To think it’s selfish for parents to retire early when their kids are renting?

you can't buy time

odds on your dh has less life left than your dd and time is precious

If your daughter could give your father a present the best present she could give him is time

Interesting how if anyone mentions 'boomers' people run around around like headless chickens screaming "AGEISM" but we can slate Gen Z for "expecting things" from their parents and "not working for their money like we all had to".

Can't have it both ways...

People on here really don’t get the reality of the difficulty in home ownership for the younger generation.

Reality is a lot of people will have been forced to live in multiple homes, so gone through the financial and emotional stress of being forced to move through no fault evictions.

The property ladder concept is outdated and no longer works for younger generations due to rental prices and deposits.

I absolutely would help our child, we’ve been through the same (both mid 30s) and have experienced the difficulties ourselves.

The ‘just work harder’ idea just shows how out of touch with reality some people are.

You can draw some private pensions at 55. State pension won't kick in until 66

You can get a 2nd job and gift the money.

Are you serious?? Why should he? 🤦‍♀️

Some parents choose to gift their children large sums of money, houses, etc - what's the problem? No point being bitter because you had to save when other people have an easy ride in life.

Many people prefer renting for the flexibility, only the UK has this ownership obsession.

DS does, he rents a city centre flat which he certainly wouldn't want to buy as they are not the best type of properties for purchasing. He is not interested at the moment in owning a house which he would have to constantly commute into the city from.

Chickenuggetsticks · Today 05:12
Reality is that in some areas it’s extremely difficult for young people to get a deposit together, it means people are paying mortgages into their 70’s because they are getting on the housing ladder so late.”

We’re 60 and 65. Our mortgage is paid off in 2 1/2 years. Ought we to go straight from that to paying our kids’ mortgages? No, I don’t think so. We help them as and when we can but that would be an entirely unreasonable expectation (which, thankfully, they don’t)

If you want to help them you can work

God almighty, its right there in the OP!!!!!

If this isn't a wind up, why would he be thinking of going at 59, OP? I assume there would be a huge actuary reduction on going at 59 compared to standard pension age 60.

No, it isn’t the same at all, it is much harder for young people to buy a house now than older generations. Much much harder. Spiralling house prices, wage stagnation, cost of living. And most of them won’t get to retire until they are late 60’s, probably 70’s.

A million times this. Older generations who fail to acknowledge any of this are being cruel to be honest. ‘Just like we did’- they would be able to buy if things were ‘just like they were’!!

It's up to your DH, not you.

If your child wants to buy a property then I suggest they get saving.

Or your dd can save money for a flat? I encouraged both of my parents to retire early. Their health and wellbeing was much more important than money for a deposit or anything else.

I would do it OP, me personally. I do not think you stop being a parent the moment they leave and life is getting tougher and tougher for them.
But you cannot force him in any way. Suggest, yes, why not?
He is rather young too, so at least he has health issues, he is going to get bored of it pretty quickly.

@SplendidPendips - in fairness though- the post states he should work another year- makes no mention of if OP plans to do the same. If on 50K he isn't going to 'make' a house deposit with COL in an extra year of work. No mention of mentally or physically how he is, but an assumption he should work for another year, to give 20k (can't imagine much more than that) to a daughter whose age and income isn't mentioned. She can think it's a nice idea, but really it's entirely up to him, he can and wants to retire.

Every generation has its issues, yes lower house prices but also life lacked a lot of opportunities it does now.

Agree house prices have been a great investment for many people, but equally for many people they haven't been a good investment, or they've had to ride out negative equity, or be constrained to work in jobs or live in locations they didn't really like.

Many people now may have the opportunity to work fully remotely ....this means they can work from a beach somewhere beautiful whilst saving money and progressing career wise.

I'm sure they aren't stressing about not having their names on house deeds somewhere.

Many people prefer renting for the flexibility, only the UK has this ownership obsession.

There actually are ways around the issue - lower cost of living area, buying initially in an "undesirable" area and planning to move, getting a two bedroom and taking a lodger in one room. Using a well paid job as a means to an end to get enough payslips for a mortgage.

Everyone I know who really wanted to buy did....even with zero parental help, they had a plan, it may have taken a few years and some lean years but they did succeed (and not even in high powered jobs either).

(I could have built up a little investment portfolio if I put the time in, but honestly I'd find it boring! So I haven't).

If parents want to help their children out it's their choice, but it really doesn't seem something to stress over.

(I actually know several people who explicitly refused gifted deposits as they just didn't feel comfortable.

And some super affluent families who refused to give anything until their children had got to a certain professional and financial level themselves...they'd always host and feed and pay for education, but nothing beyond that).

The joy of a government / public sector pension!

Or, your children do what we did and save up themselves. Buy somewhere small and not exactly where they want to live and sell and buy for years till they get where they want to be. So many first time buyers I see now are going for three bedroom family homes. Start small. Do it themselves.

I don't think this posr has garnered quite the outrage expected!

Surely you should be pleased he wants to enjoy his life ahead and not be stuck working!

Trust me, when you retire after 45 years of working, you find plenty to do
In fact, not enough hours in the day!

So?

Wtf?
Why on earth should he? Can't she save for her own deposit. You know, like many, many other adults have to do