‘Wealth of parents is more important than university degree,’ says academic Watch

Bill_Gates
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‘Wealth of parents is more important than university degree,’ says academic

How much a parent is worth is becoming increasingly important to their childrens' educations, according to Simon Marginson, professor of international higher education at UCL Institute of Education

what do you guys think?

personally i agree, been saying it for a while now.


Source:
http://www.telegraph.co.uk/education...-academic.html
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Juichiro
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(Original post by Bill_Gates)
‘Wealth of parents is more important than university degree,’ says academic
How much a parent is worth is becoming increasingly important to their childrens' educations, according to Simon Marginson, professor of international higher education at UCL Institute of Education
what do you guys think?
personally i agree, been saying it for a while now.
Source:
http://www.telegraph.co.uk/education...-academic.html
Makes sense as the value of wealth does not decrease but the value of degrees keep decreasing as more and more people have one. Besides, wealth can give you a degree (as in it pay your fees so you can study) but a degree does not necessarily give you wealth and as degrees become commonplace this will be less and less likely.
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electro14
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agree
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Liquid Harvest
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I absolutely agree. Children and young adults who stand to inherit a kingdom from their parents have their futures practically set.
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Bill_Gates
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(Original post by Juichiro)
Makes sense as the value of wealth does not decrease but the value of degrees keep decreasing as more and more people have one. Besides, wealth can give you a degree (as in it pay your fees so you can study) but a degree does not necessarily give you wealth and as degrees become commonplace this will be less and less likely.
(Original post by electro14)
agree
(Original post by Liquid Harvest)
I absolutely agree. Children and young adults who stand to inherit a kingdom from their parents have their futures practically set.
surprised how many people actually agree lol, fair play! truths out!
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Baron of Sealand
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Obviously.
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Bill_Gates
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(Original post by Little Toy Gun)
Obviously.
thanks for clearing that up!
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ebam_uk
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I would say especially so in the UK as take for London ( if you live there and have a high salary and rent a place )... the price of rent is painstakingly high.... making it hard to buy a place and build wealth ( in equity) as that is the normal route...

As the buy to let gets more prominent... I expect to see more of the older generations generating wealth through buy2 let and us younger generation... aka generation rent, rent from the olders...

In the end it amounts to the money being restored to the parents generation... which means inevitably the winners in this are the rich and even people who get good jobs... I find it hard to see them beating the buy2letters etc overalll...
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AnonymousPrince319413
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That's like saying water is wet....
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username1494226
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It's sad that degrees are becoming almost worthless pieces of paper these days. I blame Blair for opening up accessing to more people and encouraging more people, would also blame John Major too.
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80sUnderground
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Its just the children inheriting good intellectual genes off their parents. Theres no conspiracy, this 'class privilege' guff is nonsense.
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Bill_Gates
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(Original post by ebam_uk)
I would say especially so in the UK as take for London ( if you live there and have a high salary and rent a place )... the price of rent is painstakingly high.... making it hard to buy a place and build wealth ( in equity) as that is the normal route...
As the buy to let gets more prominent... I expect to see more of the older generations generating wealth through buy2 let and us younger generation... aka generation rent, rent from the olders...
In the end it amounts to the money being restored to the parents generation... which means inevitably the winners in this are the rich and even people who get good jobs... I find it hard to see them beating the buy2letters etc overalll...
exactly, especially the case for London. Even if you are on 40k that's 2.5k per month, £1500 per month could be eaten up in terms of rent and lifestyle easy.
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Bill_Gates
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(Original post by 80sUnderground)
Its just the children inheriting good intellectual genes off their parents. Theres no conspiracy, this 'class privilege' guff is nonsense.
i agree 100%. Their parents decided to save and invest rather than spend and show off and now they are enjoying the rewards.
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Serine Soul
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Couldn't agree more
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ebam_uk
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(Original post by Bill_Gates)
exactly, especially the case for London. Even if you are on 40k that's 2.5k per month, £1500 per month could be eaten up in terms of rent and lifestyle easy.
I think the key is in this economy... the money is going towards rent ( who owns the property)... ie it is in the wealth of the parents.... Also the lifestyle elements and general cost of living is going to however owns...

We would be naive to think that we can actually get rich...in this kind of economy...
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Bill_Gates
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(Original post by ebam_uk)
I think the key is in this economy... the money is going towards rent ( who owns the property)... ie it is in the wealth of the parents.... Also the lifestyle elements and general cost of living is going to however owns...
We would be naive to think that we can actually get rich...in this kind of economy...
not entirely true i think we have lots of meritocratic industries, take technology for example. You can have one silly website and it could sell for millions or an app. I know some who have done really well! but there are only a few industries and government interface is coming.
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uer23
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(Original post by ebam_uk)
I would say especially so in the UK as take for London ( if you live there and have a high salary and rent a place )... the price of rent is painstakingly high.... making it hard to buy a place and build wealth ( in equity) as that is the normal route...

As the buy to let gets more prominent... I expect to see more of the older generations generating wealth through buy2 let and us younger generation... aka generation rent, rent from the olders...

In the end it amounts to the money being restored to the parents generation... which means inevitably the winners in this are the rich and even people who get good jobs... I find it hard to see them beating the buy2letters etc overalll...
What about cheaper options outside of London where prices are still affordable. Do you reckon it's worth getting on the buy 2 let market via that route in this day and age while we still can ?
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ebam_uk
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(Original post by uer23)
What about cheaper options outside of London where prices are still affordable. Do you reckon it's worth getting on the buy 2 let market via that route in this day and age while we still can ?

One can't say it is for sure..

I think timing is everything ( because if interest rates go up, historically they are at an all time low meaning borrowing money is cheap then prices are likely to go down so u could borrow 200k for example and your asset is worth say 150k)...

Although you have a successful buy to let, you are in negative equity of 50k which means it wasnt a good investment ( ie it would be better and more strategic to buy after a price decrease).... The problem is, it is hard to time the market as it changes when people least expect it..

But it can't be denied that say if u buy a starter ( 1 - 2 bed flat near a station, commutable hotspot).... You will have a strong property to rent out... whether or not it is the best way to make money or not is another question as one has to consider the cost of opportunity and if there are more attractive investments...
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zigglr
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(Original post by marco14196)
It's sad that degrees are becoming almost worthless pieces of paper these days. I blame Blair for opening up accessing to more people and encouraging more people, would also blame John Major too.
Degrees are still good to have if they are valued by employers and come from a reasonably good Uni (Chemistry, Law, Dentistry, Engineering, Vet Med, Medicine, Dentistry are the main ones that come to mind). Degrees that don't specialise you in anything are pretty pointless though IMO.
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capitalismstinks
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In other words IQ of parents is indicator of child success.
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