Redundancy

[premmington]

I try to, my weakness is tools



I always dress for the occasion, I always wear a suit and tie for video conferencing.


Too many people I know are "living the dream" and heading into a train wreck. Living beyond their means more like it. Far too often the guiding principle is winning the lottery, winning the Bingo or making a claim. Wonder how many have tried living. It has worked for me so far.



Fat chance of that. Far too many imbeciles in the decision making process.

Northwest said... Too many people I know are "living the dream" and heading into a train wreck. Living beyond their means more like it.

I would agree with this - and it is not only people on low wages - there are alot of people with high paid jobs - that have over spent so much - they are only a month or two away from going skint at any one time.

Sadly the next few months may catch up with some of them...

This level of spending does thou fuel the economy.

 

[addjunkie]

They're raising it already



Remember W C Fields' words "Never work with children or animals"

Ill fix that

Never work with children, animals, or members of the public

Northwest said... Too many people I know are "living the dream" and heading into a train wreck. Living beyond their means more like it.

I would agree with this - and it is not only people on low wages - there are alot of people with high paid jobs - that have over spent so much - they are only a month or two away from going skint at any one time.

Sadly the next few months may catch up with some of them...

This level of spending does thou fuel the economy.

How right you are.

My neighbour at our last house was a retired bank manager type, he then volunteered for the CAB assisting folk with debt managment and similar things. We lived on a nice estate with all detatched houses when built in the late 70s it was marketed as an executive estate. So you can imagine what it was like.

Anyway one day we were chatting about what he did with CAB. One thing he said " you would be surprised at just how many of the houses round here have been sold and rented back to clear bad debt"

 

[premmington]

There are people in life that cannot control the use of - gambling - alcohol - drugs - food - dieting - sex - even exercise.

Don't be too suprised - when you learn some people can't manage money....

 

[northwest]

My neighbour at our last house was a retired bank manager type, he then volunteered for the CAB assisting folk with debt managment and similar things. We lived on a nice estate with all detatched houses when built in the late 70s it was marketed as an executive estate. So you can imagine what it was like.
Anyway one day we were chatting about what he did with CAB. One thing he said " you would be surprised at just how many of the houses round here have been sold and rented back to clear bad debt"

One of my sons is something to do with Social Welfare in Middlesbrough (I know exactly what he does) and for the last couple of months has been organising all sorts of things including food deliveries to the needy. A couple of the addresses have really surprised him (though he is not surprised by much, he has seen it all) as they are in "affluent" neighbourhoods. As my good lady says, You never know what goes on behind closed doors.

 

[premmington]

One of my sons is something to do with Social Welfare in Middlesbrough (I know exactly what he does) and for the last couple of months has been organising all sorts of things including food deliveries to the needy. A couple of the addresses have really surprised him (though he is not surprised by much, he has seen it all) as they are in "affluent" neighbourhoods. As my good lady says, You never know what goes on behind closed doors.

"All that glitters is not gold".

 

[Pigeon_Droppings2]

There are people in life that cannot control the use of - gambling - alcohol - drugs - food - dieting - sex - even exercise.

Phew...for a moment I thought cars and tools was going to be on that list!

Its easy to spend big when you earn big....I have to confess that was me 10 years ago...mainly holidays to nice places. These days I still earn descent money but I don't spend it all....it's nice not to worry about where the next job is coming from for a few years if I get blind sided by something.

Working for yourself is definitely more secure in the long run if you can get it right.

 

[dobbslc]

Some very wise words in this thread! I'd love to retire but I'm too young (49)!
I've had enough of my company that I've worked for for 19 years, they have become greedy and bullying over the last few years and the Corona virus is just the excuse they needed to really take the ****! I had to tell one of the younger lads to stop work the other day and go and eat, it was 5 o'clock in the afternoon and he hadn't eaten as he was too busy, he's diabetic!
We've been worked hard throughout the lockdown with no let up and all sites are now open but with only 2/3 of the men back at work, you can see what they're doing)
I've been approached by another company in the same business with a job offer with more money and MUCH less responsibility, it's hard to make a decision at this time though, "last in first out" if we get a second wave!

 

[slim_boy_fat]

was a retired bank manager type

Ditto here, but I retired from it [for retired read 'chucked it'] at 41 - I could see the way things were going & didn't want to go there.

