Should be more than 1%. A lot of Filipinos that have successful small to medium sized businesses don't declare income in order to avoid paying income tax. That's a hidden economy that everyone in the Philippines knows about. These successful business owners can't even apply for personal credit cards because they have no income and earnings history. I peg the top income earners in the Philippines at 10% to 15%. I've met humble chicken farm owners that bought 12 million peso condos in cash in Manila while owning several more.
@@TheSavvyExpat AND YOURS IS BAD OIPINION WHO GOES ON ACTING LIKE YOU KNOW IT ALL, WHEN IN FACT YOU KNOW LITTLE.. IMAGINE CALLING PEOPLE WITH ONLY $60K AS BELONGING TO THE 1%? DO YOU EVEN HAVE AN IDEA HOW LONG WILL YOUR $60K LAST YOU IF YOU LIVE LIKE YOUR SO CALLED 1%? YOU MUST HAVE NEVER WORKED ALL YOUR LIFE. THAT'S HOW A BUM YOU LIVE MAYBE. SO CLUELESS ANDLAZY.
I'm thinking of retiring there in the Philippines. Living a simple life isn't too much of a problem for me as my grandmother in Lithuania lives a simple life. Life in the Philippines seems very exciting to me even if there are some quirks that can be annoying
just be kind to people and you will live peacefully in the Philippines .... I saw so many retired US military living their last days in the Philippines
And people wonder why I want to live in the Philippines - it’s a no brainer! Yes, I really do want to live like a king. Awesome vid once again Evan, salamat!
Yeah lol. I've got a few friends that think I'm nuts because I'm planning on quitting my job and moving to SE Asia when I turn 40 in a few years, but I think they're nuts because they spend all their time working to buy 80,000 dollar cars and big houses they never get to enjoy because they're always working. It was an eye opener for me when I realized just sitting back collecting dividends on 1.5-2m would make me a top 1%er in a lot of nice places. Sure my friends will all have nicer cars than I'll ever have but I think I'll be far happier on my 5 minute walk to the beach than they'll be sitting in their fancy car for their 30 minute commute to work.
Interesting video. I'm an American expat living in the Philippines and I've thought about moving the fiance and kids to America. The problem is 3,000 dollars a month with a family of 5 puts you just above the poverty line in America. I was amazed how much America prices have increased in the last year. You know things are expensive when McDonald's pays 15 dollars (750 pesos) per hour and that was in a Midwest city. Poor in America or rich (relatively) in the Philippines.
When people think of high income they think Rolls Royce, Mansion, trips, etc. On the contrary, most high net worth people are quiet millionaires that don't display their wealth. Many still drive Toyotas and eat at home. It's the pretentious credit card group that you will mostly see at Starbucks wearing fashionable clothes drinking 350 peso coffees. Millionaires got rich because they were wise with their money and never forgot their roots. I have a friend who is the son of one of the wealthiest families in the Philippines. He said his Dad was at the store. I couldn't spot him. He pointed him out and his Father was wearing a white kamiseta with no jewelry. Basic down to earth guy that I could mistake as a driver.
Great video! However, there’s one major factor to also consider here and that tax evasion is pretty much prevalent here in PH, especially among high income professionals (ex: some consultant doctors, lawyers, etc) and many businessmen. False income statements really skews the data but, there’s still no denying that many Filipinos struggle financially due to financial illiteracy and unfortunate upbringings. You might be able to rent with $60k in metro Manila and the surrounding provinces, but 9/10, $60k isn’t enough to buy anything significant especially with regards to real estate.
that's why I always try to do financial comparisons based on the cash in your pocket, versus your income per year. for example, someone making 100K per year in the USA is going to be paying a combined tax rate of probably close to 40% between their Federal rate, their social security and Medicare rate, and other miscellaneous BS taxes. making the same money where I live in panama, my tax rate is only 15%, so I have far more cash in my pocket based on the same annual income. so when I tell people about costs and how far your money will go and how much income you need, I base it all on the actual dollars in your pocket rather than trying to second-guess how much everybody's tax rate is.
I see by this video I could live very well in The Philippines on my Retirement , But it's hard to pack up & move to a nation you have never been to before.
Wow Evan! Your last bunch of videos, including this one, have been incredible! I find them extremely informative and helpful. I am even more excited now about coming to your country. An extremely good life (top 1%) is very affordable there. I can see why you like it there. 👀🕶️
I admit I should've taken that into account for sure. The point is, 1% of Filipinos have $60,000 in the bank. Then again, there's a lot of fraud here too. Next time, I'll discuss net worth instead.
@@TheSavvyExpat YOU ARE SPREADING MISINFORMATION. I LIKE ALL OF YOUR VIDEOS FOR HOW TRUTHFUL THEY ARE BUT THIS PARTICULAR VIDEO IS A LOAD OF NONSESNE AND DISINFORMATION. DO YOU EVEN KNOW WHAT 1% MEANS? ONLY $60K TOTAL MONEY AND YOU CALL YOURSELF BELONGING TO THE 1%? I DON'T CARE ABOUT YOUR LIFESTYLE. THAT'S NONE OF MY BUSINESS. I AM A TRADER AND I EARN 4 FIGURES A DAY IN DOLLARS, AND I DON'T CONSIDER MYSELF BELONGING TO THE 1%. ALSO, WHY DID YOU BRING UP YOUR LIFESTYLE? NOBODY'S ASKING ABOUT IT. WE ALL KNOW THAT IT'S YOUR PARENTS' MONEY, NOT YOUR OWN MONEY, YOU ARE JUST A LAZY BUM FEELING LIKE YOU HAVE THIS LIFESTYLE. IM NOT AFTER THAT, WHAT IM AFTER IS YOUR MISINFORMATION IN THIS PARTICULAR VIDEO. YOU CALL THOSE WHO HAVE $60K AS BELONGING TO THE 1%? SERIOUSLY? DO YOU EVEN KNOW WHAT YOU'RE TALKING ABOUT? $60K WILL ONLY LAST YOU MONTHS IF YOU GO ON LIVING LIKE YOUR SO-CALLED "1%". EVEN THE CHEAPEST HOUSE ONE CAN GET IN A GATED COMMUNITY ALREADY COST YOU $20K AND YET YOU CALL THOSE WHO HAVE $60K AS PART OF THE 1%? REALLY???? HOW DID YOU COME UP WITH THAT? DO YOU HAVE STATISTICS TO PROVE THAT? DO YOU REALLY THINK MOST FILIPINOS ARE THAT POOR? DMNYOU. HOWIG. NOO. RANT. YOU ARE.
I think it’s interesting to look at both net worth and income range. Let’s be honest, I believe most Americans’ net worth is tied to their primary home’s equity (it’s documented but can’t find the source at the moment), which is illiquid and doesn’t tell us anything about their income or spending habits. On the one hand, you can have a family with $200k equity in their house but with very little income to cover their expenses. On the other hand you can have a surgeon making $400k per year and living a great lifestyle, but is also up to his/her eyeballs in debt. I think the spending habits of the purported 1% income earners in the PH is of more interest to the viewers on this channel because it gives them an idea of what life can be like in this country by comparison.
I'm interested in the cost of living not to live in luxury but to FINALLY get myself in a better financial position. To destress and have enough leisure that I have some freaken perspective and make a positive impact instead of just making an existance.
Very good video. Personally, I probably wouldn't have all the "extras" because I can and would cook and clean. And a driver? Driving is one of my favorite things to do! So I guess my$3000 would go a long way.
You need to break it down more, do you want to hang out mostly in beach communities , or do do want to combine it with some partying . To break into in a guide is really tough. Remember there is over 7,000 islands . How many do you want to visit, my personal goal i at 100 Islands , i am going to see how many islands i can dive off of into the water , thinking i can hit at least 50 in one day. Would you rather surf or maybe climb mountains . i just finished a 4 day trip and hit 3 waterfalls and about 30 islands. Next week i am driving from Angeles City where i own a condo to furthest point North on Luzon, it will take about 30 hours to get there , plan on hitting a lot of beaches. You asked for help , but which island do you want to start on ?
