# Irresponsible? Silly? Stupid?



## Littlewillow (31 May 2019)

Having worked all my life I blindly put away a few bob each week into AVCs and eventually ended up out of work at 58 because of redundancy. Now I work part time and earn about 300 each week. My partner is a sole trader and earns about €300 each week. On this money we seem to have a nice although simple lifestyle and manage a few holidays each year as well as a few meals out and a few concerts over the year. 

Over the years I saw a number of former colleagues reach retirement and fall into ill health soon after. Some friends too met the same fate. Some others passed away. I'm now 60 have no debts, no mortgage and a smallish pension pot of 320k sitting in a BOB with Irish Life in a lifestyle strategy pension fund. We own our home. My partner and I have about €35k emergency fund which we can access any time. 

I'm in good health and was thinking of cashing in my chips - taking about 80k as a tax-free lump sum and putting the rest in an ARF  or some other investment vehicle and touring Europe in a motorhome for a year or two with my partner. We intend to rent our house during that time and expect an income of about €1200-1400 a month. I'm no financial wiz but believe the rental income, topped up by another €500 to 600 a month (drip fed monthly from either the tax free €80k or a combination from the ARF) is more than adequate for our needs while living in the motorhome.

We also discussed downsizing and at a guess would have another 80-100k left over at some point after the sale of our current home which may or may not be sold before we go away.

So if we leave in 2020 on returning I think we'll need an income near to 26k  from 2022 (we will then be 62 and about 5 years from state pension which we both qualify for). We think we may not have the same level of outgoings because our house will be cheaper to run and we intend to use only one car as opposed to two. We also expect to get rid of our landline and broadband fees as our phones can fulfil the need for email, streaming, etc.

We are not too concerned about leaving anything - other than our home - by way of inheritance to our two adult children.

What do people think? Are these the dreams of a delusional dimwit or is it doable?


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## moneymakeover (31 May 2019)

Makes sense

And if you rent out your house at least it will be lived in (and looked after)

If you sell, and buy on return, that seems bit stressful ie where prices will be


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## Leo (31 May 2019)

Littlewillow said:


> We intend to rent our house during that time and expect an income of about €1200-1400 a month.



That after tax take along with the costs of appointing an agent to manage in your absence, RTB, etc.? Make sure you get up to speed on notice periods that will be required in advance of moving back into the property.


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## elcato (31 May 2019)

Sounds like a great plan. Be aware that there will be some tax implications on the rental income but should keep you in the lower 20% rate. Also I would do the downsize in one go or as little a timeframe differance as you can. You don't need the hassle of worrying about house price fluctuation in between buying and selling.


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## Gordon Gekko (31 May 2019)

At age 65, there is a 50% chance that at least one spouse will live at least 25 years.

Worth considering for all the talk of premature death.


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## so-crates (31 May 2019)

Sounds like a good plan to me. Very jealous  Do your homework first but by the looks of things you already are. As for your pension fund, most people in this country will have considerably less in their fund at retirement.


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## lledlledlled (1 Jun 2019)

Sounds like a class idea. The very best of luck with it. 
Be sure to check in with us on your travels and let us know how the plan is going.


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## NoRegretsCoyote (1 Jun 2019)

Beware notice periods on the new tenancy laws.

It may be more effective for you to airbnb your property than formally let it.

Two years sleeping in a van is a very long time.


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## Tintagel (1 Jun 2019)

Touring Europe in a motorhome could be a nightmare. A lot different to a week away in the sun and could prove a very expensive option. You could head down to Portugal and rent somewhere cheap. Use it as a base to visit other places. Flights are cheaper than petrol and toll roads. Also up to 40% discount on rail travel when you are 60 years of age.


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## Cervelo (1 Jun 2019)

One thing that stands out for me is the €2k a month traveling budget
That works out at about €65 a day which to me seems to low 
I haven't had any experience of touring in a motor home but have done a lot of road trips in Europe and USA and a rough budget for the two of us per day when you factor in everything is around €250 per day
I know traveling in a motor home will cut out some of the costs that I would have but have you factored in everything
Can you give us a breakdown of your budget ??


