Originally Posted by BGM
To plays devils advocate what are people's options with regards to saving elsewhere.. Perhaps offshore? Or what?
Thankfully I do plan to have other income sources when I retire... Although none of them are very mature yet!
My plan which I have already made headway into is to diversify, don't want to go into too much detail but the ultimate goal is to move my wealth abroad to a country where they have a much more positive attitude to wealth and taxation thereof and also where your money goes a lot further. Properties abroad is the direction I'm heading, want to sort out a nice place for me and my family to live and a few more to bring in some rental income and I'll be set.
I'll pop back to the UK from time to time for shopping trips and visits but I don't plan on living out my old age in a country which has one of the highest costs of living in the world and who insist on taxing you to the hilt throughout your working life and then taxing you again when you retire and then even after you die through inheritance tax, they can f*ck right off.
As stated before, I am taking positive action to plan my OWN financial future on my own terms, not relying on some pension pot which may or may not even deliver what I want dependent on the whims of a government who don't know how to plan for the financial stability\future of this country.