@@michaelbyrne5469 Thanks for the prompt reply. The goal is not quantity but quality. Looking for the most in nature, snorkeling, free diving, waterfalls, any hiking, Island hopping, and anything natural. Not into crowds, clubbing, or man made structures. Primitive culture and helping people would be enjoyable. Helping the destitute, orphanages and spiritual destinations could be a plus. I know it's a tall list, but I would like to develop some true friendships with humble, gracious people that are unpretentious and deserving of my help. I am not ready for deployment until early next year. I am a 65 yr. old Californian who hasn't traveled since the early 90's.
I think many in the comments are focused on the wrong thing and missed the main point. The biggest take away should be that if your pension, retirement, however you get paid each month is around $3000 you can live very well in the Philippines and still afford the luxuries that are considered reserved for the very wealthy in other countries, like spa days, vacationing at resorts, etc. That was my take away from the video.
Well you could stay at the incredible Shangri La hotel in Mactan Cebu , right now the rooms go for $500 per night US. There are some other 5 star hotels close by that are only $300 per night. $3000 a month you will be ok , but wont be staying in 5 star hotels much. I try to go cheaper and my budget is $6,000 per month US. I spend max $150 a night for my hotel stays , almost, all places decent now are around $75 per night , thats state side border line 3 stars hotels.
For a young-looking guy you certainly hit the nail on the head regarding many if not most of the facts in the phils. The depth of your knowledge is amazing. I assume you do a lot of research and thanks for that
No, he didn't. He is SPREADING MISINFORMATION. All his VIDEOS are great FOR HOW TRUTHFUL THEY ARE BUT THIS PARTICULAR VIDEO IS A LOAD OF NONSESNE AND DISINFORMATION. DOES HE EVEN KNOW WHAT 1% MEANS? ONLY $60K TOTAL MONEY AND HE CALLS PEOPLE WITH THAT MONEY BELONGING TO THE 1%? DOES YOU EVEN KNOW WHAT HE'S TALKING ABOUT? $60K WILL ONLY LAST YOU MONTHS IF YOU GO ON LIVING LIKE YOUR SO-CALLED "1%". EVEN THE CHEAPEST HOUSE ONE CAN GET IN A GATED COMMUNITY ALREADY COST YOU $20K AND YET YOU CALL THOSE WHO HAVE $60K AS PART OF THE 1%? REALLY???? HOW DID HE COME UP WITH THAT? DOES HE HAVE STATISTICS TO PROVE THAT? DOES HE REALLY THINK MOST FILIPINOS ARE THAT POOR? THIS EXPAT OF 3 YRS IS ACTING LIKE HE KNOWS THE PHIL HIS ENTIRE LIFE. HOWIG NOO RNT.
Young Prince man: This video was very interesting to me. I love this. Most Americans and other foreigners are unaware of the dollar and peso exchange rates. So, they are confused. I believe if many Americans in particular would not be timid and afraid to relocate to the Philippines. They would find their life move up status wise so tremendously. You find many Americans on social security who say they are struggling. If they took a chance and moved to the Philippines, they would be thriving again. Even if they stayed the maximum tourist Visa stay of 36 months. Even better get SRRV retirement Visa. They would feel better and more confident too. I know many of our friends the Filipinos most likely say, why do lots of these Americans and foreigners complain so much? Once again, videos like this just reminds me of my future dreams to retire in the Philippines. I am so glad I lived there before during my US American Air For Security Police days at the old Clark Air Base, Philippines. Thank you so much for this information.
It’s true that the price for coffee equals a days wages of the average local Filipino. If I was paying a day’s wages for a cup of coffee in the States, no way. Usually, the only local Filipino’s at Starbucks are very well off Filipinos, Balikbayans (Filipino’s vacationing from abroad), or visitors from other countries. Balikbayans would also invite family and friends to join them.
Crazy to think just my spending budget in retirement here in Florida is 12K, my HOA along is 1,100 per month. I would be doing exactly what he suggested, driver, luxurious apartment, nice place on the beach, etc etc.
Awesome content. We've been watching you for a while now. We're thinking about taking a trip there this summer. Would love to meet you! Wishing you and your channel the best! Ingat!
Another great video. I'm here in Los Angeles area and $3k per month is just scraping by as even 1 bedroom rental is almost $2k. It seems like $3k per month in The Philippines is a great life.
@@TheSavvyExpat I'm definitely looking forward to the life over there. In the US as you know, it's just work and not too much reward. Also it seems like relationship is hard to come by here.
Right there with you Jerry here in Long Beach with $2500 in rent. For the past year I have watched the real estate in Palm Springs (my retirement 1st choice) soar past what I was wanting to spend. An RV I wanted to buy has increased by 20% and then there is the gas price. The Philippines has been my prime destination for vacations for over 12 years. It's a beautiful country with good people and a very reasonable cost of living. I am looking at it with greater interest as a place to retire and want to try a six-month stint to test the water when the time comes later this year. I have never been there in June or July with the extreme heat and typhoons. There are some good expat Facebook pages that are very active, and I think it would be easy to develop a small circle of friends.
@@ricknolte6846 US is definitely too expensive. I don't think even $10k will take you too far in Los Angeles County. I think The Philippines is a better deal.
Great video dude, im not an expat but I love your video gives me a perspective on what level I need to achieve financially to live the expat lifestyle.
on the heels of what it takes to be a 1 percenter, I would love to see a video that talks about the cost of doing day-to-day things in the philippines. how much does it cost for a slurpee at 7-eleven? how much to grab a quick skewer of chicken from a street vendor on your way to the mall? how much does it cost to park your car or scooter? how much should you tip the guy who carries your bags at the hotel? how much should a taxi or trike or some other transportation cost per kilometer that you are traveling? all of these different prices could be used in conjunction with your opinion of how much cash a person should have in their pocket as walk around money (WAM) in order to make it through a typical day without having to stop at a cash machine or something. it would also be good for you to give us an idea of what sort of denominations of money we should have. for example, a 1000 peso note is probably too big of a tip to give to the baggage handler, and he's not going to have any change to give me money back, so I kind of need to have some amount of smaller denominations available.
I'm a "retired" FilAm based in both Las Vegas and Makati. Yes $3,000/mo in the Philippines is upper income ( top 1%). That is why FilAms should seriously consider retiring there. I budget $5,500/mo when I go to Philippines and that is way more than enough even including some travel to other countries in the region. Just think about it, $3,000/mo in America puts you below poverty line! So, if your retirement income is just $3,000/mo in the US, MOVE TO THE PHILIPPINES NOW! I love the Philippines!!! Mabuhay!!!
Now I’m tempted to move my studio operations to the Philippines 😵 An interesting thing I learned from my cousin who’s in the oil business is that helpers are not “uso” in Baguio. I’m sure there is still a demand for them though
Tuli, A great video. A real eye opener. Thank you for sharing. I have had a driver in the past. I have a place in the Province and a condo in Manila. I have used the term "hybrid" lifestyle for many years. One never knows when they will need medical care. We found that having household help paid for itself on the houseboy cooking, security, saving at the market by bargaining. I love the beach and l have been to many resorts. I still like to live a simple life. My wife likes a dressmaker and she also likes massages. Thanks again for an awesome video. Stay well.
We pay our houseboy, my wife's nephew, about double what other locals pay their household assistants. He is very happy with the house. He stays in our home alone most of the time. We pay the lights, gas, water, phone, cable and internet. All he has to pay is for his own food and transportation. We pay him a great salary and we also pay his SS. We also send frequent BB boxes.
Your information and advice in your videos are pretty spot on. Like very true that the top 1% are mostly middle class everywhere else. I have met a broad spectrum of expats who either love it or hate it here...weirdly enough the most dissatisfied ones are men who marry women from bars or women who come "looking for the right guy". They always say it's hard meeting "normal middle class Filipinos" 🤷Go figure. Anyway, your channel offers the best tips for expats, I hope more watch your channel and follow your advice so they can enjoy their time here.
there is a TH-camr named Paddy in the Philippines. he recently put up a couple of 15 to 20 minute walking tour videos of high Street in BGC. I think you would do a fantastic job with a similar type of video.
nice video, quite informative, but I think what you have just shown is not really the top of the crop percentage, just the one step down from it, the top 5-10%. I'm a local, the lifestyle you have described is what we call the "upper middle-class" of society. The earnings are correct, but they are not the top. There are people here that earn around four thousand dollars or two hundred thousand pesos and ABOVE per month. These people are usually business executives, contractors, large business owners, and other successful professionals.
