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Ask Paul: Should I retire to the UK after 14 years in Australia?

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After 14 years in Australia and a recent heart surgery, should I move back to the UK to retire?

Reader question

Hi Paul, I am a 51-year-old immigrant from the UK who has been in this amazing country for 14 years.

Ask Paul Should I retire in the UK after 14 years in Australia

I co-parent my 10-year-old son and am renting. I sold an apartment in the UK, which I made a small profit on.

I have managed to bring myself back from the brink and have $150,000 in savings and have kept my super, which between the UK and Australia is about $600,000.

I've recently recovered from heart surgery. I'm looking for ideas on how to move forward if I make it to retirement age.

I'm thinking of retiring in the UK where I could afford a retirement apartment. - Martyn

Paul's response

You have been through a lot, Martyn. I do hope your heart surgery has gone well.

The part of the puzzle I am missing is if you are still able to work. As you have such an excellent super balance, I am sure you have worked but may not be able to at the moment for health reasons. It is great you have secured rental for the next year, but I think the two key issues are if you are able to work in the future and, of course, your 10-year-old son.

If you see retirement at around 65, that means another 14 years before a potential move back to the UK.

Frankly, that is just too far in the future to build it into a firm plan. With our quite incredible health system, I know you will get world-class care for your health issues. I hope that allows you to build more of a year-to-year plan.

If I assume you are back at work, your super and savings will build. I believe that is your best plan, to strengthen your financial position as much as you can. I'd be cautious about a move to the UK at retirement.

Many have tried a move at that age and found their home is no longer in their country of origin; their friends, kids and life are here. You would also need to consider our age pension system, which, while not perfect, is one of the best safety nets in the world.

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Paul Clitheroe AM is the founder of Money and serves as the publication's editorial adviser. One of Australia's most trusted personal finance experts, Paul has spent decades helping Australians build wealth, manage debt and make smarter money decisions. He is widely known for host­ing the Money TV program and authoring best-selling personal finance books. Since launching Money in 1999, he has played a leading role in delivering practical, independent financial guidance to Australians. Paul is chair of InvestSMART Financial Services. He was the founding chair of Ecstra Foundation, a national not-for-profit focused on improving financial wellbeing, from 2018 to 2026, and led the Australian Government's Financial Literacy Board and Financial Literacy Australia from 2004 to 2019. In academia, Paul is chair in financial literacy at Macquarie University, where he is also a Professor in the School of Business and Economics. Ask Paul your money question. Due to volume, Paul cannot respond to questions posted in the comments section.
Comments
Mike Richards
March 1, 2026 4.41pm

You would do well to research and look at how things are over in the UK before you think about going there...maybe go back for a holiday and especially nearer the time you plan on leaving Australia, to see how things are before you commit to the move back.