Posted on 09/06/2013 7:55:56 PM PDT by 2ndDivisionVet
Many of us still active in the profession have not hung up the sweaty gloves to dry these continue to soak in the sweat from our daily grind. For many, it is the need to still build up further the security blanket (assuming things have gone as far as building up the security blanket to start with); for others, it is still the sheer joy of working at a profession that you have grown to love. As they say, if you find pure enjoyment in what you do, it isn’t work at all. It is the latter that makes working fun. I guess for me, I burn both ends of the candle for these two reasons.
Still, the prospect of retirement is a reality that we all must face at one point in our life. It may be full and complete retirement, or it may be partial, a slowing down that, I think, is a more acceptable option for many, including me. I cannot think of complete and absolute retirement, barring dire physical circumstances, of course. Even when we scrapped our Saturday work days, more for the benefit of our employees, opting to optimize the work schedule to fit into five full days instead, I found myself dressing up for work on late Saturday mornings, finding the peace and quiet of an empty office more conducive to planning and strategizing. That I have not found reasons to slow down points to only one thing: the gloves are here to stay for a long while.
But for most of the people in my age bracket, retirement is a prospect that they have to deal with now. This was an area that our government did not give much thought to in the past, until the ’90s when the administration created the Philippine Retirement Authority (PRA). Yes, much has been accomplished from ground zero where we were before the government thought of institutionalizing retirement in the Philippines, but we still have a long way to go. Consider for example that we really do not have retirement communities to speak of yet, though we have retirement homes in strategic cities and provinces already. It is a business in its nascent stage, and hopefully it can emerge into a full industry soon.
What makes a retirement community? Apart from the retirement homes, it incorporates a lifestyle that is suited for retirees, which includes a serene and peaceful environment, restaurants and entertainment. Most important of all, it includes health care services and the presence of a full-fledged tertiary hospital. Part of the health care services is efficient and well-run nursing homes.
In the United States, nursing homes are a-plenty, and many Filipinos residing there have opted to make profitable business out of owning and running nursing homes for the elderly. Not so here. By the count of the Retirement & Healthcare Coalition, there are about 50 nursing homes registered in the country. These are privately-owned houses converted into nursing homes, all of them between four to eight bedroom types, and these are located in Tagaytay, Manila, Cebu and Iloilo.
Recently, the Bureau of Immigration has stepped in to make retirement in the Philippines a more convenient option for foreigners. Where before the short term visas allowed prospective retirees to stay and test the waters for 60 days only, there is now the long-stay visa that allows them to live out the harsh winter in their country or to test-live in the Philippines for six months, renewable for another six months. If they wish for a longer period, this can still be further extended for another six months for a total period of 18 months. Through the Special Resident Retirement Visa (SRRV) provided by the Philippine Retirement Authority (PRA), foreign retirees can enjoy a life-long stay in the country. With this kind of program, the Philippines is the only country in Southeast Asia with an entire portfolio on retirement benefits.
The Retirement & Healthcare Coalition, founded in 2007 by American, Korean, Japanese and European chambers of commerce, had for its goal the promotion of the Philippines as a premier retirement and healthcare destination. They have partnered with the PRA and the Department of Tourism to work towards this goal. They are currently working with public private partnerships to bring up the quality of the local nursing homes; they are not actually developing nursing homes, they are just there to assist local nursing homes in upgrading their systems. Our biggest competitor in the region in this sector, Thailand, already has thriving retirement communities with full amenities and professionally-run nursing homes. Yes, the coalition says we are competitive as far as the individual retirement market is concerned for those retirees who are still semi-active. Retirement & Healthcare Coalition executive director Mark Daubenbuchel calls them the “go-go” retirees. For the nursing home market, however (or the “no-gos” as Marc says), we are still a long way off.
This is sad because, as Marc pointed out, we have the perfect market niche for nursing homes. With about 300,000 unemployed Filipino graduates of nursing, we could easily make this a viable sector because we have the necessary medical support system. Add to this fact our undeniable edge of general proficiency in the English language, a culture that is closer to the Western culture than any of our Asian neighbors, our in-born hospitable trait as a people and our always ready smile. The convergence of all these factors create a synergy that is a win-win formula, if we can only get our act together fast before the rest of our neighbors in the region eclipse us again.
