It's time to start digging up those Squirrelled Nuts!!!!

Nebulous2

barnstar2077 said:

Sea_Shell said:

Funny how things change.   

When I left work* I was half thinking, "let my job go to a younger person who NEEDS it"

Also Gov were all about FREEDOM and "access to your private pensions at 55"

So we made plans accordingly.   Adios work!!


Now it's backfired on "the economy"...Well that's worked out well then!!! 


Somehow, I don't think jobs actually exist with the level of freedom and flexibility that I would want to ever entice me back.    Zero hours is one thing, but its still on their terms, not mine.   

I don't think there are any jobs where you can wake up on a Tuesday morning and think, I'll pop in an do a couple of hours this morning, after I've been for a run!! 



*pre-covid, and from a part time "pocket money" job, not my main "career" which I'd already chucked in 10 years prior to that.

This was my thought exactly, if people can afford to retire and are not enjoying work like they used to, then retire and give a job to someone who needs/wants one.  Plus the company get someone younger they can boss about and give worse terms and conditions to, so everyone is happy(ish.)

Also, don't people who are retired put money into the economy?  When you move from saving to spending, don't retired people buy lunches, pay to go swimming/golf etc, go on days out and generally spend their money out in the wild?  Surely that puts money back into the economy and creates employment for the people serving them lunch or running other leisure facilities etc.

I left work and came back to the NHS part-time. I was very quickly offered a promoted post, with additional responsibilities. My first thought was, look at all these young people who should be building a career. Can they do it and I'll stay as I am, in the background, offering what support and advice I can?

I was quickly disabused of that by speaking to them. They simply didn't want it. Many of them were juggling childcare, family responsibilities, combined with 12 hour shifts, and were struggling to keep their heads above water where they were, without anything else.

Once I took the job, I realised why. There was an expectation that I was first there, to open up, and last to leave, to lock-up. I contribute 9.5% to my pension, while they pay 7.3% for the same accrual rate. I'm responsible for a lot of things I have limited control over. 

I'm not looking for sympathy, I've had more senior posts, and I enjoy the challenge. I'm also only doing it part-time, with no financial requirement to do so, and with fewer family responsibilities. I understand why they don't want it, and appreciate they are at a different stage in their lives. 

That's a fairly lengthy explanation of my own situation, but to come back to the issue of retired people. 

Yes they do put money into the economy, but not as much as they could. People's horizons and expectations shrink quite rapidly, and even on reduced income, a lot of pensioners continue to accumulate more, rather than spend it. 

Time4T_Accounts

I retired (or tried to) at 60 (now 64). Work kept me on an elastic band for a couple of years - truthfully, it suited during Covid lockdown.  For the last 12 months I’ve been treasurer of a local charity: the work is voluntary, and not only does my work contribute to the wellbeing of those supported by the charity, but it also develops and sustains employment within the charity.  I believe, though,  that, by definition, I am economically inactive!

quirkydeptless

Merry Christmas! Time to enjoy those nuts

https://www.youtube.com/watch?v=vX3PnqUJalI

Sea_Shell

❤️

Merry Christmas to you (all) too!! 

🎄🎄🎄

jimi_man

Sea_Shell said:

Funny how things change.   

When I left work* I was half thinking, "let my job go to a younger person who NEEDS it"

Also Gov were all about FREEDOM and "access to your private pensions at 55"

So we made plans accordingly.   Adios work!!


Now it's backfired on "the economy"...Well that's worked out well then!!! 


Somehow, I don't think jobs actually exist with the level of freedom and flexibility that I would want to ever entice me back.    Zero hours is one thing, but its still on their terms, not mine.   

I don't think there are any jobs where you can wake up on a Tuesday morning and think, I'll pop in an do a couple of hours this morning, after I've been for a run!! 



*pre-covid, and from a part time "pocket money" job, not my main "career" which I'd already chucked in 10 years prior to that.

I gave my notice in this week to 'retire' in February and Mrs J is retiring in March. We're 57. 

I have actually got as a side gig, a zero hours contract. Basically I can choose what days I want to work each month. There is a maximum but no minimum. I can choose the hours to a certain extent - early, mid or late. There is no continuity from the job in that you don't take anything home with you work wise, and start afresh the next time you go in and the money is reasonable. And it's actually ok to do. So it's not quite as you describe but it's pretty good in terms of flexibility. 

I'm keeping it as insurance in case things get worse suddenly and to pay for holidays. We like long haul holidays with business class flights, so it's our one vice which this will pay for. 

WYSPECIAL

You’d think offering a midlife MOT could back fire as the offer is more likely to be taken up by those stuck in one more year syndrome. The result could give them the confidence to make the leap.

Roger175

WYSPECIAL said:

You’d think offering a midlife MOT could back fire as the offer is more likely to be taken up by those stuck in one more year syndrome. The result could give them the confidence to make the leap.

This was my first reaction also.

My wife retired earlier this year and I am on the brink of beginning to wind-down (I am a self employed consultant, so it's more a case of pulling the plug, but then waiting a year or so for the water to drain, before I will be finally retired). I have been reluctant to finally pull that plug, but every time I put my figures into a calculator (Voyant trial is my preference), it tells me that we will be more than OK. I suspect the Government's proposed MOT would have reinforced this and given me the confidence to go earlier. 

NedS

So who exactly do we think the government would get to perform this mid-life MOT? Staff at the jobcentre (pointless), a regulated financial advisor (expensive), or who?

I also disagree with the "economically inactive" tag - those retired are far from economically inactive - they may no longer be earning an income but they are spending money in the economy, keeping businesses afloat, keeping people in jobs, paying wages, paying taxes (income tax, VAT etc). If you took everyone labelled economically inactive out of the economy it would look substantially different.

Somebody

Aviva already do a mid life MOT app in relation to your finances:
https://www.aviva.co.uk/retirement/tools/mid-life-mot-app/

westv

NedS said:

So who exactly do we think the government would get to perform this mid-life MOT? Staff at the jobcentre (pointless), a regulated financial advisor (expensive), or who?

I also disagree with the "economically inactive" tag - those retired are far from economically inactive - they may no longer be earning an income but they are spending money in the economy, keeping businesses afloat, keeping people in jobs, paying wages, paying taxes (income tax, VAT etc). If you took everyone labelled economically inactive out of the economy it would look substantially different.

It's a statistcal term, nothing more.