Mark and Julie had it all worked out. Both 62, mortgage gone, about $500,000 saved, and a plan to keep working until 65. Three more years of decent pay, three more years of putting money away, and then NZ Super would kick in and they’d be away.

Then Mark’s employer restructured. His role went, and at 62 the phone wasn’t exactly ringing. Around the same time Julie’s mum started needing more help, so Julie cut back her hours and then stopped altogether. Nobody made a bad decision here. Life just happened.

On paper they still had $500,000. It felt like plenty. So what did those three years actually cost them? …..