To think that 60k is a lot of money to earn a year?!

[MinkSlink]

I think it is a lot of money to earn per year but it seems a lot of people on mumsnet don't think so, am I in the piss poor minority here or what?!

60k is a lot, but I don't think it's a huge salary or makes a person rich. When I left school (pre-degree etc), I worked in payroll at a firm of accountants, and the normal accountants were on 75k or more, and this was 10 years ago. Partners were on double that.

I don't earn anywhere close to 60k, and neither does my husband, and we feel well off, so I don't know what I'd do with all that extra, but I'm sure if I earned it I'd spend it!

Take home is still shit because you get taxed to the back teeth on it.

I always am a bit bemused at the notion from some posters on here that £60k isnt "enough" to live on.

But I guess if I had that income, after a while I probably would think it wasnt enough.

At the minute, just one monthly pay packet of someone on that money would make me feel dirty rich. And would iradicate our problems.

I do hope sincerly that if I ever did have that income I would remember the feeling of what we are going through right now, having £19 to last three people until tuesday and spend my money wisely.

Sorry, meant to say, "rent a scabby 1 bed on your own".

Any less than that and you'll be living with flatmates. I know people aged 35 still living in shared houses earning £50k a year as hospital registrars.

£60k puts you in the top 10%

YANBU

My DH earns £40k. We are no better off now than we were when he earned a lot less!

His take home pay hasn't really changed much over the years because his student loan repayments, tax, NI and pension contributions have increased in line with his pay increases.

I'd love to think of him earning £60k, but I suspect we still wouldn't be much better off than we are now!

"you get taxed to the back teeth".

£60k is about £3500 a month post tax.

Ain't too bad.

60k would be lovely here.

If you had 120k debts however and depending on where you lived it wouldn't be as easy so it's relative I suppose.

I think the people who earn £60,000 and are unaware that this puts them in the top very small percentage of earners ... I'm not sure what it is at the moment, perhaps top 15% in the UK? ... are arseholes. So, yes, they should acknowledge that they earn a lot and be grateful for that.

However, whether £60,000 gross is enough to sustain a family in London or the south east where the rent/mortgage might easily be over £1500 per calendar month is a different question.

But, seriously, I've seen posters on Mumsnet trying to argue with a straight face that they are not well off on £200,000 pa.

The more you earn the bigger the bills I think! So i don't know if you would feel rich earning 60k.

It is undoubtedly a good salary, though how rich you would feel on that wage would depend on outgoings, debts (especially how much student debt you took out to get that wage) and where you live/housing costs/when you bought your house etc.

We take home a bit less than that and we can't get a mortgage. Someone please tell us where we are going wrong. We have no debt. The bank wants at least 30% before they will even consider us.

Monthly take home on that is £3,465.09

Mortgage on a 3 bedroom house in the south east - £1265.09 a month, 2 DCs in full time private nursery - £60 a day x2 x20 days = £2400

Money all spent before food, bills, council tax etc

So its not always a lot of money

Take a look on where you are on the GLOBAL rich list ( www.globalrichlist.com )- it is a sobering thought - one of the facts on there that really grabs you is

"The world's 225 richest people now have a combined wealth of $1 trillion. That's equal to the combined annual income of the world's 2.5 billion poorest people"

What bank beetroot? Have you been to a mortgage broker instead?

Yanbu.

The most I ever earned was £