet coke - golf twice a week - daily massage for my broken back - and to be left alone. Mactan Newtown checks all my boxes. I'm burning the bridge - I can't go back once I'm there. March 1, 2023 is my flight.
Sorry I disagree about the amount of money, I've been here over 5 years and brought 5,000 no problems, one thing I rented a fully furnished condo for 17,000 and all monthly bills cable internet all in one is about 24,000 and always have plenty left over,
You did not mention your monthly income. So you have lived on $5,000 for 5 years , thats great . Your basic looks like around $500 times 12 is $6,000 how did you make $5,000 last.
6-P methodology should help. Having been working with emergency response and disaster recovery planning, thinking the worst case will always happen means I'm rarely disappointed when it doesn't. Planning to retire in the Philippines for years and getting as much information, like what you and others provide, has helped a great deal - THANKS!
I spend about the same amount tipping giving out girls you name it. I think the amount should be 3 thousand cash for emergency, even with pensions 3 thousand cash is a good amount and a round trip back to the states in case you have to leave. travel medical is great to get. If you like beautiful women, then you have to figure that will be a cost in your budget.
👍Never think how cheap better how expensive.Look for the high and low then look for yourself not just watch what everyone else does. We are all individuals and have individual lifestyles and requirements. End of the day it is about you and your life and yes Gio as a minimum i would say this is true or more and having more than one income /stream.
Great Video! Great Info and you covered lots of questions I’ve been asking myself! Never been to the Philippines but I’m planning a visit next year! Keep up the good work.
I think a lot of this depends on the area in the US you love. That’s incase you don’t like it here in The Philippines for whatever reason happens, so that number is really hard to pinpoint or even average. For me, central Texas, if I had to go back and set up, it’s about 5k to get set back up and finance a vehicle, housing etc. Moving out here to BGC, not including plane tickets, I’d say 3-4K US, that’s being a little loose with money too. My life style etc, I know I know. To sum it up I’d say 7-10K US setup for an average guy in BGC who came from a small town in Texas. Monthly is 5.8K US monthly and I’m able to save a ton out here and still live a great life. Anyways, that’s my take summed up quickly. Thanks for the videos man, I’ve enjoyed them all.
Great topic, you don't want to be somewhere in the world with few friends or family when an unexpected event occurs that you didn't or couldn't of planned for. Money becomes your best way of buying yourself out of trouble. You should also as you have mentioned before have at least two different ways of accessing your money along with a credit card. I've traveled a little in my life and I've found no matter how inexpensive the country is there is always a way to spend your money especially if you included dating. BTW that is a really cool coffee shop.
One quick question... Do you have access to your 401K or your brokerage account from the Philippines ? Do Credit cards from the States work in the Philippines ?
Disagree learn to cook...you can rent good flats at $160 a month..say no to 2 months deposites...Your $10k was plenty ..you said it your self you blew your money in 6 months...why...just say no..dont tip..dont pay over the odds.. Do not get a gf i wait take you time... clearly you blew your $10k like a 25 year old on joy ride vacation in 6 months..it is cheap there...but if you act rich... bar store shop eating places will take a white guy for a long ride.. You dont need $25 k unless you want to be one of the trendy boys...spending eye watering sums of cash... it just seems Americans want to appear and present themselfs way richer then they are .. and of course will have to pay a price for that.. because once you live like that..the locals have the expectation your very rich and can afford everything... in every poorer country not just the philippines... 10k is plenty..not including your return ticket cost and 2k emergency cash .. and key dont spend on other people..find a gf that has a job..
OMG doubled , so boring dude. Dont tip , really your going to be popular. I would not worry about finding a gf , living like that. Please do not listen to this guy.
Of the $20,000-25,000 he recommended as savings to have before you move overseas, $10,000-$15,000 of that was to be an emergency fund to return to the US.
Great honest conversation GIO 👊 Quick question when you went out there with your liquid amount did you set yourself up with a Filipino bank account? Or moved around with that cash on you? Or you were just using a ABM to an account back in the US?? 😎🇨🇦
I set up a Wise account and had a local bank account also that I moved money from my US account to here. Wise get your first transfer for free: bit.ly/2Z4xxfZ
@@sfrealestatedealmaker6001 fiedelity also works well, I used them for 4 months, had no issues, and they reimburse all atm fees. I also used cc whenever I could.
I think it really has a lot to what your life style is . If your living like your on vacation , chasing women or drinking excessively you will blow through a lot of cash .
@@michaelbyrne5469 $4,000 a month in the Philippines or US? You own your own condo so what on earth do you spend your money on if you don't mind me asking? There are two of you right?
All good points in other words don't think you're going to just "wing it" with a couple thousand in your pocket along with a median monthly income which of course I would think most would budget to the point of always saving something monthly just in case. Another good point as you mentioned in one of your videos is having access to a couple of months' budget savings or just cash in general in the event of some sort of natural event or even a few-day power outage of some kind that would prevent you in accessing some level of funds/pesos.
I could see needing more than that to get back even without the car you might need to pay cash for housing the car isn't always needed. Savings bonds are a good deal right now to save up cash for later
Sound advice Gio. So many people think they are gonna be fine with “enter amount here”….and then find out everything is not cheaper here…. “ hello 👋🏻 McFly….everything is not cheaper here “ Sorry about that….lol. I don’t go to bars but I like living in secure places close to nice things. So I pay a little premium for that. Need a good gym and good food. Cook and prepare most of my own food. I limit the amount of imported food but the good food is more money. When i do eat out id rather it be nice and not a bunch of sugary/salty simple carbohydrates. Drink in moderation and the local beer and Brandy is fine for me. After all that…. I have 2500 usd monthly budget. Brought 10 in, same as you. Always have enough to get back west if you need to. Keep…. Emergency funds. Startup funds Short to medium timeframe savings. Long term savings. Your mileage may vary… enter your own numbers for all those categories. Don’t forget to play the “what if” game. Sure I could get by on less. But like living a good life. Did not retire to live in 60 usd half bedroom apartment in an area with non-stop barking dogs. If someone has to or wants to….. have at it. I’ll take my choice and enjoy life. Currently enjoying BGC and Makati.
