can we afford to live in spain - Page 7

LeeB wrote on Sat Sep 28, 2019 7:17am:

There's a certain amount of logic to the suggestion, BUT, yeah you knew there was a  "but" coming. The missus and I would find it all but psychologically impossible to settle up £20,000 of debt in the UK, jump on a plane and swap that for another dèbt, somewhere north of €230,000. We got...

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... married in 1975, and from then until this very moment, as I'm writing this reply, we have owed money. Its a burden we've carried without complaint for 44 years. We want to see an end to it.

Being absolutely honest, its because of the timing of the purchase of our current home in Essex, that I am still having to work full time. I've had enough. I've had 53 years of full time work and I want to put my feet up, in the sun, by my new swimming pool and relax in the full and certain knowledge that I dont owe a penny/cent to anybody.

As for Brexit, you might want to check out some new legislation passed by Spain in preparation for No-Deal or otherwise. Unlike the twats in Westminster, the Junta in Madrid are actually awake and prepared. Also, we've watched this farce from front row seats since June 2016, and we flatly refuse to put a hold on plans we have been making for the last 15 months while a pack of lying, self serving, juvenile cretins add yet another balls up to the growing list of balls ups.

Whatever happens in Spain cannot possibly be worse than what has been happening to the UK since 1997.

BobL wrote on Thu Feb 15, 2018 5:52pm:

Hi,

We have a home in Australia introduced by a couple who had just retired & moved from Victoria to Sunshine Coast. Qld. Unfortunately they had & retained expensive hobbies & an expensive lifestyle. 6 years later they were both working again and had encashed their pensions. Surely it is ...

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...a matter of living to your income??????!!!!! On the figure stated we would have no problem.

Wasn't it Mr. Macawber (? Spelling & source) about an income of £1 pa?.

Give it a try and, as we do, with 5 properties worldwide, run a very detailed account book. Sandra calls it Bob's Bible.

Best Wishes,

Bob and Sandra

Mojacar Playa and Puerto Lumbreras

sue77 wrote on Mon Jul 6, 2020 12:25pm:

Hi Bob, 

We are hoping to come over before December 31 and get residency. Really concerned about the tax situation regarding pensions. We will both be pensioners in 3 years time. Do you know if the personal allowance has risen at all from 5.500€. We have assets but this would really make it difficult fi...

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...nancially if we are goi g to be taxed so much. 

Regards Sue

JAS wrote on Mon Jul 6, 2020 1:28pm:

Hi Sue

Hope you don't mind me saying but if you are really serious about coming to live over here before brexit I think it would be wise to consult a gestor. It may prove to be money well spent as Spain is a legal minefield. Most people on this forum are lovely helpful folk but my advise is consult the ...

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...experts on such an important matter.

Good luck and hope that you get your dream.

sue77 wrote on Mon Jul 6, 2020 10:14pm:

Hi Jas, 

Was thinking the same thing, but was hoping others may have had personal experience that they could share. My husband and I have been coming over to Turre for the past 3 years and know it is where we want to be. I just hope the tax system does not prevent us from doing this. 

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Regards 

Sue

JAS wrote on Tue Jul 7, 2020 10:13am:

Hi again Sue

We came over 8 years ago, I was 57 and my husband 62 we received very sound advise from Gestor Salvador on Mojacar Playa. 

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Wishing you all the best.

sue77 wrote on Tue Jul 7, 2020 12:30pm:

Hi Jas, 

Would you know if you pay tax on a UK state pension. 

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Regards 

Sue

JAS wrote on Tue Jul 7, 2020 1:54pm:

It will depend on what your total income is. I haven't received my state pension yet so things will change when I get it. It really will be worth you speaking to someone because everyones circumstances differ eg state pension private pensions assets savings etc etc. 

Fresh wrote on Wed Oct 16, 2019 12:17am:

I love this discussion. I too want to retire to Mojacar (as soon as I can) but am well paid in the UK and haven’t made adequate pension provision so need to work for a bit longer.  I suspect that there are many people in my position.  Being honest, the sorts of sums that people are ta...

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...lking about are achievable right now. Every day is a balance between “can I afford to retire yet” and “if I work for a bit longer, I’ll have more to retire on”. I doubt that I am alone in this.  The health (risk, I am so far healthy) -v- income debate.  At the moment, my partner and I have decided to spend increasing periods of time in Mojacar, more and more each year, pending retirement,  It is difficult to know when to make the ‘jump’.  This forum is reassuring in that the base income it is suggested we need is low: less reason to put it off.  Thanks for your comments