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AIBU?

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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:
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Roundandroundandroundsound · 09/11/2023 20:35

I assume you haven't actually read any of my posts then. Well done.

DollyTubb · 09/11/2023 20:35

Yes I agree absolutely it had to change! I'm now finally enjoying the things I never could as a young newly wed teen/20/30 something - I have foreign holidays. I can heat the house. I don't have to worry where my next meal is coming from. I enjoy a lower rate of tax than in the 70s/80s and good health that enables me to care for others. I have a degree I paid for in my 50s because I couldn't afford to go to university in my teens. I'm very very glad that now I'm retired my standard of living is very different to what it was when I was younger.
So I'd vote YANBU.

mrsmingleton · 09/11/2023 20:35

Gwenhwyfar · 09/11/2023 20:21

The current OAPs who are well off are so because they were able to buy a house that increased in value, often without them having to do anything so it's true that many of them made loads of money without earning it at all!

Can you elaborate on this as I don't see your point?

JudgeJ · 09/11/2023 20:35

Circularargument · 09/11/2023 20:29

Yippee another boomer bashing thread . Haven't had one of those in, ooh, a good ten minutes.
Yes, we should all sell our houses for.half price to deserving.millenials, move into one bedroom flats and live on bread and butter. That'll solve everything. Or, y'know - not.

Butter???? Have you seen the price of butter?

When will we ask why so many young people feel the need to rack up massive amounts of student debt doing a degree that's useless, it probably will lead to a job which thirty years ago was done by someone with a few A levels? One only has to look through the clearing lists to see some amazingly useless-sounding courses, I've quoted this before but I still recall my Headteacher going apoplectic because his son wanted to go to Uni for Golf Course Design!

Circularargument · 09/11/2023 20:35

Gwenhwyfar · 09/11/2023 20:32

But your wealth is not mainly from your income from work, but rather from your home ownership and the appreciation.

Actually, our wealth IS mostly from our salaries. Our house value is less than a third of our estate.

mayorofcasterbridge · 09/11/2023 20:35

Thebestwaytoscareatory · 09/11/2023 20:15

Lol, of course not.

Any attempt to point out that those generations used a period of unprecedented peace, prosperity and growth to feather their own nests at the expense of everyone else to come is met with extreme denial and whataboutery.

What a ridiculous thing to say. "Feathering our own nests" - seriously?!!

You make it sound like people were actually evil.

It's crazy.

And just when was that "unprecedented... prosperity and growth"?? That's not how I (or a lot of us on this thread clearly!) remember it, but of course that doesn't suit your agenda!

Meowandthen · 09/11/2023 20:36

cardibach · 09/11/2023 15:54

@OhmygodDont you wrote people were never meant to live for 30 plus years claiming their pensions - but what’s the alternative? People aren’t physically capable of most (any?) jobs into their 70s, so what will you do? Shoot them all at 75?

The stats, and that comment, are based on mortality rates when the State Pension was introduced.

Circularargument · 09/11/2023 20:38

mrsmingleton · 09/11/2023 20:35

Can you elaborate on this as I don't see your point?

There is no point. It's a house. The price of it has changed. It's still a place to live, and is not a liquid asset.

mayorofcasterbridge · 09/11/2023 20:39

Tapasita · 09/11/2023 20:26

@Thebestwaytoscareatory

Any attempt to point out that those generations used a period of unprecedented peace, prosperity and growth to feather their own nests at the expense of everyone else to come is met with extreme denial and whataboutery.

But……….can you honestly blame them? Would you not have done the same? People live in their time and they react as products of their time. You can’t with hindsight blame them for making the best of a good situation.

Clearly we should have gone around in sackcloth and ashes, refused to buy houses... and I don't actually know what else???

Facebookflight · 09/11/2023 20:39

I think the older generation could be more understanding and sympathetic too. My friend has just complained that her parents are shocked she still has a mortgage at 45 despite her being a professional. No clue that an extremely prestigious job doesn’t get you much when it comes to housing these days.

Gwenhwyfar · 09/11/2023 20:39

Circularargument · 09/11/2023 20:35

Actually, our wealth IS mostly from our salaries. Our house value is less than a third of our estate.

I meant boomers in general, not you in particular. How the hell would I know the details of your wealth.

mrsmingleton · 09/11/2023 20:39

Gwenhwyfar · 09/11/2023 20:28

My paternal grandfather did clerical work in the public sector and paternal grandmother a cleaner. They struggled when my df was young, mainly I think because dgf had to work away, but they owned their own home.
DF never saw a bath till he was 18, but bought his first house in his twenties.

Maternal grandparents both in clerical roles in local government, married a bit later, but bought their first house together too.
These were all definitely ordinary people, but home owners more or less from marriage onwards.

You don't seem to realise that clerical work was a good job! My Grandfather was a miner from the age of 12 and my Grandmother washed other people's clothes for a living. They never had their own house. My Mother went to work at 14. My mother and father only became home owners when they were able to buy their council house in the 1970s/80s ( not sure when).

Irritatedandfedup · 09/11/2023 20:40

downdowndowndowndown · 09/11/2023 19:44

Can people learn to read the OP? At no point did I say I begrudged the older generation their standard of living, at no point did I say they should be stripped of it or not get any NHS pension or their state pension. At no point did I say that they hadn't worked hard!
The fact of the matter is that in the 1980's a and an admin assistant could get a house with no deposit. She could give up work to raise children. They could afford to eat if not go on foreign holidays or afford private school but survive. They then inherited from parents before the reforms on social care or inheritance tax. And they had better pensions. My old house was sold in 1984 for 40,000, it's now worth £300,000. Its not comparable to now.

Your title for this thread was’ The standard of living had to change for retired people ‘what have I misread here 🤔Unfortunately you have had @WeightWhat muscling in which really hasn’t helped your case ! I personally disagree with your sentiments.
Just because you have wealthy relatives doesn’t mean they are typical of their generation …sorry!

Papyrophile · 09/11/2023 20:40

You are quick, Tapasita!

PrinnyPree · 09/11/2023 20:40

ruby1957 · 09/11/2023 20:08

I doubt your figures or the blame you put on 600 people in the HoC and HoL and their cronies of every political stripe?

You do realise how many billions and billions your 'plan' would cost?

Yes I do, and why I believe billionaires shouldn't exist. I'd tax every single one of them down to being mere millionaires and they'd still have more money than they could spend in a lifetime.

Facebookflight · 09/11/2023 20:40

But this is part of the issue! What about those that inherit nothing? Why is it fair that half the young get a leg up and the other half get nothing? Is that what we want for our society?

VickyEadieofThigh · 09/11/2023 20:40

Facebookflight · 09/11/2023 20:39

I think the older generation could be more understanding and sympathetic too. My friend has just complained that her parents are shocked she still has a mortgage at 45 despite her being a professional. No clue that an extremely prestigious job doesn’t get you much when it comes to housing these days.

Bit of a generalisation on the "older generation" based on an outlier of an example there.

Gwenhwyfar · 09/11/2023 20:41

"You don't seem to realise that clerical work was a good job! "

Yes, I do realise that. I never said otherwise. It's still ordinary working people though, which was the point of the discussion.
One of my great, grandmothers was also a washerwoman because she was a widow and she didn't own. However, she was poor and not just ordinary.

VickyEadieofThigh · 09/11/2023 20:41

Facebookflight · 09/11/2023 20:40

But this is part of the issue! What about those that inherit nothing? Why is it fair that half the young get a leg up and the other half get nothing? Is that what we want for our society?

You're talking as if this is a new situation.

Circularargument · 09/11/2023 20:41

mayorofcasterbridge · 09/11/2023 20:35

What a ridiculous thing to say. "Feathering our own nests" - seriously?!!

You make it sound like people were actually evil.

It's crazy.

And just when was that "unprecedented... prosperity and growth"?? That's not how I (or a lot of us on this thread clearly!) remember it, but of course that doesn't suit your agenda!

Yes, we never faced unemployment, redundancy or debt. Didn't you get the memo?
Personally I just dreamed OHs two redundancies, the first when we had two under 2s.

Facebookflight · 09/11/2023 20:41

VickyEadieofThigh · 09/11/2023 20:40

Bit of a generalisation on the "older generation" based on an outlier of an example there.

Yes, apologies. Many older people certainly do understand how tough it is now.

Dillane · 09/11/2023 20:42

Hey OP 🥱🥱🥱

overwhelmed2023 · 09/11/2023 20:43

Weightwhat
No I've paid into my nhs pension from my pensionable pay.
What's the problem?

Maxus · 09/11/2023 20:43

Here we go, someone else who didn't live through that generation thinking they know it all 😡

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