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 kernowmade
Joined: 12/16/2013
Msg: 1
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Managing on an Old Age Pension Page 1 of 2    (1, 2)
Something in the Jeremy Vine show this morning really annoyed me. A lot of people seem to assume that OAP's have never had it so good. Well, I can tell them that they are very wrong. I struggle to live on my pension, and before anyone says, go out to work, I do, but I worry about when I can no longer work, what happens then. I was left with very little after my divorce and had to go out to work, but by the time I had paid my bills, and done my weekly food shop there was very little left. I don't smoke, buy one bottle of wine a week, and run a very old VW. My home is a modest park home which at the moment is in need of some attention. Sorry if this sounds like I am moaning, mostly I am very positive and optomistic, and I count myself lucky that I have my health and strength, as I know that there are many people who are worse off than me. My advice to anyone not yet of pensionable age, is to take out a good private pension, with a well known reputable company. My ex and I got caught up in a pension scam and although we have tried, cannot get any of the money we paid into it back.
 Justanotherchap
Joined: 12/4/2013
Msg: 2
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Managing on an Old Age Pension
Posted: 10/24/2018 3:56:37 AM
Indeed. Everyone assume that everyone else has planned perfectly and not affected by life's downsides. In my case I didn't fight my ex as I should have doe for fair shares - hindsight is wonderful. But at the time it wasn't important because I had a well paying job and plans in place. what I couldn't foresee was my being made redundant and using loads of savings to just keep the mortgage going. So at the moment I am stuck paying the mortgage until I am 75, so like you I'm not going to be one of those rich pensioners Jeremy was talking about.
 RoxyMoronic
Joined: 6/7/2016
Msg: 3
Managing on an Old Age Pension
Posted: 10/24/2018 9:27:54 AM
Im not really planning on living too long into old age, it’s not for me.
I’m fvcked if I live till I’m hundred. I’d have to stop spending like I do.
I have a few pensions I pay into, but I don’t really understand much about them I’m ashamed to say.
People are working much longer now, by the time I retire it will probably be set at 85
 Chastirin
Joined: 10/3/2018
Msg: 4
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Managing on an Old Age Pension
Posted: 10/24/2018 9:48:30 AM
Roxy it's partly what contributed to a family member taking their own life a few years ago. They had a reasonable pension income and their mortgage paid off but worried about disappearing savings as they were getting older.
In my case, so far I have only worked full-time for 6 years. The rest was either part-time or not at all while my kids were growing up. I have one small occupational pension, and I'm now paying into NEST but that's probably too little too late. I doubt I'll be able to live comfortably in retirement. But I'll have some spare rooms so I guess I could take in some lodgers (to look after me in my dotage lol).
 RoxyMoronic
Joined: 6/7/2016
Msg: 5
Managing on an Old Age Pension
Posted: 10/24/2018 10:06:43 AM
That’s awful.
I try really hard not to let things like finances worry me too much. It’s a stupid thing to say considering the gravity of what you’ve posted about your family but I don’t like feeling overwhelmed by things out of my control.
Over my lifetime its gone like......I have money. I don’t. I have money. I don’t. Etc.

I’m thinking now what, as a pensioner could I turn my hand to if needed
 Chastirin
Joined: 10/3/2018
Msg: 6
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Managing on an Old Age Pension
Posted: 10/24/2018 12:04:01 PM
Roxy it was the depression that killed them, just couldn't get the right kind of help.

I try to plan for the future as best I can. I retrained so that once I'm able to work full time again hopefully I'll get a decent wage. I think I'm lucky to have that ability and opportunity as I know not everyone does. Saying that, I've still got to succeed in getting the full time job.

My current boss is well past retirement age and showing no signs of wanting to stop working. He enjoys it I think it keeps his brain active.
 Spectrallight
Joined: 9/14/2018
Msg: 7
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Managing on an Old Age Pension
Posted: 10/24/2018 12:57:00 PM
If anybody has a passion, great knowledge about something then write an E-Book then sell it on Amazon. Nimble writer a program cost £7 so you can use that to write it and you can export it to .pdf .epub etc.

