Investment

Luna3

Please feel free to move this if it’s not on the correct thread.
Would anyone have any idea how much a total investment would need to be to get a return of £2000 a month from it?
Thank you for any advice.

Prism

It depends on how long you want the income but possibly around £800k

Aidanmc

1.6M assuming interest @1.5% and the return interest is not reinvested

Albermarle

It depends on the nature of the investment .
A higher risk investment ( largely in shares for example ) could produce this level of income sustainably with approx. £500K as a minimum invested . However it is not guaranteed and would need careful managing , maybe with an IFA.
As said above a very low risk investments in savings accounts would need a much larger figure ( maybe not as high as £1.6 million , but close )
Something in the middle - a mixture of shares, bonds and cash - could be around £800K but again would need careful management .
The difficult part is inflation as to keep up with that the £24K a year would have to grow a little every year just to keep up with inflation .

AnotherJoe

Luna, not enough info on the background behind this to answer.

Reluctantpensioner

One number recommended number for "safe" drawdown for the UK is 3.7%/year for a typical 30 year retirement.

£2000*12/3.7%=£648,648

This is based on a portfolio invested 60% equity 40% bond.
This assumes a need to accommodate inflation (so the £2000/mo is only the first year).