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Current a level students won't get a pension till 77... Lets cut boomers pensions NOW
Comments
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As a relatively new entrant into the workplace, if you had to make a choice with finite resources , would you go the BTL route or put the money away into a private pension pot?
Based on recent events I can't say I would trust annuity rates. We have seen these can rise or fall significantly. By comparison a BTL seems to offer a more predictable income stream.
Tomorrows 2060 pensioner will have to be even more savvy it seems.0 -
ruggedtoast wrote: »
Further points deducted for failing to criticise the flagrant proliferation of iphones and hedonism in Magaluf by those f3ckless and empty headed young people you hate so much (but are also relying on to fund your retirement / buy your house when you dont want it / provide your health care etc)
2/10
A characteristically rather poor attempt at laughing and fobbing it off. But it doesn't answer the point that I made does it. And it's a pretty significant and important point in this context.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
grizzly1911 wrote: »House prices going up because of inflation is nothing new it has always happened.
That's a very valid point indeed. With all the very significant house price inflation that took place right back from the 1960s (?) -- certainly the 70s, people somehow coped, and nevertheless saved up deposits, got mortgages, met the payments, and then more often than not moved up market once or twice.
Now many apparently can't cope, even though prices have been flat for yonks and mortgage interest rates are at record lows.
Maybe they should think again about those massively overblown and ruinously expensive weddings.
No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
You can't have your cake and eat it. If you want younger people to pay the £300,000 asking price for your house you paid £30,000 for, then you can't have interest rates at the 15% you'd like to make out on your savings.
This pretty much sums it up. If the debtors can't pay then they have to default, and if not permitted to default openly then they default by stealth, through inflation engendered by government policies to support them.
The sad thing is this sort of economic adjustment is pretty indiscriminate, so all sorts of people get smacked by it even if they never did anything 'wrong'. And then you get the people who benefit - mainly homeowners with 'gold-plated' public pensions, who got the best of all worlds.0 -
A slight adjustmentruggedtoast wrote: »
Further points deducted for failing to criticise the flagrant proliferation of iphones and hedonism in Magaluf by those f3ckless and empty headed young people you hate so much (but are also relying on to fund your retirement / [STRIKE]buy[/STRIKE] inherit your house when you dont [STRIKE]want [/STRIKE]need it/ provide your health care etc)
2/10
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Have no idea what you are all squabbling about now, but just read this article, and didn't want to create another fight thread...
http://www.telegraph.co.uk/news/politics/9787324/IDS-pensioners-benefits-cut-could-appear-in-next-manifesto.htmlPaul Johnson, a director of the Institute for Fiscal Studies, said more than half of the current welfare bill of £200 billion goes to pensioners, but this has so far been largely "untouched" by efforts to make savings.
He said: "There are political reasons for that, but there are also kind of other good reasons, in particular it’s much harder for pensioners to change their behaviour and their incomes once they hit pension age, and a lot of that money for pensioners is wrapped up in the state pension where there is, at least to a large extent, a promise about what it is that will be paid.
"But it is very noticeable that that is one group that has not been affected by the austerity programme as a whole.”0 -
Graham_Devon wrote: »Have no idea what you are all squabbling about now, but just read this article, and didn't want to create another fight thread...
http://www.telegraph.co.uk/news/politics/9787324/IDS-pensioners-benefits-cut-could-appear-in-next-manifesto.html
It is often said that a measure of a civilised society is how well it looks after its elderly.
Under Labour NHS care of the elderly became pretty appalling in many instances, they did little for state pensions compared to what the coalition is trying to do, they did squat about the elderly care funding crisis.
But can you imagine how Milliband and Balls & co would scream blue murder if the coalition were to say, okay state pensions will have to be subject to the 1% indexing cap too.
To be fair though it's not the Labour Party as a whole that wants to shaft pensioners, it's a minority of disaffected, chip-on-the-shoulder, ageist younger generation, who "WANT IT ALL NOW, MUM !!!!!"No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
Graham_Devon wrote: »Have no idea what you are all squabbling about now, but just read this article, and didn't want to create another fight thread...
l
"But it is very noticeable that that is one group that has not been affected by the austerity programme as a whole.”
Possibly because a number of pensioners have also been provident and provided a cushion from their own endeavours. That is being attacked first."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
GeorgeHowell wrote: »It is often said that a measure of a civilised society is how well it looks after its elderly.
No that is a misquote, but I guess you are not quite as concerned for the unemployed and the sick? It wouldn't quite fit into your view of the world.'A nation's greatness is measured by how it treats its weakest members' ( Ghandi)'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Graham_Devon wrote: »Have no idea what you are all squabbling about now, but just read this article, and didn't want to create another fight thread...
http://www.telegraph.co.uk/news/politics/9787324/IDS-pensioners-benefits-cut-could-appear-in-next-manifesto.html"But it is very noticeable that that is one group that has not been affected by the austerity programme as a whole.”
What does 'as a whole' mean? What about the Age allowance being scrapped? What about the move from RPI?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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