Kidding myself

I look in the mirror and see this greying, wrinkled, gonk-faced old man looking back at me

I turned 40 three weeks ago. Even as I write those words I still refuse to believe them. Me? 40? It doesn’t make sense. My calendar must be malfunctioning. I still feel like I’m 20… unless I am walking up some stairs. I still behave as if I am 20. In fact I behave more like I am 20 than I did when I was 20. So I can’t be 40. I am nothing like a 40 year old.

When my dad was 40 he had been married for 17 years, had three children, two of them teenagers. He had worked hard as a teacher all his adult life and recently been promoted to headmaster, wore a suit and tie every day and had proper grown up hobbies like listening to classical music, gardening, golf, DIY and making elderflower wine.

I, conversely, am single, I’ve never been married and am childless. I am sloshing around in the insecure (in both senses) world of stand up comedy. Most nights I go drinking with other people in their twenties (“other” because I am in my twenties, remember), most daytimes I play on my Nintendo Wii. I have the latest Arctic Monkeys CD, wear Converse trainers and recently acquired a skateboard – though tellingly I am too scared to be on it when it’s moving, but it’s good to casually hold, whilst walking down the road, nodding at other sk8erbois (it means skater boy, granddad). I have no practical skills whatsoever, paying other people to mend broken stuff and even do my cleaning.

If I stop and think about it my life I is pathetic, so generally I don’t stop and think about it. I’ve been in total denial. Which is why I buy trendy, figure hugging T-shirts. Because if I am going to deny the fact that I am old, I might as well deny the fact that I am fat as well.

Reassuringly I am not alone. Whilst many people in their 40s have families and responsibilities, an increasing minority still resemble teenagers. Scary, wrinkled, grey-haired teenagers, with some kind of terrifying premature ageing disease, but teenagers nonetheless. It’s enough of a phenomenon to have been given its own portmanteau label– Kidult. They’re adults, but they behave like kids. Which is at least better than being a kid that behaves like an adult. Though I was probably one of those too.
So what’s the cause of this new social trend? Is it just a collective mid-life crisis? Partly perhaps. The start of one’s fifth decade is an unsettling and upsetting land-mark.

In my latest Edinburgh Fringe show, aptly titled, “Oh Fuck, I’m 40!”, I discuss the perspective that being half way through your life suddenly gives you. It’s like getting to the top of a hill. For your first 39 years you’re struggling up the steep slopes, heading for the top as fast as possible, not even looking around you, desperate to see what’s on the other side. Finally you are at the summit and get a clear view both ahead and behind.

You look back and you see a lush, fecund valley, full of cavorting young people who wanted to be your friends, but ahead of you is a sheer cliff dropping into a stony, icy crevasse, littered with the bodies of the dead and dying. You want to turn round and do the climb again at a leisurely pace, but you are man-handled into a toboggan and sent whizzing down the slope. You might get thrown off at any point and die or get to the bottom and die. All that is certain is you are going to die, soon, along with all the other idiots who rushed to get over the hill, only to find that the hill was what it was all about.

So it is perhaps inevitable that, faced with this sudden realisation that we are over the hill, many of us make one last grasp at the green grass of youth: desperately trying to get fit in the gym, buying a sports-car, having an affair with your secretary. But this is usually just a temporary aberration and I don’t think qualifies you as a true Kidult. A mid-life crisis is something a grown-up has. We Kidults suffer from the Peter Pan syndrome – we never grow up in the first place. We remain children, because unlike our parents we are able to.

My parents’ generation’s lives were all pretty much mapped out: they had limited choices about what they could do professionally, needed to work to survive and got married early either because sex outside of wedlock was frowned upon, or because they had had sex out of wedlock and pregnancy had followed.

A proper job and the responsibility of a family will soon make a twenty year old grow up, whether they want to or not. But my generation had more choice. Whilst my dad almost automatically followed his dad into the teaching profession, I had career options. Perhaps foolishly, but fittingly for someone who wanted to remain puerile, I chose writing and performing comedy. Even had that been a viable profession in the 1960s, my dad could never had gone down it, a) because he is really not funny in spite of his best efforts and b) because he had a wife and young children to support, which requires money. I was in debt for the first decade of my career. If I’d had a family, I’d be teaching history in a comprehensive right about now. And I might well have been happier.

Effective contraception along with the subsequent shifting social attitude to sex outside of marriage means that my generation has much more of a choice about when and if they have kids. It means marriage and responsibility can be postponed indefinitely and we are able to focus entirely on ourselves. If that isn’t a big step to becoming a perpetual teenager I don’t know what is. Though in reality the Kidult will probably be focused on their career – working hard to play hard – they just have the kind of career that doesn’t slot into the traditional 9 to 5. And their spare time is all their own.

To be honest I still always assumed I would be in a serious relationship and have spawned progeny by the time I was 40 and part of me regrets that I haven’t settled down. But mainly I’m glad. I would never have stayed married to the women I thought I loved when I was 25. I was more of an idiot then than I am now. I don’t think anyone should get married til their 35. Imagine having to live your life by any other decision you made at 22!

Having said that, when I was about that age, I did make a pact with my friend Emma that if we were both single at 40 we would marry each other. It seemed so unlikely that it was a promise I made all too readily. Though as it turns out, both of us are still fancy-free, because Emma is a Kidult too. Certainly they are less prevalent than the male version there are female Kidults. They are rarer because to be a girl Kidult you really can’t have children yourself or even desperately want them. You can’t be a Kidult if you are a mum. I know women with grown up children who regress a bit when they are in their forties, but the bubble will be burst when your 20 year old child tells you to grow up.

