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Very Sad Story, 55 And Washed Up


Redcellar
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....one is lack of forward planning combined with a lack of money....

Why waste 12k on an MBA from Nottingham? Pointless. MBA only worth it if you go to a top business school so you can use the network and the name. An MBA for anyone around the age of 50 is pretty pointless too. He is probably damaging his CV with that third tier MBA on it.

He says he has money from selling his house, so he would not be entitled to any benefits other than his national insurance being paid.

the whole thing points to lack of forward planning, and in turn not being cut out for management

is it just me but have most so called managers I have come across since the year 2000 been f*cking useless, this chap being a case in point, lacking basic management awareness

the MBA again points to general cluelessness

his large amount of spare cash should have been paid into a sensible pension vehicle so as not to affect his benefits, a long time ago, and he should have moved into a bedsit and done temp office work, even down to 3 days a week, enjoy his weekends, and take it easy until he retires

sounds like he had it and blew it

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Why waste 12k on an MBA from Nottingham? Pointless. MBA only worth it if you go to a top business school so you can use the network and the name. An MBA for anyone around the age of 50 is pretty pointless too.

Quite.

I'm surprised at the sympathy here, he sounds like a complete & utter fool to me - MBAs are nigh on useless, always have been, always will be - if he's so 'clever' why didn't he invest that money in starting a business or try something similar now? I know I'll get whacked for this but he strikes me as a total nobber ...

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One thing that puzzles me, I hope i didn't hear it incorrectly, he said he was forced out of his house, he even contemplated burning it down had it not been for his friendly neighbours, it sounds to me like he never sold it because you wouldn't feel the urge to burn a house down that you were selling?

It sounds more like he was repo'd, so where has the money actually come from that he mentions?

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the whole thing points to lack of forward planning, and in turn not being cut out for management

is it just me but have most so called managers I have come across since the year 2000 been f*cking useless, this chap being a case in point, lacking basic management awareness

the MBA again points to general cluelessness

his large amount of spare cash should have been paid into a sensible pension vehicle so as not to affect his benefits, a long time ago, and he should have moved into a bedsit and done temp office work, even down to 3 days a week, enjoy his weekends, and take it easy until he retires

sounds like he had it and blew it

Yep, that's me. 16 hours a week and cruising towards retirement. Can't get benefits because the wife works though.....

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Quite.

I'm surprised at the sympathy here, he sounds like a complete & utter fool to me - MBAs are nigh on useless, always have been, always will be - if he's so 'clever' why didn't he invest that money in starting a business or try something similar now? I know I'll get whacked for this but he strikes me as a total nobber ...

an MBA strikes me as a qual you have to have for some jobs, or that helps a lot, so much that if they WANT you for a given job and you haven't got the MBA then you should think about getting one, but on its own, if you aren't the right person, then it is a waste

yep, sounds like a plank

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is it just me but have most so called managers I have come across since the year 2000 been f*cking useless, this chap being a case in point, lacking basic management awareness

Not just you but many, I work 2 days a week in an old folks home, we have a manager that defies belief.

Lazy, incompetent, inefficient, bad time keeping and not very bright, along with slovenliness. He is able to quote procedures.

Our staff need leadership and all they get is "management".

It comes to something when you have a 17 old volunteer who ask "Is he all there"

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Great find.

As I listened, I felt sure the citizens income would have helped him, directly through the income itself, but also indirectly through the lower overall tax burden making it easier for entrepreneurs to create opportunities.

Anyone could be him at age 55. We need ways of providing real hope, not cheap political promises.

Not so much a find. I woke up at 5:45 and heard this guy. It's the first time in a long while I've really felt moved and maybe a little scared too.

Absolute sympathy. The sad thing is this was buried away at 5:45 am. This should be mainstream media, the real world.

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this is it.that mopeny he spunked on an MBA couyld have been used to get a qual in the trades that's worth having.

quite.there's an arrogance about him wanting to do soemthing that suits his assessment of his own intelligence.Ive met lots of bright people doing sh1t jobs.feel sorry for anyone who cant work but wants to,unless they want to be a manager.

repoed and then they gave him the change.

bank did him a favour.if that was me,I'd buy somewhere for cash in some cheap part of the world and sign on.

Have you tried getting 'a shit job'? They ask what qualifications and experience you have. And when 100 people are chasing the same job, why would they give it to someone overqualified? They don't. And that's the real world.

Self employment is often the only route out, and that is not easy and not guaranteed success.

Listen to what he says. He is trying to work and not claim benefits. Yet people on here criticise that. They even criticise him getting education with his own money. At least it was his own cash and he's tried to better himself and wants to contribute. Rather than demand a council house and benefits. Please think about that rather than slagging him off.

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In reality, people rarely have a life plan, opportunities come and go, sometimes we make the wrong choice or as seems to be happening to his generation opportunities seem to be drying up.

