Money Matters in the Philippines/Will Inflation Ruin Your Retirement? 

I'm 58 years old Waiting at 62.5 to retire and leave US Can not live on $1200 social security in us

My husband is Japanese and retired,the pension we receives reaches 2k in dollars or 300,000¥ monthly,it is very difficult to budget/due to d high prices,d monthly payments,the cars payments,etc.but I have no intention (no plan)of living in 🇵🇭,it is very difficult to get sick in Phil.We are very grateful to the Government of Japan when it comes to medical/health Care ❤ sorry i’m not fluent in english

You said you weren't pushed out in the mid 2014ish times. I was pushed out in 2019. I was like you I worked 45-50 yrs. in the workforce. I did not want to work a 40 hour work week anymore. I worked 20 to 25 hours a week when I retired just to survive. I decided then that it was time to come to the Philippines. I was fortunate I had a fiance'. I am making ends meet quite comfortably here. If I went back to the states I would have to find work again. I am 70 yrs. young, I will not go back to work again. This is my life now & I am enjoying it a hell of a lot more here than I was back in the states.

I still think that the Old Dog is the Best tube in the Philippines to watch I can relate to him more. He seems more Down to Earth type of a person . Tks for the Info you put up. Tim

Food inflation in April was up to 5.7% in the Philippines. Mostly due to rice costing more. Overall inflation was up to 3.7% in March 2024 in the Philippines. 2.7 million people are unemployed there. It's not just the US Paul!

6 months ago i went from the american dream to loseing my house, my business, and my dignity, now i live in america with no car, no exwife, no house, no motorcycle, no furniture, but ill be moveing into your neighborhood 23rd of this month in velencia

I'm 50 and I met my loving and caring Pinay on Christian Filipina during the last week of my 18 month subscription. She reached out to me and the rest is history; no games no scams 👍🏾 Been here just over a year on 1/3 of my retirement. I'm still divesting financially from America. Although the beaches are awesome the infrastructure sucks but if you find the right Pinay that has come from a good family it can really be worth the log jams & bumps, and there will be bumps 😂 Even if we decide to search other places in the future, the U.S. just isn't a place i perceive suitable or affordable anymore. I owned my home and a business or two but the juice wasn't worth the squeeze anymore. But my main issue was the uptick of violent crimes ✌🏾

Health is wealth, if you're not healthy, don't move anywhere you are not already familiar with.

Inflation is bad however Americans have champagne taste on a beer budget

Paul, you are benefitting from a strong dollar in the PH. The dollar has been rising vs PH peso, dollar is up over 20% vs Peso in last three years. The strong dollar is increasing your purchasing power in PH, and most countries. Our pain is your gain!

60% of Americans do not have a 1000 in the bank.

I've looked at every country there is and I just keep coming back to the Philippines for the same reasons. This year I received my permanent resident visa for Mexico, I can come and go as I please with no restrictions (Inflation has hit Mexico hard, it's not cheap anymore). Many countries you cannot do this. Many countries require you to spend a minimum amount of time in the country usually 3 to 6 months. Many countries have no retirement visa or very expensive retirement visas. For example, Kenya wants to see a monthly income of $2400 USD. Thailand have many different retirement visas depending on which one you qualify for it's not forever like in Mexico or the Philippines. There comes a time in Thailand and Malaysia you have to renew your retirement visa. Thailand. like the Philippines wants a minimum amount of money in their bank. Europe has some decent retirement visas but it snows in Greece in the winter and it's extremely hot in the summer. I'm Canadian, I don't want to see snow ever again as long as I live. Greece is only 30% cheaper than Canada, that's not good enough. I'm too old and lazy to learn a new language. I still have 10 years before I'm 65 but I don't want to wait that long. And when that time comes I wouldn't be able to afford the rent in Vancouver. Even if I owned a condo outright, the monthly carrying costs in my building is $750 a month. I would be house rich and cash poor, it's just not worth it. So many of us really don't have much choice at all.

This is all done by design.