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## Littlewillow (1 Jun 2019)

Yes we have looked at that and are aware a couple can get by in Ireland on both pensions assuming a 'simple' lifestyle but on one state pension this is far more unlikely. As I've said this is a plan we've arrived at while observing how retirement plans have been scuppered because life got in the way. It's a big gamble, so Gorden Gekko, you reckon it is irresponsible, silly and stupid?



Cervelo said:


> One thing that stands out for me is the €2k a month traveling budget
> That works out at about €65 a day which to me seems to low
> I haven't had any experience of touring in a motor home but have done a lot of road trips in Europe and USA and a rough budget for the two of us per day when you factor in everything is around €250 per day
> I know traveling in a motor home will cut out some of the costs that I would have but have you factored in everything
> Can you give us a breakdown of your budget ??



I've been doing a fair bit of research by following blogs of those who are travelling around Europe in a motorhome. They all seem to agree on a budget of similar amounts. Most of these however, don't stay on campsites too often and opt for Aires and wild camping. Do you also think the plan is silly and not 'doable'?


Tintagel said:


> Touring Europe in a motorhome could be a nightmare. A lot different to a week away in the sun and could prove a very expensive option. You could head down to Portugal and rent somewhere cheap. Use it as a base to visit other places. Flights are cheaper than petrol and toll roads. Also up to 40% discount on rail travel when you are 60 years of age.


Thanks Tintagel. The point is to travel around in a MH rather than renting a house or apartment. That for us is the appeal.





elcato said:


> Sounds like a great plan. Be aware that there will be some tax implications on the rental income but should keep you in the lower 20% rate. Also I would do the downsize in one go or as little a timeframe differance as you can. You don't need the hassle of worrying about house price fluctuation in between buying and selling.





NoRegretsCoyote said:


> Beware notice periods on the new tenancy laws.
> 
> It may be more effective for you to airbnb your property than formally let it.


Yes we will brush up on tenancy laws and will also see a financial adviser before we commit.

I remember reading a piece here on AAM a few years ago by Bronco Lane who coined the phrase "living off the spray" and it stuck with me. I wonder do the numbers add up for us (€320k next egg plus a possible €100k gain from the sale of our house to a smaller house) and how long we could keep going after we come home - bearing in mind we will then have about 5 years to our state pensions?


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## Gordon Gekko (1 Jun 2019)

What about unforeseen medical expenses or nursing home expenses down the line?

And what about inflation, i.e. the risk that your income doesn’t enable you to even maintain your standard of living?


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## Thirsty (1 Jun 2019)

Go for it, travel while you can; there's no pockets in a shroud.


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## Littlewillow (1 Jun 2019)

Gordon Gekko said:


> What about unforeseen medical expenses or nursing home expenses down the line?
> 
> And what about inflation, i.e. the risk that your income doesn’t enable you to even maintain your standard of living?


We will always pay for private med insurance but feel we can't let all unforseen events stop us. As for inflation and running out of money these are questions I don't have the expertise on and hoped posting here will lead to enlightenment. TBH I've already done my fair share of "what if..." but Gordon Gekko you're bang on - these are legitimate concerns. 




Thirsty said:


> Go for it, travel while you can; there's no pockets in a shroud.


Thanks Thirsty I just want to make sure I can afford the shroud


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## Feemar5 (1 Jun 2019)

Regarding nursing home fees if you have money and property you pay - if you don’t the state will pick up most of the cost so enjoy traveling while you can.   Enjoy!


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## Saavy99 (2 Jun 2019)

Little willow, I think it's wonderful idea and you have done your homework. You don't need to come on here for advice because by looks of it you have always been prudent.  I doubt many people live to 95 and if they do, they stuck in rocking chair and probably 'doting'. You still young and healthy and you have the money and time to embark on the adventure of a lifetimes. Enjoy and please note a huge chunk of the population wouldn't come  near your nest egg on retirement. If I recall from previous threads, the average private pension in Ireland is less than a 100 euro a week!  That wouldn't take you far!


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## Bronco Lane (2 Jun 2019)

Littlewillow said:


> I remember reading a piece here on AAM a few years ago by Bronco Lane who coined the phrase "living off the spray" and it stuck with me.


And I still am. But with two state pensions and a small private pension. Also some savings to back me up. 

I am nearing 70. I still travel quite a bit (nearly every 6 weeks or so) but only for a week or so at a time. I need to touch base back home, I like Ireland. Sometimes you can overdose on beauty and need to get back to boring and plainness and to recharge. I find I don't have the energy that I used to have, something to think about.

I like my garden. I like growing my vegetables. I don't smoke. I drink very little and I am happy with simple home cooked food. I can live on my above income. Neither myself or my wife need to spend money on clothes/new kitchens/cars/fads etc

I can also downsize if needs be but if I do this I will be just adding funds to my existing pot of money, that I am not really spending.

I have about 5 road trips planned between now and next year. I have already done two this year. France and Austria. I use public transport when travelling abroad.  I have noticed that prices abroad have increased.

It's funny but we start each day by saying "Well we have €70 of our state pensions to spend today". I can assure you on our recent Austrian trip we needed this. Back home the bills are pretty relentless. You cannot get away from "fixed charges". You cannot tax your car for a month at a time, avoid the relentless health insurance increases, the cost of getting any handyman in to do a job has gone through the roof. There is also the paperwork to deal with. How will you deal with this when travelling through Slovenia? Where will this paperwork be posted to, if you rent out your home?

If you want to travel in a motorhome for two years I would go for it but I would break in to it gently.  Maybe start off with the obvious France and Spain for a few weeks each time before doing the big trip.


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## Cervelo (2 Jun 2019)

Littlewillow said:


> Do you also think the plan is silly and not 'doable'?


On the contrary, I think your plan is doable in fact I think its very doable, from your OP you seem to indicate that with a few little life adjustments that you can live the life you want quite comfortable on 2 state pensions and until they kick in you have savings, pension fund and a property that can be rented or downsized to provide further funding.
Whether its "silly or stupid decision is a question that really only you and time can answer, I would say go for it you've got nothing to lose except regret


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## Littlewillow (3 Jun 2019)

Saavy99 said:


> Little willow, I think it's wonderful idea and you have done your homework.


THanks Saavy99 but I haven't really ran the numbers - I'm pretty poor at that kind of thing.



Bronco Lane said:


> And I still am. But with two state pensions and a small private pension. Also some savings to back me up ... If you want to travel in a motorhome for two years I would go for it but I would break in to it gently.  Maybe start off with the obvious France and Spain for a few weeks each time before doing the big trip.


Glad to hear it and I imagine this is a busy time for you sowing courgettes, carrots, peas, etc. It's funny how time starts to run out in late May early June for veg growers! The "spray" I'll be living off will not be as abundant - no pensions yet. This is where I'm a little worried. From what I can gather I can manage living in the MH (motorhome) on the rent from our house  and I will have a little emergency money but bridging the gap after we return to the receipt of our state pensions is a little complicated. Looks to me like I have to take 80k as tax-free lump sum. Place 63,500 in an ARF - untouched - until I'm 75 and draw a minimum of 4% from the remaining €175/180k. Back of the envelope calculations indicate we may have about 90k before we get the state pension excluding the money locked away til we are 75. And yes you make a good point re trying it out in small steps first. We plan a few "shakedown" trips to familiarise ourselves with the lifestyle and the vehicle.




Cervelo said:


> Whether its "silly or stupid decision is a question that really only you and time can answer, I would say go for it you've got nothing to lose except regret


Yes but with the various opinions here I can make a more informed decision - I think


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## NoRegretsCoyote (3 Jun 2019)

Littlewillow said:


> I've been doing a fair bit of research by following blogs of those who are travelling around Europe in a motorhome. They all seem to agree on a budget of similar amounts. Most of these however, don't stay on campsites too often and opt for Aires and wild camping. Do you also think the plan is silly and not 'doable'?



In the winter you have to chase the weather, so you have to go south.

Do you really think you'll enjoy spending your days at truck stops in southern Italy? It won't freeze, but when it rains and it's 8 degrees outside you will probably regret not having a home to fly home to.


