Mister G Posted May 3, 2016 Report Share Posted May 3, 2016 Congrats Mr G! I bet you are happy one of them has "put the stem on the ole apple"? HH Yaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa Link to comment Share on other sites More sharing options...
Old Ironmaker Posted May 3, 2016 Report Share Posted May 3, 2016 There is no doubt that most working class baby boomers kids to be the first to get a post secondary education, and graduate. Every one of my 7 nieces and nephews all have a degree of some sort but more importantly are all doing very well and not just financially. I am having trouble naming one of my second cousins that don't have a degree. There are a few Medical Doctors and a Lawyer now in the family. I think we knew the importance of a post secondary education for our kids whereas our Great Generation parents didn't feel the same. Going off to College or University was not as accessible to working class families in the 70's and 80's. I was told I wasn't good enough to go to University and they wouldn't waste their money, many times by my own father. If I didn't get a scholarship I would have never seen the inside of a College. Exactly the opposite of what we told all of our children. Link to comment Share on other sites More sharing options...
Mister G Posted May 3, 2016 Report Share Posted May 3, 2016 There is no doubt that most working class baby boomers kids to be the first to get a post secondary education, and graduate. Every one of my 7 nieces and nephews all have a degree of some sort but more importantly are all doing very well and not just financially. I am having trouble naming one of my second cousins that don't have a degree. There are a few Medical Doctors and a Lawyer now in the family. I think we knew the importance of a post secondary education for our kids whereas our Great Generation parents didn't feel the same. Going off to College or University was not as accessible to working class families in the 70's and 80's. I was told I wasn't good enough to go to University and they wouldn't waste their money, many times by my own father. If I didn't get a scholarship I would have never seen the inside of a College. Exactly the opposite of what we told all of our children. I worked very hard in a industry job that had me on call 24/7/365 and missed many Christmas's, New Year's Eve party (wife waiting in her gown to dance the night away) not to mention birthday parties, and other holiday's.............when we had our first son I made a promise to myself that my children would NOT have to work like that and got a better education then I had and once they graduated they had careers NOT jobs in their future. Between the four us we delivered on that promise and now I can sleep nights knowing our children and grandchildren are well taking care of. I sure a little luck was also involved but mostly a lot of hard work in school that the boys did to make this all possible. Link to comment Share on other sites More sharing options...
misfish Posted May 3, 2016 Report Share Posted May 3, 2016 So whats wrong with young people these days? Whats wrong with the parents that brought up these young people? What wrong with these over 50 people? I just deleted about a half hour type up. The bottom line I think here is,,,,,,,,,,, We do the best we can. We do more then we can at times. We teach what we can, the best we can. I can tell you one thing, I strongly feel both the mrs,s and I did the best we could. Once they become late teens, you cannot control them. You can only hope they have listened and learned. If they dont, then they are on thier own and LIFE, will give them the lesson now. Our oldest is learning the hard way, Nothing is given, you need to earn.One day I pray, this will be learned. Our youngest we are very proud of . No he,s no university grad, or some hot shot lawyer or DR. He is a young man that has become a great single father, and doing a great job of taking care of a very wonderfull daughter. He holds a job, pays for daycare , takes here to parks and fishing and swimming lessons. He reads to her. Ya, reads better then me. He treats her like a kid, but never over dose it. (Thats my job) Bottom line, there are those that want, and theres those that will do. I have one of each . So no matter the up bringing, they will either stay the path, or vere off it. Link to comment Share on other sites More sharing options...
Old Ironmaker Posted May 4, 2016 Report Share Posted May 4, 2016 (edited) I worked very hard in a industry job that had me on call 24/7/365 and missed many Christmas's, New Year's Eve party (wife waiting in her gown to dance the night away) not to mention birthday parties, and other holiday's.............when we had our first son I made a promise to myself that my children would NOT have to work like that and got a better education then I had and once they graduated they had careers NOT jobs in their future. Mr. G. That sounds like my autobiography. I needed to work a shift change to be a pall bearer in my favorite uncles funeral. Same for my brothers wedding. No fun working from 07:00 until 23:00 the day after that party. Christmas? New Years? Not even Tim Hortons was open. Too bad, so sad, all ancient history now, it was just what we did. There was a different attitude we took through adulthood than our parents that went through the depression and WW2 did. I just can not imagine what they went through then and have empathy for their entire generation. If some think there is a generation gap now they didn't live through the 60's and early 70's. I can't imagine what was going through my fathers head when we had hair past our shoulders and blasting the 8 tracks without a care in the world living and counting down for the day we could get a beginners. He was hiding from the Nazi's in the mountains as a 14 year old. I just can't imagine that, ever. I blamed him when I was younger, now I am ashamed of myself for that. By the way we just celebrated his 89th Birthday on April 22nd. I have to call him right now. Edited May 4, 2016 by Old Ironmaker Link to comment Share on other sites More sharing options...
