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Forums > Social Discussion > pensions
Login/Join to Participate2,443 posts
Location: nottingham - the land of opportunity lol!
ok, so today i get back from an art exhibition which was very good!! (pre raphealite)
and i walk in my front door to find an envelope for me (i get very excited when i get mail)
and then i open it up and its from the state pension people, so i'm thinking this is awfully strange and it was telling to start saving for retirement and make myself a pension plan. how weird and i only turned 16 last week.
can anyone tell me the logic behind this or has anyone experienced anything similar, as i just dont get it! lol.
Shhhhhh! the boobies are trying to sleep.
owner and the property of noddy.
*i was a caterpilla last night 
* - libby_tuesday
15,417 posts
Location: South Wales
maybe they know something you dont?
2,443 posts
Location: nottingham - the land of opportunity lol!
like what that i'm secretly 30 or something lol!
i really hope this can be explained
Shhhhhh! the boobies are trying to sleep.
owner and the property of noddy.
*i was a caterpilla last night * - libby_tuesday
3,380 posts
Location: At the bottom of the garden with the fairies...
i got one too. everyone should get one when they turn 16.
THWACK!!!!
Liz_Ard: Ouch!
SNOOPoi: Thats just not the sound of someone doing it right!
2,443 posts
Location: nottingham - the land of opportunity lol!
why though its stupid!
Shhhhhh! the boobies are trying to sleep.
owner and the property of noddy.
*i was a caterpilla last night * - libby_tuesday
Carpal \'Tunnel
3,136 posts
Location: Warwickshire, United Kingdom
stupid to save money towards a pension
Pooh-Bah
2,444 posts
Location: Bristol !!!!!!, United Kingdom
You really need to take the advice they give you. At 16 i never thought about pensions. Now, at age 23, i've been paying into my private work one for 6 years and judging by the predictions about our generations pensions i'm sure glad i am.
You might not want to think about it or think you're too young but waiting until you are thirty and then doing something about it is too late.
Aren't i sad
but at least when i stop working at the stupid age they're predicting (70) i'll have some money which i'm going to spend on super charging my granny scooter Gayle.....!
2,443 posts
Location: nottingham - the land of opportunity lol!
lol cool. but i mean i still think its a bit unfair to put this pressure on 16 yr olds who have just left school thinking about college exam results flying hormones and then on top of that pensions they make the real world life start far too young i think personally.
Shhhhhh! the boobies are trying to sleep.
owner and the property of noddy.
*i was a caterpilla last night * - libby_tuesday
3,380 posts
Location: At the bottom of the garden with the fairies...
it's not pressure babe. it's sensible. you don't HAVE do do it if you don't want to. if you do you will get a good pension when you retire if not you will get a crappy state one n be poor.
but i will take you shopping if you're poor hunny
THWACK!!!!
Liz_Ard: Ouch!
SNOOPoi: Thats just not the sound of someone doing it right!
2,443 posts
Location: nottingham - the land of opportunity lol!
thats it i'm marrying a rich old man and then inherit all his money in like 2 years when he dies !!!!
Shhhhhh! the boobies are trying to sleep.
owner and the property of noddy.
*i was a caterpilla last night * - libby_tuesday
3,380 posts
Location: At the bottom of the garden with the fairies...
will you take me shopping? THWACK!!!!
Liz_Ard: Ouch!
SNOOPoi: Thats just not the sound of someone doing it right!
2,443 posts
Location: nottingham - the land of opportunity lol!
oh yeah of course!
Shhhhhh! the boobies are trying to sleep.
owner and the property of noddy.
*i was a caterpilla last night * - libby_tuesday
veteran
1,453 posts
Location: Lancs England
im 26 and dont have a pension or saving i have a total of £600 to my name and im happy
before i met those lot i thought they'd be a bunch of dreadlocked hippies that smoked, set things on fire ,and drank a lot of tea but then when i met them....oh wait (PyroWill)
Carpal \'Tunnel
3,252 posts
Location: sheffield, United Kingdom
Given the pension scandels over the past few years, and the fact that by the time we're going to be getting them, it looks like there will be huge social issues due to 'old' people outnumbering young ones to a greater extent than ever before; I think there are maybe grounds for questioning the wisdom of inputing into pension schemes.
"You can't outrun Death forever.
But you can make the Bastard work for it."
--MAJOR KORGO KORGAR,
"Last of The Lancers"
AFC 32
Educate your self in the Hazards of Fire Breathing STAY SAFE!
veteran
1,453 posts
Location: Lancs England
"There have been more births than deaths in the UK in every year since 1901, with 1976 as the only exception."
National Statistics.com
before i met those lot i thought they'd be a bunch of dreadlocked hippies that smoked, set things on fire ,and drank a lot of tea but then when i met them....oh wait (PyroWill)
what goes around comes around. unless you're into stalls.
4,030 posts
Location: Bali, Australia
There's an astonishing logic about compound interest (getting interest this year on the interest earned last year...) that shows that people who save a bit young and then leave it are going to be amazingly ahead of people who start later, even if those late starters put heaps of money away.....
So actually putting away a few dollars a week into somehting that earns interest from 16 is an excellent idea.
The difficulty of course is where? Many pension schemes etc charge annual fees/management fees etc that can eat away at gains. So put it somewhere with the lowest fees you can/ reasonably high interest. A tiny bit of attention to this now could be worth a dozen wonderful benefits later... travel, better housing, amazing 21st century glowpoi!
I paid no attention to this whatsoever when I was young, travelled, had a great life... now I am 52 and still totally broke!!! Doesn't matter to me much now but I suspect it will a lot in 10-15 years time, when I don't want to /can't work so much /if my health was to go etc. Or if I want to do the sorts of favours to my kids my parents have been able to do for me....
The other thing the currently 'older' generations' were able to do well was to buy property.. though the ratio between annual income and prices is vastly different now to what it was...
Not that I expect any 16 year old to pay the slightest attention to this! (mind you my 14 year old daughter is very aware of this stuff.. has been saving for years ever since she realised about the compound interest thing.... I just had to twist her arm to persuade her to follow in my footsteps and spend her life savings travelling!)
.....Can't juggle balls but I sure as hell can juggle details....
2,443 posts
Location: nottingham - the land of opportunity lol!
cool i'm taking all the information given to me in account but why cant i just save without a pension plan i have been saving since the age of 19 days old. not my choice like though lol.
so i already have 600 pound banged up in an account.
i cant touch untill my parents take it out for me though. well i not a mass fan on travelling because i get paranoid but i do want to visit japan before i die so i guess saving would be a good option but why a pension plan why not just advise young people to save in a savings account at a bank
Shhhhhh! the boobies are trying to sleep.
owner and the property of noddy.
*i was a caterpilla last night * - libby_tuesday
what goes around comes around. unless you're into stalls.
4,030 posts
Location: Bali, Australia
Possibly because pension plans 'lock it away' so you can't get at it and be tempted to spend it.
There are also probably lots of nastier reasons like...the people who run the pension plans make a lot of money out of them that they donate to the political parties who are in government!!!
Whichever way it works for you: bank savings, pension plans (where they are investing your money 'on your behalf' and giving you part of the profits....) property, art dealing... Whatever your gig is! Good luck!
.....Can't juggle balls but I sure as hell can juggle details....
2,443 posts
Location: nottingham - the land of opportunity lol!
thank you
Shhhhhh! the boobies are trying to sleep.
owner and the property of noddy.
*i was a caterpilla last night * - libby_tuesday
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