At 55 I just finished taking care of my wife who died of cancer. Sometimes life gets in the way no matter how hard you work or how carefully you plan. Pay cancer bills for 8 years on top of everything else and see how finances are rocked. Then paying funeral expenses after that is just a sweet gut punch. Here’s the thing. Everyone has to find their own way. You can get ideas from someone else but following exact steps may not work. I sincerely hope no one tries to do what I did. ✌️
I was fortunate enough to retire at 50 last year (10/2021) after having worked a total of 32 years for the US government (8 years USN / 24 years Federal). You hit the nail on the head when you said planning... I began planing my retirement at 26 when I left the USN as an E5 and became a fed as a GS5. 24 years later, I am leaving as a GS14 and although I could have work another 7 years (mandatory retirement for law enforcement is 57) ...i decided to pop smoke because of what is happening to this country. The only thing I might add to whet you've said is to know when to say...enough is enough. I've known many people that for years, talked, dreamed and planned to retire, but for one reason or another never found the the courage to walk away...until it was too late (health problems or too old to enjoy retirement).
Best advice you ever gave me, thank you I watched your channel for 2 years during the 2 years of covid locking down the Philippines. The day the Philippines open up on the 10 of February 2022 I gave my notice at work and made it happen got here the 30th of March and never been happier. Thanks again Steven great vlog.
Great video Steve. I retired just short of 65th birthday. I had 28 years of federal service plus working for private industry and paid into social security as well. I wasn't able to collect the full amount on both and lost 600 per month due to "double dipping " i don't agree with losing that amount since I paid into both but now I am little under 3k per month. Not enough to survive here in USA but enough to live comfortably with a good woman. I refuse to stay in USA and have to apply for section 8 or food stamps just to survive here. Also looking at 8%+ COLA for both retirements next year. The choice is simple. Only challenge will be medicines and medical care but plan on making yearly trips back to Boston to keep my health as best as possible. The long flights are a killer lol.
My father retired at age 55 42 years ago. The dollar went a lot farther then. And he had a lot more to show for. Both my parents are long gone now. But they were great and raised me well. I live in the home they raised me in. Inherited it after my father passed. They bought in in 1962 for 18 grand and paid it off in 1967. Never been refinanced. My summer home is high up in the the mountains of Montana. Off grid. No mortgage on it either. I'm grateful for what I have. Life is what we make it. By the choices we choose. Be careful of your choices.
You're a good man Steve I'm glad I discovered your Channel couple years ago. Straight up straight shooter with a heart of gold. And you inspire people daily in your own unique way. keep up the great work and I will continue to listen to your thoughts...
I retired at 50, being offered early retirement from Civil Service. Mostly this was possible, because we have no children and, I started working at 14 years old, washing dishes and going to high school. I retired both military and civil service, so, life is good.
Great video! My husband and I have been planning our early retirement for the last couple of years and it looks like we will be living our dream next year. We are hoping all the covid restrictions and rules will be lifted in the Philippines by then. My husband will be 42 and I will be 44. We have elementary age kids that will be enjoying their mommy and daddy at home. So excited for our new life there in the Philippines.
What I love about your channel is that your always transparent and you keep it real. Thanks for all your videos 📹. I have 4 years to go I will have 125k in my 403B Retirement account, plus pension from my job and SSI . I hope that's enough. I keep hearing to many expats going broke I'm not tryna be one of them 😅.
Love your videos, man. Especially the idea of staged retirement: retire early, 59 1/2 can start taking Roth IRA, 62 or 65 Social Security, etc. Live life and travel while you are able. I came to the Phils in 2015, for five years, in my 40's and had back issues all my adult life, My wife's neighborhood in Manila had many really good massage therapists, yes, the real ones. After a couple years of weekly/bi-weekly $5 massages, 99% of my back issues, and therefore leg issues, went away. I just have to do maintenance massages once a month or so. I was teaching online 5 hours/day for years until that industry took a nose-dive. Can't wait to get back there in a couple years.
My initial plan was 55, invested in some real estate instead, got lucky and got in at the beginning of a boom and now my new plan is 60 2.5 years away and in a much more comfortable way. Fingers crossed anyway.
