# Retiring



## kloegman (Dec 4, 2008)

I am an ex pat living in Vancouver Canada as a Canadian citizen but still hold my UK (EU) passport. I am seriously considering early retirement to Spain (Costa del Sol area) and would love to hear from any 'Englishmen Abroad' (or Englishwomen, for that matter) as to the advantages and pitfalls that I may run across. Many many thanks in anticipation.


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## Stravinsky (Aug 12, 2007)

kloegman said:


> I am an ex pat living in Vancouver Canada as a Canadian citizen but still hold my UK (EU) passport. I am seriously considering early retirement to Spain (Costa del Sol area) and would love to hear from any 'Englishmen Abroad' (or Englishwomen, for that matter) as to the advantages and pitfalls that I may run across. Many many thanks in anticipation.



Well as a retiree, I guess not so many! The main pitfalls are for those that have to work here to earn a living. Property market is not doing so well over here at the moment though so it might be an idea to rent for the moment until you acquaint yourself with the market


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## kloegman (Dec 4, 2008)

Many thanks!

I will be retiring to Spain so things may be somewhat easier for me, as employment is not a requirement.


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## jojo (Sep 20, 2007)

kloegman said:


> Many thanks!
> 
> I will be retiring to Spain so things may be somewhat easier for me, as employment is not a requirement.



Renting is probably the best option for now til house prices finish falling and it'll give you time to find what you want and need and where etc... Rental prices are coming down and there are some good deals around. 

The exchange rate from sterling to euros is grim at the mo, I dont know whether that will affect you - not to mention interest rates.... Miserable times arent they! 

But, on the plus side, I find that life is slightly cheaper here than the UK and of course there's the weather, the scenery, the relaxed atitude....

Jo x


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## kloegman (Dec 4, 2008)

jojo said:


> Renting is probably the best option for now til house prices finish falling and it'll give you time to find what you want and need and where etc... Rental prices are coming down and there are some good deals around.
> 
> The exchange rate from sterling to euros is grim at the mo, I dont know whether that will affect you - not to mention interest rates.... Miserable times arent they!
> 
> ...


Thanks so much Jo.

How are the taxes there? I'm thinking in regard to income from outside the country in the form of a pension or such like?


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## Bevdeforges (Nov 16, 2007)

If your pension is coming from Canada, there's the inevitable exchange issue. You may want to check the website for the Canadian consulate in Spain. They often have information for retirees on matters such as taxes or transfer of national pension payments. You'll also need to consider the matter of health insurance, since you won't have the same sort of reciprocity with the Canadian service that you would had you been covered under the NHS during your working years.
Cheers,
Bev


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## Stravinsky (Aug 12, 2007)

kloegman said:


> Thanks so much Jo.
> 
> How are the taxes there? I'm thinking in regard to income from outside the country in the form of a pension or such like?


If you are a married couple then you will be able to earn roughly €13k without tax. After that:

Spanish tax rates and allowances 2008. Tax rates Spain.


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## Laurence Kloegman (Mar 2, 2009)

jojo said:


> Renting is probably the best option for now til house prices finish falling and it'll give you time to find what you want and need and where etc... Rental prices are coming down and there are some good deals around.
> 
> The exchange rate from sterling to euros is grim at the mo, I dont know whether that will affect you - not to mention interest rates.... Miserable times arent they!
> 
> ...


Hi Jo
You have been replying to my cousin Paul in Vancouver who is thinking of retiring to sunny Espana.
We retired down here 7 years ago from the UK. and live in Urb. Las Chapas which is abour 2kms. from Costabella.
You are so right about interest rates and rates of exchange but I still think we have made the correct decision.in moving down here. We have what I call quality of life.

Laurence


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## King Silk (Feb 25, 2009)

Don't want to depress you Buddy, but I hear that lots of Brits are going back to UK as the exchange rate has made their Pensions too small to live comfortably on.....My UK Pension is worth 30% less here in Thailand.......UGH.


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