Originally Posted by claire
gosh i didnt realise the minimum wage over there was so little, for some reason i thought it was around 15 dollars an hour, not sure why.
that means your mininum wage works out at around £3.00 GBP, the mininum wage in the UK varies according to age but its about £5.50. But I suppose the cost of living is cheaper in the USA.
I have heard from people who have experienced it that living in London is about equivalent. If it costs a dollar in the US then it costs a pound in London. There are exceptions of course. In either place, it is inadequate to have a decent living.
But to supplement a retirement that was taken rationally, it can serve its purpose in the face of unexpected inflation.