Ageism should we tolerate it?

[Dis86]

Not in the bank per se but they've probs got a net worth of at least that when you include home, pension, investments etc.. (at least at the start of their retirement).

Actually...double it. The average over 60 in the UK has a net wealth of £950k.

Average household wealth by age	Physical wealth	Property wealth (net)	Private pension wealth	Financial wealth (net)	Total wealth
20 to 24	£20,400	£28,000	£10,400	£2,600	£61,700
25 to 29	£27,800	£79,000	£23,300	£3,800	£134,200
30 to 34	£35,900	£65,000	£45,900	£14,500	£161,500
35 to 39	£41,700	£112,000	£81,600	£28,400	£264,100
40 to 44	£53,000	£161,000	£147,400	£76,100	£437,700
45 to 49	£53,400	£189,000	£230,700	£50,100	£523,600
50 to 54	£58,300	£208,000	£309,000	£59,700	£635,100
55 to 59	£60,700	£250,000	£417,900	£81,700	£810,000
60 to 64	£63,500	£283,000	£483,700	£116,900	£947,600
65+ years	£57,300	£284,000	£275,600	£113,600	£730,900

 

[Mysterae_]

It's quite admiral to try and help those that need it, however there's no doubting it that some over 60's need the help but many don't. It's a bit careless to give discounts to all over 60's carte blanche, as can be seen above it'll be exploited by those that can. So how are you going to differentiate between the needy and the needless, show bank statements at the till?

If we're not careful we'll end up with some sort of Black Mirror-esque social scoring system, the tories would ******* love that.

 

[Werewolf]

They're the wealthiest demographic in this country. How is discounting things for them right?

Really?

There are literally millions of them on basic pensions, with at best something like a pension credit and a roof over their heads that they have to maintain often with little or no assistance.

As various others have pointed out you can get a student discount, an education discount (if say you work at a school/uni), discounts for being in various clubs, discounts for being disabled, young, elderly for travel etc, then there are the discounts for being in the NHS, emergency services, some places do them for if you're unemployed, or have young children.
IIRC B&Q for example have had a "Diamond" club that gives OAP's a 10% discount one day a week.

 

[grudas]

Discount should be applied per household/person basis. Not depending on age.

 

[Werewolf]

It's quite admiral to try and help those that need it, however there's no doubting it that some over 60's need the help but many don't. It's a bit careless to give discounts to all over 60's carte blanche, as can be seen above it'll be exploited by those that can. So how are you going to differentiate between the needy and the needless, show bank statements at the till?

If we're not careful we'll end up with some sort of Black Mirror-esque social scoring system, the tories would ******* love that.

I suspect most of the "Wealthy" over 60's are unlikely to be shopping in Iceland
Iceland's typical customer base tends to be those who may be buying relatively small amounts, often without access to a car, hence the location of most of their stores and why they were from memory the first UK chain to do free home deliveries going back someting like 20 years.

 

[Dis86]

Really?

There are literally millions of them on basic pensions, with at best something like a pension credit and a roof over their heads that they have to maintain often with little or no assistance.

As various others have pointed out you can get a student discount, an education discount (if say you work at a school/uni), discounts for being in various clubs, discounts for being disabled, young, elderly for travel etc, then there are the discounts for being in the NHS, emergency services, some places do them for if you're unemployed, or have young children.
IIRC B&Q for example have had a "Diamond" club that gives OAP's a 10% discount one day a week.

Really. I've posted the links above that prove it. One of those is from the ONS who I'm pretty sure have a good grasp of things.
You can get discounts for many things, that doesn't mean the reasoning is right. Pretty sure if I had a business and decided black people paid double I'd rightfully get lambasted. Both age and race are protected characteristics so are equitable so why is age acceptable to discriminate upon for things like this?
It's worth noting a store actually did something similar. They charged men more. The store went out of business.

 

[peterwalkley]

Its probably cheaper for them to get extra sales that way than bear the cost of home deliveries of their frozen goods.

 

[HangTime]

Actually...double it. The average over 60 in the UK has a net wealth of £950k.

