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Am I a millionaire in the Philippines? How to have business?

Discuss culture, living, traveling, relocating, dating or anything related to the Asian countries - China, The Philippines, Thailand, etc.

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Am I a millionaire in the Philippines? How to have business?

Postby crazyaboutabroad » Sun Jan 09, 2011 7:28 pm

People, since i found this website my life had a new meaning. My goal is to explore the world and settle in PH where i can be loved, have fun and stop this damn rat race where women treat like crap, no families, just feminism and the 8h - 8 h grind (my job sucks my life dry).

I was reading the following website:

http://philippines-millionaire.com/
http://philfaqs.com/
http://www.livinginthephilippines.com/

50k US dollar means you have 2.210.000 ph pesos. Means you are a millionaire there. (conversion is 44)

My question is, is this a value where you can retire in PH with a life WITH LUXURIES? (car, trips around the country, sex, adventure, nice house and commodities)

And is it possible start up a business where it can cover some of your expenses (like half) and the rest is the interest you collect from you investiments abroad? Or even covering everything?

How much to live like a king in PH per month? 40k pesos? 50k pesos? 30k pesos?

Or a more frugal style of living (smaller house, no car), how much

This is an important question and please be accurate so i can make a goal to how much i need to go financially secured to PH.

How much a person need to retire and make a nice bussiness and live life to the fullest without worries?


This question is not for PH only, Thailand too (50k dollars = 897.000 bath) or cambodia (202.000.000!!!). Even Czech (949.000) and Latvia (605.000) are some targets but women there are not that fun and the climate sucks.

I hope you can help me! I definitely want to go abroad. The soon i have a financial goal the better since the dollar is becoming junk (years ago PH pesos were 60 conversion not 44..)
Searching my new place where i'll be millionaire and loved.
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Postby crazyaboutabroad » Sun Jan 09, 2011 7:31 pm

One more thing, any person who has like 22.000 is a millionaire in PH and mega millionaire in cambodia.
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Postby Winston » Sun Jan 09, 2011 9:03 pm

It all depends on your location and standards. You can live decently on $400 a month or $1000 a month. Some expats live on $200 a month or less, in rural areas and villages.

A lot of PH questions are answered on other threads. Do a search for them using advanced search.

If you're going to the PH, I'd recommend you listen to Larry Elterman's interview and get his book, both of which are available here:

http://www.happierabroad.com/podcasts.php
Check out the latest posts in our blog The Happier Abroaders.

Don't forget my HA Grand Ebook and Dating Sites!

"It takes far less effort to find and move to the society that has what you want than it does to try to reconstruct an existing society to match your standards." - Harry Browne, How I Found Freedom in an Unfree World
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Re: Am i a millionaire at Philippines? How to have business?

Postby Rock » Sun Jan 09, 2011 9:46 pm

crazyaboutabroad wrote:People, since i found this website my life had a new meaning. My goal is to explore the world and settle in PH where i can be loved, have fun and stop this damn rat race where women treat like crap, no families, just feminism and the 8h - 8 h grind (my job sucks my life dry).

I was reading the following website:

http://philippines-millionaire.com/
http://philfaqs.com/
http://www.livinginthephilippines.com/

50k US dollar means you have 2.210.000 ph pesos. Means you are a millionaire there. (conversion is 44)

My question is, is this a value where you can retire in PH with a life WITH LUXURIES? (car, trips around the country, sex, adventure, nice house and commodities)

And is it possible start up a business where it can cover some of your expenses (like half) and the rest is the interest you collect from you investiments abroad? Or even covering everything?

How much to live like a king in PH per month? 40k pesos? 50k pesos? 30k pesos?

Or a more frugal style of living (smaller house, no car), how much

This is an important question and please be accurate so i can make a goal to how much i need to go financially secured to PH.

How much a person need to retire and make a nice bussiness and live life to the fullest without worries?


This question is not for PH only, Thailand too (50k dollars = 897.000 bath) or cambodia (202.000.000!!!). Even Czech (949.000) and Latvia (605.000) are some targets but women there are not that fun and the climate sucks.

I hope you can help me! I definitely want to go abroad. The soon i have a financial goal the better since the dollar is becoming junk (years ago PH pesos were 60 conversion not 44..)


