[Nashlee]

Dear All

have all been really helpful in past threads, wonder whether you can answer a few questions???

Have been reading threads on money issues ie how much to bring (savings pot), how much is a good wage to earn etc. Can anyone realistically answer these questions? I know that it all depends on where you want to live and what you do for a living, but if you were to think about what you earned when you lived in your previous home lands and what your lifestyle was like there - does it match expectations??

I thought that we would be okay on our savings pot of £400k and my job as a nurse and OH as a GP but not sure now, so many people are disillusioned about cost of living and making ends meet.

Can anyone shed some light??

Regards

Lee

[zardell]

I thought that we would be okay on our savings pot of £400k
Lee


With savings of £400,000 you'll be fine.

With interest payments over 7% (work it out on 5% allowing for tax and you'll be well in) on NZ savings accounts (instant access ones at that) work out what your interest payments will be. They can be paid monthly into your account and will more than help to pay your way until you settle into your new life.

Good luck with whatever you decide,

Julie

xx

[Nashlee]

Hi Julie

Thank you very much for your help

regards

Lee

[spudulike]

I wouldn't worry too much with savings of $400,000 and two professional incomes. You'll probably find you'll more than manage!!

Good luck,

L :)

[Milliemoo]

ooooooohhhhhhh NZ$400k .... I wondered what you were worried about :laugh

Sorry, shouldn't laugh. I agree with the others though. You've got a nice little deposit for a house (obviosly depending on where you want to be) and with 2 x proff incomes, you'll be sorted :nice1

Milliemoo

[Nashlee]

Hi All

Thanks for your kind words of wisdom, I just hope you are right :uhoh

Sure you are :nice1

[zardell]

Hey - I'm confused now........are we talking 400K NZ Dollars or 400k GB Pounds???

Either way - you'll cope, but with 400K GB Pounds you'll cope admirably.

Julie

xx

[Nashlee]

Hi Julie

Sorry for confusion, we will have 400 uk pounds.

just read on older threads about folks who have had that and more and have not done so well!!!

Don't want to count my chickens before they have hatched, like all on this forum, it's a big move in more ways than one.

Regards

Lee

[Nashlee]

sorry amendment on last thread 400k uk pounds

Regards

Lee

[stu70]

I think 400 k is a decent seed capital. I will however be careful about going long in the real estate market though. Going by what is happening in North America right now(melt down in subprime lending in the USA and severe downward pressure building up in the housing market in general), the impact will surely be felt around the globe and I am sure you would want to be careful if the property prices are in the range of million +. Hopefully local conditions in NZ would offset any negative sentiment coming in from a global downturn. Regards

[Nashlee]

Thanks for your advise Stu, Not sure would invest stacks of money in a house, just in case needed for a rainy day!!!

Sorry about your book again, feel awful about that :(

regards

Lee

[stu70]

Thanks for your advise Stu, Not sure would invest stacks of money in a house, just in case needed for a rainy day!!!

Sorry about your book again, feel awful about that :(

regards

Lee

Oh no , not all. I am sure the book will go to good use.

I always like to be fiscally conservative. I had a close friend (a stock broker)who purchased a nice property during the height of our boom for $850 k and they had to sell it soon after the bottom fell in late 80s for $560k. He lost his down payment. I would bank the money and wait for a property that is undervalued (needs some reno /TLC, owner in a rush to get out, etc.)before making a move. It is really easy to lose a ton of dough in a jiffy in real estate. Who would have thought American market would go so south so fast?
But then here we are. Same is true even for NZ. They have run the course and are in for a "ding dong daddy" of a correction

[Nashlee]

Hi
Totally agree

main plan is to shack up with my cousin for a while until right place materialises itself. Until then hanging cool!!

Thanks again for advise

regards

Lee

[Moorf]

Had I still been in the UK and read a thread on here, prior to emigrating, asking if £400,000 was enough to bring over I would have been really worried about our financial situation.

It's amazing to see the difference in expectations in the 2.5 yrs we've been here.

I hope anyone out there who has nowhere near £400,000 isn't panicing, it's achievable on a lot less, honest!

But, £400,000 (or just over $1mill NZ) will certainly ensure a nice lifestyle here, especially with 2 professional incomes as pocket money (assuming you don't buy $2mill of property ;)).

Good luck with the move.
Moorf

[sarahw]

You'll be sweet bringing that much money - really! We came over on a lot lot less than that & live really comfortably - we're not mortgage free but have less than 50% mortgage & what I would consider a dream house compared with what we lived in or could ever afford in UK, no other debts & I don't work any more & don't have to. Hubby earns a good NZ salary (not a fantastic NZ salary but certainly one that is considered good) but compared with UK salaries it is terrible but then again we live a completely different lifestyle here to what we had in our country of origin.

You'll be very, very comfortable on £400K - providing, as Moorf says, you don't buy your own island or a mega mansion!! ;)

[Nashlee]

Thanks all,

May have panicked prematurely!! With two kids on tow, guess just want a comfortable life for them, they are a little scared about moving to somewhere new being the ages of 8,10 going on 25,30!!

Thanks for all the advise guys!

Regards

Lee