Which Costa??????
Aug 26th 2015 | 2:54 am
#31
Thread Starter
Just Joined
Joined: Aug 2015
Posts: 4
Re: Which Costa??????
Thank you for the advice.
Aug 26th 2015 | 7:48 pm
#32
BE Enthusiast
Joined: Feb 2011
Posts: 797
From: South Wales and abroad
Re: Which Costa??????
Depends how long you decide to stay in Spain and if you ever plan on working again
My sums were based on someone with a child aged 30 something who would never work again. They need at least £1 million, maybe £2 million
Remember if you dont work then you will have no pension either. And £1 million in 30 years time will be worth much much less
This is something I have thought about a lot - in terms of early retirement or semi-retirement. Someone could theoretically retire on as little as half a million euros aged 40. But you cant get much more that EUR1,200 out of that each month, which would be terrible now and absolutely destitute in 30 years time
Remember that if you then retire in Spain you would get no pension at all. You would be left to starve
My sums were based on someone with a child aged 30 something who would never work again. They need at least £1 million, maybe £2 million
Remember if you dont work then you will have no pension either. And £1 million in 30 years time will be worth much much less
This is something I have thought about a lot - in terms of early retirement or semi-retirement. Someone could theoretically retire on as little as half a million euros aged 40. But you cant get much more that EUR1,200 out of that each month, which would be terrible now and absolutely destitute in 30 years time
Remember that if you then retire in Spain you would get no pension at all. You would be left to starve
Aug 26th 2015 | 8:02 pm
#33
Joined: Jun 2006
Posts: 11,231
From: Granada Costa
Re: Which Costa??????
Can we get back on topic please.
The OP clearly does not seem to have a money issue and arguing about how many millions you need to retire is not relevant to her situation - unless she asks.
The OP clearly does not seem to have a money issue and arguing about how many millions you need to retire is not relevant to her situation - unless she asks.
Aug 26th 2015 | 8:46 pm
#34
Lost in BE Cyberspace
Joined: Feb 2013
Posts: 6,255
Re: Which Costa??????
Indeed you would, and it also depends on the investment return vs. inflation ratio
The long term average for this is 3%. i.e. investments over the past 100 years in the stock market, property etc. average 3% higher than the inflation rate
In which case £2 million gives you an income of £60k before tax each year without eating into the capital. This is more than sufficent to have a comfortable life although of course is by no way living a millionnaires lifestyle. The £60k per year would increase as inflation increases
The problem of course is that the next 100 years isnt likely to look like the previous 100 years when we saw 2 world wars and unrepetant growth as most of the planet industrialised and embraced the neo-liberal capitalist model. This is very unlikely in the 21st Century in my opinion
The long term average for this is 3%. i.e. investments over the past 100 years in the stock market, property etc. average 3% higher than the inflation rate
In which case £2 million gives you an income of £60k before tax each year without eating into the capital. This is more than sufficent to have a comfortable life although of course is by no way living a millionnaires lifestyle. The £60k per year would increase as inflation increases
The problem of course is that the next 100 years isnt likely to look like the previous 100 years when we saw 2 world wars and unrepetant growth as most of the planet industrialised and embraced the neo-liberal capitalist model. This is very unlikely in the 21st Century in my opinion
Aug 27th 2015 | 12:04 am
#35
BE Enthusiast
Joined: Sep 2014
Posts: 323
Re: Which Costa??????
Apologies Scottish Jo. I took your query off topic
Hope you get the proper info you require. This is a great forum and there are decent knowledgeable members who will help you.
Hope you get the proper info you require. This is a great forum and there are decent knowledgeable members who will help you.
Aug 29th 2015 | 3:20 am
#36
Just Joined
Joined: Aug 2015
Posts: 2
From: Marbella
Re: Which Costa??????
The best advice so far has been to rent before buying to ensure you find the right location and check out all the legalities before buying.
The schooling whilst obviously important does not mean going necessarily into a Spanish School as although children learn Spanish here quickly but do lose their English as the teachers are invariably below par in English.
Also remember that the Coast has more activity but is noisy and congested with tourists in July/Aug whereas a country property may be more suitable if you consider accessibility ....so your third option would be within 20 mins of the coast to prevent later hassles.
Nigel
The schooling whilst obviously important does not mean going necessarily into a Spanish School as although children learn Spanish here quickly but do lose their English as the teachers are invariably below par in English.
Also remember that the Coast has more activity but is noisy and congested with tourists in July/Aug whereas a country property may be more suitable if you consider accessibility ....so your third option would be within 20 mins of the coast to prevent later hassles.
Nigel
Aug 29th 2015 | 3:26 am
#37
Moderator
Joined: Mar 2007
Posts: 15,149
From: Costa Valencia
Re: Which Costa??????
The best advice so far has been to rent before buying to ensure you find the right location and check out all the legalities before buying.
The schooling whilst obviously important does not mean going necessarily into a Spanish School as although children learn Spanish here quickly but do lose their English as the teachers are invariably below par in English.
Also remember that the Coast has more activity but is noisy and congested with tourists in July/Aug whereas a country property may be more suitable if you consider accessibility ....so your third option would be within 20 mins of the coast to prevent later hassles.
Nigel
The schooling whilst obviously important does not mean going necessarily into a Spanish School as although children learn Spanish here quickly but do lose their English as the teachers are invariably below par in English.
Also remember that the Coast has more activity but is noisy and congested with tourists in July/Aug whereas a country property may be more suitable if you consider accessibility ....so your third option would be within 20 mins of the coast to prevent later hassles.
Nigel
Problems and complaints should always be addressed to a moderator who will look into the matter and deal with it efficiently and fairly. Our members who post in the Spain Forums are usually friendly and helpful with a wealth of knowledge about the issues of living in Spain. I hope that you enjoy your time participating in the forums.
Please let me know if you need any further help.
Rosemary
Sep 1st 2015 | 11:04 pm
#38
Just Joined
Joined: Aug 2015
Posts: 7
From: Scotland Moving to Competa
Re: Which Costa??????
Hi Jo my wife Lorraine and I are hoping to move to the Costa Del Sol around the end of October beginning of November from Scotland too we have looked at Sayalonga Torrox and Competa our situation is different as we don't have young children but from what I have read and seen on youtube these look like decent areas sorry cant help on schools but good luck.
