tropicalpenpals.com A UK - Philippines family

You probably read this and will either think good idea, to late or too soon. Simply there is no time like the present to setup your retirement. Im not one for banks or reliance on any financial institute because quite simply they are there to make THEM money from yours. If the markets shift down you lose.. if they go up you gain a little. Point being there are easier ways to make money. Dont get me wrong you will always need an income. But property rentals or small businesses that can generate incomes or can be run for a small amount of time would probably be a better option. So if your reading this you are probably thinking about how to retire and if your thinking about it this is the right time to start doing something about it.Dont rely on a pension fund that you have paid into for X amount of years because its not inflation proof and if youve got a good pension you have more than likely had a good income up until then so wont be too worried. Either way you should start looking to sprout roots. The advantages the Philippines has over many countries is the weather and cheap employment. Aswell as the ability to own cheap property if you have a Filipino party who you trust with the assets. Otherwise maybe better at looking at renting back in your homeland and renting in the Philippines. Each country has different variables for properties so I would strongly advise a lot of research before any commitments. Myself the UK is over inflated about to have a bubble burst and a deflation in houses but not on the same way as the U.S. quite simply we have to many migrants a house going bust can be easily filled with potential tennants. But buying a house I cant justify for the long-term in the UK. So im heading home to Cebu and developing houses there with my wife. This not only gives us the benefit of an income but a long-term stable income at that. I believe for any investments you need to look over everything to make sure the decisions are right and that its right for you. Property is something that can go good or bad if being constructed by yourselves in any country. But I know of many horror stories from materials being stolen by the builders, overcharging and money theft to name but a few. You need to be either on the ground or have someone with authority and can be trusted to represent you. You will be seen often as the “rich kano” so stealing from you isnt seen to much as a crime because you can afford to lose it…right?? Well simple answer to this is be ruthless dont cut slack and if you give an inch make sure the people are aware why. Dont act without reason and if working with a bonus system for working harder etc. Pay the workers in food not extra money, the food is benefit to all money is likely to end up being drunk and a sick worker for the following day. Before anyone shouts this as a racist comment its not its worldwide. You have any construction workers give them a heavy bonus and they drink it. Ive been there, done it and got the T Shirt. I was a contract carpenter for many years and when on the bigger contracts alcohol was normal after a working day and spending $500 a week just in bars was accepted with all the guys I worked with. Then $5000 a week was being earned. Point being pay in food if you can otherwise you could damage your own productivity. Monitor what equipment you have and book it all back in at night. Deal with the materials yourself or with someone who can be trusted as there is likely to be things disappearing quicker than you can count it. Best advice is be there yourself if possible so you can see how things work. This will also give you the opportunity to understand the working methods as they differ from the west considerably. Something that gave me frustration when trying to complete a job that with the right mix takes 2hrs in the UK but in RP with cement several days.
Business investments for retirement can be very high risk in the Philippines so strongly advise looking around for other ideas if possible. The problems with corruption, competition and jelous locals could scare the best of us. Aswell as possibility of imprisonment or death.
So just take your time over looking at new avenues of business.

I have no money to invest!
Ok well there are more ways to make money than your currently looking at. If you browse the forum for small business ideas it will give you an idea of things to look at.
http://www.forums.tropicalpenpals.com/

Not every idea is going to suit you but the list is just to give you some ideas to get started. There are lots of jobs people quite simply cant be bothered to do or dont have the time to do. Setting these up on a few hours a night or every other weekend etc. Will soon build a fund. I advise banking it seperate to your general funding this way you can see a “retirement fund” growing. Which if you play things right and invest a little of it here and there in ideas and expansion you will start to develop a small business geared towards your retirement. Hopefully not before you get too old.. Aswell as managing your existing employment which keeps the bills paid.

What are you going to do in the Philippines? Well you will be surprised at how many people spend a lot of time doing a little but seem to be tired by the end of the day. Day to day things run a lot slower in RP and one thing you will learn is there is no rush!! this is what your gaining in life.. a world that has time for everything and your well being.. chatting with neighbours, visiting houses for dinner, having people over. Many of the routine things that are now missing in the West. There is also sailing,boating,diving,treking,motorbiking,exploring islands to name but a few things to fill your time.
I love the Philippines and I hope you will do too.

I dont have all the answers but one thing i will say “START PLANNING AND DOING NOW” put it off and before you know it a couple of years have past and you still havent started. I would love to know peoples ideas and things they get upto regarding aiming for retirement. Please add your replies.