Question
I’m 52, single, got around £480,000 not got a property in Spain, UK passport! Realistically have I enough money to live out my days in Spain, potentially under a Spain Non Lucrative Visa?
Answers
Make sure to join our dedicated Spanish Non Lucrative Visa group here!
“Come to Tenerife. You could do it on half that.”
“Don’t need to deal with them thanks, and they have been most professional in my previous dealings thanks. Hope you feel better after a sleep!”
“If you choose wisely it’s easily achievable.”
“I’m 52 single and also about £480.000. House going up for sale soon. I’ll probably be looking in the Murcia region.”
“At 56 I’ve just done the same. House bought in Alicante region and will be moving permanently next year. Seems a lot of us fifty somethings are doing the same!”
“Yes. I’ve had enough of the UK.”
“Make sure you get a survey when you buy.”
“Location location location. If you live in an expensive area and eat out every day and buy a 300m house then maybe not. But rent an apartment for 500 or 600 euro or house. Then 5 percent interest on 400k of your savings is 20k a year which is enough to live on no problem after rent or mortgage. Based on two people.”
“480k???!!! There will be folk carrying you about in one of those chair things! Seriously!! Have you got the decimal point in the right place?”
“Depends on your expenses. Look up the Trinity study- basically says as long as you are primarily invested in stocks, you can withdraw about 4% of your total per year and never run out of money.”
“I would say it will be possible if you buy a property outright. You cannot control the rent for 30 years. Say that left you £350k at 4% is £14k a year. Spanish will take 20% in tax after first €5500 so minus around €1600 in tax. You’re looking at about £1k a month to live on the interest leaving the rest of your savings alone.”
“Not quite. Inflation means you don’t keep the value of your money forever.”
“Not the financial advice but i would place them in high yield savings account (in US it is 4.7% currently, fully insured up to $250k per account) so it can generate you some cash flows (battling the inflation). Or if i were to take risks I would place them in ETFs (mutual funds of stocks) that can generate dividends + growth. Investing is always risky and this is not the financial advice”
“Which bank in the US gives a 4.7% yield in savings account?” – “Merill Edge, JP Morgan, Robinhood etc. Its not exactly the savings account, it’s called money market accounts that are guaranteed up to $250k by FDIC.”
“We currently have a Discover savings with 4.8% got it last year.”
“Look up high yield savings….Marcus, discover bank….there a lot over 5%. 5.12 to 5.25 right now and fdic insured to $250k.”
“I wouldn’t put one dime in the US stock exchange..”
“Over 50 years of track record of %11.5 returns and the best most innovative companies in the world, what is your argument against that?”
“I’m getting 5% in my Ameriprise money market”
“Just depends on how many months or years you rent as that money is gone.”
“The USA stock market leads to great gains. What is your specific issue with it?”
“I dunno. I wouldn’t think so. Figure 30 years. Cheap apartment for 5-800€ increasing 10% per annum. At least. Health insurance for a single 50 year old will be like… €500 if you’re healthy. After 5 or 10 years you can get on nhs. I’ve figured about €2500/month if I was to be alone and living very cheaply. But also, you have to have that 400% iprem available too… as of now anyway.”
“2500 for 1!!! 2 of us managed on under 1000 per month before I got my pension this year. Admittedly our house is paid for but that’s still a very healthy budget for one person. The OP could buy a house or apartment outright and still have enough to live on for life.”
“Managed. Yea. I saw an article about a pensioner couple living in an outhouse in nowhere Spain. I’m not figuring that’s really living… But who knows. 180000 people live on the streets of la and San Diego.”
“Buy a property and invest wisely and you can have a good life in Spain with that amount of money. Good luck”
“You are half a.millionare you’ve got plenty you can buy a lovely 2 bedroom apartment in torrevieja for 70 thousand euros eating out is cheap if you drink its also cheap the vino is excellent loads do do lovely beaches buy a car if you drive loads garages about loads lovely places a hrs drive away enjoy first drinks on you”
“Il be risking it with less than that!”
“Off of 480k, a financial advisor like myself could generate 10%. If you can live comfortably with 48k/year (before taxes) then that would be a possibility. If you’re healthy and living another 30 years with no other income then inflation (including rising rents) is going to be your biggest problem.”
“Yes and no. Do you have income. How long are you planning on living? 😜”
“Don’t forget you’ll have a pension to count on to, maybe use some of your cash to top up your National Insurance each year to maximise your eventual pension”
“Yes, buy a place outright then invest the rest and live comfort on the interest. Depending on where you want to live, you can get a townhouse in an inland village or town from 30k euros.”
“Buy a property and get on Vrbo or air b&b and rent out rooms to tourists. In the right area this will sustain your income. No better investment than in bricks and mortar!”
“Should be if your nearing pension age”
“Depends on your lifestyle”
“You can Start real estate business with this money”
“I will choose an area that i can buy property for less than 100k that way you forget about rent and how much is going to increase in the future. The rest of the money i will put in dividends ETFs or to be honest just buy collection of Spanish stocks that pay dividends and if you average %5 on 400k that’s 16k a year and you have no rent, i would live nicely on 16k with no rent.”
“Depends on what part of Spain you intended to move to. If you are wanting to move to Ibiza or Majorca then no 500k isn’t enough..you can’t even buy a bed sit for 500k.”
“I’m sure with half a million anonymous will have many advisors to ask..”
“It’s not a lot. Depending on how long you live”
“Go to numbeo.com and you can get a general feel for cost of living comparisons by geographic area Cost of Living”
Conclusion:
Responses in the Facebook group varied widely, with some participants suggesting that £480,000 could be more than enough to live comfortably in Spain, while others cautioned about the high cost of living in certain areas or the potential for inflation to erode savings.
Many offered practical advice on property purchase, investment, and living expenses, highlighting the importance of careful financial planning and location choice.
Join our community!
Make sure to join our dedicated Spanish Non Lucrative Visa group here!
