We tackle a topic that has received countless media coverage over recent years.
In one way or another, most commentary implies that the future is bleak, and young people are screwed since there are so many factors working against us.
In fact, most casual observers would agree with this statement without even questioning it. But is this true? We unpack the arguments today and share our thoughts.
(or download the mp3 file here)
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Lizzie changed her career, moved location, sold her home and switched investment strategy. Now she’s looking to semi-retire in her 30s.
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Thanks for the podcast. Love listening to you guys. I do think young people have more pressure at work than in the past. I think there is more time pressure particularly. Not really a financial issue, but more of a mental health one. Also I shop at the Perth IGA too.
Haha hooray for our single IGA in the West 😉
Thanks so much for tuning in!
That’s possibly true. Although there is interesting data to show our working hours have (on average) actually gotten slightly less over time. Given how ‘brain-based’ our jobs have become, I definitely think that affects our mental health and stress levels as you say, versus more physical jobs of the past. But you might be meaning ‘time pressure’ in terms of workplace productivity/targets which is likely true too, as this is more of a focus in recent decades.
Hi Dave,
Awesome job on the episode as usual. I’ve been listening to the fire and chill pod for the last year and I’m not too sure if this is the right place to pose questions, but here goes:
I am currently in the accumulation phase, therefore, I have a higher risk tolerance, with the majority of my assets in growth ETFS (such as NDQ, ASIA, etc). 5-10 years down the road from now, I’d like to be holding less volatile dividend ETFs. In both your experiences, how did you deal with the capital gain tax component of the transition? Do you guys recommend spreading it out over x number of years or to just do a lump-sump transition?
Hey Benjamin. Thanks very much mate, great to hear you’re enjoying the show!
Yep this is a good place. There’s actually quite a few parts to discuss with this question, so I’ll jot this down and we’ll cover it in a future listener questions episode 🙂
Great podcast guys.
The last few years have been hard on a lot of people. My family live overseas and my dad passed away last year and I couldn’t be there but what can you do but get on with it.
I think there is a lot to be said for mindset and having a positive attitude. A lot of people make excuses for not achieving what they want in life.
You have choices in life if you choose to spend your weekly pay or save your weekly pay that is your choice but don’t blame others for your choice.
Surround yourself with positive people and be inspired by those who make the most of their opportunities.
Cheers Bianca 🙂 Sorry to hear about that, it certainly has been a rough period for many people for multiple reasons.
Thanks for sharing your words of wisdom, very true and 100% agree!
Hey Dave
Great podcast as always, straight down the line with some hard truths our generation of young people need to hear
Everytime I visit my ol’ home these days there’s always few more cafes. Hell there’s even an ALDI in town. Regional growth is good for everyone.
Thanks, glad you enjoyed it! You know the town has hit the big time when an Aldi pops up and extra cafes open 😉 Everyone was super excited in my old home town when Aldi opened, we’ve even got a Bunnings now too haha.
Re all the boomers owning property. I think people forget that at some point those assets likely get passed down to the 20 or 30 somethings.
So over time things will balance out.
Young uneducated with poor parents are always going to have a hard slog…
Yeah absolutely, we felt that was worth pointing out in the pod.
Hi Dave and Pat
Great Podcast, I find this topic interesting. I found that when I talked to my grandmother or my parents. They always believed that their generation had it the hardest.
My parents (boomers) always talk about how bad interest rates were and how expensive it was to travel. My grandma often talked about WWII and rationing etc.
One key point that was missed in the podcast, was that in the past there was a greater amount of discrimination against, Women, Disabled people, Migrants etc. Just being alive today and if you are a young person this group. You will have better opportunities than in the past as this type of discrimination is not as prevalent.
I think each generation has its own unique challenges and it is just so hard to compare now to what happened in the past. I agree with the overall theme of the podcast, you just need to check the facts and frame it in the best way you can and get on with things.
Thanks for your thoughts 🙂 You’re right, the world and life has changed in far more ways than we could get into in the podcast, mostly for the better!
It could also be partly human nature to discount other people’s problems (especially those from the past) and think our own challenges are greater.