The Golden Generation, It's Coming To An End Now, Big Time.

[Bargepole23 337]

17 minutes ago, Chekhov said:

Nobody said it was all easy, because life is not easy, and part of the problem with society these days is that it is trying, certainly by implication, to make life easy. Or more accurately : "life without upset" (which does not exist) BY ORDER.

 

I lived through the 70s, that era had its problems, but I liked them much more than this modern world of ours. And most people old enough to remember them think the same

 

>Everyone else is welcome to think differently from me<

 

>>and I can be as gleeful as I want,  which I will do anyway<<

 

Not even sure about that any more, what with massive care home bills !

Me too, as a child, and it was great, but how is that comparable with life as a teenager/carefree 20 something in the 80's/early 90's, and even more so as a homeowner/parent/worker from then on? Just different phases of life.

 

I've enjoyed it all, and continue to enjoy life.

[HeHasRisen 3,411]

Ah, this was just another thread to try and shoehorn more Covid references onto the forum then.

 

Sigh.

[lobster 54]

You missed out Student Grants  - Higher Education was free plus you got a  living grant . Best 4 years of my life being a student . Leaving Uni with a massive debt hanging round your neck is no start in life

[El Cid 221]

2 hours ago, Chekhov said:

Not even sure about that any more, what with massive care home bills !

But only around 5% need to go into a car home? My mother spent a few years in a car home, father did not, females live longer and are morley likely to need care.

I had eight aunts/uncles, two needed care, one of those had no children.

[Chekhov 488]

1 hour ago, El Cid said:

But only around 5% need to go into a car home? My mother spent a few years in a car home, father did not, females live longer and are morley likely to need care.

I had eight aunts/uncles, two needed care, one of those had no children.

Really, that's good news, I am desperate not to end up in a care home. No disrespect to care homes but it just would not suit my personality, I need control of my own life.

 

How many need extensive home helps and stuff ? Though I accept that is no where near as expensive as a care home.

[Mister M 1,628]

"OMG ! Pensions ! Many, particularly in the public sector has index linked, or, even better, final salary pension schemes. It's almost unbelievable isn't it !"

 

Just to clarify many of these final salary pension schemes have been closed in the public sector. Mine was closed back in 2005. 

[Chekhov 488]

54 minutes ago, Mister M said:

"OMG ! Pensions ! Many, particularly in the public sector has index linked, or, even better, final salary pension schemes. It's almost unbelievable isn't it !"

 

Just to clarify many of these final salary pension schemes have been closed in the public sector. Mine was closed back in 2005. 

Exactly, and that's just one the reasons why the present retired generation is the most fortunate ever.

[Vrsaljko 207]

8 hours ago, geared said:

and yet you've dealt with the global economy crashing twice, a huge cost of living crisis, a global pandemic, multiple wars, and the country tearing itself away from it's largest trading partner.

 

and you're not even 40 yet.

Yet I've never been out of work since I was 16 until a few months ago when I resigned, bought my own house at 25 and would say I'm doing alright generally. Obviously some people have it worse depending on where they live etc, but you were directly addressing my own personal circumstances. I don't choose to see myself as a victim really.

 

I think a lot of people need to be more sensible with the decisions they make instead of just blaming the world. Especially people who go and do a nonsense degree, end up with a load of student debt and then do a menial job which didn't require a degree, all while burning money on rent and wondering why they can't get anywhere.

 

 

[geared 321]

27 minutes ago, Vrsaljko said:

but you were directly addressing my own personal circumstances. I don't choose to see myself as a victim really.

I don't think it makes you a victim at all.  You've had plenty to deal with, and like everyone else, in general have made it work.

 

You hear the old war stories from boomers about the 70's strikes and high interest rates in the 80's like they're the sole survivor of a global catastrophe.

[Organgrinder 1,946]

5 minutes ago, geared said:

I don't think it makes you a victim at all.  You've had plenty to deal with, and like everyone else, in general have made it work.

 

You hear the old war stories from boomers about the 70's strikes and high interest rates in the 80's like they're the sole survivor of a global catastrophe.

You've perhaps heard it wrong .  It was the war that was a global catastrophe but we coped.     We coped with the  strikes and Interest rates too.

Everything kept going when it snowed too until we got to the modern age and then it was the "wrong kind of snow".

.

 

[lindylou53 18]

19 hours ago, Chekhov said:

I have often though the present generation of retired people really are the Golden Generation.

They are the luckiest generation to have ever lived and, particularly if the Nett Zero zealots have their way (restricting us all from travelling), they may possibly be the luckiest generation who will ever live.

Do they realise how fortunate they are ?

 

Many bought their house before the prices sky rocketed, meaning they not only owned a house but would have been able to down size and trouser a tidy sum. They even got MIRAS (Mortgage Rate Interest Relief At Source), i.e. the government let them claim some of the mortgage interest off their tax ! In fact over a million were able to buy their own council house at  a massive discount !

 

At a time when when life expectancy was rising significantly, but the retirement age had not yet caught up, most were able to retire at only 65, and the women even younger at only 60. Some were even able to take early retirement on a full pension (my own Dad did, very wisely) but even those who worked to the "full retirement age" would have had, on average, about 25 years of retirement. Think about that...... 25 years, and much of it in good health ! How many people could expect that now ? 

 

OMG ! Pensions ! Many, particularly in the public sector has index linked, or, even better, final salary pension schemes. It's almost unbelievable isn't it ! Even those on just the state pension have had the benefit of the Triple lock which ensures that, relative to other generations, pensioners have been getting better off.

 

The health of this generation is better than any before, and they are the first generation to have state paid for healthcare from cradle to grave. In fact it is entirely possible what is available on the NHS will actually start to reduce over the coming years, thus they were able to use the NHS at its most generous.

 

OK it was only available to the brightest, but, wait for this (it's almost like fantasy land) : free university education ! Get a degree with no huge debt ! ? ! In fact there was even a student grant to assist with living expenses.

Did that really exist, surely not ? ! ?

 

The Golden Generation were able to take advantage of air fares coming down and their wealth going up, to do unprecedented amounts of travelling. Even "working class" pensioners often jet off to Spain for months during the winter, something unthinkable even 20 or 30 years ago. Cheap and/or unlimited travel may not last much longer thanks to Nett  Zero fanatics, and, rather selfishly, some retirees are actually pleased about it (e.g. here) ! Even motoring looks set to become much more expensive, in fact some academics are even suggesting petrol, household energy, meat and flights should be rationed.....

 

A bit more arguable I accept, but significant for many, including me. They were living most of their lives before Health & Safety overkill and general fear of everything took hold and started limiting so much of life's little freedoms (and not so little ones as well).

And they could say pretty much what they wanted, nor did they have to worry if their little joke about "an Englishman a Scotsman and an Irishman" would have them branded a bigot. Lastly, they could get into a drunken snog without worrying unduly they would later get accused of sexual assault......

 

Added (courtesy of Jack Grey), they never had to fight a war, and most of them missed the call up for National Service, plus they had MIRAS.

 

Yes, lucky is not the word, exceptionally fortunate would be closer to the truth....

You missed out the golden age of music - not gonna hear the likes of The Beatles or the Rolling Stones lasting 50 years again.

[El Cid 221]

3 hours ago, Mister M said:

"OMG ! Pensions ! Many, particularly in the public sector has index linked, or, even better, final salary pension schemes. It's almost unbelievable isn't it !"

 

Just to clarify many of these final salary pension schemes have been closed in the public sector. Mine was closed back in 2005. 

At least we now have 100% of workers with 8% workplace pension contibutions instead of 25% with 20% pension contributions, plus the state pension has risen 18% more than inflation since 2011.

Some people just like to moan 

 

https://ifs.org.uk/publications/triple-lock-uncertainty-pension-incomes-and-public-finances