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## PaddyBloggit (3 Jun 2019)

Would you not consider downsizing at home so that you'd have a base to come back to if/when the weather gets bad and cabin fever sets in?

Travelling around in a motor home sounds great ... but long-term ... might be a step too far.

I'd also be afraid that you don't have enough money in the pot to sustain a reasonable time on the road financially.

What type of motor home are you thinking of buying? That choice in itself will throw up a lot of connotations.


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## Leper (3 Jun 2019)

I'm enjoying this thread and I wish Littlewillow all the best in retirement and subsequent travel. It all sounds great and of course we would all do it if we could (just thoughts). The reality is not as easy as first thought. For example (for the sake of discussion) Littlewillow heads to Spain (I am not too familiar with vehicle laws elsewhere).

1. The vehicle is  allowed in Spain for only 29 days afterwhich it must be re-registered to have Spanish number plates. The vehicle will have to undergo the equivalent of our NCT but with much more strict demands e.g. all tyres must identical and of the same manufacturer. If everything is perfect on the campervan the re-registration cost will be around €1000.00.

2. From July to mid September (in Spain) the campervan will need almost continuing working air conditioning. (More cost). Try the south of Spain without airconditioning and believe me you won't ever have to go on a diet. Multiply this by the time you spend in southern France, Portugal etc.

3. You need the trust of an honest real estate agent to rent out your Irish home. You will be an absentee landlord and powerless when you go beyond Dún Laoghaire.

As it is, you're onto a winner. No great family demands. You're happy in your skin. The simple GAA rule for banisteoirí is not to change a winning team. It appears you have a winning team.

Hold on! Littlewillow appears to have a lot of sense. You can rent a good located two bedroom apartment in the south of Spain for around €800 per month in the off season (all utilities included). Does it make sense to buy a campervan?


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## Saavy99 (4 Jun 2019)

I think he should try it out. I go away to. Southern Portugal in the winter months, stay in apts but I see scores of MH all over the Algarve, many coming from Northern Europe.


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## Littlewillow (5 Jun 2019)

PaddyBloggit said:


> Would you not consider downsizing at home so that you'd have a base to come back to if/when the weather gets bad and cabin fever sets in?


Yes PaddyBloggit we will have a base here. 



Leper said:


> 1. The vehicle is  allowed in Spain for only 29 days afterwhich it must be re-registered to have Spanish number plates. The vehicle will have to undergo the equivalent of our NCT but with much more strict demands e.g. all tyres must identical and of the same manufacturer. If everything is perfect on the campervan the re-registration cost will be around €1000.00.


Leper could you direct me to this rule as I haven't heard of it before?

To be clear the plan is to experience life on the road including the winter months. it's the finances I need to explore initially - things like ARF expected rate of return; 'safe' withdrawal rates while bridging the gap to state pension; etc. Cost of setting up ARF/annuity, etc.


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## Leper (5 Jun 2019)

Hi Littlewillow. It is known as the "29 day rule" and was enacted in Spain because of the amount of hit-and-runs by foreign registered cars (usually right-hand drive). The rule is there for at least three years. 

For our holidays we used to use our 2nd car (Limerick registered) which we kept fulltime in Spain. It was just a case of of transferring insurance from our main car when we visited. We re-registered our car in Spain as we were obliged to do with Spanish registration plates. It cost us €800 at the time. The Spanish "NCT" was another matter and we were considered fair game to get screwed.

However, I'm not answering the question you asked so have a look at some caravanning or ex-pat websites (e.g. [broken link removed] or www.expatforum.com. You should have no difficulty in locating references.


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## Leper (5 Jun 2019)

I should have pointed out that you may be able to circumvent the regulations by driving into Gibraltar or France for at least a day before returning to Spain. I can't confirm this.


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## NoRegretsCoyote (5 Jun 2019)

Leper said:


> Hi Littlewillow. It is known as the "29 day rule" and was enacted in Spain because of the amount of hit-and-runs by foreign registered cars (usually right-hand drive). The rule is there for at least three years.



