# Planning the move.. being realistic?



## 562isme (Feb 15, 2018)

Hello, I am a 31 year old. My wife and I are planning to move to the Philippines in the next 3 years. (She is from the Philippines but lives with me in USA). We are very simple. Food, electric, water and we are happy. 

We own a house in Cavite Laguna and are building a small grocery store. Currently we have $130,000 saved. 

We think we can live off of P18,500 per month. Which is 30 years plus the store will build income aswell. We are thinking the store will make in a range of P10,000-20,000 per month.

Is the provided information being realistic?

The one thing I am not sure of is health insurance. Philhealth?

Thanks!


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## Zep (Jun 8, 2017)

As far as your budget goes it is possible to live off of about 20,000p/month or even less as most of the population does so. If you can eat like the locals then it is possible. 

For me, I am not able to swallow all the local food types so I eat more like an american. This costs a lot more than you would think here. My grocery budget at the SM Hypermarket is probably 15k/mo for a family of 4 and that does not include another 5-10k spent at local markets for additional food. Even with that I still have meals that are made up of just vegetables some times.

I lost 15lbs (165 to 150lbs) when I first moved here and it has stabilized but I will never be able to eat like I did in the US to gain any weight back.

Meat (not intestines) cost as much here in the PI as they do in the USA, even more when you consider you can always find a sale going on in the US but nothing is ever on sale here.

As far as the Sari Sari store goes that income sounds a bit much but I do not have a store of my own so not sure. I can tell you that as soon as you open a store there will be 5 other families next to you opening a similar store. They do it all the time in my barangay. Then they all go out of business.:der:

So have he wife cook you some local authentic cuisine and give it a try if you have not done so yet.


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## 562isme (Feb 15, 2018)

Thanks zep! yes, I've stayed in the Philippines a few times and only ate Filipino food. Fried Fish, veggies, soup and chicken adobo are my favorite. 

Our store would be like a 7 eleven but with some extra stuff like propane for cooking... How long have you been in the Philippines?


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## Hey_Joe (Sep 13, 2016)

562isme said:


> Currently we have $130,000 saved.
> 
> We think we can live off of P18,500 per month. Which is 30 years plus the store will build income as well. We are thinking the store will make in a range of P10,000-20,000 per month.
> 
> Is the provided information being realistic?


You failed to mention that you factored in the high annual inflation rate here during that 30 year period.

https://tradingeconomics.com/philippines/inflation-cpi

Peso fluctuation rate to your $130K ?????

Do you have your 40 Social Security Credits so you are eligible for SS later in life?


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## Tiz (Jan 23, 2016)

You are only 31 years old, so you could probably live another 60 years.
I don't think $130,000 savings is enough and I doubt that php18,500 will be enough.


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## Simon1983 (Jun 6, 2016)

18,500 seems low. You might be able to live on that budget in some months but not if you have any additional expenses (e.g. travel, christmas and other celebrations, medical bills).

Also for your house you will need a fridge, furniture, other appliances, and I guess the store will need a few fridges as well as all the other fittings.

Managing a store will take up a lot of time and you'll be lucky to break even imo. Most of the stores can make money to cover the day to running costs but less are able to pay off the capital expenditure - so you need to keep extra money to replace the fridges in 5 years etc etc.

Seems you are thinking about the move as I think you posted on here a while ago with plans to farm. My advice is same as before - dont invest any money here until you have lived here a year or two. But seems you have already sunk money into a house and business.

Also, you may be able to survive on 18500 but if you are planning to have kids then you will need to pay hospital bills for the birth, then milk and diapers for the next few years, the school fees, and then hope the kid gets a job so you are not supporting grandkids!!

Good luck!


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## 562isme (Feb 15, 2018)

Thanks for the info guys. This is my first thread.

The other thing I could do is invest the 130k in the US and make $720 monthly. 

How do I find out how many credits I have for SSI? I read 4 points a year.

What do you guys recommend? staying in the US.Only visiting the Philippines every 2 years.

It's hard to give up what you really want and would like to live but if no choice...


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## Hey_Joe (Sep 13, 2016)

562isme said:


> Thanks for the info guys. This is my first thread.
> 
> The other thing I could do is invest the 130k in the US and make $720 monthly.
> 
> ...


You can find your number of credits immediately, here

https://www.ssa.gov/myaccount/

There is a very wise OFW who lives near me. He is buying land and constructing apartments. All are filled. Remember, the area above land is free so he builds high. A few more years he will quit his OFW job and use the apartments as revenue.

Perhaps you could consider the same instead of being a slave to a store for the rest of your life.


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## Simon1983 (Jun 6, 2016)

Hey_Joe said:


> You can find your number of credits immediately, here
> 
> https://www.ssa.gov/myaccount/
> 
> ...


