How many people over 30 aint got a pension yet?

That'l be me for one!! Jesus im 31 on friday - still cant get my head rounsd it. Only feel about 23! But ive still not put owt away for a rainy day. Bad idea? I know i should be but its not easy. I want this this and that all the time. Holidays etc....

Would you rather have it now, when your old or not at all if you cark it early?

Im banking on the fact im going to make my million some day! ff

 

I've got a work one, but it's worth practically nothing...

I'm working on the principle that I need money NOW!! What's the point in saving up when I could get hit by a bus tomorrow??

 

I wouldn't bother

if you've got a pension and savings some bugger will stick you in a home and take it off you when you go senile

 

thats what i was thinking too - property is the thing to get i reckon!

 

RE: I wouldn't bother

You've seen through your kids future plans already then?! ff

 

I don't have to see through their plans

they've told me straight to my face.

I'll have the last laugh though, because they ain't worked out that it'll be their inheritance they are spending on my care.

 

RE: I don't have to see through their plans

I'm afraid I let that slip to my parents too. Apparently the house is already worth nearly £300,000 so I'm gunna be rich when it's time to put the parents into a home and sell the house ff

So it shows all the youngsters out there, your parents do know best, until you're old enough to put them in a home.

 

I had one, once, but a fat bloke fell off a boat and took it with him!

 

am with you mate and i'm 53 .still feel 20 in me head .spend spend .just keep working''.million ''i'll not see that ,not while i've a hole in me arse ..so do as you feel .f.uck em..

 

Put it into something you can trust.

Krugerands.

 

Company pension

Had one running since I was 23 or so.
Once it's there you don't notice

Got an IBM final salary pension with over 10 years in it that's frozen (i.e. when I left the company I've left that in place rather than transfer to my new company who stopped doing final salary before I joined)

 

RE: I don't have to see through their plans

Thank goodness for inheritence tax then!ff

 

I'll remember to check this thread in 30 years time when people are moaning about what they are getting from their state pension!

 

wtf

is krugerands?

 

Gold mate.

Or diamonds.

 

So long as you have some vague idea about

how you will survive into old age it doesn't really matter what that plan is. So it could be a pension, a property, realising capital from your own residence and going into rented, inheriting from parents etc etc. But in my experience a lot of young people have no plans and no prospects. They are probably the ones who said that pension ages should be equalised, and then looked puzzled when the pension age for women went UP, when they expected that the pension age for men would go DOWN. That change took place less than a decade ago, and now we have the recommendation that the pension age goes up further, to 67, maybe 68 or 69. It's simple demographics. Nobody is saving for the future, including the government. Todays pensions are coming from todays taxes, and this will continue. So as the age shift puts more people into older age, and there are fewer younger people paying taxes to look after them the choice becomes simple - either put up taxes (political suicide) or make those on state benefits wait longer to get them, or pay them less. It's not rocket science. So if the pension age stretches into the 70's, do remember that you had the chance to save when you were younger. I talk to young people a lot, and I know that spending £100 on a night (certainly a weekend) out is not exceptional, what with taxis, night club entrance drinks a curry etc, and that's not looked on as a big issue. But if I turn round and say put £50 a month into a pension the same people look at me like I'm from another planet. Basically I could'nt give a ****, cause thats their choice and good luck to em. But the amount of financial ignorance out there never ceases to amaze and amuse me.

 

Inheritance Tax

Scrap the bleeding thing & recover the difference on income tax. Anything you invest in or save for retirement should be able to be passed onto your kids tax free if you don't live long enough to enjoy it. You have already paid income tax on it before saving it.

 

RE: This can be avoided by ?

You can leave your kids a large part of your home by taking out a Property Protective Trust Will.

For between £350-£500 you can protect at least a half of your property from care fees which can be upto £600 a week.

So for less than a weeks care fees you can protect £50000+ of your estate. Do your own calculation to see how much you could protect.

The way it works is that you sever the joint tenancy and become Tenants in Common.

Each of you makes your Will, which is writen in trust,with your kids as the beneficiaries or who ever you want it to go to.

On first death half the property goes to a trust for the kids. The surviving spouce gets a life long right of residence and can stay in the property rent free.The surviving spouce can also downsize or move house on demand.

This type of trust will also guarantee that the kids get half the property in the event of a surviving partner re-marrying.

For example, Jack is a widower aged 67, Jill is a widow aged 65. Jack has 3 kids, Jill has 2.Being a bit old fashioned dont just want to live together,they want to marry,and want their own children to get their share of the estate.

They take out a Protective Property Trust Will. Jack dies first and his half of the house is held in trust for his kids.Jill can live in the house rent free for as long as she wishes.On Jills death the house will be sold with half going to Jacks kids and half to Jills kids. An ordinary Will does not do this, it has to be a trust will.

Check out the Supporters trust web site sponsors page for a legal firm which carries out this type of work. Supporters Trust and Centenary members get a 10% discount from agent 9320 who is a Reds Fan.



(pint) (pint) (pint) (pint) (dancin) (dancin)

 

RE: Inheritance Tax

You can save up to £110000 by making out an Inheritance Tax Saving Will.

See Supporters trust web site sponsors page.

 

i really do mean to keep saving but something always comes along to prevent it

latest one is money for getting married! Once thats done im going to start putting a deffo amount away every month!