Can you clarify what the top 1 percent means. You said 60 in the bank, then you compared it to 60k in annual income. You also use the term spending budget to define the 1 percent. Those terms have different implications to wealth. Could you put it in terms of net worth?
I believe that he was comparing 60 in the bank to 60 annual income to show that 60 in the bank is not as much as people imagine, since the average American makes that much every year. if you can save even 10% of your income every year, by living below your means, then you would have enough in the bank to be a 1 percenter in the Philippines.
The point is $60,000 in the bank is not much since the average American makes that much per year. I use the monthly salary to show that 1% of Filipinos make $3,000 per month
There’s a more interesting thing to note. If the price of a good coffee is the same as in the West , then the owner of the coffee shop is making a very fat profit. All his inputs like wages , rent are less but he charges the same. What’s going on?
Are there any areas where animals are treated better? In Manila and in the province I witnessed people ignoring animals in the streets that we in america would be helping. In one day I witnessed two dogs in the province with broken legs that people ignored. Was heart breaking.
Very informative videos... Thank you! Can you tell us how much it will cost to open up a small business such as milk tea place or small local hamburger/pizza place either in the city or in the province?
My wife introduced me to some of our ninongs, (not sure how to explain what that is) I guess like sponsors? And they are rich by western standards, they’re hotels and ferry owners, one was a bank president. All very low key, and down to earth you couldn’t look at them to tell.
I wish most rich people would behave that way. Stay low key. I do see many western vloggers in they Philippines showing there daily life. They seem to just bragging about all the wonderful cafes and restaurants ,condos and cars they drive. I do wonder what the average Filipinos think 🤔.??
@@evelinholmes6401 Well most those vloggers aren't rich, and doing that stuff to make videos is literally their job. Their content wouldn't be interesting if they were making videos like "Hey guys, look at me eat a Big Mac...they're just as bad as they are in America!"
@@evelinholmes6401 Me as an average Filipino think? As long as they mind their own businesses, don't be a toxic Karen, not an entitled bitch, not causing public disorder, not cutting lines in queue when i see them, fine.
A friend spend 2k/m for western standard Life. Personally gonna try out Cebu for 1 month in June. If I like it more than Thailand will choose it. Otherwise yeah Thailand
Hey man I’m planning a month long trip in the Philippines, would really love to see a video on the nightlife, clubbing, scene. I’m used to Vegas, New York, Bay Area, DC, and Chicago and don’t mind the more “bougie” places but would like to see all the options! I think my research so far has said where your condo is - is where the best clubs are.
I agree. I am an avid dancer and I am less interested in finding streets full of girls and more interested in finding the best actual dance clubs. ideally 80's and 90s style dance music, since most of the modern stuff is crap.
this maybe true for the local employment sector. but the small to medium business owners actually earn a lot and aren't usually accounted for. work from home opportunities are also starting to blow up where off shore companies offer at least 3x the ph minimum wages, they don't do the taxes for the employees tho so it's all unaccounted for.
Hey Evan, Can you expand on the $250 driver thing? I don’t get it. $250 + gas? That’s it? Who provides the car/maintenance/insurance? Can you provide some links / sources so I can plan? Thanks,
I would say a daily rate for a driver in Metro Manila would be P750 or $14 a day. You would provide your own car and gas. $250 a month for a driver is abit low balling it. As well as some of the other rates mentioned.
Great video bro I was born in that hospital in Cebu city, Chong Hua, but I’m planning on moving to the provinces. Cebu, bohol, maybe Samar or negros but not dumaguete lol. My plan is to live with family in Cebu city until I can speak Bisaya then I’m planning on blending in as much as possible. I’m FilAm do you think they’ll be able to tell once I learn the local language? My mom says I won’t pass as a local but I think I can pull it off! What do you think?
Haha sorry to say but I'm with your mom! Even though my Dad was born here and he speaks fluent tagalog, people can still tell he's not a local. Even with me, I look Filipino but people seem to sniff out that I'm not a local. They tend to notice the slight differences in accents, basic mannerisms, and the way you talk.
Reading through the comments is half the fun of a good TH-cam channel. One thing I see immediately is is the opinion of the indigenous filipino and that which you present, very interesting. Even MORE interesting are the comments of all the nuts that missed the INTENT of your video. I appreciate your view points and pretty much agree (as a foreigner). Keep doing your videos, they are sincerely appreciated.
@@TheSavvyExpat your video was great when taken within context. If I moved to Cebu City Cebu, with a $5,000 monthly budget, I would have a much better quality of life than in Houston Texas. The details you gave were options one can consider. I appreciate it very much.
And you obviously don't know how the Top 1% live in the Philippines. Helicopter rides to the office, private Jets to Amanpulo and abroad, Catered Dinner parties by top chefs at their mansions or yatchs, weekend shopping trips abroad, and play Golf at Manila Golf club. On top of that, the 1% always travel with body guards in bullet proof cars. Really rich folk don't mix with the masses as their services are done inhouse for security reasons. I've also seen one rich family with their own chapel in their house with priests holding mass daily just for their family
@@robocop581 Lol the top 1% is 3k a month income. Top 1% America is like 450k a year. Top 1%ers in America can't even afford that lifestyle. You are talking about the top .0001%.
@@robocop581 Dude, those were very few... they are just everywhere because of their influence and access... but as I said.. those people you are saying were fewer than 1％.. if you ask people working for elite private clubs you’ll going to hear the same surnames over and over again because like I said, they were few.
Just a simple question, can I buy some acreage and build a house? in the provinces and how long would it take to build a 2500 sq ft house? My VA and Soc sec pensions would afford me a nice house...
Change my View: the top earners of the Philippines often evade tax because we know the politicians will just steal it. Whats the point? The morally right thing to do is to use the extra money to better the life of your employees (pay them higher, send your maids to college, build better facilities for your workers)
Question...I hope to go to the Phils at the end of the year for about 1 month and a half. Is it possible to find hire a driver for short term? If I go to Baguio for 2 or 3 weeks, do I provide a room for them while we are there?
Usually yes, but they do have housing for drivers. Some prefer to sleep in their car. You need to provide their meals. We ask them to join us during meal times.
Jaime, we went to a wedding in Tagaytay and had a driver with a new Toyota Hilux van pick us up at Manilla Airport and drive us for a week. He charged 6,000 pesos, ($120 US), for the week, plus gas and food. He was going to sleep in his van, but we found a nice room a little way down from our resort for $12 a night, with a pool. He was very happy! His wife was an OFW and they were working on paying the van off so she could come back home. Our Total for our driver, for 1 week, about 15,000 pesos or $300 US. We could have trimmed the bill down to $216 USD by not providing the room for him, but we felt it was the right thing to do. BTW, the bride's family found him and arranged it for us. After that week was up, he drove us back to the airport where we caught a plane to Palawan for the next week. We needed very little taxi service there. It was a very nice two week vacation, sans the plane ride :)
@@jaime8318 The bride's family owns a business in the PIs and one of their friends loaned us their driver for a week provided we pay him. I'm sure there are other ways to find a trustworthy driver, though. Evan will probably know better than me. Sorry I can't help more.
I currently living in Chicago suburb and planing to move to the Philippines BGC area in 2 years. What I found for leasing condos over there is around $1500 for 2bds. So, you mean all the people who live in BGC area are super rich? I’m just curious…. Thank you!
Wow i really thought i can come back to the Philippines and feel rich until I look at the cost of the properties in Manila a comparable house where I live to prices in Manila also cost the same some even more than $1M for a property with measly 200m2 of land!
