AIBU to think that family members who are still renting in their late 40s are making a big mistake?

[nostaples]

I know this is ultimately not really my business, however, I am worried for them. Also worried about the impact on the wider family, including their parents (in their 70s) if they require financial support as they get older. This is a family of 5. One of the adults works for a decent, but not spectacular, salary (£30,000 ish) and the other doesn't having resigned and spent about a year half-heartedly looking for jobs. There will be some pension provision but the currently working adult had a career gap of over 10 years. The youngest child is over 17 and the oldest early 20s and all at various stages of doing courses (not particularly respected and in not a particularly motivated way) or nothing, none is independent and all living at home. The family has been renting for about 15 years having sold their first home for not much and it was not mortgage free. I think they did this because of an idea that they could clean up when the property bubble burst. The rest of the family thinks any money from the sale has nearly spent. The rent is quite expensive, probably more than they would have paid on a mortgage all this time. Is there something I'm missing or is this a recipe for a very difficult retirement? The family have no security. The children, although young enough to put things right, at the moment, are following their parents' rather aimless approach to careers and financial security. The rest of the family seem reluctant to discuss the situation or offer advice.

My dad and inlaws have always rented from the council, not as bad as private landlords ( in some cases) but it was what was best for them at the time and now. they didnt always make the best choices in life, but you cant always tell people and they will do what they want to do at the end of the day! renting does have some up sides too, inlaws place needs unpinning and falling down, but they dont care much as its not their property.

Whilst it is frustrating to see people being half arsed about getting a job or buying a property at the end of the day it's up to them. Why are their parents concerned about it??

nostaples
it's because they are choosing not to

Theres the answer. No point in speaking to them since they have made this choice

Now bow out and mind your own business.

They're just ahead of the curve. In another 20 years, there'll be loads of 40-somethings still renting because the housing market is so fucked.

For all the OP knows, there may be all sorts of investments sloshing around, pensions that will produce a massive lump sum on retirement or a distant relative on the other side of the family who will leave them an old master painting or a country estate. Or they may spend a few grand on a field and a static caravan and live off-grid or something.

I have a family member who is a single parent of 4 children, one of whom is disabled. She got 2 inheritances when the youngest 2 were in their late teens, one of around £500k and one of around £300k.

She's still renting, and is (not very) slowly pissing the money up against the wall on new cars, clothes, shoes, all-inclusive holidays and doing up her rented house. She's got through £350k in rent alone since she inherited.

Now that is plain daft imo.