That reminds me what I saw at the airport, life expectancy in Spain is the highest in Europe because they drive Volt, maybe the weather alone would do it, no need for doctors, haha.
Iām not sure this isnāt true in the US also. I know that my family members who are doctors have been very helpful to other family members dealing with hospitalization or even basic medical care because they speak ādoctoreseā and can make sure things arenāt being overlooked or ignored.
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It probably helps in the US to being along a knowledgeable medical professional when seeking medical care. And then have both the knowledgeable medical professional and an accountant to decipher your medical bill afterward.
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I wasnāt sure if that was a negative or positive - sounds like a positive to me!
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I think many people who retire in Europe and elsewhere split their time between multiple houses/apartments/rentals. Like someone who goes to FL in the Winter, someone else goes to Spain. I live in a great area of the US also with great hospitals and things to do. But I can see some real benefits of living abroad in my early retirement years.
I love the laid back lifestyle in parts of Europe. And I love the way people talk to strangers and the manners that people have. After three weeks in Europe, I could tell the Americans. They were the ones who pushed without saying excuse me or ran over your toe with their luggage. English speaking country so they had no excuse there. I noticed it a lot on this recent trip. Donāt know why.
Iāve lived in many countries and have always had traveling in my DNA. My husband is the same. Weāve had some great encounters while traveling. And our kids have too. I think some people are wired to compare things, like my mom. Everything is better or worse than home.(Usually these people find it worse). My dad, on the other hand, loves everything and is open to every experience. For him, every meal is the best he ever had or the view is the best beautiful. Lol.
Retirement is so much about what motivates you and doing things you enjoy. And some people want to stay in their garden which is totally cool. While others, want to ride horses on the beach in Ireland. Iām the latter. If I get sick, Iāll find a doctor ( agree itās great to bring someone with knowledge). If I need something, Iāll get it done. When I lived in Europe, Iād always be able to figure it out. But there were many whom I worked and studied with who could not get that people and countries are different. And thatās a good or bad thing depending on how someone is wired.
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^^ Such a good focus! Iāve seen folks (in my family) retire to beautiful, custom-built houses in nice suburban neighborhoods. They are then figuring out what to do with their days, what they enjoy. It will likely work out for them, but Iād prefer to do as you said, Htas - figure out the focus/enjoyment part first!
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Returning to a subject we discussed earlier on in the thread,
This may be partially behind a paywall but the beginning of the article is viewable with no subscription.
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This does not surprise me. Many of these people left because during Covid working was more trouble than it was worth (commuting, health risks, etc.) There were no jobs to be had if you got laid off (unemployment was sky high), and many of these retirees lost their jobs and then said Iām old enough to just retire instead. Now companies are desperate to hire and a permanent work from home position with full benefits may be desirable.
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Add to that their 401K are being destroyed in the current market.
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Have to really think hard about safety/security of 2nd home property. This is a big āyikesā.
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Yes, I think you need to have a long term plan well before retirement. Weāve always hoped that we could enjoy retirement after the kids graduated from college. Thatās around the corner. There are always so many unknowns " like health" But for the things we can control, we talk about various choices a lot.
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Sounds awful, which is why many people with a second home engage the services of a caretaker or a property management group. Weāve got a caretaker for our vacation place and if weāre going to be there for a long time, I have a friend whose daughter is willing to housesit for us at our permanent residence. Leaving a home unoccupied for any length of time, IMO, is not a good idea.
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Re: the second home and security - thatās one reason (along with maintenance issues!) that makes me think renting in a warmer weather locale every year (if your home base has a cold winter) would be less complicated, less to think about.
Hiring a caretaking company makes sense - but Iām also trying to minimize expenses during a future retirement - would that might be a little pricey?
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And honestly, when you run the numbers based on how many years youāll be there part of the year, the costs and all the rest, in most cases, it doesnāt make sense to buy.
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That is so true, weāre hesitant in buying another place for that exact reason. But the falling Pound and Euro is very tempting. I stick to renting.
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Yes, for us too. Two unusual European buying things to consider: 1. Your heirs might have to pay an inheritance tax when you sell on the entire place ( not just subtracting increases). It can be very high around 33%. 2. The fees like VAT and even stamp fees etc can be really hefty. In one country, the VAT on new houses is something like 15-17%. Thatās a lot. Between those two fees, that makes it a bit more āexpensiveā Still, weād prefer something in Europe to something in FL, AZ, CA, or HI.
I had never, ever thought of inheritance. But it would be a factor since our kids would inherit the house down the road. Iām still doing research.
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Given the extremely low cost of DIY security cameras adn doorbells (or even subscription services like ADT), not sure Iām understanding the safety issue for that 5% of folks who can afford to choose to purchase a second home.
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My main concern would be unexpected maintenance issues that require immediate attention, so one needs a property manager. If you are an ocean away, it would not be easy to jump on a plane to go change a faulty smoke alarm or shut off the water main - even if you have sensors that can report the problem remotely.
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We live in a community of seasonal people both in AZ and ME. Our neighbors are awesome at helping us handle any issues that arise in our absence at either location. I posted last year about our distress over a sofa that couldnāt be delivered to the cabin until (long) after weād left to return to AZ. I put out an e-mail to the association, and several people offered to take delivery for us. During the winter, our security camera showed the door had opened on our woodshed. A neighbor checked it out for us and resecured it (probably an animal or strong wind). While we were in Maine, our AZ HOA notified us that a coach light was out. A neighbor replaced it for us. We help out in return. When an absent neighborās tree went down in a monsoon, we took care of the removal. This is just what neighbors do, especially in communities where many homes are seasonally occupied.
The wifi cameras enable us to monitor the inside and outside of both places and notify us immediately of motion or access. We arenāt concerned about crime in either location, but they are great for general property oversight, like the open woodshed door. We also have remote control over our door locks so we can allow access if a neighbor needs to enter (to take delivery of a sofa, for example).
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I went to Las Vegas for a week and my whole garage door was blown open by the wind, my neighbor told me about it. Nothing was missing. We learned to lock it before we go.
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