smallcheese wrote:I listened to this interview and I really like Larry. He came across as calm and unemotional. And I think the information and insight that Larry provides is invaluable if you're seriously considering a move to the Philippines. Steve, on the other hand, comes across as someone who is emotional, bitter and angry. It's obvious that he's been burned by women before. I know exactly how Steve feels but the only way to get rid of your anger is to let go and not worry about it anymore. Think positive, not negative! Negative thoughts can only depress you and make you miserable. Steve, my advice to you is that you should go to the Philippines as soon as possible!!! If you want to talk economics, even if you haven't saved up much money, I think you could do very well in the Philippines. You have skills that are extremely valuable in the Philippines. The ability to teach people how to making a living at a trade? That's priceless! In the U.S., that's becoming a lost art as the country moves mistakenly towards a more services oriented economy.
And once you get to the Philippines and settle down, you will see how simple a life most Filipinos live. And you'll appreciate their focus on family. I'm not saying that life will be a bed of roses though. There are still lots and lots of problems and local things (like politics and corruption) that will annoy the crap out of you but if you take a step back and look at things objectively, for many men the positives outweigh the negatives.
I agree that initially the main reason for Filipinas wanting to be with a foreigner is to have a better life economically. But don't underestimate their cultural bias on the family. Most Filipinas I know put the highest priority on family and they are looking for love too. So as Larry and Steve said in the interview, it's a win/win situation.
Since this 2nd interview was focused on economics, there were areas that weren't touched upon. The information probably exists elsewhere but it would have been nice to hear Larry's take on things since he's lived there for awhile. The takeaway I heard was $1000 USD a month should cover everything but I guess I was interested in more details. For example, what does it take to open a bank account there? Do you really need an alien registration card to open an account or can you do it with just your country's passport and driver's license?
What about health care costs? Medical, dental, vision. Is there insurance you can buy? What does it get you? What if you have major operations? How much does it cost? What's the cost of medications that you might need, e.g. for high blood pressure, diabetes?
What about communication costs? Cell phone? Internet access? What areas have the best broadband connections (if any)?
Does anyone have any real experience with the retirement visa program?
What if you choose to live in the provinces? How much does a car cost? Gas, registration, licensing, maintenance, insurance?
What if you want to buy property instead of renting? Foreigners can't own real estate (except certain condos) but there is something relatively new where it can be legally documented that a property cannot be sold, modified or whatever without the consent of the foreigner (who is putting up the money for the property).
Thoughts, advice, comments?
Bank accounts can be opened without an ACR (through credit cards are more difficult), pasport will do, sometimes thats not even necessary. HSBC is one of the better global banks (citibank is also there). BDO is one of the best local banks.
No dental or vision coverage that I know of but dental work isn't expensive. A checkup at an upper end dentist will cost around $30.00. Can get fillings etc. for $30.
You can get local healthcare at ~$50 per month last time I checked. Most healthcare options don't cover pre-existing conditions for the first year of coverage but offer reasonable coverage. St Lukes Medical center, and Fort Med in Makati are both very good. Doctors visit may cost around $10-$20 even for a specialist. X-rays ~$30. MRI ~$200.00. Surgery is generally a fraction of US cost. Simple procedures ~100-300, with more complex procedures in the $2000-$4000.00 range.
Internet access ~$25.00 per month PLDT or Globe DSL. Smart or Globe are best bets for cell phone as well. Incoming calls are free (no air time). SMS messages are very cheap ~1-2cents per message. Most people SMS. Most go with pre-paid plans where you top up load as you go.
$1000.00 per month will barely cut it in Makati but can go a long way in the provinces. A nice studio in Makati would range ~$300.00 - $800.00 per month. Most landlords want 6 months to 1 year advance rent plus deposit.
Used cars are your best bet with a very robust used car market (check buy and sell for local classifieds). Can get a decent used car for approximately 3-4K USD. Toyota, nissan, mitsubishi, or honda are best bets (in that order) for cars as there are the most common in PH with the most spare parts available. Registration isn't very expensive (I forget the figures) gas is not much more or less expensive than anywhere else. You can get a driver for ~200.00 per month and a maid for ~$70-150/month (full time live-in).
You can buy some condo's as a foreigner, you can buy land or property if you are married to a local (in their name), or through a corporation ie.. 60-40 (Filipino-foreigner ownership). Typical trick is to have the 60% filipino owners assign their stock rights to the foreign ownership effectively giving up control.