🟢 Stay in 3 / 4 Star ⭐️ hotels with free breakfast 🍳 if you stay short term in Asia ❇️ or stay in a Super budget hotel 🏨 with no complimentary breakfast ❇️
Sounds extravagant yet you make it sound like it's needed. When all you have is a suit case & back pack - it's understandable ! I always thought that's a terribly deprived way to live - 1 step away from homeless - it seemed to me ? -- 'Stuff' > was our normal & growing up we had about everything we needed - all the time - though sometimes it require a search ! Stored 'stuff' for most all and any possible need - was my 'normal' all my life & I'm not sure I can give that up. Deprivation was totally unfamiliar and it's not a very comforting feeling - giving it all up ?
Hi Gio! Thanks for posting the video. Great content. Can you please add a link to the US Travel insurance you're using? I believe you said HD but I couldn't find it. Thanks
We enjoyed watching your video GIO. Good information, we will hopefully moving by the end of the year, I hope im not bothering you but i might need some help finding a place.. God bless you and Myra ☀️☀️☀️
great job it makes a person think i dont think people really consider the cost of relocating my nephew recently returned from the military a small apartment $1500electric deposit $150 gas Deposit $100 cable and internet $100 house furnishings over $1000 lucky he has a car im not sure about insurances food and medical
I like the Philippines and have been there 3 times but comparing what you just said Gio to what others say about Thailand seems Thailand may be cheaper
I think Thailand is cheaper, but the fact that English is highly spoken in the Philippines is the deal breaker for my retirement. But I must admit, I love Thailand for the women, food, site seeing and the culture. Good luck.
@@henrymcmiller2527 you know the Philippines is my 1st choice also because of English being widely spoken but everytime I make that argument to friends who have been to both countries they always tell me there are many English speaking Thai people in Thailand also so it’s a toss up for me if that is the case.
Hey Gio my dear friend, I love this video. You really need to do your research before moving to the Philippines. And you have also have a backup plan in case things go belly up, you will be able to get back to your home country. I have 40,000 in liquid money in a savings, and another 20,000 savings in an oh shit account. I have my travelers insurance, with covid coverage. I just signed up for pacific cross health insurance here in the Philippines. I did my homework, and thanks to your vlogs and old dog's vlogs, when I finally moved to the Philippines, I was set. My monthly budget is 3000 per month, From my pension. And of course I made smart investments over many years of working. Thank you Gio my dear friend for sharing this awesome video. Please stay safe and healthy, and God bless you, Maya, and her beautiful daughter always.😊 😊 😊 😊 😊 😊 😊 😊 😊 😊 😊 😊 😊 😊 ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️
@@brianhagley9791 i'm 59 yo and i've just renewed my health insurance with pacific cross (blue royale) here in the philippines and it was 1623 USD for next year.
$10K fpr 6 months wasn't that crazy. That is only $1600 a month for a monthly budget and if you had to make security deposits for your condo then $10K in 6 months was truly not bad at all.
Loved all the great info in this video. Why would an expat decide not to get"travel insurance" when they have an additional 25,000USD to self insure? I just do not understand, think I am missing something?
When I go to my girlfriends place I always spend around 3,000$ mostly on food. Of course I feed everyone there but if you think you can live on $500 a month . That tells me that you have never been there.
Damn you guys live close to the edge. I would be extremely unfomfortable with only the equivalent of USD $20k liquid assets as an emergency fund, especially if I had to return home to Australia. I intend to retire in 4 years at age 60 and live overseas for the first 10-15 years. My retirement will be funded by my military pension, my superannuation, and rental income. In preparation I have just liquidated my investment property portfolio but am retaining my home in Australia which will provide rental income while overseas and a place to return to eventually. Having sufficient funds to refresh the interior of my home, buy new furniture, and a nice car is important to me upon my return. For me, I've set aside 25 times what you're suggesting is sufficent liquid funds. Returning home with $20k, no car, no house, and with minimal income will see you living below the poverty line and that makes a miserable retirement.
In the province you will need $5k USA 🇺🇸 dollars per month on average. In the city like Manila you'll need 6-7 k. This is for a family of 4. I say 5k in the province because 4k of will go to your relatives. Lol 😆 🤣 😂
Where should you bank? Do you use local Filipino banks or do you use international branches of American banks? Also do you leave a percentage of your wealth in the US example all of your 401k balance???
Another awesome video Gio. I think a lot of guys get drawn in by those popular videos of the 500 a month budget. I think that is almost impossible in today's age . I realized the Philippines can be expensive but I believe that's relative. Been planning my early retirement for the last 10 years living on as small of a budget as possible in California which is still a lot more than 2500 a month which is what I will have once retirement comes next year. Hoping the Philippines will be a good home base .
only a person who is living on 700 in the USA can live on 500 in the Philippines. but I don't think most people looking to move here are considering that 500.00 budget. I did see 2 video's where both shared their budgets and lived under 600.00 . 1 lived in the mountains with his Filipina and ate local foods. the other didn't have a Filipina and ate local foods. rent was 150.00 or something like that.
@Matthew Durkee, I'm in southern California and running a tight budget of $2,600 a month. I'm thinking of the move to the PI if I can run a $1,800 - $2,000 a month budget. The only reason my budget is so low right now is my rent. All the rentals for one bedroom in my condo complex are going for $2,000 - $2,100 a month. I'm only paying $1,275 because I've been here for 11 years. When my landlord bought the property in 2011 she paid $99,000. Today they are selling for $425,000. So she has been KIND enough to keep my rent low as she has had Massive Capital Gain.
@@danielhackney7806 dang you are getting a heck of a deal currently I thought I was doing great in California with a 3500 budget. You could live very well in PI with a 2k budget.
Great video Gio and IMHO you must have all of your bases covered for a worst case scenario. I don;t know how other UA-camr's land in the Philippines with the cash in there wallet (though I have great respect for them). I won't be selling my home when I come to the Philippines, etc. Thanks for sharing!
