How much do you need to retire?

Public Comments

1. hy it depends on age and needs im 67 own our own business if i could sell it today for £10000 id retire tomorrow we could manage on that just nice with no problem
2. Hi, There have been studies of peoples own feelings about retirement finances. If the question is literally financial *need* then if you have little savings it is possible to live on the standard rate UK pension, taking into account that rent and rates benefits are also provided; so that would be the equivalent of around £90 per week plus the same again if you qualify for rent assistance (so, £4680 or £9360 per year). However, most people who have been earning average or higher income only feel comfortable if they retire on at least half their previous salary. The median UK earnings are around £25000 per year, so if you can retire on the average UK earnings that should cover your needs and more. Takings into account that by the time you retire you will have paid off any mortgage, you should be able to live comfortably on less than the average earnings, say £20000 to £22000 per year. With further cost cutting, I believe £16000 per year is more than adequate.
3. Depends on lifestyle one is used to. As in a working life the well off can be relatively hard up but in more comfort How many on this forum have computers,mobile phones,PlayStation's,televisions,Ipod & other non essentials yet claim they are hard up How much do you need to retire? enough to be comfortable
4. Look in the real world. Decode this lyrics " Two less lonely people" How much is needed for two old folks in time? With antiques in having two creaky legs? False teeth? Can't take much food. Crooked back? Crawling with walking stick? Big home without anyone to do house cleaning? With all the rubbish and dust lying around? Isn't it's better to go back to the wild and be free? With "Take me home country road" Living with the birds and the bees in the woods and be happy in time? When all the young ones all flew away from the coop with "Where you gone" in time. Luke 21.30-33 What do you think?