High earners - how do you spend your salary?

@Citygirly genuine question. Why did you post on AIBU instead of a financial or money related forum?

@C8H10N4O2

There's a difference between punching up and punching down.

Thank you, you articulated nicely in one sentence what I was trying to say about why it's not comparable!

@Topgub i don't work in the medical profession so I am prepared to be told I am wrong here, but to get to the top of band 5, you don't need any additional qualifications do you? Just to have been in the job long enough?
There's no comparison with law (which I also don't work in) as you will have to specialise and take additional qualifications to reach £85k in most practises. The big London law firms wages skew averages for lawyers. Most lawyers work in provincial law firms and won't earn anywhere near £85k.

You sound very resentful towards key workers. No one is saying they have the monopoly on hard work - lots of people work hard. DH are both incredibly hard working and put in many extra hours with no additional pay - but we are the first to admit our jobs are less important to society than the likes of nurses and teachers. The point is, they should be well-paid professions.

I have quite a large household income, it’s made up of numerous income streams and we invest about 80% of it in generating further income.

such as what? btls?

There is a difference between punching up and punching down.

If this was intended as a good faith post I'd expect to see it in "Money", not AIBU where the outcome was utterly predictable.

I'm also bemused that the OP apparently has no peers to observe or discuss this with since she would have a pretty good idea that peers are on similar income whilst on here, we can all be gazillionaires if we choose.

@burnoutbabe I guess so much is dependent on age & location. Most people buying in the last few yrs will still be paying a lot of a tiny flat.

Well it would’ve educated me had I not had those around me at work that I felt comfortable to ask questions of. I think the only reason for that was that we were in a sales environment. Now I work in professional services I can absolutely assure you nobody in KPMG sits down over a sandwich in the canteen and starts explaining to the younger members of the team how to maximise their investments and their pension they probably should but it’s just far too conservative/circumspect. I can only imagine Law is 10 times worse.

Usual derailment of threads by people who can’t contribute. Always around money which is no surprise.

I have quite a large household income, it’s made up of numerous income streams and we invest about 80% of it in generating further income.

This is to fund private schooling, travel and nice things.

but there's no point to either post on either thread is there? The posts from those struggling on threads like this are clearly plopped in to make the poster and others in the same position feel shit. So I would be open to the possibility that they were being a dick, actually.

Wow. If that's your view of the poster who can't afford bread, that's she's a dick and thrives on others feeling sorry for her, then we are vastly different people and are never going to agree so let's leave that there.

We are comfortable on a joint income of much less than £100k because we didn't do this
We both drive second hand cars each bought for around £5k ish. Mine needs replacing next year and we have the cash to do so. Will probably spend a bit more this time perhaps £10k. We do go abroad for 2 weeks every summer which we save for monthly, same as Xmas and birthdays as we have 4 children so it's expensive. Aside from that and paying for extra curriculum activities, clothes days out etc the odd takeaway, our outgoings have been the same for a few years now
My husband changed jobs fairly recently and got a pay rise of around 20%. It just means we save more. Likewise I work 18.5 hours currently but will up it to 28 hours in the next few years. Again more will go into savings. I'd rather have a good amount in the bank to help children out with uni and houses in the future than move to a bigger house or buy a better car
I work in mortgages and am often shocked at how so many high earners have lots of debt and are in their overdrafts every month due to lifestyle spending
Many of them are earning huge amounts yet have no savings
I have friends in a similar position who spend like crazy and are relying on inheritance to repay the mortgage and provide a deposit for their children in the future

home! 😆

or a 2nd joke

I was think the point of these threads and what’s so good about them is that they do educate people financially.

Do they? I mean the vast majority of people I know who earn well came from solid backgrounds & we were all helped onto the ladder (including me) by family. I know loads of people who moved during the pandemic all given sums like 200k up the ladder.

as its anonymous. I didn't generally shout out to non-close that my mortgage was tiny etc (which was because i bought one flat and never moved)

Trouble with Mumsnet is whilst there are "boards" - most people, like me, probably just look at the active forums. And post on whatever thread appeals to us (avoiding obvious ones like black mumsnetters).

Other boards have specific forums so DEBT FREE WANABE is not also showing posts against "i have £1m to invest, what shall i do??"

What is the obsession with savings?

We save in a few pots. short term for holidays, renovations & then long term for retirement & rainy day.

We don't have 300k in savings though, I don't see the point of that.

I was think the point of these threads and what’s so good about them is that they do educate people financially.
I was so lucky I went into a sales role when I was straight out of university, worked with other people who were middle to upper class and basically I just did what they were doing so instead of buying shit at Karen Millen which is what some of my colleagues did who didn’t observe management.
I went and bought a house and literally three years later that house doubled in price .
Unfortunately I then sold it but the proceeds of it allowed me to spend four years at home with my children that I would never of had without it.

Dont they say that you are the average of the five people you spend most time with ?
if you spend all your time on Mumsnet it could go either way for you.

@Katypp

My logic for what statement?

@Topgub And your logic for this statement is?

@Katypp

Who said nursing was worthy of sympathy?

I said it was under paid.

You shouldn't have to progress to the very very top to be a higher earner as a nurse.

A band 5 nurse should be a higher earner. A carer in a nursing home should be a higher earner.

If an 'average' lawyer can earn 85 k then so should an 'average' nurse.

@Merryclaire sorry I forgot that teachers and nurses have a monopoly on hard work - silly me.
I agree this post would be better in money though, although I expect there would still be a pile-on there

It's only on MNs that I read about higher earners who are you but are mortgage free or have a tiny one. The higher earners I know are mortgaged to the hilt &/or paying shit loads of childcare.