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How you can afford to retire abroad
Topic Started: 30 Aug 2014, 10:49 PM (1,038 Views)
Poontang
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Quote:
 
The new wave of retiree baby-boomer emigration is already showing up in the statistics – the number of age pensions paid to Australians living overseas increased by 30 per cent between 2007 and 2012. As the boomers age, the ranks of Australia’s retired will explode. The number of Australians over 65 will almost triple within the next 25 years to 8 million.




http://www.afr.com/p/personal_finance/smart_money/how_you_can_afford_to_retire_abroad_xUwFVIU0tq6SE5yleDTWkM
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Will
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Many people aren't aware of it, but there is only a fairly limited set of circumstances that allow the aged pension (or any other form of commonwealth benefit) to be paid while living overseas.

Generally if an Australian is living overseas on a permanent basis, they are not eligible for the aged pension.

The goes against what the vast majority of people think, their often shocked to find this to be the case (I usually need to prove it to them by opening up the appropriate section of the centrelink website).
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goldbug
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I would never consider it, not at a time in history like this. It's a cheap arse practice for the most part. Go to some third world shithole where your retirment savings buys 4× what it can here and then live out your life surrounded by poverty stricken people speaking an incomprehensible language who only tolerate you because of the dollars in your pocket.

Here we know the lay of the land, the politics and we know that ethnic riots are unlikely to break out next month or a coup replace the government. A lot of asian countries can't guarantee this. And why would you move anywhere else than asia? England? Europe? Too expensive and the places are multi cultural timebombs anyway. And already in depression.

Leaving Australia now would be like like moving to Singapore to retire in 1935. It will all seem lovely until the day the landing craft unload their troops outside your bungalow. Yes I know, I'm being over the top again, but look around, this isn't 1985 anymore. These are the unpredictable years. Wait them out in relative safety I say.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Bardon
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I have played around with overseas retirement a bit. Drivers are taxation, culture, climate and adventure. Some locations worth looking at from an Australian perspective include:

- Malta, relatively low cost of living, steeped in history and well located to Europe.
- Chang Mai, live like a king.
- Ecuador, cheap cost of living, great real estate, free health care and a good base for jungle exploring.
Edited by Bardon, 31 Aug 2014, 10:30 AM.
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szokolay
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Ecuador? You're not serious are you Bardon? My brother spent some time there, up in quito. The locals carry handguns and aren't afraid to use them. You don't take bus trips into the jungle either because the gangs stop the buses, loot then, let the locals walk home but take the foreign tourists into the bush and they are never seen from again.

It might be a nice spot on a guided tour but you wouldn't want to make a home there I can assure you. I doesn't even have it's own currency, a true third world nation if ever there was one.

http://ecuador-travel.net/information.safety.htm
With the economy worsening in the last years, more Ecuadorians turn to crime to make ends meet and the tourist is often their main target.
Guayaquil has a serious crime problem with violent crimes, like assault with weapons and also rape and murder are not uncommon. There exist also lots of petty crimes, like car robbery, pick-pocketing, break and entering and so on. Because of the crime increases, a few years ago it was put under state of emergency with military checks and curfew but those measures were lifted later on without much results. Avoid the poor areas of the city like El Guasmo completely and be watchful in the rest of the city.

The same with lesser degrees also applies to other bigger towns of the coast, like Manta, Esmeraldas, Babahoyo, Santo Domingo, Machala and others.

Edited by szokolay, 31 Aug 2014, 09:49 PM.
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Blondie girl
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Poontang
30 Aug 2014, 10:49 PM
We may be seriously considering a complete sea change when my children are independent adults.

Have to look into the finncial perks & disadvantages of different countries do differing rules.. there's 1 place we wish to go to.

Still have to look into it carefully.
Edited by Blondie girl, 31 Aug 2014, 11:47 PM.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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Bardon
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szokolay
31 Aug 2014, 09:45 PM
Ecuador? You're not serious are you Bardon? My brother spent some time there, up in quito. The locals carry handguns and aren't afraid to use them. You don't take bus trips into the jungle either because the gangs stop the buses, loot then, let the locals walk home but take the foreign tourists into the bush and they are never seen from again.

It might be a nice spot on a guided tour but you wouldn't want to make a home there I can assure you. I doesn't even have it's own currency, a true third world nation if ever there was one.

Yes I am serious about Ecuador. It may have some stigma and danger attached to it but it has far more upside, personally speaking I have always found that you can do a lot to prevent yourself being caught up in violent crime. Ecuador has such a rich and diverse history and culture and stunning architecture and equally stunning real estate it is definitely on my consideration list. It also has a thriving expat community as well.

http://internationalliving.com/2014/08/loja-ecuador-a-city-that-will-surprise-you/#more-582539
Edited by Bardon, 1 Sep 2014, 11:23 AM.
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Massive
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why eye developing countries ?

southern france, spain, portugal or all of eastern europe are fantastic places and dirt cheap
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stinkbug
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Personally I'd rather live more modestly in Australia but plan to spend several months holidaying overseas each year.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Bardon
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Massive
1 Sep 2014, 01:32 PM
why eye developing countries ?

southern france, spain, portugal or all of eastern europe are fantastic places and dirt cheap
Yes no worries with that, that was my Maltese option, but Ecuador is still my favourite at the moment.
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