Wojciech

Diploma for Financial Advisers
Diploma in Accounting
Member of London Institute of Banking and Finance

To live comfortably, you should aim for about 60−70% of your current income in retirement. This means if you earn £30,000 a year now, you would need around £18,000-£21,000 a year when you retire. The reason it’s lower is because, in retirement, some costs (like commuting or mortgage payments) may no longer be an issue.

‌To get a clearer idea simply look at your monthly expenses. Ask yourself: what do you spend on housing, food, hobbies, and other essentials? A comfortable retirement usually means being able to cover these costs, plus having some extra money for holidays, eating out, and enjoying life.