Ageism should we tolerate it?

[dowie]

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 seem to have ignored the state pension which is an additional 10k a year… so 36k per year tax free… equivalent to someone earning circa £48,000 per year in salary. Though most people earning that via salary probably have a mortgage or rent to pay.

Oh and that’s ignoring any equity release on their property or just downsizing.

 

[GlitterBalls]

No different to a OAP cod and chips at the chippy.. good to see someone doing something to combat the rising costs of living. Plenty of OAP's struggle to live on their pension etc, not every pensioner is loaded.

 

[Dis86]

no wealthy people are splurging out in Iceland though are they

My grandmother has a net worth of way north of a million. She shops there every week. And home bargains. And every chuffing charity shop in North shields.

 

[Dis86]

You seem to have ignored the state pension which is an additional 10k a year… so 36k per year tax free… equivalent to someone earning circa £48,000 per year in salary. Though most people earning that via salary probably have a mortgage or rent to pay.

Oh and that’s ignoring any equity release on their property or just downsizing.

That's neglecting still that that property value is likely to be made up of more than one property. Most of us at work have more than one property with the intent of selling them during retirement to top up any pensions.

 

[HangTime]

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).

Surely divorces shouldn't impact it that much though, I mean say a couple have £150k equity in a property, that's £75k each. They get divorced, the property is sold, they get £75k each minus fees etc. Maybe they don't re-invest in property I suppose but on that table their Physical and Personal wealth hasn't spiked massively.

Also looking here the divorce rate doesn't change that much by age: https://www.graysons.co.uk/advice/d...-rise-couples-divorcing-amid-general-decline/
I mean 30-34, 35-39, 40-44, 45-49 is all much of a muchness, even 25-29 isn't that far behind.

Leaving aside the dip in age 30-34 I'm just genuinely surprised at 25-29 having £79k, for a couple that's £158k of equity, and that's the AVERAGE, so with all those people complaining they can't get on the property ladder in their 20s on £0, there must be some 20-somethings absolutely rolling in property wealth. Would be good to see the stat for median as well as mean, it might be biased by some people with property empires.

 

[Berry Merjinik]

If they are shopping in Iceland they aren't wealthy I suspect.
Some of you must have very wealthy and sheltered upbringings if you think ALL old people are rich and living easy.

 

[Lima]

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.

Using the example in the table the average person has £284k property. You say sell a property like that makes them minted? Downsize to what? £150k house? So all oaps should up roots when old and frail and buy a property in the far north or some random rubbish town in the uk, away from their family and friends? That way they can release like £50k equity from downsizing to top up their £400k pot and live like kings.

The average salary in the uk is above £30k so what are you on about, oaps earn more?

Throw personal insults all you want about my intelligence; it’s obvious you are massively bitter about your own circumstances and blame and lash out at anyone and anything you feel might have it better than you (whether they actually do or not).

We are talking about a budget frozen food grocery offering a discount to the typical struggling clientele that use it. Waitrose aren’t offering an OAP discount.

 

[Lima]

You seem to have ignored the state pension which is an additional 10k a year… so 36k per year tax free… equivalent to someone earning circa £48,000 per year in salary. Though most people earning that via salary probably have a mortgage or rent to pay.

Oh and that’s ignoring any equity release on their property or just downsizing.

That’s a fair point. But there are many many pensioners that aren’t in this boat and they are probably the ones shopping at Iceland needing a discount.

Also you are forgetting that any income over the tax free allowance gets taxed so by the time pensioners get their state pension it doesn’t take more than a few K to be paid from the private pension before pensioners start losing 20% off their private pension withdrawal.

 

[BUDFORCE]

I'd be fine with it if they made this only apply during normal 9-5 working hours.

So when people with jobs who have no other choice but to go shopping on the weekend don't find the isles clogged up with ******* coffin dodgers having a social.

 

[GlitterBalls]

Iceland actually do some nice nosh tbh, their takeaway frozen Indian curries are brilliant.

 

[Dis86]

Using the example in the table the average person has £284k property. You say sell a property like that makes them minted? Downsize to what? £150k house? So all oaps should up roots when old and frail and buy a property in the far north or some random rubbish town in the uk, away from their family and friends? That way they can release like £50k equity from downsizing to top up their £400k pot and live like kings.

The average salary in the uk is above £30k so what are you on about, oaps earn more?

Throw personal insults all you want about my intelligence; it’s obvious you are massively bitter about your own circumstances and blame and lash out at anyone and anything you feel might have it better than you (whether they actually do or not).

