Funny Old World

MrRee_2

I'm old and have seen some things ... but today's climate is like nothing I've ever seen before.

Inflation is at Zero, and has been for a while ... I remember 20%+ inflation.

My savings receive much more than zero interest so I'm getting better off ... indeed, everyone should be getting 3% on £60k in 3 Santander 1-2-3 Accounts by now ... that £60k buys around £61k of goods and services in 12 months time.

Pay is increasing at 2.9% ... further increasing buying power.

A brand new car, Dacia, can be bought for around £6000 today ... not much more than a new car would have cost 30 years ago!

A 55" TV costs around £500 ... a 29" TV cost me £600 25 years ago!

Microwaves at £50 ... 30 years ago cost me £300!

Washing Machines can be had for £150 ... 30 years ago I was paying £350!

My home has increased by £1,000 a month for the past 24 years ... far more than any mortgage cost me.

Rental properties are yielding at least 7% and are also increasing in value ... you can't lose on BTL.

It's a very different world to the one I lived in in the 1950's ... and things are changing faster now than they ever have.

Yes, I'm called a Baby-Boomer, and may have had a decent hand played to me ... but, times have been very tough for us oldies ... getting to where we are took hard work. We didn't demand things before earning them, we worked and saved and then bought. Borrowing for anything other than a home was an admission of a reckless lifestyle.

Like I said, it's a funny old world .... :beer:

Aberdeenangarse

I'm sure you'll remember 30 years ago when average Funerals only cost £1,000, now nearer £4,000. Doesn't look like you'll have to budget much more than that for yours.

michaels

You are only alowed one 1-2-3 now - and they just upped the fee by (an inflation busting) 150% :rotfl:

MrRee_2

I have a 1-2-3 and the wife has and we have a joint - that's THREE!

And, yes, from January 2016 they will be charging £5 a month rather than £2 .... an extra £3 doesn't mean jack when you are receiving 3% on £60k to be honest.

[Deleted User]

MrRee wrote: »

Like I said, it's a funny old world .... :beer:

Funny that you've missed out stuff like final-salary pensions vanishing, and proper salary increases. Check out the rise in graduate salaries over the last 10 years; they've hardly moved.

PS. All the 'non-baby boomers' are paying for your pension

michaels

MrRee wrote: »

I have a 1-2-3 and the wife has and we have a joint - that's THREE!

And, yes, from January 2016 they will be charging £5 a month rather than £2 .... an extra £3 doesn't mean jack when you are receiving 3% on £60k to be honest.

I also get a fair bit of cashback on DD as well as my 3% on 60k (DW got 2 accounts before the limit was brought in) and I will still miss the 108pa....

MrRee_2

ringo_24601 wrote: »

Funny that you've missed out stuff like final-salary pensions vanishing, and proper salary increases. Check out the rise in graduate salaries over the last 10 years; they've hardly moved.

PS. All the 'non-baby boomers' are paying for your pension

Of course, Final Salary Pensions can no longer be offered as the lifespan of the young is to be greatly enhanced .... the young will probably live to 100.

Whilst the boomers will peg out at around 80 ..... I'm sure most would buy 20 years of extra life with their right to final salary pensions.

MrRee_2

michaels wrote: »

I also get a fair bit of cashback on DD as well as my 3% on 60k (DW got 2 accounts before the limit was brought in) and I will still miss the 108pa....

Indeed, I get cashback on bills too ..... and yes, £3 per account per month extra is a £108 loss.

But, still, where can you get 3% on £60k?

BobQ

Aberdeenangarse wrote: »

I'm sure you'll remember 30 years ago when average Funerals only cost £1,000, now nearer £4,000. Doesn't look like you'll have to budget much more than that for yours.

Does anyone really care? It comes out of your estate and if you do not leave any then someone else will pay for the hole to be dug.

If anyone had told me when I was 16 that when I came to retire I would be worth as much as I am now I would have laughed at them. But if I died with nothing left I would not give a fig,

ukmike

A brand new car, Dacia, can be bought for around £6000 today ... not much more than a new car would have cost 30 years ago!

Think you mean not much more than a new HOUSE would of cost 30 years ago!

michaels

MrRee wrote: »

Indeed, I get cashback on bills too ..... and yes, £3 per account per month extra is a £108 loss.

But, still, where can you get 3% on £60k?

Have you got kids? You can get 3% on 90k for each of them with no charges.