Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • boatman
    • By boatman 12th Mar 17, 11:42 AM
    • 3,353Posts
    • 2,348Thanks
    boatman
    Babyboomers ruined it for the rest of us
    • #1
    • 12th Mar 17, 11:42 AM
    Babyboomers ruined it for the rest of us 12th Mar 17 at 11:42 AM
    There is a lot in the media about pensioners struggling. But given they were the ones demanding higher and higher pay, going on strike every 5 minutes, opening the door to cheap foreign imports. Do they have a right to complain from their half a million pound houses when the young can't buy a house?
Page 3
    • tesuhoha
    • By tesuhoha 12th Mar 17, 2:58 PM
    • 15,945 Posts
    • 41,642 Thanks
    tesuhoha
    OP, why d'you even give a toss? Why begrudge the elderly a few extra bottles of Stout? Lifes too short to worry about such trifling matters.

    Go treat yourself to new IPhone and leave the elderly in peace to enjoy their last days on earth listening to max bygraves..
    Originally posted by tommix
    The baby boomers of today would be more likely to listen to Pink Floyd, Led Zeppelin, Eric Clapton. The older ones, the Beatles, Elvis Presley and the Four Seasons.
    The forest would be very silent if no birds sang except for the birds that sang the best

    The best kept secret is an open secret.

    A vacuum is nature's default state.
    • POPPYOSCAR
    • By POPPYOSCAR 12th Mar 17, 2:58 PM
    • 10,404 Posts
    • 21,560 Thanks
    POPPYOSCAR
    Sorry but I am going to have a rant. Today several times under different headings and topics in and on the media, I have heard the statement " older people have had it too good, for too long. " I know older people who have retired and travel round the world, something I'll never be able to afford". And " why should youngsters supplement pensions for the elderly".
    Well at 67 let me tell these 'ignorant' young people, I and many others of my age left school at 15 and have worked, paid, and still paying my taxes, National insurance and paid into a private pension in readiness for my retirement. NO ONE SUPPLEMENTS me. I get out of the system the money I put into it. When I married at nineteen Until my second child was born I washed my washing in the bath tub, we didn't have a mobile phone each, we didn't have a car each, we didn't smoke, we didn't go out to nightclubs etc, we didn't have super Dooper buses that took our prams or pushchairs. You try getting on a bus with all your shopping, folding down a pushchair and holding onto a child in the other arm. We didn't go on holidays when the interest rates on houses was ll to 15% because we couldn't afford both. We bought a tiny property that we could afford, had second hand furniture while we worked to better ourselves, and we walked our kids to school because we couldn't afford a car. But through hard work and savings,( not buying all the materialistic stuff people seem to think its their right to have today) it provided us with a good retirement that we are enjoying now. Our pension IS NOT A BENEFIT its money paid out to us that has been paid in by us. Those youngsters that keep moaning about how hard it is today, I suggest you prioritize your spending, you too may then be able to enjoy your well EARNED retirement too. I apologise to those more understanding and less ignorant youngsters.
    Originally posted by martinthebandit


    What a great post!!
    • worldtraveller
    • By worldtraveller 12th Mar 17, 3:00 PM
    • 11,115 Posts
    • 21,115 Thanks
    worldtraveller
    OK, my time to vent my viewpoint about the current generation and mine, in the recent past.

    To start with, I see my town centre in the evenings full of young people eating out in restaurants and drinking in bars pretty much every day of the week. Many will also, no doubt, be texting, Facebooking & Tweeting on the latest smartphone. That was completely unheard of in my 20's-30's. Of course it's pretty much all on credit, yet many of them still moan that they don't have enough, or are unable to save for a mortgage. Many of them probably arrived in new cars, couples probably having one each, or they just thought absolutely nothing of taking a taxi. LOL!

    OK, just some personal history over the past 30-40 years, for anyone that may be interested:

    I don't remember any real problems for my parents in the mid-70's when we had the oil crisis, apart from the power cuts at home. My fathers business was able to carry on pretty much as before.

    In the recession of the early 80's I had only recently started working. I was able to keep my job, but it was tough, with no wage increases for 3-4 years. My father had to re-mortgage the family house to support his business, which, like many, really struggled, through absolutely no fault of his own.

    I managed to scrape enough money together for a mortgage on my first house in the mid/late 80's, only to be hit with interest rates of around 16% at one point. I don't think I had any furniture in the house for at least a couple of years, slept on a mattress on the bedroom floor and cooked on a primus stove placed in the kitchen sink. Meals out weren't heard of, apart from, maybe, once every 3-4 months or so. Friday nights and weekends were probably the choice between beans on toast for dinner, or a pint or two, maximum, down at the pub with my mates on one day.

    Things started to improve a bit until the early 90's when we had the next recession, but that wasn't too bad in my own experience, but I do remember that one of my sisters lost her house after going into negative-equity.

    Things were great then for me in the mid/late 90's and early 2000's but I was always very careful with money and very critical of others that spent what they didn't have. Having seen my father go through serious business problems over the years, on and off, through no fault of his own, it taught me to be careful and only spend what I had (apart from the mortgage which I had budgeted for without too much potential stress).

    It amazed me seeing the mass profligacy, spending & greed of the consumer (and Government of course!) in the mid/late 90' & early 2000's and I'm really pleased for the lessons I learn't from my parents, as it kept me in good stead then & now. I didn't really spend any more in real terms than I did in previous years and, unlike most, I saw the 2008 recession coming (However, not to the extent that actually happened).

    I see many people today to be selfish, clueless & financially ignorant, with a 'I want it now', materialistic, spoilt, keep up with the Joneses, credit card spending, beyond their means, attitude.

    Many of these bleating, moaning young people really do need to get a reality check on life in the real world and not their largely plastic subsidised lifestyle and 'I want it now and I don't care how I pay for it' culture!

    I really do fear for the future, when interest rates are bound to rise and those that have seen rates so low, for so long, get a major reality check!

    So, there you have it! That's mine. You can take it, or leave it. Frankly, I don't care, because if you think it's always going to be rosy, as, IMHO, it's largely been in the past decade, or so, I believe that most people should think again!
    Last edited by MSE ForumTeam3; 13-03-2017 at 10:56 AM. Reason: Language
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
    • POPPYOSCAR
    • By POPPYOSCAR 12th Mar 17, 3:10 PM
    • 10,404 Posts
    • 21,560 Thanks
    POPPYOSCAR
    We are not retired yet but I have to say our children have it much better than we did at their age.

    At the age of 25 our son has just bought a bigger house. Him and his girlfriend have never had anything second hand(unlike us when everything was second hand to begin with).

    They have holidays abroad at least once a year, have the latest phone etc etc etc.

    Neither of them has been to uni, they learned a trade and have worked damn hard with no financial handouts from any one.
    • dktreesea
    • By dktreesea 12th Mar 17, 3:18 PM
    • 5,552 Posts
    • 8,667 Thanks
    dktreesea
    It's Sunday - I'm sure your mum/dad are at home.... why not phone them up and ask them why they ruined your life?
    Originally posted by PasturesNew
    Only if you are now in your late 50s or so. I think for most people that would the grandparents they need to be ringing, not their Mum and Dad.
    • lush walrus
    • By lush walrus 12th Mar 17, 3:19 PM
    • 1,895 Posts
    • 1,564 Thanks
    lush walrus
    To expect a whole generation to perform in one way or other is ludicrous. Some baby boomers have excelled others didn't take of couldn't take advantage of the perks of their generation. Same now, there are so many things that are easier and profitable now that weren't then.

    My parents were fortunate enough to be able to gain from their time of birth, they purchased their first house at 19, moved from job to job with ease of the buoyant job market, they purchased cheap shares in Government sell offs, invested their inheritance.

    Some of those opportunities were gone when I became an adult But my husband and I have also gained from our time of birth, we studied in areas we wanted to for free, I was able to buy a house nearby to Uni with my parents for me to live in and to rent rooms to friends, we had part time jobs we loved, we set up businesses on the back of that, we made the most of the easy years of lending and bought investment properties without any difficulties.

    My nephews are in their late teens / early twenties, they have made the most of easy importing and selling online and have been doing so since they were 14 or 15. Both of them have already saved for house deposits, have or are close to finishing uni without a debt.

    Each of the three generations have worked hard, went with the opportunities that were present at the time and I don't think any of us feel the other generation had it harder or easier. There is a gain in each generation, each generation just needs to take it rather than reflecting on times gone with woe move forward and embrace now.
    • tesuhoha
    • By tesuhoha 12th Mar 17, 3:21 PM
    • 15,945 Posts
    • 41,642 Thanks
    tesuhoha
    Only if you are now in your late 50s or so. I think for most people that would the grandparents they need to be ringing, not their Mum and Dad.
    Originally posted by dktreesea
    I am a baby boomer and my son and daughter are early 30s late 20s.
    The forest would be very silent if no birds sang except for the birds that sang the best

    The best kept secret is an open secret.