Yes I had a Hundred grand and I went through it like water. Well me and Pearl my girlfriend at the time . after 12 months living the high life at the Swagman resort at Angeles City pearl died of brain cancer, then I returned back to Australia. Perth Western Aussie. the Same day Clark airforce base closed its doors for good. Will the Amercians ever return to full operations. It is best for full military operations by americans for the Philippine peoples-Yes..
We already have a house. The wife's sister, her husband, & her 2 kids live there. It's a large place. The wife is a resident alien in the US. She will go there for 5 months and I will go there on the 5th month and we'll come back together
I fear with the decline of the petrodollar a lot of retirees around the world will be hurting soon. I want to leave but times aren't good anymore for security when you are retired military drawing a government pension. Not in my eye anyway. I'd love to move there though.
I think it depends on your housing cost, do you have a girlfriend that you’re completely carrying, do you eat out or cook at home every day? do you travel, those will be the things that will let you know if you could live on 1000 or more like 2500. But yeah 500 is a dream. If you’re able to live on probably 600 you would need to be obtaining a rental for $60-$100 a month and be a complete homebody and not really eat out unless you’re eating like the locals at a place where you’re paying a couple of pesos.
I guess what you are saying in a nutshell is: " It can be obtained with financial discipline, common sense, some sacrifice and a little smartz!?" Did I hit the hammer on the nail or am I missing something? Anyway, all be blessed, safe, healthy, prosperous and great!
Thanks for the insight. Question? Are you staying on an extended tourist visa? and is it still up to 36 months before you have to leave? Would love to DM you if that’s is possible. Your neighbor from Guam
Yes, I am. I leave every 6 months to avoid the exit clearance. I have an article I wrote about this here and you can contact me from this page also. giointhephilippines.com/navigating-your-way-through-visas-and-immigration-philippines/
My thing is this, Im american i live in america and i have a filipino girlfriend who lives in the philippines, if I want to move there and live there i want to know how much money i should save here before going there till i can get a job there and pretty much be steady with that. Also we are planning on marrying there so i can get my citizenship
Hi Gio good advice you are not far wrong with your fingers It is costing now in the Philippines as much as it is in Europe to live and the added expense is travelling because the cost as all gone up Asia is becoming more for those who can afford that is why the tourist figures are down in numbers and inflation in Europe is squeezing everybody dry
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Hi Gio I am coming to Philippines in December and I really like to know how much money I need to enjoy my vacation example hotel room, island hopping etc
Hi There, Nice to Meet You. I'm Planning on Saving for At least 2 Years & Relocating to Philippines with around 12,000 in Hand. Plus I'll Have Obtained My Passport By Then. Guess I'm Asking for Advice for Californian Native. Should I Take Stack of American Money & US Coins!!.. :). Thanks & I'll Probably Think of More Questions. 🙏
How much do i need for a month trip?
What kind of work could I find out there? Big and small jobs, this is very important and no one ever answers this question. I will subscribe if you answer.
Air bnbs can be found around $350-600 per month, they are fully furnished with power and internet included. This seems like a good option. Shop at markets rather than grocery stores ect. I can see how people can live pretty well for 1k per month. If you’re living like a tourist of course it would be much more. Most Philippinos earn $300-500 per month, if you can’t live on double to triple that then you might be doing it wrong.
Word, i plan on living on 1100 dollars a month there and wont live a life of luxury but a pretty simple digital nomad life, cooking my own food and hitting the gym all week and then have some fun on the weekend.
Great video Gio!
To those visiting any country for up to 3 months, GET travel Insurance all 3 months and PROTECT your HEALTH! To those making a permanent move to any country, GET travel Insurance PLUS make sure to know already which Medical Insurance you will buy and know your deductibles/coverages BEFORE you move.
If you cannot or don't get these insurance policies, you are PLAYING with your health and RISKING your life!
For sure!
I have lived here for over 10 years depending on the life style you want depends on the amount of money required
One of the best vlogs I've seen. Really like your honesty and knowledge. I lived in Costa Rica for a year so I know what it feels like to overspend. Good Job
My first week in Thailand I had a weird unexpected expense. I opened my Thai bank account and went through the process of setting up wire transfers from my US bank. I initiated a $100 test transfer. The next morning I found my accounts and credit cards at my US bank were frozen. They suspected fraud. They insisted that I come into a bank branch to present two forms of ID to unfreeze the accounts. I had to borrow money from a friend to buy a plane ticket to the US to unfreeze the accounts. I had been banking with them for 35 years. I changed banks within a month. Also . . . it is a good idea to have 2 credit cards from 2 different institutions.
Yes I definitely agree don't put all your eggs in one basket that's for sure have multiple institutions that you can draw money or credit from I'm heading over to Manila on the 1st of November and I'm bringing two different bank accounts from two different institutions and a half a dozen credit cards all from different institutions just in case you never know what can happen that sounds like a serious pain in the ass having to fly all the way back from Thailand mess with a bank 🤦
Similar situation here. Had my primary ( Plan A ) shut down once I got to the Philippines. Even though I told them I was going to travel. Fortunately plan B, C and D are still good
Thanks for your honesty in sharing, this is how we as subscribers learn. Very happy to hear about your wedding. Congrats!
And... For those that met their "Mahal Ko" decades ago while stationed in the Philippines, and have spent the last three decades state side together working towards retirement... You're going to need multiple times more if you haven't over the years started to self prepare yourself for final retirement to the Philippines. We're down to the last eight months or so here in the US, and we started a few years back with land, house and now a vehicle, so when we finally arrive for the long haul, we're a little ahead of the game. !!!-Mabuhay-!!!
This will come as a shock for those that think they can live on $500 per month in the Philippines.
$1,500 a month is more like it.
I think $1500 is about right
Are there foreigners who still think they can live on $500 monthly in Ph?? 🤔 Definitely unrealistic
Anyone who thinks that needs their head checked….
I think $1,500 is very low , if you want to really enjoy the country. I own my own condo and dont drink and only east out about once a month. My travel budget is $1,000 per month. Total budget $4,000 .
