Going home for good after 17years abroad
My wife and I have already been discussing and planning to move back home for good sometime next year. We have two kids, currently 5 and 7 years old. Looking back, I can say we've been quite disciplined with our finances over the years. As of now, we are generating around ₱98,000 per month in passive income from our rental properties. Thankfully, we don't have any outstanding mortgage, housing, or car loans since all our properties and assets were purchased or built using cash.
In addition, we already have a solar power system installed at home, which significantly reduces our utility expenses. For our regular recurring costs, we are mostly looking at water bills, association dues, property taxes, and optional contributions or protections such as SSS and insurance policies.
That said, we are not planning to rely solely on the passive income. The ₱98,000 is purely from rentals and doesn't yet include any additional income we may earn from side projects, small businesses, or even regular employment should either of us decide to take on a lighter role in the future. Aware din naman ako na hindi ito absolute guarantee income monthly, for vacancies, disputes and other unforeseen circumstances. But for my specific rental properties, I can say that it is quite stable.
We plan to settle in the Nuvali area and are considering enrolling our children at Don Bosco. Based on our initial estimates, tuition would be around ₱90,000 per child annually, or roughly ₱180,000 for both
I've already laid out most of the numbers and projections on paper and from where I stand, the plan appears workable. Still, I believe it would be wise to seek advice from others who may have gone through a similar transition, as there are always things that can be overlooked when planning a major life move like this.
Finally, we are not looking into a grand style of living, we came from a poor family and we know how to live na sapat sapat lang. Sana meron makapag bigay ng insights. Thank you.