Everything and nothing. Read it, shrug your shoulders and move on.


Friday, May 26

Why working to 68 doen't bother me

Now that the Government has upped the State retirement age from 65 to 68, it's worth looking forward to see if the change will bring the sky down upon my head as some tabloids are squealing.
Well, with grandparents still in rude health in their eighties and parents approaching their sixties who don't look or act much different to what they did in their forties, barring accident or injury the chances are my innings will get close to the ton.
Added to that genetic inheritance is the lifestyle that has assimilated the five portions of fruit & veg, 8 glasses of water and minimum of thirty minutes exercise a day (Not to mention the cutbacks in puffing and pissing my health and wealth all up the wall) which certainly won't hamper my odds of racking up a good score.
So i'm not likely to pass this mortal coil within a few years of retirement, which is what was expected of the great majority of us when the state pension was introduced, and won't be on my last legs age and health-wise by 68, but what about financially and socially?
Firstly, I believe that the goalposts have shifted from my parents generation to mine (As theirs had from their parents) and that it just won't be possible to attain the same as them in retirement. Somewhat gutting but hey ho, you have to cut your cloth accordingly and forget any similar dreams of retiring on three-quarters of your final salary at 55 or whatever.
Not that such a dream is as prevelant in my generation as my parents though, possibly because we're not cramming our working lives in so tightly and so manically while praying for the day when we get time for ourselves. We're fitting some of those retirement plans in during our working lives by virtue of having more time and opportunities through having children later in life (If at all), by having flexibility within our careers and by travel being much easier & cheaper.
While financially it may be different & difficult for a generation raised on easy credit and easy debt yet excluded from the safety deposit box of the housing market, however there may be positive unintended consequences derived from that which would be quite un-English but could be quite healthy for society.
There are already rather a lot of Timothys still living at home through financial constraints, so there is a distinct possibilty that the trend will expand to pull all the generations of the family in under one large roof, with the result that the family wealth is shared, communities are re-established and ageing parents aren't fobbed off into expensive nursing homes.
So by the age of 68 when I can retire (If indeed I want to) i'll be looking forward to another decade or two of good health, having already lived a good life full of fun & experiences, and surrounded by those who matter the most.
All that would be needed to nicely round it off would be England winning the World Cup during my lifetime...

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