If you weren't a boomer with cash in the 80s, 90s forget it

[GoldKiller]

Being rich doesnt have much to do with income, its about wealth. In the modern UK there isnt much connection between income and wealth - the extreme rises in house prices since 1990 mean that people from the older generation (who are 40+) are typically sitting on very large amounts of net worth even if they had fairly modest jobs and salaries - its not uncommon to find people who worked as nurses/teachers/etc their whole lives and now own £1m+ of housing. In contrast, a young person today will struggle to accumulate net worth (and housing) even if they have a high salary, because the goal posts have moved.

Realistically, someone earning £60k/year today will probably never be rich (and wont even be able to afford a house in London), while someone 20 years older who earned £30k all their life (adjusting for inflation) will have lived quite comfortably due to how much cheaper everything was. When your parents were young, it was very common for a family to have a single working father earning a modest salary and a stay-at-home mother, and be very comfortable. That is absolutely not the case today (at least without government benefits, which are substantial)

This is why comparing yourself to your parents doesnt make much sense because you are going to be a lot poorer than them even if you have the same job and salary - housing costs are several orders of magnitude higher than they were for previous generations, while most adult living costs (rent, childcare, schooling, etc) are much more expensive.

These days, if you have a family and want to have a vaguely middle class life in London (2 kids, a part-time or stay-at-home mother, and a reasonable school for your children) then I would say the absolute minimum you would need to earn is £100k.and even that would be a struggle - you wont be in poverty but there will be very few luxuries. In contrast, someone from your parents generation would probably have got by on £40k or so since the housing costs were so much lower.

After you go north of Cambridge things get better, and you can probably live a middle class life on £40-50k or so.

Those salary numbers are just to have a traditional middle class life. To be wealthy youre looking at £300k+ (London) or maybe £100k+ (non-London)

 

[Vermilioncore]

Dn rd
Too long shorten it or at least add a TLDR

 

[Deleted member 18603]

everyone knows boomers are vampires usurping their subsequent gens resources at this point

 

[Deleted member 20327]

 

[Deleted member 4362]

I agree, uk is a shit place & even shitter if u ain’t got an old man

 

[Deleted member 4362]

Dn rd
Too long shorten it or at least add a TLDR

Cope

 

[Deleted member 4362]

@Predeterminism @PrinceLuenLeoncur its over

 

[Vermilioncore]

Cope

Suck this dick how bout dahh

 

[Deleted member 18244]

Fuck that. It was over the moment you weren’t born as a some type of duke in Acquitane or high medieval france at the very worst.

I want that castle and servants shit

 

[Deleted member 18603]

this is a boomer

 

[Deleted member 17829]

I would say the absolute minimum you would need to earn is £100k

such a cap

wtf do u retards spend ur money on

i even heard some guy on here saying u need 4k per month to live a decent life in the fuckin gphillipines

you are all clinically retarded

 

[Deleted member 17829]

but the other parts very very true

 

[PrinceLuenLeoncur]

Being rich doesnt have much to do with income, its about wealth. In the modern UK there isnt much connection between income and wealth - the extreme rises in house prices since 1990 mean that people from the older generation (who are 40+) are typically sitting on very large amounts of net worth even if they had fairly modest jobs and salaries - its not uncommon to find people who worked as nurses/teachers/etc their whole lives and now own £1m+ of housing. In contrast, a young person today will struggle to accumulate net worth (and housing) even if they have a high salary, because the goal posts have moved.

Realistically, someone earning £60k/year today will probably never be rich (and wont even be able to afford a house in London), while someone 20 years older who earned £30k all their life (adjusting for inflation) will have lived quite comfortably due to how much cheaper everything was. When your parents were young, it was very common for a family to have a single working father earning a modest salary and a stay-at-home mother, and be very comfortable. That is absolutely not the case today (at least without government benefits, which are substantial)

This is why comparing yourself to your parents doesnt make much sense because you are going to be a lot poorer than them even if you have the same job and salary - housing costs are several orders of magnitude higher than they were for previous generations, while most adult living costs (rent, childcare, schooling, etc) are much more expensive.

These days, if you have a family and want to have a vaguely middle class life in London (2 kids, a part-time or stay-at-home mother, and a reasonable school for your children) then I would say the absolute minimum you would need to earn is £100k.and even that would be a struggle - you wont be in poverty but there will be very few luxuries. In contrast, someone from your parents generation would probably have got by on £40k or so since the housing costs were so much lower.