It looks like the top 1% you are citing refers to salaried workers, not the actual and real top 1% like the Henry Sys, Tans (Lucio or Andrew) Enrique Razon, Yuchencos and the like. Perspective matters: house staff and driver(s) may sound luxurious but that is normal to a Filipino middle income household and upwards. Bottom line, one can live comfortably with $3,000 in the Phil with western amenities and maybe 2 house staff but to say that you will belong to the top 1% is too much of a stretch!
I don’t know what it is in the Philippines, but the top 1% in the US is $11 million. Not a number to sneeze at, but is nothing compared to the Bezo’s, Buffets, Gates…
I totally get what you mean. But I went off of statistics stating that only 1% of Filipinos have $60,000 in the bank. Which is factual. The people you mentioned would be in the 1% of the 1%
@@TheSavvyExpat STATISTICS? CAN YOU SHOW ME OF YOUR LEGIT STATISTICS? A LOT OF PEOPLE DON'T DECLARE THEIR TAXES RIGHT. DON'T ACT LIKE YOU ARE SO SURE OF WHAT YOU'RE SAYING COZ YOU DONT. CAN SHOW ME THAT INFORMATION WHERE ONLY 1% OF FILIPINOS HAVE 60% IN THE BANK?CAN YOU SHOW ME? YOU JUST MIGRATED HERE AND YOU ACTED LIKE YOU KNOW PHILIPPINES TOO WELL. IT ONLY MAKES YOU LOOK ES TOO PD. ALSO, DON'T TRY TO ACT HIGH AND MIGHTY, WE ALL KNOW THAT YOU ARE LIVING OFF YOUR PARENTS' MONEY, "NOT YOUR OWN MONEY" EVERYTHING YOU HAVE, YOU DIDN'T WORK HARD FOR IT, BUT YOUR PARENTS DID. YOU ARE JUST A LAZY BM. A KNOW IT ALL BM.
@@oahuguy3918 I don’t dispute the basis or timeframe of his facts but we need to make it real. Here’s something to consider: Filipinos put their money in real estate (Phil banks have been known to fold up) and in foreign currencies in banks abroad. I suspected that the data was about salaried workers because that group’s income is taxed from source, therefore documented in official data.
🤦🏽♂️ @The Savvy Expert. I was text thinking out loud 😂. I humbly reply, I was just astonished by the video and the medium incomes that were explained. Hell instead of investing in the Dominican Republic i would have invested in another home there! 🙏🏽🙏🏽
How much does it cost to not see rubbish everywhere What about air not tainted with burning plastic smell.? Does it cost extra to not see painful poverty?
My family income is S$20k a month but not in the top 1% in Singapore. I have one bungalow in Australia and one apartment, my apartment in Singapore cost me $500k we do not live like Leonardo DiCaprio.
Hey Savvy Expat, Thanks for the great content as always! Question. I'm currently staying in BGC at a hotel. I'd really like to find a condo to rent for a couple of months. Does anyone have any leads on good places?
Hey Evan, can you cover what the average Filipino might spend on clothing? I got a nasty comment from someone after stating that I felt that most Filipinos are probably not spending $100 on a pair of shoes at the mall.
For sure Alex. Frankly, whoever commented that clearly doesn't know what Filipinos spend on and the kind of budget most of them have... Keep doing you my man.
@@TheSavvyExpat thanks so much Evan! I didn’t mean for my comment to come across as rude; I think it’s especially important to acknowledge the financial realities of living in a country that can be expensive but not always have the wages to match the cost living. I liken this effect to what I imagine it’s like to live in Hawaii.
@@sfrealestatedealmaker6001 no I just don’t keep money in the bank I put it to work elsewhere in various things and places. I figure if I move there I’d only use a portion of my income…
I think your source - Knight Frank is wrong. There are lots and lots of Filipino professionals and entrepreneurs who are very good in hiding their true income.
Your videos are very informative! I am also considering buying a condo in the Philippines for retirement. Can you give me an idea of what the property tax is annually? I realize this probably depends on a lot of factors. But a rough idea of what that expense may look like in BGC/Makati/Ortigas would be great. Thanks
Top 1%? I would expect a monthly income of at least $25,000/-, active or passive. $3k a month? I don't think $5k would allow me to live in style. Social welfare is already 1k a month minimum.
Great video. I think you are on to something. However, $60,000 annually is $5,000 monthly not $3,000 monthly. I’d like to hear you elaborate on your concept of monthly income being different than monthly budget/living expenses.
Hey Justin, if you have $60,000 in the bank, that would put you in the 1% (not annual income.) If make $3,000 per month, that means that 99% of other Filipinos don't make this.
Should be more than 1%. A lot of Filipinos that have successful small to medium sized businesses don't declare income in order to avoid paying income tax. That's a hidden economy that everyone in the Philippines knows about. These successful business owners can't even apply for personal credit cards because they have no income and earnings history. I peg the top income earners in the Philippines at 10% to 15%. I've met humble chicken farm owners that bought 12 million peso condos in cash in Manila while owning several more.
Good input
@@TheSavvyExpat AND YOURS IS BAD OIPINION WHO GOES ON ACTING LIKE YOU KNOW IT ALL, WHEN IN FACT YOU KNOW LITTLE.. IMAGINE CALLING PEOPLE WITH ONLY $60K AS BELONGING TO THE 1%? DO YOU EVEN HAVE AN IDEA HOW LONG WILL YOUR $60K LAST YOU IF YOU LIVE LIKE YOUR SO CALLED 1%? YOU MUST HAVE NEVER WORKED ALL YOUR LIFE. THAT'S HOW A BUM YOU LIVE MAYBE. SO CLUELESS ANDLAZY.
Yup, hiding income makes a difference 😂
I'm thinking of retiring there in the Philippines. Living a simple life isn't too much of a problem for me as my grandmother in Lithuania lives a simple life. Life in the Philippines seems very exciting to me even if there are some quirks that can be annoying
you will unlimited supply of nurses who will wash your ass when you get old :-)
just be kind to people and you will live peacefully in the Philippines .... I saw so many retired US military living their last days in the Philippines
And people wonder why I want to live in the Philippines - it’s a no brainer! Yes, I really do want to live like a king. Awesome vid once again Evan, salamat!
Yeah lol. I've got a few friends that think I'm nuts because I'm planning on quitting my job and moving to SE Asia when I turn 40 in a few years, but I think they're nuts because they spend all their time working to buy 80,000 dollar cars and big houses they never get to enjoy because they're always working. It was an eye opener for me when I realized just sitting back collecting dividends on 1.5-2m would make me a top 1%er in a lot of nice places. Sure my friends will all have nicer cars than I'll ever have but I think I'll be far happier on my 5 minute walk to the beach than they'll be sitting in their fancy car for their 30 minute commute to work.
Interesting video. I'm an American expat living in the Philippines and I've thought about moving the fiance and kids to America. The problem is 3,000 dollars a month with a family of 5 puts you just above the poverty line in America. I was amazed how much America prices have increased in the last year. You know things are expensive when McDonald's pays 15 dollars (750 pesos) per hour and that was in a Midwest city. Poor in America or rich (relatively) in the Philippines.
When people think of high income they think Rolls Royce, Mansion, trips, etc. On the contrary, most high net worth people are quiet millionaires that don't display their wealth. Many still drive Toyotas and eat at home. It's the pretentious credit card group that you will mostly see at Starbucks wearing fashionable clothes drinking 350 peso coffees. Millionaires got rich because they were wise with their money and never forgot their roots. I have a friend who is the son of one of the wealthiest families in the Philippines. He said his Dad was at the store. I couldn't spot him. He pointed him out and his Father was wearing a white kamiseta with no jewelry. Basic down to earth guy that I could mistake as a driver.
Exactly, it's like that book "the millionaire next door"
That is so true unless you are a celebrity or public figure. You will never know.
@@hwong110 haha yep or resemble one
Because poor people are the ones who consume constantly and not know how to generate wealth while the rich know how to invest
Great video!