I am not sure about this. 

European Commission website says that you have six months to register your vehicle after taking up residence in Spain. Likewise, your third-party insurance is valid in the country where you are originally resident (Ireland) for all driving within the EU until the expiry of your policy.


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## MangoJoe (5 Jun 2019)

Hi Littlewillow - I really enjoyed reading through this thread - You're impressive in your outlook and I completely agree with your sentiment.

You've the perfect mix of romance and spirit coupled with prudence and planning to make a success of this.

Perhaps in time your own blog of your adventures will serve others well - Do please return someday and post a link!

- As I see it your biggest risks are talking yourself out of this...…or allowing others to dissuade you.....


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## Leo (5 Jun 2019)

More on the Spanish regs here. The 30 day rule applies to those taking up residence in Spain. The limit for those not seeking to take up residence is 180 days, but only the owner is allowed to drive the vehicle.

The OP will need to investigate the insurance side thoroughly though, most camper van policies have limits on the number of days the vehicle is insured for abroad. NCT/DoE road worthiness certs will also need to be maintained.


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## Leper (5 Jun 2019)

Some of us are getting a little confused. Littlewillow is not taking up residence in Spain. If he remains in Spain beyond 182 days (in a rolling year) he will be liable for income tax and a plethora of other taxes + private health insurance + proof of pretty substantial income. I am certain that holiday makers can only have their own Irish registered car in Spain for no more than 29 days without being re-registered in Spain for Spanish number plates.

I am unable to find a website to confirm this (not unusual in Spain). However, I have found several websites that cite the six-months rule for people seeking a "residentia."


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## NoRegretsCoyote (5 Jun 2019)

Leper said:


> I am certain that holiday makers can only have their own Irish registered car in Spain for no more than 29 days without being re-registered in Spain for Spanish number plates.



Can you find any evidence to support this?

The EU website I pointed to says that even after you have registered to live (which the OP will not even do) you have six months to register the car. How is the OP supposed the register a vehicle without a Spanish residence?

The same website says that for insurance your third-party policy is valid throughout the EU until its expiry, which could be up to a year.


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## RedOnion (5 Jun 2019)

NoRegretsCoyote said:


> The same website says that for insurance your third-party policy is valid throughout


Your motor policy probably has a clause that overrides that.

E.g Aviva:
Using your car abroad
We will automatically extend your policy 
to include the terms of endorsement 
PC69, providing full policy cover within 
the EU, for 31 days in any ‘period of 
insurance’, for your car.
The following cover does not apply 
when you are using your car abroad.
• Driving other cars under 
Section 2 D (page 17)
• Section 6 – Breakdown Rescue.
If you need a Green Card, we will give 
you one free of charge. Please contact us 
at least one week before your journey.


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## Leo (5 Jun 2019)

Leper said:


> I am certain that holiday makers can only have their own Irish registered car in Spain for no more than 29 days without being re-registered in Spain for Spanish number plates.



The 6 month (183 days really) rule is standard across the EU, countries can set individual limits on how quickly the car must be registered after arrival for those taking up residence in their country, but they can't reduce the 183 limit for non-resident EU citizens driving their own cars.


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## NoRegretsCoyote (5 Jun 2019)

RedOnion said:


> Your motor policy probably has a clause that overrides that.



Probably for damage to your own car.

For third-party cover (aka civil liability) EU law is pretty clear :



> Article 14
> 
> Member States shall take the necessary steps to ensure that all compulsory policies of insurance against civil liability arising out of the use of vehicles:
> 
> ...


