Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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
lizzy8230 · 09/11/2023 22:03

Millennials have it so easy.

They grow up with access to technology, travel, experiences on a scale we oldies could only dream of.

It's easy to get to university- I mean, half the population go, compared to the tiny fraction of yesteryear. Easy street!

If they have a baby they get a WHOLE YEAR off work, I mean imagine that! Or they have the choice to share parental leave. That's after dad's had paternity leave too, I mean who even knew that was a thing?

Then when their kid is 2 or 3 they get subsidised childcare. Free hours! Blimey!

Of course, they might want a same sex relationship and they can have a civil partnership or get married. Their rights are protected by law, no skulking around shamefully for them.

See, we can all play your game OP Grin

Mummyratbag · 09/11/2023 22:05

What a fucking horrid goady thread.

I worry about my kids and I think the housing market/situation with rentals is hideous, but talk of limiting free health care to over 70s is obscene.

Coyoacan · 09/11/2023 22:09

LizzBurg · 09/11/2023 21:40

So if you buy a property and by the time you retire the value has increased what will you do with the extra value earned?

Unless you are selling, its value doesn't affect you and even if you are selling, you generally have to buy another

ilovesooty · 09/11/2023 22:12

I thought we'd reached the limit of callous comments on this site until I read that comment from @WeightWhat about withdrawing NHS care from the over 70s.

Irritatedandfedup · 09/11/2023 22:24

LizzBurg · 09/11/2023 21:53

How is that any different to the situation that my parents are in. They’re 75 and if they need care they will sell their home to finance it. Their parents lived in local authority housing so there was no inheritance for them.

I was answering your question 🤷‍♀️

CaramacFiend · 09/11/2023 22:27

The next generation will probably consider us lucky to have had rich parents helping with house deposits/bequeathing inheritances to us. They'll complain we 'had it easy'. 😂

Mytholmroyd · 09/11/2023 22:28

mayorofcasterbridge · 09/11/2023 22:02

Same! Plus they have been given vastly more opportunities in life than I ever had, and all I ever aspired to was increasing their chances. And we are still supporting them to some degree, and they will always have a home here even when they are driving me round the bend.

It is certainly toxic, I couldn't agree more.

Yes I agree @Irritatedandfedup @mayorofcasterbridge my kids range from late teens to early 30s and have ambition and a strong working class work ethic - the oldest ones are doing really well and the younger ones are getting there. But I have never heard them voice the bitterness directed at pensioners for living too long/needing healthcare that I have seen on here. It has shocked me.

I do feel they have been totally shafted with respect to university loans which are being run by loan sharks essentially and impossible to pay off if you don't earn a very good wage - and salaries just not keeping up with costs of living.

I do think we need to return to valueing technical training more highly like we used to do (and countries like Germany still do) with good polys and technical colleges - I blame Tony Blair for that - trying to pitch university as a must do thing for everyone and making everyone think if you didn't go you were some how lesser - which simply isn't true.

I started working for a major retailer at 17 on their junior management training programme with just O levels, left home at 18 and was a systems and administration manager by my mid-20s opening flagship stores and earning a good salary. Didn't need a university degree (although I did do one in my 30s when I worked out what I wanted to do).

I do worry that we infantalise young adults now - I try to teach my kids resilience and self-reliance as I want them to be safe and financially secure when I am gone!

Irritatedandfedup · 09/11/2023 22:31

mayorofcasterbridge · 09/11/2023 22:02

Same! Plus they have been given vastly more opportunities in life than I ever had, and all I ever aspired to was increasing their chances. And we are still supporting them to some degree, and they will always have a home here even when they are driving me round the bend.

It is certainly toxic, I couldn't agree more.

There is a reason why my lovely daughter and sons are just getting on with life as their friends are . I still help out when I can and they all know there is a bed for all of them if necessary hope not unless temporary 😂

FarEast · 09/11/2023 22:31

lizzy8230 · 09/11/2023 22:03

Millennials have it so easy.

They grow up with access to technology, travel, experiences on a scale we oldies could only dream of.

It's easy to get to university- I mean, half the population go, compared to the tiny fraction of yesteryear. Easy street!

If they have a baby they get a WHOLE YEAR off work, I mean imagine that! Or they have the choice to share parental leave. That's after dad's had paternity leave too, I mean who even knew that was a thing?

Then when their kid is 2 or 3 they get subsidised childcare. Free hours! Blimey!

Of course, they might want a same sex relationship and they can have a civil partnership or get married. Their rights are protected by law, no skulking around shamefully for them.

See, we can all play your game OP Grin

👋 👋 👋

LizzBurg · 09/11/2023 22:33

Coyoacan · 09/11/2023 22:09

Unless you are selling, its value doesn't affect you and even if you are selling, you generally have to buy another

@Gwenhwyfar seems to think that pensioners aren’t entitled to have made any money because they didn’t earn it so I’m interested to know what they might do should they find themselves in that position in their old age. Does the same apply if they bought some shares and then left them for 50 years, or any interest paid if they had savings?

Borth · 09/11/2023 22:53

WeightWhat · 09/11/2023 18:15

I think they should be insured with a system of credits - not my idea, but I agree with it.

Hmm, like national insurance?

CaramacFiend · 09/11/2023 22:56

Many boomers have done well later in life but a large number of them had much tougher youths than us

fetchacloth · 09/11/2023 22:58

ilovesooty · 09/11/2023 22:12

I thought we'd reached the limit of callous comments on this site until I read that comment from @WeightWhat about withdrawing NHS care from the over 70s.

I agree @iilovesooty . I was absolutely appalled when I saw that comment 😮

WillowCraft · 09/11/2023 23:01

Young people are lazy and eat too many avocados. If they didn't spend all their time and money scrolling the internet and going on holiday they'd have time to work much longer hours and earn more money.

It was only in the 1948 that the last workhouses closed down..that was where a lot of pensioners lived then. Modern people of every age have things so much better than ever before (with the exception of the last 20 years or so).

BIossomtoes · 09/11/2023 23:05

From their 20s to their 40s they will be paying the pensions of the current 60-80yr olds.

From their 20s to their 40s they will be paying the health care of the current 60-80yr olds.

From their 20s to their 40s they will be paying the social care of the current 60-80yr olds.

Just like today’s pensioners have. I’ve paid for two generations’ pensions and three generation’s’ education. I don’t begrudge a penny of it.

WillowCraft · 09/11/2023 23:05

The reality is that our prosperity over the last 70 years or so has been built on the exploitation of people in other countries. That could not continue forever.

(Before that, prosperity was built on the exploitation of the majority in this country as well as people in other countries!)

We are facing a change in the world order.

ithinkthatmaybeimdreaming · 09/11/2023 23:07

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.

Are you trying to claim that every property in the UK is owned by the older generations? And that every member of those older generations own property? I don't believe that for a moment. We often read posts here from people with six figure salaries - they are not people who are retired. Anyone who has purchased property in recent years is going to benefit from appreciation.

Raspberrymoon49 · 09/11/2023 23:10

Am in my early 60s, still working full time, using Food Banks as can’t afford to live, it’s not wonderful for all of us

Roundandroundandroundsound · 09/11/2023 23:11

So many older out of touch people. Banging on about how hard things were once upon a time. Like a PP said - young people were there too. They were your kids who couldn't have the amazing lives that you couldn't afford to give them, no? Only they won't have the amazing future either.

Readingallnight · 09/11/2023 23:11

rainingsnoring · 09/11/2023 21:24

No, the post war generation has the highest life expectancy.
Life expectancy has now started to fall in the UK.

By expectations I think the pp means stuff u buy and want.
expectations are higher now
..holidays,
clothes
going out
lunch and coffee takeaways
decorations and house stuff
white goods
central heating
nails, hair etcetcetc

grottyb · 09/11/2023 23:14

If they have a baby they get a WHOLE YEAR off work, I mean imagine that! Or they have the choice to share parental leave. That's after dad's had paternity leave too, I mean who even knew that was a thing?

Then when their kid is 2 or 3 they get subsidised childcare. Free hours! Blimey!

And yet birth rates are through the floor!

ithinkthatmaybeimdreaming · 09/11/2023 23:14

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?

Some people have inherited, and some haven't, ever since the beginning of time! What would you like to happen - should people who have worked and made enough money to leave give it to complete strangers instead of their families? Life isn't fair, and it's about time some of you realised that and got on with making your own lives as good as they can be, rather than envying others their good fortune.

grottyb · 09/11/2023 23:15

Just like today’s pensioners have. I’ve paid for two generations’ pensions and three generation’s’ education. I don’t begrudge a penny of it.

difference now is the demographic shift…

Roundandroundandroundsound · 09/11/2023 23:17

grottyb · Today 23:15

Just like today’s pensioners have. I’ve paid for two generations’ pensions and three generation’s’ education. I don’t begrudge a penny of it.

difference now is the demographic shift…

Problem is though most of the responders on this thread clearly don't give a shit. As long as they're all right though eh?

LaurieStrode · 09/11/2023 23:17

grottyb · 09/11/2023 23:14

If they have a baby they get a WHOLE YEAR off work, I mean imagine that! Or they have the choice to share parental leave. That's after dad's had paternity leave too, I mean who even knew that was a thing?

Then when their kid is 2 or 3 they get subsidised childcare. Free hours! Blimey!

And yet birth rates are through the floor!

As they should be on a burning, overpopulated planet! It's about time we stopped subsidizing human reproduction and resumed stigmatizing irresponsible procreation!

People can't help getting sick or growing old, but they certainly can prevent producing offspring they can't afford to raise.

Please create an account

To comment on this thread you need to create a Mumsnet account.

This thread is not accepting new messages.
Swipe left for the next trending thread