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 sort of discovered this, almost, a couple of years ago - an income of about £30 a year. (though that is at current living costs).

20k would suit me fine.

Id love to know what sort of home requires an 80k a year mortgage and how much you earn to cope with that!

200k so I could afford another horse, have a nice house and not have to work

3k pcm. So 36k.

@Wafflesnsniffles

20k would suit me fine. Id love to know what sort of home requires an 80k a year mortgage and how much you earn to cope with that!

I know, right? That mortgage is around quadruple our annual household income!

Maybe they won a scratchcard that pays £100k for ten years, so they've squeezed the length of their mortgage on their new house down to ten years to get it paid!

I get 85k net at the moment for that but it stops when I'm 60

Without any greed involved and not wanting money to put away for my GC, £30k would do me. I'm mortgage free though.

£100k after tax. I could fund both DC through uni at the same time without working!

280k if living comfortably meant maintaining current lifestyle without working. This would cover mortgage on a 4 bed house in a nice part of town, private school for 2 kids, one holiday abroad a year, a couple of long weekends in the country, one car, not really warching what we spent on food and entertainment, good but non-designer clothes and a reasonable amount for semi-expensive hobbies.

Would really like another 100k so we could go business class when we fly, go abroad twice and have a second home for weekends.

For me, £12k - no mortgage, but that would cover our bills and day to day, I would want to work anyway for my mental health so that would go towards holidays, savings and luxuries, but knowing the basics were covered would be a huge relief.

Tax free I would say 100k. Its around where my dividend payment is, after tax. I use that for bills and living expenses then the rest goes in savings. My wage is mainly saved. I would give up work as can live comfortably without my wage.

I still live in the house I bought as a single parent on 25k. My mortgage is £3800.00 a year. I have been thinking of moving, my mortgage going up to 8k makes me wince. Genuinely could not face 80k a year mortgage.

Well to cover mortgage, childcare, council tax, £500 a month of gas/elec/water/internet/phone/tv, £500 a month supermarket shop, £600 a month commute costs for DH and I, £500 a month to buy & run a basic car... we'd need £78,000.

I think we would need at least £1000 a month spending money to cover clothes & uniform, kids swimming lessons, meals out etc, but I suspect savings for holidays and bigger things like home decor/boiler repairs would be tight out of that, so £2k a month would be a more comfortable amount.

So probably £100k.

In my old job we used to always try to figure this out in terms of the lotto, but nobody could settle on the figure and I don't think we ever settled on an answer!! It's easy to say a little bit more than you earn now, but realistically if that happened for the average person they'd start paying/doing the things they hadn't been able to afford and their cost of living would go up eg if you hadn't health insurance or home insurance or eg a car you'd do that and that would give you an added monthly expenditure

Our income is around 40k a year after tax. We have one child and one on the way. Although that seems miniscule compared to some on here (seriously, what do some of you do for work??), we live pretty comfortably on it.

Around 2500 per month for my family if 4, that covers everything and leaves room for about 500 savings per month.

Assuming I carry on earning and with my lifestyle pretty much as it is, £5k tax free every year would make life much easier.

I have no mortgage however I do have an absolute clapped-out shell of a home that needs complete renovation, so £40k a year until that's done. And £30k a year thereafter to keep me in the style wot I deserve to be accustomed to.

15k without mortgage

This thread has been fab, I'm reading through all the replies now and it's so eye opening! Thanks to everyone who took the time to reply, it's fascinating to see how everyone lives and what different people consider comfortable. There's a lot of food for thought here x