RETIREMENT

Back to the subject although economics is closely related to retirement. Historically the concept of ‘retirement’ has only existed in British society since 1908 when the pension age was set at 70 for a select few and was very little. Countries like Spain did not have state pensions until relatively recently. State pensions were made universal by the Atlee government along with other social measures such as the NHS. My ancestors all worked until they died, such were the times.

Effectively the retirement age in Britain is creeping back towards that situation and many people in receipt of pensions effectively have to keep working to pay their bills. It’s not a lifestyle choice. As Britain becomes poorer post Brexit that situation will increase.

Retirement is very expensive. Pensions never keep pace with costs despite inflation rises. It’s impossible to budget for a successful retirement unless you have a substantial capital portfolio that you never touch.

Retirement to another country is especially difficult financially due to the constant fluctuating exchange rate, the costs of travelling to visit family elsewhere and medical expenses. If you think you have enough double it in your mind and you may be accurate.

Retirement is similar to renovating an old house. No matter how you try to assess the costs involved your will always need more than you think.

Mariedave QE is another name for devaluation ...any country that prints more money than it has in assets is devaluing it's currency ....the UK introduced QE to stop the country going into recession 10 years back during the financial crisis...against the orders of the EU... that wanted the UK to go bust...I have lost count of the amount of times the UK has QE over the last 10 years ...every time the UK QE the Sterling  exchange rate drop drastically  against other currencies around the world ...government's don't like the word Devalued so the money men thought up a new one called QE. 

Windtalker -.against the orders of the EU... that wanted the UK to go bust...

The ECB themselves have been implementing a process of QE for the last three years at least. I agree it reduced the value of the Euro but since the BOE was doing the same one cancelled out the other. How you arrive at that statement that the EU ordered Britain not to do it I can only guess. It's pure fantasy.

Just an outside observation from watching the housing market in Spain, to fit in with the Maridav point of view.

in the UK the property costing 100k will remain at 100k regardless of what happens to the pound, is accurate right now in lots of the country where housing is in high demand and low supply.

The areas in Spain that retirement homes are or were being built have suffered terribly with the lack of retirees from the UK, these have gone down in price drastically simply because there is oversupply and lower demand.

i have no true idea of what this says about two countries but it's just how it is from my own POV and watching the market.   

With cars, to have a new car you have to be earning or have the income enough to pay for it or you can't have it, it's a simple maths thing.   If, like me you are self employed and paying enough in tax, your accountant can depreciate an asset on your books to help with the depreciation you encounter.  The taxman gets the income then from VAT, registration etc on new cars and people are employed.  We sell lots of cars in the UK, so presumably we can afford it and the taxman gets enough refenue to like it?

Now we have factories all over the place in the UK for making the cars, and more planned to come, it seems a decent future for the car industry.    

With cars, to have a new car you have to be earning or have the income enough to pay for it or you can't have it, it's a simple maths thing.

Not so briando55, with straight car finance as a rule of thumb you 'Should' show wage slips, bank details, spare income etc, so that you are not going over the top with outgoing payments...Having said this it is still very easy to fiddle.

Car leasing is slightly different as shown by a recent check on many main dealers who are offering this service, very little was done to check on the customers finances, the dealer was only interested on shifting metal in more then enough of the checks carried out, this is where the problem is going to arise in a few years time. and why the Government is getting touchy over it. 

Sorry it's not much to do with retirement to Spain.

True, not much to do with retirement in Spain but it's part of the discussion that came up about things affecting that subject.

The main dealer is the person introducing the buyer to the finance, not providing it tho Baz.  I havnt had a full lease car, which is a rental arrangement, I have only had PCP.

if you can't afford it, the finance people take it back, you have to place enough deposit to ensure they don't lose out, they have to carry out all the services etc.   They will carry out all the background checks on you  Like any transaction there is some risk but if it was a bad deal for the finance people, they would stop it as quick as you can say 'retirement to Spain'. 

Mickyfinn just like Mariedave you are not doing your homework..I have quoted facts ...the EU as far back as 2008 was against the UK QE ...and then when they could see it was the right thing to implement ..the EU also started QE ....approximately 5 years after the UK.....of course When the UK QE the value of Sterling dropped ..boosting trade and so forth ...the Euro trading countries did not like this one bit so implemented QE themselves ...WHITCH DEVALUED THE EURO IN LINE WITH STERLING.no fantasy quoted at all just facts.

