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About DonJop12

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  1. I’m seeing a few posts go viral from people who have clearly spent months sending CVs into a black hole. I’m very lucky that my current employment has seen a 4x increase in workload during the covid-19 period. I’m in the right place at the right time but it is luck on my part. I graduated at the peak of the last recession and I also know what being in the wrong place at the wrong time looks like. It was terrifying graduating around the time of the Olympics. The key takeaway points from that period: · Experience is more important than grades although in a recession nobody wants to train. · Employers do not have to respond in a recession. They can be as rude as they want. They can make you jump through hoops like a dog at crufts. · The stigma of unemployment sets in surprisingly quickly. I remember an interview with an insurance firm (off Fenchurch St) where the first question was ‘how long have you been searching?’. That is never a good sign. · A CV gap can become incredibly problematic · Not having a ‘rainy day’ fund can also be incredibly problematic. I have a five figure rainy day fund now!
  2. My Dept at work has seen a 3x increase in work during covid19 so there is no immediate prospect of a Universal Credit application. I am too young and missed the boat re house price inflation. I would have needed to get a mortgage when I was still in nappies. It is a pretty grim thing to say aloud but I feel as though my chances of home ownership are increasing the longer this goes on.
  3. I won’t be celebrating. VE Day led to a baby boom that has locked me out of home ownership. I wonder if on a subconscious level the boomers are really celebrating being the beneficiaries of post-war social democracy.
  4. Strangely I had a DM comment moderated (removed) this week which has never happened before. Someone clearly didn’t like the suggestion that Coronavirus would be good news for FTBs!
  5. That is what haunts me re my time at University. Ultimately time spent cannot be regained. My time chasing a degree amounts to years of lost earnings. I simply didn’t appreciate the value of time aged eighteen.
  6. Ready to top up the Lifetime ISA on Monday. Looking forward to gaining another £1,000 of taxpayers money. Should help if zoopla is flooded with probate sales once this is all over. 😄
  7. I was going to make a ‘You Only Live Twice’ quip but it was a Connery film....
  8. Mine isn’t quite as impressive. I think I could last 18 months. I was woefully under-prepared for the last recession. I think I’ll be ok this time around.
  9. I always thought the only way we would see lower house prices was a recession. I just hope I come out of this in a strong position. I remember being interviewed by an insurance firm in London having just graduated at the peak of the last recession. A boomer hiring manager was aghast at a two-month CV ‘gap’ at a time when unemployment was at c. 2.5m. The one thing I remember from the last recession is the sense of stigma. I’ve built a five-figure emergency fund for this time around. I feel sorry for those that have not prepared.
  10. Excellent news. As an aspiring FTB with 40k ready to use the prospect of BTL gammon getting into difficulty (and perhaps even exiting the market) puts a wide smile on my face. I’ve been waiting for this moment for years.
  11. 1. My parents had me relatively young, so I am likely to be in my late 50s before their demise assuming they reach the average expectancy. An inheritance would be more useful to my own children at that point. 2. They might have social care costs. Among my peer group a definite factor in achieving homeownership is whether an inheritance is ‘lost’ to social care or ‘protected’ by say a death from cancer or heart disease. 3. There might not be any money left in any case. A couple of inheritances and right-to-buy gains have caused a general lack of financial discipline.
  12. The Government have managed to get an 80-seat majority without the need to address inter-generational inequality. Unfortunately, I am at an age where I can't wait twenty years for the boomers to die. It will be Gen Z that will benefit the most from the Boomer exodus.
  13. Yes, that has caused me to be a bit quiet on here. GE2017 gave me reason for optimism. While the electorate was sharply divided by age it looked as though a tipping point was approaching when politics would shift away from the interests of boomers. Clearly GE2019 has torpedoed that thesis. There was a political realignment but not quite the one I was expecting.
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