But women who aren’t that bothered about children are also able to ensure they don’t have them and you will spot them if you look for them, dressed up in gear from Top Shop, looking pretty good as they have time and money to look after themselves, because they’re not looking after anyone else, chasing after young men (or women) at night clubs, and generally being pesky and having the time of their lives.
But I can’t marry Emma. Kidults can’t inter-marry, mainly because nothing would ever get done and what of the progeny of such an unholy union? It doesn’t bear thinking about.

I must admit I’ve had fun, but sometimes worry that I’ve left it too late. Too late to find someone, too late to have children. But there’s still a little time left on the toboggan ride to death. And if I spawn at the right moment I’ll be able to enjoy my kids while they are still cute and giving me unconditional love and then die just as they are approaching their teenage years, saving myself an awful lot of unpleasantness.

Writing this has made me wonder why I am a Kidult? Am I trying to compensate for some perceived privation in my childhood? If my parents had just bought me a Scalextric would none of this have happened? Am I making up for being so square during my teens and twenties? Or is it just as I originally posited, I do it because I can.

I am the first to admit that my life can be slightly depressing (whose isn’t?), but it’s hard to change. Doubly so for me, because I am a comedian. It’s my job to be childish. I have made a living portraying this foolish, immature, eternal teenager on stage. Now I look in the mirror and see this greying, wrinkled, gonk-faced old man looking back at me. If I carry on with the puerile schtick I am in danger of turning into the English Wee Jimmy Krankie. Though I would never marry my own brother – however desperate things got.

Whilst fairytales can come true, it can happen to you, if you’re young at heart, I think as with most things it is a question of balance. Being grown-up doesn’t mean we can’t occasionally be silly and have pointless fun, but if you only do the stupid stuff you’re missing out too. And I am going to change. Before I am 50. I wouldn’t want things to get embarrassing.

I guess what I am saying is that if you’re still young, slow down a bit and enjoy the climb and if you’re over the hill like me then there’s nothing wrong with trying to do a bit of the descent on your skateboard. Might as well have some fun! It’s all downhill from here.

Richard Herring began writing and performing comedy when he was 14. His career since Oxford has included a successful partnership with Stewart Lee and his hit one-man show Talking Cock
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Stability is essential to solve the pension problem

The new chancellor must ensure we have a period of stability for pension policymaking in order for everyone to acclimatise to a new era of personal responsibility in retirement, says 

There was a time when retirement seemed to take care of itself. It was normal to work, retire and then receive the state pension plus a company final salary pension, often a fairly generous figure, which also paid out to a spouse or partner on death.

That normality simply doesn’t exist for most people in 2016. There is much less certainty on what retirement looks like. The genesis of these experiences also starts much earlier. As final salary schemes fall out of favour, the UK is reaching a tipping point where savings in ‘defined contribution’ pension schemes become the most prevalent form of traditional retirement saving.

Saving for a ‘pension’ can mean a multitude of different things and the way your savings are organised can make a big difference to whether or not you are able to do what you planned in your later life – and also how your money is treated once you die.

George Osborne established a place for himself in the canon of personal savings policy through the introduction of ‘freedom and choice’ in pensions in 2015. This changed the rules dramatically, and gave pension income a level of public interest it had never seen before. Effectively the policymakers changed the rules, left the ring and took the ropes with them as we entered a new era of personal responsibility in retirement.

But what difference has that made? Have people changed their plans as a result, and what does 'normal' for retirement income look like now?

Old Mutual Wealth has just released. with YouGov, its third detailed survey of how people in the UK are planning their income needs in retirement. What is becoming clear is that 'normal' looks nothing like it did before. People have adjusted and are operating according to a new normal.

In the new normal, people are reliant on multiple sources of income in retirement, including actively using their home, as more people anticipate downsizing to provide some income. 24 per cent of future retirees have said they would consider releasing value from their home in one way or another.

In the new normal, working beyond your state pension age is no longer seen as drudgery. With increasing longevity, the appeal of keeping busy with work has grown. Almost one-third of future retirees are expecting work to provide some of their income in retirement, with just under half suggesting one of the reasons for doing so would be to maintain social interaction.

The new normal means less binary decision-making. Each choice an individual makes along the way becomes critical, and the answers themselves are less obvious. How do you best invest your savings? Where is the best place for a rainy day fund? How do you want to take income in the future and what happens to your assets when you die?

 An abundance of choices to provide answers to the above questions is good, but too much choice can paralyse decision-making. The new normal requires a plan earlier in life.

All the while, policymakers have continued to give people plenty of things to think about. In the past 12 months alone, the previous chancellor deliberated over whether – and how – to cut pension tax relief for higher earners. The ‘pensions-ISA’ system was mooted as the culmination of a project to hand savers complete control over their retirement savings, while also providing a welcome boost to Treasury coffers in the short term.

During her time as pensions minister, Baroness Altmann voiced her support for the current system of taxing pension income, rather than contributions, indicating a split between the DWP and HM Treasury on the matter. Baroness Altmann’s replacement at the DWP is Richard Harrington. It remains to be seen how much influence he will have and on what side of the camp he sits regarding taxing pensions.

Meanwhile, Philip Hammond has entered the Treasury while our new Prime Minister calls for greater unity. Following a tumultuous time for pensions, a change in tone towards greater unity and cross-department collaboration would be very welcome.

In order for everyone to acclimatise properly to the new normal, the new chancellor should commit to a return to a longer-term, strategic approach to pensions policymaking, enabling all parties, from regulators and providers to customers, to make decisions with confidence that the landscape will not continue to shift as fundamentally as it has in recent times.

Steven Levin is CEO of investment platforms at Old Mutual Wealth.

To view all of Old Mutual Wealth’s retirement reports, visit: products-and-investments/ pensions/pensions2015/