Retired Couple - Losing savings to inflation

cremeegg said:

When I grow up I want to be Leper.

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I think we all do !

Leper said:

I wasn't going to respond to this, but I share similarities. Trying to beat inflation is like trying to stop day going into night. Most likely, for us mere mortals it cannot be done, but you can take steps to reduce the worst impact of inflation. Investing in your late 60's is likely also folly and worse again stressful..

Ordinary cost of living in Ireland is expensive. Electricity is dear, so is gas, petrol, internet and almost everything else. Move to Spain or Portugal or Italy for twelve weeks over the colder months and you can live much cheaper. OK! - You have to pay for flights, transfers, accommodation rental. When abroad you live cheaper depending on your lifestyle. Electricity is not cheap on the continent, but you use a hell of a lot less. Neither do you drive as much as you would in Ireland (optional). Wine, beer etc are a fraction of what you would pay in Dublin. If you smoke you're into huge savings immediately.

Book your cheaper flights as early as you can after booking accommodation. You're not going on holidays - you're just temporarily changing your lifestyle for a while and all the sunshine is bonus. You don't have to stay in the dearest areas and good (centrally located) accommodation costs €900 per month with internet, electricity, refuse, cleaning, water charges included. You can get cheaper, but , , , Figure out a way to make it work for you (and that ain't too difficult) and suddenly you're in clover (well, competing with and not giving into inflation for a change). And when you wake up every morning you can read your brains out, surf the net, walk til you drop and hey! live in shorts and tee shirts while most nearly freeze in Ireland.

Alternative:- Carry on as is . . .

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Hi Leper. What websites do you use to book your long term let's?

Inflation (CPI) was 2.9% in the year to March.

AIB (amongst others) offer 2-year term deposits @3%.

I really don’t see the problem here…

The OP was june 2023. Inflation was higher then.

Leper said:

. You don't have to stay in the dearest areas and good (centrally located) accommodation costs €900 per month with internet, electricity, refuse, cleaning, water charges included. You can get cheaper, but , ,

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Thanks for all your lifestyle advice and comparisons - which I hope to emulate some day. Have you any suggestions on how to find properties like yours, as that is my only real concern (don't know where to start)?

joe sod said:

This must be resisted enough of this imposing costs by unelected bureacrats

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Elected politicians set all of tax and MUP policy.

euroDilbert said:

Thanks for all your lifestyle advice and comparisons - which I hope to emulate some day. Have you any suggestions on how to find properties like yours, as that is my only real concern (don't know where to start)?

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I have posted on this forum the dos and don'ts of renting property (long term and short term) abroad. My advice is good and reduces the possibility of being scammed or being ripped off.

in a nutshell:-
1. Word-of-mouth recommendations are best.
2. Ask direct questions from the owner/agency.
3. Good local transport is vital.
4. Internet is important these days.
5. Heating
6. What television stations are there?
7. How far is the holiday home from a safe and good beach?
8. Is the holiday home isolated? Remember in off season the whole resort might be isolated (you heard it here first).
9. Are there walks on the level?
10. What amenities are there there?
11. Is there an uphill walk to the holiday home? (More importan that you would first think).
12. Easy transfer? + cost
13. How much does the rental cost? Are there any extras eg electricity, water, refuse, cleaning, administration, finding fee etc charges? Know what the entire rental will cost - don't leave yourself open to any hidden extras and back up your "acceptance" by email mentioning any possible extras.
14. Rent privately from an Irish owner.
15. How far is the walk to the nearest supermarket (and I don't mean a shed with "Dunnes Stores" roughly painted over the door. Does the supermarket do home delivery?
16. If a handrail is necessary for you to climb steps ask if there is a handrail.
17. Is the deposit refundable? Likely, it will be refunded after rental period.
18. If electricity is paid by inserting coins into a meter don't rent - you will be ripped off repeat you will be ripped off.
19. If the owner is not answering your questions easily or is dodging some questions - don't delay further and rent elsewhere.

The above list is my immediate thought; likely there are other issues.

If you can't rent privately DoneDeal might be a good place to start. You can easily contact estate agents in whatever resort, but be mindful they are professionals and can tell lies by disguising the truth. The last thing you want is the view of a high white wall oblitering every other view.

Most Women are better booking accommodation than most men - If this is a sexist view, I don't care! - It's the full truth.

If you are bringing a dog ensure the owner has no objection. Some holiday home complexes don't allow animals.

All holiday home owners rent out their holiday homes no matter what they tell you and their "profit" is mainly in repeat rentals where they don't have to advertise, pay an agent etc. Book as far in advance as you can, use your head booking flights and transfers.

No matter with whom or where you rent be careful.

Leper said:

I have posted on this forum the dos and don'ts of renting property (long term and short term) abroad. My advice is good and reduces the possibility of being scammed or being ripped off.

in a nutshell:-
1. Word-of-mouth recommendations are best.
2. Ask direct questions from the owner/agency.
3. Good local transport is vital.
4. Internet is important these days.
5. Heating
6. What television stations are there?
7. How far is the holiday home from a safe and good beach?
8. Is the holiday home isolated? Remember in off season the whole resort might be isolated (you heard it here first).
9. Are there walks on the level?
10. What amenities are there there?
11. Is there an uphill walk to the holiday home? (More importan that you would first think).
12. Easy transfer? + cost
13. How much does the rental cost? Are there any extras eg electricity, water, refuse, cleaning, administration, finding fee etc charges? Know what the entire rental will cost - don't leave yourself open to any hidden extras and back up your "acceptance" by email mentioning any possible extras.
14. Rent privately from an Irish owner.
15. If the owner is not answering your questions easily or is dodging some questions - don't delay further and rent elsewhere.

If you can't rent privately DoneDeal might be a good place to start.

No matter with whom or where you rent be careful.

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Thanks for all the pointers. I will also search for your other posts on the forum.
Having visited Lisbon, I am only too well aware of point 11 !

Dr Strangelove said:

Elected politicians set all of tax and MUP policy.

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They might have passed the law to allow MUP but they don't set the price, that is being set by an unelected ngo organisation. That's the problem today the government has delegated alot of their powers and duties to unelected organisations funded by the tax payer.

joe sod said:

...but they don't set the price, that is being set by an unelected ngo organisation.

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Which NGO? There's none mentioned in the Act?

(3) Subject to subsection (4), the Minister may, from time to time, by order increase the minimum price per gram of alcohol for the purposes of this Act.

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