Why are young’ish people leaving the job market?

[GarethM]

The reality must be 40k+ a year manual jobs since they were 25, your not going to retire early if your on 25k.

[eggsarascal]

2 minutes ago, GarethM said:

The reality must be 40k+ a year manual jobs since they were 25, your not going to retire early if your on 25k.

Going back to your, with a trade, how many good tradesmen are on £25k?

[GarethM]

Was that a question or a statement.

[eggsarascal]

What do you reckon.

[GarethM]

Seeing we were discussing non arb types retiring early my comments were pretty accurate.

 

You chucked in the grenade of you've paid in so I can retire early, but gave zero reference to how much you're paid which equates to how much you've paid in 

 

If you asking am I paid 25, nope.

[GarethM]

Let's do fag packet maths,

18-55 = 37 years working

For the sake of argument you've bought your home and a new car before retirement.

 

You'll want say 1500 a month until you die at say 85.

 

55-85 = 30 years

1500x12 = 18k

18k x 30 = 540k required.

 

[pleasant]

You need to take into consideration the state pension- which with the proposed increase in the new year will be £10,400.00 (ish) for the full amount P.A.

 

So £10,400 x 18 years =£187k (67-85)

 

540k-187k = £353k

 

That obviously also doesn't take into account any inheritances you may receive along the line, any other investments, or indeed the option to downsize later on in life

 

 

Edited November 18, 2022 by pleasant

[eggsarascal]

19 minutes ago, GarethM said:

Seeing we were discussing non arb types retiring early my comments were pretty accurate.

 

You chucked in the grenade of you've paid in so I can retire early, but gave zero reference to how much you're paid which equates to how much you've paid in 

 

If you asking am I paid 25, nope.

No one mentioned arbs, and you won’t swing the argument your way by mentioning it. You mentioned tradesmen, £25k isn’t near for a self employed tradesman. I paid in the maximum I could which was matched by the company I worked for, I’ve also paid into a private pension, and let me assure you I don’t need £1500/month. And this is why, imo people are leaving the job market. You of course could be different.

[Mick Dempsey]

1: Because they want to.

 

2: Because they can.

[eggsarascal]

1 minute ago, Mick Dempsey said:

1: Because they want to.

 

2: Because they can.

It’s a fair answer, who’s going to fill the jobs ‘we’ leave? I don’t see youngster rushing down drains.