To think this is classed as being wealthy?

Everyone will have different views of wealthy but I would say no.
Also you can’t count your chickens too early - never rely on other people’s money like waiting for an inheritance. People get screwed over with that. Make your own.

No not wealthy. I have similar income/savings and own a house worth 400,000 (no mortgage). I consider myself comfortable, but certainly not wealthy.

Depends on how you define wealth.

if we’re talking strictly monetary value - then it also depends where you live. Take 45k as an example… you might be able to live like a king up north but in London you might barely scrape by

I’d describe that as ‘mass affluent’. Certainly not wealthy but reasonably well off.

Also I think you need to be mindful of the fact she’s comparing her lifestyle to her previous lifestyle when she was with her ex and presumably in a 2 income household with a higher standard of living. I can understand why she might not feel “wealthy”. Maybe privileged is a better term?

Very much depends where she lives, In London a £75k salary whilst above average is not particularly high and a £500k home could be a 2 bedroom flat in Zone 3. Transfer those figures to say the NW of England and the story is very different.

How much did the parents gift as a deposit for the current mortgage?

If nothing, she is not wealthy, her parents are. Or at least asset rich money poor....

its not for me. I have similar background as your friend but My income is 80k and mortgage only £300 and in this living crisis its still not considered wealthy or even comfortable.

Comfortable for me is i can spend my money without thinking. With my income i still have to budget everything. So in my opinion your friend is blessed and have enough but not comfortable and not even close to wealthy.

wealthy for me is can take twice holiday a year. Summer holiday go back home to my hometown in Asia and winter holiday skiing. All take business class flight. Have a holiday house, at least have 3 houses. All children in private school and because i’m a woman i would love to have a birkin bag.

with 80k salary I couldn’t even send my kids to private school or have birkin 😅

The thing with wealth is that it's all relative. People tend to compare themselves to those with more and see themselves as less well off. Or in your friends case, her circumstances are changing to make her much worse off than she was, so she is feeling impoverished. I get its insensitive maybe to complain to you about it. But if that's the thing going on in her life, it's going to be what she's talking about.

The parents may be wealthy, depends of course how much actual money they have as opposed to 4 properties.

but I don't think anyone is ' wealthy ' if there is a mortgage involved on the property they live in.

In my neck of the woods they're minted.

I think as well you need to look at things through a 2024 lens. 2024 cost of living, inflation and salaries.

things that sound out of reach in previous years may not be equivalent to today’s money. Eg a £500k property might sound like a mansion but in reality could be a flat in London.

My parents lived a relatively wealthy lifestyle on a similar income - that was enough for them to afford multiple children and properties and retire early and have lots of holidays and savings.

my salary now is the same as theirs when they were my age but I can’t do much with it - my bills soak up the majority of my salary and I definitely won’t be retiring early, buying multiple properties, having lots of kids. So in 2024, what might traditionally seem like a high salary doesn’t go as far.

Depends where you are. In the south east, a three bedroom semi can be £500k plus. I’d guess she’s comfortable, but probably not enough to retire to a luxurious lifestyle or set up big trust funds for the kids.

Not wealthy. Modest savings and a middle income. Especially if in soft east. I wouldn't include parental assets.

I don’t really know what the voting means in relation to your post. I voted YABU as it’s all subjective isn’t it? To a bunch of millionaires it doesn’t sound wealthy, to someone on minimum wage (which is almost poverty in 2024) it sounds wealthy.

personally I think the house is obviously a good asset, the parent’s property isn’t really relevant. The income is subjective as it might not go far in expensive areas such as london especially if childcare costs are involved. The savings are good but I’m not sure I’d consider that wealthy, I think to me wealthy means you don’t need to work - how long would the adult in question survive on £50k if they weren’t employed? Baring in mind the cost to run a £500k house?

She’s not poor, I think that’s the only description I could give her but she may be feeling financially vulnerable since her divorce.

Comfortable but not wealthy.

If you're bottom of the pile then so am I! Seriously though op, you're fine and very normal. She's got above average everything, don't compare yourself to her. And dont ask on mumsnet either, everyone on here is loaded (or claims to be anyway)

Wealthy is all relative. You would struggle to live on that near me.

@usernother it’s seriously annoying!

@ShadesofPoachedSmoke I really don’t understand it😂 it’s even worse when the OP is REALLY long, then the QT the really long post making everything even longer. MN should banning quoting the original post😆

No definitely not wealthy.

In London you wouldn't even have an amazing quality of life on such a salary & 500k is like 2-bed

Of course they are. Anyone who says they aren't, is well off and thinks they aren't.

Comfortable is plenty of savings and enough disposable income to do ‘most’ of what you please. Well-off is the next notch up - no mortgage, regular holidays and paid for luxury cars on the driveway. Wealthy is private schools and St Lucia. Rich is David and Victoria Beckham.

A college fund?
So you dont live in the Uk although you quote £s and ISAs
Wealth is relevant to where you live