by Peter Harrison FPFS, Independent Financial Adviser.
This is a question I get asked a lot: “I’ve been at work since I left
college – now I want to live a little! Can I afford to?”
The first step in answering this question is to understand what capital
and income you may need if you stop full time work – bearing in mind that you
may need cash for a long holiday, buy a camper-van and travel the world, carry
out some home improvements, help out the children a little.
After that, you need to remember that your resources will now have to
last you for the rest of your life – and inflation will erode their value over
time.
