I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@JasonStathamOffical That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@JasonStathamOffical The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
No apparently the real cost is the measly state pension . Public pensions of 2.6 Trillion , civil servents retiring at 60 with million pound pension pots........ nothing to see here .
Government saying on an almost daily basis that they cant afford the state pension but never mention the real problem of public pensions. 2.6 trillion but apparently the real problem is the measly state pension. Stop the Gold plated civil servant pensions.
You didn't mention Gordon Browns raid on pensions. think it a bit rich Angela Rayner whining about the triple lock pension when she has spent a lifetime on benefits, producing children out of wedlock and living in a council flat and happy to let the taxpayer foot the bill. I am no fan of either side. Seems like you have to pull your own wagon in this life while the politicians grow fat on our labours. I would also say we have the lowest pensions in Europe. I didn't retire until I was 70
You're lucky that you can retire of 70, most on low wages but full time workers there can't be a retirement date, these people have to continue till dropping time 90 perhaps.
I’m not British (I’m American-Polish), so I don’t know jack about your politics… I want to share one thing though - I managed to retire in my late 30s (I still work for fun, but I don’t really have to). It’s BEYOND ME how people TRUST politicians to take care of their retirement. If you don’t do it YOURSELF, others will screw you sooner or later. Investing isn’t even that hard nowadays. Put 40% in inflation adjusted BONDS and 60% in global ETFs (index funds). Adjust it slightly depending on your RISK profile and AGE. Take advantage of TAX-FREE accounts if available. That’s FREAKING it.
Well done on retiring at age 30. I am 66 and retired but my main concern is from my 23 year old son. 60/40 equities bonds mix is the standard though I am in favour of peer to peer lending platforms with property backed loans as they pay a little more and seem a little more secure. I believe the same as you that global index trackers wrapped up in whatever tax concession wrapper you can find is probably not only the simplest but also ironically the greatest gain in investment.. regards politicians, here in the UK politician called Gordon Brown messed up peoples pensions and after that I’ve never trusted governments. I am attempting to convince my son this is the investment route to follow, he has the one thing I don’t have: time! We are about to have an election and I would be very surprised if we did not have a labour, i.e. left wing government. As someone old enough to have lived through the 1970s in England, all I can say about that is comedians will have a lot of material to choose from!
@@andrewmurray3139 Thanks for your reply! Peer to peer lending is ok as long as it a part of DIVERSIFIED portfolio. However, I wouldn’t put all my capital into it. Regarding your son: You can’t force him to make the right financial decisions… but you should definitely EDUCATE him. When I talk to young adults, they are shocked when I tell them that I don’t need to work anymore. This is something UNUSUAL in my region. I can see that it opens their minds and motivates them. Typical retirement talk is way too BORING for young people. You need to tell them that if they invest in a smart way, they won’t have to work like SLAVES for 50 years. They could be financially FREE even in their 30s. It’s also important to educate about DELAYED GRATIFICATION. An expensive car bought when someone is 20 (long term loan, high interest) can mean financial RUIN; but a few years later, they might be able to get it without worries.
No need for us in Wales to speculate. Uncapped council tax rises and regular revaluation s will also rob England blind. Oh and £1600 per month for gimmegrants.
As some who can remember the last time they were in Power all I can say is stand by to EMIGRATE. During their last term in Power (mid to late 1970s) we ended up with working just 4 days per week, Supermarkets, shops in General and the Homes were restricted to energy use with very frequent Blackouts. Mass strikes and secondary picket lines, The Minors went on strike and called out other industries to make a point. Ask your Parents and Grandparents if they remember the Winter of Discontent. Never again will I trust that lot who were supposed to represent the Working Class.
I'm 100% certain that Labour will not repeat the mistakes / mismanagement of the past because those gold reserves, sold at a record low price (Due to going against Bank of England advice and announcing the sale to the markets in advance) are gone forever! Thanks Gordon Clown!
Labour will be atrocious, people think that things cannot get worse and then they do, look at the labour shadow cabinet and it's far worse than the Tory one at present, luckily I get my hands on my pension before labour get their hands on the spending, I'm going for a world stock excluding China if I can. Labour seems to represent a party for the unions rather than a party for the majority of working class people. Unions should not have political ties, their interests should lie in working to better their members working conditions, same as big business should not bank roll the Torys!?!
@@TomTomicMic I will look at history, and the Tories have destroyed the economy of this country for the past 50 years, unless you are employed in the financial services and work in London.
@Kalarandir I'm sure that you will agree that after Liebour's union paymasters destroyed the UK car industry the only hope to save jobs and livelihoods in other nationalised industries was to privatise them. BT, Rolls Royce and other privatised businesses etc are now thriving and efficient businesses employing thousands.
