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‘My state pension was £880 – and my rent was £1,000’: how a 70-year-old man became homeless in Britain (www.theguardian.com)

submitted 5 months ago by [email protected] to c/[email protected]

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Tony Sinclair had worked all his life – but still found himself sleeping rough. Then even his tent was taken away from him.

In a way, 70-year-old Tony Sinclair was lucky to be in his tent on the day last year when the police arrived. The canvas that kept him from the elements ended up in the bin, but, unlike several of his neighbours, he was able to save his most important possessions from going the same way.

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[+] [email protected] -12 points 5 months ago (2 children)

All of this is coming to the whole of Europe, with an ageing population and not reformed pension systems, you better start investing now and hope the stock market doesn't go the drain.

[–] [email protected] 41 points 5 months ago

Ah, yes, I had forgotten I should have invested when my rent was 100€ higher than my income.

Like, I mean, it is good advice for some people at the individual level. Specifically, those who can afford it. But an issue of this magnitude requires political, collective solutions.

[–] [email protected] 25 points 5 months ago (1 children)

Cute of you to assume bottom half has disposable income

[–] [email protected] -1 points 5 months ago (1 children)

They're talking about boomers. That's where the money got stuck

[–] [email protected] 9 points 5 months ago (1 children)

About 20-30% of boomer got retirement money.

However, most of the money is locked up by top 1-3% which is mostly boomer and up.

Either way, they shouldn't buy buy stocks at this point when US treasuries printing 5+%

[–] [email protected] 1 points 5 months ago (1 children)

Here's a really good analysis of how it's not true the Boomers have all the money - there are lots of very comfortable Millennials too. It's more complicated than people like to think

[–] [email protected] 2 points 5 months ago

Did you read what I wrote?

Anywya, I do my own analysis based on data released by the federal reserve along with bls reports for income distributions. Not some shiti twatter shit post.

there are lots of very comfortable Millennials

Nobody said there werent affluent millenials, who mostly who come from rich families lol

Also "lots" modifier has no meaning without data.