Will get loads of hysteria in response to this (like lots of Qs on MN).
I think I could manage on £7k in today's money. The tax-free allowance for pensioners, is that about £10k? If you don't have commuting costs or a mortgage, then given the benefits available to elderly (heating allowance etc.) this is usually plenty to get by as annual income. Though I know a family raising many kids on barely any more income. Depends on your frugality skills.
You must have a massive pension pot or great final salary to get 30k a year. I’d be happy with that.
I have another 20 yrs or so to work and currently pay with employer input 1200 a month and for first time this year added my entire bonus. I don’t think my predictions are near 30k. You need to save more if you want more.
Can’t believe people are saying £7000 is adequate to live on! I mean maybe if you want to live a completely frugal Life, never going anywhere or doing anything, but I for one intend to do lots when I retire
You’ll just need to stack more money away op. Is it just you who’ll be living off 30k or do you have a partner? If so will they be bringing in a pension too?