Balik Pinas or relocate to first world with average income

[cindylmarvin]

@davonte20 Salamat!

 

[dan87]

@cindylmarvin Depends on where you want to retire long term.

If you want to retire in the Philippines when you get old, then I'd move back. Otherwise, stay.

 

[cindylmarvin]

@dan87 Likely will retire po in the PH, kapag settled na ang kids sa education.

 

[dan87]

@cindylmarvin I see in that case, with that income, I think ph is a great option. Make sure to invest in assets like properties and equities so that your wealth in the ph becomes long term.

Whenever I make decisions, I usually start with the ‘end goal’ in mind. Since you are planning to retire in the ph then you have your answer.

 

[cindylmarvin]

@dan87 Thanks for the investment advice! Good point on the end goal. But would it make sense po ba as strategy if we stay outside PH until retirement and keep growing our global nest egg to enjoy first world country and return (me and wife) to PH to retire? I mean on the perspective of reaching this end goal.

 

[dan87]

@cindylmarvin Of course! It’s all personal preference. As long as whatever you decide is coming from the heart.

Also, you also need to ask yourself if the money you’re making abroad is even COMPARABLE to the money you’ll be making in the Ph.

Use a money comparison calculator / cost of living calculator online. I always use numbeo.

If they’re roughly 20% of each other then I’d stay

 

[cindylmarvin]

@dan87 Thanks for the numbeo tip, will have a look at that. Salamat po!

 

[dan87]

@cindylmarvin No problem and good luck!

Also, what country are you comparing the Philippines to?

 

[cindylmarvin]

@dan87 Australia, Canada and Singapore

 

[dan87]

@cindylmarvin Great opportunities!

My personal preferences for each

Singapore > Australia >>>>> Canada

Singapore for its proximity to the phil, cheap flights, very low taxes, high salary

Australia for its quality of life, and big filipino community

Canada, from my preference, I would not move to because I don’t like the cold. I have experienced harsh winters and it is not for me. Also, Canada has a low median salary for its high cost of living. You’re paying US level cost of living but not US wages.

 

[cindylmarvin]

@dan87 Wow same ranking! Top notch safety of Singapore. Canada as last option and potentially would stay for just a few years. Salamat kabayan!

 

[resjudicata]

@cindylmarvin Rent or buy a condo in Rockwell Makati and live there. Mga kapit bahay mo mga naka rolce royce at iba pang exotic cars. Malapit ka sa mall na may grocery sa baba. Mga kainan kumpleto. May movie house din.

 

[cindylmarvin]

@resjudicata Ay solid yung rolce royce, mga bigatin talaga. Gandang option ng accessibility na ito. Salamat!

 

[godbeliever1980]

@cindylmarvin But you will be reminded by the rich poor gap every time you leave that area. I don’t know how those folks leave I guess sanayan lang.

 

[cindylmarvin]

@godbeliever1980 Agree, pag labas mo ng magandang village, likely bakbakan ulit. Salamat.

 

[finesubmit]

@resjudicata Yeah that would be the case for super rich. But for OP, 500k php / month cannot afford an RR.

 

[resjudicata]

@finesubmit Well you don’t need an RR to live there. I am just saying na may mga ganun kang kapit bahay pag sa rockwell ka tumira. Hindi maiingay at skwaki ang kapit bahay mo. Kung P500k net income ni OP, kahit mag rent siya ng unit sa Joya na P150k ok lang. Yung matira pang gastos na nila ng family niya.

 

[churchbuilder]

@nguyentrongphuoc lol I think I've seen one of them Zobel de Ayala sisters checking out Serendra back in August 2021.. using that precisely hehehe

 

[nguyentrongphuoc]

@churchbuilder Nice to see you again my friend.

Swabe naman eh. Di lang patok sa mga Everest and Forester crowd haha

 

[beboidephanoi]

@cindylmarvin Expats retire here for the cost of living and exchange rate. They realized they can ignore the negatives so long as they have enough cash to swim in.

I had an option to move to Sydney since while I'm in the Philippines, I'm also earning about $5000-$6000/month as a freelance writer/editor.

Then I did some reflecting and cost comparisons and figured it's easier to just buy my way out of sticky situations here than to relocate and dent my earning ability.

However, the best advice is to move here with the intent to retire and not work. Simply being retired and swimming in money is a good position in a Westernized third world country.