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Lots of people I know retiring, taking early retirement


shlomo

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HOLA441
5 hours ago, shlomo said:

I have come across lots of people in my peer group who are taking early retirement, most of these people are in their 50s, selling up in an London for an obscene amount and moving to northern cities and towns, a lot of these people are in dead end jobs like bus drivers or hospital maintenance, people selling up for £1m to £600k

Any one else coming across this phenomenon 

I haven't seen people going that far. More like selling up in London and moving out to Herts/beds/bucks/cambs/norfolk/northants/etc

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HOLA442
2 hours ago, msi said:

Disingenuous to suggest the drop in Live Births in 70s is due to Abortion Act, that was also the time of introduction of the Contraceptive pill and Women's direct access to Birth control and Family Planning.

Yes it's a bit weird and political/judgemental, not sure why the ONS felt the need to add that label.

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HOLA443
3 hours ago, Dorkins said:

Should be a lot of retirements coming over the next 10-15 years as the late 1950s-1960s baby boom works its way through. Everybody born up to about 1955 has already hit state pension age I believe:

image.png.4157c77207ed9aae8258ff759e1e1962.png

 

GenX will be hugely in demand.

Strangely, I'm seeing this already.

In the past in tech you got to late 40s and that was kind of it, unless you were the old git chain smoking in the server room keeping the Vax running. Most firms wanted younger recruits.

Now I'm seeing the boomers retire (youngest being about 55/56) and firms seem keener to higher people up to 55 now if they can.

I think the tranche of middle aged experienced workers is narrowing sharply as GenX moves up. And a lot of bosses are worried by some of the more peculiar stereotyped millennial ideas.

I think this is a give away:

image.jpeg.6ff1e201b11f3fa9ba9da73754578fff.jpeg

 

This shows the GenX/early millennials cohort is a good 2m or so light compared to the boomers, and that's not allowing for some middle age boomer deaths.

They might get some relief from mid/late millennials born closer to Y2K, but then after  that things get really stuffed as the birth rate seems to have collapsed since the year 2000.

 

 

 

 

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HOLA444
1 hour ago, Insane said:

 

I remember the early 80's when unemployment hit 3million and they introduced all the £25 a week rip off schemes ( cannot remember the name they used for the first ones) I was in a dead end job and struggled to find anything better , until I hit the jackpot in 1985 the best years I've known were 1985 - 2006 but that was me personally . I don't judge the whole work force on my own experiences.

Wasn't this YTS - Youth Training Scheme

aka

Your Ticket to Slavery

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HOLA445
3 minutes ago, Mikhail Liebenstein said:

Wasn't this YTS - Youth Training Scheme

aka

Your Ticket to Slavery

That's the one !!!

Six months Training the Government stumped up the £25 , with the view of getting a job at the end , problem was many firms got rid at the end of the six months and got another one in. 

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HOLA447
8 hours ago, shlomo said:

I have come across lots of people in my peer group who are taking early retirement, most of these people are in their 50s, selling up in an London for an obscene amount and moving to northern cities and towns, a lot of these people are in dead end jobs like bus drivers or hospital maintenance, people selling up for £1m to £600k

Any one else coming across this phenomenon 

How many of those you know taking early retirement are renters? 

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HOLA449
21 minutes ago, MonsieurCopperCrutch said:

Dunno. I went to a Russell Group University. 

Is that one from the original 10, or the new extended list of 24?

PS - I did too!

I happen to recall studying the YTS as a Government Policy during Economics lessons.

Edited by Mikhail Liebenstein
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HOLA4410
6 minutes ago, Mikhail Liebenstein said:

Is that one from the original 10, or the new extended list of 24?

PS - I did too!

I happen to recall studying the YTS as a Government Policy during Economics lessons.

Really you studied YTS policy? We focused on Austrian and Keynesian schools of thought.  

Yes original 10. I left home and went to uni in 1991. 

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HOLA4411
47 minutes ago, MonsieurCopperCrutch said:

How many of those you know taking early retirement are renters? 

None

It does not work if you are a renter.

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HOLA4412
10 hours ago, shlomo said:

I have come across lots of people in my peer group who are taking early retirement, most of these people are in their 50s, selling up in an London for an obscene amount and moving to northern cities and towns, a lot of these people are in dead end jobs like bus drivers or hospital maintenance, people selling up for £1m to £600k

Any one else coming across this phenomenon 

Me........... Semi retired, early 50's, worth 7 figures, no need to sell £600k house, but that is a Crypto story, not a housing one (Took only 8 years to become a millionaire). 

