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Old 04-11-2013, 17:43   #61
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Re: Retiring Aboard -- Ways & Means?

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Originally Posted by Amnesia II View Post
I found out today....!

Age Pension
You can get Age Pension for the whole time you are overseas, regardless of whether you leave Australia temporarily or permanently.
I went into Centrelink yesterday and they told me the exact opposite. Unless you have special permission you cannot be out of the country for more than 6 weeks.

Maybe you are in a country with reciprocal pension rights. I think some countries like NZ and the UK are exemptions.
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Old 04-11-2013, 18:54   #62
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Re: Retiring Aboard -- Ways & Means?

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We have not owned anything that's not aboard our boat for the last 12 years. There's a great freedom in no debt and limited ownership of stuff.
BUT you own everything that matters!
Congratulations!
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Old 04-11-2013, 19:09   #63
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Re: Retiring Aboard -- Ways & Means?

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I don't disagree with your first point- learning to live thriftily on land is an important starting point. I used to live in Yosemite under the talus boulders for about 5 dollars a day. But I wonder if we really need to move back to land?
If we anchor out in a quite bay with minimal weather, and go to town twice week or so for groceries. Or I can pay a marina slip fee, why move to an apartment? I trust my boat and car just as much as I would trust a house in the burbs and a car. I guess it is slightly more incovient to shower etc, but if that is the lifestyle you choose to live(and die at) why move?
I agree, live on the boat as long as it suits your lifestyle. I just think most people are at some point going to want to move back on land. The maintenance, the getting on and off, dealing with the weather, etc. just get to be too much. Maybe not until you get into your 80's or 90's, or maybe never, but most will I think. Good to have a plan B when the time comes.
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Old 04-11-2013, 20:18   #64
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Re: Retiring Aboard -- Ways & Means?

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Think again. Check with Centerlink. I found out today you can only be out of Australia for six weeks and they cut off your pension.
Makes sense...
If you arent in the country you cant use your govt pension to buy the drugs that the govt says you need to buy to stay alive.. That i am sure is the only reason you are allowed to recieve the pension..!
The govt are such Caring Understanding Noble Types arent they????!
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Old 04-11-2013, 20:59   #65
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Re: Retiring Aboard -- Ways & Means?

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I went into Centrelink yesterday and they told me the exact opposite. Unless you have special permission you cannot be out of the country for more than 6 weeks.

Maybe you are in a country with reciprocal pension rights. I think some countries like NZ and the UK are exemptions.
Ok, you it seems are right. From the Centerlink handout, here are two parts to the pension.

The "Age Pension" which is means tested but as long as you are an eligible person "can generally be paid for the total period of absence from Australia (some exceptions may apply), however after 26 weeks the rate may change"

Then there are whole list concession cards, supplements and allowances it is these that can be cancelled or suspended if absent for more than 6 weeks.

I was quite specific in my question about living and cruising overseas and was told by the Centerlink adviser that I would lose my pension after 6 weeks.

Lesson to be learnt ... don't believe everything the man (or in this case, the woman) tells you.
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Old 05-11-2013, 05:32   #66
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Re: Retiring Aboard -- Ways & Means?

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.............. I just think most people are at some point going to want to move back on land. The maintenance, the getting on and off, dealing with the weather, etc. just get to be too much. Maybe not until you get into your 80's or 90's, or maybe never, but most will I think. Good to have a plan B when the time comes.
We've always thought that this move back ashore is likely and the time will probably arrive due to health issues. We expect that at that age we will choose to rent something small near to our needs and still a small efficient space. Nancie and I have made special notice of the utility sheds that we see outside Lowes and Home Depot and we jokingly suggest that these would be suitable homes ashore for us! I can't imagine dealing with space more than about 500 square feet and we would be comfortable in less space that is well designed.
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Old 20-01-2014, 19:54   #67
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Re: Retiring Aboard -- Ways & Means?

Enjoyed reading this particular thread. If I may add my 2 cents. Three years ago, my consultancy business went tits up. I went nuts, wife was diagnosed with a brain tumor, and my best friend learnt that he has lung cancer. Today, my wife has recovered, my friend is still battling cancer and my business is still dead.

However! We have found happiness, renewed with the hope of our sailing adventure to begin in 3 years (100% live aboard sailing all over) We do not have the money to buy big, nor do we have the financial support to maintain our older lifestyle, but we have a boat which we will sail this year (our first a C&C 25) to learn how to sail and become familiar with the sport.

I do not care anymore about what things I have but just the fact that the people I love are alive with me. I enjoy every day more now than ever before. We are working towards our goal and we are enjoying each others company. So if a change of lifestyle is what you really want then just do it. But if you are worried about your financial wealth, you will never change. You cling to your possessions and they are wrapped around your neck like a noose slowly strangling your soul. I know! I lost a lifetime building wealth which disappeared almost overnight. I am happier today for the smaller joys and do appreciate the more important things in life and not the type of car I drive..
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Old 20-01-2014, 20:00   #68
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Re: Retiring Aboard -- Ways & Means?

Wise words Tightgroup! All the best :-)
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Old 26-01-2014, 05:33   #69
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Re: Retiring Aboard -- Ways & Means?

Ok, first part. There are many who do live aboard on the levels of income you'll have. But it means a particular life style and I may have missed it but I don't see what it is that has convinced you that you would like it. How much sailing experience? How much time have you spent on a sailboat? Anchoring? Moving around? My question is does this idea just have a romantic hold over you or have you actually experienced enough to know it's for you. If you haven't, then that's the first step, whether a charter or with friends, or a club.