Whatever you think of an MBA, he probably went into it as self-improvement or a chance to enhance his career appeal. Little doubt that he's been adding skills as he went along (e.g., the DVDs).

I think it's very sad that the structural changes in the economy mean that many otherwise perfectly employable people find themselves on the scrapheap. Older people applying for hundreds of jobs are not being rejected because are no good, but arbitrary decision are being made - how many 50+ job applications end up straight in the bin?

The whole question of unemployment/underemployment needs a radical rethink. Too much supply not enough demand, we need something more than the typical political rhetoric that denies economic reality.

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In reality, people rarely have a life plan, opportunities come and go, sometimes we make the wrong choice or as seems to be happening to his generation opportunities seem to be drying up.

Whatever you think of an MBA, he probably went into it as self-improvement or a chance to enhance his career appeal. Little doubt that he's been adding skills as he went along (e.g., the DVDs).

I think it's very sad that the structural changes in the economy mean that many otherwise perfectly employable people find themselves on the scrapheap. Older people applying for hundreds of jobs are not being rejected because are no good, but arbitrary decision are being made - how many 50+ job applications end up straight in the bin?

The whole question of unemployment/underemployment needs a radical rethink. Too much supply not enough demand, we need something more than the typical political rhetoric that denies economic reality.

+1

There is no plan for this country. The service sector is going overseas, we have no manufacturing. If consumption were a job then we would be world leaders and millionaires, but it isn't.

Seriously. Someone please tell me the strategy for what this country is going to do in a global economy? Other than financial services I see nothing.

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Have you tried getting 'a shit job'? They ask what qualifications and experience you have. And when 100 people are chasing the same job, why would they give it to someone overqualified? They don't. And that's the real world.

Self employment is often the only route out, and that is not easy and not guaranteed success.

Listen to what he says. He is trying to work and not claim benefits. Yet people on here criticise that. They even criticise him getting education with his own money. At least it was his own cash and he's tried to better himself and wants to contribute. Rather than demand a council house and benefits. Please think about that rather than slagging him off.

temping work is not that hard to get hold of thru an agency

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temping work is not that hard to get hold of thru an agency

Really. Last time I tried they were quite fussy about what they wanted. And temp jobs were not as common as I perceived.

Temp jobs still want the right experience and they still have the 1000's of out of uni kids and 20 year olds to pick from.

I also know first hand of being promised work but never receiving any through them. All lies and false promises of work.

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In reality, people rarely have a life plan, opportunities come and go, sometimes we make the wrong choice or as seems to be happening to his generation opportunities seem to be drying up.

Whatever you think of an MBA, he probably went into it as self-improvement or a chance to enhance his career appeal. Little doubt that he's been adding skills as he went along (e.g., the DVDs).

I think it's very sad that the structural changes in the economy mean that many otherwise perfectly employable people find themselves on the scrapheap. Older people applying for hundreds of jobs are not being rejected because are no good, but arbitrary decision are being made - how many 50+ job applications end up straight in the bin?

The whole question of unemployment/underemployment needs a radical rethink. Too much supply not enough demand, we need something more than the typical political rhetoric that denies economic reality.

I actually think there are alot of people who have a life plan, they just tend to be pretty short sighted, experience and learning from mistakes is a very valuable lesson in life, at 27 i personally had a massive life crisis, didn't work for nearly 3 years, 22 years later i'm semi retired at 52 working 3 days a week, I planned, sacrificed, saved, succeeded.

I also believe that self pity is a major fault in alot of personalities, having a positive attitude to everything i do served me well, I'm not saying it works for everyone, but it did for me. Feel free to flame me but people like the guy on the radio is a sad story, we're all wanting cheaper houses, he's just part of that process, life is a bitch, i know, i've been down there.

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Wow, three pages in and still no post from aa3. This stuff is absolutely his element!

I'm still not clear how this guy has been able to live for ten years (as he seems to indicate somewhere) almost entirely off money from his former house (let alone a part of its sale price if he got repo'd instead).

Another thing I didn't spot was any reference to tax credits. Is he implying that he doesn't work 16 hours a week in all the bits he does?

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His reasons for not claiming benefits sounded like bull, probably more to do with his state of mind rather than a good reason. Having paid in for years he has 10000 times more entitlement to them than many.

There are not any benefits for single self employed people, apart from unemployment benefit and that means giving up anything that gives him some sense of purpose and identity...his small earning capacity. He needs to work 30 hours a week to be paid tax credits and if he is earning a sixth of the average wage I doubt very much he can claim he works that many hours and even if he did, tax credits for single people are not much..

edit to add....Qetesuesi said : Is he implying that he doesn't work 16 hours a week in all the bits he does?

If you are single you have to work 30 hours to claim..

Edited by GinAndPlatonic
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In reality, people rarely have a life plan, opportunities come and go, sometimes we make the wrong choice or as seems to be happening to his generation opportunities seem to be drying up.