I'm building a home now in cebu, I'll furnish it and make sure I have everything I need before I move in 3.5 years. Planning is no.1
Also I am moving with 100 K liquid I will live 3 and a 1/2 years on that and then I will retire
Great video Gio. Good points regarding a travel fund. There's way too many channels showing low cost budgets without focusing on a safety net, let alone how much that should be. We just watched the disaster story with that expat who came to the Duma area and made bad decision after bad decision resulting in the community bailing him out and getting him back to US. The sad thing is that many people who move on a whim just don't have the skill set to live in a foreign country. I really really hope they listen to the advice in this video!
You are right and I was almost a disaster story myself if it wasn't for the steady income stream I had.
@@GiointhePhilippines The steady stream is critical . Whether it's Social Security, Pension or an on-line gig.
make sure it's secured and confirmed before you get here.
If you sleep in your car+ eat Top Ramen instant noodle soup you can live in USA on $500 per month
i plan to live of 3500 peso a week in the province i have no rent to pay for as i just got some land on a 50 year lase old you need 60.000 US dollars for the philippines and 5k in your bank in your country so you are looking at 65.000 USD so for a nice life in the philippines you need 500 USD a month as of to day that would give you 29239 peso a month
To each his own, but in my experience it's better to get unfurnished, you choose your own furniture, just buy the necessary things in the beginning and little by little you can buy as you go along, and choose the quality as well. If you're the type who moves around, then furnished is the way to go to some extent.
I am with you now, I prefer unfurnished!
@@GiointhePhilippines I was thinking about furnishing an apartment for under 1200 USA or less since you might need to leave in a hurry. or just get sick of the country and move on.
i go to the pilippines several times a year for work purposes from canada] and it varies everytime. regardless how much cashf you have if you haven't got regular income coming in monthly, you will eventualyy run into issues, my two cents. good video.
The only thing that bothers me is that shipping household goods over there has become way too expensive and on top of that, the customs fees in each port will double the costs. Then if you want to ship a car, you can wind up paying 3 times the cost of the car. So in other words it's best to get rid of all your belongings before moving there except for small items that can be shipped with Balikbanyan boxes.
I love the atrium style building where you shoot at. I live in the province(laguna area) $1200 a month living as a resident is more than enough. I came with about 6k in liquid assets and a pension. I stay away from touristy areas and high conjugation of people(big cities). 2person household btw
I have an Army retirement pension and about 5k cash. Do you have any info about shopping at or around the military bases?
Phillipine island nation and imported item must be flown in or arrive by boat/ship and these limited shipping modes may add to freight costs which get factored in final prices.
Yep. Always depends. But after you get settled I think in the province, and not dumaguete. More like siaton or Santa Catalina or San Jose you can probably live very well on $1500-2000 month. But that's how I live and my expenses
Precisely Gio. It's not as cheap as what most of us thought. I stayed der for a total of 10yrs(vacations and biz). Eat out all d time, Hotels bills could b quite challenging, if u r particular about cleanliness, safety and convenience. But had a great time too. Thanks for d video,Gio.cheers
If you're thinking of unfurnished renting, yes, $20-25k in liquid is a good start. Cost me about $15-18k when I first came because I purchased everything. Did not skimp on AC units, I purchased all split inverters, which long term saves a ton on electricity. I'm well over the $2k a month, but only budget $1,600 @ an exchange rate of p50. Why? The rates change daily and recently went as high as p59, but today, it's at p54. Planning lower is better, and the extra money goes into that emergency fund everyone needs living here.
So $15,000 to get re established back home and $5000 to get kitted out in an apartment.
I’ve said £10,000 about $11,500 to get established back home that’s a cheap car first months rent and deposit on something as I’ll be renting my house out.
I’m going out for 3 months with a monthly budget of 100,000 pesos with the intention of getting somewhere off rentpad for 18-20,000 a month somewhere I’ve stayed before and a daily budget of 1500 pesos 10,000 for bills and visa extensions and the rest is ‘wiggle room’ if something goes wrong. my girlfriend is already living and working here.
Gio I don’t know why before anyone move to the Philippines that instead of selling everything they get a shipping container and put all their furniture appliances and what ever else and ship it there. Shipping containers are brought to and pick up from your residence and not that expensive.
Do you think it's essential to bring protective clothing from the sun -- Kind of like what you are wearing here? I'm from the North and never lived in the tropics so kind of clueless about the protection needed from the sun there.
Yes, I think so. I have a list of what I recommend bringing here. giointhephilippines.com/shop/
We have a national uniform here , shorts and tshirts
I see the farmers here in Thailand covered from head to toe. For normal people you just have to avoid extended periods in the sun. Avoid mid day. Go out in the evening. If you must go our mid-day then wear a hat, use sunscreen, be careful about sunburn on your feet. There are long sleeve shirts intended for swimming.
Good video, great content, well broken down. Thank you good sir, I found this VERY helpful.
Speaking of furnishings - how much did that recliner soffa cost you - and where did you get it? That seems as necessary as a motorbike.
25k pesos at Mandaue Foam
This not for single guys. What I did is pre-fund move over one year prior to arrival (Nov 08). Had GF/wife set up bank account for transfers. Funds used for finding condo, kids school stuff, kitchen items. Your right about condo deposits, although it can vary if dealing with individual or real estate broker. We ended making one security deposit and three months advance. It helps to have GF/wife already have account. We’re in Makati and most although not all are rented via a broker. Agree with the amount you stated about initial funds $20k. That’s close to my initial pre-funding (condo, medical, etc). On move Nov 08 transferring another $6k or so for emergency family needs.
Good advice, I suppose - however, if you are retired with at least $2K/month you might want to consider what I did. I'm ex-military and have been in Asia on and off since 1970. I was in the PI in 1991 when we closed Subic. I've also been married 4 times (4th time's a charm) and divorced 3 times to a Vietnamese and 2 Filipinas - Once you go Asian, you never go Caucasian.
In 2008 when I retired, I took $2K with me when I first went on my SE Asia tour, but rarely touched it. ATM's are everywhere. I just access my BOA account with my ATM card wherever I am.
