Something that doesn't seem to get mentioned

FTBFun

ILW wrote: »

Or blow your inheritance on world cruises and flash cars.

What do you mean "blow?"

pqrdef

Snooze wrote: »

If you can use a computer now then you'll still be able to use a computer when you're 65, 70, 80, whatever.

One of the stranger paradoxes of life is the way old age takes us by surprise, even though we've had so many years to figure out what to expect.

pineapple

pqrdef wrote: »

This has got to be a joke?

What's changed is that lifestyle expectations have risen faster than incomes. People now regard as essential many things that people didn't used to buy.

At risk of sounding like the old fogey that I am, I remember a time when people didn't have fridges, CH, washing machines, mobiles, TV even. When things were worn and mended and worn and worn till they fell apart. And you were well off if you had a car.
The problem is that we have a whole generation which never experienced this. We are going to have to 're-trench'. And it is going to be difficult. But there are parts of the world where people have to struggle just to get water and food to survive. We should think on that.

Percy1983

ukcarper wrote: »

If you look at this average house price to average earnings graph you will see it goes up and down like a yo-yo so it depends when you buy and a few years either way can make a big difference.

I wouldn't say you are wrong, but the range of said yo-yo does appear to have changed.

pineapple

I don't expect sympathy because I feel for those unable to buy a home. But I struggled and struggled to buy mine. I did without holidays, new clothes and sometimes food. At the age of 61 I just managed to pay off the mortgage. I have income (employers and state pension) of just under £1000 per month and a few thousand as emergency reserve. I would still be working if I was in better health. My home was going to be my retirement fund. Guess I bet and lost eh?

Snooze

pqrdef wrote: »

One of the stranger paradoxes of life is the way old age takes us by surprise, even though we've had so many years to figure out what to expect.

That is true, hence why I say to spend it while you can rather than hoarding it for "a rainy day" and then be too knackered/ill/whatever to care.:D

ukcarper

Percy1983 wrote: »

I wouldn't say you are wrong, but the range of said yo-yo does appear to have changed.

Property in early 70s and late 80s were same as now but never got as high as the peak of last boom. Let me give you my example I bought in 72 big struggle to get a 3-bed terrace 20 miles from work. Today I would not be able to buy house using lending criteria in force at time but might just manage it with today’s. I bought in April and if I hadn’t managed to buy then it would have been a long time before I could as by the end of year houses prices on same development had increased by 25%.

StevieJ

pineapple wrote: »

At risk of sounding like the old fogey that I am, I remember a time when people didn't have fridges, CH, washing machines, mobiles, TV even. When things were worn and mended and worn and worn till they fell apart. And you were well off if you had a car.

But we wer appy

ruggedtoast

Standards of living are falling, there is no doubt about that.

In the last 3 years I have received one 0.5% pay rise yet the cost of everything except debt, has rocketed.

It has slowly started dawning on me that I need to work even harder, skill up in various ways, and jump another rung up the career ladder just to get back to the purchasing power I had 3 years ago. Back then I could fill up the car without worrying about when I had last done it, go to the supermarket and not look in amazement at the cost of everything, and reasonably expect one holiday a year.

Back then I also didnt realise that my savings were to rapidly be made worthless.

It has also started dawning on me that this is now becoming normal, for most people. We arent getting richer, we're getting poorer. Its looking likely that Generation X will be the first post war generation to be worse off than their parents.

Like Graham I am now waiting for some idiot to point out that an iphone contract still costs £35 a month so I shouldnt complain.

Thrugelmir

pineapple wrote: »

I would still be working if I was in better health.

Something many of us underestimate in our younger years. In later life I've known many people give up good well paid careers on medical grounds. Better to be prepared ahead. Then anything else can be taken as a bonus.