Where in Europe can you retire on 200k? I mean, without going 'buy 15k plot of land in backwater Romania, live there in a wooden shack for the rest of your life'?
Maybe if you live alone in your own house at some small village and let goverment pay for your social security, medical and give you some additional pocket money (you get that in most EU countries). But still, forget travelling, splurging on new appliances and such.
The government will not pay anything for you if you have a considerable chunk of savings you can pay for yourself from. You are only really considered poor if you have no savings.
It depends on how you declare your savings, even if you declare your income out of invetment of 300k it might be less than poverty line and you might be able to claim some monetary help from govt. Anyway, even if you didn’t get those, your medical and social insurance should be paid by govt.
For the rest of your life? And where would you stay the rest of the year? All of these things are fine when you're a student, but they're hardly realistic retirement plans.
So one “hack” is as follows: you live like a student in your 20s, then you put that savings into... well, rental properties (my preference) or the default low fee index fund recommendation. Then you just... peace out. Live like a bum and do work exchanges and volunteer things.
I’m only going to bum it for one year, as I still have some ambition left in my spirit, but people can do it indefinitely, and just go part time if they decide to work again.
Oh please. https://www.expatistan.com/cost-of-living/vienna - it's just as expensive as other European capitals, <10k/y is barely above poverty level - not to mention with kids. Please define 'comfortable' - because to most people, that includes living in a good area in a city or a detached house outside of that, not having to thrift shop for clothes and not having to grow your own food unless you like to. And most likely a car too, even if it's only an old and small one. And not having to worry about whether you have money to get a new washing machine when yours breaks. No way that's possible on e833 a month (assuming e here - $ is even more ridiculous).
You can live like student for 20k/year in Prague, sharing room with other person and dont go out much. Doable, sure but maybe not a great plan for next 40 years.
