Like Fleabag, we all want to be told how to live – but money rules don’t always work

Upon inspection, the “save half your age” rule fails to deliver – and it is not alone. Last week we reported that the “4pc rule”, which says you can safely withdraw 4pc of your pension a year, could shrink a portfolio too quickly in falling markets when shares are worth less.

Your Retirement Salary, a new book by two former editors of these pages, suggests 1pc on top of dividends is a more appropriate rule of thumb.