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## Cervelo (5 Jun 2019)

I know from my last two trips to Spain in my car I had no issue re reregistering my car to Spanish plates
one was for three months and the other four and a half, having said that I wasn't stopped by the police so maybe I just got away with it
I'm planning to go later this year for six maybe seven months and have no intention of changing the plates as I don't reckon it to be a major issue
Though I will say that my experience with the Spanish police seems to be that they are very strict when it comes to the rules of the road
I got pulled over in Spain last time for wearing headphones and for not cycling in the hard shoulder or at least that's what I think he pulled me over for as I didn't really understand what he was shouting at me, I've also heard of cyclists been fined for speeding and not carrying identity cards 

I have briefly talked to my car insurance provider Aviva about traveling in Europe for six plus months at renewal and they indicated that it shouldn't be a problem, up to three months is free of charge you just have to notify them of the countries you intend traveling to.
More then three months will incur a charge and will depend on if they want to extend the cover for you


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## elacsaplau (5 Jun 2019)

MangoJoe said:


> Hi Littlewillow - I really enjoyed reading through this thread - You're impressive in your outlook and I completely agree with your sentiment.
> 
> You've the perfect mix of romance and spirit coupled with prudence and planning to make a success of this.
> 
> ...



Nice one MangoJoe,

Sometimes you've just got to do it! A few weekends ago, I spent €700 on a seminar on re-incarnation. Normally, I'd baulk a little at such expenditure but then I reminded myself that you only live once.


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## NoRegretsCoyote (5 Jun 2019)

EU law also forbids the explicit targetting of foreign-registered cars for the purposes of insurance checks.


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## Leper (5 Jun 2019)

I am pleased to say that I got that wrong. You can drive your Irish registered vehicle in Spain for six months and there is no issue with having to apply for Spanish number plates. (For the record, I put up a query on another forum and it was answered).

Apologies, for sending anybody in the wrong direction.

Lep


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## Bronte (5 Jun 2019)

- Make sure you get the EU health card
- As regards heat, stay away from hot countries in the summer
- I imagine there are English blogs about doing this venture
- If you stay out of Ireland long enough you'll pay less tax
- Leave mid year as that's half way thru a tax year
- make sure you know the residency rules along the way and how it might impact you. Like Leper about the one month rule in Spain, just pop into portugal for 24 hours if that restarts the clock
- know which Aire's/rest areas are safe, I remember one near Marseille where we pulled into with the children and WE got weird looks from the Prostitutes, same thing happened to us on the border between Czech republic and German (without children that time). But this was not an Aire but a border town which we didn't realise that all the German men go there as it's cheaper
- If you're desparate to cool down, go to a supermarket or hotel.  They normally are air conditioned. And you can sip a coffee in France etc for a whole morning.
- In Italy coffee standing up is cheaper
- In northern Spain they give you so much food with anything you drink that you don't need dinner !
- Stock up in the cheaper countries like the Dutch do when going camping in France
- Don't drive in the middle of the road in France like the Belgians do
- Don't park in supermarkets like I saw an Irish traveller family do a couple of years ago
- Check the parking rules each place, never mind country you are in.  Where I live there are different rules on roads within 1 minute of our residence !
- Some places have markets so parking rules would be different on those days - as an example. And I know in Italy Sunday is treated as a normal day as far as I can tell
- We've travelled all over Europe by car.  It's generally safe.  But you can never be too careful.  You don't want someone from the East hightailing it back there with your home on his back !
- Don't assume the lovely Irish you meet are nice. They might not be.  More often than not they will be.  If you put an Irish flag on the back you never know how that might be helpful to you.  I spot an Irish number plate the odd time.  I helped a woman in a car broken down with kids once who had just moved abroad and she had a near mental breakdown in the car ahead of me. I brought her son to a birthday party that very same day and I'd never met her before ! She stayed with her vehicle and other child !!
- Lastly, you're dead right to do this, please let us know each day/weekly how you are getting on.

And if you make it near me, I'll bring you home for dinner free gratis.  I'm sure Leper will do the same in Spain.  Then there's Jim in Switzerland etc etc.


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## MangoJoe (5 Jun 2019)

......Can I please visit too Bronte...…(!?)

I'm suddenly imagining a protracted trip around Europe visiting the venerable Sages of AAM one at a time.......


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## moneymakeover (5 Jun 2019)

Bronte said:


> And if you make it near me, I'll bring you home for dinner free gratis.


Very generous, which country ?


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## Firefly (6 Jun 2019)

Hi Littlewillow,

Wonderful thread. Firstly I think you are right...most people put off having fun until it's too late, so well done.

