Central Belt Caley Posted March 24 Share Posted March 24 13 minutes ago, Florentine_Pogen said: However, the one time when I struggled to keep the heid was when my daughter was at uni and she moved into a flat in Edinburgh which had been bought for her pal by her parents, but they were only keeping it for the duration of her course. There were 5 students in this place, I'm positive they didn't apply for an HMO licence, and four of the students were covering the mortgage. Blood pressure was through the roof for a few days. Similar scenario with a guy on my course at uni. His parents, who lived in Dubai, bought a flat and covered the mortgage and his pal (they were stuck at the hip, never see one without the other etc) moved into the 2nd bedroom paying rent. But they then turfed him out in the middle of a semester when the mum decided she wanted to come and live in Edinburgh for a few months The two of them never spoke to each other again after that 0 Quote Link to comment Share on other sites More sharing options...
alta-pete Posted March 24 Share Posted March 24 1 hour ago, Central Belt Caley said: Similar scenario with a guy on my course at uni. His parents, who lived in Dubai, bought a flat and covered the mortgage and his pal (they were stuck at the hip, never see one without the other etc) moved into the 2nd bedroom paying rent. But they then turfed him out in the middle of a semester when the mum decided she wanted to come and live in Edinburgh for a few months The two of them never spoke to each other again after that Think the boy missed a trick. He could’ve offered to share with her. 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted March 24 Share Posted March 24 8 minutes ago, alta-pete said: Think the boy missed a trick. He could’ve offered to share with her. You just can't get rid of that Liz n' Damien imagery, can you ? 0 Quote Link to comment Share on other sites More sharing options...
alta-pete Posted March 24 Share Posted March 24 15 minutes ago, Florentine_Pogen said: You just can't get rid of that Liz n' Damien imagery, can you ? Rich milfy type with a decent tan - what’s not to love about that when you’re a horned up student? With bonus points as it’s yer pal’s maw. 1 Quote Link to comment Share on other sites More sharing options...
BFTD Posted March 24 Share Posted March 24 2 hours ago, Florentine_Pogen said: Just a wee addition to VG's post. My situation is almost identical and I have always liked to think I am not materially / consumer driven and that I try hard not to begrudge those who have been lucky to have been handed a better set of 'life cards'. However, the one time when I struggled to keep the heid was when my daughter was at uni and she moved into a flat in Edinburgh which had been bought for her pal by her parents, but they were only keeping it for the duration of her course. There were 5 students in this place, I'm positive they didn't apply for an HMO licence, and four of the students were covering the mortgage. Blood pressure was through the roof for a few days. Lassie I knew many moons ago went to school with a few toffs. She went to university in Edinburgh with a bunch of her schoolmates, one of whom had a very wealthy father. He bought his son a large city centre flat to stay in with up to four of his friends, including the girl I knew. I believe it cost a seven-figure sum, and he was a cash buyer. The idea was that the son could sell the place once he graduated, as the father didn't need the money. My friend ended up staying in halls as the father suddenly started talking about market rate rent arrangements with his son's childhood friends and it was too expensive for her to afford. Apparently he was a bit annoyed and said he'd have bought a smaller place if he'd known they were going to make other arrangements. 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted March 24 Share Posted March 24 1 hour ago, alta-pete said: Rich milfy type with a decent tan - what’s not to love about that when you’re a horned up student? With bonus points as it’s yer pal’s maw. Good point, well made. 0 Quote Link to comment Share on other sites More sharing options...
alta-pete Posted March 24 Share Posted March 24 9 minutes ago, Florentine_Pogen said: Good point, well made. Since posting that it’s been troubling me that, 30 years down the line from me being a horned up student myself, this is still my immediate train of thought. 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted March 24 Share Posted March 24 4 minutes ago, alta-pete said: Since posting that it’s been troubling me that, 30 years down the line from me being a horned up student myself, this is still my immediate train of thought. I am jealous. Wait till you get to my age, you whippersnapper, and these remembrances regarding your 'Queen of Perversions' (copyright Roger Sterling) will be a dim & distant memory. 1 Quote Link to comment Share on other sites More sharing options...
highlandmac Posted March 24 Share Posted March 24 3 hours ago, BFTD said: Lassie I knew many moons ago went to school with a few toffs. She went to university in Edinburgh with a bunch of her schoolmates, one of whom had a very wealthy father. He bought his son a large city centre flat to stay in with up to four of his friends, including the girl I knew. I believe it cost a seven-figure sum, and he was a cash buyer. The idea was that the son could sell the place once he graduated, as the father didn't need the money. My friend ended up staying in halls as the father suddenly started talking about market rate rent arrangements with his son's childhood friends and it was too expensive for her to afford. Apparently he was a bit annoyed and said he'd have bought a smaller place if he'd known they were going to make other arrangements. Said it before on this thread but I'll say it again -what a c**t 0 Quote Link to comment Share on other sites More sharing options...
scottsdad Posted March 24 Share Posted March 24 1 minute ago, highlandmac said: Said it before on this thread but I'll say it again -what a c**t Naw. @BFTD is a good guy. 0 Quote Link to comment Share on other sites More sharing options...
