In the Philippines, you can actually be arrested if you don't help your parents and they need it.
Many people work and live outside their SSS system and even if you pay in you collect a very small check. My friend there gets 60 bucks a month. Some seniors get a small amount thats NOT SSS, and you don't get both.
They have mandatory senior discounts and exception from 12% Sales tax which is typically included in the price when you buy things, BUT the required paperwork is a real pain in the Ass.
Basically, you depend on your children to aid you.
A family with five members need at least PhP 13,873 per month to meet their minimum basic food and non-food needs in 2023. Thats 240 bucks. Thats referring to housing... Minimum wage is about 140 a month for most of the country. Most people earn that or very close to that, many earn less than the minimum.
Saving grace in The Philippines is the fact that few pay house payments. They live in shacks or houses that have been in the family. AND OFW's sending money home.
Why all of this info? They are literally trying to turn the USA into a similar economic model.
Here in the west it mostly goes from senior down because some seniors become quite wealthy. If you pay off real estate, have a pension or 2, have 401k, or 403b, do an IRA and have SS, and other savings too...
In my case, I have SS and modest non-fiat currency, and we have a house abroad free and clear. Here we are now renters since I sold off my property to move abroad for 3 years and build.
In the Philippines, you can actually be arrested if you don't help your parents and they need it.
Many people work and live outside their SSS system and even if you pay in you collect a very small check. My friend there gets 60 bucks a month. Some seniors get a small amount thats NOT SSS, and you don't get both.
They have mandatory senior discounts and exception from 12% Sales tax which is typically included in the price when you buy things, BUT the required paperwork is a real pain in the Ass.
Basically, you depend on your children to aid you.
A family with five members need at least PhP 13,873 per month to meet their minimum basic food and non-food needs in 2023. Thats 240 bucks. Thats referring to housing... Minimum wage is about 140 a month for most of the country. Most people earn that or very close to that, many earn less than the minimum.
Saving grace in The Philippines is the fact that few pay house payments. They live in shacks or houses that have been in the family. AND OFW's sending money home.
Why all of this info? They are literally trying to turn the USA into a similar economic model.
Yes. In Asia, most children would help their parents. I didn't know that in Philippines, you could be arrested if you don't help.
Thanks for the info.
The 10 commandments talk about honor your parents so even God wants us to do that.
Here in the west it mostly goes from senior down because some seniors become quite wealthy. If you pay off real estate, have a pension or 2, have 401k, or 403b, do an IRA and have SS, and other savings too...
In my case, I have SS and modest non-fiat currency, and we have a house abroad free and clear. Here we are now renters since I sold off my property to move abroad for 3 years and build.
It sure didn't sound like Walz mom is wealthy but yes, here in the west, the elderly are the wealthy ones.