As we all age, retirement issues gravitate to the top of the list. When will we retire? Can we afford to retire, and where will we retire to? Will we get bored in retirement? All of these questions and more are being asked everyday, especially as the baby boom generation are in the midst of retiring. So where is a good, economical place to retire?
Most people will stay right here in the United States, or in the country that they grew up in. But for the people that wonder if they will be able to afford retirement, as crippling IRA accounts due to the economy have devastated retirement plans, is the United States the best place to retire? For some people who are used to a certain lifestyle, the answer is no. They will need to assess where their dollars can be stretched to the fullest, and that place increasingly is the Philippines.
Why the Philippines? First, English is commonly spoken and the Philippine people are extremely friendly to Americans. The Philippines have been a strong ally of America for quite some time, and the people will give you the shirt off their backs! They really are lovely, and loyal to boot! So naturally many people looking for a friendly, happy place to retire to are looking towards the Philippines as a retirement destination.
The Philippines is comprised of 7100 islands and is located along the southeast rim of Asia. So for people who love the ocean, this is a great place to live! It also has a tropical climate, so say goodbye to snow. It is not that difficult to find a place to live on or near the ocean, and this is a big draw for all the beach and ocean lovers. The country is affected by tropical cyclones, so like anything else, there are some negatives. But bad weather affects people that retire in Florida, a huge retirement destination, so nothing is perfect.
You can experience a high standard of living for a very low cost. What can one expect with this high standard of living? How about a live-in maid for under ten dollars per day, a cook if so desired, even a driver! Many people have told me that just with their social security benefits they have been able to live quite nicely for under twelve hundred dollars per month! Try getting all of those benefits in the United States! This makes one feel like they are living as a millionaire. In fact, many people live quite nicely on less than six hundred dollars per month! This is almost unheard of today. Is it any wonder why the Philippines are so attractive?
My wife and I have seriously thought about looking at the Philippines as a retirement destination. What’s important is that we look at all of those factors that we have come to rely upon, such as health care, a low crime rate, and an English speaking population. The Philippines seems to have it all, and there are many, many expats living in the Philippines right now that couldn’t be happier!
So before the big decision about where to retire is made, check out the Philippines. As long as moving to another country is not a stumbling block, the Philippines is tough to beat, and a destination that deserves to be included in your retirement plans!