Just a few observations:

Regarding renting out your current home, I would be very slow to do this. Tenants are getting more & more rights but landlords are not. You could easily find yourself with a "bad" tennant and this would zap any enjoyment you will have on your tour.

I think I would seriously consider down-sizing if you could get something you were both happy with. An extra 100k in the pocket would give you complete control to come & go as you please. No tennants to wory about, no PTRB, agencies, tax returns, repairs etc etc.

I'm also wondering would the initial thrill of the freedom of a motorhome wear off after a few months? Initially it would be great, but for me, living in campsite / parks after a while would be "samey" and I'd probably miss certain things about home. Also, if you decided to come home during this stint it could start getting expensive and also troublesome storing the motor home etc. 

If it were me, I think I would downsize and head away, say in October and plan to come back in March. Then plan the next trip for the following Autumn.

In any case, best of luck. I have a similar plan in mind myself but am too far away to get excited.

Firefly.


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## elacsaplau (6 Jun 2019)

That's a really nice post, Firefly

The lure of travel that Littlewillow has so ably set out is, indeed, attractive. Reminds me of my dad back in the day - he would oft times break out into:_ Think I'll pack it in and buy a pick-up, head out to L.A._


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## Firefly (6 Jun 2019)

elacsaplau said:


> That's a really nice post, Firefly
> 
> The lure of travel that Littlewillow has so ably set out is, indeed, attractive. Reminds me of my dad back in the day - he would oft times break out into:_ Think I'll pack it in and buy a pick-up, head out to L.A._



A favourite song (and album) of mine. Think a nice, long walking-lunch is on the cards today!!


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## Littlewillow (6 Jun 2019)

Leper said:


> I am pleased to say that I got that wrong. You can drive your Irish registered vehicle in Spain for six months and there is no issue with having to apply for Spanish number plates. (For the record, I put up a query on another forum and it was answered).
> 
> Apologies, for sending anybody in the wrong direction.
> 
> Lep


No problem Leper.



Firefly said:


> Hi Littlewillow,
> 
> Wonderful thread. Firstly I think you are right...most people put off having fun until it's too late, so well done.
> 
> ...



Thanks Firefly. We will downsize, but it's the lure of the road and different places every few days/weeks is the attraction.



Bronte said:


> - We've travelled all over Europe by car. It's generally safe. But you can never be too careful. You don't want someone from the East hightailing it back there with your home on his back !


Thanks for the info Bronte. Yes we have been keeping up with a number of blogs by fellow travellers and security is a serious consideration.

On a more general note, I've done a fair bit of homework on where to visit/stay, what equipment we need, documentation, etc. It is the financials I'm primarily interested in. 
Things like what ARF to choose - if indeed it's an ARF we need? This sounded attractive because of the "passive income" aspect. Things like how much we will erode the smallish pension pot we have now to help bridge the gap to state pensions - and what will be left? 
Should we be looking at passive income using ETFs - bearing in mind we have no financial knowledge. Renting out the house is a gamble but hopefully we will be good in our selection of tenants and this ties in with the passive income concept. 
Maybe the Moneymakeover section was the wrong forum to pose these questions - although I've gained a lot of knowledge already from the various responses so far.



elacsaplau said:


> That's a really nice post, Firefly
> 
> The lure of travel that Littlewillow has so ably set out is, indeed, attractive. Reminds me of my dad back in the day - he would oft times break out into:_ Think I'll pack it in and buy a pick-up, head out to L.A._


Yes I'm obviously of that vintage and like the song too even tho' I plan to head out for a little more than the weekend, hence my interest in whether it's doable financially.
ARFs, Annuities, Pension pots, passive income, tenancy laws - i just hope my head won't be wrecked. And speaking of pots I also hope I'll have one to do you know what in when we do come back


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## Saavy99 (3 Oct 2019)

Little willow, have you decided to take the plunge, 2020 is drawing near.


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## Littlewillow (3 Oct 2019)

Saavy99 said:


> Little willow, have you decided to take the plunge, 2020 is drawing near.


