[Mike8180]

I would like an up to date answer regarding the minimum required to comfortably retire to Spain.

I would be purchasing a property so no mortgage and an annual income of approx €22000 to live on.

Thanks in anticipation for the answers.

 

[Blanco53]

How long is a piece of string?

Is your 22,000€ net or gross?

Will you be living in the city?

The answer is.......IT ALL DEPENDS!!! Your understanding of "comfortable" may well be very different from someone else.

For me, I would struggle to live comfortably on that figure, but I'm sure there will be those who would disagree. It is a question only you will be able to answer, once you have lived here a while.

 

[gus-lopez]

How long is a piece of string?

Is your 22,000€ net or gross?

Will you be living in the city?

The answer is.......IT ALL DEPENDS!!! Your understanding of "comfortable" may well be very different from someone else.

For me, I would struggle to live comfortably on that figure, but I'm sure there will be those who would disagree. It is a question only you will be able to answer, once you have lived here a while.

Whereas that'd do me for 3-4 years.

 

[xabiaxica]

One way of looking at it, is..... Would it be enough to secure a retirement visa, if after Brexit, one is required?

The answer is 'not quite'.

 

[Michael Kelly]

22k net is a lot more than most people in Murcia earn. With no rent or mortgage, you should be fine.

 

[mrypg9]

22k net is a lot more than most people in Murcia earn. With no rent or mortgage, you should be fine.

It's a lot more than most of my Spanish friends earn.. But then most British immigrants wouldn't like to be living in a small piso in the town centre in a not very attractive apartment block...or in a rundown campo finca.
Most of my Spanish friends don't eat out regularly, dread the water and electricity bills, an urgent dental appointment or a necessary car repair.
That's not the kind of retirement most UK immigrants to Spain want.

The 22k euros is I'm guessing based on the current exchange rate. We don't know how many people that 22k euros has to cover.
But currently it's an income of lessthan 2k a month and may well shrink if the £sinks again.
That may have to cover IBI, house repairs and maintenance, car repair and maintenance, possible future health insurance depending on Brexit negotiations, tax deducted, utility bills, replacement of domestic items, dental care and so on....before you put food on the table.

So much depends on your expectations and the kind of lifestyle you wish to enjoy.
And of course on the kind of Brexit the UK manages to negotiate.....

 

[Maureen47]

I think you could manage on that amount but it depends where you live. In our small village costs are less than on the coast so going for a coffee or menu of the day is not a big expense. Our water bill is cheap but electricity not so. The council tax equivalent is a lot less than the UK but so is our income ! It wouldnt cover many 'extras' in my opinion nor allow you to save much for a rainy day. Its a really difficult one to answer and as other posters have commmented who knows how the excahnge rate will fair and the requirements to live in Spain post exit of the EU. Good Luck and hope your plans work out ;-)

 

[mrypg9]

Duplicate, Mods please delete, thanks

 

[mrypg9]

We've spent a lot more now we both work at the dog rescue perrera. We run two cars as we don't always go at the same day or time and always take dog treats with us for the shelter dogs, sometimes cooked rice and chicken. Then there's our own two dogs...
Fuel bills have doubled to over 120 euros a month for the two cars. WE couldn't have done that on a tight budget.

But it's our choice, the way we want to live here. That's why it's very difficult to tell people what it will cost to live here.
So many variables - size and location of house/flat, lifestyle, exchange rate....and then things you don't expect, both bad like repairs, dental work, and good, like our decision to work for an animal charity plus my involvement in local political life, none of which I anticipated when we arrived here nine years ago

 

[baldilocks]

So much depends on the type of lifestyle you envisage. If you are always eating out, down the bar every day, lunchtime and evening, run a fuel hungry car, take several holidays a year and more, then, you will not manage on that amount. We (3 adults and two small dogs can manage reasonably well on my OAP plus a bit more now that the pound has devalued, BUT, we live in a village away from the high life and the costas prices. A new three bedroomed flat with all new appliances, lift and a good view will set you back €250 per month here.

 

[95995]

Definitely a question of lifestyle expectations, and, of course, the exchange rate will always be an issue D). However, I can't see why a single person owning their own property would not be able to live relatively comfortably on that amount in Spain, given it's certainly possible in France where most costs are apparently higher.

 

[Blanco53]

Whereas that'd do me for 3-4 years.

Assuming that the 22,000€ is after tax (and that is a big assumption), what you appear to be saying is that you can live "comfortably" on 460€ to 610€ a month.

Clearly, our ideas of "comfortable" are very different!!!!!!

 

[mrypg9]

Assuming that the 22,000€ is after tax (and that is a big assumption), what you appear to be saying is that you can live "comfortably" on 460€ to 610€ a month.

Clearly, our ideas of "comfortable" are very different!!!!!!

As our capacity for arithmetic.

22k a year according to my calculator gives 1833 euros monthly.
I expect you meant 460 euros a week.

 

[xabiaxica]

As our capacity for arithmetic.

22k a year according to my calculator gives 1833 euros monthly.
I expect you meant 460 euros a week.

ahhh but gus said it would last him four years.....

 

[mrypg9]

Some people in Spain do of course live on that amount....I think our dogs cost us roughly that, everything taken into consideration.

It helps when posters reference the posts to which they are responding, doesn't it....

 

[baldilocks]

ahhh but gus said it would last him four years.....

Gus said 3-4 years so taking the more optimistic route 3 years is 7.333€ per year or 611€ per month. The OP said there would be no rent or mortgage and providing there is no extravagant lifestyle and the accommodation is in an inland village, that would be do-able.

 

[Blanco53]

As our capacity for arithmetic.

22k a year according to my calculator gives 1833 euros monthly.
I expect you meant 460 euros a week.

I know exactely what I meant and my maths skills are fine.......sadly it appears your reading/comprehension skills are in need of a little attention.

.....and you with all your experience too. Who would have thought?!!! A real Sandy Brown moment!!!

And having read your toe curling response.......I did "reference the posts to which they are responding", I quoted in the post: "Whereas that'd do me for 3-4 years" I'm not sure what more I could have done. But hey what can you do with folk who have their own rather sad agenda?

 

[Blanco53]

Gus said 3-4 years so taking the more optimistic route 3 years is 7.333€ per year or 611€ per month. The OP said there would be no rent or mortgage and providing there is no extravagant lifestyle and the accommodation is in an inland village, that would be do-able.

Is "do-able" ..........comfortable?

My point for highlighting the figure 460€ to 610€ a month is that there will be folk reading this in the UK (or elsewhere) and think they can live "comfortably" in Spain on that sort of income. I'm pleased that gus can live on this figure....but I would suggest that there are many (including me) who can't.

 

[baldilocks]

Is "do-able" ..........comfortable?

My point for highlighting the figure 460€ to 610€ a month is that there will be folk reading this in the UK (or elsewhere) and think they can live "comfortably" in Spain on that sort of income. I'm pleased that gus can live on this figure....but I would suggest that there are many (including me) who can't.

Well that's your problem then isn't it? There are those of us who aren't profligate spenders who can live "comfortably" on that sort of figure. Obviously there are those who are wasters not only of money but also the world's resources who might have difficulty in just about managing rather that living comfortably on 20k€ per week let alone per annum.

 

[Michael Kelly]

I used to be a very free spender until I became unemployed for 6 months. During that time I learned the value of a euro.