181–190 of 974 posts
Earlier quoted context omitted.
Sorry to nitpick but the social isolation and massive unemployment are being caused by our response to the pandemic, not by the pandemic itself. Lockdowns are a choice, with tradeoffs.
Death or lifelong respiratory syndrome isn't a great way to live either.
Earlier quoted context omitted.
Have they fallen generally, or has the highest tax band fallen? Germany had the highest tax rate > 50%, it's now 42/45%. At the same time, the income required to be taxed at that rate hasn't changed with inflation, so while it was e.g. 52.152€ in 2002, it's 57.051€ now - adjusted for inflation, it would have to be closer to 75k€. Lowering the top marginal tax while not adjusting for inflation so more people get pushe…
Erm it's also not great when you're rich. Either way you're being taxed more year by year (in adjusted inflation euros)
Earlier quoted context omitted.
Death or lifelong respiratory syndrome isn't a great way to live either.
That's true. Without the lockdowns, everyone would have had some very small increased chance of death or lifelong respiratory issues. It's the role of science to tell us what that increased chance is, and the role of politics to decide whether that warrants the long-term decreased quality of life for a much higher fraction of people that the lockdowns/shutdowns will cause. At any rate, none of this was forced, certai…
Earlier quoted context omitted.
That's true. Without the lockdowns, everyone would have had some very small increased chance of death or lifelong respiratory issues. It's the role of science to tell us what that increased chance is, and the role of politics to decide whether that warrants the long-term decreased quality of life for a much higher fraction of people that the lockdowns/shutdowns will cause. At any rate, none of this was forced, certai…
There would also be the increase of all kind of death and disablement due to the breakdown of the medical system. So prob 1 month of all emergency cases wouldnt been treated. (Pulling this number out of thin air, maybe somebody has a good source)
I'm my early 20s and in the UK. I earn more than my Dad who is in his 50s. He managed to get a house, have money left over for an expensive hobby, decent car, the odd holiday etc. I'm a 90th percentile earner. Will 95+ percentile earner in a few years time. Yet it feels like I am not as well off as I should be. I don't live in an expensive area either. Yet I need to save so much money to even have the opportunity to…
High tax rates are what causes this. You are effectively giving away half your wage to sustain a completely unknown person leeching off the government.
Earlier quoted context omitted.
Is refinancing not a thing in Europe?
At least in Germany, it's common to have a fixed interest rate for up to 30 years (more common are 10 and 20, 30 is rare). You can refinance, but you have to basically pay a fee that covers the expected loss for the bank, so that may not be worth it. Other countries differ, for example AFAIR it was common in Poland to have housing credits pegged to the swiss franc. However, I'm fairly certain that the GP is exaggerat…
Often consumers with weak credit or low incomes end up with loans that have worse terms, such as these penalties.
My family refinanced our home loan, and it was just a matter of going to the bank and signing the paperwork that they filled out for us. It took less than an hour, and the ROI was not hard to compute.
Millennials face a very real risk of being a lost generation financially. They have endured 2 major, years long recessions, and now the Covid pandemic coupled with social isolation and massive unemployment that does not appear to have an end date in sight. Housing is more expensive for them than prior generations, wages are stagnant, school is expensive and social conflict is also currently on deck. WW2 was of course…
Anecdotally at least, all of my friends around my age (32) have by now managed to buy homes at very reasonable rates ( Meanwhile my parents are stuck with their much higher 10% boom years interest rate, even though the absolute amount was much lower initially. Of course this is in Europe, not the states.
Chiming in with the rest here. Moved in with my parents, and honestly I think this is great. I've traded in a bit of freedom for much healthier meals and people to talk with. I'm also saving a ton on rent, to the point where I'm throwing in nearly 70% of my paycheck into savings. I'm not thinking of keeping this up in the long term, but I'm glad I did this for now.
Exactly. If you have the opportunity take it. In other parts of the planet there isn't this weird pride that means the only way to assert independence is by having your own place. Most parents are happy that you just keep the area clean and chip in for groceries and rent. What's so bad about that? I guess it's only a bummer when you wanna get laid, but there's probably ways around that.
My parents suck and I want nothing to do with them really
Everything in my life is better the less I deal with them
Everything
I'm my early 20s and in the UK. I earn more than my Dad who is in his 50s. He managed to get a house, have money left over for an expensive hobby, decent car, the odd holiday etc. I'm a 90th percentile earner. Will 95+ percentile earner in a few years time. Yet it feels like I am not as well off as I should be. I don't live in an expensive area either. Yet I need to save so much money to even have the opportunity to…
High tax rates are what causes this. You are effectively giving away half your wage to sustain a completely unknown person leeching off the government.
Historically rate of taxes were not much different than they are now, whether for North America or the UK.
Millennials face a very real risk of being a lost generation financially. They have endured 2 major, years long recessions, and now the Covid pandemic coupled with social isolation and massive unemployment that does not appear to have an end date in sight. Housing is more expensive for them than prior generations, wages are stagnant, school is expensive and social conflict is also currently on deck. WW2 was of course…
Can we please stop with the term "Millennials"? The article talks about 18-29 year olds. The most widely accepted definition of Millennials is people born 1981 to 1996, which would be 24-39 year olds. Not the same. Regardless, the financial differences between people the exact same age are always vastly larger than the financial difference between so-called "generations".