Guest pelmetman Posted December 7, 2013 Share Posted December 7, 2013 Being an old fart now appears to be a blessing :D..............considering those in their 40's can expect to work until 68...........and their kids 77 8-)............. Saga louts rock >:-)............... Link to comment Share on other sites More sharing options...
Tracker Posted December 7, 2013 Share Posted December 7, 2013 Nobody has to work till they are 69 or 77. It is up to each individual to make provision for their own older age and all that will change is the age at which a state funded pension will be awarded. With many occupational pensions there is already the opportunity to retire early and take what is known - or used to be known if it has changed - as the 'state spreading option'. What this does is give you more pension for the years leading up to state pension age at which point your occupational pension reduces by the amount of state pension given. This works well and indeed worked well for me from age 60 so all I had to do was A, contribute to a decent pension from around age 30 onwards, and B, fund my own income for the years that I wanted to be semi retired under the age of 60. Simples! Nobody plans to fail but many fail to plan! Link to comment Share on other sites More sharing options...
Will86 Posted December 7, 2013 Share Posted December 7, 2013 Why lucky. What's the big deal about WORK, I continued fully until around to the age of 78, I still do some now and love it. I'm going back into the workshop now as soon as I have warmed up again from this morning's spell. Work should be pleasure not a drudge, look at it as an occupation, change until you find the right one, become self employed, find something that others have to buy from you. Its great and I hope to continue for many years yet. Link to comment Share on other sites More sharing options...
Guest pelmetman Posted December 7, 2013 Share Posted December 7, 2013 Tracker - 2013-12-07 1:35 PM Nobody has to work till they are 69 or 77. It is up to each individual to make provision for their own older age and all that will change is the age at which a state funded pension will be awarded. With many occupational pensions there is already the opportunity to retire early and take what is known - or used to be known if it has changed - as the 'state spreading option'. What this does is give you more pension for the years leading up to state pension age at which point your occupational pension reduces by the amount of state pension given. This works well and indeed worked well for me from age 60 so all I had to do was A, contribute to a decent pension from around age 30 onwards, and B, fund my own income for the years that I wanted to be semi retired under the age of 60. Simples! Nobody plans to fail but many fail to plan! Perhaps I should of also said Rich............those over 65 are the "Even luckier ones" ;-)..........for them their endowments matured as promised.........and their annuity rates have not been decimated by QE *-)....... But perhaps I shouldn't complain as still managed to semi retire at 46 :D.......... Link to comment Share on other sites More sharing options...
Guest pelmetman Posted December 7, 2013 Share Posted December 7, 2013 Will85 - 2013-12-07 2:17 PM Why lucky. What's the big deal about WORK, I continued fully until around to the age of 78, I still do some now and love it. I'm going back into the workshop now as soon as I have warmed up again from this morning's spell. Work should be pleasure not a drudge, look at it as an occupation, change until you find the right one, become self employed, find something that others have to buy from you. Its great and I hope to continue for many years yet. Fair comment Will ;-)............. Indeed self employment is my natural element...........even so I still find work is getting in the way of my idleness :-S But I fear many are now destined to clock watching until aged 77 8-) Link to comment Share on other sites More sharing options...
Tracker Posted December 7, 2013 Share Posted December 7, 2013 pelmetman - 2013-12-07 2:36 PM Perhaps I should of also said Rich............those over 65 are the "Even luckier ones" ;-)..........for them their endowments matured as promised.........and their annuity rates have not been decimated by QE *-)....... But perhaps I shouldn't complain as still managed to retire at 46 :D.......... Absolutely right Dave - we are indeed the fortunate generation where everything worked in our favour. Nevertheless, I don't know about yourself, but it wouldn't have worked nearly so well in my case if we had not made provision for ourselves? 46 is good going - I had to work almost full time to age 50 and part time self employed on a reducing timescale for another 5 whole years, eventually packing it all in for the wandering lifestyle at the ripe old age of 62. Nobody said it would be easy - but it was not too hard either! Link to comment Share on other sites More sharing options...
pepe63xnotuse Posted December 7, 2013 Share Posted December 7, 2013 It would be interesting to see how some of the "wise old sages" on this forum...the ones who have been fortunate enough to have lived through a period of full(ish) employment, free university education if desired and cheap(ish) housing and who are now in receipt of age related "state benefits" etc ), would fare if they were to living through it all now.....? Do they honestly think, that with current employment culture of hire'n'fire, relocating to cheaper economies and "zero hours contacts" etc, that they would be in the position(s) they are now....? I think a bit less "..I'm alright jack!.." and more "..there but for the grace of God, go I !..", is in order... (especially from those who have kids...Who knows what life is going to throw at them...) Link to comment Share on other sites More sharing options...
Guest pelmetman Posted December 7, 2013 Share Posted December 7, 2013 Tracker - 2013-12-07 2:46 PM pelmetman - 2013-12-07 2:36 PM Perhaps I should of also said Rich............those over 65 are the "Even luckier ones" ;-)..........for them their endowments matured as promised.........and their annuity rates have not been decimated by QE *-)....... But perhaps I shouldn't complain as still managed to retire at 46 :D.......... Absolutely right Dave - we are indeed the fortunate generation where everything worked in our favour. Nevertheless, I don't know about yourself, but it wouldn't have worked nearly so well in my case if we had not made provision for ourselves? 46 is good going - I had to work almost full time to age 50 and part time self employed on a reducing timescale for another 5 whole years, eventually packing it all in for the wandering lifestyle at the ripe old age of 62. Nobody said it would be easy - but it was not too hard either! I mean't semi retired at 46............unfortunately my plan to retire by 55 is looking dodgy as our house sale has gone t*ts up *-).................. Link to comment Share on other sites More sharing options...
Guest pelmetman Posted December 7, 2013 Share Posted December 7, 2013 pepe63 - 2013-12-07 2:49 PM It would be interesting to see how some of the "wise old sages" on this forum...the ones who have been fortunate enough to have lived through a period of full(ish) employment, free university education if desired and cheap(ish) housing and who are now in receipt of age related "state benefits" etc ), would fare if they were to living through it all now.....? Do they honestly think, that with current employment culture of hire'n'fire, relocating to cheaper economies and "zero hours contacts" etc, that they would be in the position(s) they are now....? I think a bit less "..I'm alright jack!.." and more "..there but for the grace of God, go I !..", is in order... (especially from those who have kids...Who knows what life is going to throw at them...) Absolutely correct Pepe..............which is why I titled this thread ;-) "Over 50?.......your the lucky ones...." I'm well aware that even though our endowments and annuities turned out to be crap *-).........and I survived school without getting an education :D..............I still consider I'm lucky not to be one of today's kids being brainwashed into leaving education with £1000's of debt 8-).............after receiving, by all accounts a second rate education *-)............Progress eh? :-S Link to comment Share on other sites More sharing options...
Tracker Posted December 7, 2013 Share Posted December 7, 2013 Whatever the UK economy or the rest of world does there will always be winners and losers. It is rumoured that an expensive education helps - I wouldn't know I didn't get one either. Many of those who do not succeed will always find someone, or everyone, else to blame. Those who do succeed will always feel content. There is not always a reason for success, good fortune plays it's part, as does commitment. There is not always a reason for failure, bad luck plays it's part, as does lack of commitment. I am the first to accept that circumstances were kind to me and yet those same circumstances were just as kind to so many others of my generation who still managed to make the system not work for them. And so it will be for future generations but they do at least have the advantage of knowing now what they need to do whereas many of my generation never did to find out what they needed to do to be comfortable in retirement until it was too late to do much about it. Whether the younger generations choose to heed the warnings and plan accordingly remains to be seen. I started with nothing and I still have most of it left. Everyone should spend a year working for a bank, a year working for an estate agent, a year working for an insurance company and a year working for a financial adviser before the age of 30. That way they get paid for an insight into aspects of how the world really works and what they might need to do to make it work for them before anything else. Link to comment Share on other sites More sharing options...