Nimble writer
https://www.youtube.com/watch?v=uNEiwNACYfA

Love cooking? Know lots about golf?

Once it's published it would hopefully generate income passively.

Good with a camera taking Photo's? Try sell them online.
https://submit.shutterstock.com/
https://www.foap.com/photos/visiting-family-1023a3cb-7b00-48ae-ae75-161e15ef91ae

Good at composing music? There is places to sell it online.
https://www.premiumbeat.com/royalty-free-tracks/start-a-fire

Web dev, Proofreading etc etc
https://www.upwork.com/i/freelancer-categories-all/

https://www.thepennyhoarder.com/make-money/side-gigs/how-to-get-paid-12hour-cleaning-up-googles-mess/

Worth thinking about things like the above.
 Justanotherchap
Joined: 12/4/2013
Msg: 8
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Managing on an Old Age Pension
Posted: 10/26/2018 1:41:53 AM
Every man and his dog are doing those things.

I was talking to a friend in a similar situation. The reality is that unless you planned really well then th likelihood of ending up with a decent pension is small. Amongst all my acquaintances the ones doing well in retirement are mostly ex school teachers, GCHQ, civil servants, police. There are a few who had private pensions and done well but many have seen their pensions disappear back in the crash of 2008. and there are others like myself who have simply been ripped off by the financial services industry. Vlad has experience of API but that is just one of the many ways we've been conned out of billions (and no one has gone to prison).

Why when you pop into B&Q do you think there are so many older people working there?
 kernowmade
Joined: 12/16/2013
Msg: 9
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Managing on an Old Age Pension
Posted: 10/26/2018 7:00:01 AM
My ex husband and I got ripped of by a so called Financial Advisor, who was working for Manulife, so at the end of the day our pension wasn't worth the paper it was written on! I struggle on the state pension and make it up with a little bit of dog walking thrown in, it's a good thing I'm fit. Heating and keeping my car on the road are my two biggest bills, plus the annual ground rent on my park home. I am trying to sell up and move back to Cornwall where most of my family are, but it's a slow process at the moment. I try to count my blessings, I am fit and healthy, and that counts for a lot.
 vlad dracul
Joined: 4/30/2009
Msg: 10
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Managing on an Old Age Pension
Posted: 10/26/2018 7:50:35 AM
Chapster
"Amongst all my acquaintances the ones doing well in retirement are mostly ex school teachers, GCHQ, civil servants, police.

Why when you pop into B&Q do you think there are so many older people working there?"


Yep the golden years when state workers could retire in their mid 50's with a cracking pension has now gone. Well for those in the lower end of the public service industry.

When public service workers were receiving wages when on the sick, paid holidays and a nice retirement at a decent age they never really gave a toss about the private sector. The private sector could strike till kingdom come and i think public sector workers (not all) didn't care.

Now the public sector is feeling the squeeze like the rest of us maybe they may leave the bubble they lived in?

Years ago when i was unemployed and a bit barking mentally i went to sign on at the dwp. The young geezer who i would guess was in his early 20's told me i had to apply for a 'work experience' job at the homebase store on the outskirts of Edinburgh.

It was to last 8 weeks. You got an extra £10 per week to help with bus fares. It was mainly late shifts and weekends. If you did not appear for a designated shift your unemployment benefit was stopped.

To me he was trying to show how HE would TELL me what to do.

I started laughing. So says i. 8 weeks unpaid work, late shifts and weekends? I suppose it saves homebase paying workers time and a half or double time then?

And the enticement was at the end of 8 weeks you MAY get a job.

Anyway i phoned the number given and spoke to the dwp person handling the 'job'.

She burst out laughing and asked what arsehole (her word) had sent me to apply for this non job. I told her and she said just ignore it and I'll tell them you are unsuitable.

The pensions crisis is going to be immense. I feel sorry for youngsters. Getting sent on 'work experience' for weeks on end and all to save multi million £ companies in overtime fees and shift work fees.

The lack of tradesmen in the building trade is because apprenticeships were abandoned to save companies paying for youngsters to learn a trade.

Why take apprentices on for 4 years when you can hire a brush hand from an agency for 3/4 weeks.

