Inter generational fairness

autumn2012_2

Im 23 - self employed (tiny income) homeowner, worked since I was 15. We struggle. Got ourselves into debt at age 18 and paying for it now. I dont think some older people realise just how hard it is! By the time you pay for your car, petrol, insurance, childcare, higher housing costs etc your both working full time for practically nothing at the end of it. No pensions etc - cant even think that far ahead. The young (<25) have it tough, no state support (or very little) - get screwed by governments as we dont vote (apparently). Then we hear it - we didnt have it easy in our day... Where 1 wage would keep a family. Modern families have hardly any family time and demanding jobs - work work work all the time and its incredibly stressful. Im not saying that in the 70s80s things were fantastic but atleast boomers benefitted from cheap housing - my MIL house was 17k now worth 140K.. Thats a nice little retirement pot - todays housing you couldnt get that return.

ruggedtoast

mwpt wrote: »

I'm not, the system need changing.

But it works both ways. On here it is extremely common to call today's youth lazy, unwilling to save, won't vote, own fault for brexit etc. If it is acceptable to do that (and it's not) then why isn't it acceptable for ruggedtoast to call the boomer generation selfish (again, not something I engage in).

I think its something to do with standards and having more than one set of them.

HornetSaver

ruggedtoast wrote: »

I think its something to do with standards and having more than one set of them.

Indeed. For example, if you receive working tax credits, child tax credits, tax relief or a state pension, you are a benefit recipient. You can argue all you like about whether or not you deserve any of those things; right or wrong, you remain a benefit recipient.

autumn2012_2

You could say that about if you use the NHS or send your kids to a state school. Its part of a fair society... We collectively give to the government who is supposed to distribute the money to the relevant causes.

Houseplant26

I do think the rental market is damaging to the available house stock. I do feel a bit sad about the fact there are lots of buy to let landlords who own multiple properties. If I was in charge I wouldn't allow people to own more than 2 or 3 properties but that's just me. We pay a LOT in rent to a buy to let landlord who owns a significant chunk of my city and this does impact on my and my partners ability to get on the property ladder. This won't be for some time but I'd be happy with a flat as a starter home, and or a love more north. I don't feel I need a lot of 'space' or a lot of stuff, we don't need more than 2 bedrooms and only then is that so we could accommodate a child one day, if we decide to, without having to move.

Houseplant26

autumn2012 wrote: »

Im 23 - self employed (tiny income) homeowner, worked since I was 15. We struggle. Got ourselves into debt at age 18 and paying for it now. I dont think some older people realise just how hard it is! By the time you pay for your car, petrol, insurance, childcare, higher housing costs etc your both working full time for practically nothing at the end of it. No pensions etc - cant even think that far ahead. The young (<25) have it tough, no state support (or very little) - get screwed by governments as we dont vote (apparently). Then we hear it - we didnt have it easy in our day... Where 1 wage would keep a family. Modern families have hardly any family time and demanding jobs - work work work all the time and its incredibly stressful. Im not saying that in the 70s80s things were fantastic but atleast boomers benefitted from cheap housing - my MIL house was 17k now worth 140K.. Thats a nice little retirement pot - todays housing you couldnt get that return.

Well said! I don't have kids, or a car, not meaning to compare them! I genuinely don't know how people on what I earn do it.

Thrugelmir

autumn2012 wrote: »

Im 23 - self employed (tiny income) homeowner, worked since I was 15. We struggle. Got ourselves into debt at age 18 and paying for it now. I dont think some older people realise just how hard it is! By the time you pay for your car, petrol, insurance, childcare, higher housing costs etc your both working full time for practically nothing at the end of it. No pensions etc - cant even think that far ahead. The young (<25) have it tough, no state support (or very little) - get screwed by governments as we dont vote (apparently). Then we hear it - we didnt have it easy in our day... Where 1 wage would keep a family. Modern families have hardly any family time and demanding jobs - work work work all the time and its incredibly stressful. Im not saying that in the 70s80s things were fantastic but atleast boomers benefitted from cheap housing - my MIL house was 17k now worth 140K.. Thats a nice little retirement pot - todays housing you couldnt get that return.

