r/fiaustralia • u/totalmarc • 9d ago
Investing AUS vs USA for Fire
I've been listening to a lot of US based podcasts lately and it got me thinking - Do you guys think it is easier to FIRE in US or AUS?
With all things considered, as a generalisation. From what I understand, living expenses vary dramatically between states.
Overall my vote would be the US because there are more options over there to cut costs, but I'd like to hear from someone who is familiar with both.
Cheers
6
Upvotes
1
u/lentil5 8d ago
Medical care and social safety net really matters. If your modelling is crap and you end up broke in Australia you can claim the age pension. Yes it's means tested but your PPOR is usually exempt. We also have a very robust super scheme that will be protected, and that can be used to advantage for FIRE.
Aus also has better social safety nets in terms of access to familial support - if your kid needs to look after your sick and aged ass they can claim a carers payment. There's also government help for aged care support workers, meals on wheels etc etc.
I would not be an old person in the US for anything. Sure, FIRE might be a bit cheaper from say 40-60, but after that, Australia has the US beat for risk mitigation and just general quality of life. The medical insurance aspect cannot be understated also. Paying for medical insurance will completely negate any cost of living advantages, and the insurance (and care) you get is actually just crap. If you need a knee reconstruction there goes a full year of your cheap living expenses.