Planning to move abroad and live off interest

TCA

I'd certainly say rent before you buy. And rent for 6 months at least. As was said above, moving to a new country is a huge step and the last thing you want is to be saddled with a property you can't sell if you decide it's not for you. On the money side of things, first you should maybe try working out how much you'll need to live on per month/per year in your new location and then work out how or if you can achieve that. Guaranteed it'll be more than you think.

Briggo

Hi All,

Loads to think about indeed! We would be going to somewhere that a few friends have moved to already so we would not be totally 'on our own' but do appreciate that living and visiting are two very different things!

atush

And your friends may not be telling the truth about costs. If you add in everything I find it works out 50-100% more than you think ;-)

I have experience in moving to 2 new countries, and buying 2 holiday homes lol.

mike88

For the last 8 years I have spent 4 months of the year in Spain. It has been good but be warned there are very many people who have found themselves marooned there because they cannot afford to return to the UK because their once lovely property cannot sell and its valus has fallen dramatically. There are even substantial numbers living in shanty towns on campsites who for one reason and another have fallen on hard times and are struggling.

I have also met several people who have received inappropriate financial advice from "professional" mainly ex British ex pats and that has added to their misery. Living in Spain is not as cheap as many think. And if you don't speak the language fluently don't bother as you will be bombarded by Bills from their bureacracy (and scammers) which you will not be able to understand. If you don't speak the lingo you will need the support of other Brits so don't be so dismissive of wanting to live amongst the Spanish in non ex pat areas. However I see from a later post that you will be among friends so that is good.

Also if you buy a property there - and there are many available at a cheap price because so many are trying to escape - remember that once bought you will have little chance of finding a buyer if you want to move on. Be careful where you locate - some areas have been infiltrated by criminals from Eastern Europe and are unsafe. There is very high crime in some areas mainly from Eastern Europe immigrants.

Rent before you buy is very good advice. And the weather is not as good as you may think as in the winter, wherever you go, its cold.

If you have plenty of money and can afford to live in a nice area Spain can be a wonderful place but there are downsides especially for those who try to do it on the cheap.

edinburgher

I have serious negative financial information which is some 15 pages. If I post it here I will get banned. I have speaking to thousands of intelligent people for past 1 year and they have given very important financial and world information which says sell and sell.

thousands of people and you've only got 15 pages of information? Well I'm worried

Cook_County

1000GBL wrote: »

If you are planning to earn £250,000 from investing into stock markets, real estate, gold & silver, hedge funds, mutual funds then I think you are wrong.

I have serious negative financial information which is some 15 pages. If I post it here I will get banned. I have speaking to thousands of intelligent people for past 1 year and they have given very important financial and world information which says sell and sell.

When the future in uncertain do not go for long-term investment. Invest for short term. I mean daily trading profits. Buy today and sell it after 2 or 10 days. In Stocks, Forex and gold there is daily buying and selling.

Which country gives you these returns?

gallygirl

edinburgher wrote: »

thousands of people and you've only got 15 pages of information? Well I'm worried

very small font

atush

I hate smal fonts. gets me all squinty.

Briggo

Hi All,

Thanks so much for all the info - plenty to think about for a while! Definitely wait and see what happens with the Spanish economy for the immediate future me thinks!