Hey Steve thanks for the video. It's nice to hear you open up honestly on your real finances I think that is very important. I know you were old school about telling exact dollar amount (like my mother) but hey who cares if you say your exact amount, I think it put a realization to your situation and how you retired instead of before all I was hearing somewhere in the sweet spot. I will say another vlogger not too long ago shared his exact amount also and that really helped me to trust what I'm hearing instead of being vague about it it's not like they're going to come and take it...lol any way thanks for not being so vague this time...I'm retired 57 from a disability and small pension. SSDI= $1886 + Teamsters pension $1550 + $250K savings= happy life in the Phils...not trying to brag the last $200K was an absolute shocking inheritance I never knew I had coming... willie stuck in Seattle for now
Interesting blogger realistic i enjou your commenteries im arriving back in mactan budgeting 5 grand a month im going to enjoy my self at 70 cheers steve
I retired at 55 in 2011. Money was never the issue for me. My work pension far exceeds my Social Security benefit. One of the big incentives to retiring early is to enjoy life on your terms while you are still healthy and energetic. When evaluating the dollars and cents don’t dismiss the value of the time to live as you please. Psychologically it is important to learn to enjoy the life you can afford.
Steve I suffer from back issues too from a car accident I had arthritis really bad in L34 and five August 24 I went into Jefferson‘s orthopedic Kosovo in Pennsylvania disguise a miracle worker he got rid of all the arthritis in my back it freed up the nerves and it freed up the blood vessels and he cut a little herniated disc away I’m 70 and I feel like I’m 40 now gods honest truth I’m only taking 110 mg pain pill half in the morning and half in at night but by the time I get over to the Philippines I won’t be taking anythingI’m just winging myself off that 10 mg hi swear I feel like a new person I’m gonna be 71 February and I’m thinking of investing in condos and put it on Airbnb I just haven’t decided where I want to do it yet but you seem to be pretty educated dude you know in what you do you do your homework and that’s the key I give you props for that
God Bless, You deserve it and Thank You for Your Service they advertise a wrap here in America for that. I will write it down the next time l see it, yes the older I get the slower I move. In the morning
Thank you, thank you, thank you. All I see is low budget retirement videos so I've been nervous about feeling out of place. But you said that most expats will be like me and that makes me feel better.
It's almost like you're tailing directly to me lol. Im turning 44 in March. Retiring at 55 (at the latest) is the current plan. Im hoping that all the hard work Im currently putting in right now focusing on saving money and investing it will make it so i can retire even earlier. Who knows, maybe ill be out there in 5 years lol. I hate to say it but a lot of it will depend on how the stock market does over the next 5-10 years.
!!!-Mabuhay-!!! I'll be retiring in the next few (4) months after a 30+ year career with a state pension at age 56. The Mrs. of 31+ years and I started our preparation a few years back, and already have our "Vacation House" in the province, built back in 2016, and now an N-Max scooter and also recently a Toyota Fortuner. We've been slowly making the transition over there the last year and are SO!!! Looking forward to retiring later this year, and making the final move to our established province "Home Base" to start. We'll still stay in the Visayas to keep the Mrs. happy, but that's a good sized area to find/build our forever home. Keep up the good work with the information you put out!
55, significant Birthday for sure. I'm turning 55 in the fall and trying real hard to shave some years off my 6 year plan to head there for good. Good words Steve, thanks as always for sharing. 👍
Great video Steve. I admire people retiring early. I don't know if I can do that. I only live off my paycheck. The thought of start using my saving before my SS kick-in scare me.
Retiring at 55 is definitely doable if you worked for the Government for 30 years and have that Gov pension money coming in every month. But if SS is an important part of your retirement strategy retiring at 55 is going to put a big DENT in your lifetime SS payments. Most people make their highest incomes from 55 to 65 which helps boost those SS payments when you do retire.
