Retiring to Sydney, Australia: Is it possible to live there on €700/mth pension?

C

cheztommy

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I was thinking of retiring in a couple of years to Sydney and was wondering if it would be possible to live on 700 euros net per month pension. Any advice would be welcome
 
Moved from Overseas Property Investment To Other Financial Issues.

Ive expanded your title somewhat.

Try googling .

http://www.expatforum.com/
Retiring to Australia

Have a look at some of the British Expat forums. Once you get over the whiny tone they can be quite interesting.

It might be worthwhile investigating the Irish emmigrant communtiy in Sydney.

[broken link removed] Business Post article (dating to 2000 by the excellent Aileen Power) deals with the tax implications of retiring abroad.
 
Hi, it would really depend on what part of Sydney you were considering going to and if you will be renting/buying home, etc. Stayed in Sydney in January and what struck me about Australia in general was that the cost of living was very very similar to here for lifestyle, food, clothes, etc. If you could live here on that amount then you could probably live there. Certain items were cheaper, certain items more expensive, but all things would balance out.

Cars were a lot cheaper than here, but petrol (near Sydney anyway) was the same price.

As an aside, watched an article on TV there about the level of repossession of homes in Sydney being on a rapid increase. Think mortgage rates were about 8% when I was there.
 
You could live in Australia fairly easily for that, not Sydney however which is about the same price as Dublin!!! (More public facilities, better outdoor life and climate however).

Up North, i.e in Cairns where they are in the sub-tropical climate band (i.e very hot, tropical rains etc) the cost of living is half that of Sydney... same with Perth on the west coast, approx 2,500 km from Sydney.

Brisbane is your best bet, 1,000km North of Sydney, significantly cheaper, 300+ days of sunshine a year.

Of course you could try Sydney but 700 Euros a month is only barely enough to live anywhere!

edited to add...
It depends on what you need the money for... if everything, like rent, food and clothes then you will struggle, or just barely make it... if it is just food and clothes it would be easier.
 
JoeBallantin said:
Of course you could try Sydney but 700 Euros a month is only barely enough to live anywhere!
Click to expand...

€700 pm would get you well sorted in Thailand. You could have 365 days of sunshine (in the morning only as you'll have rain in the afternoons during the raining season).
 
One pertinent point is that most Sydney folk retire to somewhere cheaper lke the gold coast
 
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