I tried to reply but for some reason the email did not work, so I hope he sees my answer here.
He is on love with a Filipina and loves diving and wants to move to the here to the Philippines.
In the email he mentioned he has about $80K in savings and has heard of banks giving 20% interest on Time Deposits.
I know the local Banks give about 2% in Time Deposits and I heard of an Insurance Company giving 4%.
There have been comments all over and stories of Rural Banks giving up to 14% interest on savings. I have also heard of Rural Banks closing and people losing all their savings. There is depositor insurance but that only is up to 250,000 Php (about $5,000 USD)
Even though the cost of living here is less and depending on the conditions you wish to live can be as cheap as $1000.00 USD or as high as you like. There are some here that live for less than that, but I do not know the conditions and habits of these people.
Remember, if you want to see more English speaking TV, CNN, BBC, and ESPN….. You need cable. If you want internet at home you have to pay a provider and then there is the imported foods you want to eat.
You really need to come here and visit. Live closer to how you want to live here and see the costs. Do not stay in a luxury hotel, eat in the high end restaurants that cater to your background and then think, wow, this is great, I will move here.
You also need to keep in mind; a tourist visa is for 59 days, so every 2 months you need to go to Immigration to renew your visa and every 16 months leave the country for at least a day to get a new entry stamp to start the 16 months over again.
Getting a job with decent wages to live like a foreigner here is very difficult and legally with a tourist visa you cannot get a work permit for a position that can be filled by a Filipino.
I know life in your home country can get difficult, but you do have family and friends there. Think about moving half way around the world, in a strange country and customs and not be able to live.
To the man who emailed me, I wish you all the best and feel free to contact me with any other questions. I will try to answer them as best as I can.