Good News For Us Oldies...............

[LoftyLottie]

Apparently we are not the problem that many see us to be.

http://www.yourmoney.com/your-money/news/2231789/ageing-baby-boomers-have-nothing-to-worry-about-sociologist?utm_source=outbrain&utm_medium=content+discovery&utm_campaign=traffic+driver

I bet, however, that certain ABers wil find reasons to disagree!!

[ummmm]

All the old people I know made provisions for their old age.

I love old people. Especially the grumpy ones :-)

[emmie]

nice to know, not sure some see it that way.

[Kromovaracun]

I'm not sure his argument follows.

". As we've been getting older and older since the 1860s have we been getting poorer and poorer? Is it the case that somehow at the same time, because all these old people were dragging the economy back, we were getting poorer?"

This does not account for the fact that for a huge swathe of time 'since the 1860s', care for the elderly was not publicly funded.


"Britain is expected to move from four to two working people supporting every over-65 year-old.[...]
Ferudi said this move was not historically unprecedented, pointing to 1900 where 14 working people supported every elderly person."

I don't really understand the relevance of this point, so I may have misunderstood it. But it seems to me that the cost of one person's divided by 14 is considerably less costly to the latter than one person's care divided by 3 or 4.

I am NOT saying that care for the elderly is wrong, or anything in that league. But I do think it's naive to pretend that the population shift that my generation will have to deal with is not going to be incredibly costly. As usual, The Economist provides an excellent analysis:

http://www.economist.com/node/13888045

[jake-the-peg]

I'm pretty sure his argument doesn't follow

Firstly in previous years there was a large younger population what we're facing now is retired people making up a much largerproportion of the population than ever before

Secondly the health system now is spending more and more resources on expensive treatments a large proportion of which is targeted at the older population - in previous generations there was no nationally funded health service.

Personally I'd not frame it in terms of older people are the 'problem' the declining birth rate is at least as responsible

[Gromit]

It is an odd argument. It seems to say an increase in older people will not be a burden on the rest, then gives figures that support the counter argument that they will. It says in 1900 it took 14 people to support 1 pensioner and it now takes 4 people and soon that will be 2.

He also says history shows it is not a problem, but it doesn't because we are in unchartered waters. The baby boom after the war are now coming up for retirement now.

Last year the number of people coming to retirement age leapt 30% and for he first time in our history, there were more OAPs than the rest. In the next 5 years, another 3.3million will join them in retirement age.

It is difficult to argue that the increased welfare bill for all these extra retirees will not cost the unretired more in taxes.

[anotheoldgit]

/// Apparently we are not the problem that many see us to be. ///

Try convincing some ABers on here.

Things have somehow changed not for the better may I add.

Years ago Granddad and Grand Mother were all part of the family, not as they are not today, but I can never remember any going into care homes and not many cases of senile dementia.

Granddad and Grand Ma generally lived two or three houses down the street, and someone was always 'popping in' and out, and when they got too old to look after themselves they generally moved in with their off springs and were then looked after by them until the old folk died.

[Zeuhl]

/and not many cases of senile dementia/

that is an understandable perception

the number of people living well beyond '3 score years and 10' is increasing massively

The prevalence of Senile Dementia between the ages 75-79 is currently only 5.04% of men and 6.64% of women

When we look at the age group 85-89 it rises dramatically to 18.45% of men and 22.76% of women

For the age group 90-94 senile dementia affects 32.1% of men and 32.25 of women

(source: Alzheimers Research UK)

[LoftyLottie]

Actually I agreed it is a flawed argument that is presented in the article, but I just wanted to stir things up. Personally though, I am absolutely sick of people inferring that us baby boomers have had a cushy time of it. Our expectations were far less materially and we didn't every dream of falling back on the banks of Mum and Dad. Jobs were more plentiful in the 60's and 70's but we didn't expect large salaries or to have any surplus funds whilst we raised our families. Most of us scrimped and saved and lived on a shoestring probably through most of our lives. We didn't have the benefit of inheritances because very few people in our parents' generation owned their own houses.

So don't begrudge us our winter fuel allowance or bus passes - They form a very tiny, tiny part of the national economy.

I'm glad ummmm lives grumpy old people!! ;o)

[emmie]

it's amazing to me how many people seem to begrudge those things that the elderly get, winter fuel payments, don't give it to those ex pats, oh dear no, why ever not.

[LoftyLottie]

It should go to all British pensioners regardless of circumstances, in my opinion. It would cost far more in admin to means test. It's a mere drop in the ocean.

[LoftyLottie]

And as for being a burden................................ well there are a lot of folk that I consider to be a burden - young and old - but I have supported them by paying my dues all my working life!

[whiskeryron]

Hear hear Lottie

WR.

[LoftyLottie]

:o) WR

I'll be standing on my soap box next in Hyde Park!!

[silka]

Why are they called baby boomers ?

[LoftyLottie]

Silka, after the second world war there was a huge rise in the birth rate!! All the blokes came back from the war and also there was more confidence. 1946/47. I was one of them!!

[silka]

Thank you x