Baby Boomers must die...

[Drake Tungsten]

Let in massive numbers of Eastern European and Latin American immigrants.

No Africans or Asians? Get out of my thread, you racist...

[KrazyHorse]

Originally posted by Drake Tungsten
Africans or Asians

Even worse.

[Dauphin]

Originally posted by rah
Not as a whole, but I was specifically mentioning ME personally. I can guarentee that I'll only see a small percentage. And I'll bet that most of they youngsters that are complaining aren't doing it for their generation, they're complaining about it for themselves.

You've paid in over $100k you say.

Given your age, that would buy you an annuity of around $500-600 a month on the open market. Want to settle now?

[SlowwHand]

I'm already on record as believing I'll be screwed, and certainly my daughter will be, if she follows status quo.

Just like you young pups.

[Dauphin]

What worries me is that private pension pots seem ridiculously small:

http://www.statistics.gov.uk/cci/nugget.asp?id=1279

In 2002/03, 55 per cent of men and 73 per cent of women with personal and stakeholder pension funds had a total fund value of less than £10,000.

I can only hope that it is because it's mostly younger persons who have stakeholder pensions schemes.

[Pekka]

We have this very same question here.. and it's not like we don't pay a lot of taxes already.

But the way I see it, we'll just have to take it. The old folks have done their job, period. If we say, well you have this pension now, if we take it away just like that.. I mean where would we be going to after that... Everyone needs to be able to trust, that when it's your time, you can sit back and relax, that's the bottom line. If these baby boomers are going to be a burden, well then that's the way it'll be. When I'm old, I'm going to expect that the youngsters then will agree with me and also go ahead and just do it. It's a cycle, what comes around goes around.

[Hueij]

Baby Boomers must die...

Don't worry, we will...

[Drake Tungsten]

Not fast enough, though...

[SlowwHand]

Too bad, so sad. I ain't going. What do you think of that info?

[Drake Tungsten]

We have ways of dealing with resisters...

[MRT144]

Originally posted by Imran Siddiqui


Do you really want to deal with 80 year olds driving to work during your rush hour commute?

they can be the poster children for commuting to work via public transit.

[Dinner]

Originally posted by Dauphin
You've paid in over $100k you say.

Given your age, that would buy you an annuity of around $500-600 a month on the open market. Want to settle now?

TEH PWNAGE!

[SlowwHand]

The statement from SSI says that to date I'd get about $880 a month at retirement age.

[Drogue]

Originally posted by Dauphin
You've paid in over $100k you say.

Given your age, that would buy you an annuity of around $500-600 a month on the open market. Want to settle now?

Is that including the years of interest on that $100k?

However $100k is short of what it would take. I reckon around 10% of your salary over your entire life (40 years) would amass enough to retire on half your age 50 salary.

Originally posted by Dauphin
What worries me is that private pension pots seem ridiculously small:

http://www.statistics.gov.uk/cci/nugget.asp?id=1279

In 2002/03, 55 per cent of men and 73 per cent of women with personal and stakeholder pension funds had a total fund value of less than £10,000.

I can only hope that it is because it's mostly younger persons who have stakeholder pensions schemes.

Except it isn't. Most people today in their 30s and 40s, in the UK, still expect savings to be a 'top-up' to what the government provides. Hence the new systems helping them save more, forcing them to unless they opt out. As if they don't save, we have a huge burden on the tax payer in 20-30 years. With current policies and inflation-linking, we don't.

You know the single biggest factor that has an effect on how big someone's pension is? Whether or not their employer has an automatic pension scheme. Most people don't do it off their own bats.

[KrazyHorse]

Originally posted by Drogue
However $100k is short of what it would take. I reckon around 10% of your salary over your entire life (40 years) would amass enough to retire on half your age 50 salary.

That seems overly pessimistic, according to a quick spreadsheet calculation.