However, there’s one major factor to also consider here and that tax evasion is pretty much prevalent here in PH, especially among high income professionals (ex: some consultant doctors, lawyers, etc) and many businessmen. False income statements really skews the data but, there’s still no denying that many Filipinos struggle financially due to financial illiteracy and unfortunate upbringings. You might be able to rent with $60k in metro Manila and the surrounding provinces, but 9/10, $60k isn’t enough to buy anything significant especially with regards to real estate.
that's why I always try to do financial comparisons based on the cash in your pocket, versus your income per year.
for example, someone making 100K per year in the USA is going to be paying a combined tax rate of probably close to 40% between their Federal rate, their social security and Medicare rate, and other miscellaneous BS taxes.
making the same money where I live in panama, my tax rate is only 15%, so I have far more cash in my pocket based on the same annual income.
so when I tell people about costs and how far your money will go and how much income you need, I base it all on the actual dollars in your pocket rather than trying to second-guess how much everybody's tax rate is.
U need at least $150k to buy a decent condo in makati/bgc
I see by this video I could live very well in The Philippines on my Retirement , But it's hard to pack up & move to a nation you have never been to before.
@@timmyjones1921 Make some contacts on Facebook. You will arrive with a bunch of phone numbers.
@@DrJohnnyJ you mean tinder
Wow Evan! Your last bunch of videos, including this one, have been incredible! I find them extremely informative and helpful. I am even more excited now about coming to your country. An extremely good life (top 1%) is very affordable there. I can see why you like it there. 👀🕶️
Nailed it 🙌 you can live the good life out here
Instead of monthly income, we normally use the overall net worth value to break down where you stand (by percentage).
Interesting.
Very true and agreed
I admit I should've taken that into account for sure. The point is, 1% of Filipinos have $60,000 in the bank. Then again, there's a lot of fraud here too. Next time, I'll discuss net worth instead.
@@TheSavvyExpat YOU ARE SPREADING MISINFORMATION. I LIKE ALL OF YOUR VIDEOS FOR HOW TRUTHFUL THEY ARE BUT THIS PARTICULAR VIDEO IS A LOAD OF NONSESNE AND DISINFORMATION. DO YOU EVEN KNOW WHAT 1% MEANS? ONLY $60K TOTAL MONEY AND YOU CALL YOURSELF BELONGING TO THE 1%? I DON'T CARE ABOUT YOUR LIFESTYLE. THAT'S NONE OF MY BUSINESS. I AM A TRADER AND I EARN 4 FIGURES A DAY IN DOLLARS, AND I DON'T CONSIDER MYSELF BELONGING TO THE 1%. ALSO, WHY DID YOU BRING UP YOUR LIFESTYLE? NOBODY'S ASKING ABOUT IT. WE ALL KNOW THAT IT'S YOUR PARENTS' MONEY, NOT YOUR OWN MONEY, YOU ARE JUST A LAZY BUM FEELING LIKE YOU HAVE THIS LIFESTYLE. IM NOT AFTER THAT, WHAT IM AFTER IS YOUR MISINFORMATION IN THIS PARTICULAR VIDEO. YOU CALL THOSE WHO HAVE $60K AS BELONGING TO THE 1%? SERIOUSLY? DO YOU EVEN KNOW WHAT YOU'RE TALKING ABOUT? $60K WILL ONLY LAST YOU MONTHS IF YOU GO ON LIVING LIKE YOUR SO-CALLED "1%". EVEN THE CHEAPEST HOUSE ONE CAN GET IN A GATED COMMUNITY ALREADY COST YOU $20K AND YET YOU CALL THOSE WHO HAVE $60K AS PART OF THE 1%? REALLY???? HOW DID YOU COME UP WITH THAT? DO YOU HAVE STATISTICS TO PROVE THAT? DO YOU REALLY THINK MOST FILIPINOS ARE THAT POOR? DMNYOU. HOWIG. NOO. RANT. YOU ARE.
I think it’s interesting to look at both net worth and income range. Let’s be honest, I believe most Americans’ net worth is tied to their primary home’s equity (it’s documented but can’t find the source at the moment), which is illiquid and doesn’t tell us anything about their income or spending habits. On the one hand, you can have a family with $200k equity in their house but with very little income to cover their expenses. On the other hand you can have a surgeon making $400k per year and living a great lifestyle, but is also up to his/her eyeballs in debt. I think the spending habits of the purported 1% income earners in the PH is of more interest to the viewers on this channel because it gives them an idea of what life can be like in this country by comparison.
I'm interested in the cost of living not to live in luxury but to FINALLY get myself in a better financial position. To destress and have enough leisure that I have some freaken perspective and make a positive impact instead of just making an existance.
Absolutely. The goal shouldn't be a life of luxury but rather a life of freedom
Very good video. Personally, I probably wouldn't have all the "extras" because I can and would cook and clean. And a driver? Driving is one of my favorite things to do! So I guess my$3000 would go a long way.
No doubt! If you like to live simply and minimalistically, your $3,000 will get you very far
Would you be interested in preparing an itinerary as well as a guide for a month for a newbie? Would rather not attempt the trip alone.
Good idea. Noted.
Great timing - doing exactly this very soon.
You need to break it down more, do you want to hang out mostly in beach communities , or do do want to combine it with some partying . To break into in a guide is really tough. Remember there is over 7,000 islands . How many do you want to visit, my personal goal i at 100 Islands , i am going to see how many islands i can dive off of into the water , thinking i can hit at least 50 in one day. Would you rather surf or maybe climb mountains . i just finished a 4 day trip and hit 3 waterfalls and about 30 islands. Next week i am driving from Angeles City where i own a condo to furthest point North on Luzon, it will take about 30 hours to get there , plan on hitting a lot of beaches. You asked for help , but which island do you want to start on ?
@@michaelbyrne5469 Thanks for the prompt reply. The goal is not quantity but quality. Looking for the most in nature, snorkeling, free diving, waterfalls, any hiking, Island hopping, and anything natural. Not into crowds, clubbing, or man made structures. Primitive culture and helping people would be enjoyable. Helping the destitute, orphanages and spiritual destinations could be a plus. I know it's a tall list, but I would like to develop some true friendships with humble, gracious people that are unpretentious and deserving of my help. I am not ready for deployment until early next year. I am a 65 yr. old Californian who hasn't traveled since the early 90's.
I think many in the comments are focused on the wrong thing and missed the main point. The biggest take away should be that if your pension, retirement, however you get paid each month is around $3000 you can live very well in the Philippines and still afford the luxuries that are considered reserved for the very wealthy in other countries, like spa days, vacationing at resorts, etc. That was my take away from the video.
Well you could stay at the incredible Shangri La hotel in Mactan Cebu , right now the rooms go for $500 per night US. There are some other 5 star hotels close by that are only $300 per night. $3000 a month you will be ok , but wont be staying in 5 star hotels much. I try to go cheaper and my budget is $6,000 per month US. I spend max $150 a night for my hotel stays , almost, all places decent now are around $75 per night , thats state side border line 3 stars hotels.
You get it Eric.
@@TheSavvyExpat What is your take on BNC Condo pricing?
For a young-looking guy you certainly hit the nail on the head regarding many if not most of the facts in the phils. The depth of your knowledge is amazing. I assume you do a lot of research and thanks for that
Thanks Don!
No, he didn't. He is SPREADING MISINFORMATION. All his VIDEOS are great FOR HOW TRUTHFUL THEY ARE BUT THIS PARTICULAR VIDEO IS A LOAD OF NONSESNE AND DISINFORMATION. DOES HE EVEN KNOW WHAT 1% MEANS? ONLY $60K TOTAL MONEY AND HE CALLS PEOPLE WITH THAT MONEY BELONGING TO THE 1%? DOES YOU EVEN KNOW WHAT HE'S TALKING ABOUT? $60K WILL ONLY LAST YOU MONTHS IF YOU GO ON LIVING LIKE YOUR SO-CALLED "1%". EVEN THE CHEAPEST HOUSE ONE CAN GET IN A GATED COMMUNITY ALREADY COST YOU $20K AND YET YOU CALL THOSE WHO HAVE $60K AS PART OF THE 1%? REALLY???? HOW DID HE COME UP WITH THAT? DOES HE HAVE STATISTICS TO PROVE THAT? DOES HE REALLY THINK MOST FILIPINOS ARE THAT POOR? THIS EXPAT OF 3 YRS IS ACTING LIKE HE KNOWS THE PHIL HIS ENTIRE LIFE. HOWIG NOO RNT.
