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2022 mini-budget discussion
- Thread starter Harlequin
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I still don't count it as "rich". Dictionary "having a great deal of money or assets; wealthy."
That’s because people who earn very little actually have very little, so relative to them they are rich.
Soldato
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God I wish I had said that at the start.
Soldato
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Hahaha! Nice one.
And someone on 50% less than you would class you as rich.
This is the problem, people think anyone earning more than them are rich, I see that all over this forum. £125k is not rich. £125k for a household is two decent £60k jobs, in no way is that rich imo.
Caporegime
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So what's that around 90k after Income Tax and NI.
"With a household after tax income of £1669 per week, you have a higher income than around 97% of the population - equivalent to about 64 million individuals."
As with everything its how you cut your cloth, you could earn 1m a year and still be "poor", if you squander all your money.
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It really is the problem.
One person's rich is another's poor.
I think for me it's if you are or aren't struggling.
We are not struggling. So I class that as average. We are certainly not flush with cash.
I don't count "having a big mortgage" as a factor. As you are effectively building up savings etc with that.
Kids, that changes things. If you have kids the rich line moves up. But again it is a choice.
I still think that 125k is rich. I can't see how you can have any money worries in anything other than a circumstance of your own creating if you are on that much.
You should also be able to save (mortgage or other) to significantly on that.
come on bro that's not rich, they are working class clearly
This is fair. It's definitely wealthy. In my head I was using a poor, average, rich scale.
And 125k isn’t 50% more after tax, it’s 37.6% more. 21.6% more if that 80k is 2 people.
I guess really what we need is some kind of independent definition of what 'rich' means.
There's the 'living wage' based on actual costs, we need a benchmark 'rich living wage' to compare costs of living as a 'rich' person.
Maybe wealth could be credited in the 'rich' calculations at a rate based ln spending that wealth to give yourself an equivalent income from now until the average age of death.
There's the 'living wage' based on actual costs, we need a benchmark 'rich living wage' to compare costs of living as a 'rich' person
.Maybe wealth could be credited in the 'rich' calculations at a rate based ln spending that wealth to give yourself an equivalent income from now until the average age of death.
If 125 is split equally between 2 people you're going to be taking home 7k ish a month.
7k a month is wealthy/rich. Its life changing money.
It takes all your problems away, you could clear even significant debts in months. I kind of find it distasteful to say it isn't rich in honest.
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A 600k mortgage will take £3k a month straight away, probably more than that now, add in all other bills and everything else, it really isn't rich. Sure if you can have that salary and live in a cheap area (Most cant) then it may feel better.
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