I went to Angeles City first for 6 months and then to Thailand (Bangkok, Pattaya, Phuket) for 6 months. Thailand is much nicer, but ... if you want a relationship, the PI is the place to be.
Angeles has some really nice condos, an SM Mall, nearby Clark airport, hotels in all price ranges, and of course the famous Walking Street. It's a great place to start your life in the PI.
After a year in AC I bought a FULLY furnished 70 square meter condo for 3 million PHP within walking distance of SM and Walking Street. The 8K Php HOA fee includes Maid Service, Internet, Water, Garbage, Maintenance on demand, and Cable TV. The complex features 2 Fitness Centers, 2 Pools, a Restaurant, ATM, Pool Bar, and 24/7 Security Guards. Electric is my only other expense. These condos rent from $600-$800/ month plus electric.
My advice for newbies - go to AC and have some fun. Guaranteed you'll meet someone and that someone will determine where you end up living. I married in 2011 (my wife is 32 years younger than me) and built a house in Sibonga Cebu, but I still have my condo in AC. In all my time in the PI, I have Never Owned a Car or Motorbike. Unless you travel daily or extensively, you don't need them. I use trikes, cars for hire, buses, and taxis - much cheaper overall.
After I married we started toggling back and forth to the US. My wife became a US citizen in 2017. We have not been in the PI since Covid because we are currently taking care of my 98 yo parents in Florida. Eventually we will come back and settle permanently in the PI.
Once you go Asian, you never go Caucasian. I loved that lol
Thank you for that advice...and sharing your experience.. I was thinking condo in the same area, do you rent it out when your not there .?
really? going to AC to meet wife material? isn't it the same bad advise like to to Pattaya for a wife?
@@pickledbeaker5916 not something I would be bragging about
@@pickledbeaker5916 Filipinas and Thais look the same but are very different. In Thailand the girls were very mercenary and only interested in the size of my ATM card. Plus Thais are not into Age-Gap relationships, but they will suck you dry before spitting you out. There was a weekly Ex-pat newspaper in Pattaya with lots of horror stories. We used to joke that the leading cause of death for foreigners was jumping off their high-rise balconies. That being said, if you like living by yourself, Thailand is beautiful. I loved it there. It is much nicer and more modern than the PI.
Filipinas working in AC are there for the same reason as Thais, but many dream of finding a steady foreign boyfriend. In the PI, the oldest unmarried daughter usually gets sent out to support the "Family". Most girls working in AC are from Samar, have very little education, and are unmarried mothers. My first GF had 2 kids. We stayed together for awhile, but being a family man was just not my thing. Filipinas are very clingy. I escaped her by going to Thailand.
One of the things that attracts girls to the bars is the money. I met a few of the American bar owners there. They said that the girls you would consider a 10 make anywhere from 40 - 60,000 Php a month. Contrast that to my wife, she worked for over 5 years as a maid in Manila for 2,500 Php per month. When I first met her I was shocked to find that she actually had a BDO account. Most girls you meet in the PI live from day to day and never have any savings. For my first GF I actually had to get her CP out of the pawn shop. She had nothing accept the clothes on her back.
I have been married for 11 years now (plus we lived together 2 years before marrying). My main reason for marrying was so that she could travel with me - we have been on 10 cruises, spent 3 weeks in Germany my Vaterland (I'm a naturalized US citizen), love Vegas and Arizona, have been to all the state parks and theme parks, and currently live with my parents in Florida. Without us they would have to go into a nursing home. Don't know how long we will be here, but my folks are 98 so probably not to much longer.
Funny story - In AC, a Norwegian moved into the condo next to me. He was there for 30 days to see his daughter-in-law's newborn. I tried to take him barhopping, but he like many non-military types said the girls there are dirty (not really, they are there because of circumstances and their families chasing them out to make money for the family). He told me that he had been married to his high school sweetheart for over 50 years and would never look at another woman. He was bored so his daughter-in-law took him barhopping. The next thing I know is that he extended his vacation another 60 days and was living with a woman, 36 years younger than him, and her child. Before he left he told me he was going to sell his house in Norway and come back to live in the PI. We were invited to his wedding.
I have about $65K in liquid and also 6 figure 401K and $1,500 SS a month. So I think I should be okay. BUT I will miss my Medicare with supplement insurance. I had to have my gallbladder removed and the whole thing cost me ZERO. Not one single penny out of pocket. I wouldn't have that in the Phil's. Since I'm in my late 60's health premium will be to high so I will have to pay out of pocket for any medical. I was thinking a budget of $2,000 a month would be my sweet spot as 401K throws off monthly income to easily supplement my SS.
I'm coming with $5,000 and $1,465 a month. I have zero party or travel expenses - I just expect to die in less than 10 years. I want a sofa - tv - computer - food - scooter for fun - diet coke - golf twice a week - daily massage for my broken back - and to be left alone. Mactan Newtown checks all my boxes. I'm burning the bridge - I can't go back once I'm there. March 1, 2023 is my flight.
It's a nice area
Just a quick comment to help the algorithm as I appreciate your content. ty
Just don't do like expat John who moved with $30k and no income at all.
Ty for the tips, Gio. Hope your day is going well.
what you suggest is a good perspective, most Expats have no clue and get frustrated blaming everyone but themselves.
Sorry I disagree about the amount of money, I've been here over 5 years and brought 5,000 no problems, one thing I rented a fully furnished condo for 17,000 and all monthly bills cable internet all in one is about 24,000 and always have plenty left over,
I think you need an exit strategy too and money for a major medical emergency.
You did not mention your monthly income. So you have lived on $5,000 for 5 years , thats great . Your basic looks like around $500 times 12 is $6,000 how did you make $5,000 last.
My monthly income is 2,000
If your good with your money stay out of bars daily set your self up in your means one can live quite well on 2500 to3000 I think
6-P methodology should help. Having been working with emergency response and disaster recovery planning, thinking the worst case will always happen means I'm rarely disappointed when it doesn't. Planning to retire in the Philippines for years and getting as much information, like what you and others provide, has helped a great deal - THANKS!
