For those interested in changing your state of residence to avoid state income taxes (not just SS income) here’s a good video on how to do that. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-jntFI_5FiA8.html
I haven't looked at the video, but from prior experience, states tend to ignore changes of residence where the taxpayer doesn't get a driver license for their new state of residence. If you keep your old driver license and file using a post office address, most states will not accept your change of residence. Each state is different in their enforcement standards.
I know when I moved to Southern Mississippi from Texas I have an uncle here that witnessed a document at the department of public safety witnessing that I had been living with him for the past 6 months. Worked out well. Usually most people have to show some sort of a lease or that you are in the process of buying a house.
@@wdc1040 just get the drivers license there are plenty of address forwarding services like anytimemailbox (just an example of one) that give you a street address in zero income tax states, RV and overseas living folks do it. You will only need to pay income tax if you work in a state that collects it, you can have a drivers license and address in many states consider that your main home/address.
I would imagine a single person with Social Security and possibly a Military Retirement Pension should be able to live fairly well over there. A lot of my fellow military friends talked about retiring there. ☘️
I've noticed the food budgets of a lot of expat youtubers is quite a lot. I live in southeast Wisconsin and budget 350 a month for me and my 4 year old daughter. We don't eat steaks or go to fancy restaurants but we still eat well. I'm just surprised that the Philippines is no different than here for food costs . Maybe I'm wrong , I don't know 😕
@@immelting9834 My food budget is up over 15% with this darn inflation. I live in California and it was already expensive even before inflation. One positive for expats in the PI the money exchange rate has been VERY favorable so their food inflation is much easier to stomach! LOL
@@Waddle584 expats were lucky peso went as high as 59 to a dollar. But I think it's down a bit during Christmas holiday. Not sure if it will stay favorable into 2023. But since SS is due for an increase of 8.7% starting Jan 1 that will take a bit out of inflation for guys on SS.
My budget in bang saray Thailand a month is Condo: $300 Utilities: $ 40 approx Food/essentials: $600 approx Internet: $15 Bike fuel: $20 approx Beer and weed: $100 approx Massage: $200 Hookers: $1500 The rest maintenance and insurance for the bike
Paul, I would really like you to do a show on the dynamic between a Pinays family, and the families expectations of a Western boyfriend, especially financially. We all saw what happened with John. I own a Filipina dating group on FB, and have witnessed many great relationships destroyed by the Pinays families demands on the man. Many first time Westerners are not prepared for that situation, or how to handle it. Could you do a show on this topic?
He's covered it a million times before. Google around and it's pretty evident anyway. Also the older you are the more expectations of financial support there will be from you to the family.
@@6foot596 I want it from Paul's perspective, not googling around. I don't just want to know about a families expectation, but how a man who does not want to support the family should approach it. I think others would like this idea of a show also.
@@jameswelch1054 he's covered it many times before in his videos. Many many times. To summarize if you don't want to support their whole family then make sure you become part of a family that money isn't an issue. Find a partner who has a good career. It's no different than life back anywhere. I am Filipino myself although lived in Australia and US too.
@@6foot596 You are a Filipino, so you know all the angles. Westerners don't. Many are doing this through social media, and don't have the chance to check out the family, or know what to look for. Maybe that show would not interest you, but I think it will interest others.
@@jameswelch1054 I agree James... plus even if it has been covered before, things change.... and from Paul's perspective, like a budget video, these ones really bring in the views.
Love the channel and the "reality-based" experiences...I'd add to the monthly budget to anyone partnered with a Filipina the spouse's family needs that will have to be met regularly as that connection is very powerful in PI and has often been at the root of marital problems in Filipina-American relations. My solution to that problem was to send the Filipina I married to nursing school, after which she made so much more money than I ever did that it was never a problem. Ironically, the problem for her was that for many years I got the credit for the hard-earned money she sent as that is the normal arrangement in such relationships. Thanks for the perspective...keep it rollin'.
Paul, I think most Expats of retirement age should also set aside some reserves (above and beyond their monthly SS check) for any dental or medical expenses. Just curious, have you completely opted out of US Medicare and the required Part B payment, and is that common for most Expats that have moved there? Enjoy!
Hi Paul, I hope to move from America to the Philippines in 2023, I'm 64 and on SSI and receive enough to live on monthly on your budget according to your video so thank you for the information😎
A Quick google search. Only eleven states- Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, Rhode Island, Utah, and Vermont - impose some form of income taxes on social security benefits. The remaining states and District of Columbia do not levy taxes on social security benefits.
Well done sir, right to the point and then dissected the point with no turn unstoned..I am under 200 years old so the info was very informative, with ss, 401ks, and other could be happy enough there with a wonderful people and warm weather (though a couple earthquakes or a volcano eruption would be interesting) ..thx for yer vid 🤓👍🏻🇵🇭
This was very helpful Paul. Especially the part about choosing a State/Domicile that does not tax many/all or a single form of retirement income. I admire how you deal with life's realities...Aging may cause you to switch from scooter to car or heck you could be switching just to have the shelter from rain that cars provide...And the added bonus of longer road trips in comfort.
Thank you Paul for a very helpful show today. I was born in 1954 and will probably stop working soon. My work is so enjoyable that it has not been something I had to escape from. The Mouse is good to work for, especially old people. Your budget is great. I have been talking with my friend in Mexico, Pampanga and wow the difference in rent from there to Negros Oriental seems to be a lot. I think maybe Cebu may also be higher due to being a metro city. Hope to be back in the Philippines in the last 2 weeks of February. I need to explore Dumaguete for retirement. Have not explored the Southern Philippine Islands much. Happy Trails
It's funny Paul I was watching your video today on finances budget and a friend drop by who's a psychologist and said what are you watching I said RU-vid old dog new tricks and he said what the hell is that so we sat down with me and watched it he was laughing going we all have our down falls we all have our problems but I can't answer why you watch this and I said well he reminds me a lot of myself and he looked at me and says no he doesn't why do you watch it and I said because I like it so good going Paul hope your Dad's feeling well mine's the same...
That rent is reasonable. Here in San Diego to rent a same house would be at least $ 5,000. The average apt is 3,500. And grocery shopping that I have witnessed when in store I especially look when it's a family I have saw anywhere $ 200.00 and up and I look what they have and it's not junk food. It's generally a few vegetables noodles and little things just to stretch meals. It's sad to see how much things cost here in the states. I didn't know you were from Nevada that is where I will be moving soon. Not sure if you heard of this town. Pahrump but this is where I will be living. I am a native Californian but it's got to expensive thank you for new video. This will help a lot of people.
Very well explained on your monthly expenses . Its good that you rent an apartment instead of having ur own property coz u don't have to worry about real property tax or maintenance on your roof, etc. paying association dues. Life is so short , enjoy the fruit of your labor, always plan your vacation even if it's around the country only . More power to your channel.
Hi Paul it's Your LOYAL FRIEND RAY FROM CALIFORNIA, Thank You for the information, it is very important and helpful for Me. GOD Bless You and Mae and have a Very Merry Christmas 😇🙏😇🎅🎅🎅🎅🎅
Just found your site, love how you describe everyday life. ! Your drive around vids are Exactly what I need to see before traveling for the first time to Phillipines. I had traveled for years to Thailand, and hoped to retire in Thailand until they increased financial income requirements sky high. Making philippines visa far more attractive. Thank you ❤️ I'm retired in NV! .
Great video as always, great content and even better advice. I hope you're making boo-koo bucks from your channel, you deserve every bit of it. You always make me Chuckle, "Uncle Paulie'!
I was only 58 when my wife, our 8 yr old daughter at the time and myself moved to the Philippines. My H&R tax person (Filipina) said I wouldn't make enough on SS to have to pay. I just googled Illinois. Here is what I saw: " What taxes do retirees pay in Illinois? Illinois is tax-friendly toward retirees. Social Security income is not taxed. Withdrawals from retirement accounts are not taxed. Wages are taxed at normal rates, and your marginal state tax rate is 0.0%."....good deal and SS is all I have. Our 2018 Suzuki Vitara GLX will be paid off next March.
Discuss medical care. Where we live, the locals call the local public hospital " the euthanasia clinic". Private healthcare is very expensive but it's the only way to stay alive if you get sick.
Good for you, glad that you're able to save some money on your budget. But a car? That's a hole in the ground if you ask me. I know no one is asking, but just saying. Thanks for the info.
Good morning, Paul. Thank you for your videos. They are very informative and enjoyable to watch. I will be moving to Dumaguete in January. In your opinion, what mobile phone service has the best coverage area? I want to then research the post plans they offer. Also, what is the company you would recommend for internet? I do a lot of streaming of the programs I like to watch on my Apple TV. Thank you in advance for your advice on these communication items. Have a great day.
