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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask if you are rich, and if so how you made your money?!

401 replies

jinglebelly · 01/05/2011 20:05

I run a small ebay business but after DC 3 starts school I'd either like to retrain/get a degree or start up a larger business... I don't know any very well off people hence why I'm asking on mumsnet!

OP posts:
SybilBeddows · 02/05/2011 18:45

I always think it is hilarious when people with income in, say, the top 5% say they're not rich, just 'comfortable'.

I think 'comfortable' would mean anything above average, unless you have unusually big expenses - I mean obviously it varies according to circumstance but I wonder why people are so reluctant to admit to wealth.

Toughasoldboots · 02/05/2011 18:50

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Absolutelyfabulous · 02/05/2011 18:50

Rich is not having to crawl under the kitchen table to wipe up crumbs but employing a housekeeper to do it!

So I ain't rich!

That said, when we started out and were poor we could usually lay our hands on £60 in cash straight off. After a few years it was £600 and then £6000. Now we can lay our hands on £60 000 cash with a bit of money moving. But I still think that means we are comfortably well off rather than rich.

hairfullofsnakes · 02/05/2011 18:50

Read 'rich dad, poor dad' it has some
Very thought provoking ideas in it!

Rich people work very hard, spend little and sacrifice a lot of their time to whatever it is they do to become rich

Prunnhilda · 02/05/2011 18:51

But that's the point toughasoldboots, nurses can work as hard as they want but there are limits to what they can make because of the structure of the industry they're in. Why the sarcasm?

soverylucky · 02/05/2011 18:53

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Absolutelyfabulous · 02/05/2011 18:53

Bang on, hairfull. The only people I know who would even consider working the way DH does are also well off. I drive a ten year old car, BTW. Wouldn't dream of getting a loan for my car which is a work horse. Kids dressed in Asda and Next. Food from Asda.

Toughasoldboots · 02/05/2011 18:55

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HalleluiaScot · 02/05/2011 18:55

We earn enough to bring up our five children without recourse to public funds, and to educate them privately. We have a large house in a modest area, and have value holidays (one a year).

We have achieved this by achieving degrees in useful subjects and working hard for our employers.

Absolutelyfabulous · 02/05/2011 18:55

My toxic SIL earns tuppence h'apenny but is the worst kind of snob only shopping in Waitrose and wearing designer tat clothes. Then she wonders why she hasn't a penny.

MarshaBrady · 02/05/2011 18:58

I admit in my 20s money was one of the last of my priorities. I wanted really tough challenges, freedom, exciting stuff, doing things that beat the odds. And I did study something very solid and did well at it. I have no idea where my desire to be free from the City type environment came from. Luckily we are ok, live in London, can afford good schools etc.

But I do find it odd how I have done a complete turn around on issues surrounding £. Having a family has done this to me I suppose.

noddyholder · 02/05/2011 19:07

Blimey beesimo I have done all of those and am doing ok Although i do agree confidence is all!

jafina · 02/05/2011 19:10

I know quite a few "rich" people. Most of them work hard, are very bright and received good degrees. They have also been extremely lucky to be in the right place at the right time (banking, late 90s onward). They also saved much of what they earned and didn't snort it up their nose or spend it all on cars.

A big however, I also know lots of average income people who work hard, are very bright and received good degrees. They didn't go into banking and instead chose academia, nursing, the police and civil service to name a few. Lots of them aren't too bothered about how rich they are as long as they are comfortable.

I think if you are willing to work very hard and you get lucky then you might get rich, but best to find something you enjoy doing so at least you will have fun even if the money doesn't flow in!

Absolutelyfabulous · 02/05/2011 19:15

I think you have to be driven to want to be rich.
DH was dragged brought up in poverty and it absolutely defines and drives him. His biggest desire in life was to not have his children live the life he had.

Prunnhilda · 02/05/2011 19:27

Toughasoldboots, are you Nailpolish? I have had exactly the same discussion with exactly the same tone with her several (too many) times.
Of course it is other factors: for starters, not choosing a career where there is such a relatively low limit on what you can earn.

Spudulika · 02/05/2011 19:28

Those of you who privately educate your children, live in large houses and go on expensive holidays - have you been able to do all this with no inherited money at all? And no help to get on the property ladder from parents or relatives?

I did a degree in a useful subject (teaching) as did DH (IT and chemistry). We both work very hard. DH is an IT manager in a very high profile company and does long hours at work. He hardly sees the children during the week. I do fewer hours because I have a child with ASD who needs me around too much for me to do a full-time role.

We have a reasonable income but couldn't afford private education and haven't had a holiday abroad since we've had dc's 2 and 3.

Spudulika · 02/05/2011 19:30

"The only people I know who would even consider working the way DH does are also well off"

What sort of hours does your husband put in?

Does he get to see much of the children?

indulged · 02/05/2011 19:30

I wont be rich on what I have. I worked hard at school, got a couple of degrees, a few postgrad quals including 2 masters and now am in a salaried job. Its a regular academia job, no bonus', no overtime pay, no thanks for working all the hours god sends even though I am paid for a finite amount.
For me its all down to career choice. My career and profession just isnt one of those that has the capacity for wealth accumulation.

Toughasoldboots · 02/05/2011 19:31

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Serenitysutton · 02/05/2011 19:33

Surely anyone in teaching or nursing realises it will never make them rich? Some of you sound most surprised you haven't managed it

Spudulika · 02/05/2011 19:33

"I don't think that anyone would deny that nurses work hard. However, I would say that if they had started working hard back in primary/secondary school, they would have gone on instead to medical school an, whilst also working just as hard, be making more money."

Nearly a third of all medical and dentistry students attended private school.

Almost all the others come from professional families.

It's extremely unusual in the UK for children who've been educated in non-selective state schools to go on to do a degree in medicine or dentistry.

Prunnhilda · 02/05/2011 19:35

Yes toughasoldboots, by saying that everyone tends to work quite hard but the choice of job dictates the pay Confused
Whatever!

Toughasoldboots · 02/05/2011 19:38

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Prunnhilda · 02/05/2011 19:39

Well that wasn't me, however I have had that exact same experience, so let me annoy you all over again.

indulged · 02/05/2011 19:40

My BIL is a solicitor and "works hard" as described above. Long days, evenings etc. Thing is, he spends quite a bit of that time travelling, lunching, runs and swims an hour in the day and reading.