Striking the right pension balance

Remember to factor in inflation but don't forgo fun

- WARREN SHUTE

How much is enough?

This week will mark the 100th birthday of my father Howard and this got me thinking - Dad retired around age 65, which means he's had a 35-year retirement so far.

This may sound wonderful to some, but it worries the life out of me because what are the financial implications of such a long retirement?

The average life expectancy in the UK is around 82 years, so living an additional 18 years can have a big impact on your finances.

Inflation is your biggest risk in retirement, and far too many people become too cautious as they enter their retirement years.

Over a typical 17-year retirement inflation can erode your spending power and leave you searching for more money, never mind in a retirement double this length.