Guest pelmetman Posted December 7, 2013 Share Posted December 7, 2013 Tracker - 2013-12-07 3:28 PM From school everyone should spend a year working for a bank, a year working for an estate agent, a year working for an insurance company and a year working for a financial adviser. That way they get paid for an insight into aspects of how the world really works and what they might need to do to make it work for them before anything else. Good idea Rich.......... after leaving school at 18 kids finally get a reality check :D.........a bit late though :-S Link to comment Share on other sites More sharing options...
Will86 Posted December 7, 2013 Share Posted December 7, 2013 I say its the younger ones who are the luckiest ... they have most things on tap ... good medication ... good quality clothing ...good food ... what else is required ? Retirement makes many people more miserable so why bother. Link to comment Share on other sites More sharing options...
Tracker Posted December 7, 2013 Share Posted December 7, 2013 Will85 - 2013-12-07 4:30 PM I say its the younger ones who are the luckiest ... they have most things on tap ... good medication ... good quality clothing ...good food ... what else is required ? . Not a lot. But how a bout some of these? Common sense. Ambition. Self discipline. Knowing ones responsibilities as well as ones rights. Removal of chips from shoulders. Understanding that there is no such thing as a free lunch. Not pretending to be a victim of circumstances. That should do for a start! Link to comment Share on other sites More sharing options...
Guest pelmetman Posted December 7, 2013 Share Posted December 7, 2013 Will85 - 2013-12-07 4:30 PM I say its the younger ones who are the luckiest ... they have most things on tap ... good medication ... good quality clothing ...good food ... what else is required ? Retirement makes many people more miserable so why bother. London Life Satisfaction, London Miserable, Londoners, UK NEWS, The streets may be paved with gold, at least according to Dick Whittington, but moving to London will make you miserable. That's according to the latest bulletin from David Cameron's happiness survey, which found people living in the capital had on average the lowest ratings for life satisfaction, and the highest anxiety levels of anywhere in the UK. The Office for National Statistics study showed that people's personal well-being had increased in the past year, with those living in remote Scottish islands Orkney, Shetland and Eilean Siar happiest of all. But Londoners were at the other end of the scale. On the plus side, they earn the most, although London also has the widest variations between rich and poor, and huge fluctuations in life expectancy. You have a point Will...................providing they don't live in London :D Link to comment Share on other sites More sharing options...
nowtelse2do Posted December 7, 2013 Share Posted December 7, 2013 And us in Lancashire are happiest of all. Went up on moor's today and filled mi lungs with that refreshing sea breeze.......I wer facing t'east :D Windy Dave 8-) Link to comment Share on other sites More sharing options...
Guest pelmetman Posted December 7, 2013 Share Posted December 7, 2013 nowtelse2do - 2013-12-07 5:23 PM And us in Lancashire are happiest of all. Went up on moor's today and filled mi lungs with that refreshing sea breeze.......I wer facing t'east :D Windy Dave 8-) You've been sniffing that fracking gas again Dave :D............. Link to comment Share on other sites More sharing options...
nowtelse2do Posted December 7, 2013 Share Posted December 7, 2013 pelmetman - 2013-12-07 5:34 PM nowtelse2do - 2013-12-07 5:23 PM And us in Lancashire are happiest of all. Went up on moor's today and filled mi lungs with that refreshing sea breeze.......I wer facing t'east :D Windy Dave 8-) You've been sniffing that fracking gas again Dave :D............. Yeh.....it's below me somewhere. :D Dave Link to comment Share on other sites More sharing options...
derek pringle Posted December 8, 2013 Share Posted December 8, 2013 Hi pepe, I agree with you, it is worse now and getting no better in the future. Seems to me that it is hard for the young ones to find a bad job now never mind a good job. It is also hard to see how anyone with a young family to bring up nowadays can put money in to pension at a reasonable amount out of a minimum wage salary. cheers derek Link to comment Share on other sites More sharing options...