Isn't the biggest potential change removing higher rate tax relief on pension contributions. It makes no sense logically as people would be paying tax on earnings not received. If they do they logically need to make employer contributions a taxable benefit in kind with a credit at BR, this would push NQ Nurses into higher rate tax bands
Labour win will be a disaster for the UK & its people, they will promise £20/hr & free everything, but we all know it will never happen !! For the working class they will love to hear this but will be put in an even worse place financially !! I am 5 years away from retirement, i have Let properties which i am hoping to sell with the next 3 years, after working hard all my life to build a future for my kids, i refuse to be a Cash Cow for the Govt of the day !! Better the devil you know. TORIES mostly millionaire business background, LABOUR nothing, straight out of uni, thinking they know everything, as always as history shows, they will near bankrupt the UK once again !!
Thing is Tories seem to have created only Foodbanks to their name in 14 years in power & little else, workers pay has diminished due to the level of tax allowance being too low at 12,570 this needs to update to 15,000 to make any difference. Hitting the workers is the worst policy a government being guilty of will surely get elected out at the next election. May be Labour not any better but millions of workers have had enough of the current mess.
I disagree. The Tories have done nothing to help savers and investors. At least Labour's vision includes investing in national infrastructure programmes, reducing the red tape for housebuilders and growing the billion dollar renewables sector, and investing in the high tech jobs of the future.
@@OneAndOnlyMe pension companys can already invest the old avon county council pension fund have invested in 11 big solar power farms legal genral investing millons of pound in temple island bristol pension money; thousand of house already being built in bristol 4000 house in filton near bristol new wings being being southmead hospitial bristol and R U H Bath millons pounds on torbay hospital on solar farm to run the hospitial i could go on if wish ?
@@SteveHitchcock-g3t That's small fry though. We need mega projects. We need rapid transition to renewables. We need to be bolder. We need 300,000 homes to be built a year.
@@OneAndOnlyMe where to in bristol all old industrial site being built on public service streched where the money council tax high in bristol people have to travel miles for work mega thank god we have ride labour on bristol city councl after there 68 million pounds loss on bristol energy
I would only vote Labour if in their manifesto they promise to cancel that new tax purge on eBay, Vinted & Deliveroo etc, etc as this is designed to hit the poorest souls in society.
the more you look at whats on offer from experts in the pensions industry you realise you will be clobbered by the taxman eventually.Enjoy your money when youre young.The future is never given.
So many whinging about how crap things are but not prepared to put their hands in their pockets to pay for it. You get nothing for nothing, and that includes state allowances.
The Tories have moved £800 billion from the public purse to their funders, so people have reason to "whinge" about having to pay the highest taxes since WWII, just so they can claw back the waste.
So are you saying don’t worry? I’m really worried as I tend to take my pensions at the end of this year and are well over the old LTA, so stand to lose loads if the rules are reversed so should I take them before the election?
The tax raid on pensions by Gordon Brown (which was omitted from this video for some reason) caused a large proportion of my peers to shun taking out pensions in the first place. Instead, a lot of those people opted to buy second properties with the view that these would provide their retirement income. Labour are now looking to attack these landlords that 'they' basically created.
@@OneAndOnlyMe Do you have any evidence for that? The Conservatives usually go with the carrot rather than the stick approach. eg Extending the current ISA allowance, but only if you put that extra into UK companies. ie Encouraging people to invest more in UK companies, without taking away what is already in place. It will be interesting to see the details on that, when announced next month. Hunt's pension pledges so far have been to keep the triple lock on the state pension and letting workers choose where the company they work for sends their pension contributions to, helping to negate the problem of the £27bn 'lost' pension funds. Hardly showing signs of a raid. He's also looking to get Pension funds to publicly disclose how much they invest in UK businesses compared to those overseas. He's also wanting to encourage pension firms to provide products where 5% of schemes are invested in UK fledgling firms to help them and the economy. And schemes performing poorly for savers will not be allowed to take on new business from employers. Yes, let's shake our fists at the evil Mr Hunt for helping savers make informed decisions, looking to help UK business and pointing the finger at schemes that are performaning overly badly for pension savers. LOL
@@OneAndOnlyMe Do you have any evidence for that? The Conservatives usually go with the carrot rather than the stick approach. eg Extending the current ISA allowance, but only if you put that extra into UK companies. ie Encouraging people to invest more in UK companies, without taking away what is already in place. It will be interesting to see the details on that, when announced next month. Hunt's pension pledges so far have been to keep the triple lock on the state pension and letting workers choose where the company they work for sends their pension contributions to, helping to negate the problem of the £27bn 'lost' pension funds. Hardly showing signs of a raid. He's also looking to get Pension funds to publicly disclose how much they invest in UK businesses compared to those overseas. He's also wanting to encourage pension firms to provide products where 5% of schemes are invested in UK fledgling firms to help them and the economy. And schemes performing poorly for savers will not be allowed to take on new business from employers. Yes, let's shake our fists at the evil Mr Hunt for helping savers make informed decisions, looking to help UK business and pointing the finger at schemes that are performaning overly badly for pension savers. LOL
@@OneAndOnlyMe The only things that relate to pensions from Hunt are him committing to the triple lock (which Labour haven't), removing the lifetime allowance upper limit and him trying to encourage pension providers to at least include 5% UK UK internal investment focussing on helping startup firms. Oh the rotter! LOL What are you suggesting he has said that points to a raid?
