Yeah but this windfall they may get years later isn't going to mean they can borrow more now so it's irrelevant really, not that anyone should be looking at an inheritance that way but you do get those types.
Millennials are likely to enjoy the biggest "inheritance boom"
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Yeah but this windfall they may get years later isn't going to mean they can borrow more now so it's irrelevant really, not that anyone should be looking at an inheritance that way but you do get those types.
To add something ‘worthwhile’ in addition to my previous worthless comment - millennial here, born late 80s. I think it’s the children that were born at the turn of the millennium, and beyond, that are the most stuffed.
My tuition fees were £1,000 a year. There is a junior at work that has £50k of student debt and is working for peanuts! If he doesn’t have it hard, then I certainly had it laughably easy.
My tuition fees were £1,000 a year. There is a junior at work that has £50k of student debt and is working for peanuts! If he doesn’t have it hard, then I certainly had it laughably easy.
Soldato
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I'm a millennial and I'm set to inherit 2 houses split equally between 3 of us. One of the houses is partially mortgaged through an equity release scheme though so the value of that is diminished and will be further diminished the longer that debt stands.
However, I'm very much *not* a millennial in that I have a full-time, permanent and secure job, bought my first house at 22 (which is now rented out to a tenant) and own my own car. I have student debt but my student loan was only approx. £3000 a year (so £9000 to pay back) and my parent's paid the £1000pa tuition fees.
I do live in the North East of England though, so our houses are (relatively) affordable, and I have beautiful Northumberland and the Scottish Borders on my doorstep
However, I'm very much *not* a millennial in that I have a full-time, permanent and secure job, bought my first house at 22 (which is now rented out to a tenant) and own my own car. I have student debt but my student loan was only approx. £3000 a year (so £9000 to pay back) and my parent's paid the £1000pa tuition fees.
I do live in the North East of England though, so our houses are (relatively) affordable, and I have beautiful Northumberland and the Scottish Borders on my doorstep
don't have to go to university.
You do in my field. Currently, and realistically for the foreseeable future.
I’m not a doctor, but if you want to be a doctor, it’s university time.
This of course assumes that all the potential inheritance doesn’t go on care costs...
Anyway.
I stand to inherit a fair chunk from my parents in due course, but as they will likely be with us for another twenty years (all being well) I’ll have probably paid my mortgage off by then, so it’ll be my kids who see the benefit of it.
Anyway.
I stand to inherit a fair chunk from my parents in due course, but as they will likely be with us for another twenty years (all being well) I’ll have probably paid my mortgage off by then, so it’ll be my kids who see the benefit of it.
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Yeah I agree about tuition fees. In my line of work you must have a degree. It was 1k/year when I went, now it's 9k/year.
An increasing number of career paths are making a degree a requirement just for entry and many more where if you want to progress in the field you'll need one.
Is your perfect world where everyone is a tradie and the postman walks your dog on his round?
not moaning?
Requirement or just people think it is?
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In my case you need a computer science degree or equivalent - because of the knowledge gained on the course - and because you won't get an interview without it. So definitely a requirement.
Outside of having a wealth of experience or being incredibly gifted your application will be pushed aside in most cases if it's lacking a degree where one is asked for. Not saying that's the right and only way to employ people for certain careers but it is what it is and looks to only be getting more and more common.
Pre-screening that's all.
When I left school I think about 10% of people went on to further education, I suspect it is many more today. Game's moved on and people need to understand today that in the VAST majority of jobs your exam results are actually irrelevant outside of demonstration of the ability to learn. I have recruited many graduates over the years, I can't think of one time when I chose them purely on their scores or exam results or gave it simply to the one with the best score. Life in business is tough, exam results are just an element for most employees, for most roles they carry little weight.
Indeed, which is why it's pretty much a requirement now if you want to get a foot onto most ladders.
Life is tough, ever was it thus. Focus on today and your future life, not what people had before or what people are doing to your future (not aimed at you). I suspect many (not all) student bills could be significantly smaller, but they aren't because education is now something you do for an experience, in my time it was very much for the specialisation it provided you, the differentiation. Instead of moving from Birmingham to Edinburgh to do your Biology degree, do it in Brum, live with mum and dad, save 20K, focus on the end point, not the 3-4 years of having a great time. Plenty of time for that.
Can't say I've ever heard my mum or dad talk about how their parents (or that generation) had it better. I'm 32. Don't think I've ever heard any of the "Baby Boomer" generation say that about their parents.
Aren't you a solicitor or something? Surely this junior isn't going to be on low pay for all that long and once qualified that 50k can be cleared pretty quickly.
Personally I think student debt ought to be wiped for nurses, soldiers, police, teachers etc.. subject to a certain amount of public service but for others it mostly down to their own life choices... do well in a law degree at a good uni and get a high paying job then not much issue, do a course in advanced basket weaving at a uni that required 2 Es at A-Level and get 50k into debt then that's your own fault.
You might be onto something there for their next ad campaign.
Plenty still do it for the specialisation, which is even more important nowadays to differentiate yourself. A decent degree is still worth it even with current tuition fees, but once upon a time it would have been free, or very low in cost. Private school fees were also a lot more palatable. I accept this is a luxury, but still, it was possibly easier for the lower/regular middle classes to properly get on.