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Original poster

Do you consider this ‘wealthy’?

518 replies

haleeeee · 05/10/2024 18:03

Two kids in private school since primary. Two buy to let’s of around 250k value each. One holiday home value 280k. Own home mortgage free. Income allows for a few holidays a year circa 3k each time.

Wealthy? Well off? Or just better than average?

OP posts:
biglipslittlehips · 05/10/2024 20:23

Well off to me. I think of wealthy as being in the £10s of millions range and £100m+ is super rich

Lifeomars · 05/10/2024 20:20

wealth beyond my wildest dreams

LBFseBrom · 05/10/2024 20:20

I don't know, wouldn't think about it. I've known a couple of people in that category and they seemed much the same as anyone else, they certainly weren't ostentatious. I suppose they are well off. or 'rich', one who died a few years back was a millionaire. Good luck to them. As long as they're decent people, who cares? It doesn't impact my life, I'm content with my lot.

Monkeysatonthewall · 05/10/2024 20:19

I'd say that's a working class family.

cartwheelsandhandstands · 05/10/2024 20:18

Wealthy.

Anyone who says otherwise is mad.

I work with people who genuinely don’t know where their next meal is coming from.

ChateauMargaux · 05/10/2024 20:17

https://www.statista.com/statistics/416102/average-annual-gross-pay-percentiles-united-kingdom/ Top 10% is something like 66K and top 5% is 80K. I suspect they are in this bracket if they are paying for 2 children in private school... they may be chosing to spend their money on education, property investments and holidays rather than desserts.. but they sound rather unaware of how well off they really are and somewhat insensitive to your situation.. I am not sure how I would respond..

UK annual full-time salary by percentile 2023 | Statista

In 2023, the average annual full-time earnings for the top ten percent of earners in the United Kingdom was 66,669 British pounds, compared with 21,000 for the bottom ten percent of earners.

https://www.statista.com/statistics/416102/average-annual-gross-pay-percentiles-united-kingdom

cannynotsay · 05/10/2024 20:12

Erm wealthy!!!!

qwertyasdfgzxcv · 05/10/2024 20:12

FFS

thedefinitionofmadness · 05/10/2024 20:12

they'll feel skint because of their expensive lifestyle choices (private school, leases, second home) and their investment properties

obviously they are not skint, they've just chosen to spend their money (on things that many people couldn't dream of in their lifetimes.)

they are likely hanging round with people who have a lot more than them which distorts their perspective.

so, yeah, wealthy - but they've spent it all.

FloordrobeIsGoingToGetME · 05/10/2024 20:11

They sound horrible, OP.

With this sort of situation, I always think 'how do you know they have BTLs and the loan-to-values'

Not at you, OP, but how bloody crass to share that sort of info as general knowledge, especially with people who might have less income/options.

We have a couple of rentals and the only people who know about them are us and our tenants.

They sound shit, to be honest. Anyone with that lifestyle who actively says they can't afford starter/sides/dessert when out for meal, shouldn't be out for the meal in the first place, in my book.

HaveYouSeenRain · 05/10/2024 20:11

PigletJohn · 05/10/2024 20:09

I have no doubt that anybody in the top 10% of wealth ownership, or income, or both, is wealthy, and anyone in the bottom 10% of both is poor.

You can quibble about quite where the line ought to be drawn, but the family described are wealthy.

You do not mention the value of their home but one can guess it is more than any of their other properties.

She said it’s 700k

PigletJohn · 05/10/2024 20:09

I have no doubt that anybody in the top 10% of wealth ownership, or income, or both, is wealthy, and anyone in the bottom 10% of both is poor.

You can quibble about quite where the line ought to be drawn, but the family described are wealthy.

You do not mention the value of their home but one can guess it is more than any of their other properties.

Parry5timesbeforedeath · 05/10/2024 20:08

that is roughly our situation and i consider us wealthy and would not be so crass as to claim i were struggling.

Disappearedwife · 05/10/2024 20:06

Can you afford a £400 watch though?

Butnothingsclear · 05/10/2024 20:05

HaveYouSeenRain · 05/10/2024 20:04

Bottom line is I think OP is jealous or has some other issues with them. I have plenty of relatives who constantly say they can’t afford things when they have plenty of money. Some people like to moan or are very tight.
for me the family doesn’t sound particularly cash rich, private school for two costs a bomb and only one person is working.

They have three holidays a year. They are not cash poor.

Butnothingsclear · 05/10/2024 20:04

Bellyblueboy · 05/10/2024 20:03

Well off.

wealthy is private jets. Full time staff.

No it’s not. If you look at the global population and how the whole of humanity lives, lots of us in the UK are considered wealthy. You are talking about the super rich.

JudgeJ · 05/10/2024 20:04

haleeeee · 05/10/2024 18:06

@Pootles34 asking because this is my brother and sister in law and they repeatedly claim they are struggling. It makes me feel shit as I have much much less and do genuinely struggle!

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For Christmas buy them a book on Money Management, sounds like they need one.

HaveYouSeenRain · 05/10/2024 20:04

Bottom line is I think OP is jealous or has some other issues with them. I have plenty of relatives who constantly say they can’t afford things when they have plenty of money. Some people like to moan or are very tight.
for me the family doesn’t sound particularly cash rich, private school for two costs a bomb and only one person is working.

CautiousLurker · 05/10/2024 20:03

Given the definition is as follows; yes, you are:

wealthy
/ˈwɛlθi/

adjective

having a great deal of money, resources, or assets; rich.

Edited because accidentally posted before finished…

But, come on, you know this already, don’t you? The issue is that your DBro and DSis may, however, be cash poor. They need cash fluidity to service the properties etc. ie still wealthy, but can understand why there are times they struggle.

Butnothingsclear · 05/10/2024 20:03

HaveYouSeenRain · 05/10/2024 20:01

3k for a family of four is nothing. Would never consider that wealthy

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I’m saying that they do have disposable income. So they could decide to buy cake. It’s not just that they value education.

Growlybear83 · 05/10/2024 20:03

You surely don't expect anyone to say you're hard up, do you? Of course it's wealthy - beyond many people's dreams.

Bellyblueboy · 05/10/2024 20:03

Well off.

wealthy is private jets. Full time staff.

Butnothingsclear · 05/10/2024 20:02

K8ate · 05/10/2024 19:54

They probably do work hard and so do people who are on minimum wage.
Your comment ‘suggests’ that they deserve what they have on that basis which is irrelevant really.

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Well said. This whole idea that if only we all worked harder we could all be wealthy and if you are wealthy you must have worked hard. It’s rubbish.

FasterMichelin · 05/10/2024 20:01

Yes, wealthy.

TheoriginalMrsDarcy · 05/10/2024 20:01

I'd say it's comfortable, not wealthy.

I would class wealthy as having over £3mil in assets (fully paid) and cash.