Aloha lads good walk good stuff.....i like these types of blogs real people real situations real life awesome that the channel $1.000 i was blown away that really good i am thinking of starting a channel Keep rolling good stuff thanks ken all the best God bless ye
Great info once again I am planning and have a totally 180° off the vlog idea because I'm still in the US. You give me encouragement and a sliver of encouragement is all I need to make things happen thanks again bro
We retired at 55 because we both hated our jobs but they were just a means to an end. Your dead on about planning Steve, we planned our retirement for 30 years & took steps toward that goal throughout our working lives. Many people are afraid of retirement weather its financial or fear of boredom, I say don't be, you will find ways to make it all work out & if not alter the plan to fit your own needs. We spend half the year in the Philippines & half back in Canada & that seems to work for us right now when it doesn't we will alter the plan. We can survive on P 50,000 a month in the Philippines if we spend most of our time around our home but there are months when we travel that we spend P 200,000 so your estimate of a sweet spot of $2500 to $3000 US is a good monthly average to be able to enjoy life. Take care
I retired at 55 as well. I had a heart attack at 50 and decided I did not want to work until the day I died. My Pension kept the bills paid until 62 when I took Social Security. I did the math to see when I would break even financially with someone who waited until 65 to collect. The number came up to 80 years old. I get about 2 grand a month Social Security.. So that times 36 months is $72,000. If I waited till 65 I would get $400 a month more, but it would take years for that $400 to add up to $72,000. 180 months. So 65 + 15 years is 80. I have had 2 heart procedures since 50, so it looks like I was right and will likely die before I hit 80, (68 now).
Am 57 yrs and could retire today. Reason for delay until early 2024 is 1. I enjoy my job and those I work with. 2. I'm saving literally a mint, which may come in handy for future potential medical issues. 3. Also, thinking it's better to wait until things open up 100%. While unlikely the virus will come back, socially gov'ts are bit slow to change. Things will open up even more next year, I suspect. For me, like many others, retirement is one way. After retirement, you cannot return back to working without huge risk and bigly salary decrease.
Hi Steve, like your videos. However, recently listening to some videos has discouraged me from retiring in the Philippines. I was not born in US but I am a citizen. I arrived at a very late age and ready for early retirement at 62. My working history will only afford me SS of $1050 a month if I take early retirement. I do have a fair amount in savings. I have visited the Philippines twice for which I wanted to live the rest of my life but now I have to consider going to another country. I really want to retire outside the US and always loved southeast Asia. Thanks for some great videos. God bless!
Hey Steve, Long time watcher, short time commenter, I'm looking into retiring there in the next year and you have a GREAT system set up to help us expats so hopefully I can be able to pick your brain a little. Just to start, I'm a retired Navy Chief, 67yrs young, fully retired drawing SS, have been married to my Filipina wife for 32 years. She's from Iloilo but has family in Manila. Our grandson works there where you are (Trece Martires) at PureFoods, I know ironic isn't it. Hopefully that helps us also. Anyway, we're going to vacation there probably next February-March time frame and I would love to meet with you, maybe buy you and your Girlfriend dinner, to discuss our future there. Of course, I have a million questions and I don't want to bother you too much but whatever you can help us with will be deeply appreciated. I've started my "White Board" already and we're beginning to work the plan.
Nice to hear that while helping others you're also getting a return on the effort...Well deserved...The vlog approach will definitely work as a bridge for survival ($-wise) until some other income streams kick in or even as a long term strategy...Indeed online business (many models will work and most can be done from a laptop) is booming overall as more people are deciding that the old paradigm just doesn't fit into their dream...I help people from all over and from various backgrounds get started actualizing this and it is rewarding as I see that "aha" moment...They get it...Good subject today and inspiring...Cheers from Dave in Dubai (for the moment but not forever - PH in my future!) 👍😎👍 🙏
I had sciatica for several months. the more therapy I did, the worst it got. Then I got ahold of a book that said sitting put 50% more strain on the lower back than standing, kneeling, or laying down. For a month I did not sit except to drive to Doctor's appointments. I got better. I did not sit for another month and have been pretty much cured ever since. If I start to feel it coming back, I reduce my sitting. For it to return I usually have done something dumb like trying to lift something with a bent back. Bend at the knees and keep the back straight up and down as possible. Keep in mind leverage. Even without lifting anything, when you bend over, your 20lb head becomes more like a 50 strain on the lower back. I wish you well with it. BTW the good news is as we age the disks shrink, so even without doing anything your pain will reduce as you get old.