Mister G Posted May 4, 2016 Report Share Posted May 4, 2016 Tell him Happy Birthday ! ! ! Link to comment Share on other sites More sharing options...
bigugli Posted May 4, 2016 Report Share Posted May 4, 2016 I think Brian hit it on the nail. We all choose to accept, or reject, the influences our elders have on us. Same goes for our children. I never had a father. A stepfather who was never a "Dad". Didn't fish, hunt, swing a hammer even, and was more married to his job than my mother. But I had fantastic uncles and a wonderful grandmother as I grew up. I chose to accept their influences and reject the role models of the stepfather and deadbeat dad. And there were some choices in life my mother was not thrilled with either. My kids have been taught what I could teach them in word and deed. It is entirely up to them what path they end up choosing. My kids did not start out as model sons and daughters. Like me, they've made mistakes aplenty. That's all part of growing and learning. I do see more and more of me and my values in them each and every day Link to comment Share on other sites More sharing options...
Old Ironmaker Posted May 4, 2016 Report Share Posted May 4, 2016 (edited) I had the pleasure to speak to your son Bruce when we got together in January in Hamilton. He is just chomping at the bit to get a chance to succeed and provide better for his family. Not everyone is able to, cares to or it just was not in the cards to get to University. Like I have said before when you and I were his age you took a bus down to Burlington Street, got off at the wrong stop and put in an application to work the next 30 or more years and get a pension. It has to be tough today, real tough. You have a good one there Bruce. I wish I was still in the loop. All my guys have retired now too. Edited May 4, 2016 by Old Ironmaker Link to comment Share on other sites More sharing options...
Steve Posted May 4, 2016 Report Share Posted May 4, 2016 Old Ironmaker, you sure have a good handle of what is going on out there... Maybe its because you worked in Hamilton, and understand the industry, but my gawd is it tougher for a kid than ever before. Walking off a bus, getting a lifetime job, with pension, and buying a house that is only 2x your annual salary is now a dream.... While those who did just that are blaming 'kids' these days :( Link to comment Share on other sites More sharing options...
glen Posted May 4, 2016 Report Share Posted May 4, 2016 Right on Steve. Billionaires want to pay as little as possible to thier workers so they can get rich. Link to comment Share on other sites More sharing options...
Mister G Posted May 4, 2016 Report Share Posted May 4, 2016 Right on Steve. Billionaires want to pay as little as possible to thier workers so they can get rich. REALLY............did you figure that out yourself or did someone here tell you that. Actually CEO's are committed to the stock holders of the company and NOT the work force and they have made me a LOT of money via my stock profolio .... Link to comment Share on other sites More sharing options...
dave524 Posted May 4, 2016 Report Share Posted May 4, 2016 Walking off a bus, getting a lifetime job, with pension, and buying a house that is only 2x your annual salary is now a dream.... I got one of those Hamilton lifetime jobs and the house that was 2 to 3 times my annual salary, retired now. But let me tell you the 19% mortgage rates of 1981 and double digit rates through the 80's was a nightmare, probably ate up as much or more of your income as the inflated prices today with the all time low rates of today, six or one half dozen of the other situation. Link to comment Share on other sites More sharing options...
Steve Posted May 4, 2016 Report Share Posted May 4, 2016 do the math. 19% interest rate on $50K vs 3% interest rate of $350K do it based on a 25 year standard mortgage. you will find the interest payment is LESS on the $50K mortgage, based on 19% interest rate than the 3% interest rate based on $350K mortgage. ($45K paid in interest during first term of the 19%/$50K option vs $49K in interest paid during first term of the 3%/$350K option). Not to mention the 50K mortgage is 1/7th the amount. So yes, it is much better to accept a high interest rate on a low amount than a low interest rate on high amount. Link to comment Share on other sites More sharing options...
dave524 Posted May 4, 2016 Report Share Posted May 4, 2016 do the math. 19% interest rate on $50K vs 3% interest rate of $350K do it based on a 25 year standard mortgage. you will find the interest payment is LESS on the $50K mortgage, based on 19% interest rate than the 3% interest rate based on $350K mortgage. ($45K paid in interest during first term of the 19%/$50K option vs $49K in interest paid during first term of the 3%/$350K option). Not to mention the 50K mortgage is 1/7th the amount. So yes, it is much better to accept a high interest rate on a low amount than a low interest rate on high amount. That is true Steve, but we were making but a fraction of the wages today. I started in 77 at just 5 and change an hour, maybe was making 10 in 1981, same wage scale as Stelco. Link to comment Share on other sites More sharing options...
