To think the problem with wealth inequality is that rich people don't know how rich they are?

We feel broke, everything is more expensive, things we wouldn’t have thought about spending on - we now give quite a lot of consideration. Although we aren’t huddled under a blanket with the lights off, contextually we don’t feel particularly wealthy and are more careful than ever. Wages in our industry have stagnated, at the same time costs for everything have increased drastically. It’s not a case of shaving off a few caribbean holidays sadly, it’s rethinking larger fixed costs like mortgages and school fees. The latter being a cost we could choose to allow the state to pick up. If lots of higher rate tax payers decide to spend less on things like mortgages, consumer products, school fees etc, growth will continue to nosedive. Reeves has a tough job however she slices the pie. Ultimately people are always in favour of someone with more money than them paying a larger proportion of the country’s taxes, but that will mean services continue to erode, with those paying the least tax being most likely to need the very services that are decaying because of underinvestment.

Our house was £290,000. Just under the national average cost of a house.

We pay £1400 a month in mortgage payments.
We pay £260 p/m council tax.
We pay £250 p/m gas and electric.
We pay £70 p/m water.
That’s £2k a month just to live in a warm house (of average value) with running water.
Then add on the cost of food.

We earn very good wages, much better jobs than our parents, but in relative terms, we’re much, much worse off.

They can afford them. They just aren't swimming in cash. It's really not the same thing.

Fwiw I agree with @Differentforgirls on the subject specifically that it's better for children to have more rather than less direct time with their parents, all things equal.

I've calculated that a few more years in the grind are worth it due to a million personal circumstances that I'm sure everyone on this thread is going to grill me about, but in a perfect world with no constraints I'd be a SAHM or very part-time only, and I think children do well with that as a model.

What about the children?

What about the children?

As long it's what the person wants and is happy with, we shouldn't judge.

Oh right. I thought you meant the children too. Do they also discuss what’s best for the husband? That he could go part time or be a SAHP?

The family? Husband and wife discussing what's best

what do you mean by “family “?

Why are people complaining about whether a mum chose to work or not? As long as the family made the choice, it's their choice?

Yeah, it grates a bit when people on £100k whinge on about not getting certain benefits, but OTOH a lot of people are very grabby and entitled about money that isn't theirs which they didn't earn.

People in this country seem to have a real disdain/jealousy for the rich. If I'd worked hard and got a law degree for example, done the 18 hour days etc as a trainee, I'd probs not have much time for people bitching about me when my taxes pay for them to have benefits that I don't qualify for myself.

People love to berate the wealthy and then get oh so butthurt when said wealthy people fuck off to somewhere that doesn't tax the fuck out of them and welcomes the business they bring. I think there should be equal focus on all the lazy fuckers that don't want to work yet expect provided for.

Agree, but this is often due to lack of financial information, particularly at an early age, or poor life choices.

I totally agree with you- I live in an area which has been completely gentrified (live with parents as can't afford to rent) and most of the ppl round here have no idea how good they have it.

Also lots of people with second homes moan; I have had 2 near-identical conversations with mums from school where they are gettig their houses completely renovated/ extended (as much as is feasibly) possible and they have had to decamp the family to the flat they own. Apparently it has been "hellish" 🤔 🫩 it's like you're sitting on £100's of thousands of pounds it is just in the form of a home in the south east.
They make a passive income too, normally, by being a landlord. People always forget about passive incomes.

There was an insane (imho) thread on here about how £45k isn't a good wage and it annoyed me so much because it IS a good wage. It might not get you as far as it used to but OMG if you're in a couple and you both earn that you're earning nearly £100k!! And people were still moaning. It's madness.

"where you choose to live"

Savings are often a luxury for folk on average or below average incomes.

Oh my god another idiotic thread bashing people making “six figures” which can be 100k for a family and is really not a lot as “rich people”.

do you know that in london nowadays you need 300k for a family with young kids not to feel rich but just to have MIDDLE CLASS lifestyle? (Less when they go to school and childcare costs drop provided there is no private schooling)

rich is 500k +

You said “good” when someone asked why you were trying to shame others

so presumably that would be your feeling of you made your adult child feel ashamed for doing the same

£100k is £5400 after tax, NI and 5% pension contribution. £2k (for mortgage on a two bed terrace where I live), £2k in childcare fees, £495 for monthly railcard. Leaves £900 for all other bills and food. It’s hardly a luxury lifestyle and would not meet any reasonable person’s definition of rich. My dad is on a state pension only and has more than that to spend on food and bills.

I don't think you understand it either @Neeroy "six figures" goes from "100 000" to "999 999"
It also goes for 100k supporting a family of 5, to 100k supporting a single individual.
It's not one big bucket that you can define as "rich".

I earn 100k, I would have felt very rich with that when I was single about 8 years ago. Actually, I earned half of that and felt rich.

Now, being the main earner of the family with 2 toddlers and a third on the way, and the crazy years of inflation, I definitely don't feel rich.
It's six figures that pays for the mortgage on a semi-detached house that's too small, basic holidays at our parents because we can't afford to travel, no savings, a car that keeps breaking down but we can't afford to replace, commuting over an hour at 6am to avoid peak fares that increase by 20% each year, a childminder and council nursery because we couldn't afford the private nursery anymore...

Nope, that's not rich, that's just trying to maintain basic standards of living that used to be a given 20, 30 years ago.

The shame is on those earnings way way way more than that, who thinks it's ok to pay themselves millions whilst they keep their staff on minimum wages.

If people feel shame it’s not down to me.

It's like running speeds. It's all relative. I used to think a sub 30 5k meant I'd be a good runner. Now I'm sub 25, I still don't think I am because the post has moved. Unless you're the richest person in the world, there'll always be another degree of richness that makes you feel less rich.
It's naive, of course.
Do I think people with six figure salaries are rich. No. Well off, but not rich. Rich to me is having savings, investments, holiday homes and no mortgage.
I'm on no where near six figures but I still think that.