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

[geared]

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.

[Guest]

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]

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]

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

[Mister M]

2 hours ago, Chekhov said:

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

Unless they're in need of social care: IIRC last year there were nearly 170,000 unfilled vacancies in the social care sector.

[Palomar]

Golden Generation? With a bit of luck we'll become practically immortal sometime in the next few decades, not to mention achieving gene-edited physical perfection. 

 

The Golden Generation need to start freezing their bodies in preparation, I'm thinking of taking on the old Farmfoods place in Woodseats and offering the service, in fact I can do people's pets down our cellar now from £1k a year, no horses.

[geared]

16 hours ago, Organgrinder said:

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".

.

 

Which war is this then?

 

You're not refereeing to the second world war are you??  

[Padders]

7 minutes ago, geared said:

Which war is this then?

 

You're not refereeing to the second world war are you??  

Germany got a red card....

[Chekhov]

16 hours ago, El Cid said:

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

Don't get me onto "automatic enrolment" employer pensions, the biggest "shuffle off" of state responsibility ever.

There is no way employers should be forced to provide a pension, whatever happened to personal responsibility ? If the state thinks everyone should have an earnings related pension they should organise it themselves not hand it over to the employers to sort out (along with everything lese they have got to do) and pay for it. And I thought the state did used to : SERPS (State Earnings Related Pension Scheme).....

But, as it happens, you are wrong anyway. Many employees opt out of the work pension because they do not want to put their share in. Then very employer has automatically re-enrol all those staff who do not want the pension anyway every three years and go through all bureaucracy of re cancelling it ! For a small employer like myself (I have to do everything, I do not have an HR dept) it's an absolute PITA and a complete waste of everyone's time (esp mine). 

Edited November 10, 2023 by Chekhov

[Chekhov]

11 hours ago, Palomar said:

Golden Generation? With a bit of luck we'll become practically immortal sometime in the next few decades, not to mention achieving gene-edited physical perfection. 

 

The Golden Generation need to start freezing their bodies in preparation, I'm thinking of taking on the old Farmfoods place in Woodseats and offering the service, in fact I can do people's pets down our cellar now from £1k a year, no horses.

Living forever, sounds like a nightmare to me, esp if doing so in "an old body".

A couple of points from left field, if people really could live forever :

 

1 - It is likely they'd be even more risk averse than they are now. At the moment if one dies whilst, say, skiing (or looking at the steam loco with one's head out of the window...) it doesn't matter quite as much because one is going to die anyway....

 

2 - If people could live forever it is likey that having kids would be outlawed....