Wealth gap 'widest in 40 years'

[ChimpMaster]

Indeed, welcome to the benefit state.

Makes you wonder how they can 'afford' kids, let alone any pets.

[Charles Foster Kane]

Indeed, welcome to the benefit state.

Makes you wonder how they can 'afford' kids, let alone any pets.

Todd: Daddy, what do taxes pay for?
Ned: Oh, why, everything! Policemen, trees, sunshine! And lets not forget the
folks who just don't feel like working, God bless 'em!
-- "The Trouble With Trillions"

[Gibbon]

Indeed, welcome to the benefit state.

Makes you wonder how they can 'afford' kids, let alone any pets.

That's the rub, kids bring benefits lots, of them.

I've said this before but they will suffer when it comes to pension time as all they will get is the basic amount. Those who have worked and paid enough NI will get the higher amount which is quite a bit more. Also being hard working and sensible you will probably have a reasonable stash and can always release some dosh fro your house.

You'll be on your patio in a nicer part of the world and they'll be dodging druggies on council estates.

[Pondlife]

That's the rub, kids bring benefits lots, of them.

I've said this before but they will suffer when it comes to pension time as all they will get is the basic amount. Those who have worked and paid enough NI will get the higher amount which is quite a bit more. Also being hard working and sensible you will probably have a reasonable stash and can always release some dosh fro your house.

You'll be on your patio in a nicer part of the world and they'll be dodging druggies on council estates.

Assumming that your private pension pot is not redistributed in the interest of fairness.

[Euro-commuter]

Assumming that your private pension pot is not redistributed in the interest of fairness.

There will be a lot of demand for that. Those who rob Peter to pay Paul can count on Paul's vote.

[ASB]

That's the rub, kids bring benefits lots, of them.

I've said this before but they will suffer when it comes to pension time as all they will get is the basic amount. Those who have worked and paid enough NI will get the higher amount which is quite a bit more. Also being hard working and sensible you will probably have a reasonable stash and can always release some dosh fro your house.

You'll be on your patio in a nicer part of the world and they'll be dodging druggies on council estates.

Currently they'll get at least the minimum income guarantee. 119.05 single instead of 87.30 pension. You have to remember that with any private pension the first £31.75 of it is effectively taxed at 100%.

[Gibbon]

Assumming that your private pension pot is not redistributed in the interest of fairness.

I don't put my money into pensions, too restrictive. keep it more under your control and it's easier to keep it out of the fairness police. I know you get a tax break on the way in but you get taxed while it's in there and when it pays out.

Also you have some crook in a suit putting the odds in his favour that you will die before you use your money up.

[Jog On]

I'd consider myself rich if I didn't have to work

I agree. You can be financially free with passive income that covers your lifestyle.

To me being rich means not having to trade time for money and having income that keeps coming in even if I decide not to work.

A book I read recently comes up with a definition of the new rich who enjoy financial freedom - not necessarily masses of money but enough to live comfortably and time to enjoy it.

[gingerjedi]

I think we may be missing a point, the supposed poor by any standard are not worse off than they were 40 years ago and if they cant feed their kids its usually more to do with how they prioritise their/our money rather than not having any at all, I think the real gap is opening up because there are far more rich people than ever before... and we cant have that can we.

[lilelvis2000]

I'd consider myself rich if I didn't have to work

An interesting point. We probably at one time in our lives thought about winning the lottery and retiring. We then start earning large sums of money, probably enough that we only need work six month a year. But, we get used to the lifestyle and need to work the other six months otherwise we'd have to give it up. Affluenza.