The dependent generation

Here’s something I’ve been pondering on for a while.

I believe that my generation (I was born in ’78) is a generation waiting on death for financial a restbite.

Not our own death, obviously, but that of our grandparents and parents.  Their respective generations appear to have  had the good fortune to create wealth at a speed with which they could then (rightly) invest into long term assets such as property.  They were also privy to a more generous and wealthy state.

Those of my generation (and I would imagine the next) will have no such luxuries. We live in a time where living costs mean people are living with their parents for longer and longer; they are more reliant on their parents for money in order to get a deposit for a house.  It seems to be a phenomenon that is happening everywhere, not just in the UK.  And, at the end of it all any state pension/welfare we get at the end of our working lives will be grossly out of sync with real living costs.

I’m acutely aware of how morbid this all sounds, and I don’t want it to sound like an excuse for not trying to build your own wealth, which one should; or for not being frugal with your finances, which one should be.  It is just that despite both of these, and despite the effort you put in, the rewards are not as abundant (or not as shared) as they appear to have been in past times.

We’re having to rely on the wealth our parents/grandparents have accumulated to feel some sense of financial freedom or at least loosening of the shackles of debt we’ve had to take on during this journey they call living.

It’s something that’s been playing in my mind for ages and those I talk to seem to agree so maybe I’m not that wrong.  Or maybe I am, you tell me.

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