To be depressed about my financial situation compared to my neighbors

[greenwithenvy2]

My neighbor is about 59 years old and her husband is 63. She works for the local council as a HR coordinator and her husband, who is now retired, was a finance clerk for the local council.

They have a property portfolio worth around £2.4m (£1m mortgages) so approx £1.4m in property assets. They started their business in the early 90s, when they purchased their first property. They moved home, renting out their original house and repeated this again. With the increase in house prices they were able to remortgage their BTL and buy more property.

We are in our late 30s and are in a very privileged position - we earn a decent wage between us (£140k) and are able investment into our ISA each month but we will never able to have £1.4m in property investment.

I felt so bitter listening to her. They were able to provide gifts for their children to buy their houses and they have now set up companies so their children will inherit their wealth.

I get we are fortunate, but we'll never be able to do this for our children. They achieved this on fairly middling wages as well. I know there are a few other neighbors on our street who've managed this feat and now their kids are sitting pretty.

I felt disgusted at her and at myself for feeling this way.

Your household is earning a ridiculously high amount of money each year.

If you were to start today and invest 10,000 per year in a good portfolio, you would have more than a million pounds by the time you reach your neighbours' age. Which isn't far off what you say they are worth.

That should easily be doable on what you are earning.

Look on the bright side, in 20 years you’ll still be alive and she might not. Mind you envy isn’t great for your health.

There is absolutely nothing to stop you accumulating wealth on a similar scale, especially with your earnings.
Having a portfolio of BTLs is hard work. And stressful. Take it on if you are brave enough. All it takes is having a good deposit for your first BTL. After that the finances become easier and in a couple of years you can buy a second on the back of the first. It’s a great way to create a pension. And if you live in a university town so much the better. BUT you have to be a first class landlord, ready to drop everything to respond to a tenant in need. Holidays are tricky but not impossible if you have backup trades plumber, electrician etc.
We started in our early 40’s and did it for 25 years, but both had full time jobs too. We have now sold up. It was the best thing ever for us as we were never going to be in the earnings bracket you are in. You have no need to be jealous.

greenwithenvy2 you wouldn’t want to be a landlord because you ‘consider profiteering from a basic human right nasty’. What a load of bollocks. Do you think your neighbour is a nasty profiteer then? In all likelihood they own very nice properties that they maintain to a good standard giving good value to tenants, because otherwise a) I doubt they would be making as much money. You only continue to receive rents if your tenants are happy. Tenants soon stop paying rent if they feel that landlords are not pulling their weight. And b) they will want to protect their investment. Broaden your mind!!!

Oh god, you're one of 'those' people. I'm Gen X and we've all been shafted on our pensions. Should I be insanely jealous of all those boomers that retired at 50 and are living their best lives on amazing final salary pensions? Have a good moan that I won't be able to help my children as much as they do? Are you that stupid that you think everyone born the generation behind you is a property magnate? When you were born would probably have made no difference at all to you because you have already said you would never become a landlord. You would be in the exact same position. At £140k income there is absolutely no reason why you won't be able to help your children. You already have an investment portfolio, set up a JISA for your child now while they are young. I assume anyway that as everyone that was born the generation before you is minted that both you and your husband will have inherited wealth which you can pass on your children so all will be fine.
Stalking your neighbours on companies house is worrying behaviour

It is different for our generation. You have a decent income and are saving into your ISAs. Maximise this, particularly investments. Put plenty into your pensions too and in time you will have a decent amount you can use to help your children. You will hopefully be able to take a lump sum from your pension.

The opportunities are there for us but they do look different to previous generations.

@greenwithenvy2 I think your kids will be alright. There are many mums and dads the world over who can't feed their children and who have to bear their children crying with distress as they are so hungry. There are many mums and dads whose children are suffering and need medicine but they can't afford it, so they have to watch their children suffering powerless to do anything.

Your kids have been born in a land of opportunity where they are safe and have every chance to make something of their lives. They have a mum who loves them and who has been able to take the opportunities available to her to provide a huge amount to them. They will be learning from this and in the fulness of time be able to the same themselves (as long as you don't rubbish and minimise what you are giving them and what they have). Teach them to feel well resourced, and they will feel well resourced.

It's cause for a lot of satisfaction and celebration, and thankfulness, as well as pride in what you have been able to do as their mother. Don't rubbish and destroy it out of envy.