£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

01:21MissConductUS

It's a saturated market

If he's with PWC he'll specialise in something so that's good

@rocky1914

You know what? Don't answer that.

I'm tired and refuse to waste my time on this ridiculous thread.

Hope you get the answers that you're looking for from a Londoner earning more than £100k and not an estate agent or mortgage advisor earning £30k or less.

Goodnight. 🙄

Oh Jesus full of yourself much? A trainee accountant straight out of uni who has never done any accounting before will be on £30k+ in London. That has bugger all to do with anything on this thread. They may well fail their exams... and they certainly don't earn £100k. 😂

@Changemaname1

Am not sure it’s a crass thread , I earn less than the national all average and am a single parent but I live in a low cost area , very small mortgage , no childcare costs and no debt I bet if I lived in London’s and earned around 100k I’d be far worse off than I am now after higher tax , higher living costs etc 🤷🏻‍♀️

Exactly. I don't understand why so few people understand this. 🤣 Perhaps you should work in finance?

@Changemaname1

Am not sure it’s a crass thread , I earn less than the national all average and am a single parent but I live in a low cost area , very small mortgage , no childcare costs and no debt I bet if I lived in London’s and earned around 100k I’d be far worse off than I am now after higher tax , higher living costs etc 🤷🏻‍♀️

And was said on the other thread, you therefore have no reason to be on this thread or commenting on it.

@ChannelTheCalmaLlama ........are you feeling okay because what in the name of Jesus and his 12 disciples are you even talking about? 🤣🤣😩

Lovie, it's late. Please go to bed.

Everyone else? Stop mentioning me. I would like to go to sleep now.

It's been much fun conversing with you all and I know you hate to see me leave, but don't worry, you'll build a bridge and get over it.

So goodnight ...for the final bloody time. 😒

👋

@blueshoes

ChannelTheCalmaLlama and Sortmyhouse, you have my support.

£100,000 in London does not go far if you did not buy a home long ago and if you are considering private school fees or have pre-school childcare costs. Been there, got the T-shirt.

Keep at it, and you will come out on the other side.

No private school fees here, just nursery costs and mortgage, trying to keep a roof over our heads and look after my children with nobody else to step in. While I have two serious disabilities. People being facetious have no idea. I am amazed how unkind people have been. Mumsnet was set up for support. Thank you to the poster, including @SortMyHouse who started the thread, who have been so kind.

@SortMyHouse

Lol an estate agent can tell me about properly prices

Mortgage about mortgage advisors

Only households on £100k plus in London can tell me about their lifestyles, their realties

You really are grasping at straws
Throw all the professions at me but if they don't meet the title criteria I'm not interested, however they are free to comment

I think you are just wonderful, and you've made a shit night of me being bashed into a great one. I am so grateful. You are a reallt good person @SortMyHouse.

@SortMyHouse, he interned in their tax department and quite liked it, so that's where he will be working. It's not a saturated market here, there's a shortage of accounting graduates. His offer was originally $62k and they recently informed him that they were increasing it to make sure it was still competitive.

[quote rocky1914]@ChannelTheCalmaLlama ........are you feeling okay because what in the name of Jesus and his 12 disciples are you even talking about? 🤣🤣😩

Lovie, it's late. Please go to bed.

Everyone else? Stop mentioning me. I would like to go to sleep now.

It's been much fun conversing with you all and I know you hate to see me leave, but don't worry, you'll build a bridge and get over it.

So goodnight ...for the final bloody time. 😒

👋 [/quote]
Ok then.... 🤣🤣🤣🤣

Don't forget to shut the door.

I promise you there will be no tears. At all.

Have a look at the Facebook group six figure finances. Might be a more suitable group where people support each other

01:36MissConductUS

What I meant was if you're part of the big 4 or even big 6 that's like the golden path

However, if you're like me, former poly tech uni, studying whilst working in industry those jobs are bog standard, so you have to carve a niche to earn big money, my niche is now implementation of finance systems, so moved away from hard and fast accountancy - good luck to your son.

