This may not land very well given that a decent proportion of users of this forum are (I'm guessing) a certain age, but there is a whole generation now who live in real privilege but who genuinely don't know it, and will even deny it when it's pointed out to them.
My parents are like this. They still feel poor for some reason, even though they live lives which younger generations can only dream of.
OP you are rich, even if that makes you uncomfortable. Sorry.
Maybe if younger people stopped buying so many avocados they could also buy two houses, a brand new merc and retire at 55
You are right about the younger people/group and this is why I said I hope property prices crashed even though we may lose out as we have a second property rented out, bought for cash couple of years ago.
We could if we wish, sell the rental but that would lower our income and we'd be digging deeper into our savings.
We have three grown-up children all with properties near us. Our daughter rents her apartment out and lives with us and we are very happy with that. Our sons both recently moved homes and upgraded and have massive mortgages. We aim to sell the rental when I get my additional pensions
and share amongst the three of them the money from the sale after taxes and hopefully able to top up with another150/200k approx hopefully totally 550/600k. We were never given anything and did not want anything. My father was ok, he too drove the E type Mec since 1972 and all of his assets went to his second wife as she was expecting and had no real money of her own, I felt it was right it went to her and even if I did not like it, it was his choice. When we bought our first property in London we paid 75k we'd moved from Bedford and got 20k for ours. So we can see that property prices are ott and a person/s with one property and little income/saving are on the whole struggling to upkeep larger, victorian type property and/or heat them adequately. Therefore, we could squander our money by upgrading to a large detached home in a nicer area of Bexley, buy a brand news GLS and possibly give 10/20k to kids. But we won't and plan is to give them larger months to help reduce mortgages and we would only do that if they continued to do so as now, EG -work, spend wisely, never pay interest on their CC's and never hire purchase a car and have money in the bank for a rainy day. We've not told re our plans because if I knew my parents were going to give me close to 200k, I'd leave work, lol.
We've worked hard, spent and saved wisely and we would not be where we are had it not been for our parents the way they brought us up and as importantly our children who never asked us for a penny since leaving education. I know of people that work 50+ hours but dont have a lot to show for it as they have bills to pay and low wages. Then you get those that work as hard but paying off the 2nd/3rd wife and multiple children and buying everything on credit. A fact that divorce can hit anyone at any time and at times outside one's control! Why spend 10k when you could have brought it outright for half the money, why not wait until you can afford it. (Not aiming post at you just a general response.)
Yes, we want property prices to crash and yes I do want a brand new GLS, even a GLS/AGM but it would be throwing money down the drain
and I could never justify that amount on a car with our net worth. If we were worth 3/7 mill and had a property on top of that, then I'd buy. We are not rich, we are not poor, we are ok, doing well as ex ordinary workers and both of us worked on the factory floor and we do recognise that health is wealth. I've never wanted to work that's the kind of bloke I am but worked since leaving school until my early retirement and my wife did that the month before me.
Thank you.
