Next financial crisis 'has begun and will be worse than 2008 crash



My mistake mate that was the film I meant.. watched a few while I've been off work... lost track..

Not spotlight :oops:



Mine is a company pension mate and although I've no understanding on how it works in the last 10 years it's halved.. both lumper and annually.

And I have to work 5 year longer for the privilege.. mind it seems a lot of big pension schemes have taken a similar hit..

I’m guessing you are in a defined benefit scheme? If so, then yeah - they have been hit recently. They are still the best schemes to be in though.
 
Was a film recommended on here a couple of weeks ago about the lads that spotted and gambled on the 2008 crash . Spotlight it was called.. at the end credits it said that lessons hadn't been learnt and the same thing could be expected to happen.

No idea whether it is or not but having watched that I wouldn't be surprised if greed had once again taken over and the global economy crashes again..

Hopefully not!!
Was it not called the big short?
 
I’m guessing you are in a defined benefit scheme? If so, then yeah - they have been hit recently. They are still the best schemes to be in though.

Really not sure mate.. I just know that at 60 I'd of got £40,000 plus and £13,000 a year. Now at 65 I get £18,600 and around £6,000 a year. In 24 years time I can't imagine that being sufficient. That's why I think that generations of pensioners will need help financially . Costing the country millions..

Not an expert by any stretch, just what I think may happen...
 
Think we will all need it at some point mate.. however not everyone has the foresight or finances to plan for it...
Don't worry about it man. It won't affect you unless you're heavily into stock markets or banking. The average Joe (us) will see all this shite on the news and still go out looking for a cheap iphone or new 50" telly.
 
Don't worry about it man. It won't affect you unless you're heavily into stock markets or banking. The average Joe (us) will see all this shite on the news and still go out looking for a cheap iphone or new 50" telly.


Or the next time (THEY) gamble with our pension pots and we lose out again.. I know what you're saying but shit only slides so far and us at the bottom get covered..

It's long term I'm thinking marra, I truly believe we are paving the way for generations of very poor pensioners which will have a knock on effect for the young..

Example. Lad that trained me at my job left 14 yrs ago with a 6 figure sum, enhanced pension etc etc.. he was 57..., 14 yr down the line people are being offered ( At my place) 3 months wages and no pension enhancement.. it's only an example but in monetary terms if I decided to leave my employment tomorrow ( on a redundancy scheme)I'd be roughly £95,000 at least worse off than he ( I know what he got btw) with no enhanced pension.. that's in 14 years mate.. what will it be like in another 20 years.. There's a carriage clock and a mars bar?? Our kids are going to struggle in my opinion.

Although I appreciate what you're saying and understand it.. we can go and buy big TVs etc but long term it doesn't bode well for future generations is all I'm saying ..

I only have one kid and I hope she does well but I worry for her and her generation . I can see kids leaving uni with shit loads of debt, eventually get to the point they can start paying it back along with trying to get on the property ladder etc etc .. then come the time for pensions there's fuck all there.. the knock on effect could be devastating ..

I know I rambled a bit there but it's something that really pisses me off.
 
Or the next time (THEY) gamble with our pension pots and we lose out again.. I know what you're saying but shit only slides so far and us at the bottom get covered..

It's long term I'm thinking marra, I truly believe we are paving the way for generations of very poor pensioners which will have a knock on effect for the young..

Example. Lad that trained me at my job left 14 yrs ago with a 6 figure sum, enhanced pension etc etc.. he was 57..., 14 yr down the line people are being offered ( At my place) 3 months wages and no pension enhancement.. it's only an example but in monetary terms if I decided to leave my employment tomorrow ( on a redundancy scheme)I'd be roughly £95,000 at least worse off than he ( I know what he got btw) with no enhanced pension.. that's in 14 years mate.. what will it be like in another 20 years.. There's a carriage clock and a mars bar?? Our kids are going to struggle in my opinion.

Although I appreciate what you're saying and understand it.. we can go and buy big TVs etc but long term it doesn't bode well for future generations is all I'm saying ..

I only have one kid and I hope she does well but I worry for her and her generation . I can see kids leaving uni with shit loads of debt, eventually get to the point they can start paying it back along with trying to get on the property ladder etc etc .. then come the time for pensions there's fuck all there.. the knock on effect could be devastating ..

I know I rambled a bit there but it's something that really pisses me off.
Very good post mate.
 
Really not sure mate.. I just know that at 60 I'd of got £40,000 plus and £13,000 a year. Now at 65 I get £18,600 and around £6,000 a year. In 24 years time I can't imagine that being sufficient. That's why I think that generations of pensioners will need help financially . Costing the country millions..

Not an expert by any stretch, just what I think may happen...

But that £18k will rise with inflation.

At 65 you have no mortgage & kids to support. If you cant manage on £18k you need to have a good hard look at yourself.
 

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