InnerVoice

How long does it take to retrain to be an RMA, and is it worth it if you're in your late 50s? (serious question)

You must have a very large home in that case. I remember looking around Llandudno about 5-6 years ago, thinking about it as a possible retirement location (always loved the area despite the town being a bit tacky), and making a mental note you could buy a nice semi for about £200-250k. They seem to be in the £250-300k range these days, so about £50k more. I'd agree that's unaffordable for most young people in the area given the low wages, but it's much more affordable than property is in regional coastal Australia.

You're not the first person to say how bad it's become, so I wouldn't dispute that at all. I haven't been back to the UK in 5 years so my personal experience is out of date, but I still have a UK mobile and frequently receive service texts from my old surgery informing patients not to come unless it's an absolute emergency, so I can see the system is really under pressure. I appreciate that there's no getting around hip replacements but when it comes to minor medical issues my first port of call these days is google. The main reason being that I now have to pay for every doctor's visit, so I think about it like I do about any other service. I won't pay for something I can fix it myself. I'm no longer of the mindset that if I feel unwell then 'I need to see a doctor', because 99% of the time what I need is some basic medication and a rest. Regarding your teeth, I'd consider stopping over in the Far East on you way to Australia and getting it done at a fraction of the cost. That's what my wife's doing next month. Can't beat a bit of medical tourism!

If someone in the process of emigrating asks about the cost of medical, dental etc in Australia, I think it's understandable that the discussion will lead to comparisons between the two systems. I'd agree that over-analysing how these are funded in each country isn't going to be particularly helpful, but that's the nature of forum discourse. This also started me thinking about how much we pay in Australia in total for tax and Medicare, compared with what (employed) people pay in tax and NI contributions in the UK. Who is getting a better deal? I've been meaning to do this for a while (everyone needs a hobby, don't they) so I've finally got around to crunching a few numbers. I used a the uk.gov calculator to work out the total deductions for an income in £10,000 increments up to £100,000. I converted this to Australian dollars using the current rate of £1=$1.9. Then I made a similar calculation for the equivalent income in AUD$ using the moneysmart.gov.au calculator and compared the two. For the Australian calculation I also included the Medicare Levy Surcharge (MLS) where applicable because you can only avoid it by paying for private health cover. The following figures are for someone on PAYE/PAYG and doesn't take into account those paying different classes of NI contributions or those entitled to various tax offsets etc, but you have to draw the line somewhere. The Medicare Levy (2%) is much lower than UK NI rates, so I'd always assumed that we'd pay less in total deductions. However, that's an incorrect assumption because in Australia the overall rate of taxation is generally higher. In almost all of the following scenarios you would pay more in total deductions in Australia than you would in the UK, given the equivalent income in dollars or pounds. The worst-case scenario being that you're a single person on $95k (£50k equivalent), where you will have to pay almost $3,000 more in deductions in Australia than you would in the UK (due to reaching the lower MLS threshold for a single person). The only scenario where you're likely to be better off is if you're a higher earner in a couple, just as long as you don't exceed the current MLS family threshold of $186,000. On the face of it British taxpayers are getting a better deal than Australian taxpayers in terms of public healthcare. Not only are they paying less in deductions, they are also getting massively-subsidized dental treatment in addition to non-chargeable medical care. (I've avoided the word 'free' even though it makes the last sentence rather verbose). In addition, most UK tax-payers will be entitled to receive a guaranteed pension once they reach 67, which isn't means tested. I wouldn't dispute that the NHS is struggling at the moment but it's all relative when you make comparisons with public healthcare systems in other countries around the world, which in many cases are non-existent. The UK have arguably the most negative media in the world who are constantly ripping the country apart at every level, and creating a culture of gloom and doom. It's no wonder so many Brits are on a constant downer about their country and want to leave. I've attached the spreadsheet below in Excel format for anyone who's interested. Sources: https://www.tax.service.gov.uk/estimate-paye-take-home-pay/your-pay https://moneysmart.gov.au/work-and-tax/income-tax-calculator https://www.ato.gov.au/individuals-and-families/medicare-and-private-health-insurance/medicare-levy-surcharge/medicare-levy-surcharge-income-thresholds-and-rates UK-AUS tax comparison.xlsx

Well it'd be a nightmare if we didn't - half the male population would be transgendering at 59!

