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.

Where do you go on holiday?

Me too. Makes sense though, especially with the subsequent reference to Primrose Hill, which is on about the same “latitude”.

Why do you need an SUV if you live in a city?
Do you care about the environment at all?

Why do you need an SUV if you live in a city?
Do you care about the environment at all?

How many square feet is your house?

Hotel recommendations?

@Jessforless I genuinely don’t understand. If you’re bringing in so much money, why would you leave yourself in this position. Our disposable income is quite a bit higher than the OP’s remaining 3k and I certainly don’t feel wealthy.

But she doesn't get by on £3k a month. It's £3k after mortgage and school fees and an additional approx £7.5k a month typically in bonuses
£10.5k ish a month for pension and living expenses is quite doable without being overly stressed. I'm not sure why you think not

Thanks for the information re cars. Like you we fear having cars that make us stand out. We’d also worry about the kids coming in and out if there were people intent on getting the keys. London is a hard place to have any wealth.

@T0PENNIS - are you trying to “out” the OP?

If so I think that’s pretty poor behaviour and your posts should be deleted.

Okay I'll ask for them to be deleted. But maybe people should be careful about what they post on the internet

How do you not feel even slightly wealthy?

I’ve reported your posts too. But you must think me very stupid everything I’ve posted is completely accurate. I’ve given equivalent details but not exactly my situation. I’ve asked that this thread is deleted if they cannot delete your posts.

@T0PENNIS seriously? You're trying to doxx the OP. In what world is that acceptable?

Sorry 😬 they've gone now

After mortgage and school fees - so still needs to include utilities, council tax, travel, food, birthdays, holidays, insurance etc etc.

Bonus isn’t guaranteed.

And what about the SUV though? Do you live on a farm in London?

It doesn’t get used much, apart from long distance travel. We assume the environmental effect of selling and buying a brand new ev is more than waiting a few years using what we have rarely and having it sitting on the drive. We are very environmentally conscious in other ways.

There was a old 90-00s TV show 'Babes in The Wood' - set in St Johns Wood. Although DHs grew up there, his parents still live there, and I've never heard them call it that.

I mean my-only-DH not DHs! I don't just marry and divorce men who grew up in St Johns Wood! 😊

I think this is such an interesting thread and proof that everyone lives to their means. Op mentions having over £1m equity and some savings which is obviously a help if things hit the fan but if the circumstances hit that op went from current life to a small house etc etc lifestyle wise it would still be a huge shift. Inc bonuses, dh and i earn around £175k joint. We have a small holiday flat in spain in addition to our uk house, and one child. Our house is worth around £600k with probably just short of 40% equity. We only have one child. In many ways our lives are extremely similar but our costs differ hugely. When i was growing up, i would have thought if i was in a household earning my household income - never mind the op's, we would be living like kings - but unless you choose to never improve your lifestyle as you earn more then most people who live their life on earned income probably do have somewhat comparable lives, its just the houses and holidays will become a bit more grand or fancy.

All the best to you op.

OP, my husband works in the same industry and he earns well but not that well. I just mentioned your household income. He was surprised your DH earns that much in that role, even if v, v senior. He is friends with colleagues who are among the most senior in his company, for instance. I said you’re probably protecting your anonymity through vagueness of course but he wondered if your DH tops up his salary through shares in his company and things like that etc. I’d be really interested to know if this is the case. Tbf, I don’t fully understand my DH’s earnings when he tries to explain the streams through his investments etc. Before anyone says “What about your income?” which always crops up on these threads, my income is pretty straightforward just through my salary but I’d love to diversify it. I’m pretty savvy with my pension and savings but investing scares me. My husband is far more risky on the other hand.

Thank you for the thread btw!

@Jessforless After mortgage and school fees - so still needs to include utilities, council tax, travel, food, birthdays, holidays, insurance etc etc.

Bonus isn’t guaranteed.

Sure bonuses are not guaranteed but in the entire time my DH worked in banking there was never a year without a bonus. It was bigger or smaller but it was always multiples of his salary every year. It was technically not guaranteed but it was always paid. The OP also has savings so in the very unlikely event of a rubbish bonus they have means

sorry, poor wording choice.

We don't feel excessively wealthy and I assume that without my salary, which is low/just under 6 figures, we would feel quite a bit less so. My point was that with similar circumstances I am a bit surprised the OP doesn't feel the push to work, because I always feel that I need to. As she points out, the cost of certain things, which are choices (big mortgage and school fees) adds up very quickly, leaving you feeling yes comfortably off, but not rolling in it insanely wealthy by any stretch at all.

We have a similar lifestyle and make similar economies to what the OP describes. Dupes, etc whilst driving a highish end car. Not just flashing it around the whole time.

Wood Green?