Life passing by people in their 30s

Greyfox

https://www.boards.ie/discussion/comment/121270953#Comment_121270953

Expecting people to pay for their pension in theirs 20's is not been realistic, people in their 20's don't even know who they are yet. Also saving for a house before you've met the right person is very very difficult when theirs a constant barage of ads telling you to buy this and be like that. Saving money is a good plan but enjoying your youth is also very important

Kurooi

I will state the obvious, it's salaries that decide quality of life. Several of my well off friends partied and pissed away money all their 20s and to then calm down for a few months to put a deposit together and buy a house.

You have this freedom to manage your life if you're on 100k+ solo or combined salary. And you can indeed have your cake and eat it. But the average young person sitting on 30-40k salary doesn't have that choice, suggesting here they are poor because they lived a hedonistic lifestyle is ignorant as hell. It's not fun living on bare minimum, it's not motivating to save 1/100th of a deposit each month and watch it dwindle by inflation, it's pointless to try and buy a house when the cost of one is 2-3x what you can ever put together.

Things are **** and life is unfair, you don't need to beat down the poor or pat the rich on the back.

Murph85

I know one thing for sure! you can forget going to college these days, winging it on some degree, that will earn you a crap wage when you graduate or a few years after it. The choice is now high salary or merely exist for most of us...

agree with the above post, but I think people also now need to accept, that a few years ago 30-40k was very different, than it is now... I think many will now graduate college, emigrate for a few years, enjoy a much better weather, outdoor lifestyle, experiences than they would have here, save up tens of thousands if in the middle east etc and then return here at some stage and be in a position to buy..

with things going they way they are, there will be more emigration and more parental bailouts to afford property

gameoverdude

https://www.boards.ie/discussion/comment/121271020#Comment_121271020

Completely acceptable for kids in their 20s to provision their pension. Parents need to parent.

I was 22 when I started my pension. Yes, I was a gobshite kid, but I was someway educated.

I'm sick of paying for useless layabouts believing they're entitled to free dosh. Of course there are a few who deserve more. Happily support them.

Padre_Pio

https://www.boards.ie/discussion/comment/121271011#Comment_121271011

I never said you can't enjoy yourself. I said you have to cut your cloth.

What's the point of having a great time and living large in your 20s, then living at home with your life on pause or caught in a rental trap well into your 30s?

Greyfox

https://www.boards.ie/discussion/comment/121271113#Comment_121271113

If you get a decent job in your 20's you should but most people take longer to get a decent job. When you're 25 retirement feels like it's 100 years away so it's hard to think about it, I'm 42 now and been 70 doesn't feel that far away

gameoverdude

https://www.boards.ie/discussion/comment/121271235#Comment_121271235

I know how you feel. Just a few years older.

Kids need to enjoy themselves. I know I did. A pension is a must though. You won't miss at the of the month quite quickly.

Peter Flynt

https://www.boards.ie/discussion/comment/121271011#Comment_121271011

People on here are accusing others of enjoying themselves because they don't, won't or can't buy into a rigged market is really quite something.

They're not exactly flying on helicopters to Paris at the weekends. They're being told they shouldn't have a coffee ffs.

oceanman

the reality is we have to accept that a whole generation will never be home owners. thats just the new normal now.

Deeec

https://www.boards.ie/discussion/comment/121271269#Comment_121271269

Nobody is saying they cant enjoy themselves but they need to limit themselves. Its not uncommon now for a young person to have a holiday or weekend away once a month - thats excessive. There is no need for a young person to buy a spanking new car when they can buy a good second hand car. Do they really need designer everything? The level of spending I see with younger co-workers and relatives is out of control. Despite them having good jobs if they dont cop on they will find themselves in poor situation later in life because of it.

