'Baby-boomers own half of Britain's wealth' telegraph article today.

ukcarper

abaxas wrote: »

So you were lazy. You could retrain yourself, but obviously training is someone else's resposibility.

I'm lucky I don't need to but when you are retrained you wouldnt get a job anyway.

ninky_2

FATBALLZ wrote: »

I'm not angry - I can accept I can only play the hand life has dealt me, but it baffles me that Baby Boomers sit their in their £300k mortgage-free houses,where only the father works, with a couple of cars sat outside, saying my generation has it all, when despite the fact I have nearly enough savings to have bought a house outright back in their day I still have to take a more expensive mortgage (in real terms) than they would have done with no deposit - we also can't afford to have only one parent working, and have to prop up their pensions to the severe detriment of our own.

let me guess - you are a glass half empty sort of person? out of interest, do you have baby boomer parents? if so, will their 300k mortgage-free house be passed on to you in any way?

ukcarper

FATBALLZ wrote: »

When I get to 50 nobody will want me either. The only difference is I wont have a fat FS pension and free £100k of housing wealth to fall back on. I also won't get a state pension until I'm 70 in all likelihood.

Yea but your probably live longer

DaddyBear

ukcarper wrote: »

Yea but your probably live longer

Not likely. Seems like a type A personality. Heart attack at 60 is my guess.

abaxas

ukcarper wrote: »

I'm lucky I don't need to but when you are retrained you wouldnt get a job anyway.

Maybe you could work for yourself? You never know, you might be able to do something without having your hand held.

Harry_Powell

chaostheory wrote: »

You having a laugh!?

When I was a kid we worried about where food was coming from. When my shoes wore out, I used card board until my parents had saved up enough money to buy me a new pair. I prayed it wouldn't rain. I was allowed chocolate once a week and I had one pack of crisps per week. My clothes were mostly hand-me-downs. When I was a kid we had no central heating and most of the house was freezing except around the fire.

Cardboard for your shoes? Luxury! If our shoes wore out we had to stuff them with nettles! crisps and a fire??!!! Unbelievable! We used to live in a hole in the ground huddled around a candle for warmth and eat grit for our tea. You don't know you're born!

FATBALLZ

ninky wrote: »

let me guess - you are a glass half empty sort of person? out of interest, do you have baby boomer parents? if so, will their 300k mortgage-free house be passed on to you in any way?

Not really I'm a factual sort of person who tells it like it is. I don't spend my days wallowing in self pity about the unfairness of it all, but I do know that it isn't fair. Personally I know things will be alright for me, I'll get myself a house, it's just that I'll have to pay a lot more for it than my parents did for theirs, plus theirs will be nicer. I can also put away a decent amount for a reasonable pension, but I'll have paid a lot more towards it than my parents have, and get less benefit from it.

Many my age will be priced out though, those are the ones I feel sorry for. Mate of mine just picked up a nice flat in Edinburgh for £120k, with an incinerator pumping smog through the ventilation and making it stink, plus it's one bed and quite small. Good luck raising a family there :rotfl: but thats all he can afford.

Yes I will probably get my parents house, when I'm 60 and won't have a use for it. Maybe I'll give it to my kids, give them a chance of a home that was denied to my generation!

ninky_2

Harry_Powell wrote: »

Cardboard for your shoes? Luxury! If our shoes wore out we had to stuff them with nettles! crisps and a fire??!!! Unbelievable! We used to live in a hole in the ground huddled around a candle for warmth and eat grit for our tea. You don't know you're born!

grit? you had grit? we used to dream of grit! we had to build a house out of old cigarette ends and bits of broken glass and our dad used to beat us to keep us warm.:rotfl:

ninky_2

FATBALLZ wrote: »

Not really I'm a factual sort of person who tells it like it is. I don't spend my days wallowing in self pity about the unfairness of it all, but I do know that it isn't fair. Personally I know things will be alright for me, I'll get myself a house, it's just that I'll have to pay a lot more for it than my parents did for theirs, plus theirs will be nicer. I can also put away a decent amount for a reasonable pension, but I'll have paid a lot more towards it than my parents have, and get less benefit from it.

Many my age will be priced out though, those are the ones I feel sorry for. Mate of mine just picked up a nice flat in Edinburgh for £120k, with an incinerator pumping smog through the ventilation and making it stink, plus it's one bed and quite small. Good luck raising a family there :rotfl: but thats all he can afford.

Yes I will probably get my parents house, when I'm 60 and won't have a use for it. Maybe I'll give it to my kids, give them a chance of a home that was denied to my generation!

so the generation before us live in better housing? but the generation before them lived in worse. would it be fair if we lived in better housing than the baby boomers?

as for inheriting a house when your 60 (i can't quite believe you are actually moaning when you are due to inherit an entire house), many baby boomers are now 60. given that by your own estimates you won't even be retired by then i'm sure it will come in handy.

DaddyBear

FATBALLZ wrote: »

Not really I'm a factual sort of person who tells it like it is. I don't spend my days wallowing in self pity about the unfairness of it all, but I do know that it isn't fair. Personally I know things will be alright for me, I'll get myself a house, it's just that I'll have to pay a lot more for it than my parents did for theirs, plus theirs will be nicer. I can also put away a decent amount for a reasonable pension, but I'll have paid a lot more towards it than my parents have, and get less benefit from it.

Many my age will be priced out though, those are the ones I feel sorry for. Mate of mine just picked up a nice flat in Edinburgh for £120k, with an incinerator pumping smog through the ventilation and making it stink, plus it's one bed and quite small. Good luck raising a family there :rotfl: but thats all he can afford.

Yes I will probably get my parents house, when I'm 60 and won't have a use for it. Maybe I'll give it to my kids, give them a chance of a home that was denied to my generation!

Great post Fatballz. Sums up my feelings too.
Wife and myself both have good jobs and will be in the top 10% of earners in the next 5 years so we will be ok. Takes the p1ss though that we currently cant afford a 3-bed that's not on a council estate in the area we live.
Also both have final salary pensions so unless the government screws us over we should be ok, even in that event we could both work in the private sector solidly for 5 years and earn enough money to see us right.
Still, we are the lucky ones. About 90% of the generation below us are absolutely screwed. My children may be okay if we hand our inheritence from our parents (only 1 sibling between us) straight to them. I'll still be encouraging them to take foreign languages though.