I don't know how his water bill is so cheap. Mine is $24 a month here in Angeles City. During COVID, the corrupt water company tripled people's water bill.
Nice video Paul. I believe the Govt will tax your social security if you make over a certain amount in income. such as other pensions, 401K, IRA, and so forth.
South Dakota is another option. Must spend 1 night, then can become a resident. Lots of full time rv'ers do this. Only drawback is you have to spend one night there every 5 years.
Heading to the Philippines in just over 2 weeks. Excited to spend the holidays in the Philippines. Hope I can get down your way for a social visit in the near future.
Great video! Thanks Paul! I'm planning on making the move to the Philippines in the next year or so. Dumaguete seems like a great place. I would still need to work so I do have a few concerns... 1) What are your internet download and upload speeds there in Dumaguete? 2) Is the internet reliable? 3) Does the power go out a lot there? I'm grateful for any info that you can give me.
Philippines right now does not tax foreign pensions, but this could change as a committee is looking into the issue of foreigners living there with incomes from pensions and dividends from other countries. Looks like it could apply to permanent residents, and anyone over a stay of 6 months, even if using tourist visas. So be warned that things can move in the future with the new Marcos government.
I foresee a mass exodus if this happens! There are plenty of other Asian countries that are tax-free for foreigners. Furthermore, how does the government/tax authority plan to tax someone on CC payments or money remitted via cash pickup/collected by a Filipino/Filipina on behalf of a foreigner? So many ways to avoid paying income tax - unless, the Philippine government also brings in a 'Minimum income law' for residency. In this case, resident foreigners will be obliged to remit x $/£/Euros per month which will then become taxable income.
If the Philippine government can tax OFWs for only making 300 dollars a month. They can surely tax Expats on their pensions or world wide income if they stay in the Philippines for over 6 months a year.
Hi Paul, I did not read all the comments because there are too many, but how about health insurance? I'm shopping for one and they seem to be very expensive.
Like your videos a lot but wonder if there is going to be an update on ExPat John working in the U.S. and how his girlfriend/partner and twins are doing?
I work on this principle - a budget of anything less than $2000 per month in the Philippines/Thailand/Vietnam (Asia) is a bonus and any money not spent goes into a rainy-day pot. Plus $500 - 800 per month for medication and medical expenses/emergencies. With an emergency fund of $20,000 and you are good to go.
Flying to Duma in a couple months. Looking forward to chatting with you although I’ve heard most of your lies already! 🤣 Been watching for a couple years now.
Very informative video as I am over 50 and looking at retirement options in the future (hopefully in Thailand, The Philippines, or other country). Good luck in the future to Paul and Mae!
Your friend is right about moving or at least having an address at a State that has no income and SSA taxes before moving abroad. My husband and I changed our address to Washington state just before we moved here to the Philippines several years ago. We are both US citizens (me dual Ph-US). My sister-in-law (my husband's sister) happen to live in Washington. It made all the difference!
Paul, I didn't catch what the cost of your transportation was, you mentioned the cost of gas but not the cost of motorcycle purchase or rental plus insurance.
As crazy as the thought to me of living in the Philippines is, I recognize in you a cool guy. Cool because in every video you are accompanied by a plastic bird, looking like a yellow chicken. I love that you always have it there, which keeps me watching your stuff. We’re probably near the same age and have a certain feeling for the absurd.
Paul...I really enjoy your videos....I’ve noticed in your monthly budget there is nothing for health insurance....BTW..I currently live in Las Vegas where I noticed you once lived ...I’m looking forward to living in the Philippines within 3 years of now.....keep up the good work
Paul you didn't mention sky cable for your TV i'm curious did you forget it or you just do not watch TV etc. Thanks in advance. regards to baby Mae as well..
It because the cost of living his going up all over the world .How much as the price of things as gone up in the Philippines since you have been in the Philippines
Thank you Paul. Brilliant video, as usual. Definitely a good move to buy a car, I commented on this before. I am hanging out for the day you announce your wedding to Baby Mae, that will be an announcement for the ages, sure to bring the whole of the Philippines down!
Hi. Love your videos.. Can you please talk about when you extend your VISA? Do you just show up and tell them that you want too stay longer? Regards from Norway :)
