Social Security benifits

ron2 wrote:

Has any American expats had any difficulty getting their monthly checks deposited in a U S bank, and any creditors garnishing their Social Security?

Mine is deposited in a U.S. bank with no trouble with the deposit or access to it. I have no creditors.

ron2 wrote:

Has any American expats had any difficulty getting their monthly checks deposited in a U S bank, and any creditors garnishing their Social Security?

No issues with garnishment of my SS or Navy deposits in a U. S. Bank, but I cannot think of any reason to pursue that with me.  If you have prior military time, I recommend  USAA, they are only bank that reimburses up to $15.00 of international atm fees (to my knowledge).  Also BPI allows you up to P20,000 for a single withdraw.

madhatter868 wrote:

Along those lines, I bank with Wells Fargo in the USA and have found as far as transferring money their Express Send service is the cheapest I have found. I can transfer at night and pick up the next day at BPI, up to $3000 the cost is $5.00. Use this link to figure your cost; https://www.wellsfargo.com/internationa … -estimator  hope it helps

Todays rate, right now, is 45,934.90 PHP for US$1,000 (ie: 45.9349)

The street rate today is 46.9 for cash notes.

So the Wells Fargo cost looks like about $5 plus 1 peso (about 2%) in the dollar.

mugtech wrote:

Does anyone know how many USA citizens are currently living in the Philippines?

As at May 2010 the Philippines Census recorded 29,959 US citizens resident in the Philippines

ron2 wrote:

Has any American expats had any difficulty getting their monthly checks deposited in a U S bank, and any creditors garnishing their Social Security?

None. My SS is direct deposited into my bank in NC. Every six months a drop a personal check into my BPI Dollar account. No fees either end. Takes about 28 days to clear....good to go

kennieb wrote:

Mine is deposited to a US banque with no problems. I am limited as to how much I can transfer here in one day.  My problem has been trying to aids SSA  of my Philippine address. No problems with creditors, but I understand a creditor can garnish SSA benefits to a limit.

You better get that address updated. Every year I get an update request. The original form has to be completed and mailed back in the envelope provided. If not returned I can possible have my benefit interrupted.

ron2 wrote:

Thank you for your reply.  I just arrived in Cebu last Thursday and needed to hear something good.  I am hoping to be able to pay off bills with the savings in lower cost of living here and still have somewhat of a good life.

Ron, it is entirely possible.  I allocate about 40% of my monthly pension to debt reduction and still live comfortably.  Enjoy your journey!  If you come to Bohol, I will buy you lunch.

Richard

ron2 wrote:

Is it possible to live comfortable on around 60000 pesos per month?

Define "comfortable".

Some say you can, without a doubt.  Some say no, as they have different comfort levels.

According to a survey of over 100 expats living in the Philippines:

About half spend upwards of 92,000 pesos per month
About one third spend under 65,000 pesos per month
About one third spend over 115,000 pesos per month

roundhead1952 wrote:

i think this goes beyond the concept of "comfort". That survey puts me in the lower one third.  my guess would be that many expats (and I have met them) in the upper two thirds are really overpaying for many things because they try to do things themselves or the people they choose to trust should not have been trusted.  if you look carefully into the eyes of many merchants or landlords, you can watch their pupils change to the shape of dollar signs.  this is pervasive from government officials to tricycle drivers.  any expat here must avoid the middle man in any transaction, everyone gets a piece of the pie.  hide your face and let your gf/wife do the dealing.

Level of comfort is a choice, and it has a price.

I am in the middle third, through choice. Some people keep saying I am being ripped of, and I am a fool, because I spend more than them.

I must admit that I am getting a bit fed up with these people, who state that I am a fool for wanting to shop in SM, instead of local Filipino markets, for wanting to go to decent restaurants, instead of the cheap ones. Or just for wanting a higher quality of life.

You can't really negotiate the prices in most shop, or in Pizza places or Racks Restaurants, etc.
But you can Choose to eat in cheaper places, if you need to.

You can't negotiate the price of Electricity, but you can choose to use less, No air con for example.

You can't negotiate the price of your imported foods, cheese, steak, cornflakes etc, but you can choose to not buy or eat them.

Rents in prime locations are rarely negotiable, but you can choose to live in a not so prime location.

It is ALL down to CHOICE, in buying the normal quality of things that we are used to in our country, or buy the same as Filipinos. And that determines our level of comfort.

Some people have experienced higher comfort levels than others, and that must be considered also.

Before I came here, I believed those that told me that I can live like a King on 80,000 peso per month, BUT, they didn't explain what that really meant.

I agree with you on some people putting prices up to foreigners, trikes are a common one (I walk everywhere and avoid them), but fixed prices for everyone, in many shops, are a choice to buy or not.

I married a Filipino in 1990.  I know how things work.  But I choose to live a Western style life.

Many people choose this, but a number also choose the cheaper life, and that's fair, if it suits them. If it is what they want.

One size does not fit all.  And I would not want to put down anyone that did not want to live my style of life, a similar life that I have always lived, although not quite as good as it was.

ron2 wrote:

Thank you for the great advice and invitation.  I have never been to Bohol but hope to visit and now have a reason to visit.  Is it possible to live comfortable on around 60000 pesos per month?

We live in a province in the bush. we own our home. we feed 7 mouths, 2 dogs, 1 cat. we have only a trike for transport. we have sat tv, wifi broadband, and there is 3 cellphones and an energy bill at about P3600 monthly including electricity and 1 gas bottle for cooking. we have 2 kids in private school, we have 1 kid in university. we dine out for birthdays only. we do minor repairs here and there on the house. we do it on P44,000 per month. I have a good nest egg for emergencies.  there is always a little left over to put back for a rainy day. My wife does work, mainly for the medical card, ss and mutual fund.The rest of her salary is saved. We live within our means, not lavishly, but comfortably,sensibly.

It's all about the life style you choose.