Steve Posted May 4, 2016 Report Share Posted May 4, 2016 and that is the key. you were making 10 in 1981. house costs are 7x's as high now (and that is on the low side), but guys aren't making 7x's that 10 an hour.... kids are making roughly 3.5x's the wage with 7x's the housing cost (and overall cost of living) - effectively making it 2x's as hard to succeed. combined with less physical number of jobs available make it very tough on kids these days. now, what about the children of today? those who are newborn. If the 20 somethings of today are having it much tougher than you and I did, what about 20 years from now? I truly don't know that answer. Link to comment Share on other sites More sharing options...
leaf4 Posted May 5, 2016 Report Share Posted May 5, 2016 Also don't forget the way they front load the interest payments now so they make their _% guaranteed Link to comment Share on other sites More sharing options...
dave524 Posted May 5, 2016 Report Share Posted May 5, 2016 Mortgages always had the interest front loaded, 10 years in on a 20 year mortgage back then didn't mean you had reduced the principal by 50 %, not even close. 7X seems high, maybe in some markets ?? I don't see my 900 sq ft, , 2 bedroom bungalow being worth close to 400 grand. Link to comment Share on other sites More sharing options...
glen Posted May 5, 2016 Report Share Posted May 5, 2016 If the poor only had enough money to buy lots of stocks. Link to comment Share on other sites More sharing options...
ehg Posted May 5, 2016 Report Share Posted May 5, 2016 my own son; he is currently laid off, offered to hire him for a week $600.00 plus we'd spend some time fishing; "sorry dad, I'm too busy, I want to go smelt fishing!". Time to sell everything, move into a small low maint. place, change the will to leave nothing to the son (he doesn't seem to need or want any help). Old, tired, frustrated! Wow, I should have titled this thread "what's wrong with us old guys?" For the most part all I have heard is how hard the young guys have it and how us old guys think our life was hard! Guess this is a perfect example of the "generation gap". Us old guys expected to earn it, the young guys expect to get it! Hopefully you resolve your family issues, not just on a internet fishing board. 13 pages of reading has shown how most kids are working hard now with new technologies and massive amounts of information to filter. I am impressed with the kids these days. Link to comment Share on other sites More sharing options...
npt1 Posted May 5, 2016 Report Share Posted May 5, 2016 Cost of living in these days are horrendous for young folks, jobs are short lived and pay minimum wages , competition for employment is strong, Even so, back in the 1980's, mortgages were at 18 percent, not the current rate of 2.49 percent. I witnessed neighbors losing their homes because banks raised the interest rate , payments doubled and people could not afford it, banks don't care about people, only about the profit line. I see a depression coming soon when the banks raise the interest rate on all the mortgage money they have on the homes, forcing people to pay what they don't have. Income entering the home will not be enough to pay for mortgage payments, hydro increases, property taxes, home insurance, car payments, life insurance policys, cable, internet, heating, childrens school trips, home repairs, car maintenance and breakdowns,. Silly thing like groceries, hair cuts, not to mention--has anyone had a real vacation lately? Just my humble opinion but I pity the young generations of parents who have to pay and face all these and all unknown herdles in their way. Also --If divorce is in your future, realize that the cost is only the beginning--child support is ongoing and will be an item you will be have to deal with, its not easy and it goes on for years. you cant build a future when you past is a fact of life.\ In my humble opinion, been there and done that... Link to comment Share on other sites More sharing options...
chris.brock Posted May 5, 2016 Report Share Posted May 5, 2016 Just my humble opinion but I pity the young generations of parents who have to pay and face all these and all unknown herdles in their way. A couple weeks ago on 680 news, they said in Canada the average, all in cost to parents, to raise one child from birth to 18 years of age is $275 000. I found that surprising. Link to comment Share on other sites More sharing options...
dave524 Posted May 5, 2016 Report Share Posted May 5, 2016 A couple weeks ago on 680 news, they said in Canada the average, all in cost to parents, to raise one child from birth to 18 years of age is $275 000. I found that surprising. Only had a stepdaughter from 12 on but that seems high, maybe if they said to age 25 when they move out if you are lucky Link to comment Share on other sites More sharing options...
Steve Posted May 5, 2016 Report Share Posted May 5, 2016 Average Canadian home going for $433,649, Hamilton average in January was $380,000 Link to comment Share on other sites More sharing options...
crappieperchhunter Posted May 5, 2016 Report Share Posted May 5, 2016 A couple weeks ago on 680 news, they said in Canada the average, all in cost to parents, to raise one child from birth to 18 years of age is $275 000. I found that surprising. Did they break it down at all Chris? I can't see how that would be possible by 18 to be average. I could see it if you add a few years and include 3-5 years of them off to University. However I have Uber rich relatives that are paying $25,000-$50,000 a year for each of there kids to go to a private school instead of a local high school. And once they got a full license they both got brand new vehicles as well. And I could go on and on. A few from that snack bracket can really skew a survey especially if it is a small group. Anyway if that's average I'm happy to say raising our 2.... Debbe and I came in WAY UNDER budget Link to comment Share on other sites More sharing options...
aplumma Posted May 5, 2016 Report Share Posted May 5, 2016 do the math. 19% interest rate on $50K vs 3% interest rate of $350K do it based on a 25 year standard mortgage. you will find the interest payment is LESS on the $50K mortgage, based on 19% interest rate than the 3% interest rate based on $350K mortgage. ($45K paid in interest during first term of the 19%/$50K option vs $49K in interest paid during first term of the 3%/$350K option). Not to mention the 50K mortgage is 1/7th the amount. So yes, it is much better to accept a high interest rate on a low amount than a low interest rate on high amount. that is based on keeping a mortgage for 30 years. A payment with just 10% will drop your loan to less than 20 years. The path to having more money is to make your money work for you. Art Link to comment Share on other sites More sharing options...
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