Moving to Europe once I can access super
Not sure if this is a mad idea but I’m sure there’s others out there planning similar.
I’m single and childfree and not a high income earner but I do have a decent super balance for my age and around 500k equity in my house which is worth around 750k at present.
I love to travel but finances / family / pets / leave etc etc mean I’ve been limited to shorter trips once a year. When I was in my 20’s my plan was to do a working holiday in the UK but for various reasons it never happened. I feel like I have an itch to scratch as far as living longer term in the UK or Europe. Unfortunately I don’t have the option of any passport or citizenship other than Australia so that’s out.
It appears that there are some European countries that will let you obtain a visa with a passive income. I realise that I may eventually want or need to return to Australia but even if I could live in Europe for 5-10 years it would be a great experience and so much more interesting than the retirement lifestyle I could have in Australia. Obviously South East Asian counties are cheaper but I hate hot weather and prefer Europe so they’re out. I don’t need to live in a fancy, big house so renting or buying an apartment would be fine with me.
The plan would be to go as soon as I can access my super at 60 so I can get as many active and healthy years as possible. I’m hoping that between my super, money from selling my house and possibly some inheritance money I should be able to make it work. As far as later years or failing health goes the plan would be to make sure I have enough money stashed away to buy into some sort of retirement community back in Australia. I know these are a bad deal for when you go to sell but that doesn’t bother me.
I’m 48 at the moment so it’s a few years off yet and I realise visas can change but I’d love to give it a go.