I don't have a private pension. I resisted all the waffling at the time. Looks like i made a good call. I mind pals putting away £10 a week. £520 a year. £5,200 after 10 years.

They were all conned.

As for aulder folk in b and q and such places i think they are decent folk who have probably retired or lost their job. Or been bullied by dwp dafties.

But b and q etc know they are reliable. And i would think they would not voice any protest at something they thought was wrong.
 Spectrallight
Joined: 9/14/2018
Msg: 11
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Posted: 10/26/2018 11:08:35 AM

Every man and his dog are doing those things.


I do get where you're coming from regarding a lot are trying to do it. It doesn't mean they're good at it.

Take writing an E-Book. It could be the best thing since sliced bread, but if nobody knows it was released then, it will be invisible.

On the other hand. If on the day of release friends/family review free copies and post reviews on Amazon as well as give some free copies away while running a Facebook ad for the day with targeted advertising. Post on Twitter. Join other communities, and tell them it will be released prior to all of this. It has a fair chance to get noticed.

If someone enjoys creative writing with excellent written English(not me) then, it really is a good thing as 5 years down the line they will be established and could have to say 5 books online making an ok bit of spare change every month. It only costs you a little if you actually finish writing a book.
5 books x 2 sales each book a week @ £5 each is £50 passively. £2600 a year for work you only had to do once. But what if you got lucky and sold 3000 in a year :) 3billion+ internet users worldwide and when your book is on Amazon. It is sold worldwide.

500 words a day isn't hard. Is it? Don't worry about Grammar. Get the thoughts down and worry about that later :)

1 folder + each chapter is a text file is all that is needed to start, and a sprinkle of imagination.

It's great because anybody can do it.
 rekirked
Joined: 11/7/2017
Msg: 12
Managing on an Old Age Pension
Posted: 10/27/2018 10:17:22 AM
I can’t imagine not going to work, the thought terrifies me. I hate golf, I hate coach trips and I hate daytime telly.
 Theydidnotfixit
Joined: 8/19/2018
Msg: 13
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Posted: 10/28/2018 7:07:53 AM
I don't think civil servants , senior ones, take risks. They have a less up and down financial life than most of us as a consequence. It's all about where you place yourself. Reading Adam Ferguson's book, when money dies a number of years ago now, I recall that in 1923, with the hyper- inflation approaching its denouement, it was so called blue collar workers with Trade unions and collective bargaining that kept up with the spiralling prices as the Mark collapsed. In contrast, lawyers would go to work and collapse in the street for the want of food .

If there were any sane kids, say in a so called dead end job, reading this post at this time in history, I would counsel them not to buy a pension ( well done billy) yet ( unless someone gives you one for free) and quite possibly avoid home ownership too. ( unless ......etc... and even then think of the future costs etc..)

Save in gold and some silver possibly for barter in the black market or rather the free market that may be coming. Basically we spent your inheritance, sorry. And we killed ( in our name) a lot of nice people too. Sorry , I know it's Sunday. But one must face the truth for a moment or two now and again. It was many millions.

I'm really not sure where I got this data set from but I swear I did not dream it. It's apparently one of the longest economic data sets the world has, and it's "our" property market from 1252 to the present. Disregard it if you wish. But from 1252 to 1939 the yearly average rise in this sceptre island's properties was just zero point four percent or 0.4%. From 1939 until now it has been eight percent. The explanation for the stark difference is that our money largely slipped its precious metal base.

Our esteemed chancellor has said, I think this morning that the fruits of our hard work are over and....Excuse me my lovely lone reader but he's a lunatic.

Nationalism created by remainers is not where we are at. Because these murdering remoaners invented globalism to escape the natural justice that surely would have been visited upon them if they kept it local.

Tesla has suddenly declared a quarterly profit after many quarters of red ink. It's fantastic living within the benificence of a monetary counterfeiting ponzi. Elon or Enron must be so happy that he has found accountants at last, with a positive graph inspired by one accountant's small child that old Enron can now use to go to our lovely, noble, global banks and ask for even more money , perhaps your very own pension, so that he can set light to it.

