Something is finally going right for us all!

  ky72 08:48 26 Jan 10
Locked

Alas! the goverment has started to help us all! its only took billions of people to loose there homes for them to realise this!!!

click here

  GANDALF <|:-)> 09:27 26 Jan 10

If this lame situation ever reaches the light of day it will cost money...from the taxpayer. So yet once more I'll be paying for those who spent above their means and did not have the wit to manage their finances. Next thing the Government will be giving taxpayer's money to people who can already pay cash for new cars.

G

  Mr Mistoffelees 09:57 26 Jan 10

" So yet once more I'll be paying for those who spent above their means and did not have the wit to manage their finances."

Whilst I agree that there are many people who fit that statement, what about those people who did borrow within their means but then become ill for a long period or get made redundant?

  morddwyd 11:35 26 Jan 10

"what about those people who did borrow within their means but then become ill for a long period or get made redundant?"

You mean those people who did not have the foresight to take out mortgage or employment insurance?

Since I took out my mortgage my wife has had a stroke which stopped her working and I have had a heart attack which restricts my activities somewhat.

In addition my endowment provider has advised me, no less than three separate times, that my endowment will not meet my mortgage and I must increase my payments.

On each occasion we re-planned, knuckled down, made sacrifices and got on with it.

And now you want me to pay more tax to help those who think the world owes them a living?

Thanks a lot.

  GANDALF <|:-)> 11:49 26 Jan 10

two words...self+responsibility.

G

  Forum Editor 16:40 26 Jan 10

is to run through a few 'what if?' scenarios in your head.

What if I'm ill, and can't work?

What if I'm made redundant?

What if I get the sack?

Then you set about organising the means to plug those gaps if they occur, by arranging suitable insurance cover.

What you shouldn't do is say 'I'm inept, but no worries, if I get myself in trouble someone will come along and bail me out, and if they don't the government will step in and protect me from my inability to manage my life'.

I'm sick and tired of hearing about yet another raft of nanny state legislation designed to support lazy, careless people who can't be bothered to plan their own lives properly.

  Snec 17:01 26 Jan 10

I don't borrow. Haven't done since I had a mortgage once and worked out what had to be repaid... in real terms.

Got rid of that mortgage damned quick and since the age of twentfive have not owed anyone a bean. In fairness though, people like me could make a lot of money really quickly in the 70s. Question of luck, time and place etc.

But, I can't entirely agree with your post when it comes to planning your life. No one, not you, not me, no one plans for illness. Indeed any plans any of us have made are based on being healthy for years to come. If that wasn't the case, how could anybody plan anything, from your daughter's wedding to which shares look good today?

Whoever you are, you may need help sometime. No one gets off this planet alive.

  Forum Editor 17:19 26 Jan 10

no one plans for illness."

What on earth are you talking about? I think it's my turn to say "Whoa, hang on a bit."

I'm sure you've managed your life admirably, but you obviously missed out on a basic understanding of risk assessment if you think nobody plans for illness. Millions of people plan for it - a whole section of the insurance industry specialises in catering for those of us who plan for it. I hope it doesn't happen, but a little common-sense tells me the odds against it decrease as the years go by. I might indeed need help sometime, as might you, but I've done what I can to make sure that I've minimised the chances.

Saying that "any plans any of us have made are based on being healthy for years to come." is indicative of a rather unenlightened attitude, to put it mildly.

  The Mountaineer 17:31 26 Jan 10

When my wife to be and I got married, as students, 39 years ago, someone said to us "if you don't start saving/planning NOW for retirement, sickness, loss of job etc you could end up in big trouble". You know what, like a couple of starry eyed kids we actually believed them! So, bank accounts, building society accounts, endowments we slowly started. Then we risked a unit trust. Then peps and tessas came along, always putting spare bits of dosh away. Likewise isa's, pensions .... you name it, we gave it a go! We didn't have lots of dosh, only the surplus after food, mortgage, kids etc.
Slowly, middle age (and a bit more) crept up on us until we found that at the ripe old age of 55 apiece we could retire, thanks to the power of compound interest! Not filthy rich, just enough to stop working with enough income to have a decent life and have 2-3 hols a year.
Now we find that our "fixed" income has dropped by around 30% or so, not because we didn't plan, not because we took risks, not because we get into debt .... but because somebody else didn't plan, took risks, got into debt.
So, all those people who haven't saved, borrowed too much, didn't take out insurance to cover risks, what words don't you understand in these sentences: "If you don't save you won't have a pension/retirement income. If you don't take out insurance you run the risk of ..... If you borrow too much you will certainly end up severely in debt."

  Snec 19:40 26 Jan 10

No, the plans you made, at anytime, were made on the premise you would be here, in good health, the following day. Weren't they? Mine were!

  Snec 20:02 26 Jan 10

.. I hope it doesn't happen, but a little common-sense tells me the odds against it decrease as the years go by. <<

But I was talking about the times before 'years go by'. Actually that was my point.. but if you are saying that some people never learn then I agree. Later on in life then it must pay to take health into consideration. Young people in good health don't. Did you? I didn't.

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