The Mega-Dilemma of this Third Age : Save or Spend

The Mega-Dilemma of this Third Age : Save or Spend

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In the Summer of 2017, the Office for National Statistics in the UK produced fresh and compelling data on the finances of retired households. In brief: From the late 1970s, just as Mrs. Thatcher was about to ride into Downing Street to the opening of the tenure of Mrs. May in 2016, the disposable income of those retired households grew at an annual average real-terms rate of 2.8%. The mean gross income of this segment (including benefits) had thus swollen by a factor of 3 across this generation of time. Whereas just less than 50% of retired households enjoyed the benefit of a private pension in 1997 this had risen to 80% by 2016. Average disposable income for those with one of those private pension plans is now (2017) ca…
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News of the New 70s, Lifestyle and Spend

News of the New 70s, Lifestyle and Spend

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Old Facts, Fresh Insights The business community probably knows quite a lot of facts about this 60-70-80 generation. The broad sweep of our demographics is a visual stalwart of every futurist’s presentation deck. Populist redtops, meanwhile, carry a headline every day about dementia, the victims, the cures, the lifestyle counsels. This month, many a Marketing or Communications Director will attend a scholarly seminar on our national/Western ageing, its consequences for the public purse, for the financing of care, for all those ejected too soon from the career market (with lots left still to give), etc, etc. Such quasi-academic conversations might well drift towards the future of intergenerational frictions and conflicts - over access to skills, revenues, concessions and, of course, political power. The grey hubbub is always in the air, broad outline…
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