I was wondering what Wendigonians thought about the prospect of living on 22.8k per year (inflation adjusted) for life.

Asking for a friend who may have impending investment and workplace issues

It's more than I've ever earned in a year.

This is without owning a house btw, the rent has to come out of it.

It all depends on how high the rent is.

As long as you're not living anywhere too pricey, it should be possible. Plenty of full-time jobs pay in that range.

Sounds a beezer idea to me.

That figure would also include my friend's work pension and state pension if/when she gets them.

So she wouldn't get anything extra at 55 or 67.

I think you need to sit down and work out how much you need to pay for your bare essentials in life and see how it compares to the £22,800 income.

The Call of the Wendigo wrote:

I think you need to sit down and work out how much your friend needs to pay for their bare essentials in life and see how it compares to the £22,800 income.

Fixed.

Oh. Yes.

I would live like a prince after all overriding costs were taken into consideration.

Couldn't live on that now but when I retire, (1,2 or 3yrs away), if I get that amount I should be fine, energy is the big problem, currently pay about £5500 per year for Gas and Electricity.

The Call of the Wendigo wrote:

I think you need to sit down and work out how much you need to pay for your bare essentials in life and see how it compares to the £22,800 income.

That's what I said to my friend. I said, 'Work it out my way with a big spreadsheet of likely monthly income and expenditure till you theoretically die aged 110.'

But she said 'No, that's depressing, your spreadsheet always either says you'll run out of money in 2035, or that you need 7.5% real returns on investment, or that you have to cut expenditure by 34% when you're 55. I want to do it this way where I work out my possible evenly distributed income and then fit my costs to it.'

So I said, 'Well, I'm going to run that past my friends on the NHOTW, and they'll soon put you right.'

And she was like

My friend's income prospects have improved, to £24,900.

I could live on that.

I do live on that.

In fact, I live on less than that.

A good start to the New Year for my friend, then.