2022 mini-budget discussion

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diamount said:
If a person on 100k is struggling then they should take the advice you lot like to peddle, live within your means!
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This is a naive comment.

People seem to think someone earning £100k is a lot of money, it’s really not.

By time the extra taxes, NI, pension contributions for matches to come into play it’s not as life changing as people think. Especially with loss of personal allowance.

Take the previous comments scenario of a single income stream, in a expensive region like London (which maybe they need to live in for their job (don’t forget Travelling to work is expensive too)) with multiple kids. I wouldn’t use the words poverty but it’s quite possibly someone at that level would have low disposable income.
 
kitkat9933 said:
This is a naive comment.

People seem to think someone earning £100k is a lot of money, it’s really not.

By time the extra taxes, NI, pension contributions for matches to come into play it’s not as life changing as people think. Especially with loss of personal allowance.

Take the previous comments scenario of a single income stream, in a expensive region like London (which maybe they need to live in for their job (don’t forget Travelling to work is expensive too)) with multiple kids. I wouldn’t use the words poverty but it’s quite possibly someone at that level would have low disposable income.
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I think what's naïve is arguing against someone saying that a £100k earner shouldn't struggle, when that's three times the London median.

I've argued against people who've said that's a salary that buys expensive new cars, a holiday home, multiple foreign holidays etc, because that's just not the case. But it is a comfortable income.
 
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cheesyboy said:
I think what's naïve is arguing against someone saying that a £100k earner shouldn't struggle, when that's three times the London median.

I've argued against people who've said that's a salary that buys expensive new cars, a holiday home, multiple foreign holidays etc, because that's just not the case. But it is a comfortable income.
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Not really that comfortable when there's inflation etc.

Everyone will be feeling the heat, not just people in lower income
 
Robbo said:
I appreciate there are many differing factors, but if you aren't comfortable on £100k, then something is wrong.
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What's usually wrong is people on that sort of money often tend also to get in hock up to the hilt, usually because they become social climbers and are into keeping up with the Jones'.

In Cheshire there's an area called Mere. Before the footballers ruined Bramhall and Alderley Edge they bought up repossession property around Mere. It was known as "Debtors Mile". The bailiffs might as well have set up a base there.

A friend had a garage selling flash cars near Mere, he used to say "That horrible red Roller's gone Chris, it'll be back again before Christmas, another fur coat and no knickers lot managed to get finance on it, God knows how".

So yes, plenty on 100K plus can get themselves in a situation where they are totally bankrupt, let alone unable to live a very comfortable life.
 
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SpeedFreak said:
It is comfortable but you still have to work until state retirement age
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No you don't. I have never earned anywhere near that amount and quit work ten years before I'll get a state pension.
All depends how you live your life. No debt and not keeping up with the Jones is a good start.
Always been happy enough in my little 2 up 2 down end terrace in a decent area.
 
Uther said:
No you don't. I have never earned anywhere near that amount and quit work ten years before I'll get a state pension.
All depends how you live your life. No debt and not keeping up with the Jones is a good start.
Always been happy enough in my little 2 up 2 down end terrace in a decent area.
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Depends on the area. In London it's quite difficult to retire earning decent sum.

Poeokes circumstances are different and people have different goals and hurdles to climb and tackle in there life's.
 
Uther said:
No you don't. I have never earned anywhere near that amount and quit work ten years before I'll get a state pension.
All depends how you live your life. No debt and not keeping up with the Jones is a good start.
Always been happy enough in my little 2 up 2 down end terrace in a decent area.
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Same here although my house is different, you make life choices, you stick with them.

I think people spending too much is fine as long as they recognise they'll have nothing when older.
 
kitkat9933 said:
This is a naive comment.

People seem to think someone earning £100k is a lot of money, it’s really not.

By time the extra taxes, NI, pension contributions for matches to come into play it’s not as life changing as people think. Especially with loss of personal allowance.

Take the previous comments scenario of a single income stream, in a expensive region like London (which maybe they need to live in for their job (don’t forget Travelling to work is expensive too)) with multiple kids. I wouldn’t use the words poverty but it’s quite possibly someone at that level would have low disposable income.
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So how do you think people earning the minimum cope, duh, 100k is more than enough if you can't manage on that then you're in trouble and need to reevaluate.
 
Slam62 said:
So how do you think people earning the minimum cope, duh, 100k is more than enough if you can't manage on that then you're in trouble and need to reevaluate.
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Such a naive view of the world. Sure, many have it worse but just because someone is better off than yourself doesn’t mean in certain circumstances that they can’t have a rough time as well.
 
cheesyboy said:
I think what's naïve is arguing against someone saying that a £100k earner shouldn't struggle, when that's three times the London median.

I've argued against people who've said that's a salary that buys expensive new cars, a holiday home, multiple foreign holidays etc, because that's just not the case. But it is a comfortable income.
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Doesn’t mean they can’t struggle too.
 
kitkat9933 said:
Such a naive view of the world. Sure, many have it worse but just because someone is better off than yourself doesn’t mean in certain circumstances that they can’t have a rough time as well.
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What exactly has that to do with taxes, you make your bed you lie in it.
If you can't manage on 100k you need to take time to reflect on what the hell your doing.
 
Slam62 said:
What exactly has that to do with taxes, you make your bed you lie in it.
If you can't manage on 100k you need to take time to reflect on what the hell your doing.
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You don’t always make your bed.

I had friends based in London that had a collective income of about £300k split equally between them. They have 5 kids and a great life. The dad had terminal cancer and the got into a lot of debt in the US on treatments not covered in the Uk. He since passed away.

She now on her single salary has to support 5 kids, a mortgage based upon two peoples salaries at the time with interest rates rising. She doesn’t go on fancy holidays or have an even remotely fancy car. She doesn’t want to down size to take her kids out of school away from their friends and family etc .

His life insurance didn’t even cover the full debts.

She has a tough life and she’s doing a great job, sacrificing to make sure her kids don’t suffer more.

So please stop with this rubbish that people on higher salaries can’t have it bad, because that’s just naivety at its finest.
 
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cheesyboy said:
I think what's naïve is arguing against someone saying that a £100k earner shouldn't struggle, when that's three times the London median.

I've argued against people who've said that's a salary that buys expensive new cars, a holiday home, multiple foreign holidays etc, because that's just not the case. But it is a comfortable income.
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Just because some higher earners don’t manage well doesn’t mean they all don't
 
kitkat9933 said:
Grow up. Naive and jealous is all you are from the sounds of your comments.
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Why do people have to be jealous to have that opinion. Huge portions of society would dream of earning the sort of money your talking about.

I’m not poor but I don’t earn anywhere near £100k
 
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