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Yellow jacket freedom fighters spreading to London
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I agree about inheritance but you last paragraph is complete rubbish.
How is it rubbish?
The user I quoted specifically stated most millennials (including 2nd generation immigrants) were well off and had gifts / inheritance to buy houses and that's utter nonsense. Millennials are people born post 1980, generally the parents will be born in the 1950s/1960s, even someone born in 1950 will "only" be 68 this year and can generally expect to live another 9 years+ where they should be enjoying retirement and spending their hard earned money. Don't get me wrong, I was brought up to believe you should save money to buy what you want and if you can't afford it, wait, don't expect it on a plate - but at the same time, if my parents live say 9 years more and don't require any sort of care (and I hope it's much more) I would be at least mid-40s before I had any sort of inheritance that I could use.
Hence why I can see why those younger than me would be attracted by Corbyn's fantasy economics where the rich will somehow pay for everythingSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Has it ever occured to you that the generation before the boomers were around in the war of 39 to 45. They didn't have anything to leave to their children so somewhere in all of this is a generation who worked extremely hard for everything they have. That generation is the one that gave birth to the boomers so boomers didnt inherit much if anything and who are the people moaning now? The ones set to inherity what the boomers worked hard to get. They don't want to work like the boomers did they want to get it all for nothing with no work involved.
The boomers were known as the "me generation" because of their narcissism and self interest. They were born in an era post war and enjoyed many benefits not around today such as jobs for life, guaranteed pay rises, copper bottomed pension plans as well as cheap houses and all we hear from them now is letters to the Daily Heil whinging about "snowflakes" because the young are rightly pointing out that buying a house costs 9-10x average salary and jobs are not guaranteed let alone being able to afford a decent retirement.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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then we wouldn't need quite so many landlords.
Thanks for confirming that you have now realised how silly your original statement was; clearly we do need landlords... QED landlords must do something...Every generation blames the one before...
Mike + The Mechanics - The Living Years0 -
Didn't I say I agreed about inheritance. But your second paragraph just made inaccurate statements then you add that ridiculous pull up the drawbridge statement.How is it rubbish?
The user I quoted specifically stated most millennials (including 2nd generation immigrants) were well off and had gifts / inheritance to buy houses and that's utter nonsense. Millennials are people born post 1980, generally the parents will be born in the 1950s/1960s, even someone born in 1950 will "only" be 68 this year and can generally expect to live another 9 years+ where they should be enjoying retirement and spending their hard earned money. Don't get me wrong, I was brought up to believe you should save money to buy what you want and if you can't afford it, wait, don't expect it on a plate - but at the same time, if my parents live say 9 years more and don't require any sort of care (and I hope it's much more) I would be at least mid-40s before I had any sort of inheritance that I could use.
Hence why I can see why those younger than me would be attracted by Corbyn's fantasy economics where the rich will somehow pay for everything0 -
Another ridiculous statement you had better do some research and see what it was really like for boomers. You do know that in 70s house price inflation was rampant and price were almost as high in relation to earning as they are now.The boomers were known as the "me generation" because of their narcissism and self interest. They were born in an era post war and enjoyed many benefits not around today such as jobs for life, guaranteed pay rises, copper bottomed pension plans as well as cheap houses and all we hear from them now is letters to the Daily Heil whinging about "snowflakes" because the young are rightly pointing out that buying a house costs 9-10x average salary and jobs are not guaranteed let alone being able to afford a decent retirement.0 -
even someone born in 1950 will "only" be 68 this year and can generally expect to live another 9 years+ where they should be enjoying retirement and spending their hard earned money.
Enjoying retirement, spending their hard earned money and doing some Inheritance Tax planning.
If you have capital that you're never going to spend and will eventually pass to your heirs in 9 years time, then it makes much more sense to give it to them now and get them on the housing ladder. It's tax-efficient and you get the pleasure of watching them enjoy it.
This, of course, is exactly what millions of people do. Your children wanting to get on the housing ladder is a watershed moment in Inheritance Tax planning. If you advance part of their inheritance at 20 or 25 they might just blow the lot and make both of you miserable. If they ask you for money to buy a house at 30 or 35, you can almost guarantee the money isn't going to be squandered.
If someone has enough money that they're not going to spend it all and plan to leave some of it to their heirs, then ipso facto they have enough money to give away. To them it makes no difference whether they give it away now or on their death, either way they don't plan on spending it. The main difference is that giving it away now is more tax-efficient and you get to enjoy watching the recipient benefit. Even if it's all tied up in their house they can use equity release. (Equity release is usually a bad idea and I don't recommend it, but for the purposes of this discussion, anyone who has money to leave to heirs in 9+ years has money to give to them now.)
Anyone can say "but they might need that money for care or they might suddenly decide to buy a jetski" but tens of thousands of people die in the UK every year leaving significant amounts to their heirs, having not spent all of it on their brief sojourn in a care home or jetskis.
If the parents plan to spend all their money and leave nothing except the proverbial bounced cheque for their funeral expenses, then their heirs will not be expecting any money either now or in 9 years, so they don't enter this discussion. The point is that if an inheritance is a possibility, then the parents' age is irrelevant. If the heirs have a reasonable possibility of receiving help through inheritance, they have a reasonable possibility of receiving help during their parents' lifetime.
9 year average remaining lifespan means no time like the present. Wait any longer and it's more likely than not that any gifts will fall back into the estate.0 -
Update from London: sat next to a woman with a mustard coloured winter coat this morning on the Tube (on trend colour this season apparently), but that's it for yellow-jacketed rioting round these parts.They are an EYESORES!!!!0
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Out,_Vile_Jelly wrote: »Update from London: sat next to a woman with a mustard coloured winter coat this morning on the Tube (on trend colour this season apparently), but that's it for yellow-jacketed rioting round these parts.
The V for Vendetta masks are much more symbolic anyway.
£6.99 + post, in case anybody is wondering.... !0 -
Clifford_Pope wrote: »Why are they called "yellow" jackets?
Am I the only person who sees them as light green?
Isn't 'yellow jackets' a popular name for insects of some sort, anyway (like leatherjackets)? :think: :xmastree:
Update: yes, indeed, 'yellow jackets' are wasps or hornets (OED). That includes parasitic wasps.0 -
The yellow jacket freedom fighters movement is spreading around Europe.
Could we have another 2011 all over again?
Boris water cannon tanks hve been dismantled they thought they would not need them again:rotfl:
The majority are unhappy about high rents and property prices, the people could demand the government a million affordable homes to be added to the supply every year from now on.
Whichever party offers to sort out the housing crisis will get the most votes
How to make your own tear gasmask
https://www.instructables.com/id/DIY-Gas-Mask/
How can you be so wrong for so long and still keep hitting your head on a brick wall?
The majority inherit housing or equivalent wealth. You dont get much more affordable than free
And the majority who dont inherit or cant afford get given a free social house.0
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