# Good time to make the move ?



## peter dennett (Jan 28, 2010)

Hi Everyone.
Not been on for a while but , in a nutshell , I have finally been bought out of my former house , footloose and fancy free, got £50k to play with and no real ties here. Am 51 in December compos mentis etc , basically do you think this is a good time to make the move ? Had planned on not working that is my only concern really ? Love to hear your views good and bad , if I have to work here for a few more years then so be it but itching to give it a go .


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## Pam n Dave (Jun 11, 2007)

If you have an income of some sort then fine as 50K won't last long. Think about static costs a little such as rental, health insurance etc.

Have you a hobby to occupy your time??


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## Veronica (Apr 5, 2008)

Hi Peter, welcome back to the forum

Pam and Dave are right, 50k will not last you very long, certainly not until you get your pension. You will need some form of income.


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## kimonas (Jul 19, 2008)

Do you think you could survive in the UK with your limited capital without working? I'd judge the cost of living to be the same in both countries taking into account all the swings and roundabouts. There are obvious advantages to living here (climate, relaxed lifestyle etc) but there are disadvantages too - (lack of support for unemployed, poor health care provision etc). I'd guestimate that you could live reasonably comfortably for 6 to 8 years on your savings, but then you'd come unstuck and need to return to the UK or find employment. Unless you have a real talent for something and/or speak greek, the chances of getting employment here (in the short to medium term at least) are pretty slim for anything other than casual work/labouring which is very poorly paid and pretty unpleasant in this climate.

Good luck in whatever you decide...


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## peter dennett (Jan 28, 2010)

hmmm..thanks for the honest advice everyone. Suspect I need to spend a while longer working here--maybe not too long. At least I am in a position to visit pretty frequently now until can afford to come over full time - not such a bad position to be in of course.If work situation was better in Cyprus would perhaps go for it but head has to rule heart for a little while yet. 
Renting here at present, be interested to know what £400 p.mth. or so would get me Peyia/Paphos area. Will research on web but nothing beats your knowledge folks.


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## Pam n Dave (Jun 11, 2007)

If things allow then try an extended holiday of maybe a month or so, if over the next year or so you can do a month in each season then you will get a good feel.


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## PeteandSylv (Sep 24, 2008)

Peter,

I think you may be getting a strong message from all the replies you've had. I thought I'd add a bit of maths: 

Let's imagine your money has to last until retirement age when you might receive a pension. That means it must last for another 14 years. Thus the lump sum of £51,000 will provide you with £3,643 a year to live on. Of course there will be interest on the balance but just think of that as another couple of beers. 

Clearly you won't manage to live on that figure anywhere. So financially it is simply not viable.

Throw in a bit of ill health along the way for which you'll have no cover at all and your balance will diminish even faster.

The other important consideration is the fact that you are 51. You should still have plenty of energy and ambition left so sitting around for 14 years doing nothing should not be something to contemplate. If you do there is plenty of research that suggests you won't get to spend your pension!

Pete


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## peter dennett (Jan 28, 2010)

Thanks again folks. A few extended holidays seems the way forward for a while yet, not a bad option of course. Appreciate the straight talking from pete & sylv but do realise £50k not enough to live on without working which is why I did not anticipate coming over till 55 when will have a pension. Personal circumstances different now and the pull is strong but naturally bills to pay )-: As I have worked from school 33 years so far , think a bit of me time is in order though. Don't plan to work myself in to an early grave or vegetate in dreary grey expensive Britain - maybe as we go in to another long cold winter and days get shorter those of you lucky enough to be there already might count your blessings


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## PeteandSylv (Sep 24, 2008)

peter dennett said:


> Thanks again folks. A few extended holidays seems the way forward for a while yet, not a bad option of course. Appreciate the straight talking from pete & sylv but do realise £50k not enough to live on without working which is why I did not anticipate coming over till 55 when will have a pension. Personal circumstances different now and the pull is strong but naturally bills to pay )-: As I have worked from school 33 years so far , think a bit of me time is in order though. Don't plan to work myself in to an early grave or vegetate in dreary grey expensive Britain - maybe as we go in to another long cold winter and days get shorter those of you lucky enough to be there already might count your blessings


Aaaaaagh! You did not tell us this in your original post. 

Pete


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## peter dennett (Jan 28, 2010)

brr !!! that winter video makes me feel soooo cold hahaha Sorry omitted pension at 55, that is why I think might be able to get over sooner than had intended on my £50k. Other point I should add is that I want to get over while still life in the old dog etc...not ready for sitting back entirely just yet. So maybe more of a possibility after all


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## PeteandSylv (Sep 24, 2008)

peter dennett said:


> brr !!! that winter video makes me feel soooo cold hahaha Sorry omitted pension at 55, that is why I think might be able to get over sooner than had intended on my £50k. Other point I should add is that I want to get over while still life in the old dog etc...not ready for sitting back entirely just yet. So maybe more of a possibility after all


Are you sure you're not a politician? You're shifting the goalposts so rapidly!!!

The new information changes everything I've said!!!



Pete


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## peter dennett (Jan 28, 2010)

Absolutely not Pete ...has anyone got any respect for them these days ? Guessing that subject to having a pension guaranteed at 55 it could be a goer then ??


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## PeteandSylv (Sep 24, 2008)

peter dennett said:


> Absolutely not Pete ...has anyone got any respect for them these days ? Guessing that subject to having a pension guaranteed at 55 it could be a goer then ??


If it's a decent pension that you can live off then I would say yes, go for it.

Pete

P.S. Coming here won't get you an improvement in politicians at the moment. The President is head of the list for a paucity of grey matter.


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## peter dennett (Jan 28, 2010)

cheers pete...sounds promising. time to double check my pension then.....fingers crossed. Politics a young mans game these days ..best avoided at all costs (-:


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