The UK State Pension age for both men and women was originally 65, and it wasn't lowered to 60 for women until 1940. I believe that the reasoning was to provide more support for women because financially they were likely to be worse off in later life, due to taking time out from the workforce to raise children. The changes in the 1995 Pension reflected a societal shift towards men and women working a similar number of years, and a significant increase in people's life expectancy. It's worth noting that the retirement age for men was also increased at the same time (65 to 67), so we didn't come out of the process completely unscathed.

I assume you're referring to the unfortunate group of women who had their retirement age moved back 5 or 6 years? My friend's wife is called Karen, and trust me if she could've spoken to the manager then she would've! Fortunately for my friend she's now 66 and getting it, so he isn't getting his ear bent quite so often (at least not about pensions).

Thanks, I think that's pretty much all I'm going to need at my age - I'm past the point of wanting to look like a movie star!

Your dentist sounds a tad expensive if you don't mind me saying. The Toowoomba hospital sounds like the way forward - do they do treatment too? I thought the prices I was quoted in the original post were a bit expensive too, so I shopped around and found another dentist. He did the 5-surfaces filling for $295 as opposed to $420. The scale and clean was $130 as opposed to $156. I didn't want the topical application, but as the dental assistant had made it up anyway they just gave me it for free. He said that two fillings at the bottom of the quote ($235 each) weren't urgent, and as they were a little difficult to repair he suggested holding off unless they started giving me some trouble. So I ended up paying $425 instead $1083 and walked feeling confident that the necessary work had been done. I will add that he was extremely nice, professional, and at no time did it feel like it was 'just about the money'. Just goes to show that it's worth shopping around.

I once met a chap while hiking in the Lake District who was a sheep-shearer who said he spent part of each year in Australia and NZ doing that, although I didn't ask him how long and at what times of year he was there. I just thought it was interesting. I guess if you're young and fancy free there are a few jobs in a similar vein that would allow you work in both countries for a period of time each year. As you say though, it isn't really practical for most people, and especially once you've had kids.

Are you thinking of The Duke of Clarence? Maybe it was called the Duke of York, but the changed the name for obvious reasons!

With all due respect I don't think that's correct. If you only take your tax-free lump sum (or part of it) and you haven't taken any income payments, you can still contribute the same amount to your UK private pension. However, once you take your first taxable income payment through drawdown, the amount you can then pay into money purchase pensions (e.g. personal, self-invested) is limited to £4,000 each tax year - but taking tax-free cash alone won’t affect that. What becomes limited is the total amount of tax-free money you can take after your first tax-free withdrawal. In total it can't be more than 25% of the value of your pension at that time, regardless of how much your pot grows in future. So you're right in that you probably wouldn't want start taking any tax-free sums until you're ready to retire, unless you needed the money for an emergency. However, if you knew you would be moving permanently to a country (like Australia) where your whole pension would be classed as an income stream, it may well be in your interest to take the 25% tax-free lump sum before you emigrated.

Yes, fair point - apples to apples and all that. I'm a real ale person too, but it doesn't cut through your thirst when the weather (or you) are really hot. The biggest thing I miss about UK life is real beer in real pubs. Although we'll never have the real pubs over here we at least at have a decent selection of craft beers these days, albeit at a hefty price tag I might add.

Good point, although at retirement a property owned by an SMSF can be transferred to it's members. Given the complexity of setting up and managing an SMSF, one might assume that Jennyrose is aware of this.

You mentioned in a previous post that you're still in Aus and intend to move back to the UK, but you didn't mention how old you are. If you're approaching 60 then it might be worth delaying the move until you are, so you get access your Aus super completely tax-free. You could take it in one lump sum and transfer it to the UK, where you could invest up to £20,000 year in tax-free ISAs both in yours and your wife's names. If you continue to work between being 60 and 67 then you could also make significant contributions to a UK pension fund, for which you'll receive tax relief at your marginal rate. Remember that once you're a UK tax resident, when you're 55 you can take a 25% lump sum tax-free from your UK private pension (if you have one). Unfortunately, if you're nowhere near 60 and intend to move back soon, then none of the aforementioned suggestions will be of much help. As Marisa said, your UK state pension won't be affected because it isn't means tested. However, it's a taxable income stream so it will affect the amount of tax you pay overall, depending on how much income you have from other sources. If large sums are involved here then it'd be a good idea to get some professional advice.

