Aneirin
Posts: 6121
Joined: 3/18/2006
From: Tamaris
Status: offline
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quote:
ORIGINAL: LadyEllen
Those who left school at and around the time I did, came out into a world where there were not enough jobs. As a result, there are people of my age and around my age (40) that have never worked a day in their lives, and so never contributed a penny to any of the social welfare systems that have supported them through their lives to date. Some of us got what few jobs were available and have worked 20+ years, contributing to all of the social welfare systems which provide for our unemployed former schoolmates.
When each group reaches retirement, they are each to receive two pensions. One which is a basic and one which is contributions based or a private pension to which contributions have been made. The contributions based state pension has long been under threat - the governments of the last two decades have been desperately trying to get everyone able to do so, to sign for a private pension. The provision of the state contributions based pension would bankrupt the country. Many signed for a private pension, on promises of it being better than the state pension - and then found that the stockmarket in which their contributions were invested, lost the lot. Meanwhile those selling these pensions are still driving around in their Mercedes.....
Personally, I dont believe in handing over my money for a pig in a poke - which is what a private pension is and which many have found out to their cost. And I dont believe that there is anything beneficial to me in saving my money or investing it myself for my old age - because the social benefits system will top up the funds of those who never contributed, whilst my savings and investments will deny me such a top up. There is no advantage to gain for me, in doing the right thing.
Instead, I intend to keep working in my business for as long as possible - or at least to draw salary from my business (my kids will run it I'm planning). And I shall sell my house - because otherwise the state will require me to sell it to pay for my care in old age - another investment through my life which will come to naught and leave me no better off than if I had done nothing for myself.
And there is the problem - that we have learnt that doing the right thing is of no benefit to us. So it then becomes a little perverse to ask why we dont or wont do it.
E
Well you know it LE, I was one of those who came out of school to 25% unemployment in the glorious North West, where any job with any pay and any conditions was better than nothing, of which I took and ended doing something for the next twenty two years which I had not the slightest interest in, but it was a job. I paid all my taxes, the lot, whilst seeing those around me apparently having a better life. I might have had the money, but they had the free time and the benefits. I kept on plugging at it, more hours for money to maintain the lifestyle, until break down, the body and mind saying,' ENOUGH'
So, now I have wised up, the plan to start my own enterprise, after I have finished college and work, doing what interests me till I die on the job. So, here I am in receipt of benefits, which I can tell you is not the easiest thing to do, they not taking into account rises in the cost of necessities, food, fuel etc. Luxuries, you learn to live without, and in reality, they are not worth much, when one can go out for a walk on the cliffs or moors. Oh, and I don't defraud the system, no working on the side, I always play fair, as one has standards to live by, despite the difficulties
I am taking now, what I believe I will not get in my future,that which I have paid for in twenty two years worth of working where I only ever took five days off sick in all that time. I have with my taxes paid for other's education, they can now pay mine and when I am working again, again I will pay tax, so someone else can benefit.
No, I have learned, to do the right thing, in the end, does not pay, I am only too glad I realised this before it was too late, as promises made by Governments are rarely kept.
_____________________________
Everything we are is the result of what we have thought, the mind is everything, what we think, we become - Guatama Buddha
Conservatism is distrust of people tempered by fear - William Gladstone
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RE: Gen X on retirement - 
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