Retirement in Uncertainty: Staying in the USA or Returning to the Philippines After the 2024 Election

 Our retirement journey has been anything but conventional. After retiring early in 2019, we sold everything and made the journey to start a new chapter in the Philippines, settling in Butuan City, Mindanao. Life there was simple and affordable, but when COVID-19 hit, we found ourselves stuck. For over a year, we navigated pandemic restrictions in a foreign country far from our friends and family. By May 2021, we returned to the USA, hoping to rebuild our lives. We rented a small one-bedroom apartment, but as inflation and the high cost of living quickly caught up with us, we decided to return to
the Philippines in June 2022. Living in Southeast Asia was once again a financial relief, but we weren’t ready to give up on the idea of the American Dream. So, we returned to the U.S. once more under the Biden administration. Initially, things seemed fine. The first couple of months were manageable, but as the months passed, the financial strain began to wear on us. Our savings dwindled quickly, and now we find ourselves facing a critical decision—whether to stay and struggle or return to the Philippines, where life is more affordable. Our fate may hinge on the outcome of the November 2024 election. 

The Harris Presidency: Could it Push Us Out? If Kamala Harris wins, the future for retirees like us feels uncertain. There’s a looming fear that tax increases, especially on retirement accounts and investments, could further strain our already tight budget. While Harris’s platform includes expanding social programs and Medicare, we worry about how these policies might affect us financially. We’ve already felt the squeeze of rising living costs under the Biden administration, and if similar policies continue, we may have no choice but to leave the U.S. again. The promise of a more affordable life in the Philippines feels like a lifeline—where rent, food, and healthcare are far cheaper than what we currently face in the U.S. 

A Trump Presidency: A Second Chance at the American Dream? On the other hand, if Donald Trump is re-elected, there’s a glimmer of hope that his economic policies could ease some of our financial struggles. With his track record of lower taxes and economic deregulation, we believe we could find a way to stay in the U.S. and make our retirement more sustainable. Lower taxes on investments and fewer regulations on retirement accounts would help us stretch our savings further, giving us more financial breathing room. Trump’s promise to restore the American Dream resonates with us. We’ve spent the last few years ping-ponging between two countries, trying to find a place to live comfortably without depleting our savings. If the economic environment under Trump can give us that security, perhaps we wouldn’t have to leave the country again. 

Stay or Go: The Decision Ahead Our experience is a testament to the unpredictable financial landscape retirees face in America today. In the Philippines, our money goes further, and the relaxed lifestyle appeals to us, but the pull of home is strong. We’ve been trying to make it work in the U.S., but the constant stress of making ends meet is taking its toll. The November election feels like a make-or-break moment for us. If the policies continue to inflate our costs, we may find ourselves packing our bags again. But if a change in leadership brings economic relief, we could have a real shot at staying and living out our retirement in the country we always call home. Now, we wait and watch as the political landscape shapes our future once more.