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"better staying put for say 12-18 months to try to get a deposit on a cheap property"
I'd love to know where you can get a property in the UK after 12 months saving on minimum wage, which is what most young people earn from their first job.
Even assuming every single penny earned went into the deposit pot, you still wouldn't have enough in that time. And of course that's in a completely idealistic scenario.
Bumblebee
Many people I know don't fully retire and work a few days a week doings work in a business they enjoy without doubt this is the way things are going...
Mum's bank mortgage plc
Provide a starter house for many young ones leaving the nest and the house market not going down anytime soon rates are still very low..
Falky,
True, but my point was really to say that if say your son wanted to move out and going into rented he would be better staying put for say 12-18 months to try to get a deposit on a cheap property.
Also long term if your renting when you retire you obviously have to have sufficient pension income to furnish the rent and any potential rises.
Normally when you retire the mortgage has gone and you not longer have to have this income coming in.
Ah skier1 how nice to of you to stop by with your "facts" backed up with zero evidence, as per...
Renting really is a mugs game and IMO should be avoided wherever possible but obviously that's not always possible.
Like any debt, finance or rent it is only serviceable whilst your earning that particular income.
I know it's not this easy but the "fashion" for finance should be frowned upon and saving again should be encouraged.
I will await the vitriol.
Skier rent in germany
In England many like me own their own house and only pay the going rate of bills I like it that way! In retirement I can spend spend spend atb
Skier , Lloyds Banking on it that's why they entered the rental market big time imho
To be fair, a few drinks and a couple hours at the lappy can quickly rack up to 2 or 300 quid.
Around 50-60% of people in Germany rent their home. Germany is much richer than the UK. No dramas.
UK real disposable income per household has more than tripled in the past 50 years.
Mach,
Haven't got time or the inclination to argue with you.
We're both right to a degree but the MAJORITY are somewhere in the middle!
Bumble
It's not lifestyle choices, it's simply a case of wages not keeping up with inflation. The purchasing power of the average wage has vastly diminished in the last 4 decades.
A TV, a mobile, a night out, these are hardly decadences. These are things everyone has had and done for decades. And I can assure you, people spending £200 on a night out are not the same people that cannot afford a house. I personally don't know anyone that spends that much on a night out, for my social circle £100 at the weekend is a lot. Even so, not doing that every once in a while won't magically afford you a house.
Even if (and it's a big if) someone spent £100 every weekend on a night out, they would have to save for nigh on half a decade to just afford a deposit on a one bedroom house.
Saying it's "lifestyle choices" really is naive at best and completely ignorent at worst. It's also completely anecdotal as you have absolutely no evidence to back up the claim that young people are worse with money now than they were 40 years ago.
It's just more "back in my day" crap.
In the 60's one didn't know they were poor everybody happy , the majority. Liberal Labour Conservative nowadays ~ money .
None of the above .
Plato,
Unfortunately that's the way of the world.
There will never be a perfect system, all you can do is try to help the majority, you will never cure all the issues in society.
Mach,
Lifestyle choices!
How many people have no money but have new cars, 65" TV on the wall, 2 lovely (expensive) holidays a year, latest iPhone whatever.....
Everything on credit...
I was taught from an early age NEVER to touch finance....
Also yes not everyone can afford to buy a house but before I retired I worked for a major international company, the youngsters used to start there on crazy money which I certainly wasn't getting when I was there age! But they just spend spend spend, living at home with mum and dad, £30,000 cars, £200 on a night out and then they said they couldn't afford to buy a house?
Just a question of priorities!
But I realise there's say a nurse, living near St.Albans who hasn't got a hope.
Financial planning is absolutely meaningless if it's impossible to save any amount of money. Once you remove rent, food, energy, utilities, occasional social activities - most people have nothing left.
The majority of this country has no savings and lives paycheck to paycheck. Nobody WANTS to live that way, but when wages are **** and everything is expensive, you don't have much choice in the matter.
Plato,
I'm not having a pop at you but that's one of the major problems with this country in that financial planning SHOULD be taught at school, from the age of say 15.
People leave school and have little or no financial guidance, some of the parents are "feckless"
Anyway sorry for your loss but it was your decision to take those investments.
Plato,
You state your 39 and do not own your own property, can I ask why?
I apologise if I've missed something!
What about Chernobyl?
Fukushima?
Wow and I bet they should all be singing the blues
Global warming we live in the U K !
9 months of winter 3 months of bad weather .
"Maybe it's not quite like that. However, there is no need to demonise fossil fuels. Any well-educated (and broad minded) scientist will tell you there are many other major causes of climate change."
No, not quite like that. Agree there are other causes Plato. But reducing fossil fuel usage is necessary to mitigate the worst of what is to come. I am not for demonising oil companies either (have a few shares in Shell) because they are key players in the energy transition and also need to supply lesser amounts to future generations. Its not all about us is it?
UK needs to construct 50 more nuclear power stations, asap.
Nucular power is way safer than oil, coal and gas.
Coal mines alone kill 1 million people worldwide every single year.
Nuclear = zero.
Plato
you can eat for free too
Mystery shop your local shops and restaurants and pubs ,its great paid to eat and buy food
just fill in form with few photos
there is many ways to protect your wealth
You are welcome
Love & Light
Chips
Plato
just put on extra layers on this winter ,
sometimes worth eating out , saves on cooking costs
or cheap holiday abroad halve board
love & light
chips
LTI
Smoke and Mirrors
Love & Light
Chips