'One in five university graduates become millionaires'?

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Катя
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#1
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According to the Telegraph, anyway.
http://www.telegraph.co.uk/education...lionaires.html

Swear to God this is only true of people who went to university when it was free / before the wave of new post-1990 universities?

Thoughts?
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The_Dragonborn
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Sounds like bull**** to me. Might apply to students in the past few decades but certainly not now. Who has the cash nowadays to accumulate over 1 million pounds worth of assets?
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8472
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Chances are their parents were already rich and they had it thrust upon them rather than work from the bottom...
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Commercial Paper
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They probably include you having a house, which in some areas, pretty much instantly makes you a paper millionaire if they keep going up at the current rate.

I don't think this will hold true for our generation - the most squashed generation in history. We'll be hit with high tuition fees, low wages, high car insurance, high taxes, jobs are off the scale competitive in some industries, low/no pension and unaffordable/impossible house prices/rents.

My uncle didn't go to university but if I am totally honest, everyone in his generation and above seems loaded (about 60ish years old), even normal people, seemed like they had it incredibly easy compared to now. A lot of my neighbours are pensioners from normal jobs (post man etc.) and they are incredibly financial secure - I just don't know they achieved it by doing nothing.

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Vixen47
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So 4 out of 5 millionaires aren't uni graduates? Now that's saying something.

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russellsteapot
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Considering most of them got their value for nothing when house prices inflated (particularly considering London's tendency to have more graduates than other places, and the most absurdly priced houses), I don't think there's a great deal to say about this which applies to current undergraduates. The economy couldn't cope with another silly house price boom so it's unlikely today's young people will see the same kind of result unless they inherit it.

It's this kind of miserable non-story based on typically bad newspaper statistics which leads to far too many graduates having unrealistic expectations.
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yo radical one
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Not trying to be a ****, but I'm sure many people fall into just over having £1,000,000 in net worth, if you add up everything. Doesn't mean they spend all their time in yachts or on private jets.
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Georgie_M
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My parents bought a house for 25k in the 80s (as non-university grads) and that same house sold last year for 800k. Something comparable earners of today could never aspire to owning (my mum was a nurse and my dad was a bank clerk at the time).
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Viva Emptiness
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(Original post by Vixen47)
So 4 out of 5 millionaires aren't uni graduates? Now that's saying something.

:rofl: stealing.
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the bear
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they can stick their assets in their assethole...

bear™

poor and proud
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Катя
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(Original post by yo radical one)
Not trying to be a ****, but I'm sure many people fall into just over having £1,000,000 in net worth, if you add up everything. Doesn't mean they spend all their time in yachts or on private jets.
"Many people", eh, I'm not sure. Like, if you went to a private school and lived in a big house in the countryside with its own field or something, then sure, you'll know plenty of people whose assets will be in excess of £1m.
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LightBlueSoldier
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(Original post by Катя)
According to the Telegraph, anyway.
http://www.telegraph.co.uk/education...lionaires.html

Swear to God this is only true of people who went to university when it was free / before the wave of new post-1990 universities?

Thoughts?
Depends on whether it refers to cash or asset millionaires. I wouldn't be surprised if the latter were true.


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Red one
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(Original post by Vixen47)
So 4 out of 5 millionaires aren't uni graduates? Now that's saying something.


That's an odd way of interpreting "1 in 5 graduates is a millionaire"
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Theflyingbarney
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£1 million isn't the big threshold it used to be these days. To be honest, if you added up the assets my immediate family own they'd probably go 2/3 of the way there, and we're a long way from being rich. And as others have hinted at, I suspect this is still playing off the time 30-odd years ago when going to university was likely to put you near the top of the jobs pile to begin with, rather than being an automatic prerequisite for most salaried jobs.
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Rednekk
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(Original post by Red one)
That's an odd way of interpreting "1 in 5 graduates is a millionaire"
You mean "wrong" way. It doesn't make sense.
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Rednekk
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#16
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(Original post by Vixen47)
So 4 out of 5 millionaires aren't uni graduates? Now that's saying something.
No. It doesn't say anything because that's not what was implied.

And yes, I am being a spoilsport.
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Manitude
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(Original post by Vixen47)
So 4 out of 5 millionaires aren't uni graduates?
No, but 4/5 graduates aren't millionaires.

I AM THE 80%
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Red one
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(Original post by Rednekk)
You mean "wrong" way. It doesn't make sense.

Semantics, fool...
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Rednekk
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(Original post by Red one)
Semantics, fool...
You don't want to get into a back and forth with me. You'll lose. Run along now little girl.
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Red one
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(Original post by Rednekk)
You don't want to get into a back and forth with me. You'll lose. Run along now little girl.

You are clearly a new member or you wouldn't even try it with the Khaleesi.
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