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Thread: Grim statistics on retirement age and life expectancy

  1. #171
    Join Date: May 2009

    Location: gone away

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    I'm joe.

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    There are so many imponderables/uncertainties in life that's it's impossible to generalise. Marriages break down, people suffer poor health, children get into bad company. My own life has been, by most standards, easy, but I don't rush to judge or condemn those dealt a worse hand by fate or events. I made two sensible decisions from my point of view quite early in life: paying into a pension scheme from the age of 23, and buying a flat in a 'good' neighbourhood aged 26. The first means that I have financial security in retirement, the second meant that I could move up the property ladder before house prices went insane. It worked for me, but not everyone would have had those chances in the past, and very few will have them now.

  2. #172
    Join Date: Jan 2008

    Location: Wrexham, North Wales, UK

    Posts: 110,012
    I'm AudioAl'sArbiterForPISHANTO.

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    Quote Originally Posted by Joe View Post
    There are so many imponderables/uncertainties in life that's it's impossible to generalise. Marriages break down, people suffer poor health, children get into bad company. My own life has been, by most standards, easy, but I don't rush to judge or condemn those dealt a worse hand by fate or events. I made two sensible decisions from my point of view quite early in life: paying into a pension scheme from the age of 23, and buying a flat in a 'good' neighbourhood aged 26. The first means that I have financial security in retirement, the second meant that I could move up the property ladder before house prices went insane. It worked for me, but not everyone would have had those chances in the past, and very few will have them now.
    The property ladder point is a good one. Getting on it now is horrendously difficult for young people, and I sympathise with the struggles involved. It was much easier in your day and mine.

    In terms of your pension scheme, you were lucky that the company you paid contributions to have remained in business for all those years. I was always very wary of that, and them going bust and losing everything I'd contributed, which is why I chose not to go down that road, and created my own 'pension fund' instead.

    I also dislike the notion of making others money at my expense, and so avoid it if possible. That was one of the reasons why I left the company I worked for, selling artwork to private and commercial premises, and once I'd learned what was involved, started my own business doing the same. The satisfaction gained from the first time I secured a major deal and made some significant money of my own, as opposed to simply receiving a commission payment, was immense! Unfortunately, however, it wasn't always such plain sailing...

    And I should hope that no-one here is condemning anyone's life choices, certainly not me. All I've done is point out that if you're in your 50s and stressed out and unhappy, doing a job you hate, simply to maintain a certain lifestyle, then there is a way out, if you're willing to make some sacrifices.

    In all honesty, if it were necessary, I'd live in a bedsit, with just enough money to survive comfortably, if it meant that Del and I could be together and live happily. When you strip all the bullshit away, the material stuff that today we all *think* is necessary, through being brainwashed by commercial influences and peer pressure, it is just that: BULLSHIT.

    Ultimately, all that matters are relationships and people, and so in life, that should always be our primary focus. No wonder there are so many lonely and unhappy millionaires out there, as money isn't everything.

    Marco.
    Main System

    Turntable: Heavily-modified Technics SL-1210MK5G [Mike New bearing/ETP platter/Paul Hynes SR7 PSU & reg mods]. Funk Firm APM Achromat/Nagaoka GL-601 Crystal Record Weight/Isonoe feet & boots/Ortofon RS-212D/Denon DL-103GL in Denon PCL-300 headshell with Funk Firm Houdini/Kondo SL-115 pure-silver cartridge leads.

    Paul Hynes MC head amp/SR5 PSU. Also modded Lentek head amp/Denon AU-310 SUT.

    Other Cartridges: Nippon Columbia (NOS 1987) Denon DL-103. USA-made Shure SC35C with NOS stylus. Goldring G820 with NOS stylus. Shure M55E with NOS stylus.

    CD Player: Audiocom-modified Sony X-777ES/DAS-R1 DAC.

    Tape Deck: Tandberg TCD 310, fully restored and recalibrated as new, by RDE, plus upgraded with heads from the TCD-420a. Also with matching TM4 Norway microphones.

    Preamps: Heavily-modified Croft Charisma-X. LDR Stereo Coffee. Power Amps: Tube Distinctions Copper Amp fitted with Tungsol KT-150s. Quad 306.