Triffin's dilemma, in short the dollar is the world's reserve, trade settlement and oil settlement currency.
And it's quite simple, if still rather stupid that the world needs these pieces of paper with ink on them
or we could all turn to cannibalism. Now previous American presidents have kept us from devouring each other by supplying us with them. Albeit at a price , for instance we have laboured in B&Q and sent them various Brasses, including robotic one's, massive amounts of opiates, guns, pizzas and lentils too.

Donald Trump, in short Donald has decided he's going to make America great again by getting Joe
six pack off the couch and work into his nineties in B&Q...USA....

So far or sofa so good, nothing has happened in America. But alas things are happening at the global margin. Remember it's not local, Theresa, Jeremy or Vince but Global (remainerville) Emerging markets are in a tailspin. The E.U. is on life support forever. Japan is an old age communist state albeit with superb manufacturing. Australia is facing the mother of all housing crashes. And China are a fiat debt ponzi. What they don't need is someone turning on and off their life support machines. As Donald and Jerome at the "Federal reserve bank" are doing.

In short, again, we are trapped. It happened in 1944 at Bretton woods in New Hampshire. When the American elite awarded itself the "exorbitant privilege" of being the world's reserve currency. The world needs a weak dollar. America needs a strong dollar although it really needs a weak dollar although it really doesn't want to, apart from Donald , admit to this as all hell will really break loose and gold, oil etc will go to the moon price wise.

We are not far off another 2008, that is not a normal post world war two recession where things could be mended somewhat, people thrown out of house and job and the debt ponzi cycle continued. In 2008 things stopped even the gillded, criminal elite in their tracks. Remember when we rallied around and bailed them out With our...on topic ...pensions... :)..... and of course the plundering continues...


The game is assets. Those with the assets, stocks, bonds, property, paintings, currencies etc get richer
while the worker gets less and less. And said assets become too expensive for the worker to purchase ever.

Do not get upset with your fellow human beings, for it's the system. And one does need a plan though and an understanding where you stand in the system . Even if one holds assets today. How strong do you hold them? Leverage or debt can be at times deadly. Many asset rich people will be caught out . We are biased to believe that tomorrow will be roughly like today and a big change will be gradual. But this is nonsense. The evidence is all around if you choose to see. Preparation is resilience.

In 1970s, to keep the global ponzi alive , American women went out to work to support the family. Of course this can be seen as female empowerment. In the wealthiest country in human history. Credit cards were invented to hide their stagnating incomes.In the eighties cheap Chinese labour was used. House price inflation was used to create a wealth effect and allow Americans to access more and cheaper debt. Interest rates set by committee declined to support this debt. The largest creditor nation in history in 1980 is now the largest debtor nation in the history of the world. Rich nations have savings not debts. Housing and family formation is falling in America, they can't afford it. Can you see this ....? Even the American political system could not stop this. It's a global system now. Good luck Donald. Democracy is simply a cover. Over two years and still no brexit.


In 2008, what stopped the collapse of the system and enabled its dubious continuation was cooperation at a global level. There was a scarcity of dollars outside America , famillar? Europe needed a dollar bail out to save itself. But had no dollars. What happened was the ECB printed 10 trillion euros and the Fed printed some ten trillion dollars and there was a currency swap. How are those pensions doing? Not good? You ain't seen nothing yet. Can we really see such cooperation again? I think not. There are too many have nots. And when people have nothing to lose , they lose it.
 UKBunny
Joined: 8/10/2018
Msg: 14
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Managing on an Old Age Pension
Posted: 10/28/2018 10:16:47 AM
'500 words a day isn't hard. Is it? Don't worry about Grammar. Get the thoughts down and worry about that later :)'
Try doing it every day........

