Old age
Today I recevied details of my projected state pension, assuming I continue to contribute at the same rate for the next 21+ years. In other words, it's a wild guess, and a totally pointless piece of correspondence.
Clearly the Treasury are hoping that we will all save for our old age, and be less reliant on the State for a living income, but the policies are not joined up - surprise, surprise.
The Child Trust Fund is a worthless joke, that is only worthwhile for the really wealthy as a way of making pension provision for babies in a tax-efficient way.
Students leave College or University drowning in debt, and then have to fund enormous mortgages on the back of a property boom.
I'm comparatively lucky, having enjoyed a fully funded University degree, but I struggled to pay a mortgage and a sensible amount into my pension for a few years. How today's students can expect to put anything aside is beyond me.
Just to make me feel older and ready for my pension, today is a child's birthday and there will be ten little children running around the house in under an hour!
Clearly the Treasury are hoping that we will all save for our old age, and be less reliant on the State for a living income, but the policies are not joined up - surprise, surprise.
The Child Trust Fund is a worthless joke, that is only worthwhile for the really wealthy as a way of making pension provision for babies in a tax-efficient way.
Students leave College or University drowning in debt, and then have to fund enormous mortgages on the back of a property boom.
I'm comparatively lucky, having enjoyed a fully funded University degree, but I struggled to pay a mortgage and a sensible amount into my pension for a few years. How today's students can expect to put anything aside is beyond me.
Just to make me feel older and ready for my pension, today is a child's birthday and there will be ten little children running around the house in under an hour!
1 comment:
Why do you think the Child Trust Fund only help the wealthy? I would have thought it would make more of a difference to the less well off. I'm from the UK and the system here works well I think. I'm pretty sure the system in the US works the same way.
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