TO think Millennials need to get their act together and

[brownmouse]

Form a political party:

• stop Brexit
• prioritise housing
• impose at least 50% tax on all inheritance
• impose second home taxes

And other stuff. But they should be IN CHARGE now. They need to rise up and sort things out.

I keep telling my DC but they are too busy on instagram. AIBU?

Not necessarily what I thought, no.

But you did make it clear that you have at least achieved a certain degree of financial comfort. Which is great... But it takes money to be this principled.

Btw, your idea of not allowing the concept of property inheritance wouldn't work...

Regulating property and rent prices would be much useful for various reasons.

Also, if it isn't too late for your DP's property:

How about inheriting the house and renting it out at a fair price to a single parent family? Or maybe offer it to a charity housing the homeless? Refugees?

don’t need it. I do need it, but I’d rather do what I can for the benefit of society and not just for myself

Do you have kids. I didn’t really feel that bothered about not having a house till we had kids but now I feel very uncomfortable about the thought that our landlord could evict us if he wanted to sell the house or whatever. I actually love our home, it’s open plan with lots of floor space downstairs and big windows and it’s on a quiet cul de sac right by a playground where lots of children are always around for the kids to play with. But I’m so conscious of the fact we might have to leave with only 2 months notice at any time the landlord feels like it.

I’m hoping my parents don’t die before we can afford a house though because I want them to see my kids grow up and I want a place of our own long before then!

Some of the comments remind me of something...
Everyone had everything, yet irl everyone had nothing.
Let me think...
Ahhhh. Deep fucking communism.... USSR on you.

You "babyboomers" should sort your shit out. It's enough we are trying to sort out the ecological shit you all left us with. Can't do everything, can we.

Principles are fine. It depends how many others share them though. It can be cutting off to spite your face.

Its not the hill I'd choose to die on for my principles. I'd rather inherit and then give to charity if it bothered me that much. Or even to at least give me some short term options (deposit now, save on rent, then 'repay' deposit to charity for example).

Just getting your parents to give it away in a will doesn't solve human poverty if they decide to give it to cats.

I find your position puzzling rather than principled tbh. No one says you have to spend your inheritance on a house and can't give it to a cause that might make a genuine difference to the issue that bothers you enough to reject your parents estate.

Oh, as for seizing people's inheritance / their parent's property...

Expropriation has often been used to control certain parts of society.

Giving the government more power than necessary - especially for measures that are extremely unlikely to improve the situation - isn't an idea I'm particularly keen on.

In answer to your question about whether I have kids, no, and I don’t want them. I can’t answer whether I’d feel differently if I had them, it’s impossible to imagine being in that situation.

MeyMary you’re right in that I need to think of a productive thing to do with the house. That’s why I said I don’t know what else they’d do to it. Incidentally my dad’s mum is leaving hers to cats, and that definitely won’t solve society’s issues. Whatever I decide to do about the house, and other social/ethical dilemmas where what would benefit me would also go against my principles, I do get that my decision itself won’t change anything. But I’d feel like a hypocrite if I didn’t practice what I preached.

How is an inheritance tax increase fair? Would you be happy to leave this earth knowing that the government is going to take half of the money you worked hard to pass to your children?

God, house prices are extortionate enough as it is without that added crap!

If house prices were not so stupid people wouldn’t need the inheritance in order to get on the ladder.

This working hard to pass money to your children is a bit of a modern myth. That isn't why most people work hard. It definitely isn't why I did. If you've got a work ethic you work hard, you may end up with a house you own outright, some savings and a decent pension. Lots of people who work bloody hard never earn enough to have those things. You may need care in old age so some or all of those assets get used, you may not and then your kids get them.

I reckon if our kids get £650k between them, they'll have nothing to complain of and have no issue with the government taking 40% of the rest.

@Bluelady ok so how do you expect people to get a deposit together in order to buy a home? A lot of people are forced to rent, meaning they will never own a home, and they will die with no £650k home to give to their kids.

I have a close friend who has 2 young children and has been renting for years now with no chance of owning her house. God forbid her parents have to go into care, because that nice house they may have paid off? Oh that will be sold and used to pay for their care, anything left will be hit with that lovely 40% tax, so most likely she won’t be left with a great deal.

In my area, house prices are at an absolute minimum of 220k (for a 1 bed flat!) so please tell how to get together 22k (plus those lovely solicitors fees) while paying an average of 1k per month for rent?

Please, educate me, as im clearly missing some secret magically way of saving over 20 grand??

Eliza: How old do you think people will be when their parents' die?

What's the point of house deposit when you're 70?

@eliza456 you are not alone in your experience. I do wonder where it will end with ever increasing house prices and expensive care home fees. Inheritance tax has never been a vote winner because it hits ordinary people who have saved. It never hits the super rich, who can arrange their affairs to avoid tax lawfully.

How about coming up with an alternative list of policies that you think would win? I'll start:

• replace inheritance tax with capital gains tax.
• limit the purchase of domestic housing to people permanently resident in the UK for tax purposes.
• tax incentives to encourage the elderly to downsize and free up their family house for the next generation (eg a stamp duty rebate)
• allow regional variation in income tax and business rates so that other parts of the country can attract economic investment away from London.
• prioritise the creation of good quality permanent jobs in a wide range of industries.

Eliza, for 3 or 4 generataions in our family we have only been able to afford a first home by having two full time salaries and buying before children and putting babies off for years. I would start with that if i were you.

Then look at 95% mortgage not 90%. That then means you only need £11k which is £5500 per person in the couple. That is not impossible. It is about £100 a week which you could earn by taking a weekend all day Saturday job for example on top of current work and save it in a year.

Millenials are not interested in how it is done or advice as it’s “anecdotal” and clearly not relevant to their lives.

is about £100 a week which you could earn by taking a weekend all day Saturday job for example

8 hours in a minimum wage job gets you £62... then you need to take off tax and NI

So nowhere near £100

Unless of course you are talking about the couple doing and not just eliza

They'd be wasting their time forming that party as the support for it would be minimal, just the odd nutcase and socialist

Equal minimum wage for all ages would be a must for them.

Eliza, did you miss the bit where I said some people have always worked bloody hard and never managed to own a house or save money? This hasn't just suddenly happened. Up until about 50 years ago most people rented.

I think this tax incentives to encourage the elderly to downsize and free up their family house for the next generation (eg a stamp duty rebate) is a must. @Genevieva

and clearly not relevant to their lives.

Well since you say it...

...it being 2018 not 1968.

All day job for Saturday and Sunday x 2 would therefore be £400 minus tax. In a 4 week month that’s £1600 but it would require hard work and effort

Minimum wage for 16 hours would be £120ish

X by two people is £240ish

Take off tax and NI

So nowhere near £400

Fair enough thats over 6k

But still not near the 11k mentioned earlier

So thats two years of two people working 7 days a week to get near the 11k

Doable...but fuck me that would be hard!

Disclaimer

My maths is shit and im tired

(Thats my excuse and im sticking with it)

Rufus lets say they had some skills and could earn more though, it would be hard but not impossible. I don’t say every weekend but it proves it can be done.

Weekend jobs are usually in retail or hospitality

Your average bar job or shop job doesnt pay £12.50 an hour

I kinda thought we were attempting to keep this real

Well i was