30k USD annual pension. Can i lead comfortable life in Davao?

baron.ward wrote:

Thanks for reply good info. Don't know about being a millionaire but I take your point

I am in a similar position you, and I don't feel like a millionaire either
But the locals do consider us so.  A 40sqm condo, and once a month in a restaurant, and they think we live like Kings

However, with about 110,000 pesos per month, (A$40x33/12=110,000)  it is a reasonable lifestyle. Especially if you have the extra cash handy too.

I would "seriously" consider keeping your house, and renting it out for a larger income. It would give you more security for the future too.  I made the mistake of selling mine, and I now regret it.

roundhead1952 wrote:

For sure, I live on $1500 monthly here and I consider it "comfortable".  It all depends on what it takes for you to be comfortable.  Obviously, you could spend $2500 each month.  What you eat, where you live and what comforts you consider important all play into this.

I think it mainly comes down to how much you choose to pay for accommodation, and what you are used to.

I tried the 18,000 pesos a month accommodation for a while.  It was OK, but I needed to get back to normal at some stage.  I am now spending $1,200 a month on rent, but considering moving somewhere better, although at nearer $1,500 a month.
A decent restaurant for two is about $30 without drinks, so not something we do very much. The $2 eating out options are not really my style

People need to know both sides of the cost of living here.

$1,000 monthly is comfortable to some, but not others
$3,000 monthly is normal living to some, but living like a king to others
$5,000 monthly... Yes, I think I would like that

James Mitchel wrote:

If you hit the malls to shop you will pay almost American prices.

That's what people need to know.

The problem is that too many people have been told it is cheap in the Philippines, without any qualification like that.
Then they hit the malls and find it isn't.

Shop like locals and it is cheaper, eat like locals and again it is cheaper.

But... 8 oz Angus Steak for two with ice tea and that's 1,700 pesos (A$53) gone. (Racks Ribs Manila) Add an appetizer and a dessert, and it hits 2,500 pesos. (A$76)

Or Jollibee, two serves of 1 piece chicken and rice with coke is 158 pesos (A$5)

ABCDiamond wrote:

James Mitchel wrote:

If you hit the malls to shop you will pay almost American prices.

That's what people need to know.

Shop like locals and it is cheaper, eat like locals and again it is cheaper.

Or Jollibee, two serves of 1 piece chicken and rice with coke is 158 pesos (A$5)

I can't believe how expensive it is shopping in the malls! As you say, it's almost the same as USA or Australian prices. Australia is cheaper on many things. I don't think the ordinary Philippino could shop in the malls.

Jollibee may only be $5, but totally inedible for me! Too much sugar, too much salt and just not decent food. Most of the chain food places are the same. I went into a Kenny Rogers Roasters and it was garbage!

There are some good Filipino food places that are excellent value for money and with good food. Ask around and you can dine out well for $15-20 for two or 3 plus drinks.

I find most Filipino food is high in sugar and salt. The bread is inedible to me as it has a very high sugar content. It's like eating cake! I found some low sugar, low salt wholemeal bread in the supermarket.

OzFreddie wrote:

I find most Filipino food is high in sugar and salt. The bread is inedible to me as it has a very high sugar content. It's like eating cake! I found some low sugar, low salt wholemeal bread in the supermarket.

I eat the Gardenia Bread; 62 pesos ($1.90) Very close in quality to the ALDI white bread for 85 cents.
The milk is twice the price of Australia, Cheese is 3 or 4 times the price.

Most Australian type food is more expensive.  The only way to live substantially cheaper is to change lifestyle.

And yes, that can also be done in Australia too, for people who need to live cheaper.

sirrobcentral wrote:

That's 30 times the money most folks will get in a year. Please stop acting like its a hard task...itsxa frickin no brainer. Your wealthy beyond your means... Enjoy it and stop acting like its so hard to make it here ....

US$30,000 is 1,350,000 pesos per year, or 112,500 per month.
That is near the average of what a fair number of expats spend for their choice of western lifestyle here.
                   
You say "that is 30 times the money most folks will get in a year" .   

So that’s about 3,750 pesos per month       
That may be correct for a poor Filipino, but this site is for Expats, normally used to better living standards.

The psa.gov.ph site quotes: ” In 2012, Filipino families had an annual income of 235 thousand pesos, on average.”   
That is about 20,000 pesos per month, per average Filipino family.
                   
Not a lot for the average Ex-pat style of living.                   
I just got back from SM and spent 2,000 on food etc, and I do that 5 or 6 times a month. And its full of Filipinos spending similar figures.           
                   
I spend on average 16,000 a month on food and household stuff.   
I spend another 4,000 a month on eating out.  We don't eat out much.  Maybe once a week.

If I wanted a fast Internet, Globe charges almost 3,700 per month for its cheapest Unlimited broadband plan at 25 Mbs.

For a Filipino style life it can be cheap.
For a Western compatible life it isn't.

OzFreddie wrote:

You need to remember that mostly the guys here talk USD.

USD30,000 is AUD43,000

Your AUD1000 is only $703 so do your sums by converting, it makes a big difference.

They should all talk pesos or pisos.

This thread caught my eye, in relation to the currency, from the very beginning:

Title: 30k USD annual pension
Actual: I have a life long annual pension of 40k AUD

Neither figure means anything if the FX rate changes...

My rent used to be $880 pm but is now $1,156 pm, but it has stayed the same in Pesos.

Not long ago the 30k US was 1.2m peso and the 40k A$ was 1.6m pesos
But now 30k US is 1.38M pesos and 40k A$ was 1.32m pesos

You say that "AUD1000 is only $703", but both are actually the same (if the FX rate hasn't changed) at 32,850 peso or 32,876.

If someone with Australia as their base/home talks dollars I will always assume A$, but I notice that most will say AUD or A$ for clarity.

James Mitchel wrote:

Once you are set up & learn how to shop here.

That is THE big thing.  Need to change your lifestyle.

After two years in Philippines, I am now back in Australia, and I am finding that food is cheaper in the Supermarkets on the Gold Coast, that it was in the SM Hypermarkets in the Philippines.

My Girlfriend is even happily buying clothes cheaper here.

Our first dinner back in Australia:

Dinner in Australia

$2.76 Chicken Tenders Crumbed (commercial pack) $9.22 kg
$0.63 Frozen Chips 300gm at $1.89 kg

Australia: Total for fried chicken and chips for two: $3.39 or 110 pesos

Dinner in the Philippines

60 pesos 300gm Chicken Breast at 197 peso per kg (A$6.15)
80 pesos Potato for French Fries

Philippines: Total for fried chicken and chips for two: 140 pesos  or $$4.40

It's weird but cheaper in Australia...