Comfortably Retire With UK Property
How much do I need to comfortably retire calculator is a great way to work out how many UK properties you will need to retire in the UK.
Video Transcription:
Comfortably retire calculator is up in our website www.gladfish.com/howmanyhouses and if you go there I’ve got this new comfortably retire calculator you can also go to tools in the navigation and then it’s got how many houses.
I’ve already put in there okay the average income so this is £15,080 is the average retirement income for someone now. Which is pretty extraordinary. That’s what most people survive on the average person survives on in retirement. That’s £1,250 per month. £868 is the average rent in the UK, so basically if you took that you know that income that rent and 35% costs take off that rent and assume that you haven’t got any mortgages by the time you retire you’ve paid all your finance off. Well you’re going to need 2.22 houses in order to fund that.
When I talk about the three plus one plan, actually you know that’s not so bad. My new comfortably retire calculator I think is you know it’s really interesting if you do that. Now you can go on there and you can put in whatever figure you want. For instance if we go over here I put in £45,000 you know which is £3,750 and the average rent I’ve lifted up a bit which is £1,200 okay 35% costs 4.8 properties.
If you from now yeah said right my target is to get five properties by the time I retire all paid off. The way we do it is we actually build that portfolio up over time, fully managed all that sort of stuff done for you. We might build ten houses with mortgages and then when it comes to retire if you want most people don’t most people keep the finance or as long as they can and let inflation pay it off we then pay off half and then that half pays off the other half you’ve got five properties. And that is your retirement fund looked after.
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