What would you call an average wage?

@Housey we all know that OcUK members are CEOs earning at least £120k pa and have a sizeable property portfolio.
 
Only if you aren't on a fixed deal and it depends on how much they went up by. They have went up and down over the past few years but more times down than up and only by small amounts.

I've just fixed for 5 years and I'm at 40% LTV so I'd be fine. My mortgage is now pennies as I just doubled the term from 16 years to 32 as rates were so low so I can take the money I'd normally use to pay the mortgage and invest it.

I made 16% on SOLGOLD the other day which was a great win. Better than the 1.25% or so I'd get for overpaying the mortgage.
How many months of compound interest at 1.2% does a one-off 16% gain offset?
 
Only if you aren't on a fixed deal and it depends on how much they went up by. They have went up and down over the past few years but more times down than up and only by small amounts.

I've just fixed for 5 years and I'm at 40% LTV so I'd be fine. My mortgage is now pennies as I just doubled the term from 16 years to 32 as rates were so low so I can take the money I'd normally use to pay the mortgage and invest it.

I made 16% on SOLGOLD the other day which was a great win. Better than the 1.25% or so I'd get for overpaying the mortgage.

I thought your house was made of pallets. Surprised you got a mortgage on that :cry:
 
Percentile point/income for reference:

Total income before tax 2018-19

Snip

Badges at reception desk.
Personal or house hold? Hope it's personal!

Makes you think that 99 is so low comparable u up a lot of people's salaries
 
Personal or house hold? Hope it's personal!

Makes you think that 99 is so low comparable u up a lot of people's salaries
It is personal income and it shows that it isn't really low. £175K is a vast some for the vast majority of the UK. I'd argue not many people have 2 people earning £87.5K each in the Uk.
 
I get the sentiment but folk should be thinking about retirement well before 53 :p
Side note, but agree and don't think enough is actually stressed about this in the UK. Maybe worldwide... in my early 20s I literally didn't give it another thought. No real help or advice around it. I didn't see why... but then towards my late 20s I realised in numbers what I should be looking at as a pension pot by retirement to sustain a quality of life that I want. I don't want to work to retire to literally wait to die. I want to maximise my earning potential while I can, so that I can retire on and enjoy life while I can, to a level I want. This is a massive difference.
 
5th percentile for earnings is £78k, as of 2018-19. If you're both on that then you're pretty well off, tbh. Especially with no kids.

That would be me not reading the site properly and putting gross household income.

Net we are only top 11% of households. Makes more sense!
 
I have to say my life. Changed a lot 25 to 30k.
Allowed me to afford a house with a garden and detached.

But to 38k didn't really notice any life improvements. Well be same in this new job.

Absolutely feels like there are milestone wages. And for those trying to get on the housing ladder it's breaching the barrier for what and where you are after.
Maybe it's paying off a debt etc
 
I have to say my life. Changed a lot 25 to 30k.
Allowed me to afford a house with a garden and detached.

But to 38k didn't really notice any life improvements. Well be same in this new job.

Absolutely feels like there are milestone wages. And for those trying to get on the housing ladder it's breaching the barrier for what and where you are after.
Maybe it's paying off a debt etc
For me it has been catch-up on pension and S&S savings. And a few toys along the way.
 
For me it has been catch-up on pension and S&S savings. And a few toys along the way.

Ugh yeah pension is always a scary one. Most of my friends are mid to moderate earners. But I know of people (acquaintances) who are renting at 35+ with kids no savings and no pension. Kind of horrifying as that isn't rare at all.

Either those people are going to fall through the system and end up in poverty when they are older. Or everyone else will be paying huge taxes and all of that planning and saving will be a waste!

Couldn't call it.
 
I have to say my life. Changed a lot 25 to 30k.
Allowed me to afford a house with a garden and detached.

But to 38k didn't really notice any life improvements. Well be same in this new job.

Absolutely feels like there are milestone wages. And for those trying to get on the housing ladder it's breaching the barrier for what and where you are after.
Maybe it's paying off a debt etc

Similar, once earning £30k and over I felt comfortable and as you say it's really only relevant during house buying/ re-mortgage times. Though I'm sure I'll be glad having the extra cash once we have children. :)
 
Ugh yeah pension is always a scary one. Most of my friends are mid to moderate earners. But I know of people (acquaintances) who are renting at 35+ with kids no savings and no pension. Kind of horrifying as that isn't rare at all.

Either those people are going to fall through the system and end up in poverty when they are older. Or everyone else will be paying huge taxes and all of that planning and saving will be a waste!

Couldn't call it.
As pointed out in another recent thread, education in the UK for personal finance is a tragedy. Even £50 a month more now will compound very nicely over the next 20-30 years. It is the minimum you owe yourself!
 
As pointed out in another recent thread, education in the UK for personal finance is a tragedy. Even £50 a month more now will compound very nicely over the next 20-30 years. It is the minimum you owe yourself!

May have been me.
Of all the universally useful things you can teach in school.. Personal finance must be the most important.

Showing impact of saving 50 a month or not but showing an impoverished pensioner might get a few more to sacrifice the latest phone. That's literally all. It takes.
Not saying everyone can. But many could.
 
How many months of compound interest at 1.2% does a one-off 16% gain offset?

1.2% is the yearly compounded rate.

So if I make 16% in a few weeks. I've mad enough to cover the interest on the amount invested for the duration of the 5 years and then some.

My target to beat is 1.25% yearly. Which is easily done.
 
How do people not have a pension, i thought all workplaces had to pay into one for you now.

It is quite worrying. It was drummed into me at the start of my career, I do have 4 separate pots, but all doing quite well. One of them is a final salary one which is quite lucky / amazing. I've always done salary sacrifice / highest contribution I can wherever I've been. This has significantly lowered my salary but has significantly accelerated my pension over the last 20 years. I'd like to retire by 60 at the latest.
 
As pointed out in another recent thread, education in the UK for personal finance is a tragedy. Even £50 a month more now will compound very nicely over the next 20-30 years. It is the minimum you owe yourself!

Absolutely. Wish I'd be taught more when I was a little younger at school. Annoyingly my Dad knows quite a lot and wish he'd taught me better rather than just focusing on academic work and Uni. We're in our mid 30s and in decent paying jobs but with regards to pension and long term investments were playing a little catch up. Wife wants to retire by 50 and me by 60 latest so lots to do for a few years.
 
How do people not have a pension, i thought all workplaces had to pay into one for you now.
Auto enrolment is an easy comfort blanket but you should check how it is performing and not just be contributing the bare minimum. Also, a lot of places (mine included) have worse terms for auto enrolment than for proactively selecting the scheme you want to be a part of.

1.2% is the yearly compounded rate.

So if I make 16% in a few weeks. I've mad enough to cover the interest on the amount invested for the duration of the 5 years and then some.

My target to beat is 1.25% yearly. Which is easily done.
Give us some example numbers. I just can't quite get where your confidence is coming from with this. Unless your house value is extremely low?
 
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