Retirement age Spain

Information and questions about the Law in Spain and Andalucia.
elusive
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Re: Retirement age Spain

Postby elusive » Fri Jul 10, 2020 8:45 am

The "working class" youngsters of today dont have the same mentality, with all the b*llsh*t degrees on offer that never amount to anything.
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Very true. The problem been the obsession with everyone going to uni to the point of an A level pass only requiring 20% and those who dont go been looked down apon.On the surface it looks good all these ppl woth degrees but inreality they are of no use and you are left with a country that has a lack of skilled manual workers such as plumbers,sparkies etc

Those who are lucky enough to get handed lump sum inheritances invest in property as their pension. Who can trust pension schemes after whats gone on over the years.And after all the charges what will you come out with?. Those on low wages will just suffer on the state pension and whatever benefits they can get to top it up with.that if they live long enough to get it and if it even excists in decades to come

Pamela1
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Re: Retirement age Spain

Postby Pamela1 » Fri Jul 10, 2020 10:30 am

Agree apprentiships are a good alternative to uni but even they are not what they were..Most used to be at least 4/5 years to complete, now they are fast tracked and suddenly you are a builder/plumber/hairdresser but with little experience and not enough knowledge...Its no wonder the Uk is filled with cowboy trades people..Time to get back to basics and teach people properly so that the quality of work is there again and above all do right by those who are just left half trained..
Nowadays more and more people will be lucky to even get the oportunity to build up a pension for retirement, many people will spend half their lifetime unemployed..I'd agree that putting money into property is one way to go if you have got the means to doing so, at least there is the flexibility of getting at your money if needs be...
People often say that in the long run you are better off stashing your cash under the floorboards so to speak and in this day and age i now beleive there is alot of truth in that.

katy
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Re: Retirement age Spain

Postby katy » Fri Jul 10, 2020 11:17 am

Agree Pamela. Once had a tiler who had done a short uk course, he was rubbish. OH could have done it better and he isn’t handy. He had to knock some tiling off around the plug sockets and even he Improved the work.

How are Spanish apprenticeships?

Manchesteral
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Re: Retirement age Spain

Postby Manchesteral » Fri Jul 10, 2020 11:21 am

spanish_lad wrote: Thu Jul 09, 2020 5:46 pm Due to my "part time" contracts over the years I started a private pension with the bank some years ago, paying in x amount every month.

if we dont get much from the government when I retire, at least i´ll have something :(

My old man had it right.. he was born in the 50´s, left school at 16, did an apprenticeship as a plumber and started working at 18. he retired in his 60s, and had more than 45 years contributions, plus 4 private pensions... (!)

The pile of paperwork that we had to fill in was amazing, but it all got sorted in the end.

The "working class" youngsters of today dont have the same mentality, with all the b*llsh*t degrees on offer that never amount to anything.

Christ im not 40 yet, i sound like an old man :lol:
That's the only way to go spanish lad, I have no degrees or special education, I worked hard all my life often taking financial risks and often working 12 hours a day sometimes 7 days a week, I always saved 25% of my net income and put some in a bank and some in other small investments.
At this point in my life I can say with confidence that I will never be hungry or have to worry about bills and can basically pay for anything I desire (within reason) and you're absolutely right many youngsters today can't see past their next trip to Magaluf and will be looking back in anger in 30-40 years time !

elusive
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Location: East of Malaga

Re: Retirement age Spain

Postby elusive » Fri Jul 10, 2020 1:48 pm

The problem being that many younger and older ppl cant afford to save anything from their wage. Many work long hours and two jobs yet still have vertually nothing left at the end of month after all the bills have been paid. They cant think about putting money into private pensions etc when they are more worried about having enough money to pay the gas bill and putting food on the table. Things are only gonna get worse because of covid.

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spanish_lad
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Location: Alhaurin el Grande since 99, cartama campo since 2022

Re: Retirement age Spain

Postby spanish_lad » Fri Jul 10, 2020 6:33 pm

thats part of the problem, not thinking ahead. €20 a month into a jar with the lid glued on is all it takes. Something is better than nothing.
Alhaurin el Grande since 99, working at the airport since 2011.


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