What makes you think that you are any different to previous generations? There was far less state support some decades ago too. You really don't realise how much better off you are today in terms of standard of living.

My first job was at 12. I used to work 9 hours on a petrol forecourt. During the summer holidays I cleaned cars that come off the transporters up to showroom condition. I made my own luck. I was never bitter towards those that had more. Why should I be, I knew people that had far less.

autumn2012_2

Thrugelmir wrote: »

What makes you think that you are any different to previous generations? There was far less state support some decades ago too. You really don't realise how much better off you are today in terms of standard of living.

My first job was at 12. I used to work 9 hours on a petrol forecourt. During the summer holidays I cleaned cars that come off the transporters up to showroom condition. I made my own luck. I was never bitter towards those that had more. Why should I be, I knew people that had far less.

There is laws against that nowadays. Standard of Living? Having nothing left at the end of the month? Watching what shopping you buy and buying cheap food constantly? Yes some of us have the high life! Whilst some people are paying over inflated rents filling the boomers pension pots. Its common knowledge that boomers have had it better than millenials yet they just wont accept it.

Cakeguts

Houseplant26 wrote: »

Well this has been an interesting read as a 26year old (who does not have 100k saved, more like £100).

I decided to work hard in school. I got straight As and then a first class degree. In a subject that doesn't land you a well paying job. I did it because I loved it and it fitted in with things I value about society and the world. I earn below average and pay around half my salary straight into rent and bills, before buying any food etc. I'm from a lower class to middle class family. Parents live in a rural area, some towns within a commuting distance but limited job prospects.

I valued broadening my mind and gaining independence more than staying at home and saving in a entry level job. It wouldn't have occurred to me to expect my parents to support me and keep housing me and feeding me until 26!!!! They couldn't have afforded to!

They do have some equity in a house which one day I may see some of. I am unlikely to get any inheritance from grandparents, one set died before I was 5 (their money helped my parents buy) and their are family politics at play with the other.

I think it is unfair to expect people to only study certain professions at certain universities, or that only those who do will stand a chance of earning. I also think nurses, charity workers, social workers, police, fireman, ambulance workers and those working in education, arts and cultural sectors should be paid more.

Interested that this thread makes no references to those with disabilities. Also interesting the talk about 'a woman' and how her life involves having babies then giving up work until this age and then this happening..... Made me laugh!!! I had a stay at home dad then a stay at home, my parents have both had times employed and times not times earning minimum wage and times not. I feel more well rounded for this.

Ps I owe no money to anyone apart from student finance. I don't buy fancy gadgets, have a car, go on lots of holidays.

I think you would be looking at university education in a different way if you had worked hard at school and got straight Cs and then got into a university and got a degree that led to stacking shelves in a supermarket. There isn't anything wrong with doing this it is a job and someone has to do it but some people don't realise that not all degrees lead to a better job than not having a degree.

You can broaden your education by reading books in your local library you don't have to pay someone else to educate you.

ukcarper

autumn2012 wrote: »

There is laws against that nowadays. Standard of Living? Having nothing left at the end of the month? Watching what shopping you buy and buying cheap food constantly? Yes some of us have the high life! Whilst some people are paying over inflated rents filling the boomers pension pots. Its common knowledge that boomers have had it better than millenials yet they just wont accept it.

To be honest it's to early to tell how Millenials will fair. It's not common knowledge that boomers had it better things were different in the 60s and 70s somethings were better some worse, most things are considerably cheaper now with the exception of housing which has varied considerable over the last 50 years. When I first bought prices in relation to earning were just under 5x compared to just ove 6x now, but you could borrow less and interest rates were higher.