Indeed!
Many years ago I was chair of governors at a large FE College and the finance officer was an absolute star. He was young and ambitious and controlled the college finances perfectly.
We were chatting informally and got on to the subject of credit and how easily it was to get financially stuffed if it wasnt managed correctly. I was gobsmacked when he told me that he personally had 4 credit cards all of which were maxed out almost permanently.
Even though he was a whizz at his job my view of his credibility to continue changed from that day.
Similar moment of truth, for me… when our “golden boy” Finance Director told me that the only correct way to run Finances was on as much credit as one could get … and invest…
Sadly, as it turned out, he wasn’t that good a “juggler” 
and wrecked the Company.
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need one say more… “Chunky Mark” nails it…
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I still have a vote!
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I don’t usually watch videos on social media Graham (doesn’t fit my lifestyle or skillset) but made an exception for this - glad I did - it’s good - supports the case I often make that the real difference between the political left and right is nothing to do with policies, etc, but the left’s belief in human reason, evidence and truth versus the right’s belief in authority above evidence, irrationality/superstition, prejudice over realism, etc - not to mention that the Republican/Tory ‘culture wars’ are an invented distraction. Highly recommended!
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Not sure about this DJH - but those people on UK pensions could be sitting pretty soon, as I think inflation in France is likely to be about half the UK rate this year!
Sorry what, in summary, was the issue with Sunak’s incredibly wealthy wife? I don’t see much UK press, but having glimpsed the real identities behind quite a few UK private banking clients I would say she must have not taken the usual steps to protect herself.
The point about the triple lock is it is a very slow catchup plan. It still has many years before it would provide the remedy towards fairness that was voted for across parties when it was brought in. UK pensions having fallen so far below even what’s required for even very basic living requirements in the UK. Even the very recent years of some increase were still leaving many pensioners having to choose between heating and food, my partner being one. Even current level is well behind much of the civilised Western world in absolute terms as well as relative to the cost of living.
I would suggest that in general most people with the resources (inner strength and capability as well as physical and other resources) to move to another country are stronger than others snd maybe luckier but so many UK pensioners have much less and we should not lose sight of it.
I’m excited… £4.75/week extra on my DWP pension from 11/04/22… I shall invest it wisely, of course.
Its another bottle of wine a week (or a couple of bottles of plonk)
OH’s pension was due next Tuesday but was paid this morning, 4 days early but about the same € as usual with a little give and take for ER fluctuations
Around 70% of UK pensioners get the majority of their retirement income from private pension or investments rather than just the state pension which is almost seen as a ‘top-up’ to many, unfortunately though there are still a sizeable number of pensioners who have to survive solely on the state pension and it’s those people that struggle the most when the cost of living rockets.
not at all surprising as the date of uplift will be effective on a date in April dependant on your NI number so your next payment will probably reflect the full new amount.
It’s a lower proprtion than the 70 you mention Tim, I saw it in the financial press very recently. It’s nearer 50% or perhaps a bit more. Worringly, women are much greater % of those having only the state pension, many not getting the full pension either.
Until recently, state pension was all the great majority had. So it makes sense that it is like that for existing pensioners. Autoenrolment has made massive difference but will take decades to feed through into overall more secure retirements.
And noting the government is still refusing to allow anyone under 22 or so to autoenrol (the person is always allowed to opt out, say if their earnings are really low and they can’t afford it). And the government is also refusing to allow anyone that doesn’t have at least £10,000 earnings in a single job to have autoenrolment.
Guess who makes up huge percentage of low paid people and people with 1 or more part-time jobs… even if those multiple part-time jobs add up to £10,000 so no access to autoenrolment…Yup, Women are the majority in these categories who are being refused auto-enrolment, and so they miss out on at least 3% of their salary being added extra by their employer and invested for their future.
Hmm… OAP is my pension. It’s not a full one as I had time off to be with our daughter… but I have no regrets about that, family has always come first with us.
Now, I’m glad to have whatever pension the govt gives me.
But, I got very excited when the “triple-lock” thingy was announced 'cos I worked out how much it would be and … " that’ll do me nicely, thankyou!!" …
Huh… someone overheard my glee and cancelled it, didn’t they… Rotters !!!
This is from 2017/18 -
The fall in interest rates has hit pensioners hard.
We were all encouraged to save for our retirement and and we have been badly disadvantaged.
The failure to keep to their manifesto promise regarding the triple lock is just another example of Boris and his lying.
Mind boggling figures… I can’t make out where they truly come from but they bear no resemblance to my state of finances… and possibly not to many other folk either…
“The government’s most recent data (taken from 2017/18) shows the average weekly income for pensioners to be £304 – that’s after you’ve taken away direct taxes and housing costs. This works out at around £15,080 net per year.”
Where/how do I claim to get my pension upped to £15,080 net per year… please…
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The trouble with ‘averages’ is those at the lower end are left scratching their heads thinking ‘that can’t be right’.
Yes, absolutely. It’s a reason we bought the French house - money saved actually loses value with so little interest.