Things to learn from this terrible situation.

Thrugelmir

soulsaver said:

Where IS that vaccine?

That's part of the problem. There's a generation who have never faced adversity in their lives.  Not war. not recession, not a pandemic. Somebody else has swept up and made life extremely comfortable. Even with a vaccine tomorrow Covid will remain with us for some considerable time. Eradication , if it's possible of course, is going to be another challenge in itself. 

veryintrigued

State pension age will go through the roof on the back of this.

Thrugelmir

veryintrigued said:

State pension age will go through the roof on the back of this.

No. We are in the midst of post war baby boom.  In time the population size will decline. People may have to work to their SRA rather than retire early. That's a return to the past in itself.  Biggest issue is redistribution of wealth and becoming a more equitable society again. 

lhsecons

Thrugelmir said:

soulsaver said:

Where IS that vaccine?

That's part of the problem. There's a generation who have never faced adversity in their lives.  Not war. not recession, not a pandemic. Somebody else has swept up and made life extremely comfortable. Even with a vaccine tomorrow Covid will remain with us for some considerable time. Eradication , if it's possible of course, is going to be another challenge in itself. 

Since the last recession ended in 2009, the only people in the position you describe will be 11 or younger.

Thrugelmir

lhsecons said:

Thrugelmir said:

soulsaver said:

Where IS that vaccine?

That's part of the problem. There's a generation who have never faced adversity in their lives.  Not war. not recession, not a pandemic. Somebody else has swept up and made life extremely comfortable. Even with a vaccine tomorrow Covid will remain with us for some considerable time. Eradication , if it's possible of course, is going to be another challenge in itself. 

Since the last recession ended in 2009, the only people in the position you describe will be 11 or younger.

2009 was a financial recession. Didn't impact the broader economy. This time is very very different. Financially going to ripple into every nook and cranny.  As the days and weeks pass. 

talexuser

I've learnt that paying off the mortgage years ago was a good idea, and having enough in ISA, pensions and savings was also a good idea...... as long as the currency doesn't collapse! As long as Asda and Sainsbury deliver once a week we can survive quite happily. But survival is not the only factor in a fulfilled life, and not seeing the kids and grandkids for a long time is hard mentally, but not as hard physically as losing your job or business and not having enough money to live on or keep your house. 

Old_Lifer

I'm not looking forward to the next Budget when the day of reckoning arrives  but that is a concern for the future.    There are more pressing matters to be dealt with first.

DairyQueen

I've learned that Britain is a nation of two tribes: stoics and whingers.

iglad

Selling all my UK stocks last year and moving the bulk of my portfolio into USA and Asia funds, which was due to Brexit concerns but also helped me with the covid crash and recovery, a recovery which seems to taken place everywhere else apart form the UK. 

Bravepants

DairyQueen said:

I've learned that Britain is a nation of two tribes: stoics and whingers.

...and those who care and those who don't care about their fellow human beings.