Melanius Mullarkey Posted March 24 Share Posted March 24 3 hours ago, alta-pete said: Rich milfy type with a decent tan - what’s not to love about that when you’re a horned up student? With bonus points as it’s yer pal’s maw. Reality when the doorbell rings. 0 Quote Link to comment Share on other sites More sharing options...
Florentine_Pogen Posted March 24 Share Posted March 24 (edited) ^^^^ Worzel Gummidge drives a Jazzy when on holiday ??? Who could have guessed ? Edited March 24 by Florentine_Pogen 0 Quote Link to comment Share on other sites More sharing options...
Thane of Cawdor Posted March 24 Share Posted March 24 Many years ago I read (or possibly saw) an interview with Tony Benn where he explained his views on inherited wealth. Tony was against it, but would leave it up to his children to decide. I don't know what Hilary and Melissa did with their inheritance, but their brother is now Viscount Stansgate. 0 Quote Link to comment Share on other sites More sharing options...
SH Panda Posted March 25 Share Posted March 25 14 hours ago, Granny Danger said: Threads like this highlight the disparity between people who are fundamentally the same but whose life experiences and personal circumstances are quite different. We live in a society where one third of adults have less than £1,000 of savings and could be in severe financial difficulties if they encountered any sort of personal financial emergency and yet many others recognise that personal wealth of £1m is neither unusual or excessive. A lot of it is to do with peoples lived experiences. I can concurrently understand why some people might think £100k a year or £1m isn't that much compared to those around them, whilst appreciating that for most of the world that is an obscene amount of money that they will never attain. Consider this, the average worldwide income for an individual is just under $10k (around £5,745). The median household income is far smaller at £2,315. To put yourself in the top 1% of individuals globally (without kids), you would need to earn a pre tax UK income of around £67,000. Pretty high undoubtedly, but the UK median salary is £35k. Just being from a rich country makes you far wealthier than most of the world. And this isn't compared to the poorest people, this is compared to the worldwide average. Does this mean that life in the rich countries is easy? Clearly not, people struggle all the time, including to feed themselves and keep themselves warm. As pointed out, a huge proportion of people in the rich world have no savings at all. But most of the world reading this thread, 80% of the worlds population having never been on a plane before, will struggle to understand the financial challenges of people from rich countries. Now back to Mr £100k, a decent % of high income people have absolutely no idea how to manage their money - a shocking amount will live paycheck to paycheck. If they are surrounded by people who earn more than them, and they try to match that lifestyle, I can totally see how they would feel squeezed. Do I feel sorry for them? Not at all, they need a reality check and some financial education. Suffering at that level of income is a choice. But from a psychological perspective I understand, it's a very human emotion. You don't have to look far to find rich people drastically unhappy with their lot in life, and poorer people who are very content. As for inheritance tax, if society thinks equity is something we should strive for (I definitely think we should) it should be 100%. And it should be accompanied by a pretty strict wealth tax. 5 Quote Link to comment Share on other sites More sharing options...
TxRover Posted March 25 Share Posted March 25 8 hours ago, alta-pete said: Since posting that it’s been troubling me that, 30 years down the line from me being a horned up student myself, this is still my immediate train of thought. Sounds like GMILF territory… 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted March 25 Share Posted March 25 (edited) 6 hours ago, SH Panda said: A lot of it is to do with peoples lived experiences. I can concurrently understand why some people might think £100k a year or £1m isn't that much compared to those around them, whilst appreciating that for most of the world that is an obscene amount of money that they will never attain. Consider this, the average worldwide income for an individual is just under $10k (around £5,745). The median household income is far smaller at £2,315. To put yourself in the top 1% of individuals globally (without kids), you would need to earn a pre tax UK income of around £67,000. Pretty high undoubtedly, but the UK median salary is £35k. Just being from a rich country makes you far wealthier than most of the world. And this isn't compared to the poorest people, this is compared to the worldwide average. Does this mean that life in the rich countries is easy? Clearly not, people struggle all the time, including to feed themselves and keep themselves warm. As pointed out, a huge proportion of people in the rich world have no savings at all. But most of the world reading this thread, 80% of the worlds population having never been on a plane before, will struggle to understand the financial challenges of people from rich countries. Now back to Mr £100k, a decent % of high income people have absolutely no idea how to manage their money - a shocking amount will live paycheck to paycheck. If they are surrounded by people who earn more than them, and they try to match that lifestyle, I can totally see how they would feel squeezed. Do I feel sorry for them? Not at all, they need a reality check and some financial education. Suffering at that level of income is a choice. But from a psychological perspective I understand, it's a very human emotion. You don't have to look far to find rich people drastically unhappy with their lot in life, and poorer people who are very content. As for inheritance tax, if society thinks equity is something we should strive for (I definitely think we should) it should be 100%. And it should be accompanied by a pretty strict wealth tax. Not sure if looking at wealth/earnings in U.K. or any other similar country and comparing it global wealth and earnings is practical within the context of this discussion. I also think that a 100% inheritance tax is fanciful and would have virtually no support. That would mean someone who has worked hard all their days and leaving a modest sum (say for discussions sake £20k or £50k) to their kids would be treated the same as someone leaving £10m. It would also be fairly easily circumvented. Surely a more practical and enforceable process would be more desirable and gain more support. Something that is based on a progressive scale rather than across the board. Edited March 25 by Granny Danger 1 Quote Link to comment Share on other sites More sharing options...
