A Nightmare ( or a Glimpse into the future of a possible reality)

I don't think it is an example of being on a pitty pot at all . It is a rational concern about a reality that is possible. I would not go as far to think that the UK will go "bankrupt" at a moments notice, but it realistic to expect that at some point in time pensions might be affected by financial realities of a country. I know that in Canada, the simple reality is that government pensions will have to be adjusted in some ways over the next decade or two or there just will not be enough to go around. Whether that change comes in the form of reduced benefits or a raising of the age of elegibiity is beyond me.

Myself, I will never get a pension that will be worth anything so I have to make money now and be smart in planning my own financial future.

One comment I do have to make though is that there is always ways to earn money. It does not matter whether we are 37 or 67. It may take some really imaginative thinking "out of the box", but the only one who stops us from doing that is ourselves. If we look at the negatives and say it can''t be done, it won't be done. We may not "want" to do it , usually because we have grown accustomed to having it pretty good and not "needing" to, but the cure for that thinking is just what you have experienced. A little fear.

 

"On September 29, 1999, Armstrong was indicted by a federal grand jury for having conspired with employees of Republic New York involving Japanese investors. Republic New York pleaded guilty to fraud in federal court on December 17, 2001 and agreed upon a restitution order on January 9, 2002 of $606 million. Armstrong represented himself and was excluded from some proceedings, leading the Associated Press to question whether Armstrong could get a fair trial. The government charged Armstrong with civil contempt and he remained in prison over 7 years for failure to surrender various assets that may have been purchased with money from the investment fund at the center of the litigation. According to the New York Times, "Over the years, Judge Owen would revisit the contempt order every 18 months, guided by the federal statute. He repeatedly said that Mr. Armstrong was motivated by greed and was awaiting his release from jail to retrieve the $15 million that the government said was missing. According to lawyers who worked on the case in the early days, the financier’s headstrong manner irritated Judge Owen almost immediately. "On August 17, 2006, he pleaded guilty to one count of conspiracy to commit securities fraud, commodities fraud and wire fraud. He was sentenced on April 10, 2007, to five years in prison. Armstrong's daughter, Victoria, paid her father visits in prison most Wednesdays. He was released from prison on September 2, 2011."

Probably not the best guy to be getting financial advice from.