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Baby boomer...
I doubt it.
As I said, an awful lot of my generation thought the state pension was the be all and end all to retirement.
hey only had to open their eyes from the glittering spending they made on big mortgages, cars, holidays, holiday homes , timeshare in Spain etc.
We brought up three children, wife stayed at home to give them a good parental upbringing, no car for over a decade.
All choices you can make with a bit of luck and understanding.
All choices you can make with a bit of luck and understanding.
In the end life is all about the luck you have. All the good luck and all the bad luck, that's all life is.
If a woman was born in 1953, she received her state pension at age 60 in 2013.
But that's not correct, born at the beginning of 1953 wouldn't reach state pension age until 62 years, 8 months, 5 days. My mum born in 1950 didn't get state pension at age 60 she had to wait another 9 months as they were already gradually raising the age.
What exactly is the point of this post, OP?
All the good luck and all the bad luck, that's all life is.
Define luck.
I think you'll find it's 33 1/3% more:)
Yup, and I'd say a one third increase in the length of retirement is definitely a major change.
What exactly is the point of this post, OP?
I genuinely didn't understand what the problem was, what precisely it was. Something didn't add up.
Dennis99 - just because you don't see yourself as a lucky baby boomer doesn't mean you & your generation aren't. The luxury of having a stay at home mum is a thing of the past, mainly due to the rises in house prices many of the older generation have benefitted from. Look at the cost of your first home - I bet it was nowhere near £250k even inflation adjusted!
We brought up three children, wife stayed at home to give them a good parental upbringing, no car for over a decade.All choices you can make with a bit of luck and understanding.
Given that earnings to house price ratio has doubled in the last 40 years, it's now considerably harder for one parent to stay at home. Still a choice for lots of people, but fewer than before.
[quote=RichPenny ] Given that earnings to house price ratio has doubled in the last 40 years, it's now considerably harder for one parent to stay at home.
You're possibly confusing cause and effect.
Obviously equality in the workplace and house prices rising are correlated. Doesn't change what I wrote.
Too many variables to consider me and a lot of my generation as lucky baby boomers......
My first house didn't cost £250k, my current house is nowhere near that either.
Seems to have drifted off topic, but a lot of the wealth came from dual income families , mainly arising in the late eighties and early nineties, the so called Thatcher years when we had it so good..........
That was when we were a family of five, three young children, wife stayed at home , luxury isn't quite the word I would chose to describe it, no car, rode my bike to work ever day all weathers all year round.
Worked loads of hours, chose not to get into silly debt.
By the way, I was being sarcastic about the good times in the Thatcher years, just to clarify.
Too many people believe the hype about well off retired people in the so called baby boomers era.
I know a lot of people who struggle to make ends meet.
Doesn't matter too much what your home is worth really, say £250k for example, if your income is low you can't spend the equity in your house at Tesco.
Anyway, fed up of justifying any current political issues, brexit, pensions, the world has changed and having large amounts of debt is now the way that society has been fashioned , genuinely this is very unfortunate.
As they say on Dragons Den, I'm out.