Poor Pensioners...

guys I'm in my 30's and been paying private pension with employer contributions for 10 years now....I know its not looking good....didn't realise HOW GOOD final salary schemes are.

this article really hit home :

Millions could see pensions halved after being kicked out of final salary schemes | Mail Online

basically saying there will be millions of poor pensioners living a miserable existence in the future.

anyway, this brings me to trading, I HAVE TO SUCCEED. Its the only way I can see of getting some kind of better life when I'm older.

I don't want to be still working at 70 and living off 10k a year !!!

maybe I worry too much but with todays house prices, big mortgages, poor pensions....the future is certainly NOT bright

With the ageing populations its also unlikely we'll be entitled to state pensions so our NIC is paid in vain.

advfntrader said:

guys I'm in my 30's and been paying private pension with employer contributions for 10 years now....I know its not looking good....didn't realise HOW GOOD final salary schemes are.

this article really hit home :

Millions could see pensions halved after being kicked out of final salary schemes | Mail Online

basically saying there will be millions of poor pensioners living a miserable existence in the future.

anyway, this brings me to trading, I HAVE TO SUCCEED. Its the only way I can see of getting some kind of better life when I'm older.

I don't want to be still working at 70 and living off 10k a year !!!

maybe I worry too much but with todays house prices, big mortgages, poor pensions....the future is certainly NOT bright

Click to expand...

So what have you done in regards to trading to ensure your success?

DB schemes are a complete joke in the first place. They just cannot exist in the modern world. The fact that these schemes are still around is contributing massively to the UK pension problem (currently, these schemes are underfunded to the tune of something like £179bn). The other issue, of course, lies with the pension schemes of the bloated public sector (they are estimated to cost arnd £335bn in over the next 50yrs).

The future's bright... NOT!

Public sector final salary pensions HAVE to be stopped. theres just no way the country can pay for them.
I think I should just become a binman and I'll end up better off when I retire....

Why not try to buy a house or two if you have a capital for deposits? Should be a good time to buy now, and looking forward 30 years their not going to go down in price. If you buy at the lower end of the market you should be able to get an 8% return. Just look at the asking price and offer one third less. Sorted.

advfntrader said:

guys I'm in my 30's and been paying private pension with employer contributions for 10 years now....I know its not looking good....didn't realise HOW GOOD final salary schemes are.

this article really hit home :

Millions could see pensions halved after being kicked out of final salary schemes | Mail Online

basically saying there will be millions of poor pensioners living a miserable existence in the future.

anyway, this brings me to trading, I HAVE TO SUCCEED. Its the only way I can see of getting some kind of better life when I'm older.

I don't want to be still working at 70 and living off 10k a year !!!

maybe I worry too much but with todays house prices, big mortgages, poor pensions....the future is certainly NOT bright

Click to expand...

You're thinking on the right lines. Your generation (and that includes my kids) has been stuffed by my generation - through early retirements, inflation (leading to house profits), indexed pensions and a selfish choice of politicians who have agreed to give us all that.

Then Gordo comes along and raids the pension funds, flogs the gold for the lowest he can get and then knowingly allows smart-*rse greedy bankers to drop us all in the sh*t. But we were all lovin' it while it lasted weren't we?

Get your trading sorted - a future government will be bug*er all use to you and all us pensioners - there'll be millions of 'em all watching Countdown and wondering what happened to their financial "rights".

I wouldn't put my money into any fund that our Glorious Leaders can pilfer - but they can still do it with your property and almost any other medium you use. So stay smart and use your brains - be part of the successful 5% just as in trading.

Rossini said:

Why not try to buy a house or two if you have a capital for deposits? Should be a good time to buy now, and looking forward 30 years their not going to go down in price. If you buy at the lower end of the market you should be able to get an 8% return. Just look at the asking price and offer one third less. Sorted.

Click to expand...

Well, it's not entirely clear that now is a good time to buy, but I would buy, if I could use my pension to do it. Given the performance of my pension, I'd much rather they let me use it as collateral, so that I can leverage myself up to the max possible. Never gonna happen though...

wouldn't worry about it, we're all going to die from obesity and in any case the pound will be worthless in a few years time...

Martinghoul said:

Well, it's not entirely clear that now is a good time to buy, but I would buy, if I could use my pension to do it. Given the performance of my pension, I'd much rather they let me use it as collateral, so that I can leverage myself up to the max possible. Never gonna happen though...

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Mortgage, re- mortgage- re-re mortgage, draw all pension funds, trade it all. If you lose it all go insolvent and buy stuff in your wifes name.

arabianights said:

wouldn't worry about it, we're all going to die from obesity and in any case the pound will be worthless in a few years time...

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That's of course if Swine Flu doesn't get you, the floods come back, the drought comes back, oil runs out, Gordo gets re-elected, asteroids hit us (apparently the medics can cure them now), Aliens arrive, Man U go bust etc etc.

I agree, why worry?

0007 said:

I wouldn't put my money into any fund that our Glorious Leaders can pilfer - but they can still do it with your property and almost any other medium you use. So stay smart and use your brains - be part of the successful 5% just as in trading.

Click to expand...

There is of course the real possibility that any financial shake up that arises out of the fall out of the current crisis could change the face of trading as well, and who is to say the government of the day might not pilfer that as well!!!

Sum fings in lifar bad

0007 said:

Aliens arrive
I agree, why worry?

Click to expand...

YouTube - Monty Python - Always look on the bright side of life.