Paul I think this is one of your most informative videos! I’m one of those 50% who has a passport. I’m living in Houston. The new house I paid $119.000 twenty years ago is now appraised for $275.000 now. A McDonald’s burger, fries, and drink is about $12.00 here. (Including the tax). Love your show, been watching for 5 years. Plain to visit the Philippines next year for a wedding and to scope the country out. Would love to meet you then and take you and your lovely wife out to dinner. Keep doing what you’re doing. Each time I view one of your videos I learn something new.

Stimulus checks were an Fn joke!

Sobering facts Paul. I can't think of a more compelling indictment of those who run the Fed and how they have failed us, the American people. I hope inflation does reverse soon. The Great Inflation in the past lasted from 1965 to 1982. I've had my passport since 2018. I'm 61 and am building up my retirement savings as much as possible before retiring. I'm still researching a place overseas not just to survive but to enjoy retirement. Thanks for all you do to keep subscribers like me updated.

I’m 45 now. I started “watching” your videos a touch under 4 years ago but the best thing I’ve ever done was deciding to start “studying”them. The thought of retiring never crossed my mind until I started studying your life experiences/wisdom. Some difficult decisions had to be made over the past few years…down sizing the house, selling my “dream car”, giving up certain luxuries, consciously choosing to make moves that pay a return instead of a cool looking instagram shot. Dumping the savings into assets that provide a return. You’ve not only changed my mind set but you’ve also helped me triple my net worth in under 4 years. Thanks old dog!

I pulled the trigger and went to Panabo City in January to meet a filipina, got covid real bad and almost died and did not get out of the philippines until the end of April I am going back in june for good, getting married and living in Panabo City, the Philippines and it's people are the best!

Food and Fuel has DOUBLED since the beginning of the pandemic. FOR REAL.

Hi Paul, We sold our house for a lot more money then we thought we would get $$$. The biggest shock was price of rental and housing. We ended buying a house in Butuan City. The price of the house has already increased by more then i can believe. Other expenses have help us save money... Our new house is in an excellent location with everything very close. So far we are coming out ahead, yet it has been challenging. Think Twice about moving to Philippines..........

I really think a lot of it is lifestyle creep. 1 phone line, cooking at home, a used car used to be the norm. Now everybody has a phone, its new cars and full coverage insurance, if cooking at home it's shortcut cooking (not dried beans, flower, etc). I live on around 2k in California allowing me to invest 20% and spend 6 months a year in Asia not working. When people ask me how I do it and I explain I just drive 5k cars with $65 a month liability insurance and cook at home they look at me in horror. They just aren't willing to cut out all those expenses that are now "needed". I spend $11 on 2.5lbs of coffee at Costco , at work they no longer go get a $5 coffee, it's now a app and a delivered $9 coffee. It's crazy! I think a lot of the cheaper living in the PI is living a simpler life which can still be done in the US if you make the effort.

I'm not sure for many that 50% is actually a real 50% as many live beyond their means. The average new car is $47k, $1500 for an iPhone. People want the best and consider it normal. These people need to be buying Toyota Corollas or Ford Mavericks and Android phones. It's not about doing without but being smart with your money. Nice of you to put all this effort in doing this research when you could just be putting your feet up. 👍

when we left the states and moved to the Philippines I was 58 yrs old. Selling all our worldly possessions there and cashing out a very minimal 401-K and having my pension bought out at no choice of mine was how we got by. Took my SS at age 62 and today it is $2160 a month. We live very comfortable.

The cost of living is high, but it beats the alternative!

Thanks for covering this, Paul. I stress this on my channel as well... the need to live in a lower cost-of-lving country is one of the best life investments a person can make. Inflation in the USA is crushing us all.

