| A lot of Americans contemplate on retiring overseas | | | | condominium, studio apartment, or a detached house. |
| for various reasons - better climate, new adventures, | | | | If you choose to live in Manila, expect to pay more. |
| or a lower cost of living. The Philippines is slowly rising | | | | Although there is a great range of housing costs in |
| as a retirement country of choice because of its | | | | the city, in general it ranges from $500 to $1500 per |
| tropical climate, beautiful beaches, and of course, the | | | | month. It costs a little more than $1500 if you |
| low cost of living. | | | | choose to live in upscale areas such as Makati or |
| Planning for a budget for retiring in the Philippines | | | | Ortigas area. |
| actually depends on you. What kind of lifestyle do | | | | If you chose to live in cities located in provinces like |
| you actually want? | | | | Cebu City in the Visayas or Davao City in Mindanao, |
| The Philippines is made up of more than 7,000 islands, | | | | housing would cost from $300 to $900 a month. In |
| and you can expect that the country has a diverse | | | | the more rural cities like Tacloban, Dumaguete, |
| culture and lifestyle. Do you prefer the big city living | | | | Cagayan de Oro, or Butuan, you would pay around |
| and reside in Manila, where you have instant access | | | | $200 to $700. |
| to large shopping malls, nightlife, commercial | | | | For the utility and other household expenses like |
| establishments and offices, and heavy traffic jams? | | | | electricity, telephone, internet, cable TV, medical and |
| Or would you rather live in a quieter and mid-sized | | | | dental expenses, groceries, dining out and |
| urban city like Cebu or Davao? Do you want a more | | | | entertainment, and other miscellaneous expenses are |
| rural lifestyle, such as in Subic, Dumaguete, or | | | | pretty much the same in all the areas in the |
| Bacolod? Or would you like to live in a tropical | | | | Philippines. Public transportation and taxis are readily |
| paradise such as Boracay and Palawan, which has the | | | | available and inexpensive, and there is actually no |
| best beaches in the world? | | | | need to purchase your own vehicle. But if you opt to |
| Regardless of the location that you choose, living in | | | | have your own car and driver, it would cost you |
| the Philippines will cost you about a quarter of what it | | | | around $60 to $100 a month for fuel, repairs, and the |
| would cost you for the same lifestyle in the U.S. or in | | | | driver. |
| Europe. A modest budget of $1,000 to $2,000 a | | | | The best thing about retiring in the Philippines is that |
| month can already go a long way. Just find an area | | | | you can adjust your lifestyle to your pension or |
| that fits your budget and you can retire twice as | | | | budget. A lot of happy expat retirees in the country |
| wealthy and a lot happier, enjoy a warm, tropical | | | | are living on an income of $800 to $1,000 per month. |
| weather all year round, have a house helper and a | | | | Because of the low cost of living, some chose to |
| driver, and live healthier with less stress. You can | | | | open their own business and are living opulent lives |
| even travel, have your own business, and be | | | | on a $2,000 to $2,500 income range. |
| financially free. | | | | If you are planning to retire in the Philippines, set your |
| As in most places, the biggest expense that you will | | | | budget depending on the lifestyle that you want as |
| have in the Philippines is housing, and it depends on | | | | well as your everyday needs, and do your own |
| which location and type of dwelling you choose to | | | | research to prepare you in the big move that you |
| live. You can opt for a townhouse, high rise | | | | are about to make. |