Generation Whine

ILW

Graham_Devon wrote: »

My parents struggled, I can remember it.

My parents bought a house a year before I was born. They had me, and mum gave up work. No benefits back then, only child benefit, so it was all done on dads lorry driver wage at the time. They then had my sister. We then moved around 7 years later (mum then working a very small number of hours a week, just serving in a shop while me and sis were at school) and bought a bigger house.

All my mum and dad remember was struggling, and rightly so. BUT. They did all that on one wage, and a bit of pocket money for 2-3 hours a day serving in a shop as and when.

You simply could not do it now. Not even with all the extra benefits given.

So I do sympathise with how they struggled and did a damn good job with what they had. And that's what I think a lot of those of that age remember. What they cannot see is that what they did then ans struggled to do, is impossible to anyone starting out now.....at least, someone with the same sort of circumstances.

Not sure you are right there, rough wage for a lorry driver now is about £40k. This would get a mortgage of about £150k. You can buy a house in nearly any region of the country for that. (Even some parts close to London)

ILW

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.

Currently it is below inflation in most cases. APR is compunded.

pinkteapot

Percy1983 wrote: »

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

As a trend, isn't part of the reason that people are getting married and having kids later because so many more people go to university now? In the 1960s it was around 4% of school-leavers, now it's more like 40%. That's a big shift in the age at which people start their careers (and some would argue their adult lives). This affects not only the age for marriage and kids in a lot of cases, but also getting savings started to buy houses etc.

My parents both left school at 16, as neither of their parents could afford for them to stay on. They were both working and starting to save money for 6 years before I did the same at 22. Although you don't save huge amounts of money in the first few years of your career, it's still a long enough period of time to make quite a difference.

Percy1983 wrote: »

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.

I think that's a massive generalisation. The boom-age people I know who are in a 'nice' house; the type of that age that people targeting the generation have in mind, had the main bread-winner in a reasonably senior job, and the vast majority had the other person in at least some employment (part time, low paid generally).

I don't know any boomers who bought their house, had kids, then had one person working in Tesco and one at home full time.

Percy1983 wrote: »

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.

Well that really would screw us financially (I was born in the 80s too).

ukcarper

Percy1983 wrote: »

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

I'm a boomer haven’t claimed anything yet paid in a lot of tax (do you remember when basic rate income tax was 33%) and National Insurance.

Chris2685

Bloody hell Percy, I am not much younger than you (going by your name) and I can't believe how much you're moaning.

No point whinging about this that and the other mate, just take the bull by the horns and get the best out of the situation you're in.

Percy1983

Chris2685 wrote: »

just take the bull by the horns and get the best out of the situation you're in.

Don't worry I am not one of these who moans and does nothing, I am saving money and will be buying my nice 3 bed-semi soon enough.

I do moan more on the basis of many boomers saying how easy us 1980 onwards children have it, yes you can debate many points about it but we are not better off, we haven't got it easy.

Chris2685

No, we haven't. Most older folk I speak to at work or family totally agree that todays generation of school-leavers - 30 year olds have a much harder time economically than they did in the same situations. However, it is not the worst thing in the world. At least World War III didn't start, I am sure I prefer being a bit hard up than having my head blown off

Percy1983

Very true but the boomers weren't shot at either (generally)

ukcarper

I would imagine more people of your generation were (are) shot at than baby boomers

ninky_2

Percy1983 wrote: »

Does anybody consider the social problems house prices are causing?

I and many others aren't having children until we have a house, higher house prices to many mean more saving and basically which leads to having children later. In our case we will be having children in our early 30s if all goes to plan, yet ask the baby boomers and they mostly had there children in there early 20's.

people having children later isn't a social problem really though. people are living longer and having more healthy years. it will actually slow populaton growth down which isn't a bad thing. some like me might decide not to have them at all.