How much money would you need to leave the rat race and have a simple life?

[ihatethecold]

How much money would you need per annum to live off comfortably?

Where would you live? UK? Abroad?

How much equity would you want to take with you so you don’t have housing costs to factor in to monthly outgoings?

Would you do it if you could afford it?

I’m really curious to your answers.

I think we could do this but it feels like a bonkers idea.

Shush I said a crash pad in London too

@scaryteacher ...in similar bracket, I've been early retired a while now and hope to pay additional NI contributions without going back to work. It's an option.

£25k should buy you a nice caravan on an 11 month site, with no age limit.
Factor £3k for fees, gas and electric, allow for rise each year
Then a couple of grand more for your month long sunshine holiday
After initoutlay I reckon you could live well for £15 k

@witsending Dh has offered to make up the missing years, which are from 14/15 onwards, as dh is no longer employed by the MoD I don't get NI credits for being abroad. I want a job where I don't pay a shedload of tax, but earn enough to pay NI to make up my missing years. No point in paying it up front when I could work and end up paying double.

Dh's Forces pension is already being paid, and my TPs and LGPS kick in when I'm 60. I only want to work for 8 years or so, unless it's something I really love.

You can rent flats in Tenerife for €200 a week in the winter if you know where to look.

I always think if you’re not working you need an awful lot more money than when you are working to occupy yourself!

I

We stayed where we were the NW, but have never been in the rat race.
I don't work and dh a freelance musician, picking up work where and when he wants to.
money between 11k/20k per annum.
We don't need or want anymore.

We could live a good life on £500(and half that as OK life) a month in h’s home country. To live similar lifestyle in England - my home country- we would three times that amount. At least. I’m practicing his language as prep for retirement ...

If you have a look at the Mr Money Mustache website, he recommends 25x annual living expenses (as historically a 4% withdrawal rate would have been safe from your investments) plus a paid-off house (simplistic explanation)

sounds interesting , I will check out that site

We have just moved somewhere rural but DH still working, could you do something like that with one of your working to cover day to day and holidays. £350k will buy lovely houses in the countryside in a lot of areas. Do think it through though currently DH and the kids love this and I am bored silly. May change but testing it out first helps and really thinking about what you would do. I do love the safety and beauty of place and only been in house a month or so.

I was very tempted to live in Atherton Tablelands in Australia by the animals / Great Barrier Reef / rainforest but do have to be careful of what makes a perfect holiday isn't the same as doing that forever.