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To think the standard of living for retired people had to change

1000 replies

downdowndowndowndown · 09/11/2023 14:50

I'm a millennial. I will retire in my seventies. Many in my age group will be still paying their mortgage off well into their sixties. Many will never be able to buy. This is not a moan about that.

My mums generation were able to buy cheaper houses in the eighties. Some have also inherited well (houses which their parents owned and didn't have to sell to pay for care, which had risen in price to above a million). They had better pension plans. Some were able to go to university for free and their degrees actually meant something in the workplace: They often paid off their mortgages in their forties. I see a lot of my parents relatives have retired early and have very enviable lives.

Two uncles have retired in their early sixties. They are both in good help. They spend their days on many holidays, eating out multiple times per week, going to garden centres, renovating their beautiful houses, helping children financially and with childcare. They will have presumably worked out their finances and could afford to continue to live like this for the rest of their lives! Possibly thirty more years!

I think they are possibly going to be unique in their quality of life. We will never have that and I don't see my children's generation having things any earlier.

In essence the generation before me were mostly fortunate, unless personal situations changed their financial situation or they lost their homes during the nineties interest rises. Retirements and pensions were never designed to support people for three decades and that things had to change hence raising the retirement age and making people pay more towards their care.

OP posts:
Thread gallery
11
overwhelmed2023 · 09/11/2023 19:22

It depends on the ages/ years you mean. My bil bought cheap, but by 1990 for us everything was expensive and mortgages exorbitant. Also people were given furniture kept old carpets etc. but the obsession with inheritance on here is truly entitlement and greed personified.

WeightWhat · 09/11/2023 19:23

Daphnis156 · 09/11/2023 19:16

A resentful opening post.

You have the hand you are dealt, as did generations before you.

So get on with it and stop moaning.

This logic literally defeats all politics for better or worse.

Tapasita · 09/11/2023 19:25

@mayorofcasterbridge

How do they know what pension age is going to look like for the current bunch of gimme gimme whingers?!

As a matter of fact, any economist will tell you that basic demand modelling for the current generation of “whingers,” does not look good in respect of their pension age. It’s only projection is upwards. The money is not there to support the same level of retirement wealth that is seen across the current generation of retirees.

So using economics & trends we can paint a pretty accurate forecast as it goes.

overwhelmed2023 · 09/11/2023 19:26

Truth to tell, you have to make your own way in the world and cut your cloth according to your means. Instead of hoping for free money all the time.

Littlehouseinthebigwoods8 · 09/11/2023 19:27

Mylovelygreendress · 09/11/2023 14:57

Here we go - another ageist thread . Why does MN allow these ?

You really think this thread should be deleted? :/

Irritatedandfedup · 09/11/2023 19:27

MrsDanversGlidesAgain · 09/11/2023 18:42

I think the OP is WeightWhat's DC.

Exactly what I am thinking!!
OP/@WeightWhat can you tell me what your thoughts are regarding this elderly lady ? In her mid seventies ( the age range of the people you think should have their pension taken away ) I did a home assessment and she was living in squalor,no heating ,flat damp ,putrid smell,incontinent and carers visiting three times a day. She didn’t have the funds to heat her home or pay for extra care ,cottage hospitals do not exist these days !Her foot was gangrenous and her toes would have snapped off ,if they were touched ! Arranged for emergency admission that day . She died before the transport arrived .
So what are your thoughts about this well off ,selfish pensioner ,who should not be funded by NHS over 70 ? This example I have given is far more common than your narrow minded opinion.
Also out of interest,what are your occupations/ yearly income?

FreeS0faBed853 · 09/11/2023 19:28

Worldwide people have been living longer (not taking Covid into account) over time due to better health care, diet, living conditions etc

Therefore, state retirement had to increase

This issue is not going to go away, but continue to increase

Look at the stats, other countries are similar

Some people are having 2 or 3 careers over their lifetime

https://www.nippon.com/en/japan-data/h01786/#:~:text=Japan%27s%20number%20of%20centenarians%20first,people%20aged%20100%20or%20over.

Japan’s Centenarians Reach a Record 92,000

Japan’s number of centenarians first topped 10,000 in 1998 and has now climbed to 92,000.

https://www.nippon.com/en/japan-data/h01786#:~:text=Japan%27s%20number%20of%20centenarians%20first,people%20aged%20100%20or%20over.

TisTheSeasonToLebkuchen · 09/11/2023 19:29

If you want money and to retire early, you have to take risks, gambles and make sacrifices no matter what gen you are from.

I am 54 and have lived and worked in 4 other countries at the expense of family relationships. Our mortgage was paid off by 45, and I only work P/T now. No one has ever given me anything. I won't inherit anything from anyone. I used to save 300 quid a month living very frugally in my 20's and put a deposit down on a small flat. I never had a fancy phone, clothes, or holidays.

potatoheads · 09/11/2023 19:30

Terraria · 09/11/2023 19:30

Need to pay to read. Useless

WeightWhat · 09/11/2023 19:32

Irritatedandfedup · 09/11/2023 19:27

Exactly what I am thinking!!
OP/@WeightWhat can you tell me what your thoughts are regarding this elderly lady ? In her mid seventies ( the age range of the people you think should have their pension taken away ) I did a home assessment and she was living in squalor,no heating ,flat damp ,putrid smell,incontinent and carers visiting three times a day. She didn’t have the funds to heat her home or pay for extra care ,cottage hospitals do not exist these days !Her foot was gangrenous and her toes would have snapped off ,if they were touched ! Arranged for emergency admission that day . She died before the transport arrived .
So what are your thoughts about this well off ,selfish pensioner ,who should not be funded by NHS over 70 ? This example I have given is far more common than your narrow minded opinion.
Also out of interest,what are your occupations/ yearly income?

I didn’t say anyone over 70 should have their pension taken away? I said no NHS - but, as in lots of European countries, there would be a system of insurance and credits.

It’s odd you think I am related to OP. We aren’t expressing some niche opinion. It’s pretty widely understood that retirees have it better than the young families trying to balance childcare/no housing while they pay for retirees services.

This current crop of retirees is richer than any generation before. It hasn’t gone unnoticed.

Roundandroundandroundsound · 09/11/2023 19:36

I agree. Incredibly aggressive as the fact that the post you're referring to shows by having been deleted. Look at this response to my earlier post (which I think was pretty balanced and unblaming) it sounds unhinged. Also not very good at maths since they asked if I was 14 when I clearly stated I was an older gen X...

WeightWhat · 09/11/2023 19:36

Jk987 · 09/11/2023 19:20

You'll inherit the property from your Mum. You won't be working until your seventies. You'll get pay rises and promotions through moving jobs. You might be on a dual income.

My parents bought a cheap property in the eighties. There was no frills though, no central heating upstairs and single glazed windows. No car, Wi-Fi, meals out or subscriptions.

It's easy to gloss over the past and look to the future with pessimism but there are choices.

Who is this directed at?

Mum will need the house for care provision.

Dual income just keeps the lights on - but in a rented property without a chance owning or having a spare room or two to put a family in.

These are not choices. These are circumstances bequeathed by the breezily selfish.

overwhelmed2023 · 09/11/2023 19:36

Some poisonous envious posts on here. Retirement age has increased, also people live longer so need to find money for those years. They have paid NI or have a work pension so actually you are not funding retired people! Cheek if it. Pure greed and envy.

ithinkthatmaybeimdreaming · 09/11/2023 19:37

The argument about smart phones doesn't really work- previous generations didn't have them because they hadn't been inventednot because they were too poor or saving for more worthy things.

Well, it does to a certain extent. There are smartphones, and then there are smartphones. I have one, it was ultra cheap, and I have the most basic plan. Some people have extremely expensive phones - we can all see the cost of them, and many young people have these phones, which they continually upgrade.

BooseysMom · 09/11/2023 19:37

aswarmofmidges · 09/11/2023 18:40

We need

Housing to be affordable for all not just those who get inheritance

Currently people who get inheritance but houses at inflated prices and everyone else is shafted

Rebuild council homes using the money you raise from inheritance taxes

Charge rents that are affordable , cover costs not make profits for landlords
Ensure that anyone who wants can have such good secure tenancy homes

House prices will adjust. Housing benefit will decrease ( you'll like that bit)

You get to keep the taxes you raise from the richer pensioners ( you'll like that too but if you cancel the state pension you'll lose that )

And then the money you get from your wages will go further because it's not taken in rent or mortgage - more people will be able to save for their own pensions and future care ( that's good for reducing the future benefit bill also )

Killing old people by denying them care ; robbing them of their pension savings ; pushing them into a works house by stopping the state pension ; that dehumanises the older person , treats them as less worthwhile than a younger person , that's just wrong. You need to solve the problems without doing that

Excellent post

Roundandroundandroundsound · 09/11/2023 19:38

mayorofcasterbridge · 09/11/2023 18:56

Another deluded one.

Why would any generation choose to pull the drawbridge up behind them, especially if they have children???

We should be striving to ensure that everyone has at least a decent quality of living.

And cut out the "old people" crap. It's patronising and rude. I am only just in the boomer generation, and I am not fucking OLD!!

You sound very immature. Are you about 14? You too will be "old" one day, IF you are fortunate. You will then have a generation baying at your feet like you are now. Good luck with it.

If there's more people in that age group, it's because there were no bloody choices for women but to keep having way more children than their bodies could cope with or they could afford. No contraception, no independence, raising children in poverty and staying in marriages they were unhappy in. Then they have to listen to foolish people like you bleating on and railing against them for fucking having the audacity to get older. Consider yourself so lucky that you have all the life choices, freedoms and opportunities that all of those "OLD PEOPLE" achieved for you!!! Catch a grip.

Do you know, when I was a child actually, I loved old people. I loved spending time with them. I loved their life experience, their humanity (most of them!), their stories of their lives.

Quite fail! This is what I was referring to from @mayorofcasterbridge

GertrudePerkinsPaperyThing · 09/11/2023 19:39

Yes that generation are and will be the only ones to have quite such a retirement.

Generations before didn’t have it - didn’t benefit from the same house price rises, and didn’t have the benefit of the welfare state from cradle to grave in the way the post war generation have had. When I was little in the 80s, retired people were often very poor - and that was a bad thing! But it remains true that this generation are the first for whom a long, well funded retirement has been possible. And they’re likely to be the last.

Previous generations also had a lot of caring responsibilities in retirement- they were more likely to care for their own parents until they passed and to care for grandchildren. Current retirees are in general less likely to do either.

GertrudePerkinsPaperyThing · 09/11/2023 19:39

Not a criticism of them exactly but it is a fact.

GertrudePerkinsPaperyThing · 09/11/2023 19:40

I agree that society should be trying to make sure that subsequent generations have the same quality of retired life but that doesn’t seem to be what’s happening!

Roundandroundandroundsound · 09/11/2023 19:40

Be careful @GertrudePerkinsPaperyThing a lot of people like to call facts "agism" around here

Calmdown14 · 09/11/2023 19:41

Christ on a bike.

This is like the thread earlier where one 80s mother staying at home with the kids and returning to a career was equated to the experience of everyone in the 80s.

Some people have plenty, others don't. It applies just as much to pensioners as every other generation.

Flopsythebunny · 09/11/2023 19:42

Charlize43 · 09/11/2023 17:15

That's inhumane! Why is it less for the pre 2016?

The government decided that if they made pensions a couple of pounds over the cut off for means tested benefits it would save them millions

12345change · 09/11/2023 19:42

Facebookflight · 09/11/2023 19:03

https://ifs.org.uk/articles/things-go-swimmingly-those-generations-who-shout-loudest

the economics geeks agree with the OP. The wealthiest generation currently are the pensioners, despite what people commenting here’s lives experience might think.

While this may be true - it is not a reason to make pensions poorer...in fact we should improving things for all.

LuckySantangelo35 · 09/11/2023 19:43

@downdowndowndowndown

yeah OP it’s a disgrace!

they should be putting all their wanton cash to good use and giving it to you and your kids!!

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