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.

I like your post op and you sound very grounded and that you appreciate what you have. Good for you 😊

Honestly, this idea that the only way to fulfilment in life, is through having paid employment, is wearing. People can have fulfilled lives outside the working environment.

OP says she doesn't mind cleaning and likes cooking so she's a much better housekeeper than I am! I have gardening expertise, which I prefer to use as a supervisor to the one doing the graft!

I'd like the lifestyle of an Edwardian lady who has a full staff and plenty of time to pursue her own interests eg cataloguing fossils and doing voluntary work.

How much do you give to charity?

11k outgoings is madness on a 14k monthly income!

Do you save from your monthly income beyond pension? Something doesn’t seem to add up because your utilities will be high on a big house!

If it were me, I would feel overstretched with those commitments and monthly salary.

That would be the bee's nuts wouldn't it.

I don't understand the mentality of people who say "I don't know what I'd do all day if I didn't work". Christ, I can't even think of where to begin with all the stuff I'd do!

I have a friend who is married to a man who earns ££££££££££££. They have a very luxurious life. Lots of holidays, nice house, nice cars. She has never worked.

she is utterly miserable in her life. No amount of luxury holidays, personal trainer or expensive jewellery can erode her feeling of utter low self worth due to feeling like she has no purpose outside of making her husband comfortable and happy.

I wouldn’t swap her my life for hers, even on my most stressful weeks at work. The self esteem I hold from feeling like I contribute to our life is immeasurable

Do you ever shop in charity shops or buy second hand?

The OP mentioned higher in the thread that their bonus can be 90k a year after tax so that’s a big boost on the savings etc

I mean....your friend is not the OP so I'm failing to see the relevance of this post tbh.

Plenty of us SAHMs do have extensive purpose beyond our husbands and children and homes.

My DH earns a similar salary

Same question re. most expensive candle please

If you’re happy and DH is happy then great! Earning that amount of money must come with more responsibility than I’d like to have.

DH sounds like a nice man which is a relief

my only criticism is why on earth would you eat pot noodles when you can afford good food? No no no

@LoudSnoringDog your friend could do lots of things that have purpose. Has she no imagination? I work full time but I can think of lots of things I would do.

Starting such a thread is designed to make people like you’re wealthy wealthy so not sure what you’re trying to achieve when you’re only talking about £500k a year.

Such a MN response!

Even in London there are loads of people earning 500k

I think that says more about your friend than anything else tbh.

Great thread op, interesting.

And most aren't on PAYE

Very interesting indeed. I always thought my husband and me earn a stupid amount, so it's nice to see someone with a similar but different set it.

We have joint income of £400k and he earns more than me but not by a huge amount. We have an 18 month in nursery 4 days with a childminder Fridays. Have a 4 bed house in london and nice car, holidays, hired help - cleaner twice a week, dog care twice a week and childminder if we need it as we don't have family to help close by.

I have just been promoted but daydream of the day I just pack it all in to be a SAHM, I think I will keep earning for a few more years, we have another on the way in October so will take another maternity and then I get a sabbatical if I stay another 3 years.

What ages are best for SAHM? I'm think when the kiddies are 7 and 9.

Thank you...

I've never said we are wealthy wealthy..... Just I know we earn a lot and are in like the top 2% or something. I thought that people might be interested to hear that it isn't all private jets and champagne every day, life is quite normal because we choose to spend on a large house and school fees.

Do you live in inner North London OP? I’m thinking Canonbury, De Beauvoir or further out?

Agree with @FizzyStream you sound very grounded & down to earth.

Hi @AMAIncomeRelated i find it very interesting and am grateful for the thread.

vis à vis schools, so not income related I guess, do your children have extra tutors? Do you do this? Do they not need it?
Also what do you plan to do on your husband’s retirement?
Do you have time to do things just for your own fulfilment like a pottery degree?

Everyone has their comfort food - I love a bowl of Heinz tomato soup - orange goodness. Can I (and do I) buy much better quality fresh tomato soup, or make my own? Yes, often. But sometimes a tin of Heinz hits the spot.

I know a multi millionaire who eats like a 5 year old let loose in the supermarket - instant this, packet that. Zero fruit and veg apart from bananas. He also eats out at restaurants 5 + days a week so I guess the crap is his comfort food.

Maybe this is fulfilled life for her?
Bringing income home isn’t the only way to contribute or add value to the family.
Your comment comes across very judgemental

Op, just tell us..

Is it great being loaded?

If my husband earnt 500k a year I wouldn't be working either and I have a really rewarding career that I have worked and studied hard for. I wouldn't find it hard to fill my hours either. I would go to the gym, ride my (imaginary) horse, read, volunteer, meet friends for lunch, etc. There are only six hours to fill between school drop off and pick up. I would be there to pick up my children from school every day. I would definitely have a cleaner.