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Old 25-06-2019, 20:22   #346
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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Hi Windrush,
I am a long time sailor (40yrs) living in Bacolod and was wondering if you know the location of the new marina in Lobo??
It will be at the mouth of the river and boarder the river channel upstream for about 800 feet or so.

We are in the Design and planning stages still. Hope to have it open in spring of 2020

Will post more information as I get it
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Old 26-06-2019, 01:18   #347
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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Really? As far as I remember from the GFC the banks were bailed out with $700 Billion of US Tax payers money! All with no accountability for how it was used.



That was the biggest robbery in history in plain site!
One of the fundamental issues leading to the mortgage collapse was that banks had largely become nothing more than mortgage brokers and many were indeed taking minimal risk. They, and mortgage brokers, were primarily being compensated to originate loans...so thats what they did. It gave them incentive to originate poor quality loans with little downside for them of their ultimate default...they got paid for the origination regardless. If lending their own money they would have had incentive to be more diligent on veting the loans...versus having incentive not to.

Most banks sell the majority of their loans very soon after origination anyway. Its not their problem after they sell it. In effect, creating the same scenario. Selling most of their loan porfolio frees up captial/credit to orignate more loans...and thus the cycle repeats...disbursing bad loans far and wide in the financial system...oops...and we appear to be heading right back down the same path.

Watch "The Big Short" a docu-drama on the mortgage implosion.

https://en.wikipedia.org/wiki/The_Big_Short_(film)
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Old 26-06-2019, 05:00   #348
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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One of the fundamental issues leading to the mortgage collapse was that banks had largely become nothing more than mortgage brokers and many were indeed taking minimal risk. They, and mortgage brokers, were primarily being compensated to originate loans...so thats what they did. It gave them incentive to originate poor quality loans with little downside for them of their ultimate default...they got paid for the origination regardless. If lending their own money they would have had incentive to be more diligent on veting the loans...versus having incentive not to.

Most banks sell the majority of their loans very soon after origination anyway. Its not their problem after they sell it. In effect, creating the same scenario. Selling most of their loan porfolio frees up captial/credit to orignate more loans...and thus the cycle repeats...disbursing bad loans far and wide in the financial system...oops...and we appear to be heading right back down the same path.

Watch "The Big Short" a docu-drama on the mortgage implosion.

https://en.wikipedia.org/wiki/The_Big_Short_(film)
https://www.zerohedge.com/news/2019-...ic-cdos-masses

Yep, the world of derivatives hasn't gone away.
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Old 26-06-2019, 05:10   #349
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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That was the biggest robbery in history in plain site!
Pales in comparison to oil companies, arms merchants and war mongering.
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Old 26-06-2019, 05:19   #350
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Re: Places Where You Can Retire on $200,000 and Feel Rich

Next time it may not be a bail out but a bail in .
There's a organization in Australia that's petitioning the government to change the legislation to stop the possibility.

https://www.change.org/p/stop-bail-i...alians-savings
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Old 26-06-2019, 05:36   #351
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Re: Places Where You Can Retire on $200,000 and Feel Rich

far as the "places" to retire to inexpensively

One of the reasons I got into boating is so if I don't like a place I can just ................ Leave!
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Old 26-06-2019, 06:40   #352
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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far as the "places" to retire to inexpensively

One of the reasons I got into boating is so if I don't like a place I can just ................ Leave!
Just curious.... before you switch to the RV, do you have any plans to cruise outside the USA or close proximity? There’s no comparison that can be made between the eastern US and the Mediterranean. Your $3000 monthly budget will last more than two months over here and the food and drink.... is far better. We’re going to eat right on the water at what would be a five star experience in America tonight for about 16 euros each in Kotor, Montenegro.
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Old 26-06-2019, 06:48   #353
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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That's not my experience, here anyway... in maybe 90% of the places I deal with regularly, the price is the same, whether I'm paying with a CC, with debit card, or with a crumpled-up wad of cash.
If you read the full comment, it depends. Places with lots of impulse purchases are willing to eat the fees because they know people will buy more high margin items with a CC.