I spend about the same amount tipping giving out girls you name it. I think the amount should be 3 thousand cash for emergency, even with pensions 3 thousand cash is a good amount and a round trip back to the states in case you have to leave. travel medical is great to get. If you like beautiful women, then you have to figure that will be a cost in your budget.
Great information again Gio. Thankfully to you I did watch your videos so I was fully prepared when I moved here
You seem like you had everything together when you arrived.
👍Never think how cheap better how expensive.Look for the high and low then look for yourself not just watch what everyone else does. We are all individuals and have individual lifestyles and requirements. End of the day it is about you and your life and yes Gio as a minimum i would say this is true or more and having more than one income /stream.
Great Video! Great Info and you covered lots of questions I’ve been asking myself! Never been to the Philippines but I’m planning a visit next year! Keep up the good work.
СПАСИБО ЗА МОТИВАЦИЮ, Я УЖЕ ПОЕЗЖАЮ КУДА-КУДА, КУДА ПЕРЕЕХАТЬ, СКОЛЬКО ТАМ СТОИТ, поеду на памятную. как пройти туда.и т.д.
I think a lot of this depends on the area in the US you love. That’s incase you don’t like it here in The Philippines for whatever reason happens, so that number is really hard to pinpoint or even average. For me, central Texas, if I had to go back and set up, it’s about 5k to get set back up and finance a vehicle, housing etc.
Moving out here to BGC, not including plane tickets, I’d say 3-4K US, that’s being a little loose with money too. My life style etc, I know I know.
To sum it up I’d say 7-10K US setup for an average guy in BGC who came from a small town in Texas.
Monthly is 5.8K US monthly and I’m able to save a ton out here and still live a great life. Anyways, that’s my take summed up quickly.
Thanks for the videos man, I’ve enjoyed them all.
Thank you Steven! Well said on your comment!
Great topic, you don't want to be somewhere in the world with few friends or family when an unexpected event occurs that you didn't or couldn't of planned for. Money becomes your best way of buying yourself out of trouble. You should also as you have mentioned before have at least two different ways of accessing your money along with a credit card. I've traveled a little in my life and I've found no matter how inexpensive the country is there is always a way to spend your money especially if you included dating. BTW that is a really cool coffee shop.
Thanks Stan
One quick question... Do you have access to your 401K or your brokerage account from the Philippines ? Do Credit cards from the States work in the Philippines ?
Yes, I can.
Disagree learn to cook...you can rent good flats at $160 a month..say no to 2 months deposites...Your $10k was plenty ..you said it your self you blew your money in 6 months...why...just say no..dont tip..dont pay over the odds.. Do not get a gf i wait take you time... clearly you blew your $10k like a 25 year old on joy ride vacation in 6 months..it is cheap there...but if you act rich... bar store shop eating places will take a white guy for a long ride..
You dont need $25 k unless you want to be one of the trendy boys...spending eye watering sums of cash... it just seems Americans want to appear and present themselfs way richer then they are .. and of course will have to pay a price for that.. because once you live like that..the locals have the expectation your very rich and can afford everything... in every poorer country not just the philippines... 10k is plenty..not including your return ticket cost and 2k emergency cash .. and key dont spend on other people..find a gf that has a job..
Omg...
I live in Dumagute easily with 1000 per month never had any problems.
OMG doubled , so boring dude. Dont tip , really your going to be popular. I would not worry about finding a gf , living like that. Please do not listen to this guy.
Of the $20,000-25,000 he recommended as savings to have before you move overseas, $10,000-$15,000 of that was to be an emergency fund to return to the US.
Great honest conversation GIO 👊 Quick question when you went out there with your liquid amount did you set yourself up with a Filipino bank account? Or moved around with that cash on you? Or you were just using a ABM to an account back in the US?? 😎🇨🇦
Open a Charles Schwabb checking acct in the U.S. ATM Fees are reimbursed anywhere in the world.
Agreed!
I set up a Wise account and had a local bank account also that I moved money from my US account to here.
Wise get your first transfer for free:
bit.ly/2Z4xxfZ
@@sfrealestatedealmaker6001 fiedelity also works well, I used them for 4 months, had no issues, and they reimburse all atm fees. I also used cc whenever I could.
I think it really has a lot to what your life style is . If your living like your on vacation , chasing women or drinking excessively you will blow through a lot of cash .
Absolutely, one amount does not fit all for sure!
I own my own condo , married , dont drink and cook my own food. My budget that i have a hard time making is $4,000 per month.
@@michaelbyrne5469 $4,000 a month in the Philippines or US? You own your own condo so what on earth do you spend your money on if you don't mind me asking? There are two of you right?
@@michaelbyrne5469 ... yeah please do tell us, what on earth do you spend 4 grand on?
All good points in other words don't think you're going to just "wing it" with a couple thousand in your pocket along with a median monthly income which of course I would think most would budget to the point of always saving something monthly just in case. Another good point as you mentioned in one of your videos is having access to a couple of months' budget savings or just cash in general in the event of some sort of natural event or even a few-day power outage of some kind that would prevent you in accessing some level of funds/pesos.
Another great Vlog Gio. Thank you
Enjoy your channel. I plan on a live consultation on your website . you guys take care 🙂
Awesome! Thank you!
I could see needing more than that to get back even without the car you might need to pay cash for housing the car isn't always needed. Savings bonds are a good deal right now to save up cash for later
Good idea on the savings bonds Eric.
This all depends on your lifestyle, location, income, stability of your income. Some will need more of less savings than others.
Sound advice Gio.
So many people think they are gonna be fine with “enter amount here”….and then find out everything is not cheaper here…. “ hello 👋🏻
McFly….everything is not cheaper here “
Sorry about that….lol.
I don’t go to bars but I like living in secure places close to nice things. So I pay a little premium for that. Need a good gym and good food. Cook and prepare most of my own food. I limit the amount of imported food but the good food is more money.
When i do eat out id rather it be nice and not a bunch of sugary/salty simple carbohydrates.
Drink in moderation and the local beer and Brandy is fine for me.
