What is the best age to be in 2012 financially?
Poll: What is the best age to be in 2012 financially?
Total Members Polled: 233
Discussion
...70 according to the report at the link below. Which is news to me but then I'm not 70.
Worst age is 45, according to the author. Maybe 20-something grads with student loan repayments and house price woes would disagree.
http://www.babusinesslife.com/Tools/Features/Inter...
Worst age is 45, according to the author. Maybe 20-something grads with student loan repayments and house price woes would disagree.
http://www.babusinesslife.com/Tools/Features/Inter...
40s id guess. Last time houses were affordable was when they were buying. Now they get low mortgages on top.
Plus still a while to retirement so dont have to worry about low annuity rates and all that just yet.
Them and really old people, who will probably die before the NHS, state and public sector pensions collapse and will have already taken out an annuity with decent rates. (and have worked mostly during the longest economic expansion in history and enjoyed low energy costs)
Plus still a while to retirement so dont have to worry about low annuity rates and all that just yet.
Them and really old people, who will probably die before the NHS, state and public sector pensions collapse and will have already taken out an annuity with decent rates. (and have worked mostly during the longest economic expansion in history and enjoyed low energy costs)
I think people starting their 20s now have rough years ahead of them. Their grandparents of the baby boom years had it all - final salary pensions, free university education, 'jobs for life' and plenty of other things like extra entitlements on driving licences, the fact it was easier to get normal work when they left school and that generally they started their life in a more simple world.
Not just them, my father is only 53 and told me his parents paid £500 for their house, the first house he lived in. He tells me about how his yearly wage near the end of the 70s was 2k a year and could afford to pay bills, be down the pub every night, he owned two cars, a motorbike and a weeks worth of petrol was £5 at most.
People starting their lives today live in a world of monumental house prices, soaring energy costs, carbon credits and EU emissions laws, incompetent idealistic Governments, the prospect of working far into their old age if they can ever get a job at all in the hardest job market known for many years. They're starting in a working world which demands more and gives less than it once did and generally far more hoops to jump through in life - all of them expensive hoops which do nothing but fill the wallets of bureaucrats, nonsense which largely didnt exist 30-40 years ago. Although the recent fascinating BBC2 show 'The 70s' shows people had their own set of problems then, especially in the early 70s.
All things considered though, I dont envy anybody leaving school this year.
Not just them, my father is only 53 and told me his parents paid £500 for their house, the first house he lived in. He tells me about how his yearly wage near the end of the 70s was 2k a year and could afford to pay bills, be down the pub every night, he owned two cars, a motorbike and a weeks worth of petrol was £5 at most.
People starting their lives today live in a world of monumental house prices, soaring energy costs, carbon credits and EU emissions laws, incompetent idealistic Governments, the prospect of working far into their old age if they can ever get a job at all in the hardest job market known for many years. They're starting in a working world which demands more and gives less than it once did and generally far more hoops to jump through in life - all of them expensive hoops which do nothing but fill the wallets of bureaucrats, nonsense which largely didnt exist 30-40 years ago. Although the recent fascinating BBC2 show 'The 70s' shows people had their own set of problems then, especially in the early 70s.
All things considered though, I dont envy anybody leaving school this year.
Sure there are boom times are then harder times.
There are winners and losers in all economic cycles.
The other thing we may think we're having it hard and suffering austerity.... Um no were not we may think its austerity from what we are used to and feel poorer and some feel really poor. But that is nothing compared to the savage poverty the real poor in this work where there is no welfare system you do back breaking filthy work all day every day and if your lucky you might have enough to buy a portion of rice just enough to fill you up. Literally hand to mouth. If you feel sick ... You don't eat instead these people man the f
k up and work to feed their family. They live in utter filth squallar however their work ethic pride and family unity is epic.
They have it hard really hard. They have no pension not even state pension so they work until they die they work so har to try to get their kids to have an education so that they do not have to do this sort of work.
It makes me furious when people complain oh poor me pour me another. Get real noone in the uk knows what real poverty is they may think they are but my god they are like millionaires to the genuine poor.
Would anyone here work 18 hours a day 7 days a week every week to get enough money to buy plain rice for you your spouse and kid/s that's it. Sleeping in a shack no money for healthcare nothing.
I would readily employ those people vs any of our British on welfare for generations.
There are winners and losers in all economic cycles.
The other thing we may think we're having it hard and suffering austerity.... Um no were not we may think its austerity from what we are used to and feel poorer and some feel really poor. But that is nothing compared to the savage poverty the real poor in this work where there is no welfare system you do back breaking filthy work all day every day and if your lucky you might have enough to buy a portion of rice just enough to fill you up. Literally hand to mouth. If you feel sick ... You don't eat instead these people man the f
k up and work to feed their family. They live in utter filth squallar however their work ethic pride and family unity is epic. They have it hard really hard. They have no pension not even state pension so they work until they die they work so har to try to get their kids to have an education so that they do not have to do this sort of work.
It makes me furious when people complain oh poor me pour me another. Get real noone in the uk knows what real poverty is they may think they are but my god they are like millionaires to the genuine poor.
