Apparently I'm a millionaire

[Flatheads]

Which goes to show its nothing special anymore?

I live in the SE, in house I bought 20 years ago, have been employed all my life, but in fairly ordinary lower/middle management jobs and have the pension schemes that go along side them, plus some savings.

My current household income is c. £45k, which I live very comfortably on, but definitely not "like a millionaire"

And yet apparently I am, as my net assets are £1m+

She said she has assets worth £10 million. That doesn’t mean she has 10 million of equity in that.

House size see above.

I agree it's special too.

My house is worth £800k, pension and savings combined are worth about £1.5m. My only downside is that my income isn't great which has been deliberate choice as since my divorce I've had a few mental health issues.

Because of the income issue, I can't spend like a broken tap but I can afford life comfortably. If I had less, there's no way I'd be able to afford the luxury of part-time work.

As a renter, I do personally think being an asset millionaire is special.
I'm genuinely not bitter. After all, we can't take any material wealth with us when we go. But, I do think Mumsnet isn't representative. Disproportionate number of London and southeast dwellers, as well as a disproportionate number of professionals. In the real world, many are living pay cheque to pay cheque, in rubbish rented accommodation.
I'm sure you've worked hard for it OP. But, please don't underestimate your privilege.

I agree. @ProgressivePilgrim I think a lot of Mumsnet don't really understand a world outside of two decent salaries and a house deposit from the bank of mum and dad.

I agree with most of it except the private jets. They do take private jets for holidays although they maybe don’t brag about it.

@MaggieBsBoat

a combined salary of 236k

What!!!!!! We have £50,000 to get by on (I can't work).

First time I’ve heard someone referring to a 5 bedroom Victorian townhouse as small. 🙄

I agree with this. Owning a normal family home in or near an expensive city is a feat in itself these days, but it doesn’t put someone into the Daddy Warbucks category, especially if (like us) you bought before prices went haywire. We count ourselves lucky to have bought when we did, but we definitely aren’t in that mythical category of ‘rich people who can buy whatever they want, whenever they want’ because, well, a million or two in illiquid assets doesn’t do much for everyday cash flow.

Who said you're skint?!

I read "asset", not "net asset", a world of difference there.

My DH.

I‘ve lived in a high rise council flat as a single teen mum, no carpets or a fridge, income support of £70 a week. I’ve been homeless also
After many years of definite, grinding hardship, I feel bloody rich just not worrying about how long I can make a bag of potatoes last. I know my privilege.

Yup and then they post on MN about moving north.

Thank you for this. I think that's the thing - nothing wrong at all with enjoying the fruits of your Labour. I have complete respect for people who've worked hard and now enjoy a comfortable lifestyle. But, it does upset me when people deny their privilege. I guess we all do to some extent in the west, as we're all rich by global standards.
But, I know some very well off people who think they're poor. A lady I know owns a massive 3-storey, 4 bed house for just herself and one cat. Bought for her by her separated husband. No mortgage. She's always saying she's poor. Drives me nuts. Like you, I've been homeless and vulnerably housed. I've also done voluntary work with homeless people with multiple health challenges. Anyone who owns a £500 k house is not remotely poor, even if they have a lowish income. Though her income is far from poverty levels. She's no idea how privileged she is!

Depends on the square footage doesn’t. A small terraced house in Fulham vs a large detached house in Cobham.

Yes I know someone in a five bed house, no mortgage, decent pension, chooses to work part time, constantly bangs on about how "poor" she is and deprives her children of fairly normal things (they have never even had a simple birthday party, or a holiday)

You are in the top 2.5% of property owners.

The same. My house ( still mortgaged) and my pension which I can't touch, add up to the magic 7 figure number.

I'm lucky, I accept that. After 40 years working, my future is more secure than many. I just wish I wasn't still peering at the price of lamb and rejecting it as too expensive.

Oh gosh, that would drive me nuts listening to that. It probably does drive you nuts. Her poor kids.

Why do you feel entitled to live close to where you grew up?

If I'd stayed in the area where I grew up, I'd still be earning fuck all and wouldn't have got on the property ladder.

In inner London 2 million buys you a smallish 4-5 bed with a small garden.

Inner London isn’t just Fulham though

Why do you feel entitled to live close to where you grew up?

I don’t think that’s a wild concept, it’s quite common for people to want to stay in their communities.

Well you need to instantly hand it over - don’t worry Mr Starmer is working on it once he’s finished going to the football, Taylor swift concerts and clothes shopping. How dare you work hard, get the right qualifications and get a job that’s allowed you to achieve buying a house. And then paid your mortgage for 20 plus years. It’s luck and nothing else. You do not deserve it and you need to be taxed again and again until you can’t afford it. Then that money can be handed down to the more deserving. Levelling down - it’s only fair

I think it's normal to want to, but I doubt poor Tarquin would get much sympathy if he said he felt it was unfair that he wanted to live in Knightsbridge but couldn't afford to.

Why is this any different?

No indeed some of it is Kensington, Mayfair, Belgravia…

Or parts of Tower Hamlets, Lewisham, Lambeth….