Retirement Planning - Lessons Learned

[Frankenkubota]

They have it figured out.

Many still want to come here, unless they are rich. I've got many many friends in Europe and the 2 things they pine for are....

Mini vans (trucks, suvs, huge vehicles) and home ownership.

Lots of renters in Europe.

 

[ultrarunner]

That’s why property tends to stay in family for generations.

None of the kids of friends or friends that visited from Austria would trade their time here but even those here for a year as students all returned home with no desire to settle here.

When asked they all said career and raising a family is much harder in America.

 

[MoKelly]

None of the kids of friends or friends that visited from Austria would trade their time here but even those here for a year as students all returned home with no desire to settle here.

When asked they all said career and raising a family is much harder in America.

That is quite interesting.

Is it because competition in US is harder for them than back in Austria?

MoKelly

 

[MoKelly]

If that's the case then why do we have millions a year invading our borders trying to live here legally and mostly illegally..

I believe the folks from Austria were here to go to college. After college - with a degree - they went back home to work v work here in a professional capacity.

The folks you mention are not as fortunate. They come and do manual labor.

Not the same.

MoKelly

 

[two_bit_score]

Many still want to come here, unless they are rich. I've got many many friends in Europe and the 2 things they pine for are....

Mini vans (trucks, suvs, huge vehicles) and home ownership.

Lots of renters in Europe.

You might have missed my point. Not arguing that American system overall isn't better so that people want to come here or not, at least for right now anyway.

Their way of distributing property by heirship is one which encourages families to hold onto family assets. To me that is good. We have property that has been in our family for generations and it's a good thing.

I looked at a listing today on 10 ac and an old home which as been owned by members of one family since 1917 and it just went on the market. I may try to buy it. But, it's a shame (to me anyway) that finally they have come to the point of needing to sell it.

 

[two_bit_score]

That’s why property tends to stay in family for generations.

None of the kids of friends or friends that visited from Austria would trade their time here but even those here for a year as students all returned home with no desire to settle here.

When asked they all said career and raising a family is much harder in America.

Very similar to the experiences we have observed with exchange students. MIL hosted several over the years and two specifically, one from Sweden and one from Germany, loved being here but both said they would not like living here.

 

[JethroB]

A neighbor who leased out his farmland specified in his will that a descendants trust be set up upon his death. His children are income beneficiaries only until they all pass. Then the grandkids truly inherit the land to do as they please. It was his simple and inexpensive way of keeping the farm intact for at least one generation. It didn’t even require a lawyer to set up the trust. Executor just got a federal tax ID online and and had the land deeded into the trust. Several others nearby have done the same.

 

[Frankenkubota]

Very similar to the experiences we have observed with exchange students. MIL hosted several over the years and two specifically, one from Sweden and one from Germany, loved being here but both said they would not like living here.

Germany and Sweden? 2 of the highest standards of living in the world. Exchange students?

Ask a working stiff in Romania who has zero chance of ever owning land if he wants to move here.

Seems to me, a lot of folks here think Europe is a panacea but....it ain't! But as usual, each to his own.

 

[ultrarunner]

About a half dozen AuPairs in my mix...

young 18-20 year old German speaking young ladies with 1 year legal visa and health insurance...

5 had a wonderful time and in touch with host families and two host families invited to weddings...

One only here for a couple of weeks to New York... her family said it was overwhelming and she was back home.

From all the young ladies it was similar... U.S.A. great to be young and single... not so good to raise a family.

In Austria it is 2 years off with employer holding your job per newborn up to 3 consecutive times so being off 6 years with pay and job waiting is one huge perk... the 43 days vacation another and full coverage medically necessary* Health Insurance another...

Each town has a retirement home with assisted living,,, many seniors want to go because they are among friends and church daily.

In total I’ve spent 2+ years in German speaking countries and the stress level and saving for retirement and healthcare issues not on radar... maybe it is the free beer employers like BMW provide line workers at meal time?

Material goods distribution way less than America and cost often much higher even for things made in Europe.

Then there is fantastic Health Care but for elderly not so good but improving...

My nurse/doctor friends said it would not be possible for a 98 year old to have hip or knee replacement like in the states...

Dental is odd too... you accept what is provided and Dentist can’t accept cash pay for items not deemed medically necessary in country but the work around is Germans travel across border to Austrian Dentist and Austrians to German Dentists and cash pay for things like implants.

In my circle the only ones staying is a Swiss Couple with a business but after 15 years thinking of going back.

 

[arto98607]

Good friend of mine who grew up in Northern Europe moved to Western Canada back in early 70's and after that moved back and forth twice, finally settling in Western Canada for good.

According to him the biggest reason moving back to this continent was the rationed health care for older folks like him in Northern Europe!