Young Prince man: This video was very interesting to me. I love this. Most Americans and other foreigners are unaware of the dollar and peso exchange rates. So, they are confused. I believe if many Americans in particular would not be timid and afraid to relocate to the Philippines. They would find their life move up status wise so tremendously. You find many Americans on social security who say they are struggling. If they took a chance and moved to the Philippines, they would be thriving again. Even if they stayed the maximum tourist Visa stay of 36 months. Even better get SRRV retirement Visa. They would feel better and more confident too. I know many of our friends the Filipinos most likely say, why do lots of these Americans and foreigners complain so much? Once again, videos like this just reminds me of my future dreams to retire in the Philippines. I am so glad I lived there before during my US American Air For Security Police days at the old Clark Air Base, Philippines. Thank you so much for this information.
A good cappuccino costs 150 pesos. Same as Australia. That applies generally Western quality costs western price
True
It’s true that the price for coffee equals a days wages of the average local Filipino. If I was paying a day’s wages for a cup of coffee in the States, no way. Usually, the only local Filipino’s at Starbucks are very well off Filipinos, Balikbayans (Filipino’s vacationing from abroad), or visitors from other countries. Balikbayans would also invite family and friends to join them.
Crazy to think just my spending budget in retirement here in Florida is 12K, my HOA along is 1,100 per month. I would be doing exactly what he suggested, driver, luxurious apartment, nice place on the beach, etc etc.
Awesome content. We've been watching you for a while now. We're thinking about taking a trip there this summer. Would love to meet you! Wishing you and your channel the best! Ingat!
I get the impression your family is well within the top 1 percent ✅
Another great video. I'm here in Los Angeles area and $3k per month is just scraping by as even 1 bedroom rental is almost $2k. It seems like $3k per month in The Philippines is a great life.
Man, Los Angeles is so expensive. You already know you'll get more bang for your buck in the Philippines
@@TheSavvyExpat I'm definitely looking forward to the life over there. In the US as you know, it's just work and not too much reward. Also it seems like relationship is hard to come by here.
Right there with you Jerry here in Long Beach with $2500 in rent. For the past year I have watched the real estate in Palm Springs (my retirement 1st choice) soar past what I was wanting to spend. An RV I wanted to buy has increased by 20% and then there is the gas price. The Philippines has been my prime destination for vacations for over 12 years. It's a beautiful country with good people and a very reasonable cost of living. I am looking at it with greater interest as a place to retire and want to try a six-month stint to test the water when the time comes later this year. I have never been there in June or July with the extreme heat and typhoons. There are some good expat Facebook pages that are very active, and I think it would be easy to develop a small circle of friends.
@@ricknolte6846 US is definitely too expensive. I don't think even $10k will take you too far in Los Angeles County. I think The Philippines is a better deal.
Really, indeed especially if you're single. Gosh, what a life!
It’s crazy how just by renting my modest house out in So Cal will afford me an amazing lifestyle there. It’s a paradigm shift.
You said it... Makes all the difference.
Great video dude, im not an expat but I love your video gives me a perspective on what level I need to achieve financially to live the expat lifestyle.
on the heels of what it takes to be a 1 percenter, I would love to see a video that talks about the cost of doing day-to-day things in the philippines.
how much does it cost for a slurpee at 7-eleven?
how much to grab a quick skewer of chicken from a street vendor on your way to the mall?
how much does it cost to park your car or scooter?
how much should you tip the guy who carries your bags at the hotel?
how much should a taxi or trike or some other transportation cost per kilometer that you are traveling?
all of these different prices could be used in conjunction with your opinion of how much cash a person should have in their pocket as walk around money (WAM) in order to make it through a typical day without having to stop at a cash machine or something.
it would also be good for you to give us an idea of what sort of denominations of money we should have.
for example, a 1000 peso note is probably too big of a tip to give to the baggage handler, and he's not going to have any change to give me money back, so I kind of need to have some amount of smaller denominations available.
Excellent idea Dave. noted.
Great video; keep it up and more power to your channel.
Thanks Freddie
I'm a "retired" FilAm based in both Las Vegas and Makati. Yes $3,000/mo in the Philippines is upper income ( top 1%). That is why FilAms should seriously consider retiring there. I budget $5,500/mo when I go to Philippines and that is way more than enough even including some travel to other countries in the region.
Just think about it, $3,000/mo in America puts you below poverty line! So, if your retirement income is just $3,000/mo in the US, MOVE TO THE PHILIPPINES NOW!
I love the Philippines!!! Mabuhay!!!
Now I’m tempted to move my studio operations to the Philippines 😵
An interesting thing I learned from my cousin who’s in the oil business is that helpers are not “uso” in Baguio. I’m sure there is still a demand for them though
It's not common in Baguio because houses/apartments there are usually small, but as you said, there is still a demand for them.
Tuli,
A great video. A real eye opener. Thank you for sharing. I have had a driver in the past. I have a place in the Province and a condo in Manila. I have used the term "hybrid" lifestyle for many years. One never knows when they will need medical care. We found that having household help paid for itself on the houseboy cooking, security, saving at the market by bargaining.
I love the beach and l have been to many resorts. I still like to live a simple life. My wife likes a dressmaker and she also likes massages.
Thanks again for an awesome video.
Stay well.
Totally agree. Having househelp really pays for itself and saves you more in the long run. Thanks for watching James.
Hope you paying your house boy well.
We pay our houseboy, my wife's nephew, about double what other locals pay their household assistants. He is very happy with the house. He stays in our home alone most of the time. We pay the lights, gas, water, phone, cable and internet. All he has to pay is for his own food and transportation. We pay him a great salary and we also pay his SS. We also send frequent BB boxes.
Great video , good job, very informative. Thank you .
Another great video Evan. Good info. Thanks.
Great video my friend. I love watching your video
That's what I like to hear! Thanks for watching Rick.
Your information and advice in your videos are pretty spot on. Like very true that the top 1% are mostly middle class everywhere else. I have met a broad spectrum of expats who either love it or hate it here...weirdly enough the most dissatisfied ones are men who marry women from bars or women who come "looking for the right guy". They always say it's hard meeting "normal middle class Filipinos" 🤷Go figure. Anyway, your channel offers the best tips for expats, I hope more watch your channel and follow your advice so they can enjoy their time here.
Thanks Betsy
there is a TH-camr named Paddy in the Philippines.
he recently put up a couple of 15 to 20 minute walking tour videos of high Street in BGC.
I think you would do a fantastic job with a similar type of video.
I like his videos. I've done some walking tours in the past. Just waiting for my stabilization tri pod to come in
I guess Tim K is a one per-center. Clips of him popped up in this video at least 2-3 times. Go Timmy.💲💲💲💲
nice video, quite informative, but I think what you have just shown is not really the top of the crop percentage, just the one step down from it, the top 5-10%. I'm a local, the lifestyle you have described is what we call the "upper middle-class" of society. The earnings are correct, but they are not the top. There are people here that earn around four thousand dollars or two hundred thousand pesos and ABOVE per month. These people are usually business executives, contractors, large business owners, and other successful professionals.
Can you clarify what the top 1 percent means. You said 60 in the bank, then you compared it to 60k in annual income. You also use the term spending budget to define the 1 percent. Those terms have different implications to wealth. Could you put it in terms of net worth?
I believe that he was comparing 60 in the bank to 60 annual income to show that 60 in the bank is not as much as people imagine, since the average American makes that much every year.
if you can save even 10% of your income every year, by living below your means, then you would have enough in the bank to be a 1 percenter in the Philippines.
The point is $60,000 in the bank is not much since the average American makes that much per year. I use the monthly salary to show that 1% of Filipinos make $3,000 per month
Can you share vlogs from couple of country clubs? Where they are? How much mebership would cost, facilities etc?
There’s a more interesting thing to note. If the price of a good coffee is the same as in the West , then the owner of the coffee shop is making a very fat profit. All his inputs like wages , rent are less but he charges the same. What’s going on?
great video... although i keep staring at your mac desktop wallpaper... you have a link for it? really beautiful...