The ECB began QE because they were facing stagnation, high unemployment and an economy on the floor after the recession. It has nothing to do with Britain or it's currency. That is pure invention. QE is a tool used by all central banks to simulate growth. It's a normal part of running an economy/ The idea they would do it to spite Britain is just plain silly.. 

The problem with trying to disprove unfalisifiable statements is you end up always losing something.

Mickyfinn sorry mate as you well know I did not suggest anything of the sort....what I basically said was the UK showed the shower of none elected shite ....that runs the EU how to run a country ..and balance the books by QE.. ..this is some thing that the EU can't seem to get right ...and with the P.I.G.S paying the dept back at 10 Bob a week its going to be along time coming.

windtalker

Mickyfinn sorry mate as you well know I did not suggest anything of the sort.

Yes you did. 

against the orders of the EU... that wanted the UK to go bust

And as mickeyfinn has pointed out, it's pure fantasy.

Mariedave you can check all the facts out on the net ....including what QE actually is.happy days.😀

windtalker - you can check all the facts out on the net

Where would that be in The Daily Mail or The Express? Conspiracy therories abound on the internet all of them bunk. A fact is a thing that is known or has been proved to be true beyond reasonable doubt.

Your religious hatred of the EU is unbalanced and is clouding your reason.

Is it possible to have a thread only for having a go at each other?

Time and time again I see people posting a genuine question only for the thread to be hijacked by a couple of posters who obviously have a grudge against each other. As with everything in life, people have their own opinions and experiences, just because they are different from your own doesn't mean they are wrong.

mib150,  my thoughts,exactly.

This thread has been hijacked beyond all comprehension .

Suggest those with the playground mentality who believe their intelligence quotent , business acquem and property portfolios are worthy of a constant mention, whatever the question, start threads of their own.

When someone posts something that is plainly incorrect and a distortion of the facts do you:-

(a) Ignore it, thereby affirming it's truth

(b) Point out the correction 

(c) Argue the point

I have no problem with someone having an different opinion to my own. I do have a problem with distortions of the actualité ..

If you are a couple you will need approximately €1,500 per month just to get by...rent is around €500 per month for a 2 bed app + electric+water+Ibi +food ....alcohol and cigarettes and council tax (ibi) are cheaper ...the supermarkets in Spain are more expensive for food .than the UK.second hand cars cost more than double what you would pay for one in the UK. good luck enjoy Spain.

Okay then floella and mib150 if you both live in Spain 24/7  (I have no idea if you do)  do you agree with the very first reply back relating to retiring in Spain and it's costs, especialy the bit I underlined,  do you consider this to be the general view of living and retiring in Spain.

Sorry I deleated the post as it came up twice.

If you rent long term the owner of the property pays the ibi and community charge. The figure of £1500 per month is probably correct but private medical costs added will probably require more.

I quoted €1,500 per month ...if you take  approximately €500 per month out for rent ..that would leave you €1,000 to get by on..so if you dont go partying /no eating out /don't smoke you should just get by ...I am assuming you are retired ...if you are under UK retirement age ..(you will need private health care if this is the case forget it ).

baz1946

Yes, I do live permanently in Spain but not on an expat urb and don't agree with Windtalker regarding costs here. However unlike mickeyfinn couldn't be bothered to argue the point. 

As I have mentioned before if one desires to buy on an Brit urb, drink real ale, dine on fish and chips or curry and buy baked beans plus other well known English products ( many of which are available but with Spanish labels ),  then YES, Spain could be considered expensive.

This though begs the question WHY some  bother coming to Spain if one cannot at least try to immerse oneself  in the culture. Surely it is not just for the constant sunshine and the ( never mentioned ) annoying moscas 

For  starters if renting then IBI is always inclusive and SPANISH food is CHEAPER. Especially when dining out in SPANISH restaurants. Actual value for money is 2nd to none. Speaking with friends who live here in apartments, but not on golf urbs, the utility bills are not expensive. So down to OP to check these details.

Have, like Windtalker !!, absolutely no idea the cost of renting in a popular tourist coastal resort. Would think though that renting long term by a beach would be difficult as owners could get €500 + a week in high season. Actually OP could probably fare better by booking a  tri-monthly hotel b & b deal. No expensive overheads to worry about. Beds made, rooms cleaned and, more importantly,  no washing up.

As OP has mentioned tourist hotspots, to live the dream, would think €1500 , to include health cover and edge of town rental,  to be sufficient.