Well, with US$50K net worth, you would be worth around:

50 million Won in South Korea and over 5 million Yen in Japan. So you would be a local currency millionaire in both of those countries too. So what does that really mean? Well, that money alone, on a frugal lifestyle, might last you 3-4 years in Seoul and 1.5 - 3 years in Tokyo. Being a local currency millionaire does not much for many currencies. For extreme cases, consider Zimbabwe or Italy back on the Lira.

A country's cost of living and its currency exchange rate are two separate issues. Just because a US$ buys 83 Japanese Yen now does not mean the dollar is strong and the Yen is weak. In fact, the Yen has strengthened a lot in the last 18 months against the US$ so the Yen has been the stronger currency (on appreciation trend against US$).

If you really wanna be rich, go to Indonesia where you would be worth 450 million Rupiahs. Wow, that almost half a billion!
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Postby globetrotter » Sun Jan 09, 2011 10:00 pm

$50,000 would last 4 years in T4 China.

I am of the opinion that no one would really retire, especially when young.

I think that most guys would get bored in a year and find something else to do, something that makes money.
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Re: Am i a millionaire at Philippines? How to have business?

Postby ladislav » Mon Jan 10, 2011 2:21 am


My question is, is this a value where you can retire in PH with a life WITH LUXURIES? (car, trips around the country, sex, adventure, nice house and commodities)


Yes, it is just that you will go thru it faster than you can say Jack Daniels. I arrived with close to 100K and blew a lot in some 3 years, now I am down to less than one third. But I did live it up! Now I am recharging again.

And is it possible start up a business where it can cover some of your expenses (like half) and the rest is the interest you collect from you investiments abroad? Or even covering everything?


It is possible but it is a mine field. If you really wanted to start one, either do it with a family member as in "wife" or a " live-in girlfriend" who has some education ( not a prostitute) or go through the Philippine Investment Board- they have projects ready. But most are like 75,000 dollars and up. But the best is to have some online business. I have been teaching English online and it frees you from so many troubles!
How much to live like a king in PH per month? 40k pesos? 50k pesos? 30k pesos?


No, like a king you need about $100 a day, which is 4000 pesos a day. We are talking about a king, right? 40-50K is middle class. You can say oh well, Filipinos make 15K a month or 8K a month and they live OK, yeah but they pull in with a huge family and all together will have some 100K a month which is a good lifestyle. I do not think you have a big family that can help you. A middle class Filipino making 20K has a wife and a relative overseas that sends some and friends that help out. They help each other. Americans are lone eagles who help themselves.
Or a more frugal style of living (smaller house, no car), how much


Oh that can be done on 30K.

This is an important question and please be accurate so i can make a goal to how much i need to go financially secured to PH.


It is mostly about monthly income, not what you have in the bank.

How much a person need to retire and make a nice bussiness and live life to the fullest without worries?


You will need about USD2000 -3000 a month to live life "to the fullest". I mean like "the fullest".

This question is not for PH only, Thailand too (50k dollars = 897.000 bath) or cambodia (202.000.000!!!). Even Czech (949.000) and Latvia (605.000) are some targets but women there are not that fun and the climate sucks.


Those countries are yech!

I hope you can help me! I definitely want to go abroad. The soon i have a financial goal the better since the dollar is becoming junk (years ago PH pesos were 60 conversion not 44..)


My recommendation is that you be modest and frugal because in uncharted territories it is easy to spend a lot on unpredictable things and mistakes. You need to allow for a wide error margin. Try and get some business going online. Or with a wife/gf try and get something going that is small. For some $5000 dollars or so. A corner store. Proceed with caution while there.
Last edited by ladislav on Mon Jan 10, 2011 2:30 am, edited 1 time in total.
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Postby The_Adventurer » Mon Jan 10, 2011 2:28 am

globetrotter wrote:$50,000 would last 4 years in T4 China.


Really? Do you mean living like a king? I have been to some places where I could see that lasting ten years on an average lifestyle.

globetrotter wrote:I am of the opinion that no one would really retire, especially when young.

I think that most guys would get bored in a year and find something else to do, something that makes money.


