Retirement Planning & Experiences

[Quickstatus]

$50k each pa

If no coffee or alcohol ...
Would want any Renos done before retirement.

Are people downsizing to a smaller residence?

 

[SYD]

If no coffee or alcohol ...

Plenty of coffee and booze. Just don’t retire to PER…

Do the sums. You’ll be surprised. Note that a Super pension is tax free, so the equivalent to something like $65k in non Super (taxable income).

Would want any Renos done before retirement.

Yes. Or see below…

Are people downsizing to a smaller residence?

Not yet, but an excellent way to top up Super!

 

[cove]

If you remember prices 30 years ago then you need to allow for the same thing happening over the next 30 years if you are planing a long retirement. Of course your needs will reduce as you get into the dreaded nineties.

 

[CaptJCool]

If you remember prices 30 years ago then you need to allow for the same thing happening over the next 30 years if you are planing a long retirement. Of course your needs will reduce as you get into the dreaded nineties.

Unless you are one of the 8% who end up in live-in aged care … where your ‘accounting’ income is used to determine your weekly payments

 

[MARTINE]

If no coffee or alcohol ...
Would want any Renos done before retirement.

Are people downsizing to a smaller residence?

We actually upsized but also kept an apartment in the inner city. We wanted to be coastal and only child and partner live close by and always wanted land so we have access to all options till we drop off the perch. We have renovated multiple houses and say never again — but as in medicine — never say never.
Might do up the apartment (not much needed as those massive older style art deco places with big ceilings:sensible layout and gardens are well designed).
…love retirement as have been doing it for at least 20 years - parttime or semiretirement (it always felt like the latter). Never bored as most friends in same boat and near us — massive garden, travel, films etc…and COFFEE

 

[Happy Dude]

I'm early 50's and starting to consider retirement plans, so it's very interesting to read the experiences.

Anyone gone down the path of a cheap cost of living place like Thailand, Indo etc? It sounds appealing.

 

[Pushka]

I'm early 50's and starting to consider retirement plans, so it's very interesting to read the experiences.

Anyone gone down the path of a cheap cost of living place like Thailand, Indo etc? It sounds appealing.

There's plenty of older retired folk in Bali. An excellent lifestyle until you have an urgent medical need. But should we live our lives on that basis? There was a group of men who'd gathered each night near the bar at Sanur. Local Aussies. And then there were older men living the life doing windsurfing and kite surfing.

 

[Cossie]

I'm early 50's and starting to consider retirement plans, so it's very interesting to read the experiences.

Anyone gone down the path of a cheap cost of living place like Thailand, Indo etc? It sounds appealing.

Thailand beach side has been popular for years, Chiang Rai is doing well, I believe, saw an ad for the Philippines recently for a Retirement Visa, this site may help, no affiliation to moi.

Retirement Visa - Guidelines and Requirements of Retirement Visas Worldwide

Portugal does as well, talked to an Australian couple a few years ago in Porto, they had moved from Melbourne as even with downsizing they couldn't get a suitable house/unit. Although, one son lived in Londan and a daughter lived in Paris.... so that would have been factored in.

 

[CaptJCool]

Overseas living is fine while you are mobile and active and healthy

Not sure it’s quite so friendly should one get very ill or need to skeddaddle back to Oz