Dave225 Posted December 8, 2013 Share Posted December 8, 2013 I am sorry but I think a lot of you are looking at things through very rosy tinted spectacles. To state that older people have never had it so good is being very pompous and frankly not really true. The implication is that older people never worked hard, never saved and have had everything given to them while the young generation will never have any form of good life. Although there was a period when people would join a Firm at 17 and retire at 60/65 staying with the same Company all their life, that changed very rapidly with the closures of the 70' onwards. Salaries were not that high compared to the cost of living and mortgage rates never fell below 10% until very recently. It was common knowledge you paid for your house 3 or 4 times over before you actually might get it. Inflation in the 60's was in the 25% range, just try that nowadays. It is also noticeable that savers have been punished terribly by the recent rate cuts, yet these are very often the older people who tried to save for their future, and are now being penalised. They did not demand the latest electrical gadget or a new car every year and as for going out partying every weekend, well that was a bit of a pipe dream for most of us. One 2 week holiday per year was the norm, not buzzing off for Gap Years , which equates to partying for 12 months. Yes, of course there were some winners. If you retired on a public sector pension then you were in clover, and that still holds true today. However, the thought of being held in contempt by the rest of society, plus the boring nature of the work, did nothing to attract me. I preferred to do my own thing, and make provisions like Pelmetman, for our future without depending on State Benefits. It was a choice we made and paid penalties to achieve it. Being apart from your family for umpteen Christmases and New Year was not the most enjoyable thing to have to do. There are opportunities out there, Aberdeen is crying out for workers, but they do not want people who have no ability to read or write, or cannot even add 1 and 1. A Degree from an old Polytech in Media Studies will be lucky to get you a job making coffee and that is where part of the 'crime' comes in. Allowing kids to do nothing at school was a disaster for the UK. Even now we meet people in supermarkets who cannot give you the right change, and yet will tell you they passed Higher Maths. If the bill is £16.30 and you hand over a £20 note and 30 pence, then the answer is to me, obvious, but time and time again, they do not know to hand back £4.Once kids were told they 'would all be winners' then the rot set in. How can you then settle for 2nd best or even 3rd best, as most of us actually did. We complain about immigrant workers, and I am not referrring to the umpteen scoungers flooding in, but to those skilled workers taking positions because there are no home grown applicants. So, the bottom line is that even although kids in their 20's have been told they will not get a State Pension until 68 or even 70, so what? They really think that £150 a week or whatever is going to give them the life they want? Just ask some of the pensioners nowadays having to live on it, and then tell them they are the lucky ones.That does not stop young people retiring any time they like, if they arrange it correctly. They need to stop whingeing and get a life. Plus older people need to stop feeling guilty,. Just because they have done it correctly they should not be blamed. Of course any of you feeling guilty rich pensioners out there are fully able to hand some of your money over to any young person you meet, if it will make you feel better. Refuse your Bus pass, Winter Fuel Payment and return your State Pension. Move out of you house into the garage so a family can take it over rent free. You can then sing along with the loud music every weekend as they party the night away. Link to comment Share on other sites More sharing options...
pepe63xnotuse Posted December 8, 2013 Share Posted December 8, 2013 Dave225... It would appear that the "youngsters" you know(or have read about) seem to be either thick or lazy(or both) and on top of that, they seem to spend all their time "partying"?... :-S ..and if that really is the case, then it does make one wonder just what sort of example their parents/grandparents(the "older generation") were setting them?(..and it's too much of a cop out, to just blame their schooling). Also why would one just assume that just because someone has reached some arbitrary age(65 at present), that then means that they have "..done it correctly.." ? ..because, if they are the parents/grandparents of the "youngsters" that you painted a picture of above, then the chances are, they've been irresponsible wasters as well. *-) As for youngsters wanting the "latest gadgets", well again, if their parents hadn't brought them up to be pampered little princes and princesses, then maybe that wouldn't be such an issue... I'll say again..A good many retirees(65-70) would not be in the positions they are in now if they had to have dealt with the likes of zero hour contracts, employer(s) relocating the operation to India/China being common place, the lack of affordable housing etc.... Link to comment Share on other sites More sharing options...