    A vacuum is nature's default state.
    • Londonsu
    • By Londonsu 12th Mar 17, 3:34 PM
    • 1,327 Posts
    • 2,825 Thanks
    Londonsu
    My Husband receives a state pension that he paid in for 45 years to accrue, he didn't opt out so his pension is higher than the basic one in fact its about the same a year as someone working for 30 hours a week would earn


    I put his details on the tax credit calculator as if he was single working age (30 years old) on 30 hours week NLW, under tax credits he would get £61.35 every 4 weeks (which would cover the £31 a month NI that a working person has to pay) he would also get free prescriptions, eye tests and dental treatment (which pensioners BTW don't get) and would be able to claim other income based benefits like HB and CTR.


    I then put in a calculation based on a couple, if I were to lose my job we may be able to get pension credit which would take us up to £237.55 and even that's changing now so I wouldn't get it, as a non working partner of the 30 year old working man claiming tax credits we could get £216.05 every 4 weeks.


    And then I put in the calculations as if my dad was working now, when I was young in the 50s dad had to work 3 jobs to feed and clothe me and my sister my mum didn't work, a working man on 30 hours a week less than half the hours a week my my dad had to work, can claim £470 every 4 weeks CTC and TC of 216 every 4 weeks, I wish my old dad could have claimed that type of money instead of having to work all those hours


    The point I am making is yes pensioners may take out more then they put in but todays working age people with the benefits they are getting without having to pay in first will certainly end up taking more out of the state during their lifetime
    Last edited by Londonsu; 12-03-2017 at 3:55 PM.
    • Londonsu
    • By Londonsu 12th Mar 17, 3:41 PM
    • 1,327 Posts
    • 2,825 Thanks
    Londonsu
    We are not retired yet but I have to say our children have it much better than we did at their age.

    At the age of 25 our son has just bought a bigger house. Him and his girlfriend have never had anything second hand(unlike us when everything was second hand to begin with).

    They have holidays abroad at least once a year, have the latest phone etc etc etc.

    Neither of them has been to uni, they learned a trade and have worked damn hard with no financial handouts from any one.
    Originally posted by POPPYOSCAR



    Poppy are you my sister???? because that's exactly the same as the young generation in my family, 5 working all are on the property ladder, none have any uni fees, all with jobs like plumbers and electrician even the youngest still in education as got sponsorship from the RAF so will be learning a marketable trade - I have no worries about any of their futures they are all doing ok and I am proud of them
    Last edited by Londonsu; 12-03-2017 at 3:53 PM.
    • Torry Quine
    • By Torry Quine 12th Mar 17, 3:51 PM
    • 16,899 Posts
    • 25,766 Thanks
    Torry Quine
    I really dislike this inter-generational point scoring. Within all generations there are some sho are doing well, some who are struggling and those in the middle who get by. Blaming others helps no-one.

    My elderly relative increasingly feels like a burden when they hear how we can't 'afford' to look after the people of their generation. I can remember them celebrating making £1000 annually!!
    Life is like riding a bicycle, to keep your balance you must keep moving . Albert Einstein.

    I can bear pain myself, he said softly, but I couldna bear yours. That would take more strength than I have -
    Diana Gabaldon, Outlander
    • VfM4meplse
    • By VfM4meplse 12th Mar 17, 3:54 PM
    • 22,944 Posts
    • 47,816 Thanks
    VfM4meplse
    The baby boomers of today would be more likely to listen to Pink Floyd, Led Zeppelin, Eric Clapton. The older ones, the Beatles, Elvis Presley and the Four Seasons.
    Originally posted by tesuhoha
    These are classics, and appeal to those of us who are much younger too!

    Time for a toon.
    • pollypenny
    • By pollypenny 12th Mar 17, 4:06 PM
    • 22,078 Posts
    • 56,551 Thanks
    pollypenny
    How many more times is this topic going to appear?

    It's all been said. However, I can't resist one last go!

    We had one advantage as baby boomers - interest rate relief on mortgages, later called MIRAS.

    We paid tax at 33%
    There was Retail Price Maintainence - hence, few bargains, white goods were dear.
    Little in the way of childcare
    No equal pay
    No equal opportunities
    Only the man's wage taken into account for loans

    Then houses - new houses were usually 3bed semis with one bathroom, gardens like the Somme and central heating was a extra.

    What was a luxury has become an essential to the young now, it seems.
    Member #14 of SKI-ers club

    Words, words, they're all we have to go by!.

    (Pity they are mangled by this autocorrect!)
    • VfM4meplse
    • By VfM4meplse 12th Mar 17, 4:12 PM
    • 22,944 Posts
    • 47,816 Thanks
    VfM4meplse
    I remember my parent's lives in their 20s-40s as being tough, and certainly not with the slightest envy. Things only really improved as they hit ther 50s and got rid of their financial responsibilities towards their children.
    • tensandunits
    • By tensandunits 12th Mar 17, 5:16 PM
    • 814 Posts
    • 1,220 Thanks
    tensandunits
    OK, my time to vent my viewpoint about the current generation and mine, in the recent past.