You need to need to write 'that' book, otherwise forget it.
I'm nearing the 3/4 point in my third book - if you don't have a publisher (I don't)
you are simply dead in the water.
The reason Waterstones et al are still with us is that Kindle etc. has peaked.
I retired into running a shop (keeps me off street corners)
we all need something to do (growing roses ain't my thing)
which is why you see so many doing a few hours in B&Q, Tesco etc -
Nice to see Billy back - Congrats to Chappie - chin up KM.................

 changemydestiny
Joined: 4/3/2018
Msg: 15
Managing on an Old Age Pension
Posted: 10/29/2018 4:17:01 AM
I have gone back to work. Finances have almost run dry post divorce. There are no extras for running my car or enjoying a holiday be it at home or abroad. Completely different picture to the retirement plans I had when married. Although our finances were equally split on divorce I wonder where the money has come from to buy property, car and holidays practically every month. If crime pays maybe that’s an option to follow when I’m unfit to work.
Seriously those who sit on warm soft comfy seats all day dictating to others how comfy the life of a pensioner is should be made to live on a state pension only for at least 6 months!
 Justanotherchap
Joined: 12/4/2013
Msg: 16
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Posted: 10/29/2018 5:01:08 AM
where's the like button when you need it.
 Justanotherchap
Joined: 12/4/2013
Msg: 17
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Posted: 10/30/2018 4:49:53 AM
And just in case you believed the Tories when they said they were going to help hard working families in the budget yesterday.

"The Resolution Foundation, a not-for-profit research and policy organisation, which says its goal is to improve outcomes for people on low and modest incomes, said poorer families would be about £30 a year better off from the tax cuts, with the top 10% earners £410 better off.

The organisation said better than expected public finances had given Mr Hammond an extra £74bn to play with - and he had used up three-quarters of that with the extra spending on the NHS, welfare and the income tax changes.

The personal allowance will rise to £12,500 and the higher rate threshold to £50,000 in April 2019, worth £130 a year for a typical base rate taxpayer."
 Chastirin
Joined: 10/3/2018
Msg: 18
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Posted: 10/30/2018 6:49:48 AM
I'll be £2.08 per month better off, according to some calculator thingy
 MintyWithACapitalM
Joined: 8/23/2018
Msg: 19
Managing on an Old Age Pension
Posted: 10/30/2018 9:43:46 AM

I'll be £2.08 per month better off, according to some calculator thingy.


Think of all the sweets you can buy!
 imanorangetiger
Joined: 12/29/2011
Msg: 20
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Managing on an Old Age Pension
Posted: 10/30/2018 12:53:01 PM
Thankfully, counselling is a career without an upper age limit, for I will need to work until one of my clients watches me expire in front of them. Or until my cat eats me, whichever comes first.
 changemydestiny
Joined: 4/3/2018
Msg: 21
Managing on an Old Age Pension
Posted: 11/1/2018 3:58:40 AM
Most of that will go one the stamped letter they send you to inform you of your pension increase - might be able to but a few drops of water with the remaining pence as nothing is free anymore.
 changemydestiny
Joined: 4/3/2018
Msg: 22
Managing on an Old Age Pension
Posted: 11/1/2018 4:50:17 AM
This response has been incorrectly placed by this site and should have followed the remark about pension increases, as that’s where it had been intended.
I did respond to your comment but it appears the moderator has squashed it!
 Justanotherchap
Joined: 12/4/2013
Msg: 23
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Posted: 11/2/2018 3:28:10 AM
Scratches head

It is in the right place.

And there are no moderators here. Has't been for years. So feel free to call Hammond a complete****if you like.





In order to maintain the highest quality forums you are restricted to having no more then 2 of the last 10 posts on a thread.
Since 2 of the last 10 posts are yours you can not post to this thread.
 try1more
Joined: 12/16/2007
Msg: 24
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Posted: 11/2/2018 5:00:37 PM
^^^^^^^^
the moderators had to go, as they were in danger of outnumbering the forum posters :-)
 Spectrallight
Joined: 9/14/2018
Msg: 25
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Managing on an Old Age Pension
Posted: 11/4/2018 10:08:21 AM

You need to need to write 'that' book, otherwise forget it.
I'm nearing the 3/4 point in my third book - if you don't have a publisher (I don't)
you are simply dead in the water.
The reason Waterstones et al are still with us is that Kindle etc. has peaked.


Hope this book you're writing works out.

You're correct and most will fail and be dead in the water. Let's say 1% chance if you're lucky.
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