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How much is enough???

How much is enough???

Old Jan 3rd 2008, 7:56 pm
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Default How much is enough???

Hi all

been an avid reader of this forum for ages and just have a couple of questions for people who are in sydney or brisbane.

I work in IT (contracting) as a Business improvement specialist/project manager and my good lady is a forensic psychologist for the prison service in the UK (chartership through in May 2008).

We have just kicked off our application with Go Matilda and wanted to know salary wise what is enough to live on (good standard) in Sydney or Brisbane. We are seeking a better quality of life, slightly more relaxed, etc.

I am hoping to earn about $80-90,000AUD and the missus is hoping to earn $60,000-$70,000 (in sydney, probably 20% less in Brissy) although we have no collateral really to take with us (i.e. we dont own our home) so will be going with about £20,000 start up fund.

The sydney house prices are sky high so we were thinking brisbane may be a better place to start for value for money?

Are there any opinions as after reading many posts and watching a few programmes, many families take a fair bit of collateral from house sales etc and we will be starting from scratch.

Thanks

Sean
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Old Jan 3rd 2008, 10:10 pm
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Default Re: How much is enough???

Take a read of this: http://britishexpats.com/forum/showthread.php?t=421240
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Old Jan 4th 2008, 9:48 am
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Default Re: How much is enough???

Originally Posted by Wendy View Post
thanks for that link

we are also in a similar position as we don't own a home here in the UK, so will literally be going with some suitcases and some cash to get started. However as a nurse I will be going over to a job as i won't go until i have one so at least i know there will be some money coming in from the start. I have no problms with renting for a few years whilst we gtet sorted athen think about buying something
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Old Jan 4th 2008, 9:52 am
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Default Re: How much is enough???

Originally Posted by suzanne7575 View Post
thanks for that link

we are also in a similar position as we don't own a home here in the UK, so will literally be going with some suitcases and some cash to get started. However as a nurse I will be going over to a job as i won't go until i have one so at least i know there will be some money coming in from the start. I have no problms with renting for a few years whilst we gtet sorted athen think about buying something

With them potential earnings you should be just fine. We only earn $60k per year and we have no debt, can pay the bills, manage nights out here and there, and still have enough to save a little. We also have a 95% mortgage of $225k - however the cost of living for us will be less than if we lived in Sydney. We're in South Australia
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Old Jan 4th 2008, 10:05 am
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Default Re: How much is enough???

Originally Posted by Wendy View Post
With them potential earnings you should be just fine. We only earn $60k per year and we have no debt, can pay the bills, manage nights out here and there, and still have enough to save a little. We also have a 95% mortgage of $225k - however the cost of living for us will be less than if we lived in Sydney. We're in South Australia
thanks, thats a relief, now we need to just save up for all the visas, medicals, police checks, nurse board registrations, flights, and some cash to get us started and we'll be okay

we are most likely looking to be in a very suburban part of one of the cities or one of the regional towns in either WA, QLD or SA
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Old Jan 4th 2008, 10:07 am
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Default Re: How much is enough???

Originally Posted by Wendy View Post
however the cost of living for us will be less than if we lived in Sydney. We're in South Australia
Wendy, wow, thats an eye opener for me, can you be a bit more specific?
NJ
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Old Jan 4th 2008, 10:18 am
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Default Re: How much is enough???

Originally Posted by Wendy View Post
Yes, many thanks for the link Wendy, bit of a shock at first although a very truthful reflection and never say die attitude.

I suppose my main worry is that at 36 (although the other half is 30) and with no major collateral will we have enough time to get enough money into a property to be able to live once retirement approaches. (Wishing my life away already lol)

I am sure like the UK once you get passed the ages of 45, certain job doors start to seem ajar and not fully open so I am giving myself 10 years to get as much money into a house before I have to look at slowing down.

Once again many thanks.

Sean and Rach
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Old Jan 4th 2008, 10:18 pm
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Default Re: How much is enough???

Originally Posted by suzanne7575 View Post
thanks, thats a relief, now we need to just save up for all the visas, medicals, police checks, nurse board registrations, flights, and some cash to get us started and we'll be okay

we are most likely looking to be in a very suburban part of one of the cities or one of the regional towns in either WA, QLD or SA
Well if it makes you feel any better, we did it and we had nothing spare. Where there's a will there's a way

Originally Posted by newjersey View Post
Wendy, wow, thats an eye opener for me, can you be a bit more specific?
NJ
Well I have a cousin who lives in Sydney, he's one of the top chefs in a resteraunt there and he can't afford to live in his own house. He bought one with two mates, as it was the only way he could get on the housing ladder there (he does live in the city though).

If he moved to SA he would have been able to buy outright BUT he wouldn't be able to earn the same.

Originally Posted by seanpears99 View Post
Yes, many thanks for the link Wendy, bit of a shock at first although a very truthful reflection and never say die attitude.

I suppose my main worry is that at 36 (although the other half is 30) and with no major collateral will we have enough time to get enough money into a property to be able to live once retirement approaches. (Wishing my life away already lol)

I am sure like the UK once you get passed the ages of 45, certain job doors start to seem ajar and not fully open so I am giving myself 10 years to get as much money into a house before I have to look at slowing down.

Once again many thanks.

Sean and Rach
I don't think the age restrictions are as bad here as the UK. I'm hoping to go to uni next year, and won't be qualified until I'm nearly 40. By the time I've got where I want to be I'll be about 45! Doesn't worry me in the slightest as I know that most Australians value a good worker, no matter what their age.
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