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 Post subject: Can I retire in Turkey with $1 million (USD)?
PostPosted: Thu Mar 12, 2009 8:56 pm 
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Joined: Fri Mar 06, 2009 9:42 pm
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Location: Beverly Hills, CA
I have one million US dollars in savings and I want to retire early.

If I retire in the USA, my money will not go very far, because America is a wealthy nation with expensive goods and services. That is the price we pay for being the greatest nation on earth.

I wonder if I could live like a king (or sultan) in Turkey for the next 30 years if I simply buy a mansion somewhere along the west coast or something? Or will I still have to work?

Is $1 million enough to retire in Turkey?

And there is no need to respond with nastygrams. I just want helpful advice from smart people who maybe already did this.


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 Post subject: Re: Can I retire in Turkey with $1 million (USD)?
PostPosted: Fri Mar 13, 2009 5:36 am 
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Joined: Tue Oct 02, 2007 1:30 pm
Posts: 381
Location: Excommunicato
So, does that mean that when we feed this Troll, we'll need to use rhetoric from only the finest establishments? Given the sophistication of the American palate, can't we just toss it pritty much anything?


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 Post subject: Re: Can I retire in Turkey with $1 million (USD)?
PostPosted: Fri Mar 13, 2009 3:05 pm 
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Joined: Sat Feb 21, 2009 8:17 pm
Posts: 24
you could buy a thırd ıf turkey if you had that money
mccauley wrote:
I have one million US dollars in savings and I want to retire early.

If I retire in the USA, my money will not go very far, because America is a wealthy nation with expensive goods and services. That is the price we pay for being the greatest nation on earth.

I wonder if I could live like a king (or sultan) in Turkey for the next 30 years if I simply buy a mansion somewhere along the west coast or something? Or will I still have to work?

Is $1 million enough to retire in Turkey?

And there is no need to respond with nastygrams. I just want helpful advice from smart people who maybe already did this.


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 Post subject: Re: Can I retire in Turkey with $1 million (USD)?
PostPosted: Sun Mar 15, 2009 9:39 am 
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Joined: Sun Jul 15, 2007 1:12 am
Posts: 677
If you're planning to live on that for 30 years then I'd say it depends upon your lifestyle and how you want to live.

If you have dependents, get ill or travel extensively then I'd say it's unlikely that it would last the 30 years; it is only 33k per annum after all.


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 Post subject: Re: Can I retire in Turkey with $1 million (USD)?
PostPosted: Mon Mar 16, 2009 12:41 am 
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Joined: Fri Oct 10, 2008 9:18 am
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Location: Istanbul, Cihangir
With your inherent fear of muslims and terrorism (as described in your other postings) I reckon you could only fund your private security force for maybe 2 - 3 years before the funds run out.


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 Post subject: Re: Can I retire in Turkey with $1 million (USD)?
PostPosted: Mon Mar 16, 2009 5:26 am 
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Joined: Tue Oct 02, 2007 1:30 pm
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Location: Excommunicato
"1 million" is a comic-book-number, a cinematic archetypal symbol of wealth- a fabrication. Anyone who actually produced these funds wouldn't need to solicit retirement advice from a public forum- they would necessarily have the resident financial acumen to account for the accumulation. Sure, strong/radical dispositions can be found in any class- but the emotional maturity typified by this degree of success is most certainly not in evidence. We should take the statement as seriously as Dr. Evil coming out of deep freeze to hold the world ransom for a mere million. I contend that the smart money is still on Troll.

Of course, he could be a trust-fund-child. Sometimes money just happens.


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 Post subject: Re: Can I retire in Turkey with $1 million (USD)?
PostPosted: Thu Mar 19, 2009 7:59 pm 
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Joined: Mon Mar 09, 2009 1:46 pm
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mccauley please go away and invest your little money someplace else, you dont deserve to live in Turkey .


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 Post subject: Re: Can I retire in Turkey with $1 million (USD)?
PostPosted: Sun Jan 18, 2015 2:15 pm 
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Joined: Sun Jan 18, 2015 1:56 pm
Posts: 1
Mavi Gogun, you can make 1 million without all the characteristics you mentioned, that is very narrow minded, a computer geek can sell a software for that many, anyone can inherit a land or property, or simple buy one by chance and have it bought back years later by a big company that needs that land... You can just be good at something and not have any social skills or even much common sense and still be able to make a lot of money, possibilities are many and to all the rich people fall into the same stereotype.

Investing one million and getting 3% back after taxes in many investments that they also grow with inflation will give you 30K per year and you'll still keep your money (just in case shit happens...) and purchasing power, can you live very well with 2500 USD per month in Turkey? Well if you don't need to live in the city center and you enjoy simple things probably yes, you'll have plenty of time, and if you need to spend a lot to be happy will be difficult, I enjoy reading a book in the beach, doing some sport, playing computer games etc... probably for me will be enough.

How can you get 3% and inflation revaluation? Nothing is for sure, you can try your chances with some diversification, buy 3 or 4 properties in places where the gross rent is 8%-12% or more and the properties have good location and are fairly new, after some crisis you get that, you need someone to manage them, pay expenses, have vacancies etc... I'll do different countries to be safe, I've done that in Philippines (quite a few years ago, and I still keep them), UAE (in the last couple of years) and Hungary (recently) with success getting very good yields and the properties have been reevaluating... You need to look well and spend time researching, areas, laws, tenants etc... but.. you va plenty of time, right? And you know, demographics and location are the key, you won't buy in a bubble if you get a good yield but is always worth it to compare country to country the price/quality, see salaries/rent and others...

Another thing is the stock market, look for companies that are stable with good yields, dividends of 5% at least and follow some simple rules, never buy when the news are very good about economy and there is a lot of optimism, never sell when the news are very bad and there is a lot of pessimism, ideally you'll buy&hold and the diversification will come from the low cost ETF, that's all... just time your new purchases with the very bad news (not talking about companies, talking about general feeling of the economy).

And be patience, your income will come, some will do well, and some will do bad, some of the times, but in average you can expect to do quite well and live fine in a cheap country, my personal preference is South East Asia, but I always like looking around and comparing.


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