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how much do you need to retire?

 
#1 how much do you need to retire?
10/03/2011 22:37

anon

If you want a retirement income of say £40k how much would you need in the bank to earn that each year with relatively low risk?

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#2 RE: how much do you need to retire?
10/03/2011 22:40

baykus to anon (#1)

Try this amazing new site: google.com

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#3 RE: how much do you need to retire?
10/03/2011 23:41

actually table to anon (#1)

right now? - about 1 million

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#4 RE: how much do you need to retire?
11/03/2011 09:07

rc to actually table (#3)

you'd have to actively sweat a million to get 40K out of it - a friend of mine has a country house of that value that they use for very short term lets (wedding parties etc) and get pretty much that revenue, but it's active work and carries risk. leaving it in a bank gets you squat these days, and giving it to a wealth manager to play with wouldn't let you sleep at night...

I've always reckoned you need 3-4 million in the bank to retire and continue having a decent lifestyle

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#5 RE: how much do you need to retire?
11/03/2011 12:36

sha to anon (#1)

are we talking £40k per annum??

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#6 RE: how much do you need to retire?
11/03/2011 12:52

Mr Cool to rc (#4)

It depends greatly on the age of the retiree. an annuity is based on age, life expectancy, fund value and interest rates at the time of annuity purchase.

A 65 year old would get 40k out of a million no sweat. A 40 year old might struggle.

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#7 RE: how much do you need to retire?
11/03/2011 14:37

McK to Mr Cool (#6)

Start smoking now to bring your life expectancy at retirement down. You'll have a better chance of meeting your £40k/annum objective.

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#8 RE: how much do you need to retire?
11/03/2011 15:35

geeza to McK (#7)

after retirement I intend to outlive my wife then get myself a 25 year old Ukrainian off the internet. How much a year will I need in order to convince a good looking one?

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#9 RE: how much do you need to retire?
11/03/2011 18:01

Actually table to geeza (#8)

A 40 year old might get a 25 year old out of a million. A 65 year old might struggle.

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#10 RE: how much do you need to retire?
12/03/2011 06:15

Gold Digger to Actually table (#9)

Yet a 75 year old millionaire will have a better chance than a 40 year old, and a 95 year old even better.

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