# Retiree income qualifications



## Seabreeze2021

Hello All,
I am planning to retire at 62 vs 67 (full retirement age in USA). What amount of income I need to present to qualify for a long term visa? I will have about $120K in savings and about $1400 monthly social security. I plan to move to a low cost area, but within a city, not countryside. Thank you!


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## Bevdeforges

Where are you looking to retire to? Each country has its own requirements regarding retirement income.


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## Seabreeze2021

I was looking at Brest, Montpellier, or Orlèans. If you have another suggestion of location, I would appreciate the advice.


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## Seabreeze2021

Bevdeforges said:


> Where are you looking to retire to? Each country has its own requirements regarding retirement income.


Brest, Montpellier, Orleans… if you can suggest something better would be great.


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## Bevdeforges

OK, have moved you over here to the French section where I think you can get more information.

We generally suggest that retirees should be receiving something around the SMIC (the French minimum wage) - which is currently about 1600€ brut (gross) or 1270€ net per month. You're close on the net amount, which is about $1450. The gross figure comes out to about $1800 a month. 

You may want to try drawing up an expected budget based on your current figures. If you're planning on renting, you'll be limited to about one-third of your monthly income for rent, with the rest coming out of what's left.


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## Keri22

your social security will increase by approximately 8% per year (in addition to the cost of living increases) if you delay taking it. I suggest you try and hold off taking your SS since you will then be in a much better position. also 120k cash may not be sufficient to buy a home. The long term visa does require an address, either rented or owned.


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## Seabreeze2021

Bevdeforges said:


> OK, have moved you over here to the French section where I think you can get more information.
> 
> We generally suggest that retirees should be receiving something around the SMIC (the French minimum wage) - which is currently about 1600€ brut (gross) or 1270€ net per month. You're close on the net amount, which is about $1450. The gross figure comes out to about $1800 a month.
> 
> You may want to try drawing up an expected budget based on your current figures. If you're planning on renting, you'll be limited to about one-third of your monthly income for rent, with the rest coming out of what's left.


Thank You!


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## Seabreeze2021

Keri22 said:


> your social security will increase by approximately 8% per year (in addition to the cost of living increases) if you delay taking it. I suggest you try and hold off taking your SS since you will then be in a much better position. also 120k cash may not be sufficient to buy a home. The long term visa does require an address, either rented or owned.


I was planning to rent. Thank you.


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## Franco-Belgian Brit

General question. Married couple, is it the combined amount of both pensions or does each person have to have the SMIC amount?


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## Bevdeforges

Franco-Belgian Brit said:


> General question. Married couple, is it the combined amount of both pensions or does each person have to have the SMIC amount?


They will consider the combined pension amounts for a couple. And as far as I know, they don't require each partner to have the SMIC amount. (There are some economies to being married, I guess. <g>)


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## Franco-Belgian Brit

Bevdeforges said:


> They will consider the combined pension amounts for a couple. And as far as I know, they don't require each partner to have the SMIC amount. (There are some economies to being married, I guess. <g>)


Thanks. It's what I thought


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