Crunch Time: A crisis that is dividing young and old

davilown

needahome wrote: »

you complain that they were high when you were working, now moan they are too low now that you are retired.

Thats the problem with pensioners, they only care for themselves and ignore the generation coming after them, the generation which will be paying for them!

take higher education, when they went to university they had theirs paid for by the generation in front of them, when the generation behind them came, they said sod it, we are now paying for you!

Get a grip and be happy with what you've got - who really cares about you anyway? Want a bigger pension? then save more! They did, no yearly holidays in the sun, a car to last ten years not every three and a house to fit their family into. BTW, I have a final salary pension and I'd happily give part of it to my parents if they needed it.

Old_Slaphead

needahome wrote: »

I had to pay for my university education, they got theirs for free.

They got final salary pensions, I don't

I've got to work longer than they did, to pay for their greed.

They bought their homes a lot cheaper then we do in relation to their wages.

need I go on ?

1)In the 'old days' hardly anyone went to university. We had to get jobs and didn't get 'gap years' with cheapo flights and 3 years boozing at unis for (in many cases) worthless degrees.
2) Nobody except featherbedded public 'servants' get FS pensions anymore.
3) Work longer?? Many of us started at 15 or 16.....that's 6 years before today's lot. Many of us work for a full 50 years!!!
4) If you paid ridiculous home prices then blame the builders for supplying such crap. Anyone who brought overpriced appartments and tiny houses for a kings ransome should be venting their spleens on this 'socialist' government and their lax planning rules for allowing it to happen. Nowt to do with us owd codgers !

Younger generation want it all and want it all now. Well try working for 15 years and saving a bit before you buy your 1st house and a car.

needahome_2

staffie1 wrote: »

And quite frankly I don't give a toss about younger people who have saddled themselves with so much debt over the last few years that they would never be able to pay it back if they lived to be 150. That's their own fault.

what hardship ? even those who have never put a penny away for their future are laughing all the way to bank, with housing benefit,pension credit, attendance allowance, council tax benefit, winter fuel allowances, etc etc

when I retire I doubt these things willl still exist.

Time2Go_25

needahome wrote: »

I had to pay for my university education, they got theirs for free.

Many of the current pensioners will not have been to university, so this is untrue.

needahome wrote: »

They got final salary pensions, I don't

By saying I don't means you must be a pensioner.

needahome wrote: »

I've got to work longer than they did, to pay for their greed.

Many of them will have left school at 15, if you went to university they will have worked at least 6 years before you did

needahome wrote: »

They bought their homes a lot cheaper then we do in relation to their wages.

They will have had to save a lot more to get a mortgage and it would have not necessarily been that must easier than it is now.

needahome wrote: »

need I go on ?

Please don't

VfM4meplse

These are troubled times for everyone. It does no good to envy thy neighbour.

This phase won't last forever after all.

nearlyrich

needahome wrote: »

I had to pay for my university education, they got theirs for free.

They got final salary pensions, I don't

I've got to work longer than they did, to pay for their greed.

They bought their homes a lot cheaper then we do in relation to their wages.

need I go on ?

I am not quite a pensioner yet but now I have brought my family up I am saving for my retirement, some of your points are ridiculous.
I didn't have a university education, my parents couldn't have afforded to support me and although grants were available it wasn't enough to live on. I have never had a job with a final salary pension and only one of my various employers has ever even contributed to my pension plans, I have contributed the rest and it's losing money on a day to day basis in these turbulent times not to mention my blue chip shares that I bought as part of my planning for retirement that are almost worthless.

I have to work till I am 66 even though it was 60 when I joined the system.

I bought my first house in the early 80's with my then fiance, we earned less than £90 per week between us, the house cost a minute amount of money compared to what it would cost now but it was a huge chunk out of our monthly income to pay the mortgage.

We had a period of 15% interest rates and when we divorced I took on the mortgage and brought up my two children whilst working fulltime, no tax credits etc for my family.

We didn't get nursery fee tax relief or healthy eating grants, rate rebates for single occupancy etc etc etc...

When it came time for my children to go to university they changed the rules to my disadvantage in three successive years so don't talk to me about hard done to.

My savings are earning next to nothing, I will put up with this because if I have to I can work a bit longer than I planned to top up my retirement savings so you don't have to support me with pension credits. Current pensioners are not in a position to go back to work to top up their income and are quite rightly worried about losing income when everything is going up.

I don't think like you that I don't care if you can't pay your mortgage I just think there should be a level where everyone is treated fairly. I am not wealthy I probably never will be but I have tried to ensure I stay self sufficient in my old age and this economic climate is affecting my planning.

Setting old against young and vice versa will not solve the problem and it's unfair to label people greedy because they have benefitted from a rise in the value of their home, most people buy a home to live in and they need somewhere to live until they die.

staffie1

needahome wrote: »

what hardship ? even those who have never put a penny away for their future are laughing all the way to bank, with housing benefit,pension credit, attendance allowance, council tax benefit, winter fuel allowances, etc etc

when I retire I doubt these things willl still exist.

What hardship? Are you serious? Do you have any idea what a pittance old people get when they have to rely on state benefits. You should come and visit my parents in their council bungalow and see what it's like. I help them out otherwise they wouldn't eat some weekends. They both worked hard all their lives until they couldn't anymore and all their income went into the house and bringing up a family so we had decent food to eat and clothes to wear and went to school every day. I don't begrudge them a penny of what they claim from the state - they deserve every penny and a lot more.

needahome_2

nearlyrich wrote: »

. Current pensioners are not in a position to go back to work to top up their income and are quite rightly worried about losing income when everything is going up.


, most people buy a home to live in and they need somewhere to live until they die.

can you not see a solution for them ? it's called a lifetime mortgage, like you say they only need their home till they die.

but no, modern day pensioners don't want to do this, they still want to cling onto their property when they are six foot under.

LittleMissAspie

Old_Slaphead wrote: »

3) Work longer?? Many of us started at 15 or 16.....that's 6 years before today's lot. Many of us work for a full 50 years!!!

My mum left school at 15 but never worked again after her first baby. How many people can do that these days? My dad's average salary paid for her and two children and a detached house in a London suburb. They are pensioners now but I see no sign of hardship, in fact every pensioner I can think of is still living in a large family home and seems to have plenty of disposable income. Long-haul holidays, home decorating etc. My parents even splashed out on a brand new car not long after my dad retired.

Anyway the OP has missed out a huge chunk of people - those who are in work and worried about their jobs but weren't stupid enough to borrow 6x their salary and have been saving instead. I'm worried about my job, AND worried about inflation, AND annoyed about low interest rates.

nearlyrich

needahome wrote: »

can you not see a solution for them ? it's called a lifetime mortgage, like you say they only need their home till they die.

but no, modern day pensioners don't want to do this, they still want to cling onto their property when they are six foot under.

Why on earth would anyone want to be paying a mortgage after retirement? What's wrong with the idea that someone can go out to work buy what they want with their hard earned cash whether it's a house to live in or fast cars and loose women? Why should elderly people have to mortgage their property to live or sell their property at less than market value to keep you happy?