‘I’ll give you my crown when you pry it from my cold, dead hands’
(Betty 2, every day to Charles since the mid ’90s)
I’d love to retire. Really would. Go off and do the things that **really** interest me (free software, riding the bike, photography, martial arts) but fat chance of that ever happening.
I fully expect to work until I fall down as that is how life is now. If you are under 55 and don’t have wealth to lean on, you are *utterly fucked* in the UK. When we reach our end of useful life, there will be no state pension and we will die destitute.
“Oh, but your children will….”
What children? When the shitting fuck was life stable enough to think about children? Moving every year or so to chase a contract? Multiple rounds of redundancy when permie? HR not caring about workplace abuse?
The Tories *and* Labour have left decades of rot in the UK. That nation has been hollowed out for profit and depends on on immigrants to survive.
Oh yeah, Brexit. We’re so fucked.
Yeah I’m well above I’ve average U.K salary and I’m fucked. If you are making anything less than let’s say 60-80k your not retiring.
My pension scheme just changed so the accumulation rate is going to 1/85, the upshot being that being my pension has lost a third of its value (annuity).
The only was to retire, with any comfort, for millennials is to buy a house and start throwing money into savings asap. You won’t be able to rely on pension schemes alone.
I came to the conclusion I’d likely be working till my mid to late 70s. Then likely die due to some sort of stress related problem.
God Bless Boris Brexit Britain.
I’m 26 staring down a bleak fucking future, might as well get working on joining the 27 club
That’s okay, I guess. I don’t expect there’ll be any point living past 30 at this rate anyway.
Kinda accepted that I’ll likely work until I’m not fit to work anymore and then likely get screwed over by the government somehow.
Future looks bleak and you kinda have to wonder what’s the point. Since I started work things have just gotten worse instead of better. Just as things start to look up some other bullshit happens.
Yes, because in 40 – 50 years when this generation is retiring society will likely have fallen apart the way things are headed.
I don’t want to rain on anybody’s pension parade, but here at The Pensions Regulator our main role is actually facilitating the wholesale theft of pension pots by company directors, and then enabling them to get away with it. Whoops! That’s let that cat out of the bag…
I think most middle class people on average wages in the UK will still be retiring, though they won’t be as wealthy as their parents were.
Plenty will be inheriting upwards of £250k in their sixties when their Boomer parents pass on and hand them a chunk of their house.
If there’s no wealth in your family though, it is looking increasingly bleak.
The main objective is to pay off a mortgage before you retire, so at least you don’t have the cost of rent hanging over you as a pensioner.
Only the boomers and maybe Gen X will ever have a retirement that long and luxurious. Everyone before or after will maybe get a few years if they’re lucky.
This is all about people in the US, a country renowned for not giving two sh*t’s about its people. Here in the UK I don’t know anyone who doesn’t retire when they can, and I know quite a few who have retired early.
I actually know someone who decided not to have children, worked hard, saved money, and actually retired at 50.
I think part of the problem in todays world is that there is too much that is seen as essentials when actually they are luxuries. TV packages, Game Station latest Smart Phones contracts, a new Car, a couple of Holidays abroad a year, etc etc.
I’m in my 30s and I’m starting to see my friends thinking about having children and it honestly makes me a little panicked for them.
It’s not about getting through the first few years with the horrendous cost of childcare; it’s not going to be 18 years and you’re done. Will their children be able to afford rent? Will they ever own a house? Will my friends be able to help them with university fees or a house deposit? Are they up for having their children live with them until they are 70 (goodbye downsizing). And that’s before wondering what the world will look like for them in 50 years.
A lot of my friends were lucky to have the Bank of Mum & Dad to kickstart them into 95% mortgages and shared ownership – will they be doing the same for their children? I don’t think it’s possible. People say they will inherit and will be able to pay off their mortgage but they won’t, all that money will be going on their parent’s care fees.
The situation is same in India. My grandpa and grandma bother retired at age of 60. They lived till 87 and 83 respectively. They would get pension and never had to rely on my mum and dad (except for the medical bills in their last days). My dad is a CA and mum works with him in his proprietary concern. They do not have savings at all. They are 57 and 61 respectively. They are going to work for almost 10 years more (it helps that their health is top notch).
Yes IF working for peanuts and barely having any peanuts left doesn’t kill us, then working until we literally drop dead will be the new retirement. Hell, my current retirement plan and i’m 29, is work until i’m 90, if someone pisses me off, drop dead on the spot. Of course, knowing the government, we would have worked out how to reanimate corpses thus undead servitude ends up being the new retirement.
​
Oh and I look forward to discovering that the pension is worthless or it’s lost or some bullshit that renders the pension to be lost.
In order for boomers to retire at 55 and live to 95, you prols need to die by 60 and work until you’re 80.
