Thinking of retiring abroad for economic reasons?

Well actually Meddler her pension which depending on exchange is in fact around $35K is for someone at a senior (Scottish Executive) level but who took retirement at 53. You may be thinking of someone at a senior level retiring at 65. As for me, I get $6k/year in CPP and will get another $6k/year or so when I hit 65, so no, pensions do not play a large part in my personal income.

I think that is enough said about my income however. Now why don't you all tell me how much you earn without working. LOL

"Now why don't you all tell me how much you earn without working. LOL"

Because, after income taxes, ours might not compare as well with yours, being before and without income taxes? LOLOLOL!

Because declaring specific figures on a public internet forum that preserves one's foolishness in perpetuity, particularly when that one crows about not paying the taxman his due, strikes me as exceedingly imprudent.

So what you are saying living is that you wouldn't say how much you earn because you don't pay the taxman his due. Is that what you actually meant to say? It is certainly what you seem to have written.

At least your sentence made sense, unlike Meddlers which is in some kind of broken English or at least in code.

Resurgam -

You have an income of $100,000 per annum on which you don't pay taxes?
You get all this from letting a condo (or group of condos?) which is worth circa $500,000?
The 'work' involved in running these condos takes on average 1 day per week?
You think $100 a per day is budget travel?

Please correct me if I'm wrong. (I have a mensa-level IQ, an English degree, a business qualification and a book of poems under my belt, but the above is what I comprehend from your comments on this thread.)

Way to misinterpret and/or twist what others write #54.

In his vocabulary, 'twister' could come as a compliment.

Had you said 'Too clever by half!', he'd be hugging himself.

Since this thread has gone 'wild'...I'll take the bait and get it back on topic. Why am I considering retiring abroad for economic reasons?
1. My retirement investments have tanked...the only reasonable option is to hang on to what I've got left and wait patiently without dipping into my pitiful, hard earned investment funds.
2. My pension is hanging on by a thread...presently, only 17% receive lifetime pensions with their jobs (in the USA). I'm fortunate that I can receive a pension, but it won't go far in the states. Until I can collect Social Security,( I want to take an early retirement) my pension can only be stretched so far.
3. My big, old remodeled farmhouse is a huge retirement investment, or should I say, WAS a huge retirement investment. Although I own it, without a mortgage...trying to sell it now, for the price I want, is impossible. Again, I have to be patient and wait out these hard times.
4. My December electric bill was $375 and January is even colder. We've insulated it, use a wood stove in the basement, and shut off the heat to the unused rooms. I'd like to rent it, let someone else pay the winter heating bills, and move to a tropical winter retreat from the cold and the expense.
5. I'm up for the challenge to live a simple, more carefree lifestyle.We've done it several times before. I can't take an early retirement and continue to live in the states, no matter how conservative I am on a fixed income.
6. I've tried to reduce and simplify my life, but it's difficult to sell my antiques and lifetime of collections, now. We're all in the same boat. So, I'll store everything in my garage, rent my house, and move to a cheaper country until people are more willing to part with their money for wants instead of needs.
I know that there have to be other soon-to-be retirees in the same boat. What are your reasons for considering retiring abroad for economic reasons?

There are certain assumptions and presumptions you are making in what you have written gypsy.

For example, I am sure you have some figure in mind that you think it takes to live in the US in reasonable comfort. What is that number even if you don't have it? I ask because I am sure the number you think it is, is in fact higher than a number on which it is possible to live quite comfortably in the US.

I can tell you of a place in S. California where it is quite possible to buy a reasonably comfortable 2 bedroom home in a golf complex for under $25k US. On top of that you would need about $6k a year for fees and maybe another $4k a year in heating/cooling/electric/phone, etc. So $25k up front and $10k a year to keep the place.

But really, I don't think that is your major problem. There are a couple of things in what you have written that point to your reall basic issue. One you say you can't get the price you want for your farmhouse and two you talk about your antiques etc. What I'd say these things indicate to me is that your point #5 is in fact not true.

You may THINK you are up for a simpler life but in fact your actions do not bear out your words.

You could sell your farmhouse tomorrow if you priced it right. The market decides what it is worth, not what you want for it. You could downsize as I have indicated above and need an income of around $30k a year to continue living in the USA in a warm winter climate (summers are damn hot admittedly).

Now if the investments you have, the early pension you can get and the income of the capital remaining from the sale of your property after buying your new little place will earn even near $30k a year then you can retire in the USA right now. But I think it will not be in the manner to which you want to CONTINUE to be accustomed.

You are talking about hanging on to your property in the US while AT THE SAME TIME trying to manage to live somewhere warm for the winter. That isn't reducing and simplifying life gypsy. That's complicating life.

Anyone who has to worry about their electricity bill is not financially secure, and is unlikely to become so by moving to another country!