We see a lot of interesting expat-related stuff – and some not so interesting – all over the Internet. Rarely do we say, “Hey, this is great.”
But, hey, this is great.
Witt International, the Bradford, United Kingdom-based online catalogue fashion brand for (you guessed it) older people with disposable incomes, has a great post on its blog, “How long would 1 million pounds last you in top European expat hotspots?”
And the answers are super-interesting, though not all that surprising.
From the Witt International blog:
When we imagine our retirement many of us picture sun, sea and days spent lounging around in our swimwear. But how much does that dream lifestyle really cost?
Experts suggest a retiring couple would need a £1 million to live comfortably – and that’s assuming you’ve paid off your mortgage and any debts accumulated over the years on top.
We put that retirement fund to the test, by comparing a basic cost of living to a luxury lifestyle in the top 15 expat destinations in Europe, to find out where your money will last the longest.
Assuming you purchase a 90-meters-square apartment just outside the city centre at the start of your retirement, the infographic on the blog shows you how much you’d have left to live on. And there’s both an estimate based on a frugal lifestyle model, and a luxury lifestyle model. (We can dream …)
Poland is the clear winner, with your virtual million pounds lasting you for 64 years based on the living modestly and leaving a big inheritance model, and 42 years if you go for broke.
If you choose to go to Denmark, that million will be gone in 25 years if don’t go crazy, and only 17 years if you live the high life.
If nothing else, the infographic shows the sharp divide in cost-of-living between the highly industrialized economies such as Germany (29 years/20 years) and Scandinavia (Sweden 30 years/20 years) and the Tier 2 economies such as Portugal and Greece, where 1 million sterling would last you for 48 years if you cool it, and 32 years if you live like there’s no tomorrow. Which is how we roll.
Be sure to check out the infographic on the Witt International blog because some graphics team really worked hard on it and it shows.
Countries highlighted are based on UN 2015 overseas citizens data for the number of Brits abroad in the EU. This research only looks at European countries and therefore Cyprus has been omitted from this list because while it’s an EU member state, it is not a European country. Cost of Living data and property prices were acquired using the Expatistan Cost of Living index in Europe.
About Witt International:
Witt International was founded about 100 years ago in Bavaria. It’s part of The Otto Group GmbH, a Hamburg-based conglomerate that owns several consumer brands including Crate & Barrel.