Friendship from across the pond

Peter Smith, a member of We'ar Shing The Light Sunderland reporters, interviewed his friend John who is also from Sunderland and now lives in America. The interview focused upon John's experience of living in the US for 40 years, the retirement process relative to the UK and their joint love of rock music. Both Peter and John are 65 years plus and still enjoying life, working and rocking!

They discussed cultural differences between the US and England, plus the role of Government in providing pension and health care. Additionally, they discussed the differences in musical tastes and concerts between the UK and US, including the live music scene in the US and ticket prices.

John how did you end up moving to the USA?

After studying Chemistry in Edinburgh, I joined an ICI division based on Teesside. From there I was transferred to Canada (we lived in the Montral area for nine years), then to Naperville , IL (near Chicago) in the US for five years. After leaving ICI, I joined a chemical company in Maryland and today live in Ellicott City near Baltimore.

You are of retirement age. How do you see the process relative to the UK

Well , with the big disclaimer that I left the UK 40 years ago and I'm sure things have changed, they appear to be quite different to me. While retirement ages are similar in both countries, it is very difficult to retire early in the USA as medical costs are very high and you have to be 65 to be eligible for the government sponsored program (which is still expensive). I read recently that according to Fidelity (a major retirement fund management company in the US), the average 65 year old couple will spend $300,000 on healthcare during the final chapter of their lives. This is in addition to the monthly health care premiums paid to the government program (called Medicare). My wife and I currently pay $7,200 per year for Medicare but are still liable for additional expenses - the deductible, eye care, dental care and long term care. We pay for a supplemental healthcare in addition to Medicare costs. Medical costs are increasing at higher rates than the average inflation.

The state pension schemes are also different. In the U.S. system, payments provided are a function of the amount contributed. It is not a flat rate. The payments therefore vary considerably by individual. For my wife and I our combined Social Security benefit will be about $65,000 per year - significantly higher than the UK. Retirement experts recommend that Social Security accounts for about 30% of income during retirement and that is be augmented by self-funded and self-managed programs like 401k, IRA's, Interest and Investments. However, not everyone can fund these things or even has a pension. So, income disparity is very large, and many people need to continue working well into their 70's. Also, all retirement income is taxable.

So, while income is higher, outgoing costs are also higher, so its hard to say which system is better. However, I do feel the UK system does not have the disparities we have over here, and everyone gets a reasonable level of health care.

On to music. What type and music do you enjoy and what differences do you see in the US relative to the UK?

I went to my first gig in Sunderland in September 1970 - Free and Deep Purple at the Rink. I continue to follow "classic rock" bands to this day and try to see vintage British bands whenever I can. Many do tour the US - The Who, The Stones, Robert Plant, Paul Rodgers, Deep Purple, Uriah Heep and Wishbone Ash to name a few; while others like Hawkwind, Status Quo and Nazareth do not. I have embraced a number of vintage US bands as well as more recent acts like Tedeschi Trucks Band and Joe Bonamassa. Excited to say there are some new young bands who I think are great - The Steepwater Band, The Georgia Thunderbolts and my latest favourites Fortune Child.

As far as I can tell the biggest difference between the two countries is the role of country music. While there are many subcategories of country music, its popularity is absolutely massive with the mainstream American public, particularly in South. Even people like Taylor Swift evolved from a sort of country music style before she became a fully-fledged pop megastar.

What about ticket prices?

Please don't get me started. Ticket prices have rocketed recently. It began pre-COVID but now rock and roll is a very expensive business. While I readily accept that bands have different values and you see this in volume demand (I am a Marketing person by trade), I despise the so-called demand based model.

Not so long-ago tickets were below $100 for all artists, with people like The Eagles and Fleetwood Mac being the first to break this barrier. As many of the bands I follow typically play smaller venues, I can still see a lot of shows for $100, but I recently paid $500 for a not great seat for Bruce Springsteen and $400 to see Guns N Roses a couple of years ago in Baltimore. That's nothing of course compared to an artist like Taylor Swift where "good" tickets can easily be $2000 or more! The "value-based model" did give me a break last year as I was able to buy tickets for the Who and Roxy Music for a mere $25 including fees. It cost me more to park the car!