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How to calculate lump sum required to generate desired monthly income?
The product you seek is called a fixed immediate annuity.  You also want to be clear it's inflation adjusted. In the US, the standard fixed annuity for a 40year old male (this is the lowest age I find on the site I use) has a 4.6% return. $6000/ yr means one would pay about $130,000 for this. The cost to include the inflation adder is about 50%, from what I recall. So close to $200,000.  This is an insurance product, by the way, and you need to contact a local provider to get a better quote.