Hi Saavy99. We are still on track, however, I still have not got a handle on how to deal with the "pension pot". Spoke to a financial advisor, who reassured me he was only acting in my interest, but was extremely cagey with advice. He did outline initial charges for what he called a "financial plan" and said there would be an annual fee of "1.2% or thereabouts" for ongoing admin and advice but neglected to get into specifics without a commitment on my part. I couldn't give this as I didn't know what I'd actually get? I know it's difficult for somebody who earns a living giving advice because they run a risk of a potential client doing a runner with the info but I needed to know what are the typical funds I may end up in and needed to get a good idea of expected returns/losses. Details were not forthcoming. Simple things such as what funds would he suggest for the AMRF, how to explore what level of risk I could/should handle, etc. Also we are going to do a little work on our home prior to putting it on the market in Spring. In the meantime I'm doing a little research (just about to buy a book called Investing Demystified) on investing and asking some honest questions as to how much I could take from my pot to bridge the 7 years before getting our state pensions. But yes we will still take the plunge hopefully near mid-summer 2020 however, we won't rush - Portugal, Spain, Italy, Norway, etc are going nowhere - as I want to ensure it is a doable and realistic plan before execution.


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## kickstart (3 Oct 2019)

This is a fascinating thread. I've a question, rather than an answer. I think most of your points have been addressed quite well already. As you currently have a job, and pay PRSI etc, you are possibly/probably still on track for the full contributory state pension when you hit 66. If you stop working and paying PRSI at 58/59, will this leave you short of stamps, and on a reduced state pension? I recall that they need to see an average of 48 paid up weeks per year, with the average running from your first pay check to age 65 to pay the top amount.


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## Susie2017 (3 Oct 2019)

Just wondering - If you work until 60 and then retire will your State pension be reduced ? Say you have 30 years public service class A PRSI.


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## muinteoir (4 Oct 2019)

You could do an exchange with your house through a site like Intervac or Home Exchange. That way your house could be occupied but not rented so you wouldn't have the complications that you would have with renting out the property. You would have the opportunity to stay in places anywhere in the world. You wouldn't have a rental income though. Some people request quite long swops such as 4 or 5 weeks.


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## Gorteen (4 Oct 2019)

I love the fact that your retirement isn't just about sitting at home and growing old. Life is for living


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## mtk (8 Jun 2020)

Littlewillow said:


> But yes we will still take the plunge hopefully near mid-summer 2020 however, we won't rush - Portugal, Spain, Italy, Norway, etc are going nowhere - as I want to ensure it is a doable and realistic plan before execution.



Littlewillow,
Fascinating thread.....good luck with it all
How is the planning shaping up/ is it deferred with covid?
mtk


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## Littlewillow (8 Jun 2020)

mtk said:


> Littlewillow,
> Fascinating thread.....good luck with it all
> How is the planning shaping up/ is it deferred with covid?
> mtk


Hi mtk, yes Covid 19 scuppered our plans from both a travel and financial perspective. We think travel is out until there's a vaccine and also the pension pot - relatively small that it is - took a big hit. We've decided to wait a while and aim for Sept or Oct 2021. TBH we are more determined after experiencing 'lockdown' - which from a personal perspective was great. Obviously for many it was both awful and tragic but thankfully we were untouched by heartache and sadness and being blessed with the weather we found the time peaceful and productive. Hopefully next year will be better for everybody.


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## Bronte (8 Jun 2020)

MangoJoe said:


> ......Can I please visit too Bronte...…(!?)
> 
> I'm suddenly imagining a protracted trip around Europe visiting the venerable Sages of AAM one at a time.......


What about the Corona virus!


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## wheeler dealer (10 Jun 2020)

Is it really such a good idea to up sticks for a full year and rent out your dwelling .God forbid if either of you or any family got ill .It seems you enjoyed lockdown at home maybe you just need a change of scenery for a couple of months at the time


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## Khublei (11 Jun 2020)

Sorry to hear plans are scuppered, but great to hear you're more determined than ever. Life is for living. 

I got a payout at 18 after a car crash. Everyone said to invest. I went travelling for a year at 22 and don't regret a single penny of what I spent. 

Hope it works out for you!


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