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karhu

Pension Age Set To Rise In 2020

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I'm pretty much resigned to the fact that I'll never retire.

The next step is to find a profession that I want to do for the rest of my days and to stop deferring my enjoyment of life until the so-called "ship comes in".

WOW that's deep. B)

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I'm pretty much resigned to the fact that I'll never retire.

The next step is to find a profession that I want to do for the rest of my days and to stop deferring my enjoyment of life until the so-called "ship comes in".

Same here: I figured out a few years ago that I'd be working pretty much until I die. Which isn't a problem so long as it's an interesting job with OK pay and I'm able to take decent breaks when I want to.

Frankly, I think the end of the cult of retirement would be a good thing in many ways.

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The backlash against the generations above us should be starting now, of its own accord, in the form of young people not buying houses at ridiculous prices.

The younger generation can't be taxed on what they don't earn. On balance I would expect worsening public services and a sustained slump in property over the next decades. I don't see anyone warning the 45 year olds about this possibility though.

Maybe there is no incentive to pay into a pension plan at all, just to learn how to invest yourself, off-shore. Somewhere you'd like to retire to? Then you don't get crapped upon because your money is locked in some pension scheme or other.

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Imagine an FTB with £30,000 hard earned savings...

You would have to be fecking mad to take on a 20 year loan. What happens if rates get to 6, 7 or 8%

If you saved up £30,000 and rates changed to 6.5% where they roughly stayed for 9 years.

You would accrue £30,000 * 1.065%^9 years = £52,877.

I think this example is perfectly feasible.

Now if you had a 20 year mortgage during this time of £180,000,

Your monthly repayments would move from £1153 to £1361

Which over the 9 years equates to £123,524@4.5% or £146,988@6.5%

Costing an additional £23,464. Add to that what interest someone with a £30,000 deposit would have earned over the same period and such an indivdual would be £46,341 worse off for the rates moving after they bought! That is with an increase of just 2%, in the past they have seen double figures.

Are you willing to bet that much money that rates will not return to 6.5% a modest move in my book.

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I'm pretty much resigned to the fact that I'll never retire.

The next step is to find a profession that I want to do for the rest of my days and to stop deferring my enjoyment of life until the so-called "ship comes in".

WOW that's deep. B)

Sounds like you want to be a Landlord.....

Same here: I figured out a few years ago that I'd be working pretty much until I die. Which isn't a problem so long as it's an interesting job with OK pay and I'm able to take decent breaks when I want to.

Frankly, I think the end of the cult of retirement would be a good thing in many ways.

Another Landlord?

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Yeah, but zombies are immortal, aren't they? So they could buy a house any time they wanted, knowing full well that the 25 years they'd need to slave away to pay off a mortgage would just be a short blip to them.

Either that, or someone would shoot them in the head and they wouldn't care anymore.

Maybe zombie infestation will be the next tactic used to try to prop up house prices?

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I would have turned to show my ear in the photo, but its fallen off....... :(

Why dont you deal with some more serious issue of Swedish Interest rate in another thread ? Conveniently left out aha ?

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Why dont you deal with some more serious issue of Swedish Interest rate in another thread ? Conveniently left out aha ?

Yes, we're still waiting......

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I have said this before, I will say it again, and I will forever go on saying it - if we need to raise the pension age why not tomorrow? What is so special about 2020? If there is a crisis then act now, dont wait until all the boomers have retired and thus even worse for the rest of us.

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I have said this before, I will say it again, and I will forever go on saying it - if we need to raise the pension age why not tomorrow? What is so special about 2020? If there is a crisis then act now, dont wait until all the boomers have retired and thus even worse for the rest of us.

Within a 20 year time frame there is likely to be around 3 changes of government. Best to leave the other guys to deal with it. Anyway, I think they are hoping Bird Flu will resolve the problem for them!

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Same here: I figured out a few years ago that I'd be working pretty much until I die. Which isn't a problem so long as it's an interesting job with OK pay and I'm able to take decent breaks when I want to.

Frankly, I think the end of the cult of retirement would be a good thing in many ways.

yeah I'm not even sure that retirement is such a great thing. People who love their work don't tend to want to do it. Many people, after a life of hard graft,. get pensioned off and quickly deteriorate.

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yeah I'm not even sure that retirement is such a great thing. People who love their work don't tend to want to do it. Many people, after a life of hard graft,. get pensioned off and quickly deteriorate.

It seems to be a national obsession to make every sacrifice possible in our youth, material and spiritual, in order to obtain a little comfort in our dying years. What are we all so scared of.

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What are we all so scared of.

Living?

Retirement made some sense when people worked until their health was failing and then popped off a year or two later... it makes little sense today. Not that I'd carry on in my current job if I won a hundred million in the lottery, but I'd certainly find something productive to do rather than sit around watching TV until I stopped breathing.

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What makes you think the Tories will get back in power? They would if they had another Enoch Powell but Cameron is a wet joke.

For the record I hate men in grey suits. I don't believe that anyone wearing such attire should be allowed in this country (and particularly if it has any kind of pin stripe in the weave) for which reason I would never vote for David Cameron. Actually I would say he is quite dry, unlike Enoch whose hands are wet with "the River Tiber foaming with much blood". (foreboding my ahrse... with thanks to your mates at the National Front for supplying me with the quote. Gotta be good for something ;) )

And for that reason David Cameron is far more likely to win than your buddies. He will win either the next election or the one after for the reason that people like a change of government but they like to change to something they can relate to. MOST of the voters can find SOMETHING in common with his policies, and then it comes down to self interest. MOST voters don't spend most of their energy hating the colour of people suits.

For the record I also don't believe that he will make a ratsasse difference to the cost of housing. It is cyclic capitalism and it is out of his hands, but even if he could I wouldn't vote for him for the objective reasons outlined above.

Edited by Elizabeth

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yeah I'm not even sure that retirement is such a great thing. People who love their work don't tend to want to do it. Many people, after a life of hard graft,. get pensioned off and quickly deteriorate.

The person who loves their job is the luckiest in the world, IMO.

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  • 302 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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