18 comments
No.
‘I’ll give you my crown when you pry it from my cold, dead hands’
(Betty 2, every day to Charles since the mid ’90s)
I’d love to retire. Really would. Go off and do the things that **really** interest me (free software, riding the bike, photography, martial arts) but fat chance of that ever happening.
I fully expect to work until I fall down as that is how life is now. If you are under 55 and don’t have wealth to lean on, you are *utterly fucked* in the UK. When we reach our end of useful life, there will be no state pension and we will die destitute.
“Oh, but your children will….”
What children? When the shitting fuck was life stable enough to think about children? Moving every year or so to chase a contract? Multiple rounds of redundancy when permie? HR not caring about workplace abuse?
The Tories *and* Labour have left decades of rot in the UK. That nation has been hollowed out for profit and depends on on immigrants to survive.
Oh yeah, Brexit. We’re so fucked.
Yeah I’m well above I’ve average U.K salary and I’m fucked. If you are making anything less than let’s say 60-80k your not retiring.
My pension scheme just changed so the accumulation rate is going to 1/85, the upshot being that being my pension has lost a third of its value (annuity).
The only was to retire, with any comfort, for millennials is to buy a house and start throwing money into savings asap. You won’t be able to rely on pension schemes alone.
I came to the conclusion I’d likely be working till my mid to late 70s. Then likely die due to some sort of stress related problem.
God Bless Boris Brexit Britain.
I’m 26 staring down a bleak fucking future, might as well get working on joining the 27 club
That’s okay, I guess. I don’t expect there’ll be any point living past 30 at this rate anyway.
Kinda accepted that I’ll likely work until I’m not fit to work anymore and then likely get screwed over by the government somehow.
Future looks bleak and you kinda have to wonder what’s the point. Since I started work things have just gotten worse instead of better. Just as things start to look up some other bullshit happens.
Yes, because in 40 – 50 years when this generation is retiring society will likely have fallen apart the way things are headed.
I don’t want to rain on anybody’s pension parade, but here at The Pensions Regulator our main role is actually facilitating the wholesale theft of pension pots by company directors, and then enabling them to get away with it. Whoops! That’s let that cat out of the bag…
I think most middle class people on average wages in the UK will still be retiring, though they won’t be as wealthy as their parents were.
Plenty will be inheriting upwards of £250k in their sixties when their Boomer parents pass on and hand them a chunk of their house.
If there’s no wealth in your family though, it is looking increasingly bleak.
The main objective is to pay off a mortgage before you retire, so at least you don’t have the cost of rent hanging over you as a pensioner.
Only the boomers and maybe Gen X will ever have a retirement that long and luxurious. Everyone before or after will maybe get a few years if they’re lucky.
This is all about people in the US, a country renowned for not giving two sh*t’s about its people. Here in the UK I don’t know anyone who doesn’t retire when they can, and I know quite a few who have retired early.
I actually know someone who decided not to have children, worked hard, saved money, and actually retired at 50.
I think part of the problem in todays world is that there is too much that is seen as essentials when actually they are luxuries. TV packages, Game Station latest Smart Phones contracts, a new Car, a couple of Holidays abroad a year, etc etc.
I’m in my 30s and I’m starting to see my friends thinking about having children and it honestly makes me a little panicked for them.
It’s not about getting through the first few years with the horrendous cost of childcare; it’s not going to be 18 years and you’re done. Will their children be able to afford rent? Will they ever own a house? Will my friends be able to help them with university fees or a house deposit? Are they up for having their children live with them until they are 70 (goodbye downsizing). And that’s before wondering what the world will look like for them in 50 years.
A lot of my friends were lucky to have the Bank of Mum & Dad to kickstart them into 95% mortgages and shared ownership – will they be doing the same for their children? I don’t think it’s possible. People say they will inherit and will be able to pay off their mortgage but they won’t, all that money will be going on their parent’s care fees.
The situation is same in India. My grandpa and grandma bother retired at age of 60. They lived till 87 and 83 respectively. They would get pension and never had to rely on my mum and dad (except for the medical bills in their last days). My dad is a CA and mum works with him in his proprietary concern. They do not have savings at all. They are 57 and 61 respectively. They are going to work for almost 10 years more (it helps that their health is top notch).
Yes IF working for peanuts and barely having any peanuts left doesn’t kill us, then working until we literally drop dead will be the new retirement. Hell, my current retirement plan and i’m 29, is work until i’m 90, if someone pisses me off, drop dead on the spot. Of course, knowing the government, we would have worked out how to reanimate corpses thus undead servitude ends up being the new retirement.
​
Oh and I look forward to discovering that the pension is worthless or it’s lost or some bullshit that renders the pension to be lost.
In order for boomers to retire at 55 and live to 95, you prols need to die by 60 and work until you’re 80.