Okay, based on experience of watching the books carefully over the past few years, I've figured out that Mrs Q and I can survive comfortably on a disposable income of £750 a month; that's the amount left after we've paid the bills, bought the food, saved for holidays, and so on. Indeed, we probably don't need that much, but that's the figure we need to ensure there's not a problem. I've also spent a lot of time figuring out what our bills will be after we retire, what will go up, what will go down, and so on. We intend to retire at 60 on our teacher/workplace pensions, which will be supplemented by our state pensions when we hit 67. Here's the conundrum. Having crunched the figures, I've figured out that we'll have a disposable pension from age 67 to...well, to death, of almost £1,200 a month. That's far more than necessary, and the extra will be very welcome. But on the downside, between 60 & 67 we'll only have a disposable income of £350 a month. Now, this might be enough. It's on the lower side of what I think we might be able to survive on, but then again it might not be enough. Any tips? I suppose what we effectively need to do is to 'borrow' the shortfall from our post-67 selves. It's not that we're not going to have enough money, just that a lot of it will come at the wrong time. By the way, changing the pension/lump sum balance is a non-starter, as is changing the date at which we take the pensions.