Minimum required to retire

[cheery]

I know people in Tenerife but there lifestyle is way above ours, so my question is to others with a more modest income. What would be considered the minimum amount to retire in Tenerife for a couple in their mid-50s, away from tourist places and therefore cheaper. I am talking about a lump sum and an annual private pension.

Thanks for any positive comments.

[Moderator_]

For a reasonably comfortable lifestyle not less than €1500 per month after tax, and that does not include rent/mortgage (but does allow for utilities).....in my opinion of course., and yes I've lived here for 13 years.

[junglejim]

We have been retired and stay here for 9 months for 12 yrs and can comfortably exist on €1200 a month ,excluding rent/utilities (we have our own apt. with Community Charges)
We go out 2/3 times a week and occasional day time lunch out ,mainly cook in apt. but eat out 3/4 times a month . We stay in a tourist area.
It depends on lifestyle you want, some people will spend a lot more ,some even less !
You have a different approach to being on holiday !

[paul 1]

I'd say about the same as the same lifestye costs you in the UK. With the addition of Medical & Dental insurances.

[AndyG]

We have retired early and are living on capital until pensions can be drawn in 7 years time. We have a long term rental of a lovely 2 bed penthouse apartment in Playa San Juan which costs €750 per month including broadband. Electric and water cost on average €60 per month and we pay around €130 per month for private medical insurance between the 2 of us, including some dental insurance. We have a weekly budget for food etc of about €150 per week which is easily enough based on our preferences: we do not have a car and use buses when we need them. We always go to a cafe each day in the morning for a drink and a snack but tend to eat in most nights as we prefer that. Overall our budget including spare cash and holidays to the UK is around €2000 per month and this has proved more than sufficient in our first year here.

[sand4u]

I have a steady 350 euro pension and that's what i will exist on, in or out of Tenerife. Excluding living expenses obviously! That is enough for food & bus tickets. My diet consists of fresh fruit & vegetables and I never eat out. Hoping to supplement that income with some part time work to be able to afford a little bit more, the occasional bottle of wine or ferry tickets to La Gomera.

It's all down to what kind of a life you're used to living. Most people earn less than 1000 euros in Spain.

[LUCKY]

I have a steady 350 euro pension and that's what i will exist on, in or out of Tenerife. Excluding living expenses obviously! That is enough for food & bus tickets. My diet consists of fresh fruit & vegetables and I never eat out. Hoping to supplement that income with some part time work to be able to afford a little bit more, the occasional bottle of wine or ferry tickets to La Gomera.

It's all down to what kind of a life you're used to living. Most people earn less than 1000 euros in Spain.

https://www.salaryexpert.com/salary/area/spain/santa-cruz-de-tenerife


https://www.*************.com/news/spains-minimum-wage-for-2011-announced-2.html

J A N E T A N S C O M B E replace *****************

[LUCKY]

Also

https://www.expatistan.com/cost-of-living/santa-cruz-de-tenerife

:flatcap::feret::feret::feret: