We have been debating the move to Italy for a few years now. We actually had plans to move in October of 2006 and we are still here, thanks to the Euro!

Can we live with $6,000USD (6,000/1.55= about 3,900 euros)? Two of us, not exagerated lifestyle, but confortably. At first we would rent and eventually find something to buy cash. Now, we got the Italy bug again...

Thanks, Sandra

Do you mean $6000 per month? If so, definitely. We live on less than a third of that, though our house is paid for.

€3900 per month - right ? Allowing rent...gas...electric...phone (cell/landline)...car...food...entertainment...and a bit set aside for emergencies, I'd think you'd enjoy an enviable lifestyle for that.

$6000 per month! Wow! Depending on where you want to live that will be more than enough to have a wonderful life! Remember, if you want to live in Rome you'll pay a lot more than if you live in a small town almost anywhere in Italy!

We live a fairly austere life here in Umbria with a mortgage and a monthly income of about $2500/mo. With no mortgage and $6000/mo we could live the life we wanted, which would include traveling around Italy and Europe.

Go for it!!

Unless you are going to rent a very expensive apartment in Rome and shop only at Prada, you can live on that no problem.

....concur with the above. I say go for it. My one concern with such a move would be to have a plan of where I thought I would like to get my healthcare and how do I plan to pay for it.

Ummm...you should probably know that many, many of us on this board live on waaaaay less than that. In Italy you'd be quite well off on that salary -a normal salary here is 1000-1500 euro a month and the country is going through an economic crisis.

If you are not wasteful you can live rather well. An average one bedroom apartment in Turin cost 400 to 600 euro a month, a two or three bedroom can go for anywhere from 600 to 1200 euro.

In Naples you can find a one bedroom for under 300 euro, three bedroom for 600 to 1000 euro depending on the area. In the smaller towns I have friends who rented big two / three bedroom apartment for 400 euro.

Everything else depends on how you want to live and spend.

quote:

Originally posted by Bill 2:
Do you mean $6000 per month? If so, definitely. We live on less than a third of that, though our house is paid for.

Yes, Bill, $6,0000 a month, but in US dollars so we have to allow room for conversion, and that's where we get nervous...if $3,900Euros is sufficient. Being that this is all pensions/Social Security, I assume we do not need to pay Italian income tax. Right?

quote:

Originally posted by Stefanaccio:
....concur with the above. I say go for it. My one concern with such a move would be to have a plan of where I thought I would like to get my healthcare and how do I plan to pay for it.

Yes, quality of healthcare is the top priority, I had breast cancer 5y ago and need follow-ups. I want to enroll on the Italian National Health Care. And eventually cancel my Blue Cross. We pay a fortune, $1,000USD a month in US health plus my meds...But I have no choice with my pre-existing condition.

See http://rome.usembassy.gov/irs/files/ssa.asp
As a dual citizen you'll need to report US Social Security payments on your Italian tax return, as well as your US tax return, but it will not be taxed by the US.

Bill, if I am collecting SS Disability in the states am I eligible to collect for disability in Italy as well?

I'd give SSA a call- I don't know.

quote:

Originally posted by Bill 2:
See http://rome.usembassy.gov/irs/files/ssa.asp
As a dual citizen you'll need to report US Social Security payments on your Italian tax return, as well as your US tax return, but it will not be taxed by the US.

Thanks Bill.

Any idea of what the tax rates are in Italy on the income I mentioned? SS and 2 pensions. Any exemptions? Also, for the Health system, being that we are both dual citizens, do we pay for health care based on the retirement, how they calculate what our fair share would be to enter into the system? I know we have to pay the ticket and etc. but I also know you have to pay an yearly fee to be part of the system. My husband is 66, but I am much younger, under 40!

My wife has never paid an annual fee. Hopefully some of our Italian members will answer this one.

quote:

Originally posted by idealab:
An average one bedroom apartment in Turin cost 400 to 600 euro a month, a two or three bedroom can go for anywhere from 600 to 1200 euro.

In Naples you can find a one bedroom for under 300 euro, three bedroom for 600 to 1000 euro depending on the area. In the smaller towns I have friends who rented big two / three bedroom apartment for 400 euro.

Does anyone know the average price per month of a 2 or 3 bedroom around Genova?

Do you mean in the city, the suburbs or one of the coastal towns/villages close by?

Hi Valli,
We'd like to live in one of the coastal villages near Genova, if they're not too expensive. How do the prices there compare to the city itself?

quote:

Originally posted by Bill 2:
My wife has never paid an annual fee. Hopefully some of our Italian members will answer this one.

Thanks again!

Regarding the income tax, still a bit confused So both Italian citizens living in Italy receiving SS and pensions from the US must report on both countries according to the link you posted; however, where are you taxed? US or Italy?

According to the IRS link I posted, as a dual citizen you wouldn't pay US tax on SS income, but you must report it on your US and Italian tax returns. To deteremine whether it is enough income to be taxable by Italy, you'd have to speak with a commercialista.

My understanding on private pensions, other than civil service and military, is they are taxable by both Italy and US, but you may take credit for tax paid to Italy so you are not double-taxed by the US on the same income. See http://www.irs.gov/businesses/international/article/0,,id=169601,00.html

Bill,

I was playing around with the PF2008 and played as if we were filing our taxes in Italy. Considering the amount I had mentioned before $3900E for 12 mos. is 46,800E year. Obviously no deductions other than spouse, we would have to pay, 13,200E in taxes, if that is the ball park, that's a lot. Granted here in the US we have more deductions, but we are nowhere close to that...Any insight? One of our cousins is a commercialista, I could eventually ask him, but in the meantime, picking everyone's thoughts.

Thanks, Sandra

Yes, I'd speak with a commercialista. They would know about deductions we don't.

[QUOTE]Originally posted by il_Viaggiatore:
Hi Valli,
We'd like to live in one of the coastal villages near Genova, if they're not too expensive. How do the prices there compare to the city

Hi there, this was posted a while ago by a very helpful Genovese member. It concerns city/suburb rentals ....I think I have some info somewhere on rentals out of the city which I'll dig out and you could compare.

I'm Marco this is my first post on this forum, I saw you were looking for info about the city where I live and I read also your other post....

Concerning your question you should be a bit more specific about the budget you have, I mean, it changes a lot according to the neighbourhood you want to live in, also if you are a student you may consider the "ostello della gioventù", youth hostel, or are you comming here for working or as tourist?

Ok here follows a list of the city neighbourhoods with my comment concerning the costs:

Historical Center (called Vicoli): very cheap/cheap (but some area are not very good and are dirty)

San Fruttuoso : quite cheap and affordable

Marassi : same as San Fruttuoso

Sampierdarena: quite cheap and also not bad

Pegli and Sestri: quite cheap not bad but quite far from the city center

Foce : quite expensive /expensive

Sturla/Quarto: quite expensive

Castelletto: expensive (residential area)

Albaro: very expensive (residential area very nice)

Nervi: expensive and quite far from the city center

For a rent the minimum could be 350 euro/months or maybe less in the Historical center for a monolocale (only a room with attached kitchen/bathroom).