Pensions

[LeeGray]

https://www.oxfordeconomics.com/recent-releases/8747673d-3b26-439b-9693-0e250df6dbba my new standard response to immigration talk!

[Toad]

53 minutes ago, trigger_andy said:

Not really. They can earn the bare minimum to extract the maximum benefits and send them all home to whatever country they originated from. Child Benefit here pays more than a wage in some of these countries. Stop being so naive. 

Sorry it's definitely entirely my naivety, not your prejudice.

 

There's definitely no studies out there showing anything that would contradict this.

 

Have a look at fullfact.org sometime. Well worth your time.

[trigger_andy]

Just now, Toad said:

Sorry it's definitely entirely my naivety, not your prejudice.

 

There's definitely no studies out there showing anything that would contradict this.

 

Have a look at fullfact.org sometime. Well worth your time.

I dont need a website to tell me what I find through empirical evidence. Maybe you do though and thats not surprising really....

[difflock]

Oddly, or not, I do not denigrate hard working migrants sending money home to their families, after all many British breadwinners have worked abroad and sent their earning home, down through the years,

however just how much some of, what percentage of, these young male migrants contribute to the British economy, if or since they are living in little more than Doss houses and spending as little as possible in the local economy, in order to maximize their exported earnings, is questionable, especially if they are working in the black economy, like our car wash Romanians.

And an unfortunate percentage of these Romanians are of very doubtful morality, known to be  running brothels and other criminal enterprises in parts of Belfast, and taking jobs from them now unemployed local paramilitaries in the process!

That said a local family owned steel fabricator took on some Russian welders after the collapse of the Soviet Union, they, or more likely their sons or nephews are still working there, with a very high work ethic, and being provided with decent housing, some also invited the boss out to family weddings in Russia. So they are highly respected workers in the local community.

I understand the young males work long enough and hard enough to provide for a family back home, and perhaps set themselves up with a house and business.

Again such has been working life from time immemorial. 

Anyway What I was trying to say was I rather believe such local empirical evidence rather than conjured up statistics from some possibly/probably biased organisation with an axe to grind.

marcus

Edited January 10, 2019 by difflock

[Toad]

16 minutes ago, difflock said:

 

Anyway What I was trying to say was I rather believe such local empirical evidence rather than conjured up statistics from some possibly/probably biased organisation with an axe to grind.

marcus

That's why I quoted fullfact.org. There's no political affiliation, they just research claims and information given to see if there is any proof or justification. Well worth a look when there are elections etc.

[spudulike]

13 hours ago, Jwoodgardenmaintenance said:

I'm 21 now and looking at getting into property development next year but I have been told by a few folk that renti g them out is more hassle than it's worth but reading this thread is making me wander now ? what age do you lot reckon is a good age to start paying into the pension? 

21

[Commando]

I'm 21 now and looking at getting into property development next year but I have been told by a few folk that renti g them out is more hassle than it's worth but reading this thread is making me wander now [emoji848] what age do you lot reckon is a good age to start paying into the pension? 

Start as early as u can and take any risks early too. Get on the property ladder ASAP and knuckle down.
A big house that you can downsize when u retire is a great pension addition in its self.
It makes me laugh when I hear/read so many younger folk giving every excuse why they can’t buy a house, yet I see young lads/lassies in agriculture busting a gut, working all hours and managing to do it.
Trust me it wasn’t easy when the interest rate was at 14% either!

[Jwoodgardenmaintenance]

18 minutes ago, Commando said:

Start as early as u can and take any risks early too. Get on the property ladder ASAP and knuckle down.
A big house that you can downsize when u retire is a great pension addition in its self.
It makes me laugh when I hear/read so many younger folk giving every excuse why they can’t buy a house, yet I see young lads/lassies in agriculture busting a gut, working all hours and managing to do it.
Trust me it wasn’t easy when the interest rate was at 14% either!

I dont like making excuses if i want something i wont stop until ive got it tbh i dont want a mortage im just saving up and looking for the shittest house where the neughbouring houses have sold recently for a good price and buy cheap and just keep buying and selling until i find the right house  

[Lucan]

20 hours ago, Jwoodgardenmaintenance said:

I'm 21 now and looking at getting into property development next year but I have been told by a few folk that renti g them out is more hassle than it's worth but reading this thread is making me wander now ? what age do you lot reckon is a good age to start paying into the pension? 

Firstly hats off to you for thinking about pensions at 21. I think a lot of people wish they had done that, myself included.

 

The answer is the earlier the better (ie now). A rule of thumb is if you start now you would only need a total contribution (so your contribution plus the external top up) equal to around 10% of your annual salary every year for a comfortable income for life once you retire.

 

The longer you postpone starting your pension, the higher the percentage you need to continually put in. I'm only about 10 years older than you and recently started, and I'm putting in 24% (although a bit more complex).

 

On average people your age will live to over 90, you might even experience 2100. Starting to invest for your retirement at 21 will probably be one of the wisest financial decisions you'll make.

[aspenarb]

I have never paid into a pension fund because by the time I stop working I will be so fucked no amount of money will help me.

 

Bob