I’m not against saving, or investing, i’m simply against pensions. Just to clarify.
I think they are a con, just like every other pyramid scheme, I have seen several relatives have the value of theirs obliterated through no fault of their own. I don’t like the lack of transparency, the complexity, or the way that once you put that money in, you will never see it again. You just get an imaginary pot to bargain with at the end, in the hope someone will offer you an annuity that is considered fair. Then you might die anyway.
It’s gambling at it’s worst, on both sides, and I don’t like that.
The problem is, everyone is too ■■■■ scared to say no to them, because we cannot process the thought of something so large in scale with such detrimental consequences (real or imagined), but it’s a well designed system that has been carefully designed over years and years to induce this in people, and it is very good at doing so. It’s going to get harder to ignore them because the government is about to force you to have one (starting with forcing companies to provide one).
If you do live past 65 but can no longer work, how will you pay to live?
One thing is certain, I won’t be expecting anyone else to cover for me, if that is what you are getting at? I’m not in favour of the welfare state at all.
I’ll let you know when I arrive there, i’m reasonably confident i’ll have something sorted out, my tastes are simple, and getting simpler. I can live very cheaply and still be happy.
But i’m also fairly convinced retirement will be a thing of the past by the time it comes along. At the rate they are already advancing retirement age.
Only the infirm will not be expected to work, and the definition of infirm will be incredibly strict by then.
Our whole culture is based around the idea of retirement, and I think this needs to be binned, and some sort of paradigm shift occur, because life is about being happy, and nobody is. Something is wrong, and it isn’t getting better. We exist to be slaves, so a very small and select group can be made super rich.
But that’s beginning to go off track.
Retirement = carrot dangling in front of face (the carrot being the promise of happiness).