[dignityinclay]

http://www.telegraph.co.uk/finance/p...l-I-drop.html?

Do you think its good to have such a liberal attitude towards money ?

[fuzznbass]

Not so much if you have kids

[ForgettingWhatsername]

I'm not really one for saving a lot of money to be honest, I'd prefer to just live for today. I could get killed in traffic tomorrow and then savings wouldn't be much good to me.
It's different if you have children though, if I had children I'd make sure to save a certain amount each month to help them out when they go to uni etc.

[jacketpotato]

Its pretty irresponsible. The age expectancy of young people now is something like 100, does he really think he will be capable of working full time from 70-100? The state pension will be absolutely tiny by then.

[JordanS93]

(Original post by jacketpotato)
Its pretty irresponsible. The age expectancy of young people now is something like 100, does he really think he will be capable of working full time from 70-100? The state pension will be absolutely tiny by then.

Of course he won't be capable of working by then. Most people by 70 and certainly by 100 will have some kind of disability. So people considering working past pension age won't have to because they will have disability benefit.
3 of my grandparents are alive the youngest is 70 and the oldest is 77 and they all have state pension and some kind of money for a disability.

[jacketpotato]

(Original post by JordanS93)
Of course he won't be capable of working by then. Most people by 70 and certainly by 100 will have some kind of disability. So people considering working past pension age won't have to because they will have disability benefit.
3 of my grandparents are alive the youngest is 70 and the oldest is 77 and they all have state pension and some kind of money for a disability.

Your grandparents and old people in general have a really sweet deal right now. They are still living on a state pensions and benefits system designed for people with a life expectancy of around 80. Its not sustainable and the problem is getting worse, it will have changed by the time we are old. I don't think you can assume you will have more than a tiny state pension in old age.

[JordanS93]

(Original post by jacketpotato)
Your grandparents and old people in general have a really sweet deal right now... I don't think you can assume you will have more than a tiny state pension in old age.

I agree with everything you have said. They do have a 'sweet deal' they get: state pension, disability, winter fuel allowance, free TV licence, and a free bus pass. Not to mention some old people also have a private pension. I think they also get free or discounted prescriptions (not sure about that though).

Things must be changed because it is unsustainable and I do think most of these privileges will be scrapped within the next couple of decades and be well and truly gone before I or you get anywhere close to pension age.

[Mutedmirth]

Link isn't working.

Saving for things in the short term I think is a good idea, like for cars, mortgage deposit, ect and a buffer in case you lose your job, but long term like for pension, who knows what could happen in 10, 20 or more years. Our currency could collapse, banks could fall or anything else that rocks the value and then you're left with nothing in your savings. Most of your savings would be taxed once they go over a certain amount or you will be taxed more in general.

I think if you work, pay taxes and don't do any serious crimes then you should get all that free stuff and looked after when you're old. This is why people pay taxes, to help in their old age.