What sort of income

mik100


Joined: 02/02/2008
Posts: 2

Message Posted:
02/02/2008 13:22

Hello

I am new here so first of all I would like to say hello. I am thinking about moving to Northern Cyprus as semi retired. What sort of income does a couple require to enjoy a reasonable standard of living would 3000€ per month be ok?

Regards

Mik

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
02/02/2008 13:28

Hi MIK 100



We are thinking along the same lines , and we were told you can live the high life for a £1000 per month , this is for absoloutely everthing , hope this helps .

ttoli


Joined: 24/03/2007
Posts: 1172

Message Posted:
02/02/2008 17:27

Have lived here for 2 years and easily get by on 400 GBP per month,taking into account car insurance.

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
02/02/2008 17:29

ttoli

Is that for one person or a couple ? do you have overheads of a villa or an apartment ? sounds good to me

simbas



Joined: 16/07/2007
Posts: 5943

Message Posted:
02/02/2008 18:00

hi mik100 , welcome to the forum ukurk did a breakdown of expenditures some posts back if i can find it i will bring it forward it was very detailed

regards simbas

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
02/02/2008 18:30

Cheers Simbas that would be a great help

simbas



Joined: 16/07/2007
Posts: 5943

Message Posted:
02/02/2008 18:48

hi pipie see message 4 in cost of living how much i've brought it forward

regards simbas

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
02/02/2008 20:32

Cheers Simbas

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
02/02/2008 20:39

Cheers Simbas

glencoe


Joined: 01/02/2008
Posts: 256

Message Posted:
03/02/2008 09:10

Hi Guys we have just done a quick breakdown for a friend who wants to move here and rent, and without giving their details they have £70k to bring out with them and joint disposable incomes (pensions) of £260 weekly, that together with their money in a TL monthly interest account (interest approx £190nett weekly) and renting a villa at £350 per month gives them a good standard of living here

ttoli


Joined: 24/03/2007
Posts: 1172

Message Posted:
03/02/2008 12:37

Pipie Sorry should have elaborated i'm single and own my house outright

ces88


Joined: 23/10/2007
Posts: 170

Message Posted:
03/02/2008 20:06

glencoe, what interest rate are you basing your calculations on and which bank is this with?

burnsy


Joined: 07/12/2007
Posts: 10

Message Posted:
03/02/2008 20:47

Hi Simba

I would also be interested in the breakdown of expenditures UKTurk did if you can find it. Our property in Sweetwater Bay should be complete in November this year.



Regards



Burnsy

glencoe


Joined: 01/02/2008
Posts: 256

Message Posted:
04/02/2008 10:10

Hi ces88,

This is with the Iktisat bank, but I believe the HSBC offer something similar

£70000 AT 18.5% gives gross circa £13K PA, but tax is deducted at source

This is a monthly deposit account where the interest is compounded if it is not touched, hope this is helpful

simbas



Joined: 16/07/2007
Posts: 5943

Message Posted:
04/02/2008 10:57

hi burnsy see message 4 under topic " cost of living how much " ukturk has gone into great detail and gives an example on his own personal expediture i will bring it forward

regards simbas

Milou


Joined: 15/10/2007
Posts: 425

Message Posted:
04/02/2008 10:57

Hi cess88



I know you have a lot to think about but also remember that the above interest rate is high and can also come down. If I was relying on interest as a pension fund, personally, I would consider three things:



- I read sometime ago that the Government were thinking of making the TRNC a tax haven and only offering 3 percent.



- The strength of the pound in the next ten years



- The strength of the Turkish Lira in the next ten years



I know these are difficult questions.

Best of luck



Regards

ces88


Joined: 23/10/2007
Posts: 170

Message Posted:
04/02/2008 13:20

Milou and glencoe, i'm a bit too young for a pension! But i will pass the information on to my parents as they wanted to know, thank you.