Does anyone still believe they'll ever retire?

Home Forum Chat Forum Does anyone still believe they'll ever retire?

Viewing 40 posts - 1 through 40 (of 134 total)
  • Does anyone still believe they'll ever retire?
  • Premier Icon binners
    Subscriber

    With Gideon set to raise retirement age to 70, retirement seems to be taking on the air of Yossarians 25 missions in Catch 22.

    I’ve pretty much given up on the idea that I’m ever going to retire. I think by the time I hit that age, it’ll be viewed as a quaint little thing anachronism, that happened briefly for a golden generation of baby boomers. Are we going to have to face the reality that we’ll be working until we drop?

    Does anyone believe they’re going to have a retirement that in any way resembles what it is today? Is anyone actually that naive?

    Premier Icon bruneep
    Subscriber

    I’ll tell you in 6yrs 3mths and 2 days

    Premier Icon Stoner
    Subscriber

    I fully expect to retire using my private pension and savings earned and not spent over a lengthy working career to do so.

    Dont you?

    Premier Icon scotroutes
    Subscriber

    I already have.

    clubber
    Member

    I’m reckoning on 70. I’m hoping not 75.

    Premier Icon jam bo
    Subscriber

    I don’t expect to able to rely on any state provision.

    bencooper
    Member

    Depends on your age now, I suppose.

    I’m 36 – I’m assuming I won’t be retiring.

    Premier Icon wwaswas
    Subscriber

    I can’t imagine being retired for 25 years, tbh, which it looks like I might be based on the average life expectancy is for someone my age.

    What do you do for 25 years? Watch Jeremy Kyle? Think I’d rather carry on working, tbh.

    Plus having enough savings for a 25 year holiday doesn’t seem likely.

    fasthaggis
    Member

    My drug cartel is showing a nice return at the mo,so I am in no rush.

    🙂

    Premier Icon firestarter
    Subscriber

    Lucky escape bruneep. I was set to go in 12 but im going to do 20 instead now (at least) thanks to lewis and his cronies

    corroded
    Member

    I don’t expect to able to rely on any state provision.

    +1
    And it’s not something I’m in a position to do much about. Fingers crossed for a wealthy, elderly relative out there somewhere.

    If you look at how life expectancy and other factors have changed since the introduction of the state pension, reform is inevitable and essential. But I do think we’ll look back on the post-war generation as having eaten all the cake…

    monkeyfudger
    Member

    Never have, despite constantly bitching about work I enjoy it and would miss the banter that you don’t really get anywhere else. I’m of the opinion that retirement is bad for most unless you’ve got enough money to be out and about traveling and generally keeping yourself very active.

    Premier Icon buck53
    Subscriber

    I don’t expect to make it to that age, but if I do I fully expect to be working for a living, at least until the day I die.

    Premier Icon Flaperon
    Subscriber

    I don’t expect to able to rely on [to even SEE, in my case] any state provision.

    I agree. Fortunately I’m building a decent private pension, but I don’t hold out much hope of seeing that either given the catastrophic pensions meltdown we’re due in the next 50 years.

    ti_pin_man
    Member

    binners – in the future retirement will become an urban myth, a story of old told to kids to help them sleep at night like tales of unicorns and castles.

    I’m just happy now when my dad asks how my pension is going I can look him in the eye and say its crap, my generation has to keep working to support him and his mates living longer and enjoying a sunny life on a final salary.

    clubber
    Member

    What do you do for 25 years? Watch Jeremy Kyle? Think I’d rather carry on working, tbh.

    If you were lucky enough to be a baby boomer like my Dad who retired a couple of years ago, the answer seems to be 25 years of doing all the things you’d have liked to have done if you didn’t need to earn a salary. I reckon he’s busier (and happier) now than he’s ever been.

    Mr Woppit
    Member

    clubber – Member

    I’m reckoning on 70. I’m hoping not 75.

    This.

    jfletch
    Member

    Did anyone read Ben Goldarcre’s letter in the times regarding the old stealing from the young? (It was all over twitter but I can’t link to it at the moment)

    Very compelling stuff. Can’t anything changing though as old people vote and turkeys ‘aint gonna vote for Xmas.

    Premier Icon binners
    Subscriber

    Thats my thoughts Flaperon. I’ve packed in paying into my private pension, as I reckon the whole private pension system will implode before I get a sniff of anything from it. And I’m taking it as read state pensions will be long gone by that point

    mt
    Member

    Yes I shall retire and all you young people will paying for it. He he!

    teasel
    Member

    If you were lucky enough to be a baby boomer like my Dad who retired a couple of years ago, the answer seems to be 25 years of doing all the things you’d have liked to have done if you didn’t need to earn a salary. I reckon he’s busier (and happier) now than he’s ever been.

    I was going to post something very similar to that in response to what I see as a lack of imagination. There’s more to life than work if you’re lucky enough…

    Tijuana Taxi
    Member

    I did on October 31st, 38 years at the same company and the offer of an early leaver package was too good to refuse

    Don’t know how I found the time to go to work, loving every minute and feel so much better physically and mentally

    Can’t be a good thing all the oldies staying at work, how about jobs for the youngsters. Maybe the government should offer a scheme where you can voluntarily pay more into the state pension so you can retire at a sensible age

    Junkyard
    Member

    I don’t expect to able to rely on any state provision.

    Why? pensioners vote as long as that remains the pension will remain

    FWIW minimum for a single person on unemployment is less than £80 if over 25 and the minimum for a retired person is over £150 per week.
    Plenty of other benefits available as well

    The real issue is that the current retired folk , who got free education , full employment and cheap housing are the ones who have not paid enough to cover their retirement costs and we have to pay for them and us.

