not2old

no, its not about baseball or sex ....

We've toyed seriously with selling the castle, the heirlooms, & to get rid of the final 40+ years of stored crap. Anything worth keeping for any reason would be put in storage lock-up's. Then we embark to become 'on the go world travelers' living 1, 3, 6 months at a time in several carefully selected countries & to keep on doing it for as long as our health permits us to do so.

Our daughter remarked 'so, you going off the map' which translated, means 'No Home Base'.

The banking & access to the money we'd need going from place to place we've figured out, we know we can go the 'Apartment/hotel or rent from property owners route', set a budget & travel times to meet our lifestyle.

What do folks think?

- do you think rather have a home base, just keep on traveling as needed

- have two homes or more on the go, one as a home base, the other a 'holiday home'

- or be content with a home base, then just travel, here & there for getaways

Having a home base & to be on the move wandering the globe has me thinking

- what if we get sick in one of those none speaking/communicative foreign countries - are we as good as dead

- what about the home base if we're away several months on end. I'm thinking about squatters, vandalism etc

MrBife

Rent out the home base and just go for it. That way you are not burning any boats, daughter will still get her inheritance and you be adventurous in the safe knowledge that you can go back any time you get tired of adventures.

I remember a conversation I had with a guy 20 years ago who was super rich and I asked him what his secret of success was - he said to me, 'never sell anything' which seemed to work for him anyway; as he was a billionaire then, but he is dead now which is another lesson isn't it

mfesharne

I'd be inclined to keep a home base but possibly renting it out to help with the finances but I'd do it through a reputable agency and with correct insurances etc in place.

As for getting sick in distant places etc.......... if you have a full cover policy such as Global Rescue and a satellite phone you can pretty much be assured of your safety with the exception of being kidnapped by IS or similar lunatic group.

Full Global Rescue cover not only gives you full medivac cover but even includes their sending in a group of ex special forces types to evacuate you from war and disaster zones etc.

not2old

post 2&3 thanks for the input so far.

one point - we've discussed with our children regarding the matter of 'inheritance' - collectively we spend it all, in other words 'no planned value to be left' ...of course, one never knows when their time is up.

As for renting out the castle - it wont be one of the things we'd ever do at our age.

Convert everything to cash & plan accordingly.

Campanula

Rent the castle it's good income .It will also give you the incentive to clear out the 40 years of accumulation because if you don't in the end someone will have to do it for you.Leaving an inheritance is a personal thing and may depend if the inheritor needs it but you deserve to use some and have an adventure while you are still fit. I like your idea might try it one day

Fredbargate

Can you renew your passport without a "permanent" address ?
Can you apply for a new bank account without a utility bill ?
Will your bank send replacement cards to an overseas address ?
Can you renew your drivers license ?

And many more questions.

I have a friend who has come across these problems, most solved by using his daughters address, but they all need answers.

Armchair Traveller

I wouldn't sell anything until,I had been away from home for a couple of years. Then, if the nomadic life appealed to me, I would keep some kind of home base close to family. You could sell the house and buy an apartment which could be rented out via a property management company with the rental income covering maintenance.

Although international medical insurance will cover illness and repatriation, will it cover long term care in a private facility should one of you become incapacitated in a foreign country?

Incidentally, I'm keeping an eye on your other threads because I'm interested in the answers to most of your questions.

teejaydee

I have been a "permanent traveller" for about a year. I put all my possessions in a self-storage unit and have been living as a nomad since. I know people do this for several years, but I think it should be seen only as a short-term way of existing.

If I am going to a cold climate I go to the self-storage unit to collect my cold weather clothes, and if I am going to a warm climate I leave them back in the self-storage unit and take only warm weather clothes.

I travel only with a carry-on size suitcase and a small computer bag.

I have run into many of the problems which Fred has mentioned. I do not have a relative's address to use, but even if I did, it would be difficult. This is because a pre-requirement for many things these days is showing proof of residency at a particular address (e.g. a tenancy agreement, a utility bill and a bank or credit card statement). Opening a bank account cannot be done in most countries without this.

