To think most rich people don’t understand how the rest of us live?

You can't just apply inflation to one side of the equation. The cost of the coffee and toast will also increase in that period, plus you'd get the investment return on the saved money.

I am always stunned how many people can't grasp this - or even the very simple fact that the same percentage of a bigger amount equals ... a bigger amount.

All content—podcasts, social, advertising—has a target demographic. You may just be consuming content you’re not the target demo for.

I wouldn’t relate to a financial podcast for almost-retirees, or a lifestyle site aimed at 20-something digital nomads, or a social media account targeted towards rural parents. It’s not for me. There are so many niches now with behavioral and micro-marketing it’s hard to find something broad enough to have wide appeal and relevance.

Not everyone can be successful as well as raw intelligence you need a personality that brings something to the table and that is something that can’t be taught or bought.

@MyrtlethePurpleTurtle There is a lot of truth in the bootstraps theory. My brothers are 100% like this. I try not to be and am aware but it runs somewhat within me at a low level.

In the example given their bills ARE covered (..."after..."). versus can't cover bills and have nowhere to cut back in order to cover them.

@BoredZelda

It is no surprise that the people who have the most money pay the most tax. Do you think they shouldn't?

Let’s not pretend people have much real choice in picking schools for their SEN children. LA provision is woefully inadequate. This isn’t a choice about giving your child a leg up, it’s giving your child the chance to be educated so they can live independently and not rely on the state for the rest of their lives. A family making the choice to sacrifice a lot to send their SEN child to a private SEN provision is of great benefit to the tax payer of the future. If only the government would recognise if they did the same for all SEN children, the future would be a lot brighter for the taxpayer.

10% of the highest earners account for more than 60% of the income tax receipts. They are also far more representative in land tax, CTG and inheritance tax. They already do pay most of the tax.

You can argue they should pay more, and you can argue the percentage of their income to tax should be higher, but you can’t argue they don’t already pay the most.

In 10 years, assuming you save £10 every single day, (which is unlikely) your £36,500 deposit would be wiped out by the predicted 17.5% increase in house prices over the next 10 years. On the average house price, that’s an increase of about £47,500.

What’s odd is that people seem not to appreciate the actual barriers to young people getting on the housing ladder.

It’s the literalness that’s odd here
”avocado toast” was a shorthand for “spending money on expensive none essentials” - which I noticed was £8 - 10 in London pre pandemic

now for every person for whom that would make no difference there is another who is claiming they can’t afford a house but has spent an absolute fortune on a few years on what to other would be seen as luxuries

£10 a day on average saved - so no lunch and coffees out and a bit less on nails and hair - and in ten years you have a great house deposit

I remember the advice for millennials, which went something like if you want to buy a house stop buying avocado toast. I've never bought avocado toast and I still can't afford to buy a house!

We're living in an era when essentials are expensive and luxuries are cheap. It's fucked, is what it is.

Sounds to me like you're stuck in your own silo... Whats rich?
Many rich people have ordinary humble grounded origins.
If you drive a 20year old fiat 500 and live in Chelsea, you down as rich on here, even if you are not.
From your post I don't think you're talking about oligarchs, more inconsiderate, patronising people, but they can be rich or poor.

Yep. And people on low incomes don’t know how “rich” people live either. No one has a perfect understanding of how other people live because they don’t live it.

Just to add into the mix:

Some people earn a moderate amount, live in a moderate way, eschew debt and save diligently. End up with an impressive nest egg.

Other people earn six figures, have a huge mortgage, massive car loans, and spend every penny they earn. Get made redundant at some point and it all comes toppling down. Nothing substantial to show for it all.

Some kids have it much harder than others.

This.

And some people emerge with poor grades due to living in temporary accommodation and having no quiet space to study, being a parents carer, having chaotic parents. I had a friend who struggled as her mum was an alcoholic and constantly wanted her daughter to be chatting to her / keeping her company and would whine when she tried to study. Some kids have it much harder than others.

@ThisTicklishFatball

You seem uncomfortable with idea that the people who have most of the money should pay most of the tax needed to keep the nation running.

There's not much chance of squeezing it out of people who haven't got any.

Many people seem to dislike the wealthy while secretly wishing for the same level of wealth. It’s common to see criticism of the rich, yet expectations for them to fund public services through higher taxes persist. Similarly, people often criticize the wealthy but don’t hesitate to request financial help when needed.

The poor want the rich to support the entire structure; they see themselves as the house, with the rich as its foundation.

The wealthy work diligently to safeguard their assets, while the poor often work tirelessly to build their own or sometimes feel entitled to the wealth of the rich, desiring it in any form or manner.

It’s a paradox of life: if you have money, people resent you; if you don’t have it, they resent you too.

I often see posts on Mumsnet where people express resentment toward their parents for owning a house, even going as far as wishing for their parents to pass away so they can inherit it. The site seems to have a number of users who hold bitterness and dislike toward their parents, frequently displaying eagerness to claim their assets.

At what age did you stop thinking a porch indicated wealth that would have someone saying “just buy a house instead of renting” or “take a year off to travel and find yourself.”??

Yes I do agree to a certain extent
that doesn’t mean we don’t understand though.
If I thought that then I’d think my parents and grandparents could have fought against their lot and could have done better.

I think that they did the very best they could with what they had

Yes. I guess it was ignorance on his part as much as anything.

I don't. As I said his adult DC are lovely and they area;so still very to our adult DC. I'm very impressed that their childhood bond has overcome old class stereotypes .

its just me that's bitter about his patronising attitude to DH many years ago.

But you definitely have more of a chance of further study or progression, certainly more than somebody without (for whatever reason).

I know the type!

But I would add don't judge his kids too harshly.

We all learn things from our upbringings and then - its human nature - tend to over-compensate.

Your dc may have learned that there are advantages for those who have inherited money and have tried to compensate for that; his may have learned, having had plenty of money growing up, that money isn't the be-all and end-all and wanted jobs that were more fulfilling for them at a different level. Perhaps your dc's dc will be the same!

Most things in life tend to operate on a pendulum swing to some extent.

Of course it doesn't guarantee anything at an individual level. But statistically it will make a difference and it makes sense to play the averages. Work hard at school and you massively improve your changes. I will certainly be continuing to encourage my kids to focus on school work rather.