Retiring to Philippines!

[Dakine 26]

Things aren't looking good for expats and people planning on retiring to the Philippines or for that matter any foreign country.

US dollar is taking a DUMP!

A year ago exchange rate was 55 to 1 in PI.

Today it's 43.60 to 1 !!

Irag may be one of the major causes. I really don't know that much about finances but spending 5 billion a day or whatever with out getting anything back don't work in my book!

Makes it tough on us naman as we support our family there.

Edited October 16, 2007 by Haole

[Jasman0717 9]

It sure doesn't look too good for the expats right now. I hope this can get turned around, we would also like to spend at least part of our time there.

[Dakine 26]

It sure doesn't look too good for the expats right now. I hope this can get turned around, we would also like to spend at least part of our time there.

No biggy Jasman! Just plan on living on the manok you raise, rice and malunggay!

[Jasman0717 9]

It sure doesn't look too good for the expats right now. I hope this can get turned around, we would also like to spend at least part of our time there.

No biggy Jasman! Just plan on living on the manok you raise, rice and malunggay!

I might have to move onto my chicken farm and eat the profits

[Sheriff Uling 3]

Let's wait another three to five years and see how our precious dollar rebounds (or flops) before we make any hasty speculations. However, this drop in our US dollar does concern me, but let's wait to see how the new administration runs things before we put a padlock on our retirement plans overseas.

[David-Rhosie 0]

We're looking at moving over there in about 5 or 6 years also. I've definitely been paying attention as well and will just bide my time. Just keep your options open as well as pay attention to the markets. There's always a way for a living.

[Jasman0717 9]

Let's wait another three to five years and see how our precious dollar rebounds (or flops) before we make any hasty speculations. However, this drop in our US dollar does concern me, but let's wait to see how the new administration runs things before we put a padlock on our retirement plans overseas.

I hope the dollar recovers by then, that is about the time I plan to retire.

[Jimmy and Angela 0]

well one thing I have learned is ... everything happens for the best so whatever it does I will roll with it. we are also planning to retire in PI life is good !!!

[Jasman0717 9]

Even with the falling dollar it is still cheaper in the RP for retirees

[BJZags 17]

Even with the falling dollar it is still cheaper in the RP for retirees

Exactly. The only thing that concerns me about this calculation is the cost of healthcare once there. At least in America we'd have some form of insurance to ease the burden. In the RP, you gotta pay cash for everything, and often the medicine is MORE expensive than in the US. I could see healthcare eating-up whatever cost-of-living savings there are.

[Jasman0717 9]

Even with the falling dollar it is still cheaper in the RP for retirees

Exactly. The only thing that concerns me about this calculation is the cost of healthcare once there. At least in America we'd have some form of insurance to ease the burden. In the RP, you gotta pay cash for everything, and often the medicine is MORE expensive than in the US. I could see healthcare eating-up whatever cost-of-living savings there are.

It does seem to be considerably cheaper but everything is cash and carry. It is good if you are ex military, you can use the facilities in Manila.

[JelloShotGirl 0]

i remember when the exchange was 1 us dollar= 60.00 php...........that was fun!

[RandyandRina 2]

I remember 2-3 years ago, that was last quarter of the year, of seeing $1= 57Php. Believe it or not, a 1-2 weeks ago, the Canadian dollar was 1:1 with US dollars. it's really sad

Edited October 16, 2007 by RandyandRina

[SMOKE 1,426]

maybe people need to look in the drive way, on the tv stand, in the toy box & everywhere else around the house to see why the dollar is dumping. Edited October 16, 2007 by tapout

[Dakine 26]

maybe people need to look in the drive way, on the tv stand, in the toy box........to see why the dollar is dumping.

Yeah! Can't find anything that says "Made in USA".

OOPS My dog just walked by!!

Edited October 16, 2007 by Haole