Whats your exit strategy?

[difflock]

P.S.

A Bridesmaid of ours, having retired from a Band 8 Physio post, while also having been paid(albeit part time) as a full Colonel in the TA, is in such hardship in her recent retirement that she has "blagged" a Consultancy type role with our apparently not-so-impoverished Dept of Agri, and sommat else forby, but I forget what.

How the other v small %age gets by!

[eggsarascal]

8 minutes ago, difflock said:

Would that not be your brother?

Wot you mentioned in another post a while ago, if I recall.

Nah, he's earned his dough and invested it wisely. I don't know if he's in the 40% brigade now he's retired. I would think he is because he still does a couple of days a week consultancy work.

[skyhuck]

2 hours ago, forestboy1978 said:

and your offspring will also pay inheritance tax on that which you bequeath them, 

You only pay inheritance tax on anything over £325,000, thats far more than the vast majority will leave.

[Khriss]

1 hour ago, forestboy1978 said:

coffee?

.... No mate. If you darken  yr hair with that it gets sticky n you stink like Costa ? K

[forestboy1978]

7 minutes ago, Khriss said:

.... No mate. If you darken  yr hair with that it gets sticky n you stink like Costa ? K

I see...

[Big J]

1 hour ago, skyhuck said:

You only pay inheritance tax on anything over £325,000, thats far more than the vast majority will leave.

Sadly that's only just a touch more than the average house price around here (which stands at £290k). Combine that with any other assets you might have and the government will get their pound of flesh, sure enough.

[skyhuck]

1 minute ago, Big J said:

Sadly that's only just a touch more than the average house price around here (which stands at £290k). Combine that with any other assets you might have and the government will get their pound of flesh, sure enough.

Maybe, just maybe it would be better if you lost the lot when you die, total reset. That way everyone would start from the same place, no huge leg up from past generations?

 

I bet house prices would soon fall.

[Big J]

1 minute ago, skyhuck said:

Maybe, just maybe it would be better if you lost the lot when you die, total reset. That way everyone would start from the same place, no huge leg up from past generations?

 

I bet house prices would soon fall.

I can't say that I disagree, certainly not in principle. 

 

It's a tough sell though as there aren't too many of us out there that aren't going to work hard in order to give our kids (and their kids) the best start in life. Selfish desire to look after one's own trumps utilitarian philosophies! 

[the village idiot]

26 minutes ago, skyhuck said:

Maybe, just maybe it would be better if you lost the lot when you die, total reset. That way everyone would start from the same place, no huge leg up from past generations?

 

I bet house prices would soon fall.

That's quite an interesting idea.

[LeeGray]

I think as much as we’ll all be grafting for a long time trying to give the kids a leg up it’ll probably all end up getting sold to pay for the last 20 years of care we’ll be needing. Think if we all knew what was coming we’d live well, give the kids as much as we could along the way to get them started not worry about what we were leaving behind, have 5-10 years dicking about with the lifelong list of projects once retirement age, equity release spend the cash then take the shotgun out to the shed.

Sounds grim but seeing father in law have a major stroke at 83 and potentially keep going for another ten years with all the care he needs has scared the shit out of me! Old age isn’t for pussies that’s for sure.