Every week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.
This week’s question:
I’m a single woman, aged 63, living in Edinburgh, my grown-up son has left home and I have no mortgage. I want to retire as soon as I can and am trying to work out a realistic budget; my state plus private pension will give me about £13,500 a year if I retire now, but about £16,000 if I leave it to age 70. Friends say the minimum realistic spend for a decent life is £20,000 a year, which leaves me very worried.
Do you have a problem readers could solve? Email your suggestions to money@theguardian.com or write to us at Money, The Guardian, Kings Place, 90 York Way, London N1 9GU