Now, I'd also recommend reading some books by those who have lived aboard and others who have done long term sailing. Most of them show you the good and bad and give you a view of what it's like. There are many out there as we've read quite a few on kindle. Immerse yourself in their experiences. Concentrate too on those who have done it on limited income.

As to the costs of living aboard, if you go all the way, the monthly costs will be less than living in a house where you have a mortgage and maintaining cars. Of course you could also buy a condo with your equity and then you've got a comparable to living aboard. Or at some point a reverse mortgage is possible. So there are many approaches to retirement you can take.

Your wife is doing office support right now to keep income coming in. I would suggest you consider some temporary work as well. No, it's not in your profession and it pays poorly. But doing that as is your wife might well allow you not to dip further into savings. If your housing costs are requiring you to dip deeply then maybe consider a housing change now. But I do push for some type of lesser work as your goal right now isn't building a career, it's maintaining your worth. Also, doing lesser temporary work doesn't prevent you from taking work in your field if it comes along.

So, I do believe you will have adequate income to live aboard, in a certain style. I'm just a bit concerned as to how you've decided that's the lifestyle for you. Perhaps it's just because of things not said, but you've really experienced what is necessary to know it's right for you.
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Old 26-01-2014, 07:05   #70
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Re: Retiring Aboard -- Ways & Means?

I was kind of in the same situation. I took an early retirement from my job because I couldnt stand what my job had become and I couldnt/wouldnt do what was now required. My health was still good and I was only 50. I took a hit and started my pension early. My wife and I sold our house and all our "stuff". Its amazing how much stuff you accumulate after 30 years. We purchased a Benetau 285 ( I know, pretty small to live aboard) made some upgrades and took off. We have enough room, if you pack light, and enjoy each others company. The expenses are fairly low and we anchor out most of the time. You just have to decide if your willing to give up your "things" and take the plunge. My wife and I wanted a bigger vessel also but after looking at all the expenses assosiated with a bigger boat we opted for a smaller boat to have more money left over at the end of the month. You cant eat out every night and stay at a dock all the time, but a peanut butter sandwich every now and then while watching a spectacluar sunset has a way of making it taste like steak and lobster. You just have to decide what your willing to give up to make the leap. We have no regrets.
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Old 26-01-2014, 08:20   #71
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Re: Retiring Aboard -- Ways & Means?

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...I do not care anymore about what things I have but just the fact that the people I love are alive with me. I enjoy every day more now than ever before. We are working towards our goal and we are enjoying each others company. So if a change of lifestyle is what you really want then just do it. But if you are worried about your financial wealth, you will never change. You cling to your possessions and they are wrapped around your neck like a noose slowly strangling your soul. I know! I lost a lifetime building wealth which disappeared almost overnight. I am happier today for the smaller joys and do appreciate the more important things in life and not the type of car I drive..
Nicely written Tightgroup. I missed this first incarnations of this thread, but it is one close to my heart right now. My partner and I are heading off. We are "retiring" at mid-40s/early 50s. We have invested in ourselves and our boat, and have a small kitty saved. No pensions, no guaranteed income, but no direct dependents, no debts and little to hold us in place. So the time is right. We are going.

We are both ... the only term I can think of using right now is "tired". We're tired of this life ashore. I'm tired of chasing the illusion of safety and security, and all the stuff our society dangles in front of us all the time. On board we seem to thrive in each other's close company. On board we have time for a bigger life. Time will tell if this continues.

All we know is, it is time to try.
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Old 26-01-2014, 08:26   #72
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Re: Retiring Aboard -- Ways & Means?

I think the Island Packet 38' is the ideal cruiser. She has a lot of amenities, and storage space, but maybe I am partial to them, just saying.......
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Old 27-01-2014, 09:57   #73
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Re: Retiring Aboard -- Ways & Means?

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Nicely written Tightgroup. I missed this first incarnations of this thread, but it is one close to my heart right now. My partner and I are heading off. We are "retiring" at mid-40s/early 50s. We have invested in ourselves and our boat, and have a small kitty saved. No pensions, no guaranteed income, but no direct dependents, no debts and little to hold us in place. So the time is right. We are going.

We are both ... the only term I can think of using right now is "tired". We're tired of this life ashore. I'm tired of chasing the illusion of safety and security, and all the stuff our society dangles in front of us all the time. On board we seem to thrive in each other's close company. On board we have time for a bigger life. Time will tell if this continues.

All we know is, it is time to try.
Tired is a very good word for it! I hope we can meet up at sea, or anchored to a small paradise. More power to you!
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Old 27-01-2014, 10:31   #74
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Re: Retiring Aboard -- Ways & Means?

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Tired is a very good word for it! I hope we can meet up at sea, or anchored to a small paradise. More power to you!
Thanks. Yes, it would be great to cross wakes somewhere. In fact, we expect to be passing by Montreal in summer of 2015 as we head out the St. Lawrence.
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Old 27-01-2014, 11:02   #75
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Re: Retiring Aboard -- Ways & Means?

Strata-
Forgive me if this is old news & slightly OT, but have you gone to the SSA office to confirm your SS benefits and terms? Depending on which spouse made more, or exceeded what amounts, the "conventional" advice about when to start or defer, or whether to claim & then reject (defer) SSA benefits can be very different. You are likely to get an unpleasant surprise one way or another, unless you check it out in advance. So while you're still ashore...check it out.
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