Old age

[scotman]

Hi

I am listening to Moneybox on radio. Just heard claim that one in six people in this country will live to 100 years old. That seems a very high fraction to me.
Anyone got thoughts about this and the consequences for state services.

[sandyRoe]

I'm in my mid 60's and already beginning to see the effects of decrepitude. I don't want to be getting that telegram from King Charles.

[starone]

I am in my eighties and definitely want to live to and beyond one hundred. Just don't want to give up this life and could never understand why anyone should.

[JonnyBoy12]

What effects are those, sandyroe? I know people who are older than that, and have no signs of this at all, and are still working into old age. The figures as I understand them are 1 in 200 people live to 100, and only 1 in 2 billion lives to 116!

What percentage of the population uses the Answerbank?

[ummmm]

I posted the other day.....My Grandad is 87 and he's still paying tax. They've got the money out of him over the years....tax tax tax

[society]

If he put the money under the mattress he wouldn't have to pay taxes on it. :-)

Taxes are only paid on the interest earned though, not his capital.

[Chaffinch]

My Mum, spent her 85th Birthday in Dubai, before going on to Oz to spend 6 weeks with my brother, can't ever see her slowing down, and can definatly see her reaching 100. My Nanna her mum died at 99, so nearly there!

[ummmm]

Stocks and shares.....

He still has to fill out a tax return every year....

Gutted...I didn't know that. He could be paying me to do it ;0)

[Chaffinch]

society, my mum still pays tax on her pensions, she has a Civil Service pension (which she worked from 14 to 60 for), her Old age pension and a War Widows pension (though my Dad did not die until 1984, he was a Japanese prisonor of war, hence this pension), so its not just the interest you pay tax on its income. Even though you've paid tax all your life! Lifes a bit of a bitch isnt it.

[Dris]

My Grandmother was 101 on 29th January.Still has her wits about her,diets (?) banana diet-done it for years,exercises (touches her toes a few times),and hasnt mellowed with age......her loss:(

[alavahalf]

You dont have to pay tax in your old age ... A relative of mine works for one of the big banks ... she has told me of a 92 year old lady who comes to the bank on the first Friday of the month.
Her taxi arrives and the driver waits outside for her. She comes into the bank and asks for a statement on her only account ..' a current account '..
Her phillosophy is ... ' If she keeps her money in a current a/c she wont earn any interest, and then she wont have to employ an accountant to fill in tax forms etc.'
When she has got her statement the driver then takes her back home.

She has over £3.000,000 in her current a/c .... all untaxable..!

[Invictas]

Or as Woody Allen said~
"I am not frightened of Death,I just don't want to be there when it happens!"
LOL

[Invictas]

As the old saying goes,"There is nothing certain but Death and Taxes!"

[Chaffinch]

When you reach State Pension age you no longer pay National Insurance contributions, but you don't automatically stop paying Income Tax. If your taxable income – including your pension – is more than your tax-free allowances you're still a taxpayer.