Thinking of retiring early - what's comfortable to live on ?

Hello Gervan,
Many thanks for taking the time to detail your outgoings. It is interesting to see how good housekeeping and records show the picture.
Regards Browtal
 
My advice, is to try your retirement budget today.

Spending is a personal thing. Some people like to live in ice boxes some like to live in saunas, some need gadgets, some need new cars etc.,

You need to get a good way to get a handle on your current spending, and estimate based on that.

I would also advise enjoying your life sooner rather than later.
 

This looks like a good bench mark - all seem reasonable to me and i think we would be similar ( 2A plus 1 teen) except for some differences
school fees+4k and
food 800 pm so 9.6k =plus 4.8k and
eating out 1 k so
so would be 34k living well which is about right i think for us
 
I must say that I could shave 20% off the €20k above figure. In fact I am doing just that. However I live in an area that is close to everything so my travel costs are much less. (Based on 2 people). Food and groceries are just less than €3k. Heat and insurance about €2k.
 
I retired last year and budgeted 40k after tax as a generous living allowance. That's to run one and a half households (although no dependants). Don't think I'll be able to spend that much though. Many things are coming in under estimate.
 
As I started this thread do keep us informed dub nerd and any others who care to. Thanks.
 
By 63 I hope to have savings of €200k and pension pots of minimum €200k each factoring in an annual say 3% return. Education and car costs are having and will have a more detrimental effect on my savings plans than I thought.
 
I should add that my personal circumstances have changed at work through choice so that too has had an effect on my original savings plans. You could say it's a lifestyle choice that allows me more time away from the office and ties in with my original plans to spend more time away from the office.
 
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