To ask how much money you would need to live comfortably

[PaddleBoardingMomma]

Imagine you get £x amount deposited into your bank every year, no questions asked, tax free, you don't have to do anything for it and it will always be there without fail until you pass away.

How much would you need to live the life you want to? You could work if you wanted, or not. Put some into savings or spend it all knowing the next lot will always be there.

So what's your personal magic amount?

(Try not to be toooo greedy, I'd like to hear about peoples every day wants and needs that would be covered and no longer a stress to them, along with a few luxuries or holidays etc)

I think mine would be about £50k a year. I'd be happy with that and we wouldn't want for anything.

I am mortgage free already so I reckon if inflation linked £27000 a year would see me comfortable. A couple of holidays a year from that should be doable. Not high maintenance in the hair and beauty department so really not much I would need.

Hmmm I reckon we'd live pretty splendidly on 70k post tax per year (each)

We have a big mortgage and this would include putting money into pensions (but that would still allow us to save)

I'd also say £50k although I'd need to carry on working and save it for a few years so I could buy a house. Then I'd leave work and £50k per year would happily cover my living costs and a couple of good holidays a year.

@Matilda1981

My mortgage is £80k a year so I’d defo need at least £110 - would love to have £30k a year without having to work!

What kind of palace do you have that costs you nearly £7 a MONTH?

£80k mortgage a year is crazy! Mine is a bit over 2k a month which I thought was bad.

To answer the question, I live pretty comfortably on my salary which is around £85k after tax. So I’ll take that thanks, then I could give up work which would be bliss. If my mortgage was paid off then £50k would do nicely.

60k a year I reckon for us. Maybe 70k to be on the safe side. If we were mortgage free I reckon we’d be closer to 40k a year.

Back in the real world, anything extra would be lovely!

Monthly.... £3000 would be perfect

If we still had all the same bills as now I’d want the same salary. So we’d need a net amount of £61k per annum. Without mortgage and debt, probably £45k would be fine.

The amount that I would need a month to life a nice lifestyle and not work would be £5k. So £60k a year after tax.

This would need to be linked to inflation

100k a year, including all bills. I want a nice house, a couple of nice hidays a year and I want to give up work.

If I quit work I'd need 80 - 100k. BUT I could live on less, I guess :(

I’m astounded at how much people need!

If I assume no mortgage, then £24k after tax would be great. £30k even better. I’m assuming I would want to work part time.

£800 per month groceries and eating out.
£200 per month council tax
£400 per month car
£600 per month other bills

I’m assuming that holidays and spending money we would fund from working part time, which would also bring some satisfaction in having earned it, without the stress of HAVING to earn it.

A regular 3k a month would be more than enough.

I could have everything I need.

No mortgage and no debts then €50000 would be loads for me.

I wouldn't work. I could live very happily with my current salary (32k) if it was tax free:

Monthly breakdown:
Mortgage and bills: £800
Food: £250
Petrol: £100
Phone: £20
Car insurance, tax, MOT and service: £80
Audible: £7.99
National Trust membership: £10
Posh Gym membership: £149
Unlimited monthly membership at Yoga studio: £75
Private dental plan: £20
Nails (I'd get them shellac'd twice a month): £45
Clothes (haven't bought anything new for a year): £50
Hair (I'd get it cut and coloured every 8 weeks): £100
Cleaner to come every 2 weeks for 2 hours: £60
General spends of £100 per week to potter about with, for lunches etc.
Plus £500 a month to save towards holidays, new car etc.

I'd fill my time with pottering around, and would quite like to retrain as a personal trainer and yoga teacher.

Don't know.
I guess around 70 -80k.

@Matilda1981

My mortgage is £80k a year so I’d defo need at least £110 - would love to have £30k a year without having to work!

80k a year fuck me

20K

I think you have to take funding adult children and future old age care needs out of the equation. In which case, I'd be very happy with £35K. I'd probably still work, but less than currently, and I'd like to feel I can stop working at any time I want.

My mortgage is £4500 a year

Wouldn’t need to save or pay in to pension so on that basis £100k would do us both

£80k a year mortgage. How many years are left on it? This is just amazing to me. Im sure your house is amazing.

About 60k-80k

£18k allows me to live with no worries. £25 is very comfortable indeed. As soon as I’m earning more than that, I know I’m working too much. I’ve lived to these principles for 3 years.

So intrigued by the £80k mortgage. We owe over £550k and I thought that was bad.

We are very comfortable on what's coming in but I'd love to have exactly that without having to work. I guess thats why I invest so much in my pension ☺️