£250-300k household income, all DH, who is an accountant. I haven’t worked for nearly ten years due to chronic illness. It’s not how we would have planned it out, we earned around the same when we met but that’s how the cookie crumbles.

We live in rural Scotland. The house we live in is less than DH’s annual salary. We also have a flat in Edinburgh in case DH had to relocate back there at some point, by the pandemic has put paid to that as a possibility, he can remote work from anywhere now.

No kids. Pension, savings and house equity all ticking on nicely.

Main concerns work/financial arena are around things like working hours, job role and retirement age.

Which all sounds very first worldish but really the main concern is how long I have to live. My chronic health condition may or may not lead to another condition which could mean I die fairly young. So it’s about whether DH will be able to retire or semi-retire in time we can spend some time together, or whether he’d be better finding something less demanding now and we can spend more time together in a more gradual way.

It’s not clear cut so it’s difficult to make a decision. I’ll have been ill for a decade later this year and the approach of that anniversary is making me think less in terms of following the research and hoping for breakthroughs/cure and more about optimising my life as it is.

We’re early/mid forties so there’s not enough money for DH to step back yet.

01:45SortMyHouse

I meant your son is on a golden path, hope it keeps shining.

01:40Lauraa701:40Lauraa7

Thanks for the info, I'll have to reactivate Facebook, but it looks like Mumsnet isn't the right demographic after all

01:47ImmediatelyNo

All the money in the world can't equate good health. I'm very sorry that your life is coming to a premature end. I wish you comfort through your journey and hope God gives your family the time they need to spend with you.

Thank you @SortMyHouse

It’s not definite my life will come to premature end, but it could be a significantly increased possibility. Need to have a plan in place by the time I’m fifty I think.

We are lucky to be able to try to work round it though, not everyone has enough money to even think about some of those choices .

Curious.
What do you spend it on to run out?
Is it that we all want a few percent more than we have now so we can just...(insert spending here)

Is it that you look at people who have a little more or made different choices and want the same? Or look at what they have and not look at what they have given up to have that?

Wondering if there are hidden costs of working, other than the obvious childcare and commuting? Eg buying more expensive convenience foods?

(Not in London so not a clue on prices)

It also may help the op to work out what is doable and realistic.

02:01ImmediatelyNo

So sorry, I am tired and got a bit emotional and misread.

@SortMyHouse, I understood what you meant re the golden path. Thanks for your good wishes for my son. I certainly don't have a problem with your post.

My husband has an MBA in finance and spent a few years working for the consulting part of PWC, implementing financial systems. He still goes on about chart of accounts design, given the chance. 😁 I think our son got his interest in finance from him.

immediately...

Hoping life is better than you fear. Got a scare recently when having biopsies for things that could be serious or require an op but turned out to not need further treatment...appreciating not having life limiting illness (my disabilities don't shorten life)

Lol ... Chart of accounts design is so crucial!!
Databases, analysis, BI tools - I love it!

Just need to master the AI, which is where it is heading.

Living in London. Having to have a car/cars that conform to LEZ. Repairs and maintenance to a Victorian property. Heating a drafty Victorian property. Three kids , one goes to private school ( because of violent bullying at her state school ). Car insurance on 19yr old. Her University fees.

There is very little left at the end of the month.

It doesn’t go as far as you think once children factored in especially as you won’t get child benefit or help with childcare until you hit the 15 hours. That is quite a substantial cost difference that people forget about.

Eg with 2 children (one in nursery before free hours one in school) our childcare bill is around £18k a year for 4 days nursery, wrap around and holiday clubs. Central London would be higher costs.

Because one of us is a high earner we lose the £1800 in child benefit and don’t get access to the £4k of tax free childcare we might have otherwise been eligible for. That’s not an insignificant cost out of income.

Money buys choices but we still worry/ mainly about job security as the high earning post won’t last forever. We’ve prioritised pension and building up a saving point to help pay the mortgage but very aware things could turn quite easily. Outwardly you wouldn’t see a particularly lavish lifestyle, no big holidays etc. we also want to save for private schooling in the future once nursery fees are over.

(Not in London so not a clue on prices)

Could have shortened your post to just this. ^