I agree. I would never be looking to retire. I would be looking to freedom to create comics, animation, or whatever I want without having to worry about keeping the lights on a for a few years.
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Postby crazyaboutabroad » Mon Jan 10, 2011 3:19 am

Well so it's not so easy to make some small business there? A store, a restaurant in a mall, some service company?

You are right, the important thing is monthly income. So if i want to have girls everyday, surfing, drinking, some nice home with ac, nice food and a car, how much a month is good? 2000k dollars, 3000k, 4000k? Nice to know that we have to go with a steady income. My initial view is business to keep me good and ok at PH leaving my financial dollars reserve generating interest.

Other option is while i am away from PH (i have 3 year to 8 year plan to go abroad i'm fairly young) is to make web based business and keep having cash flow so one day they are sufficient to go with nice monthly income plus de savings.



Let me ask you something, how about Cambodia? 50.000K US dollars are 202.000.000!! And it's cheap as far as i know. Maybe with 1.000k monthly you live like a king?
Anybody knows how are business there, and the women how are they?

Well i think if PH is that way, Thailand is more expensive and hard but have more options and the girls are better in bed and more beautiful.

So many things to think and plan, you guys are helping a lot, please let me know everything! Thanks!
Searching my new place where i'll be millionaire and loved.
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Not so fast!

Postby Asia Outback » Mon Jan 10, 2011 3:37 am

Have you not heard how to make a small fortune in the Philippines?
It's easy! Start out with a large one!

If you are to make any ventures successful in the Philippines, you had better be sharper than what would be required for the same effort at your home zone- a lot sharper. The poster obviously has little knowledge of the world outside the USA, and the best advice you can give would be to make no plans at all related to the Philippines or any other locale- just travel and educate yourself.

After about 10 years of assorted efforts, I finally figured out how to make some money living in the Philippines, but even there, it is
still catering to "foreigners" and businesses outside the RP.

Until you have FAR MORE experience in the RP and the world in general, the best advice you can receive is to not expect to make any money in the Philippines at all- just have your money pipeline established back to what you know. To advise otherwise is doing you a disservice. I have seen MILLIONS of dollars lost in the Philippines by naive foreigners. In the Philippines, play it safe, keep your dick and your money in your pants till you know what in the hell is going on.

Good luck!

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Re: Am i a millionaire at Philippines? How to have business?

Postby Rock » Mon Jan 10, 2011 5:37 am

ladislav wrote:
And is it possible start up a business where it can cover some of your expenses (like half) and the rest is the interest you collect from you investiments abroad? Or even covering everything?


It is possible but it is a mine field. If you really wanted to start one, either do it with a family member as in "wife" or a " live-in girlfriend" who has some education


Formula for disaster - straight from the SE Asian playbook on how to separate the foolish westerner from his money.

If you're not extremely smart in a business savvy way and don't have many years (decades would be better) of experience working and dealing with locals in your target country, don't even think about investing your hard earned capital in a business or property over which your wife/girlfriend would have even partial control/ownership.
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Word to the Wise

Postby Asia Outback » Mon Jan 10, 2011 6:01 am

>>> "Formula for disaster - straight from the SE Asian playbook on how to separate the foolish westerner from his money.

If you're not extremely smart in a business savvy way and don't have many years (decades would be better) of experience working and dealing with locals in your target country, don't even think about investing your hard earned capital in a business or property over which your wife/girlfriend would have even partial control/ownership."

This is EXACTLY so! Yet time and time again, I see foreigners set themselves up to get hosed against the advice of expats who have lived there for years. A fool and their money will soon be parted.

If you can work online at something that has NOTHING to do with the locals, you will stand a chance. Otherwise the odds are 100% that you will get hosed. I have not seen one exception in more than 10 years in the southern Philippines. Rock has given you the EXACT scoop...listen or loose!

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Postby Rock » Mon Jan 10, 2011 6:02 am

globetrotter wrote:$50,000 would last 4 years in T4 China.



This coming from the guy who claimed he could live comfortably in his T4 village for US$150 per month. Let's see, 50,000 / (150 * 12) = 27.8 years. Not very consistent for someone who is so well grounded in math and science, lol.