We are talking about a budget frozen food grocery offering a discount to the typical struggling clientele that use it. Waitrose aren’t offering an OAP discount.

You've continued to demonstrate your lack of intelligence in this post. Beautiful. You've already had two people explain your failings on the working income vs pension front and still failed to grasp it.
You cannot complain you are poor when you are sitting on assets. It's like me having a ton of gold bars here but complaining I can't pay the bills because it would mean selling them. Damn straight that's what you do. 284k is above the average property value for the country. Thats typically a 3 bedroom house. A single old person or retired couple can get along perfectly well in a home with fewer rooms so yes, downsize.

 

[Semple]

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 could certainly downsize to spend it in Iceland. Also not sure if you've deliberately missed that most or a good portion of that would be net, so grossing about 34k a year which is over the average. So not quite so poor after all.

 

[Berry Merjinik]

What about all the people living in Council houses?

 

[Dis86]

Surely divorces shouldn't impact it that much though, I mean say a couple have £150k equity in a property, that's £75k each. They get divorced, the property is sold, they get £75k each minus fees etc. Maybe they don't re-invest in property I suppose but on that table their Physical and Personal wealth hasn't spiked massively.

Also looking here the divorce rate doesn't change that much by age: https://www.graysons.co.uk/advice/d...-rise-couples-divorcing-amid-general-decline/
I mean 30-34, 35-39, 40-44, 45-49 is all much of a muchness, even 25-29 isn't that far behind.

Leaving aside the dip in age 30-34 I'm just genuinely surprised at 25-29 having £79k, for a couple that's £158k of equity, and that's the AVERAGE, so with all those people complaining they can't get on the property ladder in their 20s on £0, there must be some 20-somethings absolutely rolling in property wealth. Would be good to see the stat for median as well as mean, it might be biased by some people with property empires.

Unfortunately for those I know that got divorced young the house tended to get sold because neither party could afford to buy out the other or, where one did they had to do it by adding to the mortgage which significantly decreased their property wealth as they had very little collateral.
Most of them just peed the money up the wall on holidays, drink and cars.

 

[Dis86]

What about all the people living in Council houses?

Unless they're over 60 - ****'em seems to be the approach.

 

[Semple]

Iceland actually do some nice nosh tbh, their takeaway frozen Indian curries are brilliant.

I only discovered Iceland a couple of years ago, the one that was in my home town growing up was the other side of town so it was too much of a trek to get to. But they have some fantastic things in there, and not everything is cheap/basic brand, they also sell a lot of branded foods.

 

[HangTime]

Yeah I did wonder if there might be a bit of a blowout 'wasting' the cash on things that don't add to Personal wealth, I guess it doesn't take much to make a dent in it.

Still flabbergasted how much property wealth the average person in their mid-late 20s has accumulated in the first place though. I mean crikey, £158k for a couple, even if they have a house worth well above national average at £300k that's still under 50% LTV (appreciating some of the wealth will be coming from multiple properties rather than a primary residence, and that not all property owners are couples so would have higher LTV).

 

[Lima]

Dis86, You have some weird keyboard warrior complex. Nobody has disproved anything i have said. Dowie made a fair point though still wasn’t exactly truly reflective of reality which is just because it’s a complex issue to work out.

The property prices you are talking about are nonsense. Other than 1 bedroom flats in the southern half of the uk you are restricting anyone over 65 to live north of Leicester. Great plan and amazingly inconsiderate to people’s emotional and community needs.

Also comparing having a property that you live in, that provides you shelter to that of an asset such as gold bars is ridiculous.

Why do you hate the previous generation so much? I’m happy with my life, it’s very comfortable. My parents retirement is comfortable, but I know loads of oaps that are extremely hard up and I don’t begrudge some Iceland shopping OAP for getting a discount off their frozen meals.

Take a look at yourself as I reckon you got some deep routed issues. Keep hating your parents… don’t worry, they’ll die soon and leave entitled you to the wealth they accumulated but didn’t use.

 

[GlitterBalls]

I only discovered Iceland a couple of years ago, the one that was in my home town growing up was the other side of town so it was too much of a trek to get to. But they have some fantastic things in there, and not everything is cheap/basic brand, they also sell a lot of branded foods.

Yeah I shop there a lot to be honest. Their pizzas are nice too. These were amazing but they stopped them now:

Highly recommended their Jalfrezi and Madras too. The chicken in them are usually big chunks and you get a considerable helping, chicken is decent too not rubbery crap.

 

[arknor]

What about all the people living in Council houses?

not everyone living in a council house is hard up