Dave225 Posted December 8, 2013 Share Posted December 8, 2013 pepe63 - 2013-12-08 2:20 PM Dave225... It would appear that the "youngsters" you know(or have read about) seem to be either thick or lazy(or both) and on top of that, they seem to spend all their time "partying"?... :-S ..and if that really is the case, then it does make one wonder just what sort of example their parents/grandparents(the "older generation") were setting them?(..and it's too much of a cop out, to just blame their schooling). Also why would one just assume that just because someone has reached some arbitrary age(65 at present), that then means that they have "..done it correctly.." ? ..because, if they are the parents/grandparents of the "youngsters" that you painted a picture of above, then the chances are, they've been irresponsible wasters as well. *-) As for youngsters wanting the "latest gadgets", well again, if their parents hadn't brought them up to be pampered little princes and princesses, then maybe that wouldn't be such an issue... I'll say again..A good many retirees(65-70) would not be in the positions they are in now if they had to have dealt with the likes of zero hour contracts, employer(s) relocating the operation to India/China being common place, the lack of affordable housing etc.... Do not know which ideal world you have lived in, but as a direct recipient of 50% pay cuts, redundancy 3 times, working in arsh...e parts of the world where I was always about to get shot, or robbed. Having to pay credit to get our 1st small 4 cubic foot fridge at a payment of £12 per month on a salary of £100 per month before 33% tax. Affordable housing??? Do not make me laugh or you never watched Cathy Come Home or 10 Rillington Place. Maybe in your ideal comfortable world all was rosy, but for a very large number it most certainly was not. I worked as a rent collector for the local Council in the 70's to get extra money to keep the family and some of the homes I had to visit, you would not wish to keep a dog inb, but the local Labour Council was charging large rents for the slums. Take off the rosy spectacles and remember when getting a telephone line was a major operation let alone buying the latest mobile. Things are not brilliant nowadays but they are no worse than before, just different. Link to comment Share on other sites More sharing options...
Guest peter Posted December 8, 2013 Share Posted December 8, 2013 Bang on Dave. I don't feel guilty, as we've worked bloody hard for what we've achieved. Not p*ssed all our money up the wall like some do. Link to comment Share on other sites More sharing options...
Guest pelmetman Posted December 9, 2013 Share Posted December 9, 2013 Interesting responses ;-)...............do you think your grandkids will be any healthier than yourselves at 77? There's a big difference between living and existing 8-).......... Link to comment Share on other sites More sharing options...
Dave225 Posted December 9, 2013 Share Posted December 9, 2013 peter - 2013-12-08 10:56 PM Bang on Dave. I don't feel guilty, as we've worked bloody hard for what we've achieved. Not p*ssed all our money up the wall like some do. Thank you. I was beginning to think I was the only b....d who had worked all his life just to be told that i should feel guilty and give it all to some spotty teenager who cannot spell. Link to comment Share on other sites More sharing options...
Dave225 Posted December 9, 2013 Share Posted December 9, 2013 pelmetman - 2013-12-09 8:54 AM Interesting responses ;-)...............do you think your grandkids will be any healthier than yourselves at 77? There's a big difference between living and existing 8-).......... No, because they will either die of alcoholism, drugs or just sheer stress. I can only hope some of them see sense and get the H..l out of the UK to somewhere where they can live a decent life without being told that everything they do is wrong, and that if they do make something of themselves, it will all be taken away and given to someone who has p....d it all away. I now realise that winning WW2 was a mistake. Link to comment Share on other sites More sharing options...
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