Even if we threw in 10% per annum inflation and 5% per RMB appreciation (total 15%), this money would last you about 12 years without accounting for any interest or investment returns on your capital. Presumably, you could at least invest it in a RMB bank or investment account to avoid currency appreciation component (5% per annum) and offset a portion of inflation (say 3-6%). Then you could stretch it for a much longer period.

150 * 12 = 1,800 per annum

Year 1: US$1,800
Year 2: 2,070 (cumulative 4,451)
Year 3: 2,381 (6,832)
Year 4: 2,738 (9,570)
Year 5: 3,148 (12,718)
Year 6: 3,620 (16,338)
Year 7: 4,164 (20,502)
Year 8: 4,788 (25,290)
Year 9: 5,506 (30,796)
Year 10: 6,332 (37,128)
Year 11: 7,282 (44,410)
Year 12: 8,374 (52,784)
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Re: Am i a millionaire at Philippines? How to have business?

Postby Jackal » Mon Jan 10, 2011 6:21 am

crazyaboutabroad wrote:50k US dollar means you have 2.210.000 ph pesos. Means you are a millionaire there. (conversion is 44)

I don't know the details about the costs of living in the Philippines, but you should be careful with that type of thinking.

It's wrong to think that because 50 thousand USD equals 2 million of a currency that it will necessarily make you feel like a millionaire in that country. Again I don't know about the Philippines specifically, but you have to always take into consideration the actual buying power of the currency you're dealing with (see what an average meal costs in a resaurant, etc.).

For example, the conversation rate for Hungarian Forints is usually about 200 HUF to 1 USD. However, you should not think that 200 HUF in Hungary will feel like 200 USD in the US: 200 HUF will only buy you a 1.5 liter bottle of water or two trips to a public restroom. There are no 'cents' in Hungary: the Forint itself is like cents. So one could think of 100 HUF as sort of being "the Hungarian dollar."

1 USD also equals about 10,400 Iranian Rials, but I similarly doubt that 10,000 IRR is big money in Iran because dinner in Iran can cost 100,000 IRR!

So the lesson is not to abandon your critical thinking just because you see lots of zeros...
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Re: Am i a millionaire at Philippines? How to have business?

Postby momopi » Mon Jan 10, 2011 9:04 am

crazyaboutabroad wrote:50k US dollar means you have 2.210.000 ph pesos. Means you are a millionaire there. (conversion is 44)
My question is, is this a value where you can retire in PH with a life WITH LUXURIES? (car, trips around the country, sex, adventure, nice house and commodities)
And is it possible start up a business where it can cover some of your expenses (like half) and the rest is the interest you collect from you investments abroad? Or even covering everything?
How much to live like a king in PH per month? 40k pesos? 50k pesos? 30k pesos?
Or a more frugal style of living (smaller house, no car), how much
This is an important question and please be accurate so i can make a goal to how much i need to go financially secured to PH.
How much a person need to retire and make a nice bussiness and live life to the fullest without worries?


The short answer is, $50k USD will not last if you want to "live like a king".
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Postby Winston » Mon Jan 10, 2011 1:47 pm

I heard that Thai girls are better or sex while Filipinas are better for love.

I don't agree with Ladislav's figures. You can live ok on $400 a month as long as you don't let others take advantage of you or get ripped off or try to play a Santa Claus role.

Or you can live like a king on $1000 a month and have more luxuries, but it all depends on many things.

I would not want to start a small business there, unless you have Chinese connections. Too many westerners have been burned trying to do that. I know one of them too. His girlfriend seemed so innocent and sincere too, I can't believe that she and her family tried to rip him off.

One thing to keep in mind is that Filipinos DO NOT HAVE SHAME at all. Period. Not the kind that Anglos and Orientals have. They love to take and feel zero guilt in it. That is something you will learn very fast. So you gotta be on your guard all the time.

I still suggest you should get Larry Elterman's book:

http://www.happierabroad.com/ebooks.php ... pinesguide

Also see his thread in the forum in the Asia section.
Check out the latest posts in our blog The Happier Abroaders.

Don't forget my HA Grand Ebook and Dating Sites!

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