BFTD Posted March 25 Share Posted March 25 (edited) Presumably if there was a 100% inheritance tax, it would primarily affect people with tens/hundreds of thousands in the bank, as anyone with more than that would distribute most of their wealth to their offsprings' savings while still alive (if they gave a shit). Basically what I notice Granny Danger's just beaten me to the punch with Edit: my father's recently been making noises about gifting me some of his money to bring his savings under the threshold that the Daily Mail have told him that Starmer's socialist government will use to confiscate the wealth of Britain's pensioners. No, I am not kidding - at least one person believes that Sir Keef is a socialist. Edited March 25 by BFTD 2 Quote Link to comment Share on other sites More sharing options...
ICTChris Posted March 25 Author Share Posted March 25 ONS article about inheritences https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/articles/intergenerationaltransfersthedistributionofinheritancesgiftsandloans/2018-10-30/ Quote The median inheritance amount received by those who reported receiving an inheritance of the value of £1,000 or over in the last two years was £11,000 0 Quote Link to comment Share on other sites More sharing options...
Jacksgranda Posted March 25 Share Posted March 25 7 hours ago, SH Panda said: A lot of it is to do with peoples lived experiences. I can concurrently understand why some people might think £100k a year or £1m isn't that much compared to those around them, whilst appreciating that for most of the world that is an obscene amount of money that they will never attain. Consider this, the average worldwide income for an individual is just under $10k (around £5,745). The median household income is far smaller at £2,315. To put yourself in the top 1% of individuals globally (without kids), you would need to earn a pre tax UK income of around £67,000. Pretty high undoubtedly, but the UK median salary is £35k. Just being from a rich country makes you far wealthier than most of the world. And this isn't compared to the poorest people, this is compared to the worldwide average. Does this mean that life in the rich countries is easy? Clearly not, people struggle all the time, including to feed themselves and keep themselves warm. As pointed out, a huge proportion of people in the rich world have no savings at all. But most of the world reading this thread, 80% of the worlds population having never been on a plane before, will struggle to understand the financial challenges of people from rich countries. Now back to Mr £100k, a decent % of high income people have absolutely no idea how to manage their money - a shocking amount will live paycheck to paycheck. If they are surrounded by people who earn more than them, and they try to match that lifestyle, I can totally see how they would feel squeezed. Do I feel sorry for them? Not at all, they need a reality check and some financial education. Suffering at that level of income is a choice. But from a psychological perspective I understand, it's a very human emotion. You don't have to look far to find rich people drastically unhappy with their lot in life, and poorer people who are very content. As for inheritance tax, if society thinks equity is something we should strive for (I definitely think we should) it should be 100%. And it should be accompanied by a pretty strict wealth tax. "paycheque" 2 Quote Link to comment Share on other sites More sharing options...
Shadow Play Posted March 25 Share Posted March 25 11 hours ago, Thane of Cawdor said: Many years ago I read (or possibly saw) an interview with Tony Benn where he explained his views on inherited wealth. Tony was against it, but would leave it up to his children to decide. I don't know what Hilary and Melissa did with their inheritance, but their brother is now Viscount Stansgate. Tony Benn regularly stated how unfair inherited wealth was. He left his 4 children just over £1M each before inheritance tax. His financial affairs were also arranged in such a way as to reduce the inheritance tax payable. It is understood that he used trust/s and the Acceptance in Lieu Scheme (donating a record of your posts on P&B to the British Museum is unlikely to be accepted under this scheme…) 1 Quote Link to comment Share on other sites More sharing options...
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