Generation Whine

1984ReturnsForReal_2

Generali wrote: »

As to why Baby Boomers hold more wealth than other age groups? Yes it is.

Most people don't seem to understand how powerful compound interest is.

See, I would put it down to land prices, house prices, privatisation & the EU.......


Without that there is no compound interest.

JonnyBravo

Graham_Devon wrote: »

So I do sympathise with how they struggled and did a damn good job with what they had.

Do you mean the money they had or the child they had?

You see I might agree or disagree depending on your answer.

Generali

1984ReturnsForReal wrote: »

See, I would put it down to land prices, house prices, privatisation & the EU.......


Without that there is no compound interest.

Land and house prices will have made a difference but the main thing is compound interest.

If you put £1,000 into an investment paying 7% (which a decent investment should after charges and inflation) then:

After 10 years you have less than £1,967
After 20 years you have £3,869
After 30 years you have £7,612
After 40 years you have £14,974.
After 45 years you have £21,000 or more than 10 times the amount you'd have after 10 years!

That's the single biggest reason why baby boomers hold most of the wealth in the UK. In 20 years time it'll be Generations X & then Y and then whatever the lot after that are called. It's got nothing to do with university costs or iPads.

Percy1983

Blacklight wrote: »

First of all you're lucky to have a bloody education and not have to leave school at 15/16 to support your family like your parents did. Most baby boomers I know with a degree were in their 50's when they got it. So you have to pay for higher education. Tough, if you want to earn a big salary you're going to have to shed the cotton wool wrapping, stand on your own two feet and deal with it. Your parents had it harder at your age.

You miss one big point here, the boomers could leave school and as long as they had some sense they could get a job, to which they could buy a house.

Now you need higher qualifications just to have a chance to get a higher paid job to be able to afford a house.

So yes I broke the cotton wool and now earn enough money and will be on the ladder soon enough. Yet those who just left school and worked like there parents can't afford a house like ther parents could.

Basically if given the choice I would have been born earlier and yes maybe of had a tougher childhood, I would raher of hd a tough 0-20 and be setup for life afterwards than have the 'easy' 0-20 I have had and be screwed for the rest fo my life.

There is other things young people get stung with, have you seen car insurance? if you are under 25 you are an awful driver and will crash! (or at least thats what the premiums say) yet by some fluke I have made it to 27 without a crash. I still remember my first car, a little rusty 1.1 fiesta, insurance cost £1500, yes more than the car was worth. Yes I will accept that less experience etc meant I was a higher risk, but that was classing me as guilty before I even moved.

Blacklight

Percy1983 wrote: »

I would raher of hd a tough 0-20 and be setup for life afterwards than have the 'easy' 0-20 I have had and be screwed for the rest fo my life.

Would you care to expand on that? At the moment it sounds like more baseless whinging.

Percy1983

1, I am going to be older when i have children so therefore older through there entire lives.

2, I am going to have to pay a much higher percentage of my wages to have a stable home for said family.

3, I am going to be taxed heavily as the boomers are claiming more in than they have ever paid in.

4, I have to maintain the same higher income for the rest of my working life, I can't get 'just any job' to be able to afford a mortgage like the generation before me.

5, My wife to be is going to have to keep working and we can't afford to take as much time off to spend with our kids as the boomers did.

6, Between the high levels of chavs having kids for a living and high levels of immigration there will probably be a civil war at some point in my life time.

I assume you where born before 1980 then?

StevieJ

Percy1983 wrote: »

There is other things young people get stung with, have you seen car insurance? if you are under 25 you are an awful driver and will crash! (or at least thats what the premiums say) yet by some fluke I have made it to 27 without a crash. I still remember my first car, a little rusty 1.1 fiesta, insurance cost £1500, yes more than the car was worth. Yes I will accept that less experience etc meant I was a higher risk, but that was classing me as guilty before I even moved.

Always been that way.

40% of road deaths are young drivers

Thursday, February 15, 2007

• Road deaths biggest in 15-25-year-old age group
• Same age group has just one in eight licenses
• Calls for urgent shake-up of driver training

http://www.whatcar.com/car-news/40-of-road-deaths-are-young-drivers/224194

StevieJ

Blacklight wrote: »

Would you care to expand on that? At the moment it sounds like more baseless whinging.

We have the King of the Whingers here I wouldn't mind but you can buy a flat for £32k where he lives, I can think of one possible reason why he doesn't like his parents, they didn't call you Percy did they :eek:

pinkteapot

Considered emigrating Percy?

Percy1983

If you can honestly say you would recommed any sane person buy a flat in Oldham? if you know the area you will understand.

Ideally I would love to get out of the area, its all very well you saying there is cheap housing near me, but trust me you don't want to live there. There is nicer parts of Oldham which aren't to badly priced to which I am saving for. Round here most cheap property gets bought up by BTL parasites, which then get rented to none working parasites. I don't want to move into the middle of it.

Don't worry my name isn't actually Percy, I have a normal name so no bitterness there. :rotfl: