Pensions and Pensioners

hilts said:
Did you? Private was it? Do you have the bill for any state education? Coincidence the figure for this and other services for yourself and children was the same exact amount as the tax you paid. Its a pot we all contribute to.
Fukin? Who paid for yours :-)
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Smart arse
Two went to Cambridge and Manchester grammar yes I paid.
Anyway work hard keep paying in I will sit in the sun and enjoy it
 
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mackenzie said:
The housing issue is definitely a massive problem.
I work with 18-24 year olds trying to find a job, and that thought often goes through my mind re how the hell will they ever afford their own property?
The point is though that this is not the fault of pensioners; its the world we live in and multu faceted.
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It isn't the fault of pensioners no but their opinions are completely skewed by their experience of what is tough when actually they had it far easier than they think. Pensioners always quote the interest rates in the 1980's but they forget what they were earning in relation to the price of housing.

They'll say interest rates in their day were 15% but you just cannot translate that into today. Even a 1% rise in interest rates today would result in an apocalypse. This is why the BoE struggles to tackle the cost of living, interest rates are no longer a mechanism to control anything because the housing market would collapse.

At my last remortgage my mortage went up from £830pm to £1100pm and that was with what a 0.5% rate rise? This is after 8 years of paying off the capital of the mortgage, you'd expect a mortgage to get cheaper over time and not more expensive! Even a 2% rate rise would put me and my family on the streets.

Did pensioners ever have to worry about any of this? Did they balls, they just worked and rode the housing wave and now some are sat on capital assets worth 1500% of what they originally paid. Around 1/4 to 1/3 of pensioners are now asset millionaires and many of these are the ones telling young people to simply give up their Starbucks and work harder....

By the pensioner logic if salaries had tracked housing costs then the average salary today should be at least £85,000 a year but guess what it's not even half that. Young people today can therefore skip eating, skip living and work every single hour under the sun for a decade and they'll still not be able to afford a house.
 
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We've got Guardiola said:
It isn't the fault of pensioners no but their opinions are completely skewed by their experience of what is tough when actually they had it far easier than they think. Pensioners always quote the interest rates in the 1980's but they forget what they were earning in relation to the price of housing.

They'll say interest rates in their day were 15% but you just cannot translate that into today. Even a 1% rise in interest rates today would result in an apocalypse. This is why the BoE struggles to tackle the cost of living, interest rates are no longer a mechanism to control anything because the housing market would collapse.

At my last remortgage my mortage went up from £830pm to £1100pm and that was with what a 0.5% rate rise? This is after 8 years of paying off the capital of the mortgage, you'd expect a mortgage to get cheaper over time and not more expensive! Even a 2% rate rise would put me and my family on the streets.

Did pensioners ever have to worry about any of this? Did they balls, they just worked and rode the housing wave and now some are sat on capital assets worth 1500% of what they originally paid. Around 1/4 to 1/3 of pensioners are now asset millionaires and many of these are the ones telling young people to simply give up their Starbucks and work harder....

By the pensioner logic if salaries had tracked housing costs then the average salary today should be at least £85,000 a year but guess what it's not even half that. Young people today can therefore skip eating, skip living and work every single hour under the sun for a decade and they'll still not be able to afford a house.
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Absolute bollocks
 
We've got Guardiola said:
It isn't the fault of pensioners no but their opinions are completely skewed by their experience of what is tough when actually they had it far easier than they think. Pensioners always quote the interest rates in the 1980's but they forget what they were earning in relation to the price of housing.

They'll say interest rates in their day were 15% but you just cannot translate that into today. Even a 1% rise in interest rates today would result in an apocalypse. This is why the BoE struggles to tackle the cost of living, interest rates are no longer a mechanism to control anything because the housing market would collapse.

At my last remortgage my mortage went up from £830pm to £1100pm and that was with what a 0.5% rate rise? This is after 8 years of paying off the capital of the mortgage, you'd expect a mortgage to get cheaper over time and not more expensive! Even a 2% rate rise would put me and my family on the streets.

Did pensioners ever have to worry about any of this? Did they balls, they just worked and rode the housing wave and now some are sat on capital assets worth 1500% of what they originally paid. Around 1/4 to 1/3 of pensioners are now asset millionaires and many of these are the ones telling young people to simply give up their Starbucks and work harder....

By the pensioner logic if salaries had tracked housing costs then the average salary today should be at least £85,000 a year but guess what it's not even half that. Young people today can therefore skip eating, skip living and work every single hour under the sun for a decade and they'll still not be able to afford a house.
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It's beginning to look like an audition for a Paddy Power fan denial video script to me ;-)

BTW, I quoted the 15% to you, and I'm not a pensioner.

