£100k and above earners - tell me your money worries

[SortMyHouse]

Hi

Inspired by another thread!

I would like to hear from people who earn over £100k, where do you live, what do you do / sector? What qualifications do you have?

Then the reality of how far that salary goes.
What are your costs?
What are your money worries?

Thanks

you and I clearly have different comprehension of the English language

Clearly.

The OP on the other thread didn’t ask people to post their average wage, she asked people on the UK average wage to post.

She made that very clear in both the title of her post, and also in the opening post where she spoke about the average wage.

@SortMyHouse

23:58ChannelTheCalmaLlama Looks like people are on your back here too Ignore them Your situation is exactly want I want to hear about £150k sounds great But the reality like yours shows can still leave you with sleepless nights and you're just spending the basics

Like I said we are yet to have kids
I ma looking at nurseries that are English / French and Punjabi - you can't get those

You can get French / English and then Gurdwara (Sikh Temple) Education but you have to love in London, west London for that. It's not cheap. So this may not be a requirement to most, but it wil be a priority for me.

It's hard. Nurseries + mortgage is a LOT. I never expected to have to do that on my own: married a man I had been with for years, had loved together and had a joint mortgage together for years before getting married and then TTC. But then... yeah. I would never have believed he'd walk out and leave me on my own, with tiny babies. But he did. My advice would be to be very careful that you know you have a way for you and your kids to survive if need be with no help, however unlikely you think that may be. If I hadn't been so cautious, we'd all be living in poverty now. And as you've seen, you'll get zero sympathy whether you are doing it all and providing for them, while doing everything at home, or if you live on benefits.

Women cannot win when shitty men mess up their lives. Whatever we do. 😕

@VodselForDinner

you and I clearly have different comprehension of the English language

Clearly.

The OP on the other thread didn’t ask people to post their average wage, she asked people on the UK average wage to post.

She made that very clear in both the title of her post, and also in the opening post where she spoke about the average wage.

It obviously wasn't that clear, given that I and many other posters apparently misunderstood her or questioned what she was trying to ask. Reread the actual questions she asked and then think about it again.

Dp and I are on over £150k combined including bonus

Our money worries - is now the right time to have children but we can’t wait that much longer? Will that delay our planned next move further into London (currently commuter town). How will it affect my career, (my health might also cause issues). Both of us had issues with education when growing up (health for me, he is not nt) so is private something we need to be saving for?

All privileged problems but things we think about.

But regardless, I assume @SortMyHouse started this new thread - as she clearly said on that thread - to get away from the spiteful, vitriolic, nasty comments, so please go back to that thread if you want to continue with that rather than try to move your hatred over here. That's not what this thread is about, is it?

This is a strange thread. It is people on 5 or 6 or more times the average salary complaining about how little money they have and seeming to want sympathy from people on 30k who don't understand what it is like to have such large pension contributions (and therefore pensions) and mortgage payments (expensive houses) and school fees (because they can't access private education) .

@ChannelTheCalmaLlama

But regardless, I assume *@SortMyHouse* started this new thread - as she clearly said on that thread - to get away from the spiteful, vitriolic, nasty comments, so please go back to that thread if you want to continue with that rather than try to move your hatred over here. That's not what this thread is about, is it?

I didn’t post on that thread, it was clear from the title that it wasn’t aimed at me.

And there’s no vitriol here. People can disagree with you without being spiteful or vitriolic.

ChannelTheCalmaLlama
Good grief! Give it a rest, your getting boring now

@Bouncer500

This is a strange thread. It is people on 5 or 6 or more times the average salary complaining about how little money they have and seeming to want sympathy from people on 30k who don't understand what it is like to have such large pension contributions (and therefore pensions) and mortgage payments (expensive houses) and school fees (because they can't access private education) .

Yes! Well put.

There’s an really strange “they didn’t want us in their club so we’re going to set up our own more expensive one”.

Seriously, anyone who thinks that life is harder for them because they have more money than most people is, at best, deluded.

@Bushkin

I don’t worry about money on the way I did 10 years ago- eg will my card be declined, have I got enough fuel to get to work or what if an appliance breaks which is a really lovely feeling. I do worry about the big mortgage, the massive drop if one of us were to lose our job (the expectations) I worry about whether we have the spending vs savings balance right. More existentially I worry about whether it’s all really worth it…

Sure I’ve been absolutely hammered for saying similar on MN previously so awaiting the pile on on this thread too

Hopefully those people will keep to the pile on thread they established earlier tonight and leave this one alone.

People should be able to discuss these worries without it descending into four Yorkshiremen and a paper bag.

@ChannelTheCalmaLlama

And no, I didn't say anything like what you implied in your post. That OP specifically asked people to state their average wage and region and sector etc.

Don't worry about it @ChannelTheCalmaLlama - I misread that thread as well. Have a nice Friday evening and weekend. :)

00:24Bouncer500
Anyone can comment just as you have, it's a free country

However, it's is a thread for six figure earners to advise other six figure earners especially living in London.
£30k earner won't have the advice I'm looking for.

I’ve not get any worries to share, but just wanted to show some support to @ChannelTheCalmaLlama

Some people are being unbelievably unkind, and I think you are responding with great grace.

£120k a year.
Senior management at a biotech company.
I’m based in Scotland but the company is global.
40 years old, no children, not married. I have a lovely boyfriend and we split our time between his flat in a city and my 3 bedroom house in the country. We don’t share finances in any way.

Before Covid, we would usually have a two week summer holiday (usually a mix of something active like water sports/ cycling/ hiking and lounging about), one week skiing and maybe 2 or 3 long European weekends away. Plus a few nights closer to home if we were going to a gig or something in another city.

I feel very lucky that I don’t need to budget too much to afford these holidays or go out to eat or drink with friends most weekends, pay memberships to decent gyms etc.

