[Albion] Wolves underlining the benefits of old age

[theboybilly]

Would you like to swap your wage packet with my two pensions? I worked for 50 years, paid full NI and have a small private pension. My income is less than £12.5K

And, no doubt, you still have to wait for your State Pension? It was awful the way they altered the age of qualification for women

 

[Robdinho]

Would you like to swap your wage packet with my two pensions? I worked for 50 years, paid full NI and have a small private pension. My income is less than £12.5K

If we find someone who's younger than you who earns less does that mean everyone can have a discount then?

 

[Robdinho]

People seem to be confusing two entirely different metrics here. Disposable income and total individual wealth are entirely different things - especially if the wealth thing is almost 100% contained within an (essentially) non-dispoable asset such as the property that they live in.

Yes, I know that you can sell a property and then go and pay rent, and also sell a property and live in a much smaller property (with all the negatives that might come with that) but my basic point remians - disposable income and wealth contained within essentially non-dispoable assets are just two very different things, and should not be used for direct comparisons.

They're not separate if a large percentage of one's income goes on paying for said asset though. In general, older people are more likely to have paid off their mortgage. So yes, you can't get the money out easily, but you're outgoings are also significantly reduced.

 

[rippleman]

Irrelevant when stood at the supermarket checkout. I've lived in the same house for 44 years. It's worth to me is the same as the day I moved in, a roof over my head. Doesn't help pay the bills.

But over 44 years you would have built up a huge amount of equity in the property that you could release if the need arose.

The average house price in Hookwood is £528K (source:Rightmove) or £654K (source: Zoopla). Prices in 1978? Can't find them.

 

[Terry Butcher Tribute Act]

In other news why the hell is there 15 points available for Wolves away but only 10 for Man City and Liverpool.

Anyone who is willing to trawl their way up to Manchester or Liverpool deserves the full 15 in my book, and Wolves, much closer is clearly a 10 pointer.

Note, still 600 tickets available for the Man City game.

ps) I say this as someone not going to Liverpool or Man City but is going to Wolves.

My opinion on this is that as nice as the ticket office staff are, they don't 'get it' when it comes to away days and don't quite get the points right for some of these games.

The novelty of City and Liverpool has worn off to a degree which is why the games take a long time to sell out.

Wolves might still be a relatively long way away but it times of financial hardship, it's a relative piece of piss on the train (certainly compared to the North West at the moment) and much cheaper on the coach too. And it is a much more 'winnable' fixture.

I think there's probably a bit of slightly lazy naivity that goes '5 points for local games and the big boys, 15 for most others'. But I'm not sure it's easy to avoid unless you have insight into the mind of an oddball who goes away from home semi regularly!

Sent from my SM-G998B using Tapatalk

 

[Thunder Bolt]

And your house is worth what?

Nothing unless I want to live in a tent. All the bills are as large as anyone else’s.

I was always led to believe that armed forces pensions were really good. Not the case?

When I served it was 22 years to qualify for any pension. It changed in the 90s to a minimum of two years, but nothing for us oldies.

And, no doubt, you still have to wait for your State Pension? It was awful the way they altered the age of qualification for women

It was but my total is including my State Pension. When my children started school I had a part time job for 10 years which then went full time but part timers weren’t allowed to join the pension scheme.

If we find someone who's younger than you who earns less does that mean everyone can have a discount then?

Of course. It’s the under 18s isn’t it?

As for the poster who mentioned releasing equity, I wouldn’t touch it with a barge pole. It has cleaned up its act, but a few years ago I saw a couple in their 80s being evicted as their time limit had run out. Basically, it is remortgaging your home. No thanks.

 

[swindonseagull]

I was always led to believe that armed forces pensions were really good. Not the case?

It all depends when you served and for how long,
The Armed Forces Pension scheme was really good in the late 70's 80's 90's that was called (APS75) It changed in the mid 90's to APS90 (I think)
people were allowed to choose which scheme to belong to.
I chose APS75 and served 30 years in the RAF........when you finished your pensionable service which was 22 years minimum you got a lump sum and an immediate pension.
If you served less than 22 years you get your pension at aged 65 ( someone will correct me if im wrong with the age) if you served 10 years you would get 10/22nds of a pension.

Also the pension depends on the rank you attained.

I dont know about APS90 as I was in APS75...

My 30 year pension is good compared to other pensions.

 

[BLOCK F]

You're obviously right - but wasting your time trying to have this conversation on geriatric NSC with an average age well above 50.

Not entirely.
I am an NSC geriatric of 74 and have sympathy with your point of view.
Compared to many of us oldies, but not all, the younger generation have a lot to contend with.

 

[Creaky]

But over 44 years you would have built up a huge amount of equity in the property that you could release if the need arose.

The average house price in Hookwood is £528K (source:Rightmove) or £654K (source: Zoopla). Prices in 1978? Can't find them.

That’s just borrowing cash albeit the debt only needs to be repaid on death. I don’t need a house to borrow and in any case it’s not income.

Of course I could but all that says is I could borrow money to

 

[Neville's Breakfast]

Counterpoint: Why should older people pay less, given they are (on average) the wealthiest people in society?

They might be where you live. Elsewhere I would imagine the lack of an income (unlike young people) is probably a little more significant.

 

[Neville's Breakfast]

But over 44 years you would have built up a huge amount of equity in the property that you could release if the need arose.

The average house price in Hookwood is £528K (source:Rightmove) or £654K (source: Zoopla). Prices in 1978? Can't find them.

Why should someone borrow money after a lifetime of working ? Interest rates are on the way up. Makes no financial sense. In addition people have brought up families and often have to contend with declining health and the end of their working lives. Then a new generation comes along and wants it all straightaway with none of the sacrifice. I will happily take my £5 discount when the time comes as will all the youngsters when their time comes.

 

[jonny.rainbow]

Thought this thread would be a about wolves eating old and sick people. Slightly disappointed.

You’d better not let Liz Truss see this.

It’ll be official Conservative Party policy to deal with the care home crisis if she does.

 

[wuntbedruv]

I started my pension journey in the early '80's when I joined into the brand new company scheme, this was always intended to complement my NI contributions and SERP supplement to provide a decent income in eventual retirement.

At that time state pensions were paying out about 2/3rds of the national average wage. Approx £20,000 a year today. State pensions are around £9,000 on a full contributions record.

Decades of tory mismanagement of the economy, of selling to any foreign entity of all national assets and the hideous and unjustified expansion of executive pay has left our pensioner population robbed of the future they saved and paid for.

And those mortgage free houses you speak so fondly of, £1500 a week nursing home fees have got to be funded somehow.