Moving back to Spain with Spanish spouse - View Single Post
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Old 5th September 2016, 08:29 PM
elder elder is offline
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Users Flag! Originally from usa. Users Flag! Expat in spain.
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Quote:
Originally Posted by kalohi View Post
Since there are 4 of you that will mean she'll need an income of about 2,400/month. Which brings us to the problem of finding a job. With 20+% unemployment in Spain that can be no small feat. Personally I would never be moving my family over here without a job lined up.
Thanks for the reply!

Yeah, it does sound like no small feat. She has never earned more than about 1,600/month in her entire life. We may have to consider a "plan B". In the most drastic extreme, I could just live there illegally again. I hated the precariousness of the illegal lifestyle, but it's something I've lived with. Other options include me working in London and flying to visit the family regularly (I could probably get a job in London pretty easily as my company has offices there). Kind of shitty to think how hard it is to just have a family reside together in this crazy world, but we're not the ones calling the shots. In any case, her flying back a few months ahead of me, if necessary, might help her get a job, albeit not a 2,400/month one. She should probably start making inquiries soon to see if she can get something lined up. As you say, with high unemployment, it won't be easy.

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I have to ask, however, why you would want to bring your life's saving to such a questionable and unprofitable banking system as the Spanish one. Just saying...
At the moment all of my money is invested in index funds in the US with Vanguard. I can't keep those open once I am no longer a US resident (or if I do keep them open, it is only by lying or omitting to tell the truth to Vanguard).

So, I want a Spanish bank only insofar as it is a place to move the money into, and then from there straight back into the market (this time in Europe-domiciled ETFs), where I intend to let them sit for a couple decades, until retirement. It will suck to be out of the market for potentially a few months, but it may be a necessary evil. If I can get the money straight into the ETFs without going via the Spanish bank, I will.

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My advice would be to rent! If you buy and then change your mind you might not be able to sell because the market is dead. Also, rents are ridiculously cheap here, and it would give you the flexibility to test out several areas before committing yourself to something permanent.
This is a good option, and realistically, we may have to do exactly that until we find a place anyway. It will be hard to both find and buy a place from the US, even with a couple of visits to Spain along the way.

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Hope that helps!
Definitely!
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