Would anyone here work 18 hours a day 7 days a week every week to get enough money to buy plain rice for you your spouse and kid/s that's it. Sleeping in a shack no money for healthcare nothing.
I would readily employ those people vs any of our British on welfare for generations.
Welshbeef of course poverty here doesnt compare to the slums of Africa but the point is its all relative. People in Africa dont hand over £600billion to their Government in tax every year either.
A first world developed supposedly civilised country should not judge itself on third world standards, and doesnt.
A first world developed supposedly civilised country should not judge itself on third world standards, and doesnt.
martin84 said:
Welshbeef of course poverty here doesnt compare to the slums of Africa but the point is its all relative. People in Africa dont hand over £600billion to their Government in tax every year either.
A first world developed supposedly civilised country should not judge itself on third world standards, and doesnt.
In which case why does the USA treat its unemployed just like the 3rd world country? There is no welfare state so if your unemployed sorry it's hard luck there is no GIRO or benefits. So we need to cut out all benefitsA first world developed supposedly civilised country should not judge itself on third world standards, and doesnt.
I'm rather surprised at the poll results!
My parents are 72 and 68, and they have a stunning standard of living. Nice big house in Somerset, holiday home in France, final salary pension scheme etc, etc, etc. I have ended up by pure coincidence working for the same big company for whom he worked most of his career. Final salary pension schemes are gone, as are most of the other benefits he experienced. They even made a profit out of the act of moving house every time we moved! No relocation allowances these days, but then relocation isn't really necessary in the internet era.
Knowing what grade he was and the type of job he was doing, there's absolutely no way that he would be able to achieve anything like the same level of retirement that he currently has if he was in his early 40s like me.
I'm the first to admit that I'm crap with money, and having three small kids and a non-working wife doesn't help! We'll still muddle through though, especially when my wife starts working again once the youngest is into school full time, but the golden years are definitely in the past.
I would think the second sttest outlook at the moment is for the late teens and early twenties. sttest of all, though, surely has to be people in their late 50s to late 60s who didn't have final salary pensions, and are either facing the prospect of, or already have cashed in their pensions for the worst annuity rates we've probably ever seen.
At least for my kids there's the chance that things will have worked themselves out for the better by the time they go looking for work.
My parents are 72 and 68, and they have a stunning standard of living. Nice big house in Somerset, holiday home in France, final salary pension scheme etc, etc, etc. I have ended up by pure coincidence working for the same big company for whom he worked most of his career. Final salary pension schemes are gone, as are most of the other benefits he experienced. They even made a profit out of the act of moving house every time we moved! No relocation allowances these days, but then relocation isn't really necessary in the internet era.
Knowing what grade he was and the type of job he was doing, there's absolutely no way that he would be able to achieve anything like the same level of retirement that he currently has if he was in his early 40s like me.
I'm the first to admit that I'm crap with money, and having three small kids and a non-working wife doesn't help! We'll still muddle through though, especially when my wife starts working again once the youngest is into school full time, but the golden years are definitely in the past.
I would think the second s
ttest outlook at the moment is for the late teens and early twenties. sttest of all, though, surely has to be people in their late 50s to late 60s who didn't have final salary pensions, and are either facing the prospect of, or already have cashed in their pensions for the worst annuity rates we've probably ever seen.At least for my kids there's the chance that things will have worked themselves out for the better by the time they go looking for work.
Welshbeef said:
In which case why does the USA treat its unemployed just like the 3rd world country? There is no welfare state so if your unemployed sorry it's hard luck there is no GIRO or benefits. So we need to cut out all benefits
Because the United States is not a civilised country and The American Dream is the best sold myth of all time.Kermit power said:
I'm rather surprised at the poll results!
I agree with everything you say. Those professionals I know who retired prior to 2008 have fantastic lifestyles, and the benefits of modern healthcare. Even though many had single incomes, wives stayed at home looking after the house & children, they were often able to retire 5 or 10 years early with final-salary pensions. The poll results are very very strange, unless people are missing the 'financial' bit from the question.Im 19 and aren't doing to badly mainly due from working since i was 16 and saving aswel but i haven't my own house so no real expenses to pay out apart from paying for living with my parent. Im even started building a kit car and already own another so i can't complain.
I have several friends who haven't gone on to education and went into apprenterships 2 went to british gas and are on over 20k a year. A few including me who went into motor vehicle are in their final years and are on around 8-10k a year. Next year will go up to 15k.
So for the teenage secter thoese that have a trade behind them are doing well, i was chatting to a mate who is doing a degree in architecture which is 3 years by the time he leaves i would earn 45-50k and he would be 20k+ in debt.
I have several friends who haven't gone on to education and went into apprenterships 2 went to british gas and are on over 20k a year. A few including me who went into motor vehicle are in their final years and are on around 8-10k a year. Next year will go up to 15k.
So for the teenage secter thoese that have a trade behind them are doing well, i was chatting to a mate who is doing a degree in architecture which is 3 years by the time he leaves i would earn 45-50k and he would be 20k+ in debt.
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff