Retirement

[Offshore Toon]

I've only really taken retirement seriously in the past year. I'm not sure what will happen, but with the way things are going do you think the average person will be able to retire at 65?

A lot of people seem to be taking more interest in handling their money these days and a private pension seems like it should be the bare minimum in terms of planning for the future. If a universal basic income comes into play I'd imagine a lot of people will attempt to buy a house and then just live off that.

[Ian]

I fear it'll be 65+ for me. Early retirement really does sound like the dream but I don't imagine I will be able to do that.

[Lewis]

If there is any sort of recognisable retirement/pension system by the time we get there the age will be closer to eighty than seventy, so it seems to me (admittedly based on general pessimism more than numbers) that you would be better off ensuring that you don't have any debts by the time you hit sixty-ish than investing in a private pension, which are always liable to be raided by governments anyway.

[Spikey M]

We probably won't be allowed our State Pentions until we're about 87 at this rate. My current company pension has me retiring at 68.

I hope to retire at 60 and will continue putting money away to hopefully allow for it but I'm only a quarter of the way through my working life (christ....) so who knows what will happen over the next 3 decades.

[Boydy]

If there is any sort of recognisable retirement/pension system by the time we get there the age will be closer to eighty than seventy, so it seems to me (admittedly based on general pessimism more than numbers) that you would be better off ensuring that you don't have any debts by the time you hit sixty-ish than investing in a private pension, which are always liable to be raided by governments anyway.

I've seen that terminology before but I've never really been sure what it means. How do governments "raid" private pensions?

[Spikey M]

I've seen that terminology before but I've never really been sure what it means. How do governments "raid" private pensions?

Taxes and interest rates presumably.

Also, they're almost always ran by HedgeFunds so you're ever vulnerable to a market crash. I'd love to know how many people had their retirement plans fucked by the Reddit GME stuff.

[Lewis]

Yeah, just nibbling away at them with tax changes and the like. Pensions RAID is a bit tax BOMBSHELL, but we are where we are. Any worthwhile pension fund would probably be in line for a hit if any 'wealth tax' came in as well (as would property, but at least you would live in it), so future-proofing them seems difficult to me.

[Pepe]

As early as possible, I hope, but probably at 65+.

[Don]

I'm still fully basking in the glory of my week off (I haven't slept this well for months) and it just makes me yearn for retirement ASAP, especially now that the office culture is dead which was essentially all that made it sustainable for those of us who didn't follow a PASSION. I say retirement but I'll still look to hold some sort of position to keep me busy. Unless I decide to reproduce, I should be able to give up this disgusting life and find an enjoyable pursuit with no pressure to think of money far sooner than most.

[Shindig]

65+ but I've never stopped saving since I started work. Fuck knows where that'll lead.

[Kikó]

Money as a concept will be destroyed in 40 years as we all live in a mad Max type world.

[Shindig]

40 years? I'm almost home at that rate.

[Lofty]

I've got a FINAL SALARY PENSION TM so naturally I expect that to evaporate into thin air when I am near retirement age.