If you're reading this, I'm earning money. Thanks for helping to feed my family. Please see our disclosure for more information. Also, any advice provided is for informational purposes only. I'm not a CPA, lawyer, or doctor, although my parents wanted me to be all three. So, talk to a professional before acting on anything you read below.
Everyone has different reasons for retirement. Some have to unwillingly stop working due to health issues or compulsory retirement policies. There are others who need to retire since they are already burned out or tired of doing the same job for many years. Some have to retire early to care for a loved one, while are others are lucky enough to be financially able to retire early.
No matter your reason for retirement, one thing you'll need to figure out is where you plan to spend the rest of your retirement years. This is one dilemma that many people have to face. While others have no choice but to retire in their own homes, there are still many who have the privilege of choosing their retirement destination.
Are you among those who are looking for a good place to retire? Here are just three reasons you should seriously consider the Philippines.
One of the reasons many people, both local residents and foreigners, would choose to retire in the Philippines is the low cost of living. Sure, there are other countries with considerably lower living costs. But with the many house options available, you're sure to find one that will fit your needs and in a more comfortable state.
If you want, you can buy your own house or rent an apartment, a condo unit, or a townhouse in your favorite province. You can even snag a good deal and find a place to stay in one of the country's best mixed-use urban development projects. This allows you to stay in a well-curated living space complete with the amenities you may need to live comfortably.
No matter your age, race, sex, or religion, most Filipinos will welcome you with open arms and wide smiles. Their hospitality and generosity will make you feel right at home, no matter how new you are in the country. Since a huge number of the local residents speak and understand the universal language, you'll find it easy to mingle, go around, and form lasting friendships.
Do you know that the Philippines is so welcoming that a number of attractive incentives await foreigners with ages 60 and up? What can you say about airport travel exemption taxes? How about duty-free import for household products of up to $7,000? You'll also find it quite easy to achieve permanent residency, making leaving and returning a piece of cake. You can even easily invest your hard-earned money to buy your own home or start a business in the country. Don't forget the senior citizen discounts.
Now that's more than enough reason to say yes to this beautiful archipelago. But before you pack your bags, know that you should make it a point to really plan your retirement. You need to make sure that you're ready-financially, emotionally, and psychologically-to make the move. You should take planning seriously, as this is not just another holiday you're preparing for. Your decision can affect you for the rest of your life, so make your choice wisely.
What Fatherhood Means For Your Finances
How To Take Care Of Yourself Financially After An Injury Or Accident
How To Deal With Student Loan Debt
Tips on Investing Late in Life for Retirement
Debt Avalanche vs. Debt Snowball: What’s the Difference?
Tips to Manage Finances the Right Way
5 Times You Should Consider Contacting a Financial Advisor
Ways To Achieve Early Retirement
Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.