At last, the baby boomers will share the pain

thorsoak

ruggedtoast wrote: »

You can always downsize to a comfortable flat.

I'll die first!

danothy

thorsoak wrote: »

The majority of the pensioners that I know do not have final salary pension schemes - of those that do have, 6 (out of 11) ...

I would have thought that 6 out of 11 constituted a majority ...

thorsoak

danothy wrote: »

I would have thought that 6 out of 11 constituted a majority ...

Apologies - badly written. Istead of
The majority of the pensioners that I know do not have final salary pension schemes - of those that do have, 6 (out of 11) ...

It should read:-
Of the 11 who do have, final salary pension schemes, 6 .....

danothy

thorsoak wrote: »

Apologies - badly written. Istead of
The majority of the pensioners that I know do not have final salary pension schemes - of those that do have, 6 (out of 11) ...

It should read:-
Of the 11 who do have, final salary pension schemes, 6 .....

Hmm, maybe I'm just tired ... just for the sake of clarity then, how many pensioners do you know and how many pensioners do you know that have final salary pensions? (I assume the latter will be 11, but out of how many total?)

thorsoak

..........The majority of the pensioners that I know do not have final salary pension schemes - of those that do have, 6 (out of 11) of them had to take early retirement on ill-health grounds, therefore final salary pension was based on actual salary earned rather than that forecast. Of the remaining , 15 have little dribbles of pensions from previous employments which add up to something in the region of £150-200 PER MONTH, 5 couples have no private pension whatsoever and 10 have private pensions whose values fall far below the predicted forecasts.........

Quoting from my post. These people I know well enough to talk frankly about money. The comma in red I have added for clarity.

ruggedtoast

thorsoak wrote: »

I'll die first!

Well there you go, you're living high on the hog.

You can't expect to always live high on the hog.

Jennifer_Jane

ruggedtoast, I might have felt the way you do when I was 17 or 18, although I would have hoped to be a rather nicer person than you appear to be.

I'd be interested in your opinions of what your 'third age' will be like. Do you intend to commit suicide at 50? 60? Would you give us your plans for your own future?

And re my comment about my own house, the point I was making was that 12 years ago you could buy a house and have it paid off 9 years later. So, if you were, say, 30 years old with a £20,000 deposit you could now be 41 and have paid off the house at age 39. That person would not have been a Baby Boomer. My house is certainly not 'worth' double.

As for downsizing, not possible for various reasons including moving costs, decorating, etc, have good neighbours here in a good safe area, rather than downsizing to a little terrace with unknown neighbours and safety.

StevieJ

Jennifer_Jane wrote: »

Also, please remember that currently any pensioner on an income of £25,400 plus gets penalised at the rate of £1 for every £2 on the amount above £25,400.

Just to correct that, they are penalised £1 for every £2 until age allowance = personal allowance (soon not to be an issue?).

Generali

thorsoak wrote: »

I'll die first!

Your choice. Just don't expect other people to pay for it.

thorsoak

Generali wrote: »

Your choice. Just don't expect other people to pay for it.

Please don't alarm yourself on that point ....we were stupid enough to arrange our funerals as we downsized .....again - spent our money so that we wouldn't spend yours!