More and more people are choosing to retire abroad to enjoy a better climate, new experiences, access to affordable healthcare and a lower cost of living. One destination long popular with expats is the Philippines, a nation that spreads out over more than 7,000 islands. This country is located in Southeast Asia and is near Taiwan, Indonesia and Malaysian Borneo. The author argues that it is possible to live better and make your money stretch further by living abroad. This article examines if it is truly possible to retire in the Philippines with $200,000 in savings. Each year, International Living’s Global Retirement Index ranks retirement destinations around the world, measuring factors such as climate, healthcare, benefits and discounts, and cost of living. For the 2015 Index, the Philippines scored 92 out of 100 for cost of living, placing it in the top 10 for cost of living, and matching Belize, Cambodia, Ecuador, Guatemala and Thailand. Only Nicaragua and Vietnam ranked higher for low cost of living, each earning a perfect score of 100. In the Philippines, the $200,000 would last roughly 21 years. If you add in Social Security, a retiree can cover most of your living expenses. The author recommends that when you do transition to live in the Philippines, you should eat and live like the locals live to begin spending at the “local rate.” As such, it is always recommended that you work with a qualified attorney and/or tax specialist when making plans for retiring abroad. Also the author adds as a foot note that you should really research before retiring to the Philippines because of the increased violence as of 2014.
A two-day rally for Nintendo has lifted the company’s market value by 718 billion yen, or $7.1 billion. The surge began Friday after the debut of a new mobile game app, Pokémon Go, and accelerated Monday with the shares rising by the daily limit of 25 percent in Tokyo. I encourage you to watch the video. It seems as though Pokémon Go will have an interesting effect on Nintendo’s share price but in people’s behavior as well. It’ll be interesting to watch as adults respond to their childhood activity suddenly taking on an adult life. This smartphone app has soared to the top of download charts. It’s a location based app in which users will try to find Pokémon characters overlaid on real life locations. Nintendo’s console sales have slowed, but if Nintendo can capitalize on its franchises then there is still enormous potential for profits and the company’s overall growth. Pokémon Go represents a success for augmented reality games, because it is overlaying digital images over the real world, and opens the possibility for truly mobile gaming. Also, it should be noted that Niantic, Inc. is the company behind the software that integrated the augmented reality into the Pokémon Go, and their first game was Ingress. Niantic may be a company to watch.
Here is a very basic plan for achieving financial independence: get a job, start to save, get raises, save as salary increases, take advantage of dollar-cost averaging (DCA), benefit from a bull market, hit magic number, and retire.
It sounds simple and straightforward on paper, but in reality, earning a high income does not automatically translate into a high net worth. The reason that there isn’t a higher net worth for most people is because there isn’t a discipline to save. Often times, when a person’s income increases, his expenses will increase also. This increase can take the form of a new home, and growing a family. Obviously with more people to take care of, the ability to save becomes more difficult. Another factor is lifestyle. People are more prone to want to enjoy life vs. setting aside money for the future. An additional factor to consider is geography. Depending on where you live, the cost of living can also be a drain on your ability to save. A final factor to consider is the eye of the beholder. What a person perceives as a lot of money may not actually be a lot, because having a better lifestyle means you end up with more to pay for. Sticking to the seemingly simple plan of earning more and saving more requires serious discipline and sacrifice. It means living below your means, regardless of the level of your means, and making savings a priority. In other words, “Keep your lives free from the love of money and be content with what you have…” (Hebrews 13:5 NIV). The most important thing you can do to increase your net worth is to create simple disciplines. Buy assets that produce income. Save before you pay bills or spend money. Set measurable small goals and celebrate the victories. Remember, it’s not about how much you make, it’s about how much you keep. If you want to learn a trick to help you accelerate your savings, then feel free to click on the contact me section link below.
If you need agreement in prayer, or if you’re in need of a financial checkup you can reach me in the contact me section.
“But those who want the best for me, Let them have the last word—a glad shout!— and say, over and over and over, ” GOD is great—everything works together for good for his servant.” I’ll tell the world how great and good you are, I’ll shout Hallelujah all day, every day.”
Psalm 35:27-28 MSG
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