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HOLA4413

Interesting to observe that the tendency of some posters to punch down increases when their investment portfolio is doing well. There are honourable exceptions though e.g. byron78 who appears to be sympathetic to asset-poor people despite his comfortable position.

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HOLA4414
9 minutes ago, Dorkins said:

Interesting to observe that the tendency of some posters to punch down increases when their investment portfolio is doing well. There are honourable exceptions though e.g. byron78 who appears to be sympathetic to asset-poor people despite his comfortable position.

What does punch down increases mean? 

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HOLA4415
2 hours ago, MonsieurCopperCrutch said:

Really you studied YTS policy? We focused on Austrian and Keynesian schools of thought.  

Yes original 10. I left home and went to uni in 1991. 

Of course we covered Austrian theory and Keynesianism too.  But there was a mix of theory and empirical work, hence the YTS. I also did a bit of work on land theory.

But of course being post 80s there was plenty of von Mises, Friedmen and Hayek.

I've still got my copy of Lipsey at home.

 

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HOLA4416
1 hour ago, markyh said:

Me........... Semi retired, early 50's, worth 7 figures, no need to sell £600k house, but that is a Crypto story, not a housing one (Took only 8 years to become a millionaire). 

I'm worth over £3m in my 40s, but that is housing, stocks and a well paid job.

No need to retire yet either, I'm fit as a fiddle that been on a boot camp, and can still absorb and apply new information with ease. I might actually do a PhD when I retire.

Edited by Mikhail Liebenstein
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HOLA4418
11 minutes ago, Mikhail Liebenstein said:

Of course we covered Austrian theory and Keynesianism too.  

 

Worth reading:

https://news.ycombinator.com/item?id=17248065

https://economistsview.typepad.com/economistsview/2006/01/milton_friedman.html

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HOLA4419
12 minutes ago, Mikhail Liebenstein said:

Of course we covered Austrian theory and Keynesianism too.  But there was a mix of theory and empirical work, hence the YTS. I also did a bit of work on land theory.

But of course being post 80s there was plenty of von Mises, Friedmen and Hayek.

I've still got my copy of Lipsey at home.

 

Good Lord. Whatever did your professors imagine that you'd learn about economics from the YTS scheme? Please tell me it was an elective. Going on this fact alone I'm guessing that I'm older than you and that the either you were in a lesser RG uni or that the studies had been somewhat diluted. 

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HOLA4420
17 minutes ago, Mikhail Liebenstein said:

Thanks but it's over 30 years ago since I entered University and once I obtained my First-Class degree I've never looked back. Least of all the joke scientific subject of Economics. I swiftly moved into a post-grad Masters in IT which has more than served me well. 

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HOLA4421
7 hours ago, MonsieurCopperCrutch said:

Good Lord. Whatever did your professors imagine that you'd learn about economics from the YTS scheme? Please tell me it was an elective. Going on this fact alone I'm guessing that I'm older than you and that the either you were in a lesser RG uni or that the studies had been somewhat diluted. 

No that was GCSE and A-Level, no professors involved at that stage.

My degree is in Engineering, though I did some economics on that too. I also have a Masters.

Edited by Mikhail Liebenstein
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HOLA4422
13 hours ago, iamnumerate said:
13 hours ago, Mikhail Liebenstein said:

Wasn't this YTS - Youth Training Scheme

aka

Your Ticket to Slavery

I  used to work with an IT contractor in 2001 who reportedly got £250K pa as a result of skills he got on the YTS

Not that figure, but I and several friends did YTS training in I.T. (via an iTec college) 1990 for 2 years, and managed to secure our first jobs via them (after a work placement period) and since then, long and mostly successful careers.

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HOLA4423
10 hours ago, Dorkins said:

Interesting to observe that the tendency of some posters to punch down increases when their investment portfolio is doing well. There are honourable exceptions though e.g. byron78 who appears to be sympathetic to asset-poor people despite his comfortable position.

Low self esteem

Edited by btl_hater
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HOLA4424
1 hour ago, dpg50000 said:

Not that figure, but I and several friends did YTS training in I.T. (via an iTec college) 1990 for 2 years, and managed to secure our first jobs via them (after a work placement period) and since then, long and mostly successful careers.

Possibly earning more than if you had gone to Uni to study history or geography!  Which makes one wonder why the Government has pushed this being expanded.

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