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.

Just can't believe you have a 6 bed house and no cleaner. Your household income is £500k but you scrub the toilets?

Sounds like you were made to be a SAHM as you also love to cook and had your career in the past.

Some always have a cleaner if they can afford it due to not being domesticated.

What's your favourite part of the day?

It seems like you have a lot of outgoing, what do your investments/savings looks like?

I don’t consider 3k a month to be wealthy. And presumably you have to pay CT and utilities out of that.

Sure, on paper, amazing. But because of your outgoings I think my family is in a better financial position than you month on month and I certainly don’t feel rich.

How much do you spend on holidays per year? Do you have a holiday budget?

Do you think the money is worth it, not seeing your DH and him not really being involved in your DC’s lives?

I feel like I have a better life than you describe but we earn a lot less. Our household income is a 5th of yours but we have a much better work life balance. My DH plays an equal part in our DC’s life. I’m not sure the extra money would be worth it. My DF died before he retired so I guess I always think it’s best to have a good life now rather than waiting for retirement.

Jesus, what is with the posters saying the thread is pointless? Or posting comments like "I'm not sure what you're trying to achieve" which is just straight up rude. I'm enjoying the thread OP!

The title wasn't "AMA about my job that earns me £500k and how you can do it too" it was clearly about the lifestyle on a £500k income - which the OP has, whether it is her DH's income or not. Someone said there isn't anything to learn here but AMAs don't have to be about imparting priceless knowledge, some of us are just nosey!

She's not pretending she's the richest person to live in London, she's answering questions. Some people might think a £500k lifestyle is all private helicopters and household staff, some people might consider it peanuts, that's what an AMA is for.

Also very interested in the candle question.

Why do you need a school hours job when you could use childcare?
Im always intrigued when parents primary + children say they are SAHP rather than unemployed.
I work in a stressful but rewarding job, my children attending some childcare seems a good compromise to ensure I can work. Is there anything you want to achieve personally outside of your husband? Do you feel in his shadow?

Maybe she wants to be around when her kids get back from school? Novel idea I know

The responses and comments on here!!!
We are high earning but make less (more like £250k) and have 2 kids in london - really interested in this thread as I feel like we are jogging to stand still / running to make minor advances.

• What sector / role is your husband in and were you in? Assume you are salaried rather than ?

Would you recommend it as a career?

• The chalet 😍

was it something you always wanted? How much did the chalet cost? How old were you when you could afford it? How did you pick where to buy your chalet? Do the kids love going? Does someone mange it for you? Financially, do you let it out / make a profit on it or it is just friends and family?

To be honest I'd love the money of course, not everything that goes with it. And the more you've got the more expenses you have usually.

Do you have full, unrestricted access to his bank account and do you have any hobbies?

What a distasteful attitude.

so because the OP has money your immediate thought is that the drudgery can be offloaded to a serf.

check your attitude!

Some questions!

1. Are you worried about inheritance tax or capital gains tax and did you put your current house in trust? Will you put all future assets in a trust and if so, will it be a living trust?
2. Roughly where in North London and what style of house do you have (and no I don’t think it’s outing as it will describe a large minority of families there!)
3. Do you have a good IFA or accountant and if so can you PM me their details please?
4. Do you have a personal trainer?
5. What is your favourite clothes shop and how would you describe your style?
6. Where do you holiday - any favourite hotels/resorts or countries?
7. What sorts of projects do you want for the house and how much would they cost?
8. What did you pay for your house and when?
9. If money was no object, what would be your favourite interior style for your house?
10. How much money would you need to fulfill all your ambitions for the house and future savings?

I appreciate you know you are lucky financially but this thread also shows that even on a high income, you cannot have absolutely everything simultaneously and you have to budget.

That's what they all say, OP. Then, they're back here, deserted and up shit creek. Quietly start making Plan B, just in case.

Your children are blessed to have you at home. They have a good balance

I guess the sort of people who might watch Made in Chelsea or the Kardashians I guess.

Judgement is rife on here.

I work and have a husband who earns more than the OP’s.

My husband wants me to give up work, so that I can slow down, do things I want to do, as I supported him when he was setting up his business.

According to everyone posting he was a sexist pig, he did say that I could go out for lunch, gym etc.

Are you left, right or middle when you vote in the general election?

No, I'm just nosy. HTH.

Yes, every single SAHM who has ever said this ends up back on MN penniless and homeless. Every last one 🙄

I m assuming because of the mortgage amount you are paying the area you live in is very affluent and so the schools in your local area are probably pretty good. Why did you decide to send your children to private school?

Just can't believe you have a 6 bed house and no cleaner. Your household income is £500k but you scrub the toilets?

and another one who needs to think carefully about their attitude before posting and how they come across.

you do realise that what you're actually saying here is that because the OP has money then it's taken as read that another (99.999% likely) woman really ought to be doing that menial task. Good god.

Oh. I’m out… someone genuinely wealthy would never post an AMA like this surely?

Our household annual income is around £480k , combined as I work too. And we have friends who are not in the same boat ie childhood friends , and others who are (mainly school parents). It would never even occur to me that anyone would be that interested to ‘ask me anything’, seriously.