Monday, 4 July 2011

retirement the boomer way

special pleading I suppose, but as there has been so much written lately about people who were born in the few-months window in which I was born, 1953-54, and their retirement plans and prospects, let me put my oar in.  But first let me commend this, which obviously I did not read at first as it is in the Filth, none the less is it is worth reading.  Anyway, it is a good and intelligent read, but makes the rather simple point too that the future pension benefits of the young are being sacrificed so that the likes of me can have a happy and prosperous retirement.  Er, I think people are a bit more various than that.  If you start work at 22, never stop, buy a house at say 31 and stay in it, and you are my age, you are probably going to be one of those prosperous baby boomers.  I didn't do that.  Although I have not had many jobs, and have stayed quite a long time in each of them, and they have all had good pension schemes.  Also, unlike many women, I never stopped work.  So I have significant pension build-up.  But not enough for a fab lifestyle.  I was divorced at 40, and divorce rarely makes anyone better off financially.  It helped me to understand the adage "'Divorce: cut out the middle man.  Find someone who hates you, and buy them a house.'"  That is precisely how it is.  So I have no property wealth, because I had to start again in my forties.  Shit happens.  I don't cry about it.

I don't have a huge amount of sympathy with those who say that they have built their life on the assumption that they would stop work at 60, and are disappointed that they cannot.  Ditto, shit happens.  But I do have sympathy with those who want, and need, to work as long as possible to ensure their retirement, and who find themselves perhaps made redundant in their late fifties and unable to find other work.  Then their plans go right down the toilet.   And my generations has parents who are very elderly now and who often need care.  And who is going to pay for it, blah blah blah?

Well, no-one said the answers were easy.  But let us remember that we are rich.  Very very rich.

1 comment:

Anonymous said...

Yes. it is a bloody sight harder to find work in your fifites than it is at thirty six and three quarters, I have been in both places and I know.

You very often have to do other things - or a variety of other things - and none of them that you would have considered at thirty six and three quarters. I think that is shit. You are right, too about the effect thta a divorce in your forties can have - especially on women's financial position. My unexpected divorce at the age of 44 literally ruined my life. Not because I cared about the bastard. I hope he dies in real pain and am glad that I will probably never see him again. But it wrecked my earning power and the long-term family effects ruined my career. It was not what it should have been because of the knock ons of the divorce. I get more and more angry about this - not less - and it was 12 years ago now. Sod 'retirement' - who wants to bloody retire?!! Not me. But some of us wanted to be able to do our best with the abilities and opportunities we had - and some posey git stopped us. A shame you can't order someone cancer on demand.