Edit......
the 1980s, UK house repossessions began at around 3,400 per year at the start of the decade, climbed to 26,000 by 1987, and sat at 16,000 by 1989. They subsequently skyrocketed to record highs of 75,500 by 1991 due to interest rates peaking at 15%.

Hard enough for you ?
 
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abu13 said:
There is no issue for the country to pay everyone a good state pension. The problem that we have is crippling debt repayments and a benefits system that is out of control. No political party has the will to make the hard decisions required as they know lots if the policies that would need to change will impact them directly.
Politicians have no grasp on normal working peoples lives.
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I always remember someone saying many years back, put the politicians on a tradesman wage then watch your wage grow. As for people saying we need to pay handsomely to attract the best, I'm still waiting !!
 
We've got Guardiola said:
It isn't the fault of pensioners no but their opinions are completely skewed by their experience of what is tough when actually they had it far easier than they think. Pensioners always quote the interest rates in the 1980's but they forget what they were earning in relation to the price of housing.

They'll say interest rates in their day were 15% but you just cannot translate that into today. Even a 1% rise in interest rates today would result in an apocalypse. This is why the BoE struggles to tackle the cost of living, interest rates are no longer a mechanism to control anything because the housing market would collapse.

At my last remortgage my mortage went up from £830pm to £1100pm and that was with what a 0.5% rate rise? This is after 8 years of paying off the capital of the mortgage, you'd expect a mortgage to get cheaper over time and not more expensive! Even a 2% rate rise would put me and my family on the streets.

Did pensioners ever have to worry about any of this? Did they balls, they just worked and rode the housing wave and now some are sat on capital assets worth 1500% of what they originally paid. Around 1/4 to 1/3 of pensioners are now asset millionaires and many of these are the ones telling young people to simply give up their Starbucks and work harder....

By the pensioner logic if salaries had tracked housing costs then the average salary today should be at least £85,000 a year but guess what it's not even half that. Young people today can therefore skip eating, skip living and work every single hour under the sun for a decade and they'll still not be able to afford a house.
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They say ignorance is bliss and doesn’t this post prove it.

When interest rates hit 15% I was bricking it. It made my house unaffordable. I was so glad to fix for 10 years when they came down. I could just manage that. Of course it was the wrong decision in hindsight as rates slowly dropped.

We saw the property crash where it took years to sell properties for what we paid for them.
We had no spare money.
We had no holidays for ten years. We ran a ten year old car that I had to borrow money to pay for servicing. We paid 30% income tax.

You weren’t there as your uninformed post illustrates.
 
We've got Guardiola said:
At my last remortgage my mortage went up from £830pm to £1100pm and that was with what a 0.5% rate rise? This is after 8 years of paying off the capital of the mortgage, you'd expect a mortgage to get cheaper over time and not more expensive! Even a 2% rate rise would put me and my family on the streets.
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Not sure of your logic here, you’re surprised your monthly amount went up? Or the amount you owe went up?
 
denislawsbackheel said:
Your NI contributions do NOT pay for your pension.
It pays for the current pensioners.
Surely you know that by now!
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Having worked all my life and made maximum contributions (contributing to what?) I was expecting a full pension.... was I wrong in that expectation, because that is the line I've been fed all my life. Fortunately for me I was given advice not to withdraw my workplace pension contributions, which I could have done and leave it invested in a final salary pension. I am now benefitting from that pension and will soon be entitled to my state pension.

There is a Government website you can check on which will detain your contributions over your working life and which also tells you, based on your contributions what state pension you have bought or are entitled to and when.
 
We've got Guardiola said:
It isn't the fault of pensioners no but their opinions are completely skewed by their experience of what is tough when actually they had it far easier than they think. Pensioners always quote the interest rates in the 1980's but they forget what they were earning in relation to the price of housing.

They'll say interest rates in their day were 15% but you just cannot translate that into today. Even a 1% rise in interest rates today would result in an apocalypse. This is why the BoE struggles to tackle the cost of living, interest rates are no longer a mechanism to control anything because the housing market would collapse.

At my last remortgage my mortage went up from £830pm to £1100pm and that was with what a 0.5% rate rise? This is after 8 years of paying off the capital of the mortgage, you'd expect a mortgage to get cheaper over time and not more expensive! Even a 2% rate rise would put me and my family on the streets.

Did pensioners ever have to worry about any of this? Did they balls, they just worked and rode the housing wave and now some are sat on capital assets worth 1500% of what they originally paid. Around 1/4 to 1/3 of pensioners are now asset millionaires and many of these are the ones telling young people to simply give up their Starbucks and work harder....

