Are you richer than your parents were?

Former_MSE_Debs
Former_MSE_Debs Posts: 890 Forumite
edited 23 October 2012 at 11:30AM in MoneySaving polls
Poll started 23 Oct 2012

Over the last century, each generation has got progressively richer. Yet in these difficult economic times, is it still true? We’re talking wealth and income here (factoring in inflation). Of course, you can’t be totally accurate but take your best guess.


Are you richer than your parents were at the same age?






Did you vote? Why did you pick that option? Are you surprised at the results so far? Have your say below. To see the results from last time, click this
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Comments

  • I think this is really difficult to judge. My parents had children and mum was a SAHM mum when my age, so things would have been tight, however they could afford a home of their own, which I cannot.

    28/08/2010 Started saving for a house deposit
    25/04/2014 Completed with a £67k deposit
    10/05/2014 1st Overpayment made
    10/07/2016 Remortgage complete
  • It's hard to tell - prices are different, so really this poll needs to be accompanied by an inflation calculator.
  • yea can't answer it, not comparing like with like. I'm worth more asset wise but no richer
    Nothing to see here, move along.
  • I'm substantially better off. I own my own house outright (they could not afford one), have a car (they did not), and up until recently owned a second home as well .This is now sold and I have money in the bank.

    I'm a baby boomer :)
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
  • SAMFOB
    SAMFOB Posts: 52 Forumite
    edited 11 October 2013 at 10:45AM
    ..............................
  • McKneff
    McKneff Posts: 38,816
    Name Dropper First Anniversary First Post
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    I'm substantially better off. I own my own house outright (they could not afford one), have a car (they did not), and up until recently owned a second home as well .This is now sold and I have money in the bank.

    I'm a baby boomer :)

    Me too, my parents would have thought they had won the Pools if they had what we had in property and savings.

    I expect our offsprings to be substantially better off than we are.

    ~They are naturally going to get half of our estate each and half of their spouses estates.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • Casanova
    Casanova Posts: 49 Forumite
    edited 23 October 2012 at 12:14PM
    I'm 27. My parents hadn't met at this age, but they'd both owned houses for a long time (my dad bought his first at 18, my mother at 20!). Both my parents had just bought their first new car around this time (my mum a Fiat Strada, my dad a Cavalier). My mum worked in local government and my dad was selling windows. Both had savings, no student debt and no personal debt except their respective mortgages.

    I have no savings, can't afford a house and have five-figure personal debt and the same again in student debt. Although I reckon I'm probably earning more in real terms than either of them was at my age, I am certainly worse off.
  • SailorSam
    SailorSam Posts: 22,754
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    I'm on benefits at the moment so can't really say i'm well off but i came from a one parent family in a Council flat and we'd live on egg & chips; had second hand furniture, and holidays in Rhyl only 'cos my Nan had a caravan. I suppose i'm better off now.
    Liverpool is one of the wonders of Britain,
    What it may grow to in time, I know not what.

    Daniel Defoe: 1725.
  • mystic_trev
    mystic_trev Posts: 5,430
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    edited 23 October 2012 at 12:26PM
    My Father retired at 65.

    I retired at 42 - 16 years ago!

    It was thanks to my Parents guidance, that I was able to achieve so much at an early age. Wealth and happiness:j
  • At my age my parents were established in their careers and owned their own homes. I have just began in my chosen career have never owned my own home and can barely afford rent. Go figure.
This discussion has been closed.
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