Recently on national papers, the government exposed its plan to expand its tourism efforts in hopes of increasing the countries foreign remittance. In particular, they will increase their services for foreign retirees. It has been worldwide that retirees in the country are allowed to own full properties, established their business and tax-less living, means even the pension they are receiving from their home country are exclusive of the government tax.
For those retirees who are above the age of 60, the choice of hiring their own private nurse or assistants, will only cost them half of the original wage of as long as they will be getting their assistants or nurse on government operated agencies.
This move of the government is due to the fact that the country, as of the moment, is suffering from a rice crisis with tourist numbers and hopeful retirements from foreign visitors declined.
The current monetary exchange is Php41.64 = US$1. So if you are living in the US or other country, you're dollar will take you more than you can use it in your country. The low cost of living, low cost of food and general amenities and needs are the best deals you will ever get if ever you retire in the Philippines. A days food, from breakfast to dinner in a descent restaurant of fastfood will only cost you 5-10$. Housing rents only cost 50-100$ for a 2-room house/apartment for a month. Transportation is just Php7.50, so your 1$ can take you far more than you can imagine. Not to mention the unlimited access to the countries great landmarks and tourist spots, international pubs and destinations.
Philippines is a country where its people treasure foreigners a lot. They respect it more than other Filipinos at times. I'm telling you, this might be a good impression for foreigners, but more of a bad thing for local values.
Your decision for an early retirement will greatly affect your life, so do it wisely.