There are lots of divisions in the country. There are relatively rich pensioners like Mrs E and myself who each have private pensions plus state pensions because we were lucky enough to be working when final salary pensions were the norm. But anyone aged under 60 not employed in the public sector and on average pay is really going to struggle. Half a million sounds a lot, because it is, but at current returns of 2% max that is a return of £10k p.a. State pension add another £6 -7k. I have not looked, but I suspect the annuity rates are not much better. How is a normal family going to find half a million? Someone mentioned the house. Yes, you could sell it, downsize and live in rented accommodation but you still have to pay the rent. I live in a relatively low cost part of the world but even here in West Yorkshire you would be lucky to find something decent to rent below £750 a month. As Micky is right in his assessment, one is reminded of the advert from all those years ago that said you should start saving early. Us Baby Boomers should count our lucky stars to have been born when we were. I count mine that I was born in a nursing home on Fosse Road South and grew up supporting Leicester City.