muggle Posted February 8, 2011 Share Posted February 8, 2011 Happy BB day! The baby boom generation is 65 as the first were born nine months after VE DayToday is a big day for the baby boom generation born in the aftermath of the Second World War...as the first of them turns 65. Every day this year, around 1,800 people will mark the iconic birthday, which for many heralds their retirement. Those celebrating today will have been born on February 8, 1946, exactly nine months after Victory in Europe Day on May 8, 1945. In all, a record 658,000 people are celebrating their 65th birthday this year. And the numbers will grow still greater next year, with 806,000 people hitting 65. Many will enjoy generous pensions and own property bought decades ago which has soared in value. Steve Groves, chief executive of retirement experts Partnership, said: ‘They form part of a golden generation, many of whom have been fortunate enough to reap benefits that younger generations will not.’ Wail Be sure to leave your birthday messages in the comments section! Link to comment Share on other sites More sharing options...
Daft Boy Posted February 8, 2011 Share Posted February 8, 2011 Many single pensioners will exist on £200 a week . Not much of a future after 50 years of toil. Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted February 8, 2011 Share Posted February 8, 2011 Time for the masses cash in on "my property is my pension", hopefully lots of 3 bed+ places coming on to the market over the coming years as they try and cash in / or go senile and end up in retirement homes. Lots of good houses in nice area up for auction me thinks, might be a bit premature but certainly 5 years time looks good. There is light at the end of the tunnel. Link to comment Share on other sites More sharing options...
Conrad Posted February 8, 2011 Share Posted February 8, 2011 would love to see some demographic graphs on how many baby boomers over the next few years are reaching 65 years of age. Will many of them downsize? Not with prices stagnating or falling? Will they move to the coast or to other non productive areas of the country away from the SE? this is gonna have a big affect on the next few years. It appears to me that pensions are deliberatly being plundered to counter this wave of retirees conrad Link to comment Share on other sites More sharing options...
Bruce Banner Posted February 8, 2011 Share Posted February 8, 2011 Many single pensioners will exist on £200 a week . Not much of a future after 50 years of toil. I thought the basic state pension was about half that. Link to comment Share on other sites More sharing options...
Bruce Banner Posted February 8, 2011 Share Posted February 8, 2011 I think you get pension credit and housing benefit if you are on the basic pension which is under a 100 quid. Ah, so half the state pension is means tested . Link to comment Share on other sites More sharing options...
Riedquat Posted February 8, 2011 Share Posted February 8, 2011 would love to see some demographic graphs on how many baby boomers over the next few years are reaching 65 years of age. Will many of them downsize? Not with prices stagnating or falling? Will they move to the coast or to other non productive areas of the country away from the SE? this is gonna have a big affect on the next few years. It appears to me that pensions are deliberatly being plundered to counter this wave of retirees conrad If they've really been relying on their houses then they'll have to sell anyway, just to stay alive. They simply won't get the luxury retirement they were hoping for. Robbing the pensions of people still working will just delay that a bit. Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted February 8, 2011 Share Posted February 8, 2011 Many single pensioners will exist on £200 a week . Not much of a future after 50 years of toil. 10k a year mortgage free should be fine. Plus the usual discounts for wrinklies, I think they will be fine given that Mrs Fafa and myself exist on 20k a year after tax. Link to comment Share on other sites More sharing options...
AThirdWay Posted February 8, 2011 Share Posted February 8, 2011 Finances aside, when I think about the world that these people were born into, national service, no employment laws, fledgling health care etc. The majority of the improvements we have seen in those areas have stemmed from the boomer generation. We have a lot to be thankful for..... Link to comment Share on other sites More sharing options...
winkie Posted February 8, 2011 Share Posted February 8, 2011 10k a year mortgage free should be fine. Plus the usual discounts for wrinklies, I think they will be fine given that Mrs Fafa and myself exist on 20k a year after tax. £20k net per year is a comfortable income if you are mortgage free....and yes, you can and many do live on £10k net per year if mortgage free......how is that money going to support the economy, tax system and help off-spring get a leg onto the 'property ladder' I will never know. ....now looking to retire up to the age of 67, less final/average salary pensions, lower public pensions, many self employed or private sector workers without any pension of sort.... higher debt. http://www.youtube.com/watch?v=ohRbJJohv6Y Link to comment Share on other sites More sharing options...
'Bart' Posted February 8, 2011 Share Posted February 8, 2011 Peak spending ahead for the UK? Good job we don't have a consumer based economy. Link to comment Share on other sites More sharing options...
Si1 Posted February 9, 2011 Share Posted February 9, 2011 "But experts warn many ‘babyboomers’ will be left facing a bleak future due to their troubled personal finances with no savings, no pension but a large mortgage and other debts. In reality, many will celebrate their 65th birthday - but will not retire and will continue to keep on working due to the extreme financial pressure." thought so - once the magic democratic transition occurs in about 10-15 years time when the average voter will have been born AFTER 1975 then they're really gonna be in trouble Link to comment Share on other sites More sharing options...
PopGun Posted February 9, 2011 Share Posted February 9, 2011 "But experts warn many ‘babyboomers’ will be left facing a bleak future due to their troubled personal finances with no savings, no pension but a large mortgage and other debts. In reality, many will celebrate their 65th birthday - but will not retire and will continue to keep on working due to the extreme financial pressure." thought so - once the magic democratic transition occurs in about 10-15 years time when the average voter will have been born AFTER 1975 then they're really gonna be in trouble Will be 'interesting' to say the very least. I know circumstances can change (and prove cruel at times) but how on earth does anyone manage to acquire 65 years worth of wisdom, and still be playing the mortgage/debt game? Link to comment Share on other sites More sharing options...
Si1 Posted February 9, 2011 Share Posted February 9, 2011 Will be 'interesting' to say the very least. I know circumstances can change (and prove cruel at times) but how on earth does anyone manage to acquire 65 years worth of wisdom, and still be playing the mortgage/debt game? People are just sheep, they did because providence allowed them to get away with it for so long, I suspect we all would have done the same; in some ways the credit boom and crunch is a great lesson and preparation for those of us still in our 20s/30s Link to comment Share on other sites More sharing options...
fellow Posted February 9, 2011 Share Posted February 9, 2011 This should be on the main forum as it has massive implications for the housing market. The boomers will soon want to sell but the young have no jobs....... Link to comment Share on other sites More sharing options...
PopGun Posted February 10, 2011 Share Posted February 10, 2011 This should be on the main forum as it has massive implications for the housing market. The boomers will soon want to sell but the young have no jobs....... Average House Price: £85k Average Wage: £12k?? The last throw of the dice to avert the time bomb. The peasants can't revolt, without the leverage of jobs to strike from. Link to comment Share on other sites More sharing options...
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