One in three families

[truman 10]

Was University free at some point? I clearly missed that???

 

Err yes ..at one point you even got a grant to attend....but that was in the days before "they" decided it would be a good idea for half the kids to go there....

Edited August 10, 2016 by truman

[Penistone999 10]

Currently 6 months but there have been times when I have been hanging about waiting for banks to open to move money from point A to point B to keep very demanding wolves from the door. We are circling the wagons at tinfoil towers ready for the upcoming financial apocalypse so there is no large expenditure because I'm not going through that again.

 

Never heard of online banking ?

 

There`s no need for anyone in this day and age to go into a bank.

[I1L2T3 10]

Was University free at some point? I clearly missed that???

 

Yes it was. I had my fees paid and got a grant. I left uni with £2k of debt in the late 80s and even that £2k was avoidable but I wasn't great with cash in those days. Then I went on to do a masters in the 90s on a research council studentship. All fees paid and a generous living allowance. No debt from that one.

 

Totally different world now. Even by the early 90s the grant was declining. I wasn't as well off as my uncle who was at uni in the 70s when his grant was enough to run a car and live reasonably comfortably in digs.

[tinfoilhat 11]

Never heard of online banking ?

 

There`s no need for anyone in this day and age to go into a bank.

 

Not in the mid 90s clever dick!

[Ms Macbeth 73]

Yes it was. I had my fees paid and got a grant. I left uni with £2k of debt in the late 80s and even that £2k was avoidable but I wasn't great with cash in those days. Then I went on to do a masters in the 90s on a research council studentship. All fees paid and a generous living allowance. No debt from that one.

 

Totally different world now. Even by the early 90s the grant was declining. I wasn't as well off as my uncle who was at uni in the 70s when his grant was enough to run a car and live reasonably comfortably in digs.

 

Sounds like my son. When he finished Uni in the early 90s with a small amount of student debt he struggled to find a reasonable job. He was fortunate to get an EU bursary to do a masters in IT, and he's never looked back with regards to work. Repaying the student loan was barely noticeable.

 

Moving on, my grandchildren are all quite young, and I wonder what their options will be when they leave school. They are the first generation in our family (and I suspect in many others) with grandparents who own houses. It's quite possible that inheritance will play a part in their future.

[Love2print 10]

Moving on, my grandchildren are all quite young, and I wonder what their options will be when they leave school. They are the first generation in our family (and I suspect in many others) with grandparents who own houses. It's quite possible that inheritance will play a part in their future.

 

I had one set of grandparents that owned and one council. My parents and in laws both own. One was bought private and the other off the council - which is something that my paternal grandparents could not afford even with the discount.

 

I don't have a pension (I don't currently work) but my parents say don't worry about it because you will get half our house. But there is no guarantee because they might need to fund future care needs.

 

I am sure they are many others like me, especially women, who either don't have a pension pot or only a small one.

 

Having to rely on others for future income does not make me feel comfortable and I do hope one day I can save for the long term future.

[tzijlstra 11]

I had one set of grandparents that owned and one council. My parents and in laws both own. One was bought private and the other off the council - which is something that my paternal grandparents could not afford even with the discount.

 

I don't have a pension (I don't currently work) but my parents say don't worry about it because you will get half our house. But there is no guarantee because they might need to fund future care needs.

 

I am sure they are many others like me, especially women, who either don't have a pension pot or only a small one.

 

Having to rely on others for future income does not make me feel comfortable and I do hope one day I can save for the long term future.

 

Those that have pension pots (like my wife) are seeing them slashed on a continuous basis. We've now taken matters in our own hands re. pensions, it is the only way to ensure it doesn't all get squandered.

[Cyclone 10]

I had one set of grandparents that owned and one council. My parents and in laws both own. One was bought private and the other off the council - which is something that my paternal grandparents could not afford even with the discount.

 

I don't have a pension (I don't currently work) but my parents say don't worry about it because you will get half our house. But there is no guarantee because they might need to fund future care needs.

 

I am sure they are many others like me, especially women, who either don't have a pension pot or only a small one.

 

Having to rely on others for future income does not make me feel comfortable and I do hope one day I can save for the long term future.

 

Unless they live in a mansion then half a house in Sheffield is unlikely to fund your entire pension requirements.

There are steps you can take to protect the property from being used to fund carehome fee's though.

[truman 10]

Those that have pension pots (like my wife) are seeing them slashed on a continuous basis. .

 

Really...? maybe I should put you in touch with my IFA..

[Cyclone 10]

Those that have pension pots (like my wife) are seeing them slashed on a continuous basis. We've now taken matters in our own hands re. pensions, it is the only way to ensure it doesn't all get squandered.

 

How exactly do you mean?

[Love2print 10]

Unless they live in a mansion then half a house in Sheffield is unlikely to fund your entire pension requirements.

There are steps you can take to protect the property from being used to fund carehome fee's though.

 

Yes now that you have reminded me my parents did mention they had done something to help protect it. Think its that when one of them dies then that half goes to me and my sister rather than to the surving parent. Not sure how that all works and what the implications are.

 

I have no idea what I would need to save as its irrelevant as I have no money to save. If the both died today then I would estimate I would recieve around 100k ish, not sure but if I invested it in something then I could get a reasonable pension? But of course this depends on when they die and house prices.

[tzijlstra 11]

Really...? maybe I should put you in touch with my IFA..

 

How exactly do you mean?

 

Talking long term here. Her pension age got pushed up by 7 years, the various providers here and in the Netherlands lost a huge amount in the financial crisis and the USS is constantly sending out signals that it is struggling. Now the BoE actions are pushing down the yields on long term bonds which form the basis for most pension funds.

 

So we are reorganising things, limiting exposure, reducing payments to the pension funds and investing in other things that have a long term return. My pension is completely piecemeal anyway due to the way my career has developed, so I'm considering just lump-summing it all (taking the hit) and putting it into shares.