News

Americans Find Retirement’s Cheaper in the Philippines

By Jack Markowitz

Published: Thursday, May 2, 2013, 12:01 a.m.
Updated: Thursday, May 2, 2013

Outsourcing is a fighting word. Whaddaya mean taking work away from Americans and giving it to low-paid foreigners?

But how about “out-retirement” — and maybe to the same place?

For Bruce Silverman there’s no place like the Philippines. He has 500-plus employees in several businesses across the Pacific.

But the islands’ broader charm, he says, is how cheaply you can live there when no longer bringing in paychecks.

“The elderly lose their dignity in America,” says Silverman, 57, by wonderfully clear phone. It was 4:30 p.m. in Pittsburgh, 4:30 a.m. in his tropical backyard. (He works on U.S. time.)

“It’s not fair to have to spend down what you’ve worked a lifetime to earn to afford assisted living,” he said. (Read more »)