Well the time has come when I should really start planning seriously now. I looked at some notes that I had made previously and could not believe that nearly two years had gone by!
Since that time Mick has reached 65 and while I am supposed to work until I am 65 I will give it about another 18 months by which time the mortgage will be paid off.
Somehow I have to make it work by that date for if we wait until my 65th Mick will be 72 and we don't want to wait until that age before we start enjoying our retirement living in our adopted home. We have already waited 25 years, I think that is long enough!
As usual finances play a strong part in how soon we can move. Mick does not have a private pension and although I do the estimated annual pension is not very much. My state pension will not start until I'm 65 so we have to bridge the gap. I have studied the cost of living in Spain and from what I see if I take an average in the UK then it should cover expenses in Spain.
If we are expected to live on the state pension in this country then we should be able to in Spain. My little private pension will be just a little extra.
Now what we would like to buy to live in will be the problem. Mallorca is a very expensive island on which to buy a property but it is an island that we feel at home in. We have many friends there and know our way around it almost as much as where we live now.
Looking at property prices in Mallorca selling our house here would probably only raise enough to buy an apartment or a small finca in need of modernisation. Of course there are also the charges and moving expenses to take into account.
So I have a lot to think about and while we are taking a break in France over Easter I am going to have to do a fair amount of number crunching... If only it was France we were in love with then property prices would be much more affordable. Oh well you can't choose what country you love anymore than what person to love. Much to contemplate I think.
You are right, the cost of living in Spain is about the same as the UK. It might just be a little more expensive on the islands though.
I hope the sums work out for you because it is too late to realise your dreams when they are nailing the lid on your coffin.
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