Early Retirement - (nearly) one year on

uk1

Thorsson wrote: »

Was that our generation? I've never believed it and my childen don't believe it either. I thought that view was a bit more recent.

As far as being worse off, I don't know about everyone, all I can do is compare those I know.
What's tougher: 1) Paying to go to Uni rather than being paid; 2) The cost of housing.
What's easier: 1) The cost of mortgages; 2) The support they've had.

I don't really accept that it's harder to get a job - there are a lot more professional jobs now than there used to be. Sure there are a lot of people that get second rate degrees from second rate universities, but back then they were called Technical Colleges and Polytechnics. The majority left school at 15 with no qualifications - they worked their way up because they started at the bottom.

Sure there are challenges these days that we didn't have, such as not being sucked in by the 5 minute celebrity culture, but there are also things that they have happily missed, like houses without a bathroom or an indoor toilet. And Engelbert Humperdinck.

Every generation has its challenges - they're just different.

With respect, you can have a view about whether things are easier for you than for them because you have experience of observing both, but I don't know how you can possibly think that your children can make the same comparison as they did not experience what you experienced. The fact that you cite their opinion to support of your own is in my view telling.

Additonally the major lifetime expnse for us all is housing. Are you suggesting that your children can buy their own property to live in or gain access to social housing post-Thatcher as easily as your generation?

I think not.

michaels

Brod wrote: »

Thank you, you've made me work out that I will be 69 when my youngest is 21.


:shocked::shocked::shocked:

1) Apologies
2) Respect to the max - the thought of coping with a new baby at my age fills me with horror

Thorsson

uk1 wrote: »

With respect, you can have a view about whether things are easier for you than for them because you have experience of observing both, but I don't know how you can possibly think that your children can make the same comparison as they did not experience what you experienced. The fact that you cite their opinion to support of your own is in my view telling.

Additonally the major lifetime expnse for us all is housing. Are you suggesting that your children can buy their own property to live in or gain access to social housing post-Thatcher as easily as your generation?

I think not.

You have mistaken what I said. I quoted one specific part of your post, which was the belief that no-one failed and eveyone was clever, when I was referring to the fact that my children do not believe this. That you jumped to the wrong conclusion is, in my opinion, telling.

As far as gaining access to their own property, well my daughrter has been renting her own property when at her age I was sharing and she will buy her first property at the same age as me. My son will be two years older, but that's largely because he chose to spend most of his money on cameras, drones, phones, expensive holidays, etc. He could have done it as easily two years ago as he is doing it now.

I'm not saying it's as easy for everyone. I don't know everyone. What i know is that now that he and his girlfriend have finally decided to buy, it's actually been a lot easier than it was when I bought my first house.

lisyloo

I grew up in a generation without credit.
If we couldn't afford something we simply didn't have it.
So if for example you couldn't afford a car or driving lessons and there was no public transport then you got a moped to get to work (there were a few snow days when I had to find alternatives but only a handful).

I am wondering how much help is given simply because we CAN and it's not strictly speaking a show stopper.

In my generation in general parents could not give anywhere near the same level of help, but we got on with it and found solutions.


It's probably not allowed anymore but I started an evening job at 13 and delivering papers at 14, a saturday job at 15.


So genuinely asking the question - how much of BOMAD is needed and would be a show stopper (to someone working for example) and how much of it is a matter of choice?. I'm not saying people wouldn't WANT to help their kids, of course they do, I'm just trying to work out how much of it is discretionary.

uk1

Thorsson wrote: »

Y
I'm not saying it's as easy for everyone. I don't know everyone. What i know is that now that he and his girlfriend have finally decided to buy, it's actually been a lot easier than it was when I bought my first house.

https://www.economicshelp.org/blog/5568/housing/uk-house-price-affordability/

MallyGirl

I think housing really depends on where you live.
When I bought my first flat at 24 I could borrow a max of 3 x salary and £42,000 could actually get you something. Interest rate was 14% so 3 x limitation was wise. I worked in Oxford but bought in Didcot because that was affordable. There certainly aren't any flats where I live now that could be afforded on a single '3 years' in graduate salary

MallyGirl

lisyloo wrote: »

It's probably not allowed anymore but I started an evening job at 13 and delivering papers at 14, a saturday job at 15.

I think you can only do a half day if you are under 16 now and it is not worth the employer's bother for that

lisyloo wrote: »

So genuinely asking the question - how much of BOMAD is needed and would be a show stopper (to someone working for example) and how much of it is a matter of choice?. I'm not saying people wouldn't WANT to help their kids, of course they do, I'm just trying to work out how much of it is discretionary.

Almost entirely discretionary. When DD was growing up she needed food, clothes, shelter, access to education and swimming lessons. I chose to give her nicer stuff than she 'needed' but only because I could afford to. Music lessons have been a huge cost but are very much a 'want' not a 'need'. The same with driving lessons.
I have saved the CB for her, even after we stopped actually getting it, and she will get that at 18 to give her choices.

bugslet

uk1 wrote: »

Additonally the major lifetime expnse for us all is housing. Are you suggesting that your children can buy their own property to live in or gain access to social housing post-Thatcher as easily as your generation?

I think not.

I think it depends on where you live and I have said all of this before, save regular readers from reading again.

Both of these houses are five minutes walk from me.

Fancy a doer-upper

https://www.rightmove.co.uk/property-for-sale/property-68699152.html


or move straight in, same road

https://www.rightmove.co.uk/property-for-sale/property-52442601.html


For a first time buy, a terrace is fine. The area is average, you can walk into town centre in ten minutes.

If you wanted something a bit bigger with a decent garden, then you could live within two minutes walk of me.

https://www.rightmove.co.uk/property-for-sale/property-78816896.html


We are 15 minutes from Warrington, 5 minutes from the Liverpool - London line, 20 minutes drive from Liverpool and Chester, 30-35 mins from Manchester,s ot here are lots of employment opportunities. Runcorn doesn't have a great name, but I've lived there for 25 years and it's been fine.

As for jobs, well work for me as a van driver and earn over 30k, which means you could buy the middle house in my links on three times wage of one person.

MallyGirl

whereas locals near me have:
https://www.rightmove.co.uk/property-for-sale/property-67205110.html
with mould on the walls for £125k

or space in someone's loft for £140k:
https://www.rightmove.co.uk/property-for-sale/property-77187293.html

DD wants to go to Liverpool uni so I expect she will never come home again and Runcorn could be just the place.

bugslet

MallyGirl wrote: »

whereas locals near me have:
https://www.rightmove.co.uk/property-for-sale/property-67205110.html
with mould on the walls for £125k

or space in someone's loft for £140k:
https://www.rightmove.co.uk/property-for-sale/property-77187293.html

DD wants to go to Liverpool uni so I expect she will never come home again and Runcorn could be just the place.

:eek::eek::eek:

I really like the communal garden in the last one......wildlife garden is it? ;-)

Runcorn has it's dodgy places, but I live five minutes walk from the canal which is nice to walk down, five minutes from Runcorn Hill plenty of space to walk the dogs, nice parks attached, tennis courts bowling greens, bandstand - with music in summer! - brilliant little theatre. No way is it London, but you pays your price, you takes your choice!