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Moving to Romania as an early retiree

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Harled
  11/1/2017 12:12 EST

Good evening :)

After some years of hard work, frustration and stress I have decided that I can retire now, even if I am "only" 45 years old (single, no children).

I would like to retire to Romania :) I speak some languages and Romanian is one of them...

I was thinking about investing around 200.000 EUR for an apartment ( not a house, since it will be difficult to manage when I get old).

I will have about 1.200 EUR /month as income.

This amont should cover the monthly expenses (food, maintenance costs, ) and most important the costs of a private full health insurance ( I am insured in Germany by the national health insurance system, however it has a lot of boundaries regarding the treatment abroad - for example only emergency treatment).

I don't need much entertainment; my writing and reading is enough, some Theater or Opera would be nice, but not mandatory.

I would love to live somewhere in the mountains - heat is not my friend! I was thinking about Brasov due to it's location and fresh air.

Would it be doable with my ncone and maybe you have another sugestion ?

Many thanks and greetings from Berlin :)

Harled
  11/1/2017 14:33 EST

An inflation rate of about 2% / year is already included :

in 10 years: 1.400 EUR/month
in 20 years: 1.700 EUR/month
in 30 years: 2.100 EUR/month
in 40 years: 2.600 EUR/month

After that, I will be dead anyway :)

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johnkorst
  11/1/2017 18:00 EST

The most important thing you neglect to mention is your nationality.
Requirements for EU citizens may be different than for others.
I am also a retiree with a sufficient pension to live. But in my case, as an American citizen without Romanian family I was told I cannot simply move to RO and kick back. I must have a documented purpose.
I intended all along to do informal volunteering, but that is not sufficient. I must have an employment contract, a volunteer contract with an NGO, or get married to a Romanian.
I have a relationship with my chosen city and was able to get an acceptable volunteer contract rather easily.
Personally, I have absolutely no intention of buying any property, as I have no intention of becoming embroiled in legalities, taxes, property rights and obligations. A furnished rental does quite nicely. I am keeping my nest egg as a cash reserve, rather than buying property.
Your health insurance may not even be acceptable here (mine isn’t accepted by the immigration office) so I am forced to augment it with a high-deductible private Romanian policy at 100euro per month.
This site shows that the cost of living is about half that of Berlin, though it could be misleading.
https://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=Romania&country2=Germany&city1=Brasov&city2=Berlin&tracking=getDispatchComparison

johnkorst
  11/1/2017 18:01 EST

The most important thing you neglect to mention is your nationality.
Requirements for EU citizens may be different than for others.
I am also a retiree with a sufficient pension to live. But in my case, as an American citizen without Romanian family I was told I cannot simply move to RO and kick back. I must have a documented purpose.
I intended all along to do informal volunteering, but that is not sufficient. I must have an employment contract, a volunteer contract with an NGO, or get married to a Romanian.
I have a relationship with my chosen city and was able to get an acceptable volunteer contract rather easily.
Personally, I have absolutely no intention of buying any property, as I have no intention of becoming embroiled in legalities, taxes, property rights and obligations. A furnished rental does quite nicely. I am keeping my nest egg as a cash reserve, rather than buying property.
Your health insurance may not even be acceptable here (mine isn’t accepted by the immigration office) so I am forced to augment it with a high-deductible private Romanian policy at 100euro per month.
This site shows that the cost of living is about half that of Berlin, though it could be misleading.
https://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=Romania&country2=Germany&city1=Brasov&city2=Berlin&tracking=getDispatchComparison

indy1
  11/2/2017 02:23 EST

Hello there !

With house paid in full and 1200 euros/month it's enought to live decent in Romania ... and Brasov , I think it's a nice , vibrant city to live in ...

Good luck to you !

Alex

indy1
  11/2/2017 02:23 EST

Hello there !

With house paid in full and 1200 euros/month it's enought to live decent in Romania ... and Brasov , I think it's a nice , vibrant city to live in ...

Good luck to you !

Alex

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Jacuro
  11/2/2017 02:38 EST

Hello Harled.

I think you made a wise choice.
Brasov is beautiful,

A single person with 1200 Euro and no rent to pay can have a great life here.

Regarding your Health Insurance, you might want to insure yourself here too, and when you like to live here you need to apply for a CNP.

Regarding the apartment, the sum you disclosed is Certainly enough to buy! and to put nice stuff in it.
You will find out that with 200k you will be able to buy 6 apartments if needed be careful to not get ripped off, make sure you buy from the owner and try to avoid third party interference.
there will still be monthly costs as there is something called "Între?inere" which is to pay all the costs that apply to the building.

If there are any questions, i am a Dutch guy living in Bucharest with Family and friends in Brasov.
Pop me a private mail and i'll sent you my tel. number for a chat.
(I speak perfectly German)

Regards, and good luck!!
J

Harled
  11/3/2017 09:25 EST

Hi johnkorst,

I am a German citizen, so under the EU regulations I can move to Romania and live there.

I want to buy my own apartment because I don't wannt to risk being thrown out by the owner in 10 years.

The mdicla insurance is an important aspect, because the German one will not cover much, while it will still cost about 150 EUR/month.

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