This is the newly published estimation for retirement spending v.s. quality of life.
Tell me what your thoughts are and if you have a good plan in place at all?
We moved between countries a few times and therefore didn't start saving until fairly late (mid-30s). Really worry now if we have enough time to save for retirement, especially I've been SAHM for a while after second was born.
"The annual income you will need in retirementLiving standard Single Couple
Minimum £12,800 £19,900
Moderate £23,300 £34,000
Comfortable £37,300 £54,500Source: Loughborough University and the Pensions and Lifetime Savings Association. London figures higher
Will you have enough money to enjoy life in retirement? How much do you need to save?Living standard Single Couple
Minimum £36,500 £0
Moderate £248,000 £121,000
Comfortable £530,000 £328,000"
https://amp.theguardian.com/money/2023/apr/15/uk-pensions-how-much-retire-cost-of-living-inflation-income