How much would you need to retire on in NZ?
Aug 5th 2005, 12:26 pm
#1
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Thread Starter
Joined: Feb 2005
Location: West Midlands, UK
Posts: 60
How much would you need to retire on in NZ?
I'm busy doing some planning - trying to work out how much we'll need in later life to fund our retirement in NZ... so I can ensure we make sufficient provision once we arrive later this year.
So... if you can imagine the kids having grown up and left home, the mortgage cleared (perhaps you're there already), and the job (and salary) a distant memory...
How much do you think you would need each year to fund your lifestyle: paying for food, running an average car, health cover, rates, electricity, a few luxuries etc... how much in total do you think a couple would need each year?
Alan.
So... if you can imagine the kids having grown up and left home, the mortgage cleared (perhaps you're there already), and the job (and salary) a distant memory...
How much do you think you would need each year to fund your lifestyle: paying for food, running an average car, health cover, rates, electricity, a few luxuries etc... how much in total do you think a couple would need each year?
Alan.
Aug 5th 2005, 2:51 pm
#2
Galaxy 1: Cadbury's 0
Joined: May 2005
Posts: 1,606
Re: How much would you need to retire on in NZ?
Originally Posted by isv
I'm busy doing some planning - trying to work out how much we'll need in later life to fund our retirement in NZ... so I can ensure we make sufficient provision once we arrive later this year.
So... if you can imagine the kids having grown up and left home, the mortgage cleared (perhaps you're there already), and the job (and salary) a distant memory...
How much do you think you would need each year to fund your lifestyle: paying for food, running an average car, health cover, rates, electricity, a few luxuries etc... how much in total do you think a couple would need each year?
Alan.
So... if you can imagine the kids having grown up and left home, the mortgage cleared (perhaps you're there already), and the job (and salary) a distant memory...
How much do you think you would need each year to fund your lifestyle: paying for food, running an average car, health cover, rates, electricity, a few luxuries etc... how much in total do you think a couple would need each year?
Alan.
Aug 5th 2005, 6:30 pm
#3
BE Forum Addict
Joined: Feb 2005
Location: Back in NZ & loving it - living in Orewa
Posts: 1,183
Re: How much would you need to retire on in NZ?
How about:
- food & booze - $1000 pm
- rates (100), power (150), phone+adsl (100), insurance (50) - $400pm
-running a car - $400pm
- health care (wild guess here) - $200
- clothing etc - $500
I make that $2500 net income. The $4k above seems a bit steep to me, because if you add $2000 for a mortgage, this gives $72000 net pa - or $104k gross pa - for bare essentials only?!??. Not sure what uk+kiwi is using for toilet paper, but could I suggest not those funny green bits of paper with the Queen's head on?
- food & booze - $1000 pm
- rates (100), power (150), phone+adsl (100), insurance (50) - $400pm
-running a car - $400pm
- health care (wild guess here) - $200
- clothing etc - $500
I make that $2500 net income. The $4k above seems a bit steep to me, because if you add $2000 for a mortgage, this gives $72000 net pa - or $104k gross pa - for bare essentials only?!??. Not sure what uk+kiwi is using for toilet paper, but could I suggest not those funny green bits of paper with the Queen's head on?
Originally Posted by isv
I'm busy doing some planning - trying to work out how much we'll need in later life to fund our retirement in NZ... so I can ensure we make sufficient provision once we arrive later this year.
So... if you can imagine the kids having grown up and left home, the mortgage cleared (perhaps you're there already), and the job (and salary) a distant memory...
How much do you think you would need each year to fund your lifestyle: paying for food, running an average car, health cover, rates, electricity, a few luxuries etc... how much in total do you think a couple would need each year?
Alan.
So... if you can imagine the kids having grown up and left home, the mortgage cleared (perhaps you're there already), and the job (and salary) a distant memory...
How much do you think you would need each year to fund your lifestyle: paying for food, running an average car, health cover, rates, electricity, a few luxuries etc... how much in total do you think a couple would need each year?
Alan.
Aug 5th 2005, 9:41 pm
#4
Galaxy 1: Cadbury's 0
Joined: May 2005
Posts: 1,606
Re: How much would you need to retire on in NZ?
Originally Posted by lapsed kiwi
How about:
- food & booze - $1000 pm
- rates (100), power (150), phone+adsl (100), insurance (50) - $400pm
-running a car - $400pm
- health care (wild guess here) - $200
- clothing etc - $500
I make that $2500 net income. The $4k above seems a bit steep to me, because if you add $2000 for a mortgage, this gives $72000 net pa - or $104k gross pa - for bare essentials only?!??. Not sure what uk+kiwi is using for toilet paper, but could I suggest not those funny green bits of paper with the Queen's head on?
- food & booze - $1000 pm
- rates (100), power (150), phone+adsl (100), insurance (50) - $400pm
-running a car - $400pm
- health care (wild guess here) - $200
- clothing etc - $500
I make that $2500 net income. The $4k above seems a bit steep to me, because if you add $2000 for a mortgage, this gives $72000 net pa - or $104k gross pa - for bare essentials only?!??. Not sure what uk+kiwi is using for toilet paper, but could I suggest not those funny green bits of paper with the Queen's head on?
Glad to hear you think it would be less but I'm sticking to 4k because I noticed there were 'a few luxuries' required - eg beauty treatments, decent toiletries, hairdresser, golf etc. Plus $1000 month for food and drink wouldn't be enough for entertaining even once a week. Also I've heard someone on this forum say they use $100 electricity per week, not per month. Maybe Rascal???? Not sure though. So $2500 wouldn't cut it for me personally - especially on the North Shore Lapsed Kiwi!