The coalition is looking at positioning the Philippines in the market niche for nursing homes, and we must work hand in hand with them to make this possible. Marc tells us that at present, most of the holders of SSRV are Chinese and Taiwanese who are younger than the 55-60 age bracket. Many also come from the United States, but most of these are the “no-gos” (they need assistance) because the insurance system there right now is perceived as weak, and they are looking to permanently relocate here.
The Philippine Retirement & Health Care Summit, an annual event jointly undertaken with the coalition will be held in March 2014. I hope concrete and tangible developments will come out of this.
That’s what exactly what I will be doing - either the Phils or Chiang Mai in Thailand.
Leaning towards the Phils, but health care is much better in Thailand.
Whoa ... over here, Al
ping
Don’t know about retirement but Olongapo City was quite the liberty port back in the late 60’s and early 70’s.
If our country keeps going the way it is, I’m probably retiring there too. I’ve got a while to go before I get to that point, but my tentative plan is to try to get my own little island there, because there are plenty that are pretty affordable. For what you’d pay for a single family home in some parts of the US, you can get a 40 acre tropical island all to yourself that can probably provide most of your needs.
I don’t know about you guys, but laying around in the sun, raising a few chickens and goats, and fetching my lobster traps sounds like a pretty sweet retirement to me.
Philippines, and have China 100+ miles from you as they just put themselves there claiming that for their property and there they are. No, thanks.
Oh Yes! Cubi Point! Even the clubs on base were good.
What mean you say?
Sorry - I have seen your posts and admire what you have posted in the past. What are you saying here?
Olongapo is now a duty free zone with a theme park, casino and duty free stores. Lots of retirees live around Barrio Berratta and Subic City. I was in Makati a week ago, retire there a condo is about $40k US but you can live within walking distance of a IHop, Starbucks and awesome restaurants and clubs. I have been told Angeles City has a lot of Foreigners living there. There is also a VA clinic in Quezon City. As for medical care, they have some great new hospitals. My wife is a dialysis nurse, we saw a clinic advertise treatment for pesos 1,800 about $40.
Stuck it in search and this is the first one I clicked on - it will tell you of the strife that has started there. I’ll stay in my own country where I am a citizen instead a foreign country who wouldn’t care diddly what happened to me in a time of trouble. Citizens get more protection than a stranger.
I’ve heard some people want to retire in the Phillipines because of the girls.
Hard to believe, to American feminists, but I’ve heard that Filipino women treat their men in a certain way, and that it’s just a different type of relationship with them, compared to some modern American women.
IIRC. aliens living in the Philippines have no gun rights. Your little island kingdom means diddly to the gubmint gunboat crew that shows up demanding taxes due.
Or to the pirate crew that shows up demanding baksheesh.
Come on down to the Missouri Ozarks. Low taxes, plenty of turkey, deer, great fishing, low cost of living.
Did I mention low taxes ?
I’m staying in Texas, would never live in a foreign country. Not giving up my guns to live on a beach with China angry about 150 miles away and whatever other dangers are there.
There is a psychological tendency that when a situation is bad, the person thinks another place must be/has to be better, so they leave to go to another place. Every place has its dangers, and I figure Texas is the best place for me overall. I have traveled all over the world, and I’ve seen the best and the worst, and none is better than right here. Travel is highly overrated.
I’m married to a Filipina. I haven’t gone there in ten years - too dangerous for White guys in many, many areas.
“Olongapo is now a duty free zone with a theme park, casino and duty free stores. Lots of retirees live around Barrio Berratta and Subic City. I was in Makati a week ago, retire there a condo is about $40k US but you can live within walking distance of a IHop, Starbucks and awesome restaurants and clubs. I have been told Angeles City has a lot of Foreigners living there. There is also a VA clinic in Quezon City. As for medical care, they have some great new hospitals. My wife is a dialysis nurse, we saw a clinic advertise treatment for pesos 1,800 about $40.”
You mean there is no Cherry Club or Fiesta 66 club anymore.
Looks like inflation has really taken a toll on the peso. When I was there in 72 the rate was 8 to 9 pesos per dollar.
Yeah, what you said.
I am not moving anymore. Texas is where I am and Texas is where I will make my stand.
We have missiles and bombers from Russia, China, the Ukraine, North Korea, Iran, Pakistan, and elsewhere aimed at us. How safe is that?
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