Our Life Plan has researched and revealed exactly how many years you need to work for to retire with £1million while still enjoying a meal out every week and treating yourself to a holiday once a year. The research reveals how many years you need to save your disposable income from hitting £1million in savings.
If you live in Bern, you need to work for just under 30 years to save £1million. People working in the Swiss capital enjoy an average wage of £49,764.3,6, meaning they can save £33,355.20 every year after paying for everyday expenses,s including clothes, a restaurant meal a week, and sports membership.
London comes in fifth place, with just over 40 years of work needed to save £1million. The average wage of individuals living in London is the fifth highest of all the countries researched, at £37,780.92, making it easier for Londoners to save their money post expenses.
These are the best 10 cities to live in to save £1million the quickest:
|Position||City||Country||Average retirement age||Average life expectancy||Average retirement length||Average yearly cost of living (£)||Amount needed to retire (£)||Years needed to save to make £1million|