You might be the special exception who never does buy more...but you would be very unusual if you truely (not what you think, what you actually do) spend no more.
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Old 26-06-2019, 06:54   #354
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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Just curious.... before you switch to the RV, do you have any plans to cruise outside the USA or close proximity?
I have YEARS of plans to continue cruising on the boat. I'm a long term big picture planning type of guy. Heck I joined this forum 2 years before I had ever even sailed for the first time. I like to know what I'm getting into!
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Old 26-06-2019, 06:54   #355
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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While collateral is important, there are still significant risks to the lender. In particular, the collateral may not be available to seize at the time of default. Additionally, the value of the collateral may be greatly reduced. The collateral is usually worth more to the borrower than to the lender.
Yeah, back in 2008, they lost money on a lot of mortgages because the value was less than the loan after the price drop. Add in foreclosure costs and other ancillary costs...and it's far from zero risk.
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Old 26-06-2019, 06:55   #356
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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I see a lot of comments (all good comments) about financials and some about doctors, etc. I don't however see a lot about adapting to the local way of doing things. Often it is a very different way of doing things and that can be difficult for some people to deal with.
I put that in way at the beginning of the thread. We've met a number of people who moved for the cheap living and are bitter and disappointed.

Go because you love the local culture and savings is a bonus.
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Old 26-06-2019, 07:01   #357
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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Originally Posted by Kenomac View Post
Just curious.... before you switch to the RV, do you have any plans to cruise outside the USA or close proximity? There’s no comparison that can be made between the eastern US and the Mediterranean. Your $3000 monthly budget will last more than two months over here and the food and drink.... is far better. We’re going to eat right on the water at what would be a five star experience in America tonight for about 16 euros each in Kotor, Montenegro.
Is this similar to your $16/day to live on your boat in the med... while ignoring the actual expenses of a high 6 figure boat?

Fact is US and European prices are pretty similar for similar experiences.
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Old 26-06-2019, 07:29   #358
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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If you read the full comment, it depends. Places with lots of impulse purchases are willing to eat the fees because they know people will buy more high margin items with a CC.

You might be the special exception who never does buy more...but you would be very unusual if you truely (not what you think, what you actually do) spend no more.
Might be a Canada/US thing, but again: up here, easily 90+% of the stuff normal people routinely buy is at one price. Food, gas, booze, building supplies, home furnishings, tools. Hardly "impulse" stuff. Sure there's the odd retailer who either refuses CCs or offers a discount for debit or cash, but they're the exceptions.

I never claimed that I buy more/less than if I only paid cash or debit...I haven't really tracked it. I can tell you that I got a points-type type card a couple of years back, and started using it more often, but my habits were set back when I used debit more. We do not carry a balance from month to month, and for quite a while now we've had zero debt. (and the small boat and the 18+ yr old vehicles to prove it ), It's possible to use a creditcard and still be a cheapskate.
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Old 26-06-2019, 09:27   #359
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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They have now got around using taxpayers money,
They can now take it straight out of the deposits you have with the banks,
Win Win for the banks that stuff up,
This is scary, and to me, it seems like legal theft. In the U.S, there is now a law that allows a bank to take up to ten percent of your account if the bank does not get a bailout. They did this in Cyprus and I recall one or two other countries within the past ten years.



It certainly pays to check the rules when going to someplace new.
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Old 26-06-2019, 09:38   #360
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Re: Places Where You Can Retire on $200,000 and Feel Rich

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This is scary, and to me, it seems like legal theft. In the U.S, there is now a law that allows a bank to take up to ten percent of your account if the bank does not get a bailout. They did this in Cyprus and I recall one or two other countries within the past ten years.



It certainly pays to check the rules when going to someplace new.
The G20 meeting in Brisbane is where it changed I believe.

https://www.globalresearch.ca/new-g2...rom%20%251%24s

Although there's meant to be a federal government (Australia)guarantee that covers upto 250k deposits in reality there is no fund setup to cover those deposits. The waters are very murky here. New Zealand has very transparent bail in laws.

Remember when you have money in the bank you are a unsecured lender to that bank.
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