By the pensioner logic if salaries had tracked housing costs then the average salary today should be at least £85,000 a year but guess what it's not even half that. Young people today can therefore skip eating, skip living and work every single hour under the sun for a decade and they'll still not be able to afford a house.
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Every generation has its struggles. I’m an FOC by the way. My Grandfather’s lot had WW1 to contend with, then the financial crash and mass unemployment - real poverty (not just “relative” poverty as measured today). My Dad’s group had WW2 to deal with - which fucked what was left of the National wealth. My lot was lucky and had no World Wars to contend with, but I remember trying to buy my first house and watch prices double in just a few years in the 1970s.It took me 9 years of scrimping, saving, and doing without - only two brief wet holidays (Wales) as you needed a 10% deposit to buy a house in those days and a good savings record. Inflation hit 30%, 3 day week, power cuts, oil crisis, brutal deindustrialisation, mortgage rates hitting 15% - lots of repossessions, 3 million unemployed etc. I drove a rusty Ford Cortina with a recond. engine when I could finally afford a car at the age of 25.
Your post is a load of bollocks. Every generation has its unique struggles. When I started work, I don’t recall knowing anyone who thought they should retire in their fifties - people worked long hours - I was doing regular overtime - and chased the £££. I do feel sorry for today’s young and recognise how tough it can be but too many have high expectations. I felt much more sorry for the young in 1914 and 1939. When I was absolutely skint I made a point of focusing on myself/family and trying never to envy anyone else.
You might want to give it a go.
 
We've got Guardiola said:
It isn't the fault of pensioners no but their opinions are completely skewed by their experience of what is tough when actually they had it far easier than they think. Pensioners always quote the interest rates in the 1980's but they forget what they were earning in relation to the price of housing.

They'll say interest rates in their day were 15% but you just cannot translate that into today. Even a 1% rise in interest rates today would result in an apocalypse. This is why the BoE struggles to tackle the cost of living, interest rates are no longer a mechanism to control anything because the housing market would collapse.

At my last remortgage my mortage went up from £830pm to £1100pm and that was with what a 0.5% rate rise? This is after 8 years of paying off the capital of the mortgage, you'd expect a mortgage to get cheaper over time and not more expensive! Even a 2% rate rise would put me and my family on the streets.

Did pensioners ever have to worry about any of this? Did they balls, they just worked and rode the housing wave and now some are sat on capital assets worth 1500% of what they originally paid. Around 1/4 to 1/3 of pensioners are now asset millionaires and many of these are the ones telling young people to simply give up their Starbucks and work harder....

By the pensioner logic if salaries had tracked housing costs then the average salary today should be at least £85,000 a year but guess what it's not even half that. Young people today can therefore skip eating, skip living and work every single hour under the sun for a decade and they'll still not be able to afford a house.
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Oh dear, I can assure you the 15% interest rates were devastating for working class people like me, there was a recession too so opportunities for overtime were limited. Believe or not some pensioners don’t actually own their own homes, I know guys from work who only ever rented a mix of council houses & private. This myth that all pensioners are sat on millions in equity is not only wrong, but hideously ageist, ignorant & downright horrible. Best thing you can do pal is talk about what you know & not what you think to know.
 
denislawsbackheel said:
They say ignorance is bliss and doesn’t this post prove it.

When interest rates hit 15% I was bricking it. It made my house unaffordable. I was so glad to fix for 10 years when they came down. I could just manage that. Of course it was the wrong decision in hindsight as rates slowly dropped.

We saw the property crash where it took years to sell properties for what we paid for them.
We had no spare money.
We had no holidays for ten years. We ran a ten year old car that I had to borrow money to pay for servicing. We paid 30% income tax.

You weren’t there as your uninformed post illustrates.
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The current situation isn't a temporary economic situation caused by high interest rates, it's permanent! IE, young people will permanently never be able to afford a house because the mathematics are worsening. The only hope for these people is to continue working and move up the career ladder but most will never ever achieve this. There is a difference between difficult and impossible.

I said this in the other thread, my dad was a welder his entire life from 18. He bought his first house at 23, he didn't have to move up rungs of a career ladder nor did he need to eat beans whilst saving for 10 years. My mum worked 15hrs per week and she otherwise stayed at home to look after us. This kind of story is complete fantasy today.

