To think it’s crazy that National Minimum wage is £27k

The point about inheritances and these huge inheritances that are going to be passed on is not so much the question of whether there will be anything left, but simpler: not everyone will get them. We are already living in a society under severe stress due to entrenched inequality, with many turning to drugs and crime because working no longer pays.

Add large inheritances given to a favoured few and we are back in the world of Dickens. Worse than the world of dickens, because it is going backwards. You think large parts of the country have nothing to do with you, live completely different lives in different worlds, with entire sections going to lawlessness?? You ain’t seen nothing yet. Those leafy suburbs will just make themselves targets when there’s no point to work at all.

I don't know why you're rolling your eyes.

My oldest - 34 earns around £56k. Youngest - 30 earns £97.5k. Youngest has a partner, also 30, she gets around £35/40k. (guess, as I would never ask).

My husband and I were around £40k when we retired. I was lower as I went down to four days 3 years before I retired.

Both are public service workers, so will have good pensions.

I don't know if living in Scotland makes a difference but their friends all earn well too as do our friends children.

🙄

No they would be wealthier even if they had children. They are millennials.

Some communities never recovered from deindustrialisation.

whether NMW is enough depends on where you live and how , if you are living at home with your parents and contributing 2-300 a month for food then you have a considerable amount of disposable income, if you are trying to rent a one bed flat al by yourself in london or SE you will be skint, there are many situations in between

most people starting out would be living at home or in a house/ flat share on a room basis with shared facilities a bit like students

it also depends where you live 1700 a month take home goes a lot further when rent for a room is 450 rather than 850 or when a 1 bed flat is 700 rather than 1200
or when a couple both on NMW live in a 1 bed

Ok…but that’s a direct reply to me saying I’m not comparing that. So why are you comparing them that way in a direct reply to that comment 🫣

would you be willing to share your housing costs and how much your council tax is? And do you receive UC?

I can actually see 50K being more achievable to live on as a family than 25K as a single person for various reasons so actually it’s not that surprising.

The problem is the government doesn’t recognise not everyone is a DINK or a 2 parent family. So for some people earning MW at 37 hours a week that 25/26K is all they’re getting.

Only, It’s not around £27k! It’s around £24,500 based on working a 37.5 hr week! Most companies are only offering contracts of 30hrs per week, max! This includes companies like Primark, Greggs and most of the supermarkets!

Both of ours who are wealthier than us now and when we were a comparable age have children.

We get by on 52000 between us. Comfortable. One car, two holidays, three children
We don't go put for fine dining meals or designer clothes . Family friendly restaurant and mid price like next. We don't save much tho! Around £250 a month .
I batch cook...but its good healthy unprocessed meals

Has anyone used the term boomer so far? I hadn’t noticed it.

They will be wealthier than you were at their age because they don’t have children and we aren’t talking about wealth now in comparison to then. We are talking about millennial income/wealth in comparison to pensioners now, and in the future.

Maybe pick up extra shifts. Do something at the weekend? Maybe Uber, deliver parcels? Maybe tutor?

£27k is not horrible. You can make do outside of London in a flat or house share

I hope my mum spends all of hers…I don’t want her dying with money left, I want her to live her life and spend to the fullest while she is fit and healthy. Definitely don’t want her propping up my retirement, and I definitely don’t want her to think she has to save to leave me some, only for it to be wiped out in care fees.

I meant my two are wealthier than my husband and I were at their age, due to their own income. Plus they don't have children yet and we did at their ages - them! 😀

They will get inheritance - maybe. But only from us and not millions!

Their Gran is one of the pensioners who apparently don't exist, the ones living on pension credit and her husband passed away young. My husband's Dad.

My parents have also gone. I got some money from my parents after they died but not the millions people on this thread think every "boomer" had. They were boomers.

Sorry that I mixed you up.

you said "same" when someone said their kids were well off de to inheritance

My boys aren't recipients of inheritance.

That kids are blessed with wealth due to inheritance and are financially secure

Perhaps, if you live in a very cheap area. You're £320 mortgage isn't going to have been replicable in most areas in the last decade though.

Even if I still had the housing costs I'd still have over £1k in disposable income between us though

So you manage it by having cheap and then no housing costs. Not so much budgeting as good timing.

Agree, last year's gross between us was £44k, with two kids. We have a holiday once a year, have everything we need, no debts. Car bought this year for £8k but I'd been saving for a few years to replace the last one. We don't have to pay the mortgage anymore, however when I finished repaying it 3 years ago the monthly payments were only £320. But I have previously coped on very little money, so I don't know if I'm just good at budgeting and not going overboard on spending. I'm just grateful to have everything that I can afford, but usually there's around £1,500-£2k a month of disposable income so I can save some of it too.

Not many people go into care for long. Most never go in, those that do usually die quickly. It's healthy bodies with dementia that eat up care costs.

What is far more common is carers at home. The majority of people do end up with visiting carers and the house is then the inheritance

It's always been the same though.