    To start with, I see my town centre in the evenings full of young people eating out in restaurants and drinking in bars pretty much every day of the week. Many will also, no doubt, be texting, Facebooking & Tweeting on the latest smartphone. That was completely unheard of in my 20's-30's. Of course it's pretty much all on credit, yet many of them still moan that they don't have enough, or are unable to save for a mortgage. Many of them probably arrived in new cars, couples probably having one each, or they just thought absolutely nothing of taking a taxi. WTF! LOL!
    Originally posted by worldtraveller
    That's down to social pressure. Everyone 'has to' have a smartphone, go out drinking, have an expensive wedding, go on several holidays a year, attend (or have) hen and stag weekends, keep buying clothes, etc etc and those who don't are labelled losers.
    • calicocat
    • By calicocat 12th Mar 17, 5:21 PM
    • 4,679 Posts
    • 22,040 Thanks
    calicocat
    There is a lot in the media about pensioners struggling. But given they were the ones demanding higher and higher pay, going on strike every 5 minutes, opening the door to cheap foreign imports. Do they have a right to complain from their half a million pound houses when the young can't buy a house?
    Originally posted by boatman
    Ok, I will bite too, to the same poster doing the same thing.

    Bitter.....

    Just a sad little bitter soul, who's parent would not (maybe aren't ) speaking to them if they had any sense .

    Will you look after your parents, help them ? Or are you too bitter for that seeing as they had it so good. Do you spare a thought about what previous generations have done to get where we are now.

    Bitter, and clearly absolutely no respect whatsoever. They rarely come back to the thread though, just throw it out there for fun... .

    If anyone plays anything like Val or that Irish geezer when I'm old and god forbid in a ruddy home I am going to kick off big style. Yuk.........yuk...shoot me now.
    Yep...still at it, working out how to retire early..
    • lessonlearned
    • By lessonlearned 12th Mar 17, 5:23 PM
    • 9,801 Posts
    • 55,191 Thanks
    lessonlearned
    Buy Poseidon 1969.
    Originally posted by latest flame
    Actually I was thinking more about the truly amazing opportunities there are in the world today for our young people.


    As a girl born in 1951 and brought up on a council estate there were very limited opportunities for girls of my background and class. I had to fake it till I made it.

    Still I have not done too bad. Had my first part time job at the age of 13, learned to speak "proper" and just took it from there.
    • latest flame
    • By latest flame 12th Mar 17, 5:42 PM
    • 856 Posts
    • 1,645 Thanks
    latest flame
    That's down to social pressure. Everyone 'has to' have a smartphone, go out drinking, have an expensive wedding, go on several holidays a year, attend (or have) hen and stag weekends, keep buying clothes, etc etc and those who don't are labelled losers.
    Originally posted by tensandunits
    Thats one thing I taught my kids to take with a pinch of salt, they still do some of the "stuff" but at least they think about it and choose what they do.
    Neither has an iphone, ipad etc.
    • VfM4meplse
    • By VfM4meplse 12th Mar 17, 5:58 PM
    • 22,944 Posts
    • 47,816 Thanks
    VfM4meplse
    Neither has an iphone, ipad etc.
    Originally posted by latest flame
    I wouldn't say I'm materialistic but these are two gadgets that I would severely miss! They're essential to my working life.

    My little niece has been glued to both since she was about 5 months old (completely my fault). I have now trained her to understand "no more iPhone" and "no more iPad", which she repeats with great distress.
    • melbury
    • By melbury 12th Mar 17, 7:05 PM
    • 9,625 Posts
    • 14,340 Thanks
    melbury
    Life is so different now. Today OH and I had cause to go back to an area that we haven't visited for many decades (where we used to live close to) and it was such a shock.

    The extensive building and vast road networks (BTW I am talking Salisbury/Southampton/ Winchester area) - so changed from our fond memories of knowing it so well in the 1970's.

    It was such a relief to return to Somerset and, even though most of the towns down here are being ruined by too much building, there is still some semblance of peace and tranquillity.

    I hate motorways, busy roads and extremely built up areas.

    How on earth do people cope with living in big cities?
    Last edited by melbury; 12-03-2017 at 7:14 PM.
    Stopped smoking 27/12/2007, but could start again at any time

    • decbel
    • By decbel 12th Mar 17, 7:17 PM
    • 1,056 Posts
    • 1,053 Thanks
    decbel
    What is a baby boomer?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,775Posts Today

8,996Users online

Martin's Twitter