Welcome Guest [Log In] [Register]
Welcome to Uk Debate Mk 2, the UK's liveliest political and social debate site.


You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free.


Join our community!


If you're already a member please log in to your account to access all of our features:

Username:   Password:
Add Reply
Millennials will be poorer than their parents – Institute for Fiscal Studies; The research, by the Institute for Fiscal Studies (IFS), suggested young people are likely to have less wealth at each point
Topic Started: Nov 19 2015, 09:29 PM (65 Views)
skwirked
On Enforced Vacation
[ *  *  *  * ]
http://www.cityam.com/229124/ifs-the-next-generation-will-be-poorer-than-their-parents-at-every-stage-of-their-lives

We all know Millennials were at the pointy end of the financial crisis - but the resulting effect could last for the rest of their lives, according to new findings.

The research, by the Institute for Fiscal Studies (IFS), suggested young people are likely to have less wealth at each point in their lives than earlier generations did at the same age, unless the rate at which they are accumulating wealth picks up. In other words, unless they begin to get richer, faster, they're going to be less well off than their parents were.

The report studied changes in households' wealth between 2006-08 and 2010-12, and found that while average financial wealth grew by £6,000 for those in the 45-54 age group, for 25-34 year olds, that was much smalle, at £4,000.

[...]


Meanwhile, pension income wealth increased by £13,000 for those in their 20 and early 30s, compared with £38,000 for those in their late 40s and early 50s.

What's interesting is that property wealth among the youngest group actually rose during the period - while it fell among all the other age groups.

And the youngest group's expectations of their future wasn't exactly encouraging. Nearly a quarter said they don't expect to receive a state pension - while 44 per cent said they didn't expect to receive any income from a private pension. Meanwhile, 28 per cent said they expected an inheritance.

-----------------------------------------------------------

Confirms what most of us already knew tbh.

Looks like we most definitely are not all in it together.
Offline Profile Quote Post Goto Top
 
Affa
Senior Member
[ *  *  *  * ]
The thing is; they will not know better, not have known a better time.
They will therefore never have the resentment due towards the bar stewards that have made themselves and their shareholders filthy rich in the process of robbing them of a better life.
For these young starters today is 'the time of their life'.



Edited by Affa, Nov 19 2015, 09:38 PM.
Offline Profile Quote Post Goto Top
 
skwirked
On Enforced Vacation
[ *  *  *  * ]
Affa
Nov 19 2015, 09:38 PM
The thing is; they will not know better, not have known a better time.
They will therefore never have the resentment due towards the bar stewards that have made themselves and their shareholders filthy rich in the process of robbing them of a better life.
For these young starters today is 'the time of their life'.



"According to the Mental Health Foundation, though estimates vary, research suggests that 20 per cent of children have a mental health problem in any given year with further research from The Office for National Statistics finding that one in ten children between the ages of 5 and 16 have a mental health disorder1, 2."

Not sure if you are correct.
Offline Profile Quote Post Goto Top
 
Affa
Senior Member
[ *  *  *  * ]
skwirked
Nov 20 2015, 07:55 AM
Affa
Nov 19 2015, 09:38 PM
The thing is; they will not know better, not have known a better time.
They will therefore never have the resentment due towards the bar stewards that have made themselves and their shareholders filthy rich in the process of robbing them of a better life.
For these young starters today is 'the time of their life'.





Not sure if you are correct.
How old are you (rhetorical) ...... young enough not to recall much prior to Mrs Thatcher's stewardship.
There are fewer of those under forty that will look back at that period with any sense of it being a bad time to be around in. For most now in their early forties it was a good time, a time of youth and all that goes with it.

For those in their teens today, this austerity will not be remembered as harsh or depressing ....... it is to them 'normal'!


Offline Profile Quote Post Goto Top
 
skwirked
On Enforced Vacation
[ *  *  *  * ]
My earliest menories were under Major. :)

My post was a direct response to this:

"For these young starters today is 'the time of their life'."

Sorry for misunderstanding and I agree, most opinion polls and people tell me how much better life was in the 'heydays', the 60's and 70's etc.
Offline Profile Quote Post Goto Top
 
2 users reading this topic (2 Guests and 0 Anonymous)
« Previous Topic · Politics · Next Topic »
Add Reply