That's good to hear because I'm not offering! I think you need to have done both before you can make a fair comparison. When I did the bridge climb it was less than half the price of what it is now, so it seems exorbitant. That said, if I hadn't yet done it then I'm sure I'd still want to do it because I'd hate to think I missed out on something memorable, so I appreciate where you're coming from. I agree the view of Paris from Tour Montparnasse - or from the Sacré Coeur for that matter - is better than the from the Eiffel Tower. I've been up 3 times and I think there's lots of interesting stuff about the construction and history, particularly if you walk up the stairs. I don't think people go up the Eiffel Tower just to look at the view. It's also about the whole experience. Newcastle is worth spending a night in even if you have no intention of living there. There are some lovely places on the way up to Brisbane, like Port Macquarie, South West Rocks, Nambucca Heads and Coffs Harbour (panorama below) to name a few, that are definitely worth a detour if you've got an extra couple of days. I hope you enjoy you trip.

Have you seen the Southern lights? They are visible from Tassie on occasions.

Eiffel Tower 'overrated and overpriced'? Sorry, but I cannot compute! If you've been up it 8 times then I appreciate the novelty has worn thin but you can't ignore its status as a cultural icon, or engineering marvel for that matter. Ask anyone to name something French and they'll say the Eiffel Tower, or a French bloke on a bicycle with a stripy jumper and a string of onions around his neck. As for overpriced, it's 28€ to go to the top or 21.50€ if you don't mind doing the stairs to the 2nd floor, which I've always found much quicker than waiting in the queue for the lift. Compare to $917 for two adults and a child to do the bridge climb, that seems like excellent value.

That doesn't sound encouraging given that you've only just returned from Sydney, and you're planning to move there in a couple of years.

Fortunately humans are incredibly adaptable, and it's amazing what we can accept as 'normal' after a while.

@FirstWorldProblems that's an excellent Sydney guide, and the one thing I might add would be visiting the Northern Beaches (Avalon/Bigola/Palm Beach) and the walk to Barrenjoey Lighthouse, which is surely one of the most stunning areas in metropolitan Sydney. It would require a car though, so maybe an option for @Cheery Thistle on their way up to Newcastle. I agree that the aquarium needs a new lease of life, but if you've never been before and you hit an unusually poor spell of weather, it could be an option. Taronga is decent enough city zoo if you like that kind of thing (personally, I don't) but Australia zoo on the Sunshine Coast is a much better experience. The Sydney bridge climb has to be one of the most over-rated and expensive attractions in Australia, but some people just have to do it - and I admit to have been one of them. My advice would be unless you feel your life will somehow be incomplete, then save your money. And don't bother unless the weather is spot on.

On reflection it probably was a bit harsh. I've visited Newcastle a few times over the last 30 years and seen the gradual gentrification steal away the character of a place, but if you've never been there before then you'd think it was pretty nice. The median price for a 3-bedroom property is currently around $1.5 million, so unless you're moving there with a bucket-load of cash, you're going to need to be on a decent whack. There can't be too many jobs in Newcastle commanding those kind of salaries, but that's becoming the problem Australia-wide in the more desirable regional areas.

It's noticeable how often certain members tend do that, while others attempt to answer the questions posed by the OP

I'd spend a day less in Newcastle and a day longer in Byron, or somewhere else on the way up like Coffs Harbour. I don't think it will take you long to scratch that itch. Newcastle is a nice enough town but it's mostly folks who can't afford to live in Sydney, yet can't bear to be too far away from it. Australians are a little odd in that respect. Traditionally they don't like moving interstate, particularly New South Walians who believe their state is better than everyone else's. That attitude has waned somewhat in the younger generation, with many from NSW and VIC having moved up to SEQ for a better lifestyle. A week is a long time to spend in Sydney considering you don't intend to live there. If I'd been in the situation where I needed to spend a night in Sydney before flying home then I'd have stayed there at the end of my trip, and done the whole thing in the opposite direction. Chilling out on the Sunshine Coast for a few days would be a much nicer way to start your holiday than the hustle and bustle of Sydney. You're going to miss all the school holidays so you shouldn't have any difficulty booking accommodation. I know some people like to book everything in advance, but I think it's good to have a spare day for contingencies. You never know what the weather is going to bring at that time of year. Two years ago SEQ and northern NSW had phenomenal amounts of rain at the end of February, with many roads cut off for several days. If your internal flight to Sydney is from Brisbane, then bear in mind that the Bruce Highway between there and the SC can get flooded.