AMA Income over £500k

[AMAIncomeRelated]

Following the thread on the disadvantages of earning just over £50k, it got me thinking that if some people think that is a huge amount to earn, what do they think of my life.

We live in North London. Husband earns a lot, over £500k most years. We live in a big house, with a huge mortgage, 3 children at private school, 3 dogs, own a ski chalet which is let out as well as for our use. I don't work, I did try a part time job 5 years ago and whilst I loved it, it cause too much stress at home because my husband is used to me doing everything.

We obviously live very comfortably, but also there are lots of things we'd like to do but can't afford the big projects at the moment. My husbands job is very stressful.

AMA. I am absolutely not gloating, I know only too well how fortunate we are.

@Throwaway1234567890000000
My children learnt the value of money when we lost the lot!
Base salary of £300k in 1997, huge 11 bed property, no other debt.
We invested unwisely in 2006 and lost everything including our home in the crash.
It took over a decade to get back on the property ladder. The children left private education after I sold my jewellery to keep them there until year 7.
I am now a high earner again and I save half of everything.
Big jobs cost big money to support. Clothes, lunches, travel. Ditto posh postcodes.
Both my adult DC are great, ebayers, aldi etc (although I've just been on a Marks food shop with an expense tastes DD). Personally I don't have joint finances but I am the bigger earner.
Have your own money is my advice.
I have four millanaire friends, three don't like their husbands. Money is choices.

Do you feel 'rich'?

Compared to the average family? Compared to your friends?

Compared to people whose jobs bring their life meaning - could you explain what it is about you that allows you to feel fulfilment and purpose from focusing on caring for your family?

Why would you put more strain on the NHS if you can well afford not to and would have received better care private? Sure it's within your right but just because you can doesn't mean you should. You're taking up a space that someone else needs that you really don't.

For people commenting about 'filling time' when you don't work, I'd just like to chip in and say that plenty of us retired women are very busy with all sorts of things, from the intellectually stimulating to the frivolous lunches with friends to the community service of voluntary work.

I had a long, successful career but if I'd had the chance to be a SAHM with a high earning husband I'd have jumped at it! I'd live in a large house in leafy Highgate, swap the ski chalet for a villa in Italy and a cottage on the Dorset coast but otherwise, I know I'd have enjoyed the OP's life.

I realise I've arrived a bit late to this, OP, but if you're still here:

Can I ask about your politics? Who do you hope wins the next General Election, and why?

@AMAIncomeRelated thanks for posting.

Do you ever worry that your kids or you will lose all perspective of money because you can have and do what you want?
I am abroad, DH earns well. We have friends who earn similar to your husband and sometimes I find it all a bit too much - the kids birthday parties are extravagant - other parents buying £100 gifts. Their kid ripping off the paper, tossing the gift into the pile. Kids in designer clothes. Parents who have lost all perspective on money. This is just my experience but definitely want to not bring my kid up in this environment.

• does it bother you that your DH has to spend so much time at work? Or are you just used to it now? You used to work in a similar role/similar hours? I have a friend whose DH is a lawyer and he works all the time, long hours - will come out for dinner then go home and work at midnight, get up at 5am work on a weekend, works on holiday. I think it would drive me insane. Would you ever trade it if you could for a more modest life but your DH being present? No judgement here, I know some wives who like their husbands being out of the house.

-what's your long term plan?

What is your dh’s job role?

Do you not really miss work though? Don't you get bored?

Really interesting OP.

Can I ask, if you would change anything about your lives, what would it be, and what sacrifice would need to be made? Lastly, what has/might have stopped you from making it?

Love a good Jo Malone candle rip-off!

TBH I am struggling to understand why the OP started this unless it is to boast. Particularly right now when people are struggling. Properly struggling without their ski chalets and 3 kids in private school.

Where do you go for things like bags, shoes, clothing?
Do you look effortlessly stylish?

Ooh and do you have any pets?

Please and thank you!

Do you believe in private schools?

What is your DH's career?

So not rich in the slightest really. Would be if wasn't wasting money on school fees!

Our household bills (not including mortgage) are £1500 - so that leaves her with £1500 at best. My food bill is nearly £850 a month. Then there's fuel on top.

Basically lots of income coming in but not actually any money. I would be lying awake worrying at night! You can spend £30 a day just leavning the house these days!

So many jealous women here, really silly. OP is a very successful woman as she sounds very happy and fortunate. Doesn't matter how you get there. That is what being successful in life means, and if you disagree, that means you work with the wrong definitions.

jealous of having a lot of disposable cash perhaps, but it’s Ops DH who is the big earner, I don’t know if I like on attaching a woman’s success to marrying well.

i also think how the oP has phrased somethings is pretty upstairs/ downstairs awkward

Do you wear kate spade cat shoes and accidentally include them in pics of your pregnancy paperwork?

Iykyk

On a £500K annual salary, your monthly take home should be £23,000 a month, not 14K. Just saying.

Ditto. I'm not sure the 2% is that interesting.

I'd say the 0.5 to 0.1%, it gets interesting. We are then talking about places like this: https://www.struttandparker.com/properties/garway-road-1

I'd like to know what it's like to have a swimming pool and sauna at home! In Central London!

Did you factor in 50% tax?

www.rightmove.co.uk/properties/141107810#/?channel=RES_BUY

OP do you live here?

I think you should go back and read all of OP's posts!

Every single SAHM thread. So fucking tedious 🙄🙄🙄

The NHS is there for everyone, you don't get to dictate who can and cannot use it.

I just don't understand questions like this. Could you really not find things to do to fill the 6hrs a day when your children are at school? When I was a sahm I went on a run or long dog walk everyday. I read lots of books. I met friends for lunch or to go paddle boarding or wild swimming. I volunteered a couple of mornings a week at a baby bank, once a week as a home start volunteer and one evening a week for a charity offering free therapy to children and young people. I was never bored and I don't feel more fulfilled now that I am in paid employment. I certainly didn't miss work! I also have a great social life as I didn't feel bad go for nights out or weekends away as I was there for every school drop off and pick up. Now I work I feel guilty going away.