Interesting video, Paul. But now, how about a follow-up video on inflation there in the Philippines. Inflation is a global issue; and to be fair to those thinking about moving there, the discussion needs to be made about that. The facts are that there is no place to go to escape inflationary pressures. At least the US Social Security has a regular cost of living adjustment, unlike some other countries

I just landed in Dumaguete10am Saturday May 4th (yesterday). Despite years of "Internet recon", I have been surprised at how cheaply I can live a decent lifestyle if I so chose. The key is, of course, how native are you willing to go. With the heat wave ongoing, I walked to Robinson's Mall in the early afternoon to troll about with AC. For lunch I had a KFC chicken sandwich combo meal in the mall, which cost me $2.60 USD. I asked some of the local Grab drivers where was a good place to eat at dinner time. I ate at a local eatery on Valencia Road. 2 small beef patties with gravy, rice and a coke cost me $1.40. I've already found a place to lease a fairly new Honda Beat 125cc scooter for $105 per month. This is NOT KANSAS Toto! So much is different, and even challenging at times. The biggest selling point for me is I am now doing what I want, where I want, when I want. 😊😊😊😊

All ready has thanks joe

Excellent video! I was particularly struck by the increase in the percentage of U.S. passport holders. I had no idea! I resided in the Philippines from 2016-2020, and then resumed living here in 2023. While it's much more affordable than the U.S., it's also true that prices have increased here post- pandemic. The dollar has risen in recent years against the Philippine peso. So, while it is favorable to exchange dollars for pesos, the strong dollar puts pressure on the Philippine economy, especially on gas prices. When I left the Philippines in 2020, gas sold in my city for roughly 37 pesos per liter. When I returned in 2023, the price was 57 pesos/liter, about a 50% increase. If possible, I think it's helpful for a retiree to have multiple income streams. If you do your research, it's not hard to find places that pay 5% and up on savings, for instance. Every little bit of extra income helps to offset the effects of inflation. Again, thanks to Paul for a great video!

The evaluation that one needs 140k-170K per year to be comfortable vs average income for the US ($75K) demonstrates the pipe dream. "If we earned more, we would be fine." And 60% are living paycheck to paycheck(this number also includes people earning 250K to 500K per year). Why is that important? Because a majority of Americans do not understand Wants vs Needs. When you talk about minimalism, most Americans do not want to live like that, unless if they are forced. They need that phone updated every 2 years, they need that new low mileage leased car every 2-3 years, and a lot of these complainers never lived through the 70s, when inflation was a real pain. A 7% home loan is like 1988-2001, was fabulous, after the mid 80' 18% mortgage. The inflation that we are seeing is Ukraine war induced(loss of Russian oil on the world market), and corporate greed by hiding price increases in that oil induced inflation. 3.4% per year is nothing like the 70s and 80s. But your friend was right, if people stopped buying, then the inflation would go down, house prices would go down, but there are too many people earning too much already.

Paul I always enjoy your videos but this really hit home and makes me think hard about retirement, the economy, stress and my over all situation. Thanks bud 🙏🏻

Interest rates are great for those that saved.

Hi Paul, dollar stores still exist but they are now price at $1.25. And yes you are right inflation is through the roof. Rent is at least $1500 for one bedroom in a decent neighborhood. They say America will be a rental nation in the future coz single family homes are all bought up by big corporations. And if you own a house taxes and homeowners insurance will also get you. They say the American dream no longer exists unless you make 200K to afford a house.

On a positive note for travelers, the dollar is strong against the Peso and Japanese Yen.

The ship is going down !!

Great video . This is actually the biggest issue on people’s minds here in the U.S. imo. If current prez doesn’t get it fixed he won’t be in office very much longer . This country is completely changing . Not surprised that so many people are looking to leave , unfortunately.

The ship is sinking and it's time to bail out! We're heading there in 5 weeks, thank goodness.

Excellent Paul, thanks for sharing.

Poor choices leave to no options. The cost of everything has skyrocketed in the US. I am 49 and save and invest until it hurts. Money will give me options. Great channel, Paul, but I feel no sympathy for people who choose not to save and spend money to impress people that don't matter. Social security was never intended to live once retired.

As inflation increases around the world, it's a great time to hold onto you investment properties and so forth and ride it out. Bad time to sell everything up and move to PI, in my opinion.

I live in Cambodia and have lived here for 10 years. October of last year you talked about the "I am alive " letter. You need to send this letter in in June!!!!!! Why???? Mail is erratic in Cambodia and I received my June letter on 28 of Dec. I received my October letter on the 25 and mailed it out by the 28 of October. Arrived in California on the 6th of November and the US Customs attached the letter for 90 days. I lost my SSA retirement for he month of February. FBU in Manila sorted it out by the 28 of February. Down load and send the letter buy June. Do not wait for the letter to arrive. Take care before October.

