Not exactly rocking it in retirement

WHAT happens if you always had a stable income for 30 years and in a blink of an eye, you have reached the mandatory retirement age? Your company does not offer an option for contract extension and you are no longer employable by virtue of your age.

Without a monthly salary, would you continue your previous lifestyle? A good example would be annual family holidays or even discretionary spending like buying a favourite watch or handbag.