After all that…. I have 2500 usd monthly budget.
Brought 10 in, same as you. Always have enough to get back west if you need to.
Keep….
Emergency funds.
Startup funds
Short to medium timeframe savings.
Long term savings.
Your mileage may vary… enter your own numbers for all those categories.
Don’t forget to play the “what if” game.
Sure I could get by on less. But like living a good life.
Did not retire to live in 60 usd half bedroom apartment in an area with non-stop barking dogs.
If someone has to or wants to….. have at it.
I’ll take my choice and enjoy life.
Currently enjoying BGC and Makati.
Loved the "Back to the Future" reference :-) Very well said you are a wise man!
Thanks for the info. Go. Thoughtful and helpful. Realistic.
Glad it was helpful!
Good information 👏👏👍 Tks😜
🟢 Stay in 3 / 4 Star ⭐️ hotels with free breakfast 🍳 if you stay short term in Asia ❇️ or stay in a Super budget hotel 🏨 with no complimentary breakfast ❇️
Sounds extravagant yet you make it sound like it's needed. When all you have is a suit case & back pack - it's understandable ! I always thought that's a terribly deprived way to live - 1 step away from homeless - it seemed to me ? -- 'Stuff' > was our normal & growing up we had about everything we needed - all the time - though sometimes it require a search ! Stored 'stuff' for most all and any possible need - was my 'normal' all my life & I'm not sure I can give that up. Deprivation was totally unfamiliar and it's not a very comforting feeling - giving it all up ?
A gran for two is well enough for provincial life as long as you own everything and no recurring bill
Hi Gio! Thanks for posting the video. Great content. Can you please add a link to the US Travel insurance you're using? I believe you said HD but I couldn't find it. Thanks
Travel Medical Insurance. Protect yourself from a travel emergency.
bit.ly/36pHlVf
We enjoyed watching your video GIO. Good information, we will hopefully moving by the end of the year, I hope im not bothering you but i might need some help finding a place.. God bless you and Myra ☀️☀️☀️
Let me know
Thank you, Gio… that was very informative. 😊
Glad it was helpful!
I would say your number sounds good, but depending on age and your health, additional funds for health care.
Your so right, it’s not as cheap to live here in the Philippians as others may think.
Surprise, surprise lol
In Davao Oriental is cheap to live
great job it makes a person think i dont think people really consider the cost of relocating my nephew recently returned from the military a small apartment $1500electric deposit $150 gas Deposit $100 cable and internet $100 house furnishings over $1000 lucky he has a car im not sure about insurances food and medical
I like the Philippines and have been there 3 times but comparing what you just said Gio to what others say about Thailand seems Thailand may be cheaper
I think Thailand is cheaper, but the fact that English is highly spoken in the Philippines is the deal breaker for my retirement. But I must admit, I love Thailand for the women, food, site seeing and the culture. Good luck.
@@henrymcmiller2527 you know the Philippines is my 1st choice also because of English being widely spoken but everytime I make that argument to friends who have been to both countries they always tell me there are many English speaking Thai people in Thailand also so it’s a toss up for me if that is the case.
Hey Gio my dear friend, I love this video. You really need to do your research before moving to the Philippines. And you have also have a backup plan in case things go belly up, you will be able to get back to your home country. I have 40,000 in liquid money in a savings, and another 20,000 savings in an oh shit account. I have my travelers insurance, with covid coverage. I just signed up for pacific cross health insurance here in the Philippines. I did my homework, and thanks to your vlogs and old dog's vlogs, when I finally moved to the Philippines, I was set. My monthly budget is 3000 per month, From my pension. And of course I made smart investments over many years of working. Thank you Gio my dear friend for sharing this awesome video. Please stay safe and healthy, and God bless you, Maya, and her beautiful daughter always.😊 😊 😊 😊 😊 😊 😊 😊 😊 😊 😊 😊 😊 😊 ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ ❤️
Darryl, How much are you paying for Pacific Cross?
Thanks buddy
@@brianhagley9791 i'm 59 yo and i've just renewed my health insurance with pacific cross (blue royale) here in the philippines and it was 1623 USD for next year.
What I really need to know is. Do I bring cash or is it better to rely on your banking cards?
I prefer banking cards, they are so fickle on exchanging cash here.
@@GiointhePhilippines Thanks.
Wells Fargo and Schwab the best no fees.
$10K fpr 6 months wasn't that crazy. That is only $1600 a month for a monthly budget and if you had to make security deposits for your condo then $10K in 6 months was truly not bad at all.
Hi Gio, Thank You for the Info 👍
My pleasure!
Planning on moving to the country in a few months. Any site recommendations to find remote work from the u.s to do while living there?
Loved all the great info in this video.
Why would an expat decide not to get"travel insurance" when they have an additional 25,000USD to self insure?
I just do not understand, think I am missing something?
I don't know why people self-insure honestly
After you get yourself established and have the 20 to $25,000 in liquidity, how much do you think you need a month to live on?
Average $1500
When I go to my girlfriends place I always spend around 3,000$ mostly on food. Of course I feed everyone there but if you think you can live on $500 a month . That tells me that you have never been there.
Good vid Gio……I think will have and are having a good life there.
Not for me I’ve decided finally.
Take care
Hi gio,great video, I hope you are well,what is the name of your travel insurance company, thank you very much
safetywing.com/?referenceID=24748534&Ambassador
Thank you very much 😊
Haa haa so true ..fully furnished Filipino style not foreigners standard 😂❤️🇵🇭🇦🇺👍
❇️ I am on the Jollibee budget in the Philippines 🇵🇭
😂
Thats stuff will kill you. you can buy some top quality US filets for only 4,000 per kilo thats what i eat.
🤢🤮
You have to bring Millions cause when you meet the one you support everyone in the house hold
Damn you guys live close to the edge. I would be extremely unfomfortable with only the equivalent of USD $20k liquid assets as an emergency fund, especially if I had to return home to Australia.
I intend to retire in 4 years at age 60 and live overseas for the first 10-15 years. My retirement will be funded by my military pension, my superannuation, and rental income.
