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The Youth Feel Screwed
Topic Started: 16 Oct 2016, 11:42 PM (2,558 Views)
Lester
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Will
17 Oct 2016, 12:55 AM
I don't know any late teens and early twenties who aren't set to inherit a fortune. Well a fortune by my standards anyway. Many are already receiving the dividends of 3 to 4 generations of stability and wealth build-up since WWII.
Exactly! The youth of today are set to inherit a small fortune considering the assets and wealth of their parents and grandparents. Meanwhile they get to enjoy cheap rents and a lifestyle their ancestors would be very envious of - foreign holidays, the latest gadgets, big cars, eating out. All things the older generation could only dream about at their age. Even reverse mortgages won't be able to make much of a dent in the ever-increasing asset values that will be passed down to them. But of course, like all generations the youth of today will whine and complain, even as everything is handed to them on a shiny platter!
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Sydneyite
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Ex BP Golly
17 Oct 2016, 02:30 PM
Reverse mortgages will ensure their parents have nothing to leave behind.
Nah. It will be the banks foreclosing on all the boomer parents over their "criminally and fraudulently" obtained mortgages that will crash the market and ensure nothing is left to be passed on, right Golly? Any day now as well, surely?? :re:
For Aussie property bears, "denial", is not just a long river in North Africa.....
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A Lurker
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Lester
17 Oct 2016, 02:49 PM
Exactly! The youth of today are set to inherit a small fortune considering the assets and wealth of their parents and grandparents. Meanwhile they get to enjoy cheap rents and a lifestyle their ancestors would be very envious of - foreign holidays, the latest gadgets, big cars, eating out. All things the older generation could only dream about at their age. Even reverse mortgages won't be able to make much of a dent in the ever-increasing asset values that will be passed down to them. But of course, like all generations the youth of today will whine and complain, even as everything is handed to them on a shiny platter!
With the average life expectancy now at about 80 in Australia you can expect one parent to beat that. Waiting until your 50s, 60s or 70s (when the last of your parents passes) to inherit a house seems to me like a poor strategy.
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Chris
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A Lurker
17 Oct 2016, 04:59 PM
With the average life expectancy now at about 80 in Australia you can expect one parent to beat that. Waiting until your 50s, 60s or 70s (when the last of your parents passes) to inherit a house seems to me like a poor strategy.
For some it maybe the only option. You're narrow view that 'everyone' can buy a property 'if they really wanted to' is tiring and wrong.
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Rufus
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A Lurker
17 Oct 2016, 04:59 PM
With the average life expectancy now at about 80 in Australia you can expect one parent to beat that. Waiting until your 50s, 60s or 70s (when the last of your parents passes) to inherit a house seems to me like a poor strategy.
The meek shall inherit the house - eventually - maybe.
Take risks - if you win you will become wealthy, if you lose you will become wise
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stinkbug
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My son (who is 11) often asks me questions about financial matters. One of the things we have discussed is inheritence, and he is under the clear expectation that he should plan to be retired by the time he receives his inheritence.

With at least one parent likely to last until 90+ it doesn't make sense to scrape through hoping that some future inheritence wil save you.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Foxy
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Zero is coming...

Some more than others...


https://www.rt.com/news/364623-australia-parents-abuse-daughter/


Has this been main stream news in Australia///
???
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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