Great video! Thanks bro.
Thanks Kim!
Can you do a video on good colleges in Makati/BGC for foreigners that speak English only
Are there any areas where animals are treated better?
In Manila and in the province I witnessed people ignoring animals in the streets that we in america would be helping.
In one day I witnessed two dogs in the province with broken legs that people ignored.
Was heart breaking.
I like your videos, salamat for the information 😊
Sure thing Andre
haha in canada i live on about USD $3000 a month and believe me it is not rich! what a difference there
Very big difference indeed!
Very informative videos... Thank you! Can you tell us how much it will cost to open up a small business such as milk tea place or small local hamburger/pizza place either in the city or in the province?
My wife introduced me to some of our ninongs, (not sure how to explain what that is) I guess like sponsors? And they are rich by western standards, they’re hotels and ferry owners, one was a bank president. All very low key, and down to earth you couldn’t look at them to tell.
Smart people.
I wish most rich people would behave that way. Stay low key. I do see many western vloggers in they Philippines showing there daily life.
They seem to just bragging about all the wonderful cafes and restaurants ,condos and cars they drive.
I do wonder what the average Filipinos think 🤔.??
Ninong - Godfather
Ninang - Godmother
@@evelinholmes6401 Well most those vloggers aren't rich, and doing that stuff to make videos is literally their job. Their content wouldn't be interesting if they were making videos like "Hey guys, look at me eat a Big Mac...they're just as bad as they are in America!"
@@evelinholmes6401 Me as an average Filipino think?
As long as they mind their own businesses, don't be a toxic Karen, not an entitled bitch, not causing public disorder, not cutting lines in queue when i see them, fine.
A friend spend 2k/m for western standard Life. Personally gonna try out Cebu for 1 month in June. If I like it more than Thailand will choose it. Otherwise yeah Thailand
Curious to see how that goes. All the best with that
Thats 4 days top of the line hotel stay in Mactan.
Great job. Could please do a vlog on cost of country club membership? Mainly golf.
Sure thing
I know Manila Golf Club membership is in the millions (USA), interestied in St. Elena, Southwoods etc.
100% 👍 Agree...I want to be a part of the 1%....hehe...great lifestyle
Like your style! 💯 #UnleashThePowerWithinSon!
Why don't most foreigners live & go where most 1% top Filipinos go?
You forgot to mention the regional political family dynasties in the Philippines.
This is good content - interesting.
Thanks Jeff
Hey man I’m planning a month long trip in the Philippines, would really love to see a video on the nightlife, clubbing, scene.
I’m used to Vegas, New York, Bay Area, DC, and Chicago and don’t mind the more “bougie” places but would like to see all the options!
I think my research so far has said where your condo is - is where the best clubs are.
Try poblacion makati
th-cam.com/video/84n_xuprZHw/w-d-xo.html
Wrong best night life if your talking about girls is Angeles City its not even close . Manila a distant 2nd. Walking Street is one crazy area.
I agree. I am an avid dancer and I am less interested in finding streets full of girls and more interested in finding the best actual dance clubs.
ideally 80's and 90s style dance music, since most of the modern stuff is crap.
this maybe true for the local employment sector. but the small to medium business owners actually earn a lot and aren't usually accounted for. work from home opportunities are also starting to blow up where off shore companies offer at least 3x the ph minimum wages, they don't do the taxes for the employees tho so it's all unaccounted for.
Hey Evan,
Can you expand on the $250 driver thing?
I don’t get it. $250 + gas? That’s it?
Who provides the car/maintenance/insurance?
Can you provide some links / sources so I can plan?
Thanks,
I would say a daily rate for a driver in Metro Manila would be P750 or $14 a day. You would provide your own car and gas. $250 a month for a driver is abit low balling it. As well as some of the other rates mentioned.
very informative,,, enjoyed it
Really! Great info!!
I must say there really is some great places to visit and I do like the beaches so keep up the good work 🇨🇦👍
Thanks Thomas
There are a lot of extremely wealthy people living in the Philippines. I’m seeing more and more 3-4m peso cars and a lot of 10-50m peso houses.
Great video bro I was born in that hospital in Cebu city, Chong Hua, but I’m planning on moving to the provinces. Cebu, bohol, maybe Samar or negros but not dumaguete lol. My plan is to live with family in Cebu city until I can speak Bisaya then I’m planning on blending in as much as possible. I’m FilAm do you think they’ll be able to tell once I learn the local language? My mom says I won’t pass as a local but I think I can pull it off! What do you think?
Haha sorry to say but I'm with your mom! Even though my Dad was born here and he speaks fluent tagalog, people can still tell he's not a local. Even with me, I look Filipino but people seem to sniff out that I'm not a local. They tend to notice the slight differences in accents, basic mannerisms, and the way you talk.
So If u go there with 4,000 a month would that be good for me and my wife
Definitely
Reading through the comments is half the fun of a good TH-cam channel. One thing I see immediately is is the opinion of the indigenous filipino and that which you present, very interesting.
Even MORE interesting are the comments of all the nuts that missed the INTENT of your video. I appreciate your view points and pretty much agree (as a foreigner). Keep doing your videos, they are sincerely appreciated.
Nice to see someone actually gets it.
@@TheSavvyExpat your video was great when taken within context. If I moved to Cebu City Cebu, with a $5,000 monthly budget, I would have a much better quality of life than in Houston Texas. The details you gave were options one can consider. I appreciate it very much.
And you obviously don't know how the Top 1% live in the Philippines. Helicopter rides to the office, private Jets to Amanpulo and abroad, Catered Dinner parties by top chefs at their mansions or yatchs, weekend shopping trips abroad, and play Golf at Manila Golf club. On top of that, the 1% always travel with body guards in bullet proof cars. Really rich folk don't mix with the masses as their services are done inhouse for security reasons. I've also seen one rich family with their own chapel in their house with priests holding mass daily just for their family
@@robocop581 Lol the top 1% is 3k a month income. Top 1% America is like 450k a year. Top 1%ers in America can't even afford that lifestyle. You are talking about the top .0001%.
@@robocop581 Dude, those were very few... they are just everywhere because of their influence and access... but as I said.. those people you are saying were fewer than 1％.. if you ask people working for elite private clubs you’ll going to hear the same surnames over and over again because like I said, they were few.
Just a simple question, can I buy some acreage and build a house? in the provinces and how long would it take to build a 2500 sq ft house? My VA and Soc sec pensions would afford me a nice house...
Hi Carlo. Foreigners can't own land in the Philippines. if you have a wife you can out it under her name though.
@@TheSavvyExpat Easy enough, I'll find one...
@@DrCarlo You are correct very easy , but the right one not so easy. I own a condo and building 2 house right now.
Change my View: the top earners of the Philippines often evade tax because we know the politicians will just steal it. Whats the point? The morally right thing to do is to use the extra money to better the life of your employees (pay them higher, send your maids to college, build better facilities for your workers)
Question...I hope to go to the Phils at the end of the year for about 1 month and a half. Is it possible to find hire a driver for short term? If I go to Baguio for 2 or 3 weeks, do I provide a room for them while we are there?
Usually yes, but they do have housing for drivers. Some prefer to sleep in their car. You need to provide their meals. We ask them to join us during meal times.
Jaime, we went to a wedding in Tagaytay and had a driver with a new Toyota Hilux van pick us up at Manilla Airport and drive us for a week. He charged 6,000 pesos, ($120 US), for the week, plus gas and food. He was going to sleep in his van, but we found a nice room a little way down from our resort for $12 a night, with a pool. He was very happy! His wife was an OFW and they were working on paying the van off so she could come back home. Our Total for our driver, for 1 week, about 15,000 pesos or $300 US. We could have trimmed the bill down to $216 USD by not providing the room for him, but we felt it was the right thing to do. BTW, the bride's family found him and arranged it for us.
After that week was up, he drove us back to the airport where we caught a plane to Palawan for the next week. We needed very little taxi service there. It was a very nice two week vacation, sans the plane ride :)
@@brad5534 that's awesome, Brad. I think that's quite reasonable. It also gives me some numbers to work with. Thanks!!!