Well, my expenses per month is 1250.00 USD. Thats everything rent, cable, utilities, ins,, food, medical expenses and car. I do share house expenses with a room mate on a 2 bedroom apt. We pretty much hate each other, OH WELL!! LOL. I am 68, and always as you say 50/30/20 rule, or my 3 ways I spend money. it makes me money, it saves me money or it makes me happy !!! Great channel you have

we still have a dollar store but its $1.25 now

"INFLATION TAKES FROM THE IGNORANT AND GIVES TO THE WELL INFORMED" - Venita VanCaspel

Nice one old dog

One of the better topics.

Oh it's only "transitory". LOL

Short answer hell yes😮

Hi Paul, this is so true. As a US Retiree in German, my German retreemant after taxes and health insurance is €1,611.00 which is about USD1,725 plus about USD300 from the SSA. I hope to fly back to the Philippines to find the grave of my Nanny from 1961.

I think for many is the family. Sraying here for the connection with loved ones. On another note Id like to see a video from you about the things that you do not have for quality of life i. The Phillipines tgat you touched on briefly . "This is not paradise"

Is brother Paul looking more and more like Colonel Sanders everyday or What!!!

Nuts over here now! A couple years ago at 45, I posted on another prominent PI RU-vidr’s comments about my primary concerns being inflation and the devaluation of the green back. He replied that he didn’t live his life according to “what about isms”. Then the other people in the comments told me to stop watching too much TV and other nonsense so I was pretty much dismissed. A lot of people want to put their head in the sand and live in la la land and I do get it to an extent, but now that scraping by at best is the new norm, people are finally taking note of what was obvious to me.

I have no problem with high interest rates. I’m finally getting a 5% guaranteed return on my savings

I'm near Lexington Kentucky - a Big Mac fry & a coke - is - $ 8.47 including the 6% tax. -- Much better than many places in America ! -- Moved here 2 years ago from Arizona where I was retired but inflation drove me out !!! -- Big Mac 'meal' there - now - is $13.99. I'd be on the streets in Az. as the rents are unaffordable for many retired & Phoenix has 70 & 80 year old seniors - on the streets with only SS !!! --- The Philippines or Cambodia looks - '''inviting''' - compared to Biden's America and the sidewalk in a tent for retirement ? 🤔

I've never voluntarily entered a McDonalds, though I have been dragged in there by friends a couple of times.

It depends upon your personal financial situation. My wife and I own 3 residential and 3 commercial properties. We bought our first property prior to re-locating here. We don't pay rent and we have a business, an income and investments. We are not affected by inflation at all. I would advise any foreigner wishing to re-locate to the Philippines to find a partner they can trust and then invest in property. We probably earn around 40KUSD per year in the Philippines and maybe spend 20K.

Kingsford charcoal I buy every April during Home Depot sale used to be $9. For 2 bags, Now it’s $20

This is a great informational video about America's inflation and the effects of the state of their retirement savings.

Paul! We now live in Cavite, after almost 40 years in California. What a relief. Built 4 bedroom 2 and a half bath house in the mountains of Tagaytay with mt Marami in my back yard. Have 1.2 hectares full of pineapples, bananas, mangoes, etc.

Old Dog Paul, my friend! You hit the nail in the head. I just finished the Camino Portuguese pilgrimage from Lisbon to Santiago and not only I can attest how inflation has driven a wedge into lower middle class in North America but there seems to be conscious squeeze of retirees. Even university kids who land here in Portugal or Spain are shocked at much affordable food & day-to-day things are here in Europe. Not only more affordable but free of chemicals more healthy.

I just have a hard time selling everything and head to a different country! I would rather have assets that appreciate and live in an area I can hunt fish and trap for survival! I am in a rural area with like minded people! If I lived in a city, I might think of selling out and moving! You have to be debt free to survive though!

