Child Benefit cut

[llcoolphil]

What are you going to do for income when you retire ? or get too ill to work ? etc

[oafc0000]

How big a pension do you think I could build up between now and when i retire? How much a month would that cost? How much in savings do you think I could build up between now and when I get too ill to work - and how long would those savings last? How much would I need to give up now in order to facilitate this? How long am I going to live for?

[llcoolphil]

I think you need more guidance than I can give you to be honest

Edited October 5, 2010 by llcoolphil

[oafc0000]

So you've judged me thick but can't explain why.

But that isn't the case. You've told me what I do now is stupid but actually have no material facts to back it up. So, again, what can I hope to achieve when i retire or when Im too ill to work. If you're telling me that's what I should be doing, surely you have some idea of what I can hope to get out of it? No? Or are you just saying 'you should do this and I actually have no idea why'?

[pehaw]

I guess if you are happy living off the bare basic provided by the government then good luck to you... Its stupid in my opinion when you have other options

[oafc0000]

You could get knocked down by a bus tomorrow. f**k it.

We have flexi hours at work and I always stay a few hours in debit. Would hate to cop it and find i'd worked more than I needed to.

[pehaw]

We wasn't talking about working... We was talking about pensions / savings... The money is returned to your family if you die with most pensions...

[llcoolphil]

I guess if you are happy living off the bare basic provided by the government then good luck to you... Its stupid in my opinion when you have other options

[feral chile]

You denounce my rights but uphold your own made up right there surely...

[llcoolphil]

The money is returned to your family if you die with most pensions...

[oafc0000]

You're living in a country where you have the right to earn more than the average wage. And the right to hold onto more than the average wage.

because of these benefits, you share more of the tax burden than low wage earners, and receive less benefits, as you don't need them.

So you're already getting your share of the country's pot. You shouldn't be complaining about giving a little to those less fortunate.

I really, really hope that if I ever end up with more money than average, that I'll still have a social conscience. And realise I'm just lucky, and not deserving of my wealth. It would be part of the country's wealth that I have, after all.

[gratedenini]

We wasn't talking about working... We was talking about pensions / savings... The money is returned to your family if you die with most pensions...

[oafc0000]

You say I have other options but have absolutely no idea what these options actually are. If Im too ill to work, why do I need a load of extra cash? If Im too ill to work, Im too ill to go out and spend it. What would be the point of giving up £150 a month now in order to give myself significantly less than that a month when I retire?

[oafc0000]

But, My Mates would go to his Ex wife wouldn`t it? (if he had one that is..pension).

I suppose if yer on a grand a month yer can get by depending on yer CSA and housing arrangements.

It obviously is working for you looking at your full book of engagements... but you cannot be comparing the likes of you/me and the rest with the sire of our Future Leader who will sacrifice an Olympic swimming medal to rescue the country from Tryranny.

den (still Officially in Poverty)

[feral chile]

Im not

[llcoolphil]

Your presumption you would get less is silly...

[pehaw]

Actually it isn't. It is based very much in fact. For me to achieve a private monthly income (call it a pension) of £150 per month when I retire, how much a month would I have to start putting away now?

[oafc0000]

Actually it isn't. It is based very much in fact. For me to achieve a private monthly income (call it a pension) of £150 per month when I retire, how much a month would I have to start putting away now?

[gratedenini]

You should of been putting away earlier really...

There are investments you could do which would give you £150 a month over a shorter period than a pension...

Or you could get a pension and pay £150 a month to give you a smaller amount over a longer period...

Or you could just do nothing, spend it all, and live of the basic government provision...

[oafc0000]

Its too late for My Mate. Its a very difficult concept when you are young to contemplate the future...and by the time you do..its too late.

Then the amount you need to pay in,to get a reasonable,worthwhile amount back is extortionate.

He cant afford £150 a month!!

You just hope that yer can put a bit aside and manage on whats dished out by the govt.

den

[llcoolphil]

You should of been putting away earlier really...

[llcoolphil]

Suppose I was lucky... My dad drummed into me the need to save from being very young...

[llcoolphil]

How old are you? When do you want to retire?

[oafc0000]

To cover the cost of living you when you finish working...

[oafc0000]

Irrelevant, you said I was stupid now.

How much would I get and how much would it cost - remember, you called me stupid for not soing it so you must have some idea about the costs and benefits.

So I could pay £150 a month fpor the next 21 years and then get less than that a month back if I live until 90. In 21 years time, what will £150 a month be worth in real terms?

You see, I live a fairly simple but very full life now. Im not sure why you think I'll need money for a more elaborate life when Im older.