Quote:
Originally Posted by Chris
Er no, that was exactly my point. You are older than me. You will retire before me. My taxes and possibly those of my kids will fund your retirement. And I see no reason why my taxes should fund a 15-year retirement for you, when my parents' taxes funded only an 8-10 year retirement for those that went before them - especially as it was you baby boomers that urinated so much of this country's natural wealth up the wall.
Congratulations on having 4 pension funds though, it's nice that you have lived through an age when there was enough spare cash about for that sort of thing.
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Erm, one size does not fit all.
I did without to contribute to my company pensions (often adding additional payments), and overpaid my mortgage when possible - how did I do that? By not going on overseas holidays until my kids were teenagers, only having one car, and not eating out much. We spent our disposable income on opportunities for our kids (things like riding lessons, music lessons, PGL, school trips, etc).
My personal opinion is that the "
baby boomer wasting their money" is a bit of a
myth - after all, I don't remember the previous generation leaving a lot to us, yet we are leaving what we have accumulated to our children (anything we haven't spent on them already......)