Average household wealth by age	Physical wealth	Property wealth (net)	Private pension wealth	Financial wealth (net)	Total wealth
20 to 24	£20,400	£28,000	£10,400	£2,600	£61,700
25 to 29	£27,800	£79,000	£23,300	£3,800	£134,200
30 to 34	£35,900	£65,000	£45,900	£14,500	£161,500
35 to 39	£41,700	£112,000	£81,600	£28,400	£264,100
40 to 44	£53,000	£161,000	£147,400	£76,100	£437,700
45 to 49	£53,400	£189,000	£230,700	£50,100	£523,600
50 to 54	£58,300	£208,000	£309,000	£59,700	£635,100
55 to 59	£60,700	£250,000	£417,900	£81,700	£810,000
60 to 64	£63,500	£283,000	£483,700	£116,900	£947,600
65+ years	£57,300	£284,000	£275,600	£113,600	£730,900

Interesting stats. The bit that stands out to me is just how much money young people have in property, e.g. 25-29 year olds sitting on an eye-watering £79k (more than 30-34 year olds). Would be interesting to see how this has changed over time.

Also when you say "average over 60 in the UK has a net wealth of £950k" that's not really the case, just that microgeneration of 60-64, vast majority of over 60s will fall in the bucket with under £750k. There's nearly 12m people aged 65+ compared to about 3.5m aged 60-64.

 

[Dis86]

Interesting stats. The bit that stands out to me is just how much money young people have in property, e.g. 25-29 year olds sitting on an eye-watering £79k (more than 30-34 year olds).

Tbh I probably had similar at that age due to buying with my partner when I was 26 or 27 and having the value increase vs what I owed on the mortgage. I imagine the blip in the 30s is due to divorces (the whole over 50% of marriages ending in divorce thing is amazingly interesting as it turns out the vast majority of divorces happen relatively shortly after the marriage, if you get past that period then the chance of divorce drops off a cliff).

 

[Lima]

Some seriously confused bitter people in this thread.

Take the value of property out of the above table as you can’t spend that in Iceland….average 65 year old has £400k ‘cash’ to last them say till there 80ish. That’s £26k a year. People in here making out that people that have grafted all their working life are millionaires when in actual fact they’ve built up a pot of £26k a year to live off till they die. Get a grip, moaners.

 

[Em3bbs]

Ahhh the weekly "OLD PEOPLE HAD IT SO MUCH BETTER" thread.

 

[Dis86]

Some seriously confused bitter people in this thread.

Take the value of property out of the above table as you can’t spend that in Iceland….average 65 year old has £400k ‘cash’ to last them say till there 80ish. That’s £26k a year. People in here making out that people that have grafted all their working life are millionaires when in actual fact they’ve built up a pot of £26k a year to live off till they die. Get a grip, moaners.

Well you can, because you can sell a property.
Add to that private pension wealth the state pension and the average pensioner earns more than the average working person.
Get a grip, learn maths. We're not confused, you're just not very clever.

 

[Roar87]

Some seriously confused bitter people in this thread.

Take the value of property out of the above table as you can’t spend that in Iceland….average 65 year old has £400k ‘cash’ to last them say till there 80ish. That’s £26k a year. People in here making out that people that have grafted all their working life are millionaires when in actual fact they’ve built up a pot of £26k a year to live off till they die. Get a grip, moaners.

You can just buy a nice 3 bedroom semi-detached for £250k away from the South East and then you're pretty much absolutely chilling

 

[dlockers]

Ahhh the weekly "OLD PEOPLE HAD IT SO MUCH BETTER" thread.

And the usual old boomers claiming how tough they had it.

 

[Em3bbs]

And the usual old boomers claiming how tough they had it.

I didn't have it tough, I'm Gen X. Taught by boomer parents to work hard, had and have a nice life.

 

[dlockers]

B&Q used to do this every Wednesday - it was hilarious. You'd see so many blokes (30, 40, 50+) dragging their elderly mothers/fathers around as they stocked up on building materials.

IIRC B&Q for example have had a "Diamond" club that gives OAP's a 10% discount one day a week.

Mentioned this earlier - I used to be one of those people dragging my Mum around to buy aggregate. They stopped it unfortunately

 

[dlockers]

I didn't have it tough, I'm Gen X. Taught by boomer parents to work hard, have a nice life.

Location: "City of London"

Reminds me of the Donald Trump - I took a "small one million dollar loan from my father"

 

[arknor]

They're the wealthiest demographic in this country. How is discounting things for them right?

no wealthy people are splurging out in Iceland though are they

 

[Em3bbs]

Location: "City of London"

Reminds me of the Donald Trump - I took a "small one million dollar loan from my father"

My father was an RAC man before he retired, I wish he'd have somehow lobbed me a million!

 

[dlockers]

My father was an RAC man before he retired, I wish he'd have somehow lobbed me a million!

I have my violin out for you and your "struggle"