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Rising costs of living and shrinking savings force millions of Americans to consider retiring overseas. Last year, data from the Social Security Administration showed that about 450,000 people received benefits outside the U.S. as of the end of 2021, significantly up from 307,000 in 2008.
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Retired in the Philippines For a ‘Fraction’ of U.S. Costs
Earlier this month, an American dividend investor shared his retirement story on /Dividends, a community of over 618,000 income investors on Reddit. The investor, 41, said he retired in the Philippines four years ago “for a fraction” of the costs he was paying back home.
“We own our property. I lost 40 lbs. Our health is great. My wife gardens, we have 10 dogs, we have a rice field – 3 plantings a year. I work around the property tending the fruit-bearing trees. We travel in-country a lot. Life is good. Freedom to choose.”
Earning Monthly Dividend Income After Selling House Back Home
The investor, who said he was married to a 39-year-old Filipino woman, sold his house in the U.S. for about $175,000 and invested in two closed-ended funds. According to the data provided, he was earning about $2,700 a month in dividends from these two funds. He also had a leveraged ETF in his portfolio, which he said was mostly for “capital gains.”
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Life in the Philippines – Own Land, Starlink, Driver, Cook and Caretaker
Redditors initially grilled the investor on his choice of risky ETFs and the sustainability of his retirement plan. However, he sounded self-assured and spoke about the quality of life in the Philippines.
“We own over 10,000 sqm of land, gated. We use Starlink. We own two (2) vehicles. We have a staff of three (3) people – live-in driver, cook and caregiver. I’ve been through a bear market already. If living this way is dumb, then here I am. We can compare annually if you want.”
