What monthly figure do you need in retirement ?

fatbeetle

Murphybear wrote: »

We have ~ £21,500 pa between us. We run 2 cheap cars and eat out during the day quite a lot. We spend a lot on petrol when the weather is fine on day trips throughout the West Country. We don't spend much on holidays, the occasional holiday cottage up North.

Not dissimilar to our plans. We will be in the West Country, (deepest darkest Kernow,) but hope to run one car and a campervan.

Bigmoney2

Record your outgoings currently, this will give an idea of what you spend. Look at what you want to do in retirement e.g NT, golf club memberships etc.
See where you could cut back, travel to work will be gone but may spend just as much on days out.
Some things you can't change rent? council tax.
As others have said some are quite happy in 13k, depends if you have savings available for larger/unexpected things, new boiler/car, holiday

Danny&Kit

We recently moved to Fuerteventura everything is so much cheaper than in the UK renting usually includes all your bills and the rentals can be as low as €400 a month if your retired healthcare is free and the care is excellent, food is cheaper and you can get a pint for €1 not to mention the weather that makes all your aches and pains disappear you can also take €22000 over yearly provided that your only income is your pension with no other form of income. Go for it.

Davesnave

Danny&Kit wrote: »

We recently moved to Fuerteventura .

That's interesting. Two days ago, you said: "we will soon be moving to Fuerteventura to stay and become Spainish residents." which you posted in the Local Moneysaving- Scotland section. (????)

https://forums.moneysavingexpert.com/discussion/comment/72862822#Comment_72862822

If you want advice on transferring titles / deprivation of assets, I suggest posting in the House Buying and Renting section, where you will definitely receive answers, though maybe not always the ones you want!

We'll enjoy having your assessment of living in the Canaries in a year or two.