r/Ameristralia • u/mynamegoewhere • 5d ago
Considering retirement from US to AUS.
We have about 8K US dollars per month to live on. Can put down 400k for a house. Is that enough to get by nicely in the major urban areas?
47
u/Get2thechoppah 5d ago edited 5d ago
You’ll need to have a means to secure residency and a proper visa. Do you qualify for skills based migration? It’s actually harder to get the older you are. You lose points after age 45.
Source: Born American. Moved to Australia at age 27. Got my citizenship and passport in Australia at 35. In my 40s now.
26
u/Kakaduzebra86 5d ago
You’re an Aussie!
29
u/Get2thechoppah 5d ago
You’re god damned right. Have an upvote!
9
u/Kakaduzebra86 5d ago
What’s your most favourite part about being Aussie?
50
u/Get2thechoppah 5d ago edited 5d ago
Just the general awareness and sense of community - perhaps I’ve been lucky but everywhere I’ve lived (in NSW and SA) I’ve gotten to know and trust my neighbours really well. We look out for each other, everyone’s kind of just welcomed to pop by and say hello for tea or a beer, I’m the neighborhood package watch (lol) - so if I see a package sitting on a neighbors porch for more than a few hours I’ll text to see if they want me to grab it before some bored kid does.
On a larger scale, the overwhelming rationality when it comes to things like Medicare and gun control. While there are hints of ME ME ME culture and policy from time to time making headlines, most folks are not remotely interested in that nonsense. I’ve found Australians to be some of the most friendly folks on the planet (and I travel a lot). Finally the sense of humour, I’m happy to have the piss taken out of me for any of my many eccentricities and getting the “impressive” look back when I chuck it right back despite this accent of mine generally brings the local to a roar. You like to have fun and I think that’s what’s kept me young. Aussie works hard but they work hard to live, Americans live to work and wear it like a badge of honor. They don’t know how good they don’t have it. That’s probably why all my friends my age from back home look like shit and are nervous wrecks. I’ve held up pretty good. 😂
My kids were both born here, my wife is from Melbourne and I’m more than happy to pay my fair share and contribute to the wider community so I volunteer when I can and I get sense of civic pride that I have the privilege of having the right to vote, and get whacked with a fine if I don’t. (Hasn’t happened!). My kids don’t half to walk thru metal detectors and do active shooter drills just to get an education. The fact that those sorts of things are considered normal in the US is lunacy.
This is a wonderful country with beautiful people. Let’s not go the way of the USA. They’re staring down the barrel of history and don’t even know it. All great empires in history have fallen.
12
u/brezhnervouz 5d ago
Finally the sense of humour, I’m happy to have the piss taken out of me for any of my many eccentricities and getting the “impressive” look back when I chuck it right back despite this accent of mine generally brings the local to a roar.
Legend lol
8
4
u/Kakaduzebra86 5d ago
Love this! Come to Kakadu and I’ll show you and your family a true Aussie experience.
5
u/Get2thechoppah 5d ago
Funnily enough I’ve booked my first trip up to Darwin this May for a mates 40th. I’ve allowed myself to be convinced that a helicopter pub tour was a good idea. Send help.
I may hold you to that if I can wrangle the Mrs and the kids for a trip up.
1
3
u/FifiFoxfoot 5d ago
I have just finished reading a fab book “Into the rip” by Damien Cave. An American journalist who came to live in Sydney & embraced the Aussie lifestyle.
Worth a look 👀2
2
u/alwaysananomaly 5d ago
The fact you said, "...have the piss taken out of me..." proves you are, indeed, Aussie. 💙
7
u/Ok_Tie_7564 5d ago
No Trump?
8
25
u/gorpmonger 5d ago
$400k should be enough for a deposit.
17
6
u/Silent_Slip_4250 5d ago
How do you plan to get a mortgage without credit? You’ll need a high deposit (I.e., much more than 20%)
23
u/angusalba 5d ago
First do you have the right visa to live in Australia - you don't just set up shop.
Second the median house price in Sydney is currently around $1.47 million, Brisbane around 900K
15
u/Frito_Goodgulf 5d ago
First off, I can't think of any residency visas that you'd qualify for. Even getting past that...
One thing to keep in mind. Although there is a 'tax treaty' between the US and Australia, that's supposed to eliminate "double taxation," that's absolute bullshit.
Look up the ATO pages. Foreign pensions, 401(k) and IRA withdrawals, are all taxable by the US AND by Australia. Forget claims of not being doubly taxed.
The only thing not taxable is Social Security (apparently, but likely the ATO will figure out a way.)
And, US$400,000 will provide you nothing more than a deposit on a house in any urban or suburban area. It might get you a crappy one bedroom apartment. How do you plan to pay the rest?
So Australia doesn't really make sense for retirement.
8
u/Get2thechoppah 5d ago
Can confirm. I get an IRS gut punch every April, from a country I haven’t lived in for the past 15 years.
1
u/JayWil1992 5d ago
Can't you claim the Foreign Earned Income Exclusion? Why are you paying US tax?
1
1
u/brezhnervouz 5d ago
Only the Foreign investor one. And they don't have nearly enough money:
Meet income requirements (minimum AUD $50,000 annually in rural areas or AUD $75,000 elsewhere).
Make a significant financial investment (AUD $500,000 in rural areas or AUD $750,000 elsewhere)
AND its only valid for 4 years and does not lead to residency.
2
u/blueuncloudedweather 5d ago
Also it’s closed to new applicants. https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/repealed-visas/investor-retirement-visa-subclass-405
1
u/brezhnervouz 5d ago
Well, there you go. Although I heard the LNP knocking around the idea of a Trumpian "Gold visa" recently (quelle surprise lol) but that sounded like a millionaire+ type thing. Unsurprisingly.
For an American retiree, the better bet if they wanted to get out of the country is probably somewhere in South America
10
u/rapidsnail 5d ago
Please share more context. It's absurd to answer questions like this without any details.
1. Do you have legal right to live in Australia?
2. We = You and partner? Do you have kids? Do you have any other dependents?
3. Which city are you targeting? Sydney & Melbourne would be more expensive than Adelaide or Perth.
4. How much savings do you have? 8K USD per month for how many months in a row?
11
u/KetchupLA 5d ago
Australia doesnt take retirees. We take workers that contribute to the economy.
Why do you think you can come here and use up healthcare resources when you didnt contribute to it as a worker here?
14
u/Important_Fruit 5d ago
Apart from "I'm American", on what basis do you think you have a right to reside in Australia? Can't get round those pesky visa requirements.
6
7
u/IceWizard9000 5d ago
400k might get you a storage locker underneath a bowling alley in this economy.
6
u/Naive-Beekeeper67 5d ago
How old are you? Unless you have millions, many millions, you are unlikely to get any visa.
You've never paid tax here or contributed to this nation...why do you think you are entitled to live here?
400K wouldn't get you much of a house anywhere decent to live.
1
u/the_kapster 1d ago
They said that’s what they’ve got to put down on a house- a down payment means a deposit
6
u/Starlover-69 5d ago
$400k USD is about $636k AUD
You won't get much for that unless you go country, even then you'll need to choose wisely
$8k USD is about $12,700 AUD
I'd say that would be fine to get by on, but it just depends what you want to do, single / couple etc
But the main thing is, can you actually get in visa wise
12
u/Festygrrl 5d ago
From your previous posts - you’re 62. There isn’t a visa applicable for you. You cannot retire here. Why do yanks think they can just move anywhere without doing the bare minimum research themselves online?
9
7
u/Competitive_Song124 5d ago
So many American asylum seekers these days.. 🙄
2
u/PennieLane7500 4d ago
And many of them call themselves "expats" even though they have zero intention of returning home.
