£
Mar 19th 2020, 6:25 am
#1
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Thread Starter
Joined: Jan 2012
Posts: 466
£
£1 = 58.84php.......ouch ! That’s lowest since we arrived in the Philippines 3 years 4 months ago. Went out cycling today. In 2 hours nether saw a bus or a jeepney. Roads were very quiet and most businesses were closed.
Mar 19th 2020, 7:26 am
#2
Forum Regular
Joined: Apr 2019
Posts: 41
Re: £
It's going to ruin my retirement plans between this, a tory government (they want to make me retire at 75 and not access my private pension until later not the current 55) and brexit (devaluation of the £ compared to other currencies)
Mar 19th 2020, 11:10 am
#3
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Joined: Jun 2014
Location: Philippines
Posts: 1,853
Re: £
How can government stop you accessing your private pension?
Regards
Mar 19th 2020, 11:30 am
#4
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Joined: Jun 2014
Location: Philippines
Posts: 1,853
Re: £
Yes.. Buses and jeepneys are banned. I couldn't get a tricycle to take me to a restaurant I am currently using.... Because they are banned if I understand correctly. Part or maybe all of the market has been closed down. I couldn't find a place to eat so I had to settle for bbq chicken to take home.
The owner of your sub division has now banned all visitors so I am told this evening.
The US state department has advised all US Citizens to leave Metro Manilla and cebu because of civil unrest because of the draconian measures taken by government. Happy days
Regards
Mar 19th 2020, 12:03 pm
#5
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Joined: Feb 2014
Location: Capiz
Posts: 1,646
Re: £
Still remember the days when the £1 was Peso 106.
Luckily just before Xmas I changed about 6 months worth at 70+, but once that is used up her-in-doors is worried her pocket money is going to take a big hit.
Luckily just before Xmas I changed about 6 months worth at 70+, but once that is used up her-in-doors is worried her pocket money is going to take a big hit.
Last edited by Stokkevn; Mar 19th 2020 at 12:06 pm.
Mar 19th 2020, 1:07 pm
#6
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Joined: Apr 2019
Posts: 41
Re: £
They have been talking about raising the income drawdown age to 57 maybe 60 and also raising state pension age to 75
Either or both of which would mean later or no retirement
Mar 19th 2020, 3:35 pm
#8
Joined: Feb 2010
Location: Buraydah , Saudi Arabia
Posts: 2,863
Re: £
Osbourne allowed the ability to access private pensions at 55 in income drawdown provided you didn't draw over 25% of your fund it was tax free this was what I was relying on to see me through to drawing state pension at 67 because I'm currently 48 provided I didn't have any housing costs get a cheap house but when I'm 50+ with the wife in Philippines I reckon can live off 8k a year till pension age
They have been talking about raising the income drawdown age to 57 maybe 60 and also raising state pension age to 75
Either or both of which would mean later or no retirement
They have been talking about raising the income drawdown age to 57 maybe 60 and also raising state pension age to 75
Either or both of which would mean later or no retirement
8k a year is not much at all. Less than £700 a month. It works out to just over £22 a day. I'm sure you can live in the Philippines for that , as millions no doubt do, but do you really want to ?
You're not leaving yourself much fun money there. After bills, health insurance, food, Internet etc , petrol, travel costs etc, how much you going to have left over ? And what about an emergency fund if something happens...
I think you're cutting it very fine, and 8k a year is more like existing than living. Hopefully others on here will tell me I'm wrong.
What's the rush? 🤔️ Why not work a few more years, get a bit more of a nest egg behind you, and then have a better life when you do stop working a few more years down the line.
Mar 19th 2020, 5:01 pm
#9
Forum Regular
Joined: Apr 2019
Posts: 41
Re: £
Others are far more informed than me about cost of living in the Philippines, but I think your numbers are way off.
8k a year is not much at all. Less than £700 a month. It works out to just over £22 a day. I'm sure you can live in the Philippines for that , as millions no doubt do, but do you really want to ?
You're not leaving yourself much fun money there. After bills, health insurance, food, Internet etc , petrol, travel costs etc, how much you going to have left over ? And what about an emergency fund if something happens...
I think you're cutting it very fine, and 8k a year is more like existing than living. Hopefully others on here will tell me I'm wrong.
What's the rush? 🤔️ Why not work a few more years, get a bit more of a nest egg behind you, and then have a better life when you do stop working a few more years down the line.
8k a year is not much at all. Less than £700 a month. It works out to just over £22 a day. I'm sure you can live in the Philippines for that , as millions no doubt do, but do you really want to ?
