The generation poorer than their parents

ILW

StevieJ wrote: »

That raises a very interesting question, would you accept being worse off than you are at the moment, providing you were better off than everyone else? Is financial satsfaction merely a relative concept?

Read Status Envy by Alan de Botton.

We are only fed up when those relatively close appear better off then we are. Nobody gets vexed when David Beckham buys a Ferrari, but most get a sinking feeling when their next door neighbour or an old school friend get a car that is a level or two above their own.

Road_Hog

Percy1983 wrote: »

Just an interesting article really, I really can see the points made and wonder at exactly what point will it all boil over.



"Let's take my own house [which] I bought 16 years ago for £160,000. It's in south-east London. It's now worth about £1.15m.

"So I've gained a million pound windfall to which I do not feel entitled, and that windfall, at the moment, is tax-free. Were I to sell [the house], there's no tax on that gain."

http://www.bbc.co.uk/news/business-14294021

Don't be fooled by that article. That is just BBC left wing propaganda, they do it all the time when they're trying to promote something. It is just a ruse to try and take more tax from you.

Why should you pay tax on owning a home, why should you pay tax every time you want to move and buy a new home?

I bought a house 17 years ago and it certainly hasn't gone up 7 times in value, where did they find this bloke?

I hope they're going to give tax money back when houses go down in value or people lose their homes.

DervProf

ILW wrote: »

Read Status Envy by Alan de Botton.

We are only fed up when those relatively close appear better off then we are. Nobody gets vexed when David Beckham buys a Ferrari, but most get a sinking feeling when their next door neighbour or an old school friend get a car that is a level or two above their own.

Some forum members seem to hope that other forum members get vexed when they state they have a house or possessions that are a level or two above theirs. Better still if the person they are trying to vex does not have a home or is in rented accommodation. Although I no longer am envious of anyone, I can understand and sympathise with that emotion. I can't sympathise with anyone who tries to make others envious, I only feel pity and disrespect towards them.

edinburgher

I bought a house 17 years ago and it certainly hasn't gone up 7 times in value

Maybe you bought the wrong house?

Anyway, the chap mentioned did spend £160k on his house 16 years ago - that was still a lot for most people, wasn't it? According to a historic inflation calculator, that's the equivalent of £240k now.

According to the BBC website, average salaries in London in 1995 were £22,830, so his house was already pretty expensive.

ukcarper

edinburgher wrote: »

Maybe you bought the wrong house?

Anyway, the chap mentioned did spend £160k on his house 16 years ago - that was still a lot for most people, wasn't it? According to a historic inflation calculator, that's the equivalent of £240k now.

According to the BBC website, average salaries in London in 1995 were £22,830, so his house was already pretty expensive.

Maybe he did maybe he didn’t but the average house only increased 3x since then. In London as a whole they are about 3.7x.

Percy1983

ILW wrote: »

Read Status Envy by Alan de Botton.

We are only fed up when those relatively close appear better off then we are. Nobody gets vexed when David Beckham buys a Ferrari, but most get a sinking feeling when their next door neighbour or an old school friend get a car that is a level or two above their own.

I must say when I stopped playing 'keeping up with the Joneses' my life got so much better, I can see through it all these days.

Ie, I have a Ford Focus 1.6 Ghia and a school friend has a Focus ST.

So at first it would seem he is far ahead of me then I look at the facts, my car is paid for in full he has finance outstanding, he does earn more but he does long hours and shift work and hardly sees his children, I work 9-5 mon-fri and will see my children (when I have them).

So who is the real winner? the simple answer is neither as we have just chosen different paths, but it shows that the surface may show success but what is behind it all isn't always what you would think.

Generali

geneer wrote: »

Of course as everyone and there dog now has access to the internet, its clear that we're much better of than say a medieval king.

or not.

Good point. I'll do a poll.

DervProf

Percy1983 wrote: »

I must say when I stopped playing 'keeping up with the Joneses' my life got so much better, I can see through it all these days.

Ie, I have a Ford Focus 1.6 Ghia and a school friend has a Focus ST.

So at first it would seem he is far ahead of me then I look at the facts, my car is paid for in full he has finance outstanding, he does earn more but he does long hours and shift work and hardly sees his children, I work 9-5 mon-fri and will see my children (when I have them).

So who is the real winner? the simple answer is neither as we have just chosen different paths, but it shows that the surface may show success but what is behind it all isn't always what you would think.

Some people will say they aren't bothered by other's success, just to cover up their jealousy. I used to be slightly jealous of those who had better cars, computers, houses etc. Quite a while back I got to a point where I was happy with what I have got (and it certainly isn't a luxurious lifestyle), everything is paid for and I can afford to buy stuff if I want/need it. It's OK living the high life, but for most people that requires hard work or is done by getting into debt. Fine if you want to live your life like that, but not all of us are bothered by having an iPhone4 and a BMW 5 series. Don't get me wrong, I wouldn't mind those things, but I don't really want them, and can live quite happily without them, knowing that I don't need to earn a fortune to buy/run them.

edinburgher

I wouldn't mind those things, but I don't really want them, and can live quite happily without them, knowing that I don't need to earn a fortune to buy/run them.

My sentiments exactly - I like the odd gadget, but where something seems like an expensive catchpenny I'll usually save the money as I don't plan on working forever

DervProf

edinburgher wrote: »

I like the odd gadget

Me too. I get a lot of pleasure out of being able to afford "gadgets", but not being so wealthy that I can justify buying top of the range everything. When I buy something, I like to spend time choosing something that fits my requirements, but won't cost too much. And when I do get that item I enjoy it more, knowing that it didn't cost a fortune and it was good value for money.