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The great return to work..?


Libspero

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Just thinking out loud..   but it struck me that the great resignation has been driven by people enjoying time off over lockdown and deciding they don’t want to go back.   They own their house out right,  and are close enough to retirement that they have done the sums and they have enough to live on.

But what happens after a couple years of high inflation?   The tech stocks and bonds their pension funds own start dropping in value,  and the money they thought would be enough to live on doesn’t seem as plentiful when the cost of living doubles in the first few years of their retirement.

I wonder how many will be forced reconsider their plans?

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Frank Hovis

If you own your house outright and have no debts then you can live very cheaply indeed.

If the choice is between cutting down to just one foreign holiday a year or going back to work and going on two or three then people will be cutting down IMHO.

It's not that work is terrible but rather that the shifting of mental gears that you have had to undergo to start retirement means that it's hard to throw them into reverse.

 

And I can confirm that as a three time retiree; though ths time instead of taking on a "proper" job again I have gone for a temp with a defined end date so in my mind I remain retired this time.

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Bobthebuilder
12 minutes ago, Frank Hovis said:

It's not that work is terrible but rather that the shifting of mental gears that you have had to undergo to start retirement means that it's hard to throw them into reverse.

That's the best way I have ever heard it put. Sums up me at the moment.

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48 minutes ago, Bobthebuilder said:

That's the best way I have ever heard it put. Sums up me at the moment.

Hearing that concrete is getting hard to get, even by tier 1 firms PC. Moving forward I would say there will be a lot sampling what retirement is very soon. Sad. ( Tarmac Concrete supplier and they are big). Not sure if it’s true, but a German plant, making the additive that makes it work, apparently had some problem with a fire. It’s only what I’ve been told. ( my BS detector flashed in my garage).

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Bobthebuilder
1 minute ago, Phil said:

Hearing that concrete is getting hard to get, even by tier 1 firms PC. Moving forward I would say there will be a lot sampling what retirement is very soon. Sad. ( Tarmac Concrete supplier and they are big). Not sure if it’s true, but a German plant, making the additive that makes it work, apparently had some problem with a fire. It’s only what I’ve been told. ( my BS detector flashed in my garage).

Try and buy a Valiant boiler at the moment, nothing in stock, best estimate 12 weeks.

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I know / know of a few folk who have done exactly as above - furlough - take early retirerment or become financially inactive (a hmrc term for not working / not claiming bennies). And another who has gone to reduced hours to cut his tax bill and spend more time with the family.

Also one who was on long term disabiity, got taken off that and moved to regular "unemployed & claiming bennies", 2 weeks of intros & jobfinding courses, then they quit the bennies train and decided to live with zero income until the could claim their pension in abiut a years time !

In all cases I'm sure they would have continued as before, until they realised they had other options available...

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7 minutes ago, Bobthebuilder said:

Try and buy a Valiant boiler at the moment, nothing in stock, best estimate 12 weeks.

Heard copper 4” up 54% in one day last Wednesday. 

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19 minutes ago, Bobthebuilder said:

Try and buy a Valiant boiler at the moment, nothing in stock, best estimate 12 weeks.

Mate said same. No need for gas then. Big new build I'm involved with is getting the " valued engineering"

( cuts to what they thought they could afford 5 yrs ago) treatment.

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3 hours ago, Frank Hovis said:

If the choice is between cutting down to just one foreign holiday a year or going back to work and going on two or three then people will be cutting down IMHO.

True..  but I wonder how many people really retire that rich?

I imagine people retiring now are increasingly of the “my house is my pension” generation.

As someone in their early 40s very few of my peers pay into a pension over and above anything their company offer by default. I’m not sure how that changes ten years my senior,  perhaps they just caught the tail end of final salary pensions.

Perhaps most will not be forced back to work,  but I reckon many may not find it as comfortable as they first imagined. Not least that new kitchen/bathroom/extension/car they were going to treat themselves to..   how much will that cost now :ph34r:

Edited by Libspero
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On 13/02/2022 at 21:52, mcdongle said:

World is great when technocrats have total control.

Been to NZ a few times, beautiful country and the nicest people in the English speaking world .... but she's put me right off ever going again!

Must be something seriously wrong with those people who i thought were tickityboo to vote for her.

Edited by Hancock
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CannonFodder
On 13/02/2022 at 18:47, Phil said:

Hearing that concrete is getting hard to get, even by tier 1 firms PC. Moving forward I would say there will be a lot sampling what retirement is very soon. Sad. ( Tarmac Concrete supplier and they are big). Not sure if it’s true, but a German plant, making the additive that makes it work, apparently had some problem with a fire. It’s only what I’ve been told. ( my BS detector flashed in my garage).

There are admixtures but a bit part is fly ash from bad power stations to make the cement.

Some of this is imported to the uk, not sure if brexit will cause issues.

IF we went all green; less concrete in peak construction times or any time at all if 100% green

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  • 2 weeks later...

Will anyone be able to afford to go back to work.

The money I pay in fuel just about covers me to run around for family, my own needs. I don't have enough left to waste it on commuting.

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With a crooked smile
5 hours ago, 23rdian said:

Will anyone be able to afford to go back to work.

The money I pay in fuel just about covers me to run around for family, my own needs. I don't have enough left to waste it on commuting.

I speak to the  decision makers in local gov, NHS trusts, Unis and not for profits on a daily business. With the exception of where NHS jobs mandate being on site these guys are only paying lip service to hybrid working. They don't even talk about coming in to collaborate and train younger members of staff. 

The staff want to work from home permanently and the decision makers probably want to release capital and save maintenance fees from excess property. 

Mid market and Enterprise customers in the private sector are believe are more pushing the hybrid model longer term but I work in public sector software sales (unified comms), so can just report what I hear direct. 

 

We're not pushing anyone back to the office on a permanent basis going forward (words direct from our COO). 

At the moment with inflation often outstripping wages people will just leave if required to go back and businesses know this. 

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