The more welfare you have, the better of an idea this is. An aging country especially cannot afford to risk more wards of the state.

> and have enough money banked to live off of for 30 years

It's a confusing guideline but this isn't accurate. You need to show an expected future pension (could be savings) equivalent to a salaried worker who paid into an employee's pension for 30 years. That's strict, but there will probably be a bunch of ways to show that.