Do you feel you are wealthier than your parents?

Yes, I’m wealthier than my parents, and my parents were wealthier than their parents. But it’s more to do with chosen occupation than any generational shift.

My grandfather was a bricklayer and fed 7 kids, so times were tough, my father was an engineer who fed 3 kids, so times were not as tough as his upbringing but not wealthy, I’m a senior manager feeding two kids (and my wife is an accountant) so we have a far easier lifestyle financially than my folks did, but the trade off is we’re busy as hell.

If I look at my childhood, there were poor kids, middle class kids and a couple of rich kids. If I look at my peers now, a few are struggling, most are middle class, and a couple are rich. No different to when I was growing up.

However, when my parents were growing up, they hardly knew any wealthy/rich people.

I don’t really buy into the “times are harder for young people these days than they used to be” - even though property has become more expensive, access to information on how to make money is far more accessible than it ever was. I couldn’t buy a house until my early thirties either, and then had to buy in a starter suburb. Same with my parents. I think people are more impatient, and maybe a bit more entitled, now.

Just some thoughts…

/r/AusFinance Thread