    As the poster above shows they really care about shafting their kids and grandkids from the position of being the richest folk to have ever lived and getting others to pay for it

    Says something about humanity that does tbh.

    bencooper
    Member

    The fundamental problem is people are living too long. When the state pension was introduced, there were about 20 people working for every retiree – now it’s about 3.

    You don’t need to be a mathematician to see that’s a big problem.

    TBH, I don’t have a problem with working longer – I’ll also live longer, so it evens out.

    Tijuana Taxi
    Member

    The real issue is that the current retired folk , who got free education , full employment and cheap housing are the ones who have not paid enough to cover their retirement costs and we have to pay for them and us.

    Everyone gets free education until the age of 18 and can’t remember full employment in the Thatcher years. Houses were certainly not cheap either with mortgage interest rates far above those of today.

    5thElefant
    Member

    I don’t expect, or want to retire.

    Retirement in general is a weird concept. Originally you retired when you were about to die. They screwed up badly using that age rather than using about to die -1.

    Premier Icon binners
    Subscriber

    How will we work out ‘about to die -1’?

    Premier Icon kimbers
    Subscriber

    depends how rich you are in the poorest (glasgow, blackpool etc) parts of Uk average male life expectancy is 73 its nearer 85 years in kensington and chelsea

    and healthy life expectancy?

    is below that line in poorer areas

    jfletch
    Member

    The fundamental problem is people are living too long. When the state pension was introduced, there were about 20 people working for every retiree – now it’s about 3.

    The fundamental problem is that current retirees won’t change their “package” in relation to this change in life expectancy. Instead choosing to force the young to pay for “what they were promised” but they failed to fund.

    I’d say ****-em. Means test the state pension, tax private pensions to the hilt, make people pay for their own care homes if they can even if it means selling their house (since they no longer need it) and force them to spend their savings by increasing inhertiance tax.

    It will be good for the economy since all that grey cash will be released into circulation and its nothing less than they are doing to us by clinging onto their unaffordable benefits.

    Never going to happen though as all of the polictical parties need to pander to the grey vote to be in power.

    Premier Icon lunge
    Subscriber

    I’m 33 and full expect to work for another 40 years. I also expect the state pension will be long gone. You have to remember the state pension age of 65 was introduced when life expectancy was something like 53 so by the same theory it should be be around 90 years old now.

    5thElefant
    Member

    How will we work out ‘about to die -1’?

    Easy to do on average.

    The original retirement age set at 65 because very few people lived that long.

    bencooper
    Member

    even if it means selling their house (since they no longer need it) and force them to spend their savings by increasing inhertiance tax

    Problem is, I’m kind-of relying on what I’ll get from my parents to fund my old age…

    clubber
    Member

    but they failed to fund.

    Well they didn’t really did they. The organisations (be they corporate or government) told them what they had to pay to get X benefit. It’s hardly suprising that they paid what they were asked to and expect to get what they were promised.

    The problem really is that like so many things, governments never made the hard, correct but unpopular decisions that they should have done and this in turn is down to all of our faults in making them behave that way by voting them out if they do those things…

    Premier Icon lunge
    Subscriber

    Jfleth, interesting idea. Basically those who have saved and prepared for their retirement financially should be taxed to pay for those that didn’t? Hmm, I can see a debate on political ideology coming on…

    jfletch
    Member

    Well they didn’t really did they.

    “They” as a generation/cohort, whatever you want to call it failed to put enough asside to pay for what “they” as idividuals were promised.

    Junkyard
    Member

    Well they didn’t really did they.

    Yes they really did pay in not enough to cover what they would get out and passed this on to future generations who do not get free education nor the pensions they recieve

    The organisations (be they corporate or government) told them what they had to pay to get X benefit. It’s hardly suprising that they paid what they were asked to and expect to get what they were promised.

    No its not surprising they are cross but we could just say you know what there is not enough money as you have the misfortune of living longer than expected, your weel off and you need to make some sacrifices……..Would you say your parents were poor? Mine are not even close to it tbh

    Of course they could say **** off, you pay for it you bastards – I was not even alive when the “promise” was made so it seems entirely reasonable I fund it and get less than they get and for a shorter period. Thanks richest retirees we will ever have who retire for th elongest time.. Happy to pay for what someeone else promised you
    That is the fair solution here to this problem I assume

    Its does show the power of voting [ and the weakness of democracy]no one messes with them as they vote just like car drivers

    jfletch
    Member

    Problem is, I’m kind-of relying on what I’ll get from my parents to fund my old age…

    Chicken and egg though isn’t it.

    The reason our generation isn’t able to save for our retirement is that the baby boomer generation stole all the money (in the form of house price rises and unaffordable pensions). If we stop them hoarding all the stolen money then you would be able to save, rather than relying on you getting your own individual slice of the stolen money.

    tazzymtb
    Member

    to be honest with the size of inheritance I’ve got coming and by selling of some of the family lands and estates, I’ll be sitting on my arse and taking it easy before I’m 50.

    5thElefant
    Member

    The reason our generation isn’t able to save for our retirement is that the baby boomer generation stole all the money (in the form of house price rises and unaffordable pensions). If we stop them hoarding all the stolen money then you would be able to save, rather than relying on you getting your own individual slice of the stolen money.

    Falling birth rates and not enough house building.

    Shag more and get rid of planning restrictions and you could solve the problem in 20 years.

    The whole system relies on endless growth so it has to collapse eventually.

Viewing 40 posts - 1 through 40 (of 134 total)

The topic ‘Does anyone still believe they'll ever retire?’ is closed to new replies.