    Cables & Sundries: Mark Grant HDX1 interconnects and digital coaxial cable, plus Mark Grant 6mm UP-LCOFC Van Damme speaker cable. MCRU 'Ultimate' mains leads. Lehmann clone headphone amp with vintage Koss PRO-4AAA headphones.

    Tube Distinctions digital noise filter. VPI HW16.5 record cleaning machine.

    Speakers: Tannoy 15MGs in Lockwood cabinets with modified crossovers. 1967 Celestion Ditton 15.


    Protect your HUMAN RIGHTS and REFUSE ANY *MANDATORY* VACCINE FOR COVID-19!

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  3. #173
    Join Date: Feb 2010

    Location: Moved to frozen north, beyond Inverness

    Posts: 2,602
    I'm Dave.

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    Quote Originally Posted by willbewill View Post
    Going back to the subject of deferring state pension.

    If you get full sp of £8.5k and defer for one year you get £500 a year more on your pension. Doesn't sound like a good deal to me, it would take 17 years just to recoup the year you've deferred, so if you're 66 when you reach sp age you need to live to 83 just to break even...or am I missing something?
    Just looked at this again. Many people would now be better taking the money as soon as they can. The deferral interest rate is now lower so it would take longer to compensate for not taking the pension at the earliest opportunity. There is also the risk of not getting anything at all if one dies before activating the pension. One or two years are now the most that anyone should even think of deferring the SP, depending on their circumstances.

    Anyone who gets any form of lump sum payment or has a high income from other sources (e.g. continuing employment, other pensions) around the time they retire should check and “do the maths”, as the sp might be taxed at a higher level if thresholds are exceeded - though without the option to take a lump sum it could well still be better to take the money, even if it does than get eroded by tax. People who were eligible before 2016 had a much better deal.
    Dave

  4. #174
    Join Date: Mar 2014

    Location: West Wales

    Posts: 843
    I'm malcolm.

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    Yep pre 2016 was definitely better, as were the sp ages. I missed out on the 65 sp age by a few months so have to wait until 65 and 10 months whereas a school friend of mine got his at 65, he was the eldest in our class and I was the youngest...quite irksome to me as we entered the workplace at the same time.
    Audiophile Tosher

  5. #175
    Join Date: Oct 2008

    Location: Aughton, Ormskirk

    Posts: 2,848
    I'm Jerry.

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    The one piece of advice I would give to anyone getting close to SP age is to look very carefully at the various pensions you have accrued over your working life. I have one from the early eighties worth £80000 or so with a guaranteed annuity rate that will give a £6000+ yearly income. The pension company has offered to buy it out for £120000. As I am pretty much ok, I am inclined to stick with the annuity. A few years ago I collected all my pensions together and my finanicial adviser told me to just leave this one as it was. The others he put in a new pension pot that has gone up and down with the stock market.
    Jerry
    Hifi: IPL transmission line floorstanding speakers, Squeezebox Touch, Denafrips Ares 11 DAC, DCB1 Pre-amplifier, Croft Series 7 power amp.
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  6. #176
    Join Date: Feb 2013

    Location: W Lothian

    Posts: 99,005
    I'm Grant.

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    ive hopes of getting full state pension, if i live long enough, but dont know if i will. they(the Govt) were supposed to pay in full credits for me looking after the wife all those years but ive heard no more
    Regards,
    Grant .... ؠ ......Don't be such a big girl's blouse

    I've said it before and I'll say it again: democracy simply-doesn't-work
    .... ..... ...... ...... ................... ..... ..... ..... ..... .....
    FIIO K7 BT, M11 PLUS, BTR7, KA5 - OPPO BDP-103D - PANASONIC UB450 - PANASONIC 4K ULTRA HD TV - PIXEL 6 - AVANTREE LR BLUETOOTH - 2* X600 SOUNDCORE - HEADPHONES INCLUDE, FIIO, NURAPHONES', FOCAL, OPPO, BOSE, CAMBRIDGE, BOWER & WILKINS, DEVIALET, MARSHALL, SONY, MITCHELL & JOHNSTON - 2*ZBOOK'S- MERCURY BD ROM, ROON, QOBUZ, TIDAL, PLEX, CYBERLINK, JRIVER - MULTI HDD'S -

    Oh my god! There's nothing wrong with the bidet is there?

