Retirement Planning cost of living in PP help required

[Malc84]

Hi everyone I need a little bit of guidance on what I should be looking to budget for in terms of living costs in PP for our retirement (still some way off unfortunately).
There would only be my wife and I, we would look to sell one of our properties in the UK to fund a purchase for an Apartment so we won't have rent or a mortgage to worry about.
We'd be looking for a small Apatment 2 beds around 70 -85m2 and nothing too flash just comfortable. I found something the other day for around 140,000 euro in the Gotmar area just up from the Leo Apartments on Calle del Voltor.
So assuming we aren't looking to live like we are on Holiday and maybe dine out once or twice a week, would you who are already living the dream say a budget of 20,000 euro a year to cover all outgoings be sufficient in todays money terms?. Do you think this would be too much or too low?
If it's lower then great it means we can retire earlier

Many thanks in advance

 

[Sparky]

I think that would be more than enough .

 

[Malc84]

I think that would be more than enough .

I thought it may be Sparky, very early stages so doing some research to see if it's a realistic option or not. Based on your response I won't need to win the lottery to make it a reallity

Thank you

 

[lollipop]

I agree with Sparky, should be more than enough. We run a car as well on that sort of money. Obviously depends where you eat when you eat out.

 

[Malc84]

Thank you lollipop. It depends on the occassion but generally just somewhere with a great spot to people watch does us just fine.