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Culpability Brown

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The pensions crisis is going to dwarf this House Price Crash in terms of it's social implications.

From This is Money: -

Middle-aged fritter away retirement cash

Michael Clarke, This is Money

27 August 2005

PEOPLE in their middle age are risking poverty in retirement by preferring to spend their cash now rather than set it aside for later in life.

Nearly a third of people in their 40s and 50s said that enjoying their money now is a greater priority than investing for their future.

Four out of 10 people aged between 45 and 55 admitted that they had no other investments other than their residential property, a situation a quarter of over 55s also found themselves in.

In fact 59% of people aged between 45 and 54 admitted they don't currently use any of their monthly salary to invest for their future.

According to research from fund managers Insight Investment the majority of these people are preferring to spend money than leave an inheritance for their children.

Gordon Phillips, head of retail at Insight Investment, said: 'It appears that this carpe diem complex means that many of those in their forties and fifties are reluctant to fast forward to their financial future, clearly preferring to make the most of any spare money now.'

He warned that people relying on releasing equity in their homes to bail them out of retirement misery were adopting a risky attitude as there is no guarantee that property values will rise in line with inflation.

He said: 'Whilst some may be hoping that their property or the state pension will bail them out in old age, many may not realise that making even small regular investments from their monthly pay packet can mean they are not left in the financial slow lane, now or in their old age.'

Edited by Culpability Brown

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The money that was saved as a nation has been slowly bled out. There will be a reversal at some point and people will start saving. Sometimes it takes a nasty shock to get it through the thick skulls that are out there.

F*ck um , each and everyone of them, look after yourself, family and friends. Watch everyone else go to the wall, dont laugh at them but show them no pitty either.

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Yes Chuz but don't tell THEM that!

If you do they will just figure out new ways to tax you.

When the yougov poll drops into your inbox and asks you about saving for retirement just tick all the "no" boxes. Tee hee!

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I think a fundamental problem we have in the UK, and many people are now realising this, is that no matter how long and hard you work for you simply will not be abe to put aside enough money for any kind of decent retirement.

People look att he elderlyo f today and how badly they are treated, how badly their health care is and think that as the same is going to happen to them then why not enjoy life now.

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I think a fundamental problem we have in the UK, and many people are now realising this, is that no matter how long and hard you work for you simply will not be abe to put aside enough money for any kind of decent retirement.

People look att he elderlyo f today and how badly they are treated, how badly their health care is and think that as the same is going to happen to them then why not enjoy life now.

I took a year out TMT and am in my mid thirties.

I recommend it.

You can de-programme yourself, unwind and enjoy yourself ready for the next challenge.

I start work again in October and am looking forward to it.

Life is too short to stay on the treadmill continuously.

But we do have options if we choose to use them.

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The unfortunate truth is where I rejoice in my ability to pay taxes to enable those who sincerely are unable to work to enjoy life, there is a problem.

The problem is that (very unfortunately) if the standard handed out is too high then there are many others who will take advantage and expect me to look after them also. Ultimately there are only a few or us with high taxes working and we no longer have a decent life ourselves.

Hence, unfortunately, the benefits from the state, which has a very poor record of being able to evaluate who does of does not require benefits, must be limited to providing only an aqequate lifestyle. That is one where the beneficieries cannot afford luxuries like smoking or drinking, as I cannot.

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I took a year out TMT and am in my mid thirties.

I recommend it.

You can de-programme yourself, unwind and enjoy yourself ready for the next challenge.

I start work again in October and am looking forward to it.

Life is too short to stay on the treadmill continuously.

But we do have options if we choose to use them.

I am now 12 months out of work due to ill health as a result of working too long, too hard and trying to make as much money as possible to try and keep up a chance of buying a home.

It made me very ill. It will be another 6 months before I am well again and then, well, I think I will take time out to enjoy life.

I got thrown off the treadmill - and am thankful for it - although I wish I had the commonsense to step off by myself much earlier.

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Guest Charlie The Tramp

Worked hard all my life and always saved for that rainy day, never went without but always saved for something I wanted. In 1980 I accepted voluntary redundancy, lucky enough to be able to pay off a newly taken out mortgage. Used the monthly repayments to re-invest.

Result early retirement, comfortable living, and a clear conscience at not having to live off handouts. BTW still pay tax and NI contributions. <_<

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I am now 12 months out of work due to ill health as a result of working too long, too hard and trying to make as much money as possible to try and keep up a chance of buying a home.

It made me very ill. It will be another 6 months before I am well again and then, well, I think I will take time out to enjoy life.

I got thrown off the treadmill - and am thankful for it - although I wish I had the commonsense to step off by myself much earlier.

Don't worry TMT. It happens to the best of us.

Take your time. It will work itself out.

Life is not a sprint after all.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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