The Retirement Thread

[PaulSB]

Enough of this stuff. A beautiful day here. A final bit of painting to do. Pop the cupboard doors back on and we can put all the stuff that's been stacked up round the house back in the porch.

Rovers v Sheffield Wednesday. Another afternoon of misery watching the less than mighty Rovers.

Friends coming for tea - butcher"s sausages, celeriac mash, kale and onion gravy. Then we will play canasta.

 

[Dave7]

Those things are certainly true. I well remember the panic every time the mortgage rate fluctuated. I'm not sure the 15% interest rates contributed to negative equity, I thought those things happened some time apart? It doesn't matter though I get your point.

I've no issue at all with the state support you highlight and it is help we didn't have. However I'm not sure it's enough to solve a couple of fundamentals. Childcare is, as I understand, still hugely expensive compared to our day?

Both my kids pay more in rent than a mortgage would cost. The trouble is they simply cannot save enough to get a deposit. They have student loans to repay, pensions to fund, less secure employment. I feel there are three huge benefits our generation enjoyed, free education, relatively good job prospects and affordable housing. Relatively it was a lot of money but our first house was £15k and the one we live in now £23k. Basically one opened a building society account, saved and got a mortgage.

Taking on board the valid points welshie makes (i well remember the worry of 15% interest on our mortgage) I consider we were brought up in a golden era.
We missed both wars.
We had so much employment you could walk out of one job and into another.
We had the NHS
Crime was low (compared to today)
BTW.......when we married my wages were very poor, just £15 per week delivering co-op bread. BUT our first house only cost £650.00......2 up 2 down, no bathroom and a bog down the yard.

 

[Deleted member 1258]

Taking on board the valid points welshie makes (i well remember the worry of 15% interest on our mortgage) I consider we were brought up in a golden era.
We missed both wars.
We had so much employment you could walk out of one job and into another.
We had the NHS
Crime was low (compared to today)
BTW.......when we married my wages were very poor, just £15 per week delivering co-op bread. BUT our first house only cost £650.00......2 up 2 down, no bathroom and a bog down the yard.

Yes I remember our first house an edwardian two up two down, with a down stairs toilet just off the kitchen in an extension, £10500, £500 deposit and £140 a month, at the time I was earning £50 a week.

 

[Bill Gates]

It is extremely windy here. A bit dodgy to be out riding this morning

 

[welsh dragon]

No my wife doesn't automatically get the full state pension. Her pension age is 66. Mrs P retired at 60 and although she has a full contributions record, to that age, she will make no further contributions through work. She's one of the women badly impacted by equalising pension age. I guess @welsh dragon will have something to say about that!!

For those who don't know it's possible to "buy" a full state pension by paying the extra contributions. In Mrs P's case if she pays £3600 to "buy" another five years contributions her weekly pension increases by £30/week. It's a complete no brainer as after 2.5 years the extra £30 pays off the original £3600 and from then on it's a profit. One can "buy" one year at a time up to two years after reaching pension age in my wife's case.

It's not a ten per cent increase. Adding the her state pension means our income will move from 50% to 60% of our working income.

I am one of the women who was impacted by he change in pension age for women as well. It is what it is I suppose.

 

[PaulSB]

I am one of the women who was impacted by he change in pension age for women as well. It is what it is I suppose.

Yep, it is what it is. Doesn't stop it being grossly unfair on women caught in the trap. Quite what the alternative is I don't know. The articles I've read suggest the impact for some women is very significant.

 

[PaulSB]

So good old Tesco. Pay £7.99/month for Clubcard Premium and get a 10% discount on two shops of £200 per month. The list of exclusions is long. Smacks of desperation to me. Starts November 8th.

I reckon my weekly Aldi trip saves far more than that. The satisfaction of paying +/-£40 most of what we need always makes me smile.

 

[GM]

Morning all. Looks like we're in for a wet day here in the capital, so we might go to the cinema later, I want to see that new Ken Loach film, Sorry we missed you.

 

[Paulus]

Yep, it is what it is. Doesn't stop it being grossly unfair on women caught in the trap. Quite what the alternative is I don't know. The articles I've read suggest the impact for some women is very significant.

Unfortunately the government of the day took on board the arguments made to get parity with mens and women's pensions. At one fell swoop they caned women by not bringing in the changes gradually, but in one hit, also raising the age for men to 66. MrsP has been stung like many tens of thousands of women around the country.
My daughter and son now just into their 30's will have to wait until they are 68 for their state pension, should it still exist by then.

 

[Dave7]

Yes I remember our first house an edwardian two up two down, with a down stairs toilet just off the kitchen in an extension, £10500, £500 deposit and £140 a month, at the time I was earning £50 a week.

Blinkin eck.....you was rich

 

[Dave7]

It is extremely windy here. A bit dodgy to be out riding this morning

Very little wind forcast for us but 90%chance of rain all day........and most of the next week.

 

[Dirk]

Then we will play canasta.

Isn't it a bit windy for that?

 

[welsh dragon]

Out first house was a semi detached corner house at a cost of £7,400. The mortgage payments were £64.00 per month. My God we struggled to pay it and look after 2 children as well especially as I wasn't working.

 

[welsh dragon]

And the game is starting. Woòoohoooo

 

[Dave7]

I am one of the women who was impacted by he change in pension age for women as well. It is what it is I suppose.

Mrs D got hers aged 60. Like you she took time out to bring up the kids so wasn't entitled to the full wack. We opted to pay (i think) £3K to take it up to 90%......no brainer.