After you go north of Cambridge things get better, and you can probably live a middle class life on £40-50k or so.

Those salary numbers are just to have a traditional middle class life. To be wealthy youre looking at £300k+ (London) or maybe £100k+ (non-London)

Hence why I’d never move to London

 

[FailedNormieManlet]

brutal but true, I have a feeling the dominos will fall and this shit will collapse in a few decades. People are getting tired of this shit

 

[Detona]

You are a 18 year old little BITCH living in mommy's basement in Colorado, ya have no idea what the real world is like.

(This post was directed at Predeterminism)

 

[Detona]

Being rich doesnt have much to do with income, its about wealth. In the modern UK there isnt much connection between income and wealth - the extreme rises in house prices since 1990 mean that people from the older generation (who are 40+) are typically sitting on very large amounts of net worth even if they had fairly modest jobs and salaries - its not uncommon to find people who worked as nurses/teachers/etc their whole lives and now own £1m+ of housing. In contrast, a young person today will struggle to accumulate net worth (and housing) even if they have a high salary, because the goal posts have moved.

Realistically, someone earning £60k/year today will probably never be rich (and wont even be able to afford a house in London), while someone 20 years older who earned £30k all their life (adjusting for inflation) will have lived quite comfortably due to how much cheaper everything was. When your parents were young, it was very common for a family to have a single working father earning a modest salary and a stay-at-home mother, and be very comfortable. That is absolutely not the case today (at least without government benefits, which are substantial)

This is why comparing yourself to your parents doesnt make much sense because you are going to be a lot poorer than them even if you have the same job and salary - housing costs are several orders of magnitude higher than they were for previous generations, while most adult living costs (rent, childcare, schooling, etc) are much more expensive.

These days, if you have a family and want to have a vaguely middle class life in London (2 kids, a part-time or stay-at-home mother, and a reasonable school for your children) then I would say the absolute minimum you would need to earn is £100k.and even that would be a struggle - you wont be in poverty but there will be very few luxuries. In contrast, someone from your parents generation would probably have got by on £40k or so since the housing costs were so much lower.

After you go north of Cambridge things get better, and you can probably live a middle class life on £40-50k or so.

Those salary numbers are just to have a traditional middle class life. To be wealthy youre looking at £300k+ (London) or maybe £100k+ (non-London)

So fucking true.

I want to grind these little boomer shits in to fly ash. They inherited the world and destroyed it in exchange for booze and Micky D's.

 

[OldRooster]

Mostly true. What you leave out though is that a lot of millennials and younger will inherit a lot more wealth than their Boomer parents did.

 

[thereallegend]

brutal but true, I have a feeling the dominos will fall and this shit will collapse in a few decades. People are getting tired of this shit

We need communism

 

[thereallegend]

Mostly true. What you leave out though is that a lot of millennials and younger will inherit a lot more wealth than their Boomer parents did.

But life expectancy's increasing

 

[FailedNormieManlet]

We need communism

I think we will end up with it, but it won't be good. We will lose more of our freedoms and be forced to live in pods

 

[thereallegend]

I think we will end up with it, but it won't be good. We will lose more of our freedoms and be forced to live in pods

Economic freedom is what matters

there4, communism

 

[GoldKiller]

So many low IQ comments

Mostly true. What you leave out though is that a lot of millennials and younger will inherit a lot more wealth than their Boomer parents did.

not with 40% inheritance tax. Most property schemes now are for people on good salaries but don't have the huge deposit for. The bank will lend you 4x your salary. You need to be making 150k at least in my city to buy somewhere unless your boomer parents give you it

 

[OldRooster]

But life expectancy's increasing

no it's not currently increasing. But it did increase a lot from 1960 to 2015.
So I guess your point is that people live to 80 now (as opposed to dying at 60 for those born in 1920), so that their children will not inherit their wealth till they are 50, too late to enjoy it?

not with 40% inheritance tax

The 40% tax is only on the incremental amount over like $1,500,000, I don't know exact numbers

 

[Moggie]

My grandad spent all his boomer money on cars jfl

 

[thereallegend]

So I guess your point is that people live to 80 now (as opposed to dying at 60 for those born in 1920), so that their children will not inherit their wealth till they are 50, too late to enjoy it?

bingo

 

[thereallegend]

The bank will lend you 4x your salary.

In burgerland I heard this is true