Do you think any of the below is normal? The last column of the table is important and illustrates precisely the financial difficulties that young people face. And yes, the full intention of my posts is to illustrate that quite clearly older people deflect because they do not give a shit and often it's because they stand to benefit.

abcfinance.co.uk

The Truth Behind ‘Generation Rent’ - ABC Finance Ltd

Younger people are finding it almost impossible to get themselves onto the property ladder. We’ve conducted a study to find out why.
abcfinance.co.uk abcfinance.co.uk

generation-rent-graphs-01.jpg


YearAv. Property PriceAv. SalaryProperty value to Income Ratio
199688,000£ 24,709.00 3.55
199795,000£ 26,100.00 3.63
1998106,000£ 27,278.00 3.90
1999122,000£ 27,913.00 4.36
2000143,000£ 29,623.00 4.82
2001157,000£ 30,341.00 5.17
2002180,000£ 32,733.00 5.51
2003215,000£ 33,635.00 6.39
2004237,000£ 34,037.00 6.96
2005244,000£ 35,461.00 6.87
2006257,000£ 36,621.00 7.01
2007278,000£ 37,397.00 7.44
2008285,000£ 38,670.00 7.37
2009274,000£ 36,420.00 7.52
2010309,000£ 37,689.00 8.21
2011301,000£ 36,240.00 8.32
2012303,000£ 35,421.00 8.56
2013305,000£ 34,735.00 8.78
2014330,000£ 36,153.00 9.13
2015356,000£ 36,875.00 9.66
2016375,000£ 38,078.00 9.84
2017379,000£ 37,956.00 9.99
2018382,000£ 37,330.00 10.23
2019381,000£ 37,724.00 10.09
2020404,000£ 39,218.00 10.31
2021426,000£ 38,994.00 10.91
 
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We've got Guardiola said:
The current situation isn't a temporary economic situation caused by high interest rates, it's permanent! IE, young people will permanently never be able to afford a house because the mathematics are worsening. The only hope for these people is to continue working and move up the career ladder but most will never ever achieve this. There is a difference between difficult and impossible.

I said this in the other thread, my dad was a welder his entire life from 18. He bought his first house at 23, he didn't have to move up rungs of a career ladder nor did he need to eat beans whilst saving for 10 years. My mum worked 15hrs per week and she otherwise stayed at home to look after us. This kind of story is complete fantasy today.

Do you think any of the below is normal? The last column of the table is important and illustrates precisely the financial difficulties that young people face. And yes, the full intention of my posts is to illustrate that quite clearly older people deflect because they do not give a shit and often it's because they stand to benefit.

abcfinance.co.uk

The Truth Behind ‘Generation Rent’ - ABC Finance Ltd

Younger people are finding it almost impossible to get themselves onto the property ladder. We’ve conducted a study to find out why.
abcfinance.co.uk abcfinance.co.uk

generation-rent-graphs-01.jpg


YearAv. Property PriceAv. SalaryProperty value to Income Ratio
199688,000£ 24,709.00 3.55
199795,000£ 26,100.00 3.63
1998106,000£ 27,278.00 3.90
1999122,000£ 27,913.00 4.36
2000143,000£ 29,623.00 4.82
2001157,000£ 30,341.00 5.17
2002180,000£ 32,733.00 5.51
2003215,000£ 33,635.00 6.39
2004237,000£ 34,037.00 6.96
2005244,000£ 35,461.00 6.87
2006257,000£ 36,621.00 7.01
2007278,000£ 37,397.00 7.44
2008285,000£ 38,670.00 7.37
2009274,000£ 36,420.00 7.52
2010309,000£ 37,689.00 8.21
2011301,000£ 36,240.00 8.32
2012303,000£ 35,421.00 8.56
2013305,000£ 34,735.00 8.78
2014330,000£ 36,153.00 9.13
2015356,000£ 36,875.00 9.66
2016375,000£ 38,078.00 9.84
2017379,000£ 37,956.00 9.99
2018382,000£ 37,330.00 10.23
2019381,000£ 37,724.00 10.09
2020404,000£ 39,218.00 10.31
2021426,000£ 38,994.00 10.91
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£426000 is nowhere near the average property price which is actually £292000 in England.

If you want to know the actual values try using the nationwide house price index.
 
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hilts said:
Did you just do the I'm considerably richer than you bit? Haha
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No pall my wife and I worked fukin hard and long hours and put our children first if that's a crime fuck you.
I was a hgv driver my wife who held down two jobs was a nursery teacher.
If you stopped fukin moaning on here about what other people get or not get you may get some graft done yourself. Ha Ha
 
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denislawsbackheel said:
They say ignorance is bliss and doesn’t this post prove it.

When interest rates hit 15% I was bricking it. It made my house unaffordable. I was so glad to fix for 10 years when they came down. I could just manage that. Of course it was the wrong decision in hindsight as rates slowly dropped.

We saw the property crash where it took years to sell properties for what we paid for them.
We had no spare money.
We had no holidays for ten years. We ran a ten year old car that I had to borrow money to pay for servicing. We paid 30% income tax.

You weren’t there as your uninformed post illustrates.
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Absolutely spot on, almost the same post as mine. Some people have their heads so firmly up their own arses all they see is their own shit.
 
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