Is this wealth or comfortable?

[Tuue]

Absolutely not me, sadly, as I’m neither wealthy nor comfortable!! I’d like to be…

is this simply comfortable or wealthy? Where is the line?

three buy to let’s, circa 500k equity across them
mortgagr free home of 600k
yearly income from investments of 25k post tax (out of a 500k fund, at present)

interested as this came up recently and I was very surprised at the different views in my close friend group! I feel even poorer these days !

Wealthy

Sorry. Posted too soon

Wealthy assets. Comfortable cash.

Also depends if it supporting a family of 10 or one single person!

Comfortable. I’d like to know where they’re getting a post-tax income of £25k out of a 500k pot though!

Well do they work too or is that the only income - from the rentals?

Is there mortgages to pay on the buy to let's? If so the income from them is reduced and £25k money from investment is a basic salary. Fine if you're 76 and alone, different of you're 28 with four kids.

So could be comfortable, could be wealthy

It depends on how much the properties are bringing in.

Yes it does.

How much are they making from the buy to lets op? Income overall is what really matters. £25,000 income isn't even that comfortable.

To me that would be comfortable / affluent. Wealth to me is having enough cash flow being able to buy pretty much whatever you want when you want it and not having to worry about the money running out.

nah that’s loose change to me

as an aside, why is mumsnet so absolutely obsessed with wealth? If it isn’t threads like this it’s threads on class.

Asset rich cash poor.

To me that is wealth because its actual wealth/assets. Over a million of equity and investments on top currently provinding an income

Most people are 3 payslips away from disaster.

I don’t know the ins and outs of the rentals except one has income of 1400 a month and a 100 a month on the mortgage.

And neither of the two work

Comfortable but overall a £25k income isn’t huge, and all the assets are tied up so I don’t see that as wealthy because it’s not easily accessible.

I wouldn’t even call that comfortable.

Oh, so it’s £25k income for two people? That’s not loads at all tbh.

There’s other income streams such but per month after tax around 3500

Which goes to show - I'd say 25k post tax no mortgage was comfortable

Wealthy / depends if the property is the pension

I read that comfortable is when you have staff 2 days a week (cleaner, gardener, whatever).
Wealthy is when you give the staff 2 days off a week!

I’d catégorisé more as asset rich, cash poor. Unless the BTLs generate a similar income, in which case I’d say comfortable I think, but not rich.

No neither would I. Two people living on 25 grand a year is very low, much lower than if they both earned min wage.

Loaded

Same here 👀

So not £25k annual income then?

£3500 is £42k annually, but even so between a couple I don’t think that’s wealthy - even if the mortgage is paid there’s still bills to pay on a house, it’s not like that’s all money that can be spent however they like.

They are doing ok, but definitely not wealthy.

Are all the assets tied up. i read 500k investments on top of the hard to liquidate property.