Folks' inability to save all of any 'extra' cash they get e.g. through a pay increase is called the "propensity to consume" - Google it rather than me launch into a detailed report.

 

[mechman]

Just been told this, youngish fella I used to work with has been told they're making several of his workmates redundant due to the present situation (covid 19) they are on furlough so how can that be if gov.com are paying, the salt in the wound is the owner of the company is trying to base the redundancy payments on their furlough wage rate. WTF. The owner ( I've worked for him before but not for long) is known to be riddled with greed.

 

[dyno-tron]

The best advice for any younger ones on here is MAKE SURE YOU ARE PUTTING SOME OF YOUR EARNINGS INTO A PENSION!

When you are pushing 50 it's too late to build up a decent pot. Work friend of mine for the last 25 years opted out of all the pension stuff "can't afford it, 'er indoors wants a carpet etc etc". Now he is late 40's and has no chance of finishing work until state pension at 67, but that still won't be enough cos 'er indoors doesn't work. Not a very bright future ahead for them

If there is a company scheme, use it! If that scheme matches your payments, pay as much as you can into it - they are giving you free , my last company double matched, so £1 of mine was £3 into the pot .

 

[Robbie260]

Ditto here, but I retired from it [for retired read 'chucked it'] at 41 - I could see the way things were going & didn't want to go there.

Folks' inability to save all of any 'extra' cash they get e.g. through a pay increase is called the "propensity to consume" - Google it rather than me launch into a detailed report.

Yeah i cannot say im not guilty of that started too make some progress on savings though finally. Fortunately company pension means im well ahead in that sense.

I dont like having debt so have generally used savings too clear any sharpish, student loan was all gone with in a year and a half.

 

[Pigeon_Droppings2]

When you are pushing 50 it's too late to build up a decent pot.

Pension is definitely a good idea....I really started "seriously" at age 45 I'd say. It's never too late to use a pension as a vehicle for saving some taxes (legally)....but agree as you get older it gets more difficult because they cap/limit the tax free contributions you can make....so if you leave it too late thinking you can dump loads in there it doesn't necessarily work out that well....vs slow and steady.

 

[dyno-tron]

Pension is definitely a good idea....I really started "seriously" at age 45 I'd say. It's never too late to use a pension as a vehicle for saving some taxes (legally)....but agree as you get older it gets more difficult because they cap/limit the tax free contributions you can make....so if you leave it too late thinking you can dump loads in there it doesn't necessarily work out that well....vs slow and steady.

Agreed, it's never too late but as you say, with all the capping it gets harder to built it up the later to start.

 

[dyno-tron]

Retyped due to dyslexic autocorrect!

Agreed, it's never too late but as you say, with all the capping it gets harder to build it up the later you start.

 

[pedrobedro]

There is a saying "richest man in the graveyard"...

There's another I like as well

 

[Pigeon_Droppings2]

I think I'd rather cry on a bus myself

 

[badabec]

When I worked, going on holiday was quite a big thing. Since my wife and I both retired six years ago, holidays have almost no importance. We don't have to escape from work any more. Neither of us miss any aspect of work at all. My blood pressure dropped significantly and my resting heart rate slowed from 90 to 60 within weeks of stopping.
One problem: when working, weekends were always busy. Now retired, it is a permanent weekend!

 

[Seadog]

Now retired, it is a permanent weekend!

Therefore permanently busy?

 

[Matchless]

I think I'd rather cry on a bus myself

buy a Merc and you will cry sooner or later...……….

 

[Matchless]

Pension is definitely a good idea....I really started "seriously" at age 45 I'd say. It's never too late to use a pension as a vehicle for saving some taxes (legally)....but agree as you get older it gets more difficult because they cap/limit the tax free contributions you can make....so if you leave it too late thinking you can dump loads in there it doesn't necessarily work out that well....vs slow and steady.

I started a couple of pension plans in my 20's but never increased payments after my 30's kept paying in, thought they would be sh1t but turned out to be not too bad, did a drawdown, don't expect to live long enough to make an annuity work, also got a lump left from selling the freehold business premises everyone said I was stupid to buy 25 years ago, did not reinvest the money from the sale of the premises, again everyone said I was stupid, maybe not, how much have pension pots and shares dropped recently? made a lot of mistakes over the years and whilst I was a very good mechanic and always treated my customers well, I was not the worlds best businessman, must have done something right though, old customers still ring me for a chat.....