How much is enough?
 

A bit personal, but how much money did you take with you when you emigrated? We reckon we will have about £70k now, but hald of that will be invested for a year in the bond. IS this a reasonable amount to start a new life with? Im not daft enough to pretend I will be mortgage free with this amount BTW!

Hi Lucy

We plan to take around £100K - that will be proceeds of house, minus outstanding mortgage (£58K) and transport costs for us, 2 x cats and belongings.

We will probably be putting it into some sort of savings account to start with and rent for the first few months until we know exactly where to settle but hope that should be enough to get a reasonable place to live mortgage free.


Hopefully we may take a bit more - depends how much we can save in the meantime!
:D

Re: How much is enough?
 

Well I don't have a house to sell so i only have 20 grand which we've somehow managed to save. I keep panicking about it and then think well what's the difference to having 20 grand in the bank here, i've still got to get a job etc so I don't think it matters that much.

A friend moved to sydney last year and only went on a grand and she's doing fine.

I suppose it just depends what you plan to do when you get there and how much time off you have etc. Obviously it would be lovely to have a massive wad in the bank but not the end of the world.

Re: How much is enough?
 

Also, your £20K should stretch further over there due to the exchange rates! :)

We took about 5K :(

We will be taking over about £25-£30K in cash, but we have already put £30K into a house, which we have bought already.

We will more than likely need to spend £5-7K on household stuff (we arent taking much stuff) and a couple of thousand on a car - so i reckon we will have about a £20K buffer zone once there.

This is effectively like having a wage (after tax) of $50,000, so we are sure that we can survive for 12 months, even if we didn't get jobs etc, which i am sure we will.

As mentioned some people have gone over without being in the fortunate position of having made money on property and they still do absolutely fine.

We're only taking about £6k... but then I already have a place to stay when I get there!

Sam

We are taking round £65K which we were lucky enough to have got as an inheritance.....In the area we are looking to live...we plan on buying a 2-3 bdrm Unit which we should only have to have a very small mortgage....possibly only $20-30K.....together with buying a reasonable car for me and a motorbike for the hubby....I am quite excited...we should be pretty well set up....

Re: How much is enough?
 

Whaetver you bring is not enough.



We took voluntary retrenchment plus cashed in insurance and pension policies etc so over the next year or so have about $450k and are still panicking.

Doesnt matter what you have ... you will still need more.

Lifestyle is built around what you have (or expect to have)





example
Started in UK as student earning (part-time) $2000 pa, Graduated and got job earning $12k pa ....... moved up the chain and left Europe on salary =$135k pa ....... still broke at the end of each month.

Making It Big In Buck$:

"It might sound odd but the Sir Peter Abeles success story began with Sampson and Delilah, two small run down second-hand trucks. From there Sir Peter Abeles built Altrans, an international transport empire."

"His was a classic rags to riches story. A penniless Hungarian migrant who arrived in Australia in 1949 and achieved more financial success in Australian and international business than anyone but his friend and business partner, Rupert Murdock."

Sir Peter Abeles

For some money would have been an impediment.

God, I wish I had the brains to think of some fab company to start out there...all I would be good for would be running a travel agency and Im sure there's no shortage of them out there!
:( :( I wish I was like Richard Branson or that Stalios chap!

Know what you mean, I have already got my thinking cap on but I just dont think my brain is built like there's! :(

Richard Branson is a crook!! AS for Stelios - yeah - he's a nice guy - I like him, but hate his airline!

you rich b*****rs


I came to perth with $ 15,000 dollars.

I came here to get a job.....now looking to buy a house with a mortgage.

We didnt have house to sell etc etc, and have no kids.

And never forgetting to put in my slikpik 25 every week!!!


Just hope those coming with loads of pounds doesnt put up house prices here in the next few months.!!!


Pauper in Perth. And loving it!

