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Rental of PDH and move abroad to rent

  • 12-01-2017 2:35pm
    #1
    0876542080abc
    Registered Users Posts: 6 ✭


    Afternoon
    I was hoping to outline our circumstances below to see if anybody had done, or knows of anybody that did similar to see if there were any pit falls advice etc.

    - Both myself and wife retiring this year at 58 years of age
    - Wife is a teacher, paying full AVC's since beginning work at 19. Currently has post or responsibility plus masters top up on wages.
    - My pension is worth €1170 pm plus lump sum €135K
    - As well as PDH we have an investment property (apartment) - both mortgage free.
    - Kids are still in college but enough savings set aside to finish them out.

    -Plan.....
    we are both enthusiastic travelers, in good health and our plan would be to use the apartment above as our base of operations, (where we would spend a couple of months in the summer, visits etc, )
    We intend to pick a different country and live in this country for 6 - 9 months of the year, living in long term rentals.
    We would also use rental income from our PDH to fund the lifestyle ( approx €2100 pm)

    Most of the countries & properties we have looked at all come in at circa €1K per month or less rental.


    Any of you fine folks have any advice, know of people doing something similar i.e. using PDH rental income to fund part / full time foreign based retirement...or indeed any potential pitfalls etc.

    thanks

    Bryan


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