    “Nothing discloses real character like the use of power. It is easy for the weak to be gentle. Most people can bear adversity. But if you wish to know what a man really is, give him power. This is the supreme test. It is the glory of Lincoln that, having almost absolute power, he never abused it, except on the side of mercy".

    “You see these dictators on their pedestals, surrounded by the bayonets of their soldiers and the truncheons of their police ... yet in their hearts there is unspoken fear. They are afraid of words and thoughts: words spoken abroad, thoughts stirring at home -- all the more powerful because forbidden -- terrify them. A little mouse of thought appears in the room, and even the mightiest potentates are thrown into panic.”

    "You don't have free will. You have the appearance of free will.”

    “There's a war out there, old friend. A world war. And it's not about who's got the most bullets. It's about who controls the information. What we see and hear, how we work, what we think... it's all about the information!”


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  7. #177
    Join Date: Sep 2009

    Location: west mids, UK

    Posts: 3,268
    I'm Phil.

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    Quote Originally Posted by Firebottle View Post
    Cut your stress as much as possible, be happy with what you have, stop keeping up with the Jones's.

    I'm exceedingly happy to say it worked for me, took early retirement and never looked back.

    The stats certainly make you think.
    wise words , driving past my stressed out colleagues today , who struggle every day with so much stress from understaffing and managers who could not give a T......
    i am glad i got out
    ou might slip, you might slide, you might
    Stumble and fall by the road side
    But don't you ever let nobody drag your spirit down
    Remember you're walking up to heaven

    Don't let nobody turn you around
    … Walk with the rich, walk with the poor
    Learn from everyone, that's what life is for
    And don't you let nobody drag your spirit down

    Eric Bibb

  8. #178
    Join Date: Jan 2008

    Location: Wrexham, North Wales, UK

    Posts: 110,012
    I'm AudioAl'sArbiterForPISHANTO.

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    Yup, STRESS is today's hidden killer.... Cut it out of your life wherever possible!!

    Marco.
    Main System

    Turntable: Heavily-modified Technics SL-1210MK5G [Mike New bearing/ETP platter/Paul Hynes SR7 PSU & reg mods]. Funk Firm APM Achromat/Nagaoka GL-601 Crystal Record Weight/Isonoe feet & boots/Ortofon RS-212D/Denon DL-103GL in Denon PCL-300 headshell with Funk Firm Houdini/Kondo SL-115 pure-silver cartridge leads.

    Paul Hynes MC head amp/SR5 PSU. Also modded Lentek head amp/Denon AU-310 SUT.

    Other Cartridges: Nippon Columbia (NOS 1987) Denon DL-103. USA-made Shure SC35C with NOS stylus. Goldring G820 with NOS stylus. Shure M55E with NOS stylus.

    CD Player: Audiocom-modified Sony X-777ES/DAS-R1 DAC.

    Tape Deck: Tandberg TCD 310, fully restored and recalibrated as new, by RDE, plus upgraded with heads from the TCD-420a. Also with matching TM4 Norway microphones.

    Preamps: Heavily-modified Croft Charisma-X. LDR Stereo Coffee. Power Amps: Tube Distinctions Copper Amp fitted with Tungsol KT-150s. Quad 306.

    Cables & Sundries: Mark Grant HDX1 interconnects and digital coaxial cable, plus Mark Grant 6mm UP-LCOFC Van Damme speaker cable. MCRU 'Ultimate' mains leads. Lehmann clone headphone amp with vintage Koss PRO-4AAA headphones.

    Tube Distinctions digital noise filter. VPI HW16.5 record cleaning machine.

    Speakers: Tannoy 15MGs in Lockwood cabinets with modified crossovers. 1967 Celestion Ditton 15.


    Protect your HUMAN RIGHTS and REFUSE ANY *MANDATORY* VACCINE FOR COVID-19!

    Also **SAY NO** to unjust 'vaccine passports' or certificates, which are totally incompatible with a FREE society!!!


  9. #179
    Join Date: Feb 2013

    Location: W Lothian

    Posts: 99,005
    I'm Grant.