I have a few friends who lived good times in their 20s/30s and spent all they earned. They now find themselves struggling financially ( despite having good jobs ) because they wasted all their money on stuff they cant even remember. They now find buying in late 30's/40's is too late and they will struggle for the rest of their lives because of not saving when they were younger. Sadly some will never get out of the rental trap because of poor decisions in their 20's.Thats the reality now Im afraid Peter.

Young people can still enjoy themselves and save - they just have to be sensible about what they can afford and maybe knocking a few luxaries on the head..

chuchuchu

I tought young people going out paying at restaurants/bars/events would be a good thing as it generates jobs and keeps money flowing in the economy. Don't think old people would go out as much as the young. Having said that, I've heard that pubs and restaurants are gradually closing down, they're too expensive anyway, what 9/10 euro for a pint in temple bar.

Ash.J.Williams

https://www.boards.ie/discussion/comment/121271021#Comment_121271021

100k now is certainly not what it was 5 years ago

Peter Flynt

https://www.boards.ie/discussion/comment/121271486#Comment_121271486

I don't subscribe to this at all.

There are many who enjoyed themselves out there who ended up buying gaffs for 100K or less .... raised a family and continue to enjoy themselves.

Padre_Pio

https://www.boards.ie/discussion/comment/121271729#Comment_121271729

When? The 1990s?

Peter Flynt

https://www.boards.ie/discussion/comment/121271761#Comment_121271761

Yes....and for a few years post 2008 when the economy collapsed.

Some of you need to cop on here.

The housing market is rigged. Stop blaming young people who are the victims of this rigging.

Padre_Pio

https://www.boards.ie/discussion/comment/121271837#Comment_121271837

Not blaming young people for anything.

I'm saying that harking back to a time when houses were cheap 30 years ago, or a brief period during the financial crisis is a wasted effort.

Housing in Ireland has been expensive for the past 20 years, except for 5 years 2009-2014 where people with houses didn't want to sell them and people without houses found it hard to get a mortgage to buy them.

If you want to buy a house and can't afford it, you either save harder, get a better job, find someone to share the burden with, or move to an area where housing is cheaper.

I understand that my advice is nothing new, and I apologize if you find it insulting, but that's the reality. It's pretty sh*t , but IMO this will not get better, at least for another 5 years, no matter what government is in power.

If this doesn't suit you, then live at home or emigrate somewhere cheaper. Unfortunately many other places have similar issues, but there are always options.

Donald Trump

https://www.boards.ie/discussion/comment/121271113#Comment_121271113

I was 22 when I started my pension.

Is that because you walked into a permanent job at 22 which came with the default gold plated pension at that time - that being one that very few, if any, jobs would be providing for even relatively senior employees in their 30's these days?

French Toast

I turn 30 in a couple of weeks. Eyeing up a change in careers and need to lose 2-3 stone but aside from that things are going OK.

Rubberchikken

I don't think houses were cheap 30/40 years ago. Depending on what someone was warning then plus maybe more inclined to have had kids early, the cost is all relative.

Maybe people's attitudes need to change. Ia it absolutely vital to own a property. Not everyone wants to.

But the government needs to step up and start ensuring that properly built affordable.rental apartments are provided and not just in Dublin.

Padre_Pio

https://www.boards.ie/discussion/comment/121271913#Comment_121271913

The IDA says there are 300k people employed by MNCs in Ireland, and I would well believe the vast majority are on pension plans with employer contributions.

Add in the 380k employed in the public sector and a decent % of people would at least have the choice of starting a pension.

I think your claim of few if any jobs providing pensions well off the mark.

kirk.

https://www.boards.ie/discussion/comment/121270384#Comment_121270384

Not correct for early 2000s anyhow

Donald Trump

https://www.boards.ie/discussion/comment/121271963#Comment_121271963

I left out the words "gold plated".

Most pensions these days are DC. Back in the day there were lots of (relative to today) gold plated DB pensions from State employers in particular

(Employers have to provide access to pensions)

pgj2015

https://www.boards.ie/discussion/comment/121271182#Comment_121271182

Because its harder to party in your 40's, 50's etc most of your friends will have settled down and become boring.