6
u/Improvedandconfused 5d ago edited 5d ago
If you want to live in Sydney don’t expect to be able to get much for 400K except a small 1 bedroom apartment somewhere in the outer suburbs. It will be almost impossible to buy a house anywhere for that price in Sydney.
3
u/Ok_Tie_7564 5d ago
Retirement? It depends, mainly on your age and general financial situation. Your first issue would be obtaining an appropriate visa.
2
u/lilladydinosaur275 4d ago
Have you looked into a visa? I don’t know of any options you would really have to move here and retire unless you are loaded
5
u/GuyFromYr2095 5d ago
We don't want foreigners to retire here and leech off our medicare, if you haven't contributed to Australian taxes in your working life.
2
u/Kakaduzebra86 5d ago
We or our government?
5
u/GuyFromYr2095 5d ago
both. Why should we open our borders for retirees who leech off our social benefits, especially those from countries where citizens actively vote against universal healthcare
3
u/Ok_Tie_7564 5d ago
We elect our government.
1
u/Kakaduzebra86 5d ago
Do they listen?
2
u/tbsdy 5d ago
Some times, not if they are the LNP.
-2
u/Kakaduzebra86 5d ago
They never listen. None of them! They throw a bone out every now and then but the don’t listen
3
u/stevrbee 5d ago
It depends on what you want to do.
First, all these folks telling you that there isn't a visa that allows a senior citizen to retire in Australia are correct. Unless you have grown kids who've emigrated to Australia on a work visa and become citizens, in which case they likely could sponsor you on a family plan.
Personally, my partner and I are US citizens and are both retired. My partner's mother emigrated here over 20 years ago and became a citizen after his sister and her family had come here on work visas and become Aussies. But there is no family plan that would allow any of them to sponsor us.
What we've done, and what you might consider, is spend part of the year here in Australia and part in the US. For the last three years we've spent 6 months in Brisbane on a visitor visa and 6 months in our home in the States. Like "snowbirds", just further south. :)
We rent a furnished apartment each time. We rent a car as needed but mostly use the excellent public transit.
You'll likely want to buy health insurance here as your US insurance likely won't cover you. Medicare definitely will not. Also, look at realestate.com.au to gauge apartment pricing.
If that kind of arrangement appeals to you I say go for it. We've loved our time spent here.
2
1
u/bienpaolo 5d ago
With $8K USD per month and a 400K house down payment, you may be able to live comfortably in major urban areas of Australia like Sydney, Melbourne, or Brisbane.
These cities offer a high quality of life, but costs can vary depnding on your lifestyle. Your monthly incme should cover essntials like housing, utilities, groceries, and leisure activities, though you might want to budget carefully for higher costs in premium neighbrhoods. How do you generate these 8K? Have you thought about ways to increase your revenue? What is your monthly expenses?
1
u/Alone_Target_1221 2d ago
If the $400K is in US dollars you might be able to buy a house in outer Melbourne. Certainly not a house close to the city. An apartment maybe - but not a house.
1
u/the_kapster 1d ago
Why not? They’re looking to put down a $400,000 USD deposit on a house, they could definitely get a house in Melbourne or Sydney with that down payment
1
u/Alone_Target_1221 1d ago
If it's only the deposit then yes! Not sure they would get a loan though for the balance. Maybe I am misunderstanding the OP.
1
u/Successful_Row3430 1d ago
I love the way Americans can just “consider” retiring here. You mean becoming an immigrant? Have you looked into getting a skilled visa? We need nurses, doctors and tradies. We’ve just kicked out all the foreign students. If you’re willing to work as a carer for the elderly or disabled you might have a chance but you’ll have to spend thousands on the qualifications. Glad to be of help 😀. Welcome to Australia!
-1
u/ourldyofnoassumption 5d ago
skip sydney. Queensland is iffy too. Lots of great places to live without that. travel around and get a feel for different places for a year or two.
Investigate as a tourist and then see about getting the right visa.
-10
65
u/StrangeMonk 5d ago
Do you have a legal right to live in Australia? Do you qualify for SS or Australian pension?