Expat Community > Philippines

Rdowns
Joined 2017
Posts: 24

Retire on $200,000?

6 years ago

Hello everyone. 1st the details. then the questions.
I live in the US now and I'm seriously considering retiring to the Philippines within the next two years. (As soon as my 17 yr old finishes high school in early 2019).
If I sell my house, vehicles, and other items that I wont bring over with me I should have around 250,000 to 300,000 to retire on. That doesn't include the 33,000 I have in a 401K right now, (last month my divorce finalized and she got all my retirement except that 33k).
I don't care for city life, nightclubs, etc. I don't drink or smoke. I prefer adventuring on foot, boat, or motorcycle (road and dirt). I don't like apartment style living. Id like my house to be by itself. Possibly rural.
I...THINK... Ive narrowed it down to Baguio area for the climate and slightly cheaper cost of living than Tagaytay. The current plan is to rent for at least several months while explore Luzon to be sure I know for sure where I want to settle down permanently.
I plan to start a business or three once I get settled and decide what kind of business/s I think id like to run.
I plan on getting a SRRVisa and its possible I may get married in that time also. I will then build a house and hopefully have around 200,000 left after building the house. Oh, I'm 53 years old.

Question #1- is 200,000 a feasible amount to retire on? I'm thinking 800.00 a month will last me almost 21 years. but i'll want to do other traveling so being Semi-retired seems the way to go.
Question #2 - SRRV Classic seems to be the Visa best suited to me. I wont have a pension. Is there a better option?
Question #3- Is there a way to own property personally other than through naturalization?
Thanks in advance for any advice to my long winded post.

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