Difficult money ques.

[yendis71]

My wife & I want to move to France (from the U.S.) & have a $300k portfolio (going down daily these days).
The sale of our house would net us about $325k.
Health insurance (w/ pre-existing conditions) for seniors would cost us about $20k/yr for both of us.
Our combined income would be about $3,700/mo.
We would be only moving a car & personal items (no furniture).
We plan to buy a house (probably rent first) in the Maritime-Charante region of west France.
I know it's hard to answer this, but based on this gen'l info, any idea if we can afford to live there?
Thanks for your time------Sid

[Bevdeforges]

Sounds reasonable to me, but I live on the local economy here. You also don't say whether that monthly figure includes the health insurance or not.

One big consideration for retirees coming to France is the exchange rate. If it takes a sharp turn one way or the other, you could be either in fat city or in the dumper before you know it. (It's the eternal threat hanging over the heads of US expats here.) Generally, you can live much cheaper in France than in the US, especially in the countryside, but that's assuming you live a more or less countryside lifestyle. Gardening helps, as does any number of other "hobbies" like hunting or fishing. (Rising food prices have been a major concern here in France for many months now.)

One thing, I wouldn't bring a US car. Even if it's a "world model" chances are you will have trouble getting parts in order to keep it running and it may well fail in some way to get you through the "controle technique" (the bi-annual inspection) due to different requirements. Used cars in decent condition are available here at quite reasonable prices - and in order to sell a used car, it has to be inspected on transfer so at least you're assured it has passed.
Cheers,
Bev

[giantpanda]

Our combined income would be about $3,700/mo.
-Sid[/QUOTE]

Hi!

Is that the sum available, after the health insurance, after a rent?
Does it include possible interests from your papers?

If the 1st answer is YES, then it is possible, as long as you keep away from the big towns.

Do you thing you can sell your house in USA ? From what we hear ( which is of course limited ) , it seems to be rather difficult without large price reductions?

Yours,

giantpanda

[yendis71]

Originally Posted by giantpanda

Our combined income would be about $3,700/mo.
-Sid

[QUOTE}?Hi!

Is that the sum available, after the health insurance, after a rent?
Does it include possible interests from your papers?

If the 1st answer is YES, then it is possible, as long as you keep away from the big towns.

Do you thing you can sell your house in USA ? From what we hear ( which is of course limited ) , it seems to be rather difficult without large price reductions?

Yours,

giantpanda[/QUOTE]


Hi---Thanks Bev & giantpanda---$3700/mo would be gross income---before paying the health insurance & rent. Interest from our "papers" goes back into the portfolio. The $325k for the sale of the house is a very low asking price (taking in consideration the housing mkt here).
The 'killer' is the health insurance premium for seniors.
Thanks---Sid

[Bevdeforges]

Doing the math (can't help it, I'm a beancounter by trade), your health insurance takes $1667 each month, which is a fair sized chunk of that $3700. That only leaves you (at current exchange rates) about 1500 € a month to live on to cover rent, food, transportation and entertainment. If the dollar tanks, you could be up Ye Olde Creek sans paddle.

I've got a relatively fuel efficient car with a moderate sized tank, and every fill-up costs me 60€ these days. Fortunately, I only need one fill-up a month, but if you're out in the countryside you won't get away with that.

If you had the insurance covered from other sources, you could probably manage, but $20,000 a year is a pretty steep fixed cost to have (and chances are that will go up over time).
Cheers,
Bev

[yendis71]

Originally Posted by Bevdeforges

Doing the math (can't help it, I'm a beancounter by trade), your health insurance takes $1667 each month, which is a fair sized chunk of that $3700. That only leaves you (at current exchange rates) about 1500 € a month to live on to cover rent, food, transportation and entertainment. If the dollar tanks, you could be up Ye Olde Creek sans paddle.

I've got a relatively fuel efficient car with a moderate sized tank, and every fill-up costs me 60€ these days. Fortunately, I only need one fill-up a month, but if you're out in the countryside you won't get away with that.

If you had the insurance covered from other sources, you could probably manage, but $20,000 a year is a pretty steep fixed cost to have (and chances are that will go up over time).
Cheers,
Bev

Thanks, Bev----that is very helpful in considering our decision. Maybe spending up to 3 mos. a year, or so would be an alternate consideration
Sid