I partied in my 20s while in college and until around 32, then I started a business, thats the way to go in my opinion, you dont have to struggle on 30 or 40 k per year working for a soulless company and ar$ehole boss. dont blame the government, they dont care and wont help.

im still trying to party a bit but its harder in late 30s because a lot of people become old before their time.

dont worry about a pension in your 20s, Duncan Banatyne had nothing at 30 years old.

con___manx1

https://www.boards.ie/discussion/comment/121270384#Comment_121270384

The early 2000s houses were not that cheap. It was the celtic tiger time. Houses We're not far off what the prices are now in some places in ireland anyway

Padre_Pio

https://www.boards.ie/discussion/comment/121272033#Comment_121272033

Get a job that pays well.

Sounds basic, but that's my advice. Focus on a career that's give you a salary of 70k+ by the time you're 30 and all the better if you get bonuses,healthcare and pension contributions etc.

I've been poor in my early 20s and rich in my early 30s. I'm having a much better time in early 30s.

Housing, cost of living, childcare etc do not affect me or my partner.

YouTube has plenty of financial content covering investing, growing wealth and financial responsibility.

mariaalice

A big whiff of self-indulgence from that article.

With a new 2-bedroom terrace 46km from Dublin costing 380k, it is hard going for young people.

My solution is a mass building of much smaller apartments 35sqm It would be basic and small and cheap to live in, have good storage, and around 200k for someone on 40k the mortgage would be maybe 40% of their income but at least it would be their own space.

pgj2015

https://www.boards.ie/discussion/comment/121272033#Comment_121272033

Work for yourself, thats it.

You will never be rich working for someone else.

https://www.boards.ie/discussion/comment/121272456#Comment_121272456

Considering you are acting the Billy big boll*x on this thread, it’s cute you think 70k is a big salary in Ireland in 2023.

Jim2007

https://www.boards.ie/discussion/comment/121270289#Comment_121270289

So who do you think makes political policies and elect these people if not the voters then?

The reality is that these politicians get re-elected time and time again because they represent they views of the voters. Nobody in Ireland is interested in a solution to the housing crisis that does not involve them getting to own a house just like they are no will to properly fund the healthcare services they demand. If people changed their demands tomorrow, the parties would change tack the day after.

This stuff does not happen by magic, Ireland’s PR system does a good job in representing the views of the voters and the excuses put forward as to why it does not are just that - attempts to find solas in being rejected by the voters.

monseiur

https://www.boards.ie/discussion/comment/121271072#Comment_121271072

Murph you touched on something shall we say 'interesting' in your first paragraph. The average family size is now 2 or perhaps 3 max. So little Johnny and/or Mary has to go to college, get a degree and in turn expects a cushy high paying job like bygone days. The fact is that third level colleges are churning out degree holders by the bus load without a day's work experience and companies can pick & choose and are recruiting them at knock down salaries.

Today's parents should consider directing a % of their sprogs away from third level degrees & towards trades like plumbing, electricians etc. Granted there are peaks & troughs in the construction trade but most trades lads I know, some under 30, are self employed, have built their own houses etc. and can afford regular holidays, weekends away etc. Trades men are always in demand and there's always the opportunity for cash jobs 😊

A friend of mine, he's a plumber, was home from Australia four weeks ago for his sisters wedding. His boss offered to pay for his return trip if he managed to recruit two or more plumbers in Ireland to work for him down under, a minimum of three years work guaranteed - their travel expenses would also be paid. Needless to say he did not succeed, had he been looking for third level graduates with some degree or other but with no 'real life' work experience he could fill half a plane no problem. I lived in the US for over 10 years and trades people and manual workers in general are held in much higher esteem than here and it's reflected in their wages ! Time for an adjustment and refocus in our education system me thinks👍