Long pleasurable retirements funded by generous pensions are a historical anomaly. In years to come historians will look back at pensions as an oddly fortuitous quirk enjoyed by a few lucky people who happened to be born at the right time.
For everyone before that time, and for everyone after, spending up to one third of one’s life unproductive yet affluent is a luxury available only to the super wealthy.
The options available of the majority of us not lucky enough to be in the right groups?
1. Have a family in the hope they’ll care for you, and try not to worry about the future they’re going face once you’re gone.
2. Live for the moment, enjoy your youth and your health while you’re lucky enough to have it, and plan to die before age becomes a problem.
3. Earn (or cheat) your way into the super wealthy set for whom such cares don’t exist.
The welfare state is being strategically dismantled as we type. With nothing to prop us up when we start to fall, life expectancy will drop. With no public healthcare provision, the poorer you are the younger you’ll be when you go.
I can see no point saving for retirement. Pensions are a ponzi scheme that is already collapsing, and it’s unlikely to see out an ageing generation hoping to be supported by the current working generation who can’t get jobs, having kids who can’t get an education.