Investements / Savings in PH

Is this 15% based on income or is it an across the board tax for all interest i come? Also, are any of the deposits insured?

@aklokow

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@Jessy Goder Jessy i am not promoting any services just asking a question. I do not understand how you saw from my post any services.

Anyway lets not ponder on this i suggest just remove it then there is no problem.

Apologies to all if it came across as if i am offering any services  i am not.

Best to invest in USA for me.  In 1994 exchange rate was 25 pesos to US dollar,  local banker said I could invest in pesos at 7.2 %.  Told him I could make more money investing in USA at 3%.  10 years later the 250,000 pesos would have doubled to 500,000, when the exchange rate was 50 pesos to the US dollar.   So I would have the same $10,000 I originally invested, but would have had to pay USA income tax on my interest earnings each year, at about $100/year.  So I would have lost $1,000 by investing $10,000 @ 7.2% interest per year.  The same $10,000 in the USA @ 3% would have earned me $250/year after taxes for a net gain of $2,500.  Of course the Philippines withholding I could have used as a foreign tax credit in the USA, holding my losses to $1,000.

    @Jessy Goder Jessy i am not promoting any services just asking a question. I do not understand how you saw from my post any services.
Anyway lets not ponder on this i suggest just remove it then there is no problem.

Apologies to all if it came across as if i am offering any services  i am not.
   

    -@aklokow

@aklokow This obviously seems to be a misunderstanding. The moderator (Bhavna) deleted a post from Jessy Goder (not a moderator), because she was promoting services - not you. ;-)

Regards Chris

Agree mugteck, We keep all our investments in Australia, safer and I think much better returns. The old saying "better the devil you know"'

All that aside perhaps some people want all their wealth here, perhaps no overseas banking, many reasons.

I don't like the low government guarantee on funds in the banks here compared to Australia/probably many other countries.

I have mentioned my superannuation in another post and now I draw a pension from 4 months ago there is no 15% tax on earnings so averaging 12% return. Money in the bank only 5%.

Cheers, Steve.

There was a major bust yesterday in Cebu on an "investment firm" scamming investors for quite a bit. Targeting foreigners and crypto. I suggest staying away from PH investment companies in general. There's a shit-ton of scams going on from here. Along with Cambodia, China. Google pig slaughtering for more. And I don't mean the animal. It's almost rampant.

I collect my 5.3% to 5.8% from the Fed in T-Bills. The fed has never failed to pay. EVER. I also have some stock in oil sector and uranium mining. Including two oil stocks paying better than 20% dividend and have been for a couple of years. That's really hard to beat.

That's fantastic Larry, well done. Are your dividends inclusive of the tax regime in the States? Regardless you won't get secure returns like that here. Setting up a business here (the right one) could be lucrative but the same in any country.

My problem is that my super hit the max by government limits (which is Stupid) of around AU 1.6M so I had to draw a pension to keep it around the threshold. My investments are the Australian share market and so far this financial year (July to June) and in those 8 months is running at over 15% return but as you know stock markets are well up, average 12% over the years and now not taxable drawing a pension, problem is that I stick the excess money in my investment account and only get 5% and then pay tax on those returns. Weighing up better ways to invest and probably start a new super fund for my adult kids for when I die. Still thinking thinking the best way to go.

Cheers, Steve.

My capital gains are taxable Steve. But it's really not so bad because my Social Security income is small and keeps me in a low tax bracket.

I don't have a ton in stocks. Actually only 25% of my investments. The rest being in T-bills which is the safest spot for a retiree. Every month I buy T-bills. Every month some mature. So I have residual income basically hitting my bank in small amounts every month. I have been doing 6 month T-bills at around 5.8%, but recently the rates have gone down and the best rate has been on 13 week and 17 week at around 5.48%. It only takes maybe 15 mins of my time per week to look at the current trends and basically only once a month make a decision on which to purchase. This also means every month one is maturing so if for some reason I need more cash, I have it available monthly. Kinda like my 2nd emergency fund.

Did you know you even as a foreigner can invest in US T-Bills? A very large amount of the money they get is from foreign entities/individuals/governments. Just look up Treasury direct dot gov if you're interested in it. And tons of youtube vids explaining their weird pages. You know the gov can't ever make it clean and simple! lol

My investments into oil stocks are not US stocks. But on the US exchange. Let me just say there's some South American oil companies with excellent returns. And I'm not talking Venezuela. As for Uranium mining the US gov has committed hundreds of millions in contracts to buy uranium. And it's at all time highs. World wide, because of the climate change and need for clean energy issues, more and more is going nuclear power over the next 5-10 years. I'm in on a company with massive uranium deposits available and they are stock piling. I'm projecting a real possibility of more than doubling in 2-3 yrs.

Good luck if you look into it. Do your due diligence.

Larry

Yes Larry, due diligence or buyer beware.

At least you get a part pension but for me nada after paying taxes for 45 years and I have been retired since I turned 59/60 and working my but off I don't qualify nor ever will for the Australian aged pension, apparently I worked too hard, bitter/sweet as I couldn't live off their pension anyway at only about AU 22K and on reflection very glad I worked hard and invested wisely. Growing investments/assets is my focus now and trying to limit my obligations to the Australian Tax Office. Seems an interesting path to tread but I'm walking it and even more focused now trying to stop the maggots eating into my hard work.

All aside I am very reluctant to put funds into anywhere here but our safe, we are in control.

Cheers, Steve.

I also keep my investments in US brokerages but with some international exposure, mostly mutual funds and primary home.  All have done well recently but who knows in the long run. Lots of potential headwinds on the horizon so I have a fairly conservative position and no debt of course.

@aklokow

I am sorry, my bad. I think it's my fault.

I'm still rather young in comparison to most expats, and still 6 years away from moving to the Philippines. I'm 46 and my Filipina wife is 44. We won't invest any money in the Philippines other than building a house and buying a condo. I keep most of my money in schd, high yield savings, and a few other dividend index funds. We will be relying on that as income for over a decade until our social security and my federal pension kicks in at 62. I couldn't afford risking that money in another country's investments instruments. I know the USA has safeguards even if they are not perfect and many examples of failure from the sec and other agencies, but I understand America's markets and know how to petition if I'm a victim of fraud. I feel I would just be out of luck in the Philippines if I lost my money to a bad investment scam.

    I'm still rather young in comparison to most expats, and still 6 years away from moving to the Philippines. I'm 46 and my Filipina wife is 44. We won't invest any money in the Philippines other than building a house and buying a condo. I keep most of my money in schd, high yield savings, and a few other dividend index funds. We will be relying on that as income for over a decade until our social security and my federal pension kicks in at 62. I couldn't afford risking that money in another country's investments instruments. I know the USA has safeguards even if they are not perfect and many examples of failure from the sec and other agencies, but I understand America's markets and know how to petition if I'm a victim of fraud. I feel I would just be out of luck in the Philippines if I lost my money to a bad investment scam.
   

    -@violaceousnurse

Not sure if you are aware but total foreign share of most investments is 40%. That does not restrict you much on the Philippine Stock Exchange since there is not much foreign competition on stock ownership here. But other investments such as land or private businesses would handicap you completely unless you made your Philippine citizen wife or Sig other Phils citizen your partner. In that case you would know the risks. Stocks have been doing well here but the scams you mention are a problem in the other areas. You are wise to confine your investments to the US, perhaps less return but much safer.

@aklokow

CIMB bank (Malaysia) has a new CD account called Max Save that earns 7.5%. They are covered by PDIC up to P500,000.

https://www.cimbbank.com.ph/en/digital- … xsave.html