Better or worse off than parents?

[House of Usher]

All the recent navel gazing about embarrassing parents and unique things you've done set me wondering.

One hears a lot these days about how previous generations of parents expected that their children would have more and achieve more than they did, yet the current generation of young adults is the first 'evah' to do less well than their parents did.

So, how well did you do? Are you better off or worse off than your parents, and when were you born?

[Hoagy]

Early 70's and it depends what you call worse off.

[Dandontdare]

yet the current generation of young adults is the first 'evah' to do less well than their parents did.

Is it? what are you basing this on? As far as I can see it's been a fairly consistent progression from generation to generation. I had more than my folks, kids today have more than I did (instant electronic access to information/social networks/credit/entertainment etc.)

I don't get that premise at all.

[Satanist]

Live in a much nicer area and have more money coming in... but both work and see less of the kids than would like to get there.

Mum stayed at home and Dad worked his balls off all week.

He's prob better off than I'll be at his age though, auld yins know how to save.

1974.

[Roger Godpleton]

All of your parents are better off for having met me and my female counterpart.

[TordelBack]

... my female counterpart.

Well, that's the end of any hope of a decent night's sleep.

[JOE SOAP]

... my female counterpart.

Well, that's the end of any hope of a decent night's sleep.

It's his sister.

[House of Usher]

[Is it? what are you basing this on?

It's what the papers and social commentators keep telling us all the time. I think they're basing it on the likelihood that someone aged 20 today is less likely than their parents to have a career, job security, a final salary pension and a shot at home ownership by way of mortgage finance. But maybe they're just making it all up.

[Roger Godpleton]

I'd paid to see Bon-fucking-Jovi!

[House of Usher]

I'd paid to see Bon-fucking-Jovi!

True. You're so fucking funny you almost gave me an asthma attack!

[House of Usher]

For my own part, I was born in 1970.

I got three more university degrees than either of my parents. My mum got 3 'O'-levels. He got nothing.
My only long-term relationship has lasted 21 years and counting. My parents had three each.
So far I'm winning.

But:
I own equity equivalent to one-third of the value of my home; my parents owned twice as much at my age.
The biggest house my parents owned was a four-bedroom semi with a huge garden; mine is a four-bedroom terraced with a 16 sq/ft garden.
My mum will have inherited about £200,000 from her parents; I will inherit about half that.
She will retire at 62. I may not get to retire on a state pension at all.
We are both in the bottom third of UK earners.

[Dandontdare]

so you are just talking about being better or worse off in terms of wealth?

[House of Usher]

so you are just talking about being better or worse off in terms of wealth?

That would be the main indicator. There are other things of course, like health, education, opportunity and celebrity, but as assets go, they're kind of perishable.

[Dandontdare]

hmmm,- We may have passed a peak when it comes to the sudden wealth-increases and home ownership that we saw in the 70s-90s, but these were always unsustainable bubbles. I still think we're on a generally upward curve in the long run.

Until we get to the point (next year? decade? century?) when the inherent unsustainability of it all, or the  extinction-level event, happens and we're back in Mad Max territory (watching MM 2 & 3 on ITV4 as we speak!)

[maryanddavid]

At the minute we arnt exactly flush, but if you compare my parents life and ours at a similar age, Im streets ahead. My parents moved back freom England to a poor standard of living through obligation/ starting a family, in the late sixties, I was born in 74, late seventies/early eighties were not an easy time in the west of Ireland.
Im less qualified than both my parents,and Mary is more qualified than hers  We were lucky enough to build our house before the boom, even though now things are tight, we still have the perks, internet, cars, days out, (aparently Portugal too according to the CFO)  its not like the eighties.

David