Why Are Younger People Against The Triple Lock

[indeedido]

I agree with most of what you are saying here.
You must be very proud of your kids but it is just one example, the general trend is that most of their cohort will not achieve what they have.
When you look at things on a national level, generalisation is inevitable and needed; individual case studies, do little counter the fact that statistically this generation are much poorer in real terms. We have all seen periods of decline and financial depression but the projection for that cohort is long-term struggles, low spending power, expensive entry to home ownership and little job security.

Nobody is arguing that pensioners should not be looked after, I think what most are asking for is some balance and fairness.

All people not of inherited wealth, but especially, 18-30 year olds, pensioners, infrastructure workers, essential public servants like the NHS, unemployed and low earners deserve a better deal.

Again we overlap a lot, but my lads are not unusual amongst my friends and peer group of Boomers.
What I do know is that I think some of Boomers' children have been much more indulged than we were as children, or any other gen before. They have much much higher expectation.

I totally get that house prices, interest rates, cost of living pressures, wage suppression beneath the Board room, AI and automation are all concocting an unpalatable cocktail for too many young people.
My lads will be OK and I don't mind them experiencing some pressure.
My worry is for the youngsters who don't have the parental support or future inheritance.

 

[LaPennaBianca]

I particularly loved the crash of 2008, the timing was perfect for baby boomers and their families followed by a decade of austerity,

The 17 years of above average inflation payrises before 2008 probably would've been alright, mind. Nevermind those that entered the workforce afterwards.

No millennial or Gen Z got to experience that.

Let alone the price of houses increasing tenfold. Or the defined benefit pension schemes (that are paid for by today's contributors).

See below. It's Baby boomers that vote for the party and the policies that have kept the blue line below the red one... since 2008

 

[asredastheycome]

What steps are these? You need to be really careful as loads of bad advice out there about transferring assets etc but it will all be looked at and it can be deemed purposeful deprivation of assets and all undone. There's even no time limit on it so if you give your son 50k now they can look back on that.

What I am looking into is a home protection plan. Not for now but if I live longer (69 now) or stay out of a home until I spend all by savings/investments etc its to protect my house for my son. Not signed up to anything yet but something I am looking at. If I had to go into care now they would take it from my pension, savings etc but if a dodder about another 10 years that could be gone. So its something I have been looking at and if you have any information feel free to post it.