You're not leaving yourself much fun money there. After bills, health insurance, food, Internet etc , petrol, travel costs etc, how much you going to have left over ? And what about an emergency fund if something happens...
I think you're cutting it very fine, and 8k a year is more like existing than living. Hopefully others on here will tell me I'm wrong.
What's the rush? 🤔️ Why not work a few more years, get a bit more of a nest egg behind you, and then have a better life when you do stop working a few more years down the line.
Mar 19th 2020, 5:43 pm
#10
Joined: Feb 2010
Location: Buraydah , Saudi Arabia
Posts: 2,863
Mar 20th 2020, 5:24 am
#11
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Joined: Jun 2014
Location: Philippines
Posts: 1,853
Re: £
Yes.. Buses and jeepneys are banned. I couldn't get a tricycle to take me to a restaurant I am currently using.... Because they are banned if I understand correctly. Part or maybe all of the market has been closed down. I couldn't find a place to eat so I had to settle for bbq chicken to take home.
The owner of your sub division has now banned all visitors so I am told this evening.
The US state department has advised all US Citizens to leave Metro Manilla and cebu because of possible civil unrest due to the draconian measures taken by government. Happy days
Edit... I wrote this a couple of days ago but it failed to appear here. Maybe I didn't hit the submit reply button or it got lost in cyber space!
Regards
Last edited by Philosophical 11; Mar 20th 2020 at 5:26 am.
Mar 20th 2020, 6:27 am
#12
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Joined: Feb 2014
Location: Capiz
Posts: 1,646
Re: £
Yes. I have been here 5 years and I was getting 73 to gbp. It took a sharp hit to the current levels after the referendum but slowly recovered.
Yes.. Buses and jeepneys are banned. I couldn't get a tricycle to take me to a restaurant I am currently using.... Because they are banned if I understand correctly. Part or maybe all of the market has been closed down. I couldn't find a place to eat so I had to settle for bbq chicken to take home.
The owner of your sub division has now banned all visitors so I am told this evening.
The US state department has advised all US Citizens to leave Metro Manilla and cebu because of possible civil unrest due to the draconian measures taken by government. Happy days
Edit... I wrote this a couple of days ago but it failed to appear here. Maybe I didn't hit the submit reply button or it got lost in cyber space!
Regards
Yes.. Buses and jeepneys are banned. I couldn't get a tricycle to take me to a restaurant I am currently using.... Because they are banned if I understand correctly. Part or maybe all of the market has been closed down. I couldn't find a place to eat so I had to settle for bbq chicken to take home.
The owner of your sub division has now banned all visitors so I am told this evening.
The US state department has advised all US Citizens to leave Metro Manilla and cebu because of possible civil unrest due to the draconian measures taken by government. Happy days
Edit... I wrote this a couple of days ago but it failed to appear here. Maybe I didn't hit the submit reply button or it got lost in cyber space!
Regards
Mar 20th 2020, 7:41 am
#13
Forum Regular
Joined: May 2016
Location: Davao
Posts: 260
Re: £
Others are far more informed than me about cost of living in the Philippines, but I think your numbers are way off.
8k a year is not much at all. Less than £700 a month. It works out to just over £22 a day. I'm sure you can live in the Philippines for that , as millions no doubt do, but do you really want to ?
You're not leaving yourself much fun money there. After bills, health insurance, food, Internet etc , petrol, travel costs etc, how much you going to have left over ? And what about an emergency fund if something happens...
I think you're cutting it very fine, and 8k a year is more like existing than living. Hopefully others on here will tell me I'm wrong.
What's the rush? 🤔️ Why not work a few more years, get a bit more of a nest egg behind you, and then have a better life when you do stop working a few more years down the line.
8k a year is not much at all. Less than £700 a month. It works out to just over £22 a day. I'm sure you can live in the Philippines for that , as millions no doubt do, but do you really want to ?
You're not leaving yourself much fun money there. After bills, health insurance, food, Internet etc , petrol, travel costs etc, how much you going to have left over ? And what about an emergency fund if something happens...
I think you're cutting it very fine, and 8k a year is more like existing than living. Hopefully others on here will tell me I'm wrong.
What's the rush? 🤔️ Why not work a few more years, get a bit more of a nest egg behind you, and then have a better life when you do stop working a few more years down the line.
Mar 20th 2020, 7:55 am
#14
Forum Regular
Joined: Aug 2012
Posts: 105
Re: £
you can of course " go local " but not sure if you would really want to live like that for so long.