@@brad5534 how did you find your driver?
@@jaime8318 The bride's family owns a business in the PIs and one of their friends loaned us their driver for a week provided we pay him. I'm sure there are other ways to find a trustworthy driver, though. Evan will probably know better than me. Sorry I can't help more.
I currently living in Chicago suburb and planing to move to the Philippines BGC area in 2 years. What I found for leasing condos over there is around $1500 for 2bds. So, you mean all the people who live in BGC area are super rich? I’m just curious….
Thank you!
Not really. The "rich" live in gated subdivisions near makati like forbes park and urdaneta. These gated subdivisions are inside the cbds.
Wow i really thought i can come back to the Philippines and feel rich until I look at the cost of the properties in Manila a comparable house where I live to prices in Manila also cost the same some even more than $1M for a property with measly 200m2 of land!
Great video need to be around a hospital but I like living near a beach and nice inferstruture, can you recommend me a city ,I like boracay,cebu, bgc
It looks like the top 1% you are citing refers to salaried workers, not the actual and real top 1% like the Henry Sys, Tans (Lucio or Andrew) Enrique Razon, Yuchencos and the like. Perspective matters: house staff and driver(s) may sound luxurious but that is normal to a Filipino middle income household and upwards. Bottom line, one can live comfortably with $3,000 in the Phil with western amenities and maybe 2 house staff but to say that you will belong to the top 1% is too much of a stretch!
Not necessarily. By percentages, the people you mentioned may be in the top .001%.
I don’t know what it is in the Philippines, but the top 1% in the US is $11 million. Not a number to sneeze at, but is nothing compared to the Bezo’s, Buffets, Gates…
I totally get what you mean. But I went off of statistics stating that only 1% of Filipinos have $60,000 in the bank. Which is factual. The people you mentioned would be in the 1% of the 1%
@@TheSavvyExpat STATISTICS? CAN YOU SHOW ME OF YOUR LEGIT STATISTICS? A LOT OF PEOPLE DON'T DECLARE THEIR TAXES RIGHT. DON'T ACT LIKE YOU ARE SO SURE OF WHAT YOU'RE SAYING COZ YOU DONT. CAN SHOW ME THAT INFORMATION WHERE ONLY 1% OF FILIPINOS HAVE 60% IN THE BANK?CAN YOU SHOW ME? YOU JUST MIGRATED HERE AND YOU ACTED LIKE YOU KNOW PHILIPPINES TOO WELL. IT ONLY MAKES YOU LOOK ES TOO PD. ALSO, DON'T TRY TO ACT HIGH AND MIGHTY, WE ALL KNOW THAT YOU ARE LIVING OFF YOUR PARENTS' MONEY, "NOT YOUR OWN MONEY" EVERYTHING YOU HAVE, YOU DIDN'T WORK HARD FOR IT, BUT YOUR PARENTS DID. YOU ARE JUST A LAZY BM. A KNOW IT ALL BM.
@@oahuguy3918 I don’t dispute the basis or timeframe of his facts but we need to make it real. Here’s something to consider: Filipinos put their money in real estate (Phil banks have been known to fold up) and in foreign currencies in banks abroad. I suspected that the data was about salaried workers because that group’s income is taxed from source, therefore documented in official data.
One more thing, your video movie snippets crack me up.
😂 that's my favorite part about the videos
You are legit top 1% in the Philippines if you can book 1 week of stay in Amanpulo for a family of five during peak season. Like legit.
I am confused. $60,000 or %3,000 per month? Do you mean $5,000 PER MONTH? Please make this clear.
$60,000 divided by 12 is NOT $3000.
Hi,
I hope you’re well.
Moving to Cebu in December!
CID like to connect with people of good taste and fun.
Recommendations for a guy like me?
Thanks,
I dont have a driver, and my monthly income is five times that. I enjoy driving myself, and no house workers.
Evan, how much did this change (60K or 3K per month), if at all, due to the Pandemic?
I’m 😷 sick. When I became an entrepreneur I was averaging $16,000 per month 🤦🏽♂️
Big baller shot caller!
🤦🏽♂️ @The Savvy Expert. I was text thinking out loud 😂. I humbly reply, I was just astonished by the video and the medium incomes that were explained. Hell instead of investing in the Dominican Republic i would have invested in another home there! 🙏🏽🙏🏽
How much does it cost to not see rubbish everywhere What about air not tainted with burning plastic smell.? Does it cost extra to not see painful poverty?
Cost $3,000 per month. Where? In BGC. Yes, I'm biased
My family income is S$20k a month but not in the top 1% in Singapore. I have one bungalow in Australia and one apartment, my apartment in Singapore cost me $500k we do not live like Leonardo DiCaprio.
how can I get hitch to one of those lovely filipinas?
Hey Savvy Expat, Thanks for the great content as always! Question. I'm currently staying in BGC at a hotel. I'd really like to find a condo to rent for a couple of months. Does anyone have any leads on good places?
Awesome video
could u let us know about the medical or travel insurance price in there ?
Does this top 1% include the businessmen? Or just the salary men?
Businessmen and politicians
What are you doing for the Kingdom??🙏
I'm starting a channel called "The Savvy Servant" we also do missionary work here 🙌
Hey Evan, can you cover what the average Filipino might spend on clothing?
I got a nasty comment from someone after stating that I felt that most Filipinos are probably not spending $100 on a pair of shoes at the mall.
For sure Alex. Frankly, whoever commented that clearly doesn't know what Filipinos spend on and the kind of budget most of them have... Keep doing you my man.
@@TheSavvyExpat thanks so much Evan! I didn’t mean for my comment to come across as rude; I think it’s especially important to acknowledge the financial realities of living in a country that can be expensive but not always have the wages to match the cost living.
I liken this effect to what I imagine it’s like to live in Hawaii.
I can attest to that as i only buy shoes when they're on sale haha
Keep the people around Taal in your prayers
Absolutely Rick
just liked and subscribed ... how old are you ?
17
200K a year here not so hot lol man I think I might be going relocating
We Love your videos 💖
Thanks Von
So where would I be if I had a monthly income of $6-7k USD and $200k in the bank?
You'd be in the South of France haha!
@ Ante Peric You’re spending too much if you only have $200K saved up with a $7K income. 😵
@@sfrealestatedealmaker6001 no I just don’t keep money in the bank I put it to work elsewhere in various things and places. I figure if I move there I’d only use a portion of my income…
@@TheSavvyExpat been there… don’t really like France personally… Croatia far better…
Wow, with that amount I hope you can set aside something to help our poor.
I’m here🇺🇸🇺🇸
3k is very affortable
I think your source - Knight Frank is wrong. There are lots and lots of Filipino professionals and entrepreneurs who are very good in hiding their true income.
I get that. It's hard to say then what 1% is if you can't even identify who is and isn't wealthy here.
Your videos are very informative! I am also considering buying a condo in the Philippines for retirement. Can you give me an idea of what the property tax is annually? I realize this probably depends on a lot of factors. But a rough idea of what that expense may look like in BGC/Makati/Ortigas would be great. Thanks
I believe there is no property tax in the Philippines
5:38 is that- is she the one who am I thinking about rn?!?
So what if I come there with $30,000 a month?
You own the country
@@TheSavvyExpat ok I’ll be President then.
why is it so EXPENSIVE to fly to the phillipines from US?
Top 1%? I would expect a monthly income of at least $25,000/-, active or passive.
$3k a month? I don't think $5k would allow me to live in style.
Social welfare is already 1k a month minimum.
Grest Video savvy . Definitely , one would b smiling , living comfortably with USD 3k ,over der. That itself is a bonus 🙏🙏🙏
So true!
Great video. I think you are on to something. However, $60,000 annually is $5,000 monthly not $3,000 monthly. I’d like to hear you elaborate on your concept of monthly income being different than monthly budget/living expenses.
Hey Justin, if you have $60,000 in the bank, that would put you in the 1% (not annual income.) If make $3,000 per month, that means that 99% of other Filipinos don't make this.
well, i would be in the top 1 % for sure hehe
Sweet!