Great video, i'm planning to retire when i'm 60, only 3 years to go on my passive income, sooner If I get my act together. just getting over a few health issues myself then I'll be back in the Philippines. I started my channel a few years ago and was doing really well until Covid.
if I went the full 20 instead of getting out after 8 years in the USAF, I could have "retired" to the Philippines at 35 (having to do visa runs until I could get a SRRV). Hindsight is 20/20, but looking back is still a bit fuzzy.
Hoping to semi retire at 50. 3 months in the Phils and 9 months in the UK. We already have a house there, we also have a farmland, hoping to build a commercial building from the farmland’s income in the next few yrs. At 50 (im currently 42) our UK mortgage will be paid off by then. At 55, hoping to do 6 months Phils and 6 months UK. Maybe fully retire at 60. We could potentially stay in the Phils full time in 8 yrs time as i work remotely and can take it to Phils but I think we like to spend time in both places thats why we are not planning to sell our uk home or rent it out.
I'm 48 now and plan on retirement at 51 and moving to the Philippines with my wife at 55. Should be getting between 3500 and 3700 per month with my pension.
55 will be the max, trying to retire before that time. SRR visa starts at age 50 but need more research if that's the better option compared to extending a tourist visa.
Hi Steve. I'm working on trying to be in the Philippines before November, if things go well. I appreciate all your help and information. Thanks for everything stay safe and God bless you and your family 🙏
What i would like to tell everyone is I've come across more then 1 person who worked union jobs, sometimes more then one, for over 5 years and never bothered to to see whether they vested? Even people I've met living on the street! Guys, CHECK TO SEE!!! Don't assume that you aren't getting anything because you worked a short while! If you worked less then 5 years then probably nothing......but with many plans the vesting requirement is only 5 years, AND you can get it at 55 years of age.
The problem with You Tube is People think they can make a lot of money with it. I am sure it takes some time to actually make a substantial amount. How long has it taken you to make $1,000 per month. I think it's fabulous that you have been able to do that. I look terrible on camera, which stops me and also I wouldn't know What to create.
Hoping to retire next year and meet you in july when i go to meet my ldr gf in Duma…also planned to retire at 60 until the divorce hurt a lot…salamat for the encouragement and ideas …God bless you my friend
I know it won't work for everybody, depends on your situation. But yeah it's a good idea if possible. I mean we won't know, life is short. My father had a heart attack, had to go through heart surgery and he actually just turned 60 a few months ago that time. Now that I think about it, we almost lost him that time and if we did then he wouldn't even have had the chance to enjoy his retirement
I am hoping to retire in a few years. I am 51 now. So maybe around 58. I figure there are lots of things I can do to make a little money. I don't know how realistic some of my ideas are but I always thought of opening a bicycle store near manila. Maybe operating a little hotel/Bed and Breakfast. I realize I am not going to do something that will make me rich over there but a few hundred a month wouldn't hurt. I can fix things. My dream some day is to open up a Bed and Breakfast in Palawan. 3 to 4 room hotel with a little diner and bar.
With all the vloggers in the Philippines is it getting over saturated? Also, if someone wanted to start a vlog how would one get started, where could you research about it?
Vietnam. ?. They don't offer retirement visas. I've pulled the cord at 55 last month, already in SE Asia finished up work. Shortlisting places to spend my golden years...
If there is one thing I would like to impart to some of these people who have a little savings and a few years to go before punching out. Put some cash into USDC on a platform like FTX, Gemini or Voyager. They can earn 5-9% APY depending on the amount. It’s not difficult, and is as straight forward as opening a bank account. The one caveat being, there’s no FDIC, but the cash backing it is FDIC insured. As an example…Maybe invest some of the cash buckets? If someone sets aside $10k for self insurance at 8%, it will add an extra $800 the first year with no effort. Throwing $25k onto Voyager at 9% as a startup fund could help keep pace with, and exceed inflation. Just my 2 cents.
