2022 mini-budget discussion

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413x said:
But if you're on 100k and sensitive to mortgage price rises you've over extended yourself right?

That's what everyone gets told who struggles with base rate rises.

"oh you should have planned for that"
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The thing is. When the working classes have squeezed to death and have nothing left to give, guess who’s next.
 
dLockers said:
It is literally what every boomer with a 20% LTV says regardless of salary. The point is at £100k your opportunity to earn more is difficult because of the stealth 60% tax. Percentages are all fun and games until they apply to big numbers.
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Completely agree with demimishing returns. I already feel it at my modest salary. I can't be bothered to take on management responsibilities for example as it just isn't worth the renumeration for me.


Life changing money is massively high salary. Well over 100.


There's a big wide band of "easy".

I'd say from 35k - 100k is easy (depending on cost of living, no kids etc) day to day. You shouldn't need to worry about being in the street as long as you keep your job.
 
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413x said:
But if you're on 100k and sensitive to mortgage price rises you've over extended yourself right?..

... Having that house worth million +.

So even if it isn't luxury now, you're planning for later.
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I've clipped your post to highlight the contradiction; you're criticising someone for "over extending" yet you think they'll be living in a property worth over a million.

You were fantasising yesterday about the 900k house you could "afford" if you were on 100k.

WTF :p
 
dLockers said:
you would need to earn SUBSTANTIALLY more to cover your outgoings, or simply go broke.
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Or simply move to a cheaper, smaller, house.
dLockers said:
Folk on £100k are in a rock and a hard place because "in theory" they are loaded, but in reality, the struggle is just different. Yes, they could live in a low cost of living location, and most do - to offset the cost of childcare - but it soons comes back as most £100k roles will expect some level of mobility at the employees expense.

It isn't easy to be on £100k and the "top yourself up" by enough to make a meaningful difference each month. People in that bracket are helpless to substantial price rises, unless they do what nobody on any tax brackets wants to do - up sticks, move, gentrify a dump and then price out the locals. All because the taxation at £100k is unfair and disproportionate.
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So most £100k roles will expect some level of mobility but nobody on any tax brackets wants to up sticks and move.

I think you maybe struggling to explain the 100k issue because like others have said it's not an issue, it's choices. Choices not avilible to those lower down the pay scale, someone on £100k can cut their cloth accordingly if they so choose, someone on NMW has very little cloth to cut to begin with, someone even lower down the income bracket like pensioners or the disabled often have even less cloth to cut. < That's struggle.
 
regulus said:
Different country but our combined income WELL exceeds £100k. Can absolutely confirm that if we had to go down the route of expensive new cars (plural. Even singular will be a push), a holiday home (like, LOL), multiple foreign holidays (maybe 1-2 a year max), and whatever else people think, we'll be left with very little every month.

Now, I will admit that with careful mathematics, 'some' of the above could be in reach, but we'll be left exposed during a major downturn. We prioritize differently.

So despite our income, we still dutifully queue up for economy class, shop the weekly specials, look for cheap hotel deals and getaways and budget our holidays. Perhaps it's different when you're getting to £300k a year, but I wouldn't know
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It’s no different even into the several £X00k per year.

I think you need £500k + per year as a couple before you start to be able not prioritise and get all the nice stuff.
 
Raymond Lin said:
Devil's advocate here...

Not every single person earning under 100k can "top" up with overtime either, I am on way less than 100k on my PAYE job and i don't get overtime.

I can see you are trying to illustrate that due to the tax bracket, an increase in gross wage for 100k+ doesn't yield the same as someone on say 25k salary a year for say 1% increase (not done the math....but i don't think so). However.....the person at 100k salary has a heck a lot more options in lifestyle choices perspective than someone on 25k.

I know given the choice...no one here would choose the 25k job.
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For sure - undoubtedly. It is a bit like stress though. It is the same physical feeling being stressed at 3 and going to your first day care as it is signing off on a billion pound business deal. It doesn't feel "a billion times worse" for the business person. People still feel like crap having to up sticks because they've been defeated by the rat race for their relative pay scale.

Doobedoo said:
Lighten up fella stop being so defensive. Your in relatively privileged position, enjoy it but don’t pass it of as struggling.
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It nothing about being defensive. I am always surrounded by folk who chose to be ignorant (yes it is choice not to pick up a book and read it). It is brilliant for me because I take the 5 minutes others don't to a) google it, b) ask. I reckon I've asked some of the dumbest questions a member on here has ever asked (other than the chap who thought a pine cone was an acorn).

Murphy said:
Or simply move to a cheaper, smaller, house.

So most £100k roles will expect some level of mobility but nobody on any tax brackets wants to up sticks and move.

I think you maybe struggling to explain the 100k issue because like others have said it's not an issue, it's choices. Choices not avilible to those lower down the pay scale, someone on £100k can cut their cloth accordingly if they so choose, someone on NMW has very little cloth to cut to begin with, someone even lower down the income bracket like pensioners or the disabled often have even less cloth to cut. < That's struggle.
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It is hard to get it, I know. Hopefully one day you have this problem.
 
Dirk Diggler said:
I've clipped your post to highlight the contradiction; you're criticising someone for "over extending" yet you think they'll be living in a property worth over a million.

You were fantasising yesterday about the 900k house you could "afford" if you were on 100k.

WTF :p
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I'm saying that that's what would be said if you've got a mortgage big enough that you're struggling with base rate rises.

Yes. That's what I could afford. But I wouldn't. Because it would be over extending. It was an example of the excess cash I would have if I decided to put it all into one area.

Hopefully no one would do that. And I'm sure if you're on 100 you're balancing where you put your money.
 
Oh and I'm not envious of people earning 100. If I moved to London and took management I could probably be on 80k+.

Wouldnt do it though as its not life I want.
Being old with lots of cash doesn't appeal to me. The things I enjoy most require time and a body that isn't broken. Being really old is gonna suck!

All I'm saying is 100k is not struggling like someone who has to worry if they can heat or eat.
 
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My previous part time job before I quit work due to ill health would have taken me over 5 years to earn 100k lol. Now I'm living on my savings and it would take me about 7 years to pay myself 100k :p
Live to your means and cut your cloth accordingly...
 
dLockers said:
It nothing about being defensive. I am always surrounded by folk who chose to be ignorant (yes it is choice not to pick up a book and read it). It is brilliant for me because I take the 5 minutes others don't to a) google it, b) ask. I reckon I've asked some of the dumbest questions a member on here has ever asked (other than the chap who thought a pine cone was an acorn).
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If you say so fella. As someone who was described as 90% of what he posts is sarcasm, you may have recognised tax evasion as being sarcasm. ;)
 
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