I'm 42 and bought a condo in Manila as part of my retirement plan. Now I'm wondering if it was a mistake. Honest advice, please.

I'm 42 and bought a condo in Manila as part of my retirement plan. Now I'm wondering if it was a mistake. Honest advice, please.

Hi everyone. I'm a 42-year-old American man who has been living and working in China for about 13 years. A few years ago I bought a 3-bedroom condo in Pasig, Metro Manila. I planned to retire in the Philippines someday. I put almost all of my savings into it, and it's now fully paid off with no mortgage.

The downside is that financially I basically had to start over from scratch. Partly because I've spent most of my adult life working outside the US, I don't have the usual retirement accounts or an investment portfolio. I'm rebuilding my savings now, and I'm hoping that if I keep working and saving until my 60s, I'll have a decent nest egg by then. That's assuming I stay single with no wife or kids, of course, though you never know how life will turn out.

I've visited Manila many times over the years, and I understand most of the criticisms people make. Traffic, pollution, corruption, infrastructure, and the general chaos are real problems. Still, I've never come back from a trip thinking it was awful and that I could never live there. If anything, it was the opposite. I enjoyed my visits and looked forward to making it my home someday.

I genuinely like the Philippines itself, too. English is widely spoken, people are generally friendly and welcoming, there are beautiful beaches and islands to visit, and the rest of Southeast Asia is right next door. I also like bustling, chaotic cities, so the crowds in Manila aren't a dealbreaker for me.

But lately, the more I read about Manila and the Philippines, the more I've started to wonder whether I made the right decision. There's so much negativity about quality of life, cost of living, corruption, infrastructure, and the country's future that I worry I've buried my money and my future in the wrong place.

Right now I'm renting the condo out, but the rental income is poor compared to what I paid for it. I've also learned that a condo isn't a great investment, especially if you don't live in it yourself. I bought mine as a future home, not to make money, but I still question whether it's right to have such a large share of my net worth tied up in a single piece of real estate.

So I'm considering selling it, getting my investment back or making a small profit, and putting that money into a more diversified retirement portfolio.

I've thought about another possibility as well.

Instead of waiting until 60 or 65, I could save a bit more and then move into that condo in my mid-40s. I wouldn't be retiring. I'd look for online work or a remote job so I could cover my living expenses while living in the Philippines.

I'm not trying to get rich or live luxuriously. I don't need fancy cars, expensive restaurants every night, or a glamorous social life. I just want a comfortable life, financial stability, chances to travel, and a place where I can genuinely enjoy living. After working in China for so long, part of me feels ready for a change.

I'm also open to other parts of Southeast Asia or South America. But the Philippines has always appealed to me for the reasons above, and it's the obvious option since I already own a paid-off condo there.

So I'd like to hear from people who actually live in Manila, have retired there, or have been in a similar situation.

Would you keep the condo and keep building savings and investments elsewhere? Would you consider moving there in your 40s and finding a way to earn income remotely? Or would you sell and recover whatever you can, and rethink where to retire altogether?

And for those who truly enjoy life in Metro Manila, what makes it livable for you? In my situation, how would you advise me to prepare, financially and practically, to live there long-term?

I know a lot of this comes down to personal preference and nobody can decide for me. I'm not asking anyone to predict the future or hand me a perfect financial plan. I'm just curious about different perspectives, especially from people with firsthand experience.

Constructive criticism is welcome. I already know that putting almost all my savings into a single condo wasn't a smart move in hindsight, and I've learned from it. I don't want everyone to pile on about how foolish I was. I'd really appreciate practical advice on what to do from here.

Should I stick to the original plan, focus on rebuilding my finances, and stop letting the negativity get to me? Or are there valid reasons to seriously reconsider making Manila my future home?

I'd love to hear your experiences and thoughts.