I read a rather chilling report this week that the Bank of England is considering negative interest rates for savers.
We have no sophisticated arrangements for our pension savings; just a small lump sum currently in a National Savings Account. I do not qualify for a state pension for another couple of years.
It seems I may need to go back to work!
Sisyphus - what did you do to deserve such punishment? Oh I know, worked hard, saved some money, thought you might be permitted to enjoy your retirement, nothing too grand, bills paid, food on the table, the occasional trip to a cafe...
ReplyDeleteI know, I know. What WAS I thinking???
DeleteThat is truly awful when you have done all they tell you to do and made plans and then THEY ruin everything because THEY cannot run things properly. I despair. I hope it doesn't come to you going back out to work.
ReplyDeleteBriony
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It may be just about manageable if it is only short term, but if we have to start paying the banks to keep our savings longer term we may start to run out!
DeleteNever heard of negative interest but mine is currently 0.25% so it may be heading that way.
ReplyDeleteI am not aware of that ever happening here before. We have been earning around 1% but that has now dropped to 0.01% so virtually nothing now.
DeleteIf you do go back to work, I would not advise dragging big rocks up slopes with a rope. Such an activity could be injurious to your health. Try small rocks instead.
ReplyDeleteUseful advice, thank you YP.
DeleteCould you work from home JayCee? I keep hearing politicians telling people to work from if it's possible.
ReplyDeleteI am not sure if my failing brain cells would be up to the job!
DeleteI keep looking for one of these work from home jobs but they don't seem to exist.
DeleteWe could all end up like Ken Dodd with it stuffed in suitcases under the bed. I'd only need a pencil case.
ReplyDeleteSurely a plimsoll bag for all those large old white fivers?
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