to be shocked that people think 100k isn’t adequate

[wutheringheights3]

We live in London (zone 2/3 so fairly central for families). We have a household income/wage of 95k-120k each year and it only varies because we’re both self employed.

We own our house and luckily don’t have a mortgage anymore, can afford for DD to have a pony, DS wanted to go to our local secondary school but had the option of the independent sector, as did DD who took advantage of it. We’re also very grateful that we can afford to go away 2/3 times a year (usually somewhere warm in summer for a few weeks, a European city break and Cornwall/Scotland). We also have a lot of savings and have money put aside for the children for university/adult life.

DH and I are by no means incredibly wealthy, just very comfortable.
However, I just don’t understand how people think 100K isn’t enough to live on in London comfortably. Many of DS’ friends parents earn less than us and still live lovely lives in the capital.

[echt]

We own our house and luckily don’t have a mortgage anymore, can afford for DD to have a pony

Hilarious.

[FiremanKing]

You don’t have a mortgage or rent.

If you did then 100k would be a struggle in London.

[CanIGoToBedNow]

[Comtesse]

No mortgage or rent! Haha have a

[Bearbehind]

PMSL - with no mortgage or rent , of course you can live comfortably

Amazing lack of self awareness there.

[FredFlinstoneMadeOfBones]

I think 100k is always going to be enough to live on - people manage on much much less but it really depends what your idea of comfort is. Lots of people are paying at least 2k a month in rent plus saving for a deposit on top of that - so on your income they'd be a lot worse off than you! People also base their idea of comfort to a certain extent on what they grew up with. When I grew up I knew people with one doctor's income (and a stay at home parent) who would have a nice semi detatched in Dulwich and two kids in private schools, and nice holidays etc. Now that just wouldn't be remotely possible.

[ToftheB]

Do you think that people paying rent/a mortgage/childcare might have a different experience?

[kbPOW]

Oh ffs...the pony was over-egging the pudding.

[yoursworried]

What can't you understand? Is it that you don't get that people have different expenses each month? It's not that difficult to comprehend.
With a massive mortgage and 2 kids in childcare some people will have a lot less money than you. Add in a credit card debt or a car loan and they'll have less again.

Your post sounds super twatty and is clearly a major stealth boast.

[wutheringheights3]

Fire I know many people who rent and 100k a year would lift many of their burdens. We used to have a mortgage and we still could afford the lifestyle we have now, minus the pony. That is still very comfortable.

[ScreamScreamIceCream]

OP is this thread meant to be goady?

You don't have a mortgage or pay rent. If you were starting out now you would find that housing costs would eat up the majority of your income followed by childcare.

I know this because I have a lot of nephews and nieces, and the oldest is only 12 years younger than me.

[Bearbehind]

This can’t be for real

[Merryoldgoat]

Are you dim? If you aren’t paying a mortgage then of course you have a load of spare money.

We have around £80k joint income in a not very nice part of Greater London. We’re ‘fine’. If we didn’t have our mortgage we’d have £15k a year net to piss around with.

How can you not see the difference?

[lurker101]

I think the key thing is the housing aspect. Our income is in the same bracket and we have no children and don’t own our own property and whilst we have about 5 holidays a year and gym memberships etc. I don’t feel it is enough. However, if we did not have to pay for housing we would have an additional £17k/year which would go a long way to making things much more comfortable. If we had no housing costs our salaries probably would be adequate.

[whiskeysourpuss]

You sound as deluded as my mother who takes home more in benefits than I do in salary, is mortgage free, has no dependents & constantly claims she's poor & can't afford a holiday but I must have loads of money because I work full time - however a third of my take home pay goes out in rent & I have DD

[yoursworried]

We used to have a mortgage and we still could afford the lifestyle we have now, minus the pony. That is still very comfortable.

That is because you are awesome. Much better than other people and the best thing to do would be to look down your nose at anyone poorer.
Is that what you are hoping to hear?

[Mokepon]

Yabu.
By many people's standards you are incredibly wealthy.
And smug.
100k aside.

[LunaAzul]

Are you a journalist looking for fodder for a story?

[flapjackfairy]

Oh Lord not again.
How many threads does one website need on this subject.?
Lots of people will tell you that they are fed up listening to people bang on about their wonderful London lifestyles whilst others will agree that anything less than a zillion pounds is surely not enough.
The rest of us will muddle along with our lives perfectly happily earning far less than the top 10 % .
It is simple. We all earn different amounts. Some struggle, others are comfortable. Some can manage their money whilst others will overspend no matter what they earn.
Personally I agree that 100, 000 should be enough for anyone and apologies for my tardiness but it does rather come across as rubbing people's noses in it !

[HolesinTheSoles]

Well most people have mortgages to pay for if they're lucky!) which takes up up to half their income so you can't compare your financial situation to theirs! Private schools in London can be 30k a year so if you have two kids then that's 60k a year and not at all affordable on a 100k salary! (I'm not saying private school is a necessary expense but you suggested that it was affordable for families on 100k).

[wutheringheights3]

Except DH’s step brother is in his late twenties so is just starting out and he earns 90k but is paying off his mortgage comfortably. I do understand that it is much much harder now than it was 10/15 years ago though.

[SusanneLinder]

Do you have a Mercedes, sauna as well as room for the Pony?

[Merryoldgoat]

Late twenties earning £90k? What does he do? Shit diamonds?

[HolesinTheSoles]

We used to have a mortgage and we still could afford the lifestyle we have now, minus the pony. That is still very comfortable

No you couldn't! Most people who buy a property in London (unless they bought it decades ago) are paying thousand of pounds a month towards their mortgage. There's no way that you can have exactly the same lifestyle with thousands of pounds less in your bank each month!

[lurker101]

OP, it’s often not the cost of mortgages that is prohibitive, if we had a mortgage on our property it would be lower than our rent is (that’s how our landlord earns money).
It is the paying rent whilst saving for a deposit. So your BIL has saved for a deposit which would be harder whilst paying rent. He is now in the position where the money he saved each month for a deposit can go into luxuries or mortgage overpayment so is much more comfortable. It’s not very difficult