Semantics really. Most people will be able to afford to stop work, and go live in a box under a bridge or something. Most people won’t be able to afford to have annual overseas holidays in their retirement. Most people will be somewhere in between.

If I completely stopped work at 65 I might be able to afford to live out my days in a modest home and go on caravan holidays. I think most people my age in my country are in that category.

This will be much more difficult for our children because buying a home will probably be out of reach in 20 years when they’re ready to do so. Retirement math would be pretty dreary if you have to pay rent.