New credit cards and debit cards cannot be sent to any address other than the one registered in their system.

The use of credit cards is a problem. Credit card issuers like to be informed in advance if the card is being used overseas. I have found the card issuers can cope with use abroad for short periods, but get suspicious if they spot a pattern of continued use overseas. I had one card blocked because of this "suspicious activity".

I have not had to renew my driver's licence, but imagine this will be a problem.

Luckily I have several bank accounts, credit and debit cards etc. so I can survive without too much problem.

I think being a perpetual traveller would have been easier ten years ago, but nowadays there are practical problems such as the ones mentioned above, which make it less easy.

not2old

Passports renewed in 2014, bank & bankcards good for minimum 3 years. So, it a window of opportunity, then a reset.

We are fortunate that we could use one of the childrens addresses [if not them we have two other people which we can use] as our base for things like Bank accounts, filing tax returns, CC etc. Our accountant (also a friend) says he has clients that use his office address as their address - he handles the details of the items mentioned & the rest, but I wont do it through an accountant because its money wasted IMO. Again, its all dependent on what folks are trying to achieve

Given the issue of the need to have an address for the things mentioned above, there are a few folks doing the nomad life who hold two or more passports that have friends or relatives in the countries of those passports.

To go totally off the map, cash only world or Visa/Mastercard type cash cards its doable for long stretches. However at some point [I think] one needs point contact address for passport renewal & any other official documents that we have.

We have an HSBC account in dollars, euro & sterling

We are retired OAP's so it not about emigrating anywhere to work or the need to have permanency that requires us to buy property. This one point (on buying) is work in progress such as I mentioned elsewhere a 'sheltered housing apartment in the UK' Location, price & running cost are factors on this one. Liquidity at all times.

We are not going the tax evasion route or dodging tax. We shall pay all or any taxes as they are deemed due in the jurisdiction that is our stated 'habitual residence'. Lowest tax location important factor.

On the point of 'renting out the castle'. We've looked at it - it doesn't work for us' or see the need to keep the asset that will produce income to offset our expenses. Too much hassle being away knowing someone will wreck it or property prices fluctuate. And besides, at our time of life we are not saving for old age

We are not materialistic people & having moved around so much, living in several countries during our married life, the 'keep the asset' is not important. We liquidate everything to cash - so to speak.

The years of junk I spoke about is mostly all the kids stuff, which is now gone to them or the thrift store. Anything else would fit in a medium size lock-up storage.

Likely for us ....

- it would end up a low cost of living base somewhere [this is the important factor], to be anywhere within a max 12 -18 hour flight. Places on our 'to live map' mentioned in the other thread Australasia, North America & Western Europe.

- The healthcare and/or with insurance we thought may be difficult is not really an issue

- At some point & it could happen anytime - either one of us could get sick beyond recovery. We have factored that into the plan

brodev

Welcome to The Simple Mailbox
The above may be of interest to a "traveler"

not2old

post#10, yes - I am aware of those & they are everywhere - OZ, NZ, USA, Canada the UK. What that doesn't solve is the 'habitual residency', electoral roles, pension receipts or deposits, offshore bank accounts or HMRC issues.

So its down to the wire & thanks to all for their responses, input & opinions - greatly appreciated.

- We are not wealthy people, just OAP's folks that can live a moderate lifestyle. That to max on any surplus cash that we have each month, we need a lifestyle in a location(s) that will give us...

- safety, healthcare needs & the lowest possible cost of living with the least amount of aggro

- We can afford a place in the sun, we know we can have a UK base for 'Habitual residency', to come & go freely, whether its either/and/or have a permanent residence in one place, such as Portugal, Spain, France, Malta or some other place.

- The flexibility & choice to do whatever, whenever without being tied down

- We know we can carry within the EU sufficient amounts of cash or a cash card in euro's or pounds to sustain us in one of the many EU countries for several months at a time or longer - all without having a bank account in one or more of those countries.

- We know that at our time of life there may be no need to buy a property - simply just rent.