How much to retire?
 

I know this will mean different things to different people as everyones thoughts on what is comfortable is different.

So for the sake of this question, please take these point into account.

1 - How much is needed a year (or lump sum) to retire in spain?

2 - Based on retiring at 55

3 - Comfortable means eating out 3 times a week

4 - one main holiday a year

5 - 2 or 3 weekends away (paris, rome etc)

6 - No having to worry about day to day living expenses

7 - Based on renting in spain at say €500 a month

Re: How much to retire?
 

Well you know what they say..... If you have to ask the price then you can't afford it.

Re: How much to retire?
 

Fair point...... however i believe I CAN afford it but just getting other peoples opinions.

Opinons from people who are living there are very useful, rather than just my own thoughts.

Re: How much to retire?
 

Sounds like you want the lifestyle of those in the major cities, such as Madrid, Barcelona, Malaga, Seville, etc, where flights to the rest of Europe are abundant.
So my initial thought is that €500/m is a bit low but then all depends on where you want to, or end up, living.

And as to cost of living, well that's in your control, dependent on how many there are in the family and where you get the Rolls or Bentley serviced.

You should also consider the cost of private medical as you won't have any local cover and UK cover isn't transportable, at least not until you reach retirement age - whatever that will be.

Please more info on location etc

rgds

Re: How much to retire?
 

Hi

If you live say in the CDS - say 1/2 million - 25 / 30 thousand a year - add 10 thousand a year to live in Barcelona, subtract 5,000 to live in a poor area!

Sort of guess cos I don´t get anywhere near that and don´t live that sort of lifestyle

Davexf

Re: How much to retire?
 

For that kind of lifestyle you are looking at a similar level of income to living in the UK. Plus you have to add on the medical insurance. The plus side is the weather of course.

Re: How much to retire?
 

We are looking at the costa blanca, around the torrevieja area - probably playa flemenca.

i am sure we will find something there for €500 per month, maybe a townhouse 3bed 2 bath, this would be ideal

Re: How much to retire?
 

Read your first post and I thought that sounds like a good plan, a nice lifestyle, and then you went and ruined it when you told us where you intend to do it! :(
PS. it's Flamenca, otherwise it sounds like something you cough up.;)

Re: How much to retire?
 

Based on what you say there, and assuming you choose an area out of cities and not in the more expensive CDS, I would say around €1500 - €1800 a month plus rent, your main costs being the weekends away and main holiday. Eating out 3 times a week here (CB North) would cost you about €48 a week.

I know this, because it's roughly what I do ;-)

Re: How much to retire?
 

Seems a bit excessive...... is it really that bad?

Re: How much to retire?
 

Nooo, many thousands of Brits love it, it's just not for me!:)

Re: How much to retire?
 

At least €2500 pm if you want to run a half decent car and replace it every few years , assuming you are in good health what are you going to do all day? I`d be bored **itless after a month .

Re: How much to retire?
 

€2500 pm seems a pretty sum, I can't see how you can be bored living on that. €1000pm with rent and living costs to pay would leave you with rather less to entertain yourself, unless you liked walking or reading.

Re: How much to retire?
 

better wait a day or two to use the government jargon "could be revised up a bit" depending on the pound?

Re: How much to retire?
 

You appear to have asked a very similar question here in August 2012 but then there were four of you, are you now saying it is just you? if so, what have you done to the other three? I don't wish to pry but I do wonder.:unsure: