The Mogambo Guru vents his muscular spleen on
inflation-capping for pensions in Britain. Quite right. The old are spending the kids' inheritance royally. There's so much talk of the selfishness of the young, but the oldies really knock the lights out in that competition.
(Picture source)
4 comments:
My retirement is getting terribly close. I have now decided that what I need to do is insure against my occupational pension scheme going belly up, as it might do after a stock market collapse. I am going to read about "covered warrants". Wish me luck.
DM: Perhaps, if you want long-term control over your pension investment, you should ask your adviser about SIPPs and drawdown arrangements. Warrants are guarantees, which are as good as the guarantor... see LSE site here:
http://www.londonstockexchange.com/en-gb/pricesnews/education/experiencedinvestors/investcw/
Thank goodness that that isn't advice. ;)
If there were death taxes funding (or just being) inter vivos gift inducements, and a let up on transaction costs for smallish properties it would help.
If we try to give some of what we're not using (or at least not needing right now) to our children Brown would try to help himself to part of it. And I already have to pay not to give to Brown. And alter my plans. Which has often turned out well but doesn't alter the resentment. And many don't have the room to manouevre.
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