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Better off Retired


Lt Kije
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I think that someone is taking the proverbial! Although not quite at retirement age yet, I do know quite a few who are. Not only have they spent around 45+ years working, and thus contributing to National Insurance, not one of the ones I know have anything like the £50 000 quoted income - most I know, myself included, would have to work for more than three years to earn that.

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With the rate of inflation exceeding the rates of return on savings, and the printing of more money (Quantative Easing); financially responsible grumpies are currently being robbed. But the real reason Dave won't make an overt attack on them is that, as a group. they tend to vote. :wink:

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I never take any of these published figures as even close to the truth, on principle. When I was teaching, the "average salary" quoted in the media always seemed to include the Minister for Education and all the civil servants salaries in the total. The national average teachers' salary was quoted, while I was still a teacher in about 1993 as £40 000. I had been teaching for very close to twenty years and had only just reached half of that. That was when I was convinced that some editors just pluck figures out of the air.

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Many "baby boomers" have been brought up to save for the things they want, their biggest borrowing being their mortgage. I remember when hire purchase first came in, as it was initially frowned on, as folk couldn't afford the things they were buying. However, their kids had no such reticence, as with the advent of Bank cards, their upbringing having never heard the word "no" from parents, gave way to the "I want it, I want it now" generation' so we had a borrowing binge, which ultimately resulted in the global financial crash and the resultant austerity. So perhaps the young, who were engaged in this financial binge deserve the hangover?! :wink:

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Many retired people bought bye to let properties, thus stopping young people getting on the housing ladder, they also made money just by sitting in their property's as the prices went up and up, the baby boomers had it very good Obs, Free university education, house prices going though the roof, social mobility ect, all things that have gone for the young.

 

And was it not baby boomers in charge of the banks when they were lending to all ?

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.... and don't you think the grumpies paid for all this largess through taxation, NI and pension contributions; whilst saving money that was irresponsibly loaned to young folk who couldn't afford to pay it back; and not necessarilly by older bankers either; the kids in Canary Wharf were gambling with £millions to win their bonuses! :wink:

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I presume you have evidence that "many" (do you have a percentage figure for that Kije?) retired people bought Buy to Let properties? Just another nonsensical statement from a master of such.

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I'm afraid that isn't the way the Lt Kije patented "show me the evidence" works. Why should I do the looking? Show the evidence is what it says.

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It's you that wants us to do the research for your alleged evidence Lt Kije, not the other way round. You're very fond of demanding other people produce evidence, now it's your turn.

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I don't see the problem in buying property to rent out and creating an income for my future and my families future.... I have paid tax all my life which goes to helping others and now I am starting to look seriously at retirement, I intend to buy and let as many properties as I bloody well can.

 

I certainly don't intend to see my kids destitute in the future and myself in a cold flat because I can't afford the heating bills..... I have umpteen pensions and have been paying into them for over 30 years and still won't get anywhere near enough to live the lifestyle I want if I count on them as my only source of income.

 

I reckon the Government should allow people with less than 10 or 15 years left in work to take the cash out of a pension and buy property.... the return on an £80,000 house in Warrington is currently over £7,200 a year. £80,000 in a pension plan wold give you about £1,200 if you are lucky

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I completely agree with you Baz, but the problem with your idea is we are not building anywhere near enough houses, so you would be taking was in a scares resource, so making it even harder for the young to get on the housing ladder. We need more houses.

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What we really need is more land with planning permission, because it's the lack of the land with planning permission which puts up the cost of housing. The value of the land is more than the value of the property that is built on it.

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so you would be taking was in a scares resource, so making it even harder for the young to get on the housing ladder.

 

I don't care.... my ancestors didn't care about using all the oil and gas and leaving me to pay ridiculous prices at the pumps to enjoy my hobby.... and anyway as I said, I have already paid enough taxes over the years and I consider I have done my bit to help the disadvantaged.... time for someone else to have a go

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