500,000 pensioners pay the price for the indebted.

beecher

Really2 wrote: »

I am sure the pensioners can handle themselves most of them have been trough wars.
They don't need the people on here to sort of push their problem to cover what is actually upsetting them.;)

The ones I know can handle themselves fine, but are truly angry at the cut in savings rates. They might not be the biggest casualties of this recession, but their anger is justified in my opinion.

I'm not pushing their problem to cover my own upset - I am also angry on behalf of the school leavers I know who want nothing more than an apprenticeship but can't get one. I'm angry for my relatives who've been made redundant too. I'm angry for those of us who didn't believe the hype, who lived within our means, and who are going to have to pay for the debt party which others have enjoyed over the last decade.

Wookster

Really2 wrote: »

But we are talking about a generation that mostly did not take out loans etc so zero risk.;)

What is a mortgage then?

chucky

beecher wrote: »

The ones I know can handle themselves fine, but are truly angry at the cut in savings rates. They might not be the biggest casualties of this recession, but their anger is justified in my opinion.

yes it is not good for those pensioners who just relied on their savings.

think of it this way - for a person that retires at 60/65, how many recessions do you think that they will go through from their retirement onwards?

do you not think that maybe advising pensioners or making the decision to rely exclusively on savings is a good one?

Really2

lostinrates wrote: »

Hmm. 2009-65+1944...right? So yes, this years crop of new pensioners saw some of the war, and the tough times after wards. and the good and bad times since. But they also were around for right to buy, the massive increase in property ownership.

I don't really get the point.

I hope to reach pensionable age, and I hope to be able to have savings to live off. Doesn't that make me a sort of interested party? It might not be pressing, but it might set a precident.

aahh but not all pensioners are only 65.

My point is the ones who are 65 are more likely to be better off than the ones age 80-90.

The reason for this are that standards of living have increased with time.

I would say nearly all our generation will go in to retirement with some kind of pension, savings, mortgage free.

This is down to the fact an average wage now buys considerably more than an average wage in the 50's and 60's (if you remove houses)

disposable income is now a thing for the majority.

So the vast majority of current pensioners did not have the ability to prepare like we have.

this is kind of proved by saying 500,000 are losing out but there are 11,000,000 pensioners.

So the ones complaining about low intrest are considerably better of than most pensioners and have not actualy been any more prudent than the others

Really2

beecher wrote: »

The ones I know can handle themselves fine, but are truly angry at the cut in savings rates. They might not be the biggest casualties of this recession, but their anger is justified in my opinion.

I'm not pushing their problem to cover my own upset - I am also angry on behalf of the school leavers I know who want nothing more than an apprenticeship but can't get one. I'm angry for my relatives who've been made redundant too. I'm angry for those of us who didn't believe the hype, who lived within our means, and who are going to have to pay for the debt party which others have enjoyed over the last decade.

I agree with all of that..

Really2

Wookster wrote: »

What is a mortgage then?

Do you think the majority of pensioners own a home and they have all held a mortgage at some time?

Antispam

Its not just pensioners who suffer we all suffer unless you are some rich banker.

We see house prices devalue so some may be in negative equity, we see jobs go so many get in arrears and may loose there homes, and then be in debt.

In anything must be learned over this its this, irresponsible lending must stop, that is what partly caused this

lostinrates

Really2 wrote: »

aahh but not all pensioners are only 65.

My point is the ones who are 65 are more likely to be better off than the ones age 80-90.

The reason for this are that standards of living have increased with time.

I would say nearly all our generation will go in to retirement with some kind of pension, savings, mortgage free.

This is down to the fact an average wage now buys considerably more than an average wage in the 50's and 60's (if you remove houses)

disposable income is now a thing for the majority.


Hm. My paternal grandparents were a policeman and a nurse. In my book those are good, ordinary careers. My grandmother died five years ago I think, in her nineties, My grandfather went about 10 years ago.

They bought sometime after the war in Sarf London..a family home, BTW, not a flat. They retired, with their many pensions into Hampshire. They went on Saga holiday four times a year. They did not buy tat and rubbish, that is very true, but I tell you, they had a hell of a lot more to retire on comparitively, than my parents have.

My grandmother went into private OAP housing after my Grandad'sdeath...and from the SAVINGS before the proceeds of the sale of her home, we could buy her flat. She later went into a private care home and some of the proceeds of her house sale went into that (as IMO they should do).

I should add, they were not canny investors but serious savers. It was all in their pensions and ordinary savings accounts.

Really2

Antispam wrote: »

Its not just pensioners who suffer we all suffer unless you are some rich banker.

We see house prices devalue so some may be in negative equity, we seem jobs go so many get in arrears and may loose there homes, and then be in debt.

In anything must be learned over this its this, irresponsible lending must stop, that is what partly caused this

Spot on and a good one to end on I think.

jay3_2

Antispam wrote: »

Its not just pensioners who suffer we all suffer unless you are some rich banker.

We see house prices devalue so some may be in negative equity, we seem jobs go so many get in arrears and may loose there homes, and then be in debt.

In anything must be learned over this its this, irresponsible lending must stop, that is what partly caused this

...and irresponsible borrowing