How much is enough to support your lifestyle? If you don’t know, you don’t have a financial plan.

By David Lamb CFP™ MCSI

Do you know how much is enough to support your lifestyle, without the fear of running out of money?

This is one of the most important questions financial planning will help answer.

We see many people working longer than they need to because they do not know how much is enough.

I don’t think working past retirement age is a bad thing (and research suggests it is a good thing) but many people continue to work when they don’t want to, thinking they have to get as much money as possible before retiring.

But when can they stop doing the things they don’t want to do and start doing the things they do want to do?

Have you ever seen a gravestone with the epitaph ‘He wished he’d spent more time at work?’ No, me neither.

Knowing how much is enough will help you answer the most common planning questions, such as:

  • When you can retire
  • How much you need in pensions to retire comfortably
  • How much you need to save
  • Whether you need to downsize your home for financial reasons and not just an easier life (less housework!)
  • How much risk you need to take with your investments
  • How much extra you can spend in retirement
  • How much money you can gift to your family
  • Whether luxuries are affordable.

By analysing your assets, liabilities, income, expenditure and understanding your desired lifestyle – and by doing financial planning based around a cashflow model – it is possible to calculate the answer to the essential question.

If you do not know how much is enough, you do not have a financial plan.

We have a limited number of books called ‘Enough? How much money do you need for the rest of your life?’ by international lifestyle financial planning guru Paul Armson. If you would like a free copy (on a first come, first served basis) please contact us at

You can build your own cash flow model, for free, at

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