And a lot of people manage with less and still have a good life, especially with no rent or mortgage.

Exactly Moses. Millions aren't required

The difference is that you have a pension of EUR1,500 net per month

Somebody needs 600k euros invested (at least) to get that these days

Bet they dont have their child at international school

It is the lack of pension that is the key here

I repeat, if you retire early (in your 30s) and dont pay into the Spanish system, then you will get no Spanish pension. Zero

I've done the sums believe me

A couple earning that amount can't send their kids to international school

And they will barely be able to save a penny

They will get good pensions though at age 67. Which is the key

Gulp!!!!

Never actually thought of it that way.


So in theory, in theory ONLY, I am quite well off!!

Wish it felt that way!!!!

I agree with you CM. You can "manage" on €1500 but three times that is a good figure if you want a really good standard of living including things like school fees and new cars.

I suspect that the OP is looking for a good standard if they are already self sufficient at their age.

Good luck to them - not all expats in Spain are pensioners on on €1500 a month.

There are many ways of doing it and again depends on the individual. The international school won't be possible, but you aren't spending the 1 million in one go. Saying that you have a paid mortgage and spend 24K a year, that is still only 240K from your million in 10 years. Say you put 700K into a high interest savings account and invested the other 60K into a private pension scheme, you are still pretty wealthy.

Again we are back to ones own lifestyle etc which ends up in the " how long is a piece of string" debate

Certainly I believe with no rent, car already purchased and interest paying your healthcare one can more than just " manage" on €1500 a month

I cant speak for the Costa's, but most international schools are at least €1000 per month per child. And those that aren't, well, check the reputation and certifications.

Besides, why pay that when, with a little language help, your kids can attend public schools for "free". And multi-language fluency will only benefit them anyway.

I do as well. Hurts doesn't it?

Indeed and some people are happy to live a simple life. If a million is required depends on the individual and of course someone who wants to keep that lifestyle will struggle. I don't know what the OP expects and how old they are, but many people actually end up spending more money in Spain if they aren't working. At the beginning it's all great, but sitting in the sun all day can get very boring after a few weeks. When you're bored and have more time, it's easy to spend money. Scotland had a pretty bad summer this year, so unfortunately there will be a lot of younger couples moving for the weather again. We don't know the true figures, but according to data around 40% fail. When you're 65 and have a secure pension life is obviously a lot easier.

Ah but you must factor in the fact that I am a miserable git- hate spending money. Infact I am sooo tight I owe myself money. If I was a ghost I wouldn't give you a scare!!

But seriously it is one of those imponderables which is totally down to ones individual lifestyle.

One thing I have learnt from Cricketmans calculations is I am quite fortunate having the occ pension because as he has highlighted I would need a hell of a lump sum to earn that as income from interest

Exactly. CM's one-size-fits-all-very-barmy-stuff contributions are always funny, but this one is a corker.

Back to Scottish Jo (remember her)......

I recommend you talk to some people who have put their kids through the Spanish system to hear about their experiences. Unless your daughter has some additional needs, I would expect the outcome to be a preference for the State's system.

An additional benefit would be you meeting some local people through the school, so your social circle would be wider and more diverse. You might then pick-up more Spanish which you would certainly need in order to have real choice of employment.

But try to do it, what you said about a more enjoyable life in the sun is absolutely right.