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    So is poverty of cõurse. Its the leading a stressfree life while retaining sufficient money to lead a reasonable life that is the trick

    Sent from my G8341 using Tapatalk
    Regards,
    Grant .... ؠ ......Don't be such a big girl's blouse

    I've said it before and I'll say it again: democracy simply-doesn't-work
    .... ..... ...... ...... ................... ..... ..... ..... ..... .....
    FIIO K7 BT, M11 PLUS, BTR7, KA5 - OPPO BDP-103D - PANASONIC UB450 - PANASONIC 4K ULTRA HD TV - PIXEL 6 - AVANTREE LR BLUETOOTH - 2* X600 SOUNDCORE - HEADPHONES INCLUDE, FIIO, NURAPHONES', FOCAL, OPPO, BOSE, CAMBRIDGE, BOWER & WILKINS, DEVIALET, MARSHALL, SONY, MITCHELL & JOHNSTON - 2*ZBOOK'S- MERCURY BD ROM, ROON, QOBUZ, TIDAL, PLEX, CYBERLINK, JRIVER - MULTI HDD'S -

    Oh my god! There's nothing wrong with the bidet is there?

    “Nothing discloses real character like the use of power. It is easy for the weak to be gentle. Most people can bear adversity. But if you wish to know what a man really is, give him power. This is the supreme test. It is the glory of Lincoln that, having almost absolute power, he never abused it, except on the side of mercy".

    “You see these dictators on their pedestals, surrounded by the bayonets of their soldiers and the truncheons of their police ... yet in their hearts there is unspoken fear. They are afraid of words and thoughts: words spoken abroad, thoughts stirring at home -- all the more powerful because forbidden -- terrify them. A little mouse of thought appears in the room, and even the mightiest potentates are thrown into panic.”

    "You don't have free will. You have the appearance of free will.”

    “There's a war out there, old friend. A world war. And it's not about who's got the most bullets. It's about who controls the information. What we see and hear, how we work, what we think... it's all about the information!”


    ***SMILE, BE HAPPY***

  10. #180
    Join Date: Jan 2008

    Location: Wrexham, North Wales, UK

    Posts: 110,012
    I'm AudioAl'sArbiterForPISHANTO.

    Default

    Quote Originally Posted by struth View Post
    So is poverty of cõurse. Its the leading a stressfree life while retaining sufficient balance money to lead a reasonable life that is the trick
    Definitely, but I'm thinking more among the working population, and who are unlikely to be poor (in a true sense). Stress is the one that 'headless chickens', in the rat race, suffer from most. As you say, achieving a healthy work/life balance is the key

    Marco.
    Main System

    Turntable: Heavily-modified Technics SL-1210MK5G [Mike New bearing/ETP platter/Paul Hynes SR7 PSU & reg mods]. Funk Firm APM Achromat/Nagaoka GL-601 Crystal Record Weight/Isonoe feet & boots/Ortofon RS-212D/Denon DL-103GL in Denon PCL-300 headshell with Funk Firm Houdini/Kondo SL-115 pure-silver cartridge leads.

    Paul Hynes MC head amp/SR5 PSU. Also modded Lentek head amp/Denon AU-310 SUT.

    Other Cartridges: Nippon Columbia (NOS 1987) Denon DL-103. USA-made Shure SC35C with NOS stylus. Goldring G820 with NOS stylus. Shure M55E with NOS stylus.

    CD Player: Audiocom-modified Sony X-777ES/DAS-R1 DAC.

    Tape Deck: Tandberg TCD 310, fully restored and recalibrated as new, by RDE, plus upgraded with heads from the TCD-420a. Also with matching TM4 Norway microphones.

    Preamps: Heavily-modified Croft Charisma-X. LDR Stereo Coffee. Power Amps: Tube Distinctions Copper Amp fitted with Tungsol KT-150s. Quad 306.

    Cables & Sundries: Mark Grant HDX1 interconnects and digital coaxial cable, plus Mark Grant 6mm UP-LCOFC Van Damme speaker cable. MCRU 'Ultimate' mains leads. Lehmann clone headphone amp with vintage Koss PRO-4AAA headphones.

    Tube Distinctions digital noise filter. VPI HW16.5 record cleaning machine.

    Speakers: Tannoy 15MGs in Lockwood cabinets with modified crossovers. 1967 Celestion Ditton 15.


    Protect your HUMAN RIGHTS and REFUSE ANY *MANDATORY* VACCINE FOR COVID-19!

    Also **SAY NO** to unjust 'vaccine passports' or certificates, which are totally incompatible with a FREE society!!!


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