Tuesday, 23 October 2012

Financial crisis hits UK retirement income

The question is how is the typical boomer going to extract equity from its house to a) buy a retirement one, b) live a few more decades (considering the meagre pension available from government or private plan) and c) help his children cough up a deposit for their first house?

Pretty easy if your house is a few million and you retired as a partner in the City. 

A bit of a challenge if you are the average Londoner making £30+ thousand per year.

So the article should actually start by saying "the vast majority of Britons of all ages are going to see their incomes decline in real terms over the next 20 years due to irresponsible policies of successive governments.  Britons educated at Primrose Hill, Eton, etc are having a laugh".


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