Hey Paul, yeah the old friend Inflation rubs my inflamation. Inflation has spread its tentacles all over the place from Far East to West. Only time will tell not if, but when the bust will come knocking at our front door. Until then, the dollar value keeps shrinking, unlike the national debt as long as they keep printing that monopoly money. Guys do your diligent research on respective locations you wish to relocate to as prices are increasing just as quickly as back home.

inflation is like a tax

BULGARIA!!!!!!. I'm British and moved to Bulgaria 8 years ago. Best decision I ever made. Cheap country to live in. You can buy very cheap houses to renovate from as little as 10,000 euro in quiet villages. Then enjoy renovating it yourself or pay for someone else to do the hard work and sit back and relax. In my small village alone there are a few Amercians . You can get a visa here if you have a state pension not problem. The rest of Europe on your doorstep to explore. Hot summers and cold winters. Living the Dream!

The first thing I would do if I was an American living in America, is stop demanding an affluent lifestyle and therefore being forced to toe the 50/20/30 line and adjust it, by buying a dump and living in it whilst repairing it, and then flip it for another dump, and keep doing it until I could afford to buy something nice to live in long term. It may take 10 or 15 years to get to that point, but there goes a large chunk of the 50% and whilst you are doing that, you may not have the time to take holidays to blow all of the 30%, and so you may find yourself on a 50/30/20 ratio and once you have hit the 10 to 15 year point, you may find the ratio has switched to 30/30/40 or even 30/40/30, at that point you can afford to live the luxury life style everyone is supposed to aspire to living. I did it in Australia and it worked for me. I wasn't necessarily aware of the 50/20/30 ratio at the time, but now I'm retired and not dependent on receiving the Australian Age Pension - Social Security equivalent, as I fail the assets test to receive the pension. Happy as a pig in s£$t living in Dumaguete. Yes, the Philippines does not have all the infrastructure that your home country or even some countries in Asia have, but it is improving and if you are prepared to put up with some disappointments at the moment, things are getting better all the time.

It will NEVER come down...only slow down and speed up.

Love your videos I'm grateful I moved in 2017 to the Philippines best choice I made

The increased cost in apartments is a real budget killer. If you're happy in the Phillipines, might be best to stay there.

No matter the inflation here the US is done !!

Paul I'm here in the Philippines. Your spot on.

Great topic for those in the US. I know that inflation is on the rise in the Phils to, I have wondered how it would affect us expats

Paul, you are talking about "Golden Years" - not for seniors, only the doctors profit from the "golden Years". We are a senior couple, 87 and 82 years old, and I would move to another country, but the old man wants to sit in his nest like a old chicken. I would move, sell everything and go. (no grandchildren here). Praise the Lord.

Great info!

jamming those ads in

Leave the USA for other countries where costs are cheaper. Sell everything. Rent.

On the McDonald's app here in Riverside County CA I can get a Big Mac, medium fries and drink for $6.50 if I use the deal menu. It has to be a mobile order. If you plan to live in the Philippines on $1200 a month make sure you live across the street from the SM Mall so you can use the free air conditioning inside...you will need it.

Inflation is an interesting topic especially if you are not wealthy. Lets face it, the oil companies are at record profits. Why (imho)? Because they can. Food delivery Etc. depends on fuel. Why is fuel not cheaper in oil producing states than others? Because they can keep it high. Thats my vent.

Good stuff, paul.

Paul, more people have passports because they are required for domestic air travel. I think if you have the upgraded Driver ID called real ID would work also. I have a regular Drivers license so I had to renew my passport just to travel out of state by plane.

You are wise grasshopper! I always enjoy how you lay things out that’s very easy for us to understand

I got insulated from the high prices in the U.S., during my 3 months in the Philippines. When I got back, for my liquidation, I went to Carl’s jr for a burger, fries and drink… $17! 😲 Groceries have been a shock, too. 😡 I would have to argue with your sources that are reporting a 3.5% increase! But I look at your sources, and see they’re in bed with the current Administration. That’s why we only got a 3.2% COLA increase in S.S. this year! I can’t afford to live in the U.S. on my S.S. retirement! But I knew that when I retired, and already had plans for relocation to the Philippines. Heck, my mortgage is all of my monthly income! Yes, the Philippines isn’t a utopia, but for me, the occasional inconveniences and lack of infrastructure isn’t as much of a negative as being able to live financially, the great Wife and Family I have, better weather, and other benefits that outweigh the negatives.

