1.6m people aged 20-40 'living with parents'

System

DebtClearer wrote: »

I've moved home temporarily for now, I'm 25. Just mainly to sort my finances out a bit.

Before this though I moved out for uni when I was 18 and never looked back. If people like living at home then why does it matter? It would mean less people getting in to debt and struggling to survive. You can still be an idependant adult and live at home, though obviously no one would want to forever!

Agreed, the snobbery about this sort of stuff irritates me. (Not on here just generally). Theres people out there that seem to think they run some sort of rulebook on when someone has to pass their driving test, has to leave home, has to "settle down" with kids. It's ridiculous. I like my own place and space personally but if someone still loves living at home and the parent(s) are happy with him her/him being there then who cares what the age is?

YoungBusinessman

Im 21 and looking to buy early next year. Either that or rent next month and buy in 6 months.

**** living at home much longer, 21 is old enough!!

Loughton_Monkey

mystic_trev wrote: »

I'm not so sure Loughton, they won't benefit from the rapid increase in inflation through the 70's and 80's we had. This had the benefit of discounting House Prices.

That's a difficult one! I'm trying to imagine whether or not I 'benefited' by mega inflation. I recall that working for a FTSE 100 company meant I got 'reasonable' pay rises, but certainly not as much as full inflation. I would suggest that it was at least 3 or 4 percentage points lower - not too different from the current pay freezes against 3% or so inflation.

All I can say is that if I hadn't owned a house throughout the high inflation period, I would have been significantly poorer.

mystic_trev wrote: »

I started work around the same time as you, late 1972. I worked for Post Office Telephones, now BT, earning the princely sum £600 a year:rotfl:. It was dull and I left after a year getting a Job in London.I didn't buy my first house until 1982, aged 28 for £34,000 with a 25% deposit, which I sold 5 years later for twice the price, moving steadily up the 'Ladder'.My bit of 'luck' was being able to retire at 42 thanks to the proceeds of an MBO. Few people would be lucky to achieve that.

Never looked back

Brilliant! I know a couple of ex BT people who took a very generous early retirement package.

I took redundancy 3 times. Rather perversely, the redundancy money - although very generous - is (with hindsight) peanuts compared to the other advantage - that of forcing me to seek new employment. In every case, I was able to ply my skills elsewhere with something in the order of 25% to 40% more salary.

Even more lucrative, though, was the negotiation that the new employer should 'take over' my final salary pension rights as full "years". This worked up to my 3rd employer, who had the 'benefit' of only 6 years of my labour, but had to shell out 21 years worth of FS pension! Actuarial calculations (again with hindsight) prove that this cost them - over those 6 years - in the order of double what they paid me in salary.

Such negotiations would fail miserably these days, sadly.

From my 4th employer, and onwards, I worked on a "contract" basis. Extremely lucrative in 'cash' terms but had to provide my own pension arrangements - but at 40% tax relief, this was no hardship.

Percy1983

carralegend wrote: »

Agreed, the snobbery about this sort of stuff irritates me. (Not on here just generally). Theres people out there that seem to think they run some sort of rulebook on when someone has to pass their driving test, has to leave home, has to "settle down" with kids. It's ridiculous. I like my own place and space personally but if someone still loves living at home and the parent(s) are happy with him her/him being there then who cares what the age is?

Do you not know if you do things differently to some members on here you are doing it wrong, its that simple.

YoungBusinessman wrote: »

Im 21 and looking to buy early next year. Either that or rent next month and buy in 6 months.

**** living at home much longer, 21 is old enough!!

Interesting, you seem to have a strong urge to get out, if you don't mind me asking why are you so unhappy?