Enough Income
#1
Just Joined
Thread Starter
Joined: Oct 2007
Posts: 6
Enough Income
Hi. I am desperate to retire to Spain. Unfortunately there is a small problem and this is retirement is some 19 years away. Allowing for a sensible rate of inflation my yearly pensionable income will be £8500 pre-tax. Can anyone tell me if this will cover the basics/necessities please.
Thanks very much,
Mark
Thanks very much,
Mark
#2
Re: Enough Income
Hi. I am desperate to retire to Spain. Unfortunately there is a small problem and this is retirement is some 19 years away. Allowing for a sensible rate of inflation my yearly pensionable income will be £8500 pre-tax. Can anyone tell me if this will cover the basics/necessities please.
Thanks very much,
Mark
Thanks very much,
Mark
I'm sorry but can you clarify something? - are you saying in 19yrs your pension will be £8.5k, or are you saying it would the equivalent of £8.5k in todays money?
If you're saying it would be the equivalent, I would guess it would just cover the basics assuming you had no or very little rent to pay.
Last edited by leighbloke; Oct 12th 2007 at 11:26 pm.
#3
Just Joined
Thread Starter
Joined: Oct 2007
Posts: 6
Re: Enough Income
Sorry I should have been more clear. I did mean the equivalent of £8500. Thankyou for your response,
Mark
Mark
#4
Re: Enough Income
Hi. I am desperate to retire to Spain. Unfortunately there is a small problem and this is retirement is some 19 years away. Allowing for a sensible rate of inflation my yearly pensionable income will be £8500 pre-tax. Can anyone tell me if this will cover the basics/necessities please.
Thanks very much,
Mark
Thanks very much,
Mark
That amount is about the alleged average wage in Spain.
Are you talking one or two people, by the amount of pension, I am guessing one.
Do you need a car, what lifestyle do you want, etc, etc ?
At the moment, depending on area of Spain, this would be ok for two people to live including rent for an apartment.
Now in twenty years, who knows ?
I would imagine this amount would of been excellent twenty years ago and lifestyle would of been much better with that amount then.
Last edited by jdr; Oct 13th 2007 at 6:22 am.
#5
Re: Enough Income
I don't want to be the bearer of bad news but I think you'll have to consider becoming an Estate Agent!
#6
Forum Regular
Joined: Sep 2007
Location: Denia (Alicante)
Posts: 244
Re: Enough Income
how long is a piece of string?
#7
Just Joined
Joined: Oct 2007
Location: torrox,malaga
Posts: 1
Re: Enough Income
hola,
wages out here are very low compared to the uk. £8,500 is an ok figure and you will find it will go further here than in the uk.(as long as you dont buy too many british products pg tips marmite ect as these are very expensive out here. i have recently started a business and i am surviving on alot less that that, even with going out 5 nights a week to bars and eating out 3 times a week............do the move youll not regret it!!!
wages out here are very low compared to the uk. £8,500 is an ok figure and you will find it will go further here than in the uk.(as long as you dont buy too many british products pg tips marmite ect as these are very expensive out here. i have recently started a business and i am surviving on alot less that that, even with going out 5 nights a week to bars and eating out 3 times a week............do the move youll not regret it!!!
#8
Re: Enough Income
hola,
wages out here are very low compared to the uk. £8,500 is an ok figure and you will find it will go further here than in the uk.(as long as you dont buy too many british products pg tips marmite ect as these are very expensive out here. i have recently started a business and i am surviving on alot less that that, even with going out 5 nights a week to bars and eating out 3 times a week............do the move youll not regret it!!!
wages out here are very low compared to the uk. £8,500 is an ok figure and you will find it will go further here than in the uk.(as long as you dont buy too many british products pg tips marmite ect as these are very expensive out here. i have recently started a business and i am surviving on alot less that that, even with going out 5 nights a week to bars and eating out 3 times a week............do the move youll not regret it!!!
