spend all your savings

[VectraMan]

I spent all mine on the divorce.

hers.

I've been spending all mine on luxuries like food and rent, and I still have more saved than owed.

I can't wait to get back into overall debt and start gaining from the low interest rates and worthless currency.

[contractor79]

Why not? If your savings will never be able to fund an early retirement then what are you saving for exactly?

I have come to the conclusion that I will have to work in some form until I die - and I don't have any debts!

Carry a meagre year's warchest fund and blow the rest I think. The only rule is to not take on debt, as no savings and a load of debt (i.e. normal UK mindset which is a recipe for...what we have now).

No one ever wished that they had saved more.

learn to use credit cards, as I am currently doing
buy stuff on 0% then transfer balance to other cards which have 0%
just keep moving the debt balance around

[contractor79]

Why not? If your savings will never be able to fund an early retirement then what are you saving for exactly?

I have come to the conclusion that I will have to work in some form until I die - and I don't have any debts!

Carry a meagre year's warchest fund and blow the rest I think. The only rule is to not take on debt, as no savings and a load of debt (i.e. normal UK mindset which is a recipe for...what we have now).

No one ever wished that they had saved more.

I would say also put all your cash into your home. When you lose your job you can claim benefits if you have less than £16k savings. It doesn't matter if you own your home outright with no mortgage.

[GreenerGrass]

Using the pension credit calculator on here and Even without the outstanding £100k mortgage, the government would give you £198.45 pw (needs a £205k pot)

But much/most of that £198.45 amount for most people would be covered by state pension, which isn't means tested.
The pension credit "top up" part of that amount would be much less, and would need a much smaller personal pension pot to beat. Not sure whether it would be £50k or more like 75k, depending on personal circumstances.
Plus you wouldn't get the state benefits until age 65/67/68 compared to 55 for a personal pension (bit optimistic there ).
But I agree with the general sentiment, a lot of people with 5 figure pension pots will be worse off than if they hadn't bothered at all. Not really "fair" is it.