I don’t worry about money on a day to day basis, like for covering monthly bills. I do think about the future, how long I want to work in a fairly stressful job for and if I’ll have enough money to retire or change my job by the time I feel like I’ve had enough. However, I have in no way over stretched myself with my mortgage and will pay that off by the time I’m 55, I think. I could do it earlier but I also put nearly £1,500 a month into pensions and investments, to strike a bit of a balance and make sure I’ve got a decent pension pot that I can access when I’m 57.

It’s an incredibly fortunate position to be in and although I do work hard, getting to this point was mostly luck and right-time-right-place.

@Bouncer500

This is a strange thread. It is people on 5 or 6 or more times the average salary complaining about how little money they have and seeming to want sympathy from people on 30k who don't understand what it is like to have such large pension contributions (and therefore pensions) and mortgage payments (expensive houses) and school fees (because they can't access private education) .

Nobody is asking you to read or post on the thread if it doesn't concern you.

I was attacked out of a thread that was purportedly just about average annual earnings of individuals, their location etc and told THIS THREAD IS NOT FOR ME because despite what the OP actually asked in her questions, what she meant was that she only wanted to speak to people earning almost exactly the same as her. But neglected to say that.

The OP of this post however, has been very clear in their opening post about who they are canvassing opinions from so if vitriol was given for not understanding who the previous OP deemed acceptable to reply to their thread - despite it being so unclear that multiple posters questioned and could not understand it - then surely when on this thread it is very clear all of those nasty, spiteful people who it does not concern can stay away? Or are they totally oblivious to hypocrisy?

I agree with @bushkin my worries have evolved not gone away. The more you earn and have also means you have more to lose.

I'm not on a salary like most in this thread but I just creep in using the household clause

I'm 50k + bonus (£3-5k) I'm FS compliance
DH 56.5k + 8k car allowance + 15% bonus

Dh car can never be more than 5 years old. We bought the cheapest nearly new car we could find and my car is 10 years old. Not into cars and wouldn't have his new car given the choice.

We are in Scotland and mortgage is 1400pm.

Currently we have no pressing worries and trying to save hard into pensions. We want to start a family soon. I'd like dc to go to private school but not sure if we will be able to afford it. If we have more than 1 child it will be impossible I think.

@SortMyHouse

As you're asking 10 per cent of my salary since I was a cashier at age 16 I take my religion seriously

How much do you give to charity?

Apologies my question wasn't aimed specifically at you OP, I just meant that I hoped that anyone on these kind of salaries would be giving some of their income to help the less fortunate.

I do give a similar percentage of my income (which is somewhat lower, I have to say), yes.

Sorry once again I was not meaning to attack you.

@StarsAreWishes

I’ve not get any worries to share, but just wanted to show some support to *@ChannelTheCalmaLlama*

Some people are being unbelievably unkind, and I think you are responding with great grace.

Thank you. I have come to mumsnet for support for many years. Back when I had no money for my electric meter or food, and now, and sadly it seems whatever your situation there are always some people who will be very nasty. But the ones who are kind always make things better. I appreciate it so much.

00:27ChannelTheCalmaLlama

Don't let these awful people get to you
If they have a problem with the thread they can just ignore it

I started it as it was made clear we couldn't comment on the average earnings one

Fair enough

But we can have our thread

Plus your situation isn't privileged - you have serious issues, you're allowed to talk about them

Even Rishi Sunak must wonder what money problems Bezos has, just as we wonder what Sunak is worrying about - money problems are relative too.

Not everyone has to survive this life, some of us want to live it too.

@Bouncer500

This is a strange thread. It is people on 5 or 6 or more times the average salary complaining about how little money they have and seeming to want sympathy from people on 30k who don't understand what it is like to have such large pension contributions (and therefore pensions) and mortgage payments (expensive houses) and school fees (because they can't access private education) .

Really? I don’t want sympathy from anyone and I know that there are much tougher worries on £30k per annum having been on much less than myself whilst living in London myself, like whether I could afford heating for instance. For me it was just the OP asking what people on £100k worry about because everyone still has worries no matter even if you acknowledge to yourself they are privileged worries to have. You don’t want people to acknowledge them in a post that is titled for that specific purpose?

Came out of NHS pension as couldn't afford it (about £800 monthly contribution).
I pay nearly £50,000 per year in income tax.

@user1455735072 surely at that salary you will be getting 60% tax relief on your pension contributions? So £1K in your pension would be £400 out if your pocket.

@VodselForDinner

What a goady thread.

(And I say that as someone who earns six figures, as does my husband).

Couldn't agree more.

DH earns £120k and I earn £50k but what is the need to create a thread like this? It's tasteless and pointless.

Get a grip, OP.

Why the hell do you care so deeply about others' finances?

Go and concentrate on your own and stop hiding your need to goad behind empty, pointless questions.

Crass and embarrassing. 🙄

Perhaps consider a cheaper mortgage, cheap car (e.g. under 2k second hand), maybe shop at Lidl?

@Bushkin

I don’t worry about money on the way I did 10 years ago- eg will my card be declined, have I got enough fuel to get to work or what if an appliance breaks which is a really lovely feeling. I do worry about the big mortgage, the massive drop if one of us were to lose our job (the expectations) I worry about whether we have the spending vs savings balance right. More existentially I worry about whether it’s all really worth it…

Sure I’ve been absolutely hammered for saying similar on MN previously so awaiting the pile on on this thread too

This. We are theoretically fine (excellent even!) but it could all come undone with a redundancy or unexpected early retirement

Your response on that thread was deleted inappropriate and you were, rightly, called on for it.

Errr no. The only post on that thread that has been deleted as far as I can see was one where the OP made horrific comments including swear words to me. Not one of my posts.