How the cost of living has changed from late 70's

How many people are there in final salary pensions? They can literally be taking out 500k+ if they retired at 60 and lived to 80 and they'd probably own a house and state pension.
 
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I would think every pensioner that retired around 60 must be taking home £3m - I have pocketed £1.5m since 2000 and believe me it isn't enough - We will be up poo street if you Z- ers stop paying tax.
 
I would think every pensioner that retired around 60 must be taking home £3m - I have pocketed £1.5m since 2000 and believe me it isn't enough - We will be up poo street if you Z- ers stop paying tax.

Tongue in cheek?

My gross income is currently around 25k with state pension part about 11k. So in five years I have had a bit over 125k. I do have a final salary pension element of about 14k which was for 27 years service which ended in 2009.
 
Tongue in cheek?

My gross income is currently around 25k with state pension part about 11k. So in five years I have had a bit over 125k. I do have a final salary pension element of about 14k which was for 27 years service which ended in 2009.
I remember 10 years ago asking my parents to help out to buy a place in London at the time I needed 30%.100k. they refused I asked them a few times over a period couple years, along with other issues.

They don't even spend their pension as they don't need it, their pension just accumulates in their bank, they retired early. 51 I think. Your generation and the one after made the most from property boom, Some like my parents took advantage of it.

I really think most not all from that generation and the one after are pretty selfish, they kept going on about how hard it was, I just don't see it.They seem to have so many financial opportunities gifted to them without actively seeking it.

Eventually I gave up, I told them I would never assist them in their later years, stuck to my word.. I walked away made my own way.in life.
 
I remember 10 years ago asking my parents to help out to buy a place in London at the time I needed 30%.100k. they refused I asked them a few times over a period couple years, along with other issues.

They don't even spend their pension as they don't need it, their pension just accumulates in their bank, they retired early. 51 I think. Your generation and the one after made the most from property boom, Some like my parents took advantage of it.

I really think most not all from that generation and the one after are pretty selfish, they kept going on about how hard it was, I just don't see it.They seem to have so many financial opportunities gifted to them without actively seeking it.

Eventually I gave up, I told them I would never assist them in their later years, stuck to my word.. I walked away made my own way.in life.
The entitlement is strong in this one.
 
I remember 10 years ago asking my parents to help out to buy a place in London at the time I needed 30%.100k. they refused I asked them a few times over a period couple years, along with other issues.

They don't even spend their pension as they don't need it, their pension just accumulates in their bank, they retired early. 51 I think. Your generation and the one after made the most from property boom, Some like my parents took advantage of it.

I really think most not all from that generation and the one after are pretty selfish, they kept going on about how hard it was, I just don't see it.They seem to have so many financial opportunities gifted to them without actively seeking it.

Eventually I gave up, I told them I would never assist them in their later years, stuck to my word.. I walked away made my own way.in life.

Wong you have it all wrong.
 
The entitlement is strong in this one.

Typical from the older generation, they can never admit they had a system where everything was free and in abundance.
It was pure greed in the 80s and 90s, but they will never admit to it.

All you have to do is look at the state pension age, north sea oil spent on keeping those accustom to the quality of life back then rather than create a sovereign fund, or the state asset giveaway.

But I do love the way they go on about high interest rates but always forget mention they could claim it back.

Truth is that generation destroyed this country.then they have the audacity to say they had it harder. They profited from the previous generations and destroyed the generations after. We are paying their bills.

With all the sell offs, the harder it is going to be for future generations. Future generations heading towards no pension, poor medical service etc. But lumped with all the liabilities.

They turned education into a business, from free education for all to pay to access. Devaluing higher education, everything else they touched, they destroyed.
 
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Typical from the older generation, they can never admit they had a system where everything was free and in abundance.
It was pure greed in the 80s and 90s, but they will never admit to it.

All you have to do is look at the state pension age, north sea oil spent on keeping those accustom to the quality of life back then rather than create a sovereign fund, or the state asset giveaway.

But I do love the way they go on about high interest rates but always forget mention they could claim it back.

Truth is that generation destroyed this country.then they have the audacity to say they had it harder. They profited from the previous generations and destroyed the generations after. We are paying their bills.

With all the sell offs, the harder it is going to be for future generations. Future generations heading towards no pension, poor medical service etc. But lumped with all the liabilities.

They turned education into a business, from free education for all to pay to access. Devaluing higher education, everything else they touched, they destroyed.
I can't say I agree with any of that really.
 
How many people were claiming in work benefits in the 70s compared to today?

Nobody as except for child allowance if you were working you did not get many benefits if any on the basis of today. There was a grant called family income supplement introduced in 1971 but that was for specific items I believe. As a single or unmarried there was very little.
 
All you have to do is look at the state pension age, north sea oil spent on keeping those accustom to the quality of life back then rather than create a sovereign fund, or the state asset giveaway.
Biggest mistake we made.

Norway's sovereign wealth fund owns about 1.5% of all of the world's listed companies now.

We spaffed it away.
 

In my opinion it is impossible to compare

It is not impossible to compare, pretty easy.
What I mentioned is just the tip of the iceberg. The list just goes on.

The government is using your tax money to create workforce competition.
( Bit of topic).

I was reading in the FT about the IMF wanting governments to step up debt relief efforts for Africa. The comments are completely right, 40 years of debt relief and still we are forking out our tax money to those countries. The west should have followed the same methodology the Chinese are using in Africa.

However debt relief comes at a cost and each generation of Western workers ends up paying more for it.

I am a big believer fix your home first and if there is anything left happy to help others, until then no hands outs for other countries, specially if they abuse it.

I saw a graph showing total ownership top 10 and the rest, over the past 60 years. While top 10 are gaining in share the rest are losing out.

The current generation and the ones that follow will have a tougher time. Their wealth will be tax more and as governments find new ways to tax people.

All the previous generations had various loopholes when working then the crackdown started from 1997 by Blairs party carried on by the Tories.
 
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Biggest mistake we made.

Norway's sovereign wealth fund owns about 1.5% of all of the world's listed companies now.

We spaffed it away.

Very typical of our government. The truth is that if we ran our personal finances like the government runs it's, they would call us incompetant and irresponsible.
 
We sold our house in Brum for 16k and bought this dilapidated semi for 15k

At the risk of pointing out the obvious, the UK's population in 1971 was 46.4 million and in 2021 it was 67.3 million, an increase of nearly 21 million - just under 50%. And the UK has not grown in physical size, nor has the buildable land increased to match (local exceptions like Aberdeen excepted). And people are increasingly living single. There is increased competition for existing land and that drives up prices.
 
So when I retired 23 yrs ago and collected my whacking great final salary pension I was ovewhelmed.


You retired 23 years ago? And you're still alive? Are you 98?

I'll be lucky to retire ever.

I have pocketed £1.5m since 2000 and believe me it isn't enough - We will be up poo street if you Z- ers stop paying tax.

£65,217 a year!?

That's almost double the average wage today. Honestly just do one.
 
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