Luck, chance and timing. Once people can see the skills shortage and direction of the economy and start retraining in response the ship's already left port with the lucky few who happened to have been around when it set off. They will be the ones benefiting as they are the ones with the better developed skill set and experience.

Edited by rented
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There are not any benefits for single self employed people, apart from unemployment benefit and that means giving up anything that gives him some sense of purpose and identity...his small earning capacity. He needs to work 30 hours a week to be paid tax credits and if he is earning a sixth of the average wage I doubt very much he can claim he works that many hours and even if he did, tax credits for single people are not much..

edit to add....Qetesuesi said : Is he implying that he doesn't work 16 hours a week in all the bits he does?

If you are single you have to work 30 hours to claim..

He would have to sign on and get JSA for at least six months to qualify.

Have to work at least 16 hours a week, post 50.

His first years tax credit income would be determined by his previous years earnings.

Edited by "Steed"
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He would have to sign on and get JSA for at least six months to qualify.

Have to work at least 16 hours a week, post 50.

His first years tax credit income would be determined by his previous years earnings.

30 hours if you are single. check it out...unless you are married with a child, and even then its going up from 16 to 24 hours post April 2012.

HMRC website :If you are not responsible for at least one child

You - or your partner if you've got one - will need to work at least:

30 hours a week

16 hours a week - if you're aged 60 or over, or you're entitled to the 'disability element' of Working Tax Credit

Edited by GinAndPlatonic
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no, if he signed on he would additionally have to declare any other work (paid or unpaid) which would affect hios benefit entitlement, there is no law sayign you cannot work whilst claiming, you just have to declare your work

There is a law that says you cannot work while claiming- so you would need to stop claiming and then, once that work ended start the claim process all over again, which is quite a complex procedure. This may not be a problem if the work involved lasts a while, but if you are doing scraps here, then a gap, then another scrap, then a gap ect ect you would end up spending most of your time in the benefits office doing paperwork instead of either working or looking for work.

We need a smarter system- one that reflects the fragmentary nature of employment. I think a negative income tax idea might be the way to go- some system where rather than a binary benefit on/benefit off set up you would have a sliding scale in which the benefits and the tax systems were blended and your income was a variable of both depending on where you were on the income scale.

This implies a slick real time tax/benefit system but hey- we do live in the age of the computer- surely it's not beyond our wit to create such a system.

The current set up either provokes people into working without signing off- due to the sheer hassle- or it causes them to turn down small amounts of work that might- in time- have led to more work.

The problem with the benefits system is that it can't decide if it's in the helping people business or the enforcement business- so it tries to do both and fails at doing either well.

Edited by wonderpup
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30 hours if you are single. check it out...unless you are married with a child, and even then its going up from 16 to 24 hours post April 2012.

HMRC website :If you are not responsible for at least one child

You - or your partner if you've got one - will need to work at least:

30 hours a week

16 hours a week - if you're aged 60 or over, or you're entitled to the 'disability element' of Working Tax Credit

http://www.hmrc.gov.uk/taxcredits/start/who-qualifies/workingtaxcredit/over50s.htm

To qualify for the 50-plus element you must be:
  • starting work straight after coming off certain benefits
  • aged 50 or over on the day you start work
  • working for at least 16 hours a week or more

You must have been on benefits for at least six months. If you were on and off benefits for short periods, you may still get the 50-plus element if:

  • the gap between each period was no more than 12 weeks
  • the total time you were on certain benefits adds up to at least six months

It's worth knowing that the 50-plus element is ending from 6 April 2012.

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Very true but he doesnt want to stop earning the little he does for his own self esteem...he would have to stop working for 6 months

AND HMRC ...It's worth knowing that the 50-plus element is ending from 6 April 2012. !!

Edited by GinAndPlatonic
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This implies a slick real time tax/benefit system but hey- we do live in the age of the computer- surely it's not beyond our wit to create such a system.

The current set up either provokes people into working without signing off- due to the sheer hassle- or it causes them to turn down small amounts of work that might- in time- have led to more work.

The problem with the benefits system is that it can't decide if it's in the helping people business or the enforcement business- so it tries to do both and fails at doing either well.

This is so true...the system for this guy works against him...

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I'm a few years away from 55 and from time to time I think about this age as being significant because, in my humble opinion, this is the age you need to have sorted out a great deal of your life.

First and foremost you have to be debt-free and own a property, then your outgoings are significantly reduced, you need to have enough savings to last you 6 months to 1 year and you need to be able to survive without a car and be ready to live frugally. This might sound a bit sad but I have 'practice runs' a couple of weeks of not going out, not drinking, shopping at Lidl to see how much I need to live on.

I say all this because I work in IT, an industry that is notoriously ageist, I was asked in an interview did I have a problem working with people in their 20s because none of the team are over 30, I didn't get the job.

A neighbour of mine got divorced, they sold their house, he was 55 and I said to him "at least you have a bit of equity in the house", err no, his share was £10,000, they had MEW'd and not really thought about the consequences.

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