Your friend is wise but he is also a Filipino, so he can own land. As a foreigner, it's not possible.

I have an expat friend who has done similar thing (student apartments) but he has been married many years to his Filipina wife, they have grown up children and are both retired/settled here.

If you invest in land or anything here, you would be very unlikely to ever be able to get that money out of the country again. And if things don't work out with your Filipina partner, you wouldn't have any legal recourse.

Personally I'd invest in the US and spend the money at leisure. Perhaps look at other Asian countries where you can live/work where your partner would find it easier to get a Visa.


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## JRB__NW (Apr 8, 2015)

562isme said:


> Thanks for the info guys. This is my first thread.
> 
> The other thing I could do is invest the 130k in the US and make $720 monthly.
> 
> ...


I commend you for saving so much at a young age. You have more than many close to retirement. 

You could live in PI but I don't think 20k is feasible. 30-40k minimum, imo. Like others mentioned, the store won't make much. Every Filipino dreams to have one but they eat the already slim profits. Competition on every corner, people can't pay today, etc..

Much better idea to keep that money invested in the US, earn more on it, and live on that. You cannot withdraw more than 5% per year safely on such a small principal over time That's $6500/yr, 540/mo.. 27K. Better, but still not enough really, especially for emergencies.

You have to have Social Security earnings when you're older, don't even think about going without that safety margin, especially if you're low income to begin with. You need at least 40 quarters (10 years) full time work to get that. 

I would recommend working in the US longer and building up more principal before you move over, if you can. You seem good at it. Try to double that at least.


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## 562isme (Feb 15, 2018)

Hey_Joe said:


> You can find your number
> 
> There is a very wise OFW who lives near me. He is buying land and constructing apartments. All are filled. Remember, the area above land is free so he builds high. A few more years he will quit his OFW job and use the apartments as revenue.
> 
> Perhaps you could consider the same instead of being a slave to a store for the rest of your life.



Awsome! I have 40 credits. Thanks for the url. That sounds like a good idea but i will think about doing it in the US. Thank you!


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## Asian Spirit (Mar 1, 2010)

562isme said:


> Thanks for the info guys. This is my first thread.
> 
> The other thing I could do is invest the 130k in the US and make $720 monthly.
> 
> ...


My turn... I'm married and took a very early retirement. I've lived here 15 years without leaving in that time. So from age, maturity?, and experience I offer this.

Learn more before making this move. Lots more. If it was right with you thought about it and started to plan for it; it will still be right when all the pieces of the puzzle are in place and finances and future are secure.

At your age the best would be to get your fiancee there to the US on a fiancee visa. Live and work there till ready for retirement and then make the move. That will benefit both you and your new wife and her future.

If you do decide to make the move now, the smartest thing to do for your own safety and security, is to put aside enough money that no matter what happens you have a financial way out if it were ever needed. You'd be surprised by the number of homeless/stranded Americans and others wondering around Manila and other places that had the same dreams you do. I've said it before and I'll say it again. This aint Kansas! Something goes wrong. Your fault, her fault, nobody's fault and your goose is cooked-maybe even dead! There are no social safety nets of any kind and The US embassy is not going to supply benefits or food stamps. No matter what happens, you are on your own here. Be safe and make wise choices.


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## M.C.A. (Feb 24, 2013)

562isme, if you deciede to make a go here make sure you get your 13a Visa (unsure if you have this) in the states before you leave, here's a link, click on your state: Embassy of the Philippines - Consulate Finder Map

Here's a complete list of forms that are used in the US but this is from the Chicago Philippine Consulate, I used the Chicago Philippine Consulate, you might be using a different consulate the format is different on the 5 Philippine Consulates so no standardization but I've seen all the forms and they are very similar, this is just a reference for you on the many items required here's the forms from Chicago http://www.chicagopcg.com/forms/immigrant visa form.pdf


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## M.C.A. (Feb 24, 2013)

You sound serious so unsure if you have the 13a Visa (Non-quota through marriage) if not get this through the Philippine Consualate that works with your state: Embassy of the Philippines - Consulate Finder Map

Here's an example of the forms I used from the Chicago Philippine Consulate but always use the forms provided from the Philippine Consulate that works with your state. 
http://www.chicagopcg.com/forms/immigrant visa form.pdf

Posted twice, something happened to the first posting and I did it all over again but one of these posts can be deleted.


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## esv1226 (Mar 13, 2014)

you are young. that doesn't mean you'll move to retire. there'll be many opportunities. but a sari-sari store isn't one of them. when you are in country, observe and study further. 
you can work on your immigration papers before you go.


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## M.C.A. (Feb 24, 2013)

I'll bet many of us have tried that Sari-sari store :ballchain: gonna make money extra money and only to find out your costs are transportation, most want credit, family and in-laws eat all the profits and imprisoned in a hot store selling products for such a low profit, don't forget the grocery Vat charges when you figure out how much you sell these items. Think of a business where nobody can eat your profits, this includes rodents and insects and you won't be a prisoner and you'll make it. 

You have a house so maybe adding onto it and renting out rooms or apartments might be a money maker the Philippines is gonna be the most challenging place to make money the people have very little money to spend.

I have a pool table that made some money but the damages to the pool table and sticks, chalk (you have to provide sticks) were depressing and yet still I might fix if there's no issue with gambeling there's been a crack down on gambeling so if it's still in effect I won't rush the fixes, the cost per game is 10 peso's so not a huge money maker and long hot days and tough at times collecting for each game it's always a challenge here if you like never ending challenges this is the spot to live in, good luck always. The internet cafe or game spot business will be another downer.


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## M.C.A. (Feb 24, 2013)

*Business aspirations*

I'll bet many of us have tried that Sari-sari store :ballchain: gonna make money extra money and only to find out your costs are transportation, most want credit, family and in-laws eat all the profits and imprisoned in a hot store selling products for such a low profit, don't forget the grocery Vat charges when you figure out how much you sell these items. Think of a business where nobody can eat your profits, this includes rodents and insects and you won't be a prisoner and you'll make it. 

You have a house so maybe adding onto it and renting out rooms or apartments might be a money maker the Philippines is gonna be the most challenging place to make money the people have very little money to spend.

I have a pool table that made some money but the damages to the pool table and sticks, chalk (you have to provide sticks) were depressing and yet still I might fix if there's no issue with gambeling there's been a crack down on gambeling so if it's still in effect I won't rush the fixes, the cost per game is 10 peso's so not a huge money maker and long hot days and tough at times collecting for each game it's always a challenge here if you like never ending challenges this is the spot to live in, good luck always. The internet cafe or game spot business will be another downer.


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## Hey_Joe (Sep 13, 2016)

Google entrepreneur Philippines.


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## magsasaja (Jan 31, 2014)

562isme said:


> What do you guys recommend? staying in the US.Only visiting the Philippines every 2 years.
> 
> It's hard to give up what you really want and would like to live but if no choice...


I don’t think any of the guys are trying to say give up on your dream. All they are trying to point out is the many pitfalls you may come across if you decide to make the move and live her full time. Personally i would advise you to make the move sooner rather than later, as if things don’t work out you and your wife are still young enough to return to the states and resume your careers. 

We moved here from Hong Kong in 1997 with a lot less than you and i have never regretted the decision. At the time i was 30 and my wife was 32, we also had a couple of young kids. The first few years were very hard financially, as we have no income from abroad , but it became a lot easier with time. 

If run properly by you and your wife it is possible that your sari sari store could make 20k or even more per month, however as pointed out by MCA you will have strict rules from day one concerning family members, friends, customers etc, as they will ask for credit and you will have problems collecting the money. We rented a 20sqm area for 1,500php and ran a sari sari store from 1998 till 2005. It was hard work, but it did provide us with around 25k per month and helped us learn how to run other businesses in the Philippines. Funny thing is we sold it as a going concern in 2005 and the new owner didn’t even last a year!


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## Hey_Joe (Sep 13, 2016)

magsasaja said:


> I don’t think any of the guys are trying to say give up on your dream.


One of my favorite photos from decades ago.


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## Manitoba (Jun 25, 2014)

When and if your finances get to the point where all you have left is enough to buy a one way plane ticket home, use it for that.

There is absolutely no safety net here. If you are out of money you are out of everything. Yes family may help out but they will think a foreigner is loaded and doesn't need it.

Always have an exit strategy and the means to implement it.


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## mogo51 (Jun 11, 2011)

562isme said:


> Thanks for the info guys. This is my first thread.
> 
> The other thing I could do is invest the 130k in the US and make $720 monthly.
> 
> ...


Yes it is hard to not be able to do what you want, but it is more prudent to build your wealth where you are and come later in life. The advice you are receiving here about business and living in Phils is right on the money. Please give this a lot of thought.


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## DonAndAbby (Jan 7, 2013)

562isme said:


> The other thing I could do is invest the 130k in the US and make $720 monthly.


That equates to about 7% annual simple interest. Where can you earn that without a lot of risk?

At your age, that is decent savings. I would continue to save for another 10 years then take another look at moving.


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## mogo51 (Jun 11, 2011)

DonAndAbby said:


> That equates to about 7% annual simple interest. Where can you earn that without a lot of risk?
> 
> At your age, that is decent savings. I would continue to save for another 10 years then take another look at moving.


Please read this excellent advice at least 20 times, it is the best advice you will ever have been given.


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