Life is has definitely changed in the last few years. Stress and just working to meet your needs and to pay bills is what the majority have to do. The simple life is longed for

I also heard that credit card spending has become part of those who are living paycheck to paycheck. These people can’t save for retirement and most likely don’t have an emergency fund. Goes to show you that wages aren’t keeping up with inflation. As long as the 🇵🇭 peso stays above 50+ to the USD I’m good. I will say that I feel for those in the US who are struggling right now. Hang in there everyone. Bad times don’t last forever.

Spot on on figures but i think its more i live in the South its always been tough

Great show buddy and a good overview of the inflation that has slowly crept into the world, mainly down to countries spending and printing money 💰 they do not have. I love a man who laughs at his own jokes 😅 .

Great analysis Paul. Thanks for spending the time to gather all this data. Peace

Good information video Paul thanks.

wow

62 Work/ + 21 Vacation/ 118 Calendar Days until Retirement with a 72% State Pension. Another 45 Days until I get on the Plane for Cebu City. If I were to stay in the US, I'd NEED to file for Social Security OR get another job. In the Social Security Scenario: Inflation will force me back to work at 71. In the New Job Scenario: I work TEN MORE years in the NFS, take Social Security at 67 & only live 10 years after Retiring at 72 to be Financially Stable in Retirement. Running the Number in the Philippines: My 72% Pension + my Roth [Emergencies] are adequate until 65 when I file for Social Security & Medicare. I will be Financially Stable for the 21+ Years I'm expected to live.

you are the best thank you

I love the thumbnail. Excellent job.

The price of homes is already dropping. People just walking away from their homes as well. Banks are closing in the US. Commercial properties are standing empty, and the owners of those properties can’t afford to continue to pay the mortgage when there’s no one rent their office space, people cannot afford the house Today they could afford two or three years ago because the interest rates are so high for those houses they have had to settle for much less home for more money. Food is up by 50%. Gas is up 100% over 4 years ago. Businesses are closing in huge numbers. 2008 will seem like a spring shower compared to the storm that is coming in 2025. I am not at all exaggerating when I say the US is going into a depression. People that could not pay for their everyday expenses foolishly used and maxed out their credit cards and now they have real troubles. I will come to the Phils in August and am planning to come see you that same month but I am worried. The SSA is broke and the people working now are paying our benefits. I worry that our benefits will not be paid or at least drastically cut as 1,000’s are losing their jobs every day. Nit to mention that bumbling poopy pants Biden has allowed millions of illegals in that will work for nearly nothing. Low paying jobs pay low taxes if they pay taxes at all

Not everything that goes up will come down. The high prices that high inflation caused is here to stay.

Nice shirt Paul a ribeye in the store yesterday Missouri was over $22 for one steak. It used to cost that in a nice restaurant I had to get manager special old steak😂

Another very informative video Paul

When they give you the inflation rate on food, they’re telling you how much it went up over that month. Over the last three years food prices have increased by 100% so if they say the inflation rate is up to 2.2% You add that to the 100% and get 102.2% that’s how inflation numbers work.

I did a little Law Enforcemnt before I went to into Government to work in psychiatric behaviours. My concern about inflation in any country is yhe homelessness and crime or home invasions.On top of that when you go to a cheaper country and the people are being squeezed like ketchup they may become more criminal ,dangerous and desperate.The wife and I went to Cuba for 12 years until the youth were allowed to have IPONES and they saw the world outside and free delivery at Amazon which made them frustrated , angry and aggressive like my alcoholic mother inlaw.

Great video Paul. Adaptability is the key. Research first, see how you want to live and what is important to you. I'm 69 (this month), I have my retirement checks (2) plus SSS. I get by here, but it does help the wife working to cover certain items we take care of in Philippines. We plan to do the "snowbird" thing for a few months at a time. Lots to think about. But your channel does give out some great information for me to ponder. Keep it up!👍

Excellent video !

I ❤ all videos by Paul