Many people in their twenties & thirties now are going to be shafted in retirement!

[EternalOptimist]

Are you shacking up with Heidi during your dotage? She likes toblerone, and the odd mounting goat...

no no no. they have that place dont they ? dignitas or veritas or fatass or something.
or I might swim lake genva and get some special powers, did you ever see 'the champions'

[milanbenes]

They may "think" they will be working 'till they drop... but that assumes that they will be able to get work. It can be hard to get a decent job in your 20's/30's/40's nowadays. How are they going to get on finding work in their 60's/70's/80's ?

As I said... shafted!!

on top of this, there's something called peak earnings

it's the point in your life when you earn the most you have ever earn't and will ever earn


it seems that the point at which we hit peak earnings is coming down compared to the past



another good question for this thread along the same lines is how long until about what age do most of us think we will continue to make what we have become used to and at what age do we think it will start to drop down ?

Milan.

[Doggy Styles]

It appears that pensions are becoming more and more pointless. Too much of a gamble that it will be worth such a long period of investment.

Better to blow it all and fall back on the state if you live long enough to reach retirement age. Who knows what that age will be in another 20 or so years anyway. No guarantees you'll live to that age.

Besides, I'd rather enjoy my money while I'm relatively healthy than stash it away until I'm potentially too old and decrepit.

That sounds good when you are relatively young.

Butwhen you actually reach your fifties/sixties and have bugger all, I guarantee you won't be of the same opinion. I know people who have discovered this and it has f***ed them up.

[Churchill]

no no no. they have that place dont they ? dignitas or veritas or fatass or something.
or I might swim lake genva and get some special powers, did you ever see 'the champions'

It was a bit (admittedly only a little bit) before my time.

[SueEllen]

well, there's an easy way for them to see what lays ahead of them....

just go to the local Tesco's

everytime I come back to blighty, a trip to Tesco's shows the future...


on the tills, mid 50's ex middle management

it's the middle management scrap yard


that is why folks, us contractors we gotta make hay while the sun shines

and make sure less slips through our fingers than comes in

because, who knows how long we'll have this [TOOT][TOOT] .Net gravy train for

Milan.

Actually I know someone more mature who decided that working in Tescos was a much better job then the role he did previously in middle management as it was less stress and more enjoyable.

When he want for the interview he was competing against a few people who wanted to jack in more prestigious sounding jobs to work in Tescos.

I didn't believe him at first but one of my mates dads' chucked in a well paid IT job to go and work for Royal Mail driving a mail van years ago. The only reason his wife and ex-wife were annoyed with at the time is that he was suppose wait to be made redundant before doing that but he couldn't wait.

[BlasterBates]

Plenty of jobs around, they are sh*t jobs mind you, but there are plenty of them.

Like Milan Benes points out the young start off in middle management, work their way down into Tesco's on the tills, before finally ending up as car park attendants, and picking up the litter after Football matches.

What you are going to see in the future is retired people all living together sharing houses and flats, and topping up their pensions by selling football tickets and serving hotdogs.

[EternalOptimist]

That sounds good when you are relatively young.

Butwhen you actually reach your fifties/sixties and have bugger all, I guarantee you won't be of the same opinion. I know people who have discovered this and it has f***ed them up.

What is even worse - A guy who pays into his pension all his life, looking forward to a well earned retirement, then his company and pension scheme go belly up.
He cant get a job so his missus, a carer on near minimum wage, has to up her hours to try to make ends meet.
Then they get an increased council tax bill, so the council can pay for the increases in the council workers pensions.

[shaunbhoy]

I'm not a pensions expert, so this is just my humble opinion...

I reckon that a lot of people who are in their twenties and thirties now are going to get a very nasty shock when they reach retirement age only to find that they haven't saved anywhere near enough to get a decent retirement income.

No problem. People who are currently in their twenties and thrities will have their retirement age raised to 90, thereby eliminating the need for much of a pension pot. On top of that, we will have introduced voluntary euthenasia by then too, so nobody need worry.
My Plan B of organising "Booze, Snooze, and Death Dues" Cruises, during which the elderly can blow the last of their dwindling fortunes on a drink/drug fuelled orgy of Whist Drives and Sherry, is well on the way to fruition.
Just got to iron out whether or not it is fiscally more prudent to hoick the stiffs over the side into the Oggin, or mince them up for the next days' Hors D-oeuvres. Mmmmmmm

[AtW]

I think you may find they get shafted way before retirement.

[minestrone]

My bro is a Social Worker, just about to turn 50, he is being offered retirement with a lump sum of 50,000 and 14 grand a year. They are planning on fixing fancy new GPS tags to the neds so they no longer need him. Not bad really.