In preparation I have just liquidated my investment property portfolio but am retaining my home in Australia which will provide rental income while overseas and a place to return to eventually. Having sufficient funds to refresh the interior of my home, buy new furniture, and a nice car is important to me upon my return. For me, I've set aside 25 times what you're suggesting is sufficent liquid funds.
Returning home with $20k, no car, no house, and with minimal income will see you living below the poverty line and that makes a miserable retirement.
Good advice thanks. I think when you say " dirt cheep" there that means for real dirt cheep.
In the province you will need $5k USA 🇺🇸 dollars per month on average. In the city like Manila you'll need 6-7 k. This is for a family of 4. I say 5k in the province because 4k of will go to your relatives. Lol 😆 🤣 😂
I was wondering where your figures were coming from 😅🤣
haha
Very good , $1500 is a pipe dream.
Where should you bank? Do you use local Filipino banks or do you use international branches of American banks? Also do you leave a percentage of your wealth in the US example all of your 401k balance???
Another awesome video Gio. I think a lot of guys get drawn in by those popular videos of the 500 a month budget. I think that is almost impossible in today's age . I realized the Philippines can be expensive but I believe that's relative. Been planning my early retirement for the last 10 years living on as small of a budget as possible in California which is still a lot more than 2500 a month which is what I will have once retirement comes next year. Hoping the Philippines will be a good home base .
only a person who is living on 700 in the USA can live on 500 in the Philippines. but I don't think most people looking to move here are considering that 500.00 budget. I did see 2 video's where both shared their budgets and lived under 600.00 . 1 lived in the mountains with his Filipina and ate local foods. the other didn't have a Filipina and ate local foods. rent was 150.00 or something like that.
@Matthew Durkee, I'm in southern California and running a tight budget of $2,600 a month. I'm thinking of the move to the PI if I can run a $1,800 - $2,000 a month budget. The only reason my budget is so low right now is my rent. All the rentals for one bedroom in my condo complex are going for $2,000 - $2,100 a month. I'm only paying $1,275 because I've been here for 11 years. When my landlord bought the property in 2011 she paid $99,000. Today they are selling for $425,000. So she has been KIND enough to keep my rent low as she has had Massive Capital Gain.
@@danielhackney7806 dang you are getting a heck of a deal currently I thought I was doing great in California with a 3500 budget. You could live very well in PI with a 2k budget.
What age are you retiring? 62?
I understand there is Tricare in the Philippines. Do you know anyone that is using it and if so, does is it decent coverage?
@@civmartom7705 Thank you
Hello and thanks for good information to come and li e in Phil. In 3 years hope I will move and make it a try. Next year new holiday there.
Great video Gio and IMHO you must have all of your bases covered for a worst case scenario. I don;t know how other UA-camr's land in the Philippines with the cash in there wallet (though I have great respect for them). I won't be selling my home when I come to the Philippines, etc. Thanks for sharing!
Much appreciated
Good vid thanks
Yes I had a Hundred grand and I went through it like water. Well me and Pearl my girlfriend at the time . after 12 months living the high life at the Swagman resort at Angeles City pearl died of brain cancer, then I returned back to Australia. Perth Western Aussie. the Same day Clark airforce base closed its doors for good. Will the Amercians ever return to full operations. It is best for full military operations by americans for the Philippine peoples-Yes..
We already have a house. The wife's sister, her husband, & her 2 kids live there. It's a large place.
The wife is a resident alien in the US. She will go there for 5 months and I will go there on the 5th month and we'll come back together
She brings 10k. We usually have a thousand left over. We'll put in the bank
We've been married for 24yrs & she'll usually do work on the house. We've plucked away at the place over the years.
My house is paid for in the US and I was going to use that as my retirement. It's worth around 350k currently
I'm trying to move there in the next couple of years that will give me 6 or 7 years before I can collect a SS check
I fear with the decline of the petrodollar a lot of retirees around the world will be hurting soon. I want to leave but times aren't good anymore for security when you are retired military drawing a government pension. Not in my eye anyway. I'd love to move there though.
I think it depends on your housing cost, do you have a girlfriend that you’re completely carrying, do you eat out or cook at home every day? do you travel, those will be the things that will let you know if you could live on 1000 or more like 2500. But yeah 500 is a dream. If you’re able to live on probably 600 you would need to be obtaining a rental for $60-$100 a month and be a complete homebody and not really eat out unless you’re eating like the locals at a place where you’re paying a couple of pesos.
I guess what you are saying in a nutshell is: " It can be obtained with financial discipline, common sense, some sacrifice and a little smartz!?" Did I hit the hammer on the nail or am I missing something? Anyway, all be blessed, safe, healthy, prosperous and great!
Gio are you talking cash in hand or in a savings account?
Savings account
Im going for a remote job that would without taxes give me 3-5k a month should be enough?
Thanks for the insight. Question? Are you staying on an extended tourist visa? and is it still up to 36 months before you have to leave? Would love to DM you if that’s is possible. Your neighbor from Guam
Yes, I am. I leave every 6 months to avoid the exit clearance. I have an article I wrote about this here and you can contact me from this page also.
giointhephilippines.com/navigating-your-way-through-visas-and-immigration-philippines/
@@GiointhePhilippines many thanks 👍
Is 5k per month enough to live outside the city near the beach in a nice house with nice wifi etc and eat out somedays
Dishes are cheap nice ones 50 cents Thats the least concern. great video!!
Very true!
That is a bit lower than I would take. I think around $40 thousand is a bit closer to what I would take.
Certainly more is better in this case.
My thing is this, Im american i live in america and i have a filipino girlfriend who lives in the philippines, if I want to move there and live there i want to know how much money i should save here before going there till i can get a job there and pretty much be steady with that. Also we are planning on marrying there so i can get my citizenship
Hi Gio good advice you are not far wrong with your fingers
It is costing now in the Philippines as much as it is in Europe to live and the added expense is travelling because the cost as all gone up Asia is becoming more for those who can afford
that is why the tourist figures are down in numbers and inflation in Europe is squeezing everybody dry