Is it possible to retire age 65, with no property, on 120k cash? Where in UK?

[PleaseAdvise17648]

Just that, really. Thanks.

Of course it is. Some parts of Wales have very cheap housing. It's cheap partly because employment opportunities near by are very limited, but that wouldn't be an issue for a retired person .

Really? That sounds promising. Nice enough areas or down and out areas? Thanks. Asking for a relative as I'm not financially savvy enough to advise them.

Just placemarking, sorry

You can but bear in mind your requirements at 65 may be different. Access to a hospital, access to walkable shops when you can no longer drive etc.

A lot of very cheap places are really rural and can be unsuitable for the elderly.

I think that I would look at things like social services and elder care - these can be a postcode lottery so choose the right postcode!

Small bump

So you need to buy a property and live on left over cash? Or use the income generated by £120k to pay rent and expenses? I'm not sure that would last long!

Hold on - £120k cash... assuming you could live on £1k per month that only lasts 10 years.

Actually I must be missing something.

Are we assuming that housing is paid for? So you. Need to buy food? What about utilities?

Are they entitled to any state and private pensions?
Do they have any family/ friends who would provide assistance in future if they lived close enough?
they should choose somewhere suitable for their old age as moving is expensive, particularly if they buy a house. So ideally one floor, adaptable, can walk to shop, good public transport or everything close enough to walk

£6K a year for 20 years? That's pretty tough. And what happens if you live longer?
To keep rent under perhaps 50% of your outgoings (ideally less) while still being in a city, maybe for example Lincoln?

Might be best to try to buy somewhere for under £60000 with two bedrooms and rent out the other room? I'm really guessing where that might be possible - a few probes on rightmove and there do seem to be some, I saw some in Crewe - Leek - Grimsby - but I don't know what the areas would be like and whether you'd be able to rent a room easily without making yourself vulnerable. You'd still have to live a very, very frugal life but I think it would be possible.