Re: How much is enough?
 

we sent over funds totaling

$206,000

thease are my sums

mortgage : 160,000

=366,000 in all

260,000 house
25,000 for 2 cars
10,000 in bank
10,000 house hold stuff
10,000 air con for house
8,000 stamp duty after 7,000 reduction
6,000 in pocket so hubby doesent have to work straight away
6,000 flight for m-i-l best friend and her little boy

=335,000 if my sums are right ???!!!

the rest goes on car insurance
and anything that crops up out of the blue !!!

the house i have seen and my mum has checked out is up for 255,000
4x2 with bgp,garage on a 719sq m plot so a good start we think

the mortgage on $160,000 is just over $1,000 a month the

we had £80,000 mortgage here and paid £420.00 a month so its all about the same

although 2 bed terraced no pool 1 car no air con nothing in the bank and 1 holiday in 4 years

so i recon as long as you aim round about here 70,000 will be fine
i mean if people can make it work with 6,000 then i say we are well lucky !!!
:D :D

Re: How much is enough?
 

[QUOTE]Originally posted by Mairi&Chris
Whaetver you bring is not enough.



We took voluntary retrenchment plus cashed in insurance and pension policies etc so over the next year or so have about $450k and are still panicking.



We should be so lucky - $450K:scared: ;)



Lisa x

We will be going with about £269K proceeds of redundancy and equity. We plan to spend the first few months adjusting to life in Perth and organising essentials such as kids schools/childcare, rental etc and all the boring stuff. We don't plan to buy until hubby's job at the Perth branch of his company, or elsewhere, is definate. He works in the oil industry so work should not be a problem, I will be a primary teacher so should be able to do relief work.

ACE :)

Bloody hell!!! Money bags! Im jealous!!! If only I didnt spend so much money on CRAP Id be much better off!!!:rolleyes:

The circumstances are a little different, but... I left university with £200 (when you could buy a four-course dinner and still have change out of a sixpence, yeah right...) and these days many (all?) leave with a huge debt. Yet they still manage to carve out a life. It may be a struggle but it doesn't mean it's impossible.

Just trying to encourage those who think they're too poor to succeed!

We are just lucky that hubby stayed at the place for 22 years and the houses in our area, like most, have seen a sharp rise in value. Mind you it has been demonstrated loads of times on this forum that people go with a lot less and are perfectly happy and sucessful.:)

ACE

I believe people live by their means, the more money you have / earn then the bigger the house/mortgage or more holidays / exotic locations etc.

We should be taking about 25k with us but if we have to stay in the uk longer than the 16th august then it will eat into that figure due to neither of us working now ( i finished yesterday ).

We plan to live like paupers upon our arrival in aus.After all, without knowing how much money you will be earning or paying out each week, how can you possibly know how much rent you can afford ?????

So we rent as cheap as possible, get jobs and see what happens.We're taking next to nothing with us, just stuff for the kids mainly ( playstation and videos/ dvd's etc ) so have to buy everything once there.

Scary stuff but we believe it's the right move for us and however much money you take it WILL be enough because you will live by THOSE means.
Loads of money just makes things easier i suppose.
Again, it depends on how you live now and how you are prepared to live once in aus until settled.

Paul.

Re: How much is enough?
 

yeah, but now we have no pensions etc, it all has to be rebuilt in the next 20 years. (assuming my liver last long enough to get me to retirement age ;) )

Yes, handing over thousands of pounds to DIMIA and migration agents really takes its toll on the savings. Add to that the peanuts you will work long hours for in Oz (and be grateful for it as there are 1000s waiting to take your job).

Depending on house sale, hopefully £250k. I want to be a beach bum, I've worked hard enough already!

Hey Kong

You still earning (eating) peanuts?

Well it certainly aint thousands of pounds in our case about £1.1k (diy) plus £2.1k bond which we get back in 2 years. I hope it to be worth every penny. If it don't work out we lose a bit of cash but I reckon it's worth the gamble.

Jobs in Oz? Well we take our chances on what we earn it's all comparative, please, please don't start a thread about cost of living in Oz, seen millions of them.

Anyway where you been the past few days, aint seen much activity or cut and paste (apart from the property one)? You losing your touch?

Walla

I have been too busy manning the phones on my information line for Brits who have blown their life savings on a bulls@:t dream of an Australia that does not exist.

I have been surviving on an hours sleep a night. The stories that I have to listen to are heart breaking.

I will try to donate more of my time to this forum, as prevention is indeed preferable to cure.

Cheers

Hey Kong

So that's why you hate Australia, all those bad stories and your own experiences of course. Are you at liberty to share some of thgem with us, of course respecting confidentiality? Where do you work or is it your own time that you take these calls?

Yes, please donate more time to us as I agree prevention is indeed preferable to the cure.

Walla