I don't think one can ever retire, really. Retiring means not doing anything else but relax. One can't relax all the time though. One has to keep moving or doing something. I would call it owning your own time and making money is more like it. If you own your time while making money than you are straight and having fun. Keeping the money rolling in should be the key no matter what age. Own your time and make that money!
Hi Steve, I'm 56 and have a chance to retire in two years in the sweet zone. I love the calm and quiet where you are with birds chirping everywhere. Its quite a departure from the traffic and congestion of most big cities especially in the PI. My work is stressful, demanding physically and emotionally. I'm getting tired of being stressed out, bored and lonely. Certainly there is more to life than this.
retiring is not a bad idea the word retire is just negative when you hear it but is the best thing you can have it means you are not a beast of burden anymore working like a dog trying no to feel the pain in youre body the pressure the toxic enviroment of youre job youre co worker and now you can do what you want to do exploring many places relaxin in youre own time with no worries about the money you gonna expend because the money you save is a fortune in this country cleansing youre body on toxication of stress for so many years in beautiful beach with a beautiful wife its not bad at all
My goal is to retire after my youngest gets to college in 5 yrs, so 57 it will be, I can’t imagine working past that just to pay $1000 plus with property tax and insurance….no way…I will be an expat living in the Philippines and the USA…
I'm 71 and get about $1,850 a month part of which is annuity. social security, and 20% comp from the Air Force. My condo worth $72,000 and car worth $12,000 are both paid for so no rent or mortgage to pay. Plan on going to Manila to see my girlfriend and check things out and decide if it's worth selling everything and moving there to be with her permanent. One thing I'm very worried about is medical care, Being a vet it's free here in South Carolina but not sure what I would need in the Philippines. I know you did a vlog on medical care but something serious happens and I might not be able to make it back to the USA to get care.
Luckily for guys between 27-45, we an opportunity to save up and work towards the goal of having enough to retire on. We just need to make the sacrifices. But most importantly, I personally would *never relocate overseas until my retirement income kicked in* . I prefer to use my savings as an emergency stash.
Naproxen will work better than acetaminophen. Naproxen is anti-inflammatory while acetaminophen is not. Naproxen also does not harsh the liver like acetaminophen does
I can retire at 60 with full medical bridge to 65 for both me and wife and she's 5 years younger but the plan is going to 62 to collect everything together. I'm 4 months away from 60. I have VA too. I would consider Guam over P.I myself. I can always hit the Philippines with my retire airline flight benefits for life in which I passed that milestone a few years ago. San Antonio Texas with like 5 military bases and the VA, no state tax, cheap cost of living sounds enticing for possible retirement option. I'm checking it out tomorrow to see how a px run looks like as a service connected VHIC holder. Taking a few days around there maybe hit New Brunfels. Did you calculate what your social security will look like at 65? I can't imagine retiring at 55 that you will get much at all. I've been working and with my salary I get the max allowed in social security benefits. Social security is...well, you just said it what yours will look like. 1k-1200k. I see. At 62, not even at full retirement age which is 65, I calculate to draw 2k. Social security alone. They calculate your best 5 years out of the last ten. Which causes many to work overtime but I'm not chasing that money like that. If I wait to 65 it looks something like 2400, and at 67, 70, you get the picture. Add same for pension and 401k at min 2k per month each. Minimum. That is if all goes according to plan. Always a big IF.
Steve, enjoying your videos! I have a similar issue ongoing with my neck and back and the VA clinic thinks I may need surgery and are looking to set me up with the Neuro Surgery unit here in San Antonio, TX. My concern is if they elect to move forward with the surgery it could impact our move to the Philippines in June. I would like to uderstand better your experience in working with the VA in the Philippines and your experience with the procedure you had there. I do not want to delay our move if at all possible. Any insight you may have is greatly appreciated!
Please be very careful with those pain killers! I know you have a good head on your shoulders but please be careful. Tramadol scared me when my finger got damaged. I got depressed when I quit! Scary!
I watched you for a while I live in pampanga and I was wondering if you might get up this way or would you like to do a collaboration sometime let me know
