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.

4k isn't modest IMO, that's more than me and DP bring home between us on 50k

Why on earth are you doing the housework? What is the point of all that money if you are still the skivvy?

Your husband earns that, you certainly don’t. Frankly I don’t really understand why you have made this thread apart from to brag. You said AMA, so how does it feel knowing you haven’t worked for that money that you spend on yourself?

So you only have £3k left, after paying the mortgage and school fees? That’s less than our household income per month as the children go to state school and we have paid off the mortgage. It isn’t a lot and I’d be worried about covering the bills on what I presume is a big house? Obviously the annual bonus might be a fair whack but you’d need to save for the future as well.

I’m guessing you live in Muswell Hill

And user39677, what do you earn, and what does your partner earn?

If the mortgage is a killerand your dh is stressed you’re not exactly in a great place.
why don’t you work, help with the mortgage . You consume but don’t contribute to the high cost lifestyle or killer mortgage
Why don’t you down size try get mortgage free or reduce the mortgage

Do you drink wine at £1000 a bottle? I know a guy who does.

She contributes by being the SAHParent

She cleans a 6 bed house
She cooks
She looks after the air b and b
She probably does a tonne of worthwhile and valueable other stuff.

To the people saying that her income isn’t £500k - you obviously don’t have any friends with husbands on that income who have divorced. I know at least three women who got around 85% of the assets of the marriage following a divorce in which they didn’t work out of the home but because of the length of the marriage and staying home with the kids they were compensated hugely.

What is your total family wealth including the equity in the house?

Whst is your mortgage amount?

What does he do??!!

She consumes without contribution whilst he carries a killer mortgage
she is the beneficiary of all of it without even minimally contributing to their huge outgoings . That simply is not contributing. Some charity work and stuff at school contributes zero to the killer outgoings. Being worthwhile & valuable is an activity it’s not a contribution

It's not their entire self-worth.

And no one has to retire these days anyway!

Employment is part of a lot of people's identity.

And some are freelance/ self employed in later life, so they can manage their workload to suit.

I find it very satisfying indeed to buy something for myself, knowing I've used my skills to earn that money, even though (as a couple) we have a substantial pot of savings, accrued over many years, I could use.

But I appreciate not all women feel this way.

ok, monthly income around £14k, mortgage £6k, school fees £5k. Then annual bonus on top which varies.

Isn't it more like £23k per month?

We live in North London.

Islington?

Highbury?

Crouch End?

You've not accounted for all the avocadoes you consume.

It’s actually hard to go private in London for births. The Portland had an ethos of intervention that not everyone subscribes to. There was a hospital called St John and St Elizabeth’s (now closed) that was lovely but made it clear that in an emergency you’d be red lighted to the Royal Free, the local NHS hospital.
The OP pays into the system so can choose wherever she wants for her births.

Do you have female friends who have less money than you - and if so, how do you negotiate things like restaurants, outings, birthdays, shopping trips etc... are you always having to hold back a bit, and not spend on things you normally would - or is this not an issue?

A huge number of London based financial and legal people will earn over £500k per year in total comp. Many senior bankers and solicitors will earn 250k as a base salary and then another £250k in bonus. About half of that goes to taxes, a huge chunk to life insurance, mortgage and pension. £20k per year a child in private education. You’d be surprised how little disposable income is left as a percentage of total income!

Have you ever bought yellow sticker food?

What do you eat for breakfast and lunch

How often do you change your Egyptian cotton sheets

What's is your gas and electricity bill per.month?

What's your Indulgence?

Who cares? Loads of couples live this way.