Tuesday 23 October 2012

"Young people warned: You may never be able to retire"

From The Metro:

The stark assessment comes from those who have already reached retirement age but cannot afford to give up working.

More than a third of the 1.4million over-65s still in work said they would never retire, a survey by pensions provider NFU Mutual found.

This is to some extent propaganda pumped out by a pension/insurance company who want to blackmail people into handing over a large chunk of cash every month in the vague hope they'll get something back in decades to come, but there is some truth in it.

Having feathered their own nests, the Baby Boomers are quite happy to let somebody else sort out the wreckage. If they had their way, you'd be paying rent on their BTL portfolios or paying off a huge mortgage for the rest of your life anyway, because your rent or debt burden is merely the flip side of their retirement income.

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