#9
Ex Expat
Joined: Oct 2006
Location: West Midlands, ex Granada province
Posts: 2,140
Re: Enough Income
My husbands Teachers Pension is around £7.5k and we (two adults) can live reasonably well on this except for expensive one-off items which have to come from savings. We do have a small amount of other income, but we try to save this for the aforementioned one-off expenses. Altogether from all sources, we probably have around £9.5 a year, but the Pension is what we live off.
We live in inland Andalucia, have no rent or mortgage, don't need private medical insurance, don't smoke, do not have Broadband or Sky TV and have one nine-year-old car. We go out 2-3 times a week for tostadas for breakfast and 1-2 times a week to a bar in the evening -these are Spanish-run village bars so much cheaper than the Brit bars on the coast. We do not go mad with our lives, but I don't think we go without either.
Hope this helps.
We live in inland Andalucia, have no rent or mortgage, don't need private medical insurance, don't smoke, do not have Broadband or Sky TV and have one nine-year-old car. We go out 2-3 times a week for tostadas for breakfast and 1-2 times a week to a bar in the evening -these are Spanish-run village bars so much cheaper than the Brit bars on the coast. We do not go mad with our lives, but I don't think we go without either.
Hope this helps.
#10
BE Enthusiast
Joined: May 2006
Posts: 373
Re: Enough Income
My husbands Teachers Pension is around £7.5k and we (two adults) can live reasonably well on this except for expensive one-off items which have to come from savings. We do have a small amount of other income, but we try to save this for the aforementioned one-off expenses. Altogether from all sources, we probably have around £9.5 a year, but the Pension is what we live off.
We live in inland Andalucia, have no rent or mortgage, don't need private medical insurance, don't smoke, do not have Broadband or Sky TV and have one nine-year-old car. We go out 2-3 times a week for tostadas for breakfast and 1-2 times a week to a bar in the evening -these are Spanish-run village bars so much cheaper than the Brit bars on the coast. We do not go mad with our lives, but I don't think we go without either.
Hope this helps.
We live in inland Andalucia, have no rent or mortgage, don't need private medical insurance, don't smoke, do not have Broadband or Sky TV and have one nine-year-old car. We go out 2-3 times a week for tostadas for breakfast and 1-2 times a week to a bar in the evening -these are Spanish-run village bars so much cheaper than the Brit bars on the coast. We do not go mad with our lives, but I don't think we go without either.
Hope this helps.
You do not need a large amounts of money to lead a healthy, peaceful, stress free life.
#11
Re: Enough Income
Hi. I am desperate to retire to Spain. Unfortunately there is a small problem and this is retirement is some 19 years away. Allowing for a sensible rate of inflation my yearly pensionable income will be £8500 pre-tax. Can anyone tell me if this will cover the basics/necessities please.
Thanks very much,
Mark
Thanks very much,
Mark
Right now, its enough ..... in 19 years time ...... your guess is as good as mine
#12
Just Joined
Thread Starter
Joined: Oct 2007
Posts: 6
Re: Enough Income
Just to clear something up £8500 is the equivalent of todays salary i.e. allowed for inflation at 3% so it may actually be £25000 then (just a guess) We don't go out much but will have satellite tv and broadband. We also currently have a shopping budget of £200 a month for 2 + a child and will be running a small economical car once there.
Thankyou for all the responses so far,
Mark
Thankyou for all the responses so far,
Mark
#13
Re: Enough Income
Just to clear something up £8500 is the equivalent of todays salary i.e. allowed for inflation at 3% so it may actually be £25000 then (just a guess) We don't go out much but will have satellite tv and broadband. We also currently have a shopping budget of £200 a month for 2 + a child and will be running a small economical car once there.
Thankyou for all the responses so far,
Mark
Thankyou for all the responses so far,
Mark
retirement is some 19 years away. Allowing for a sensible rate of inflation my yearly pensionable income will be £8500 pre-tax.
#14
Forum Regular
Joined: Sep 2007
Location: Denia (Alicante)
Posts: 244
Re: Enough Income
Come back in 18 years and we will have an answer!
#15
Re: Enough Income
It's really impossible to guess that far in advance, as people say, there are people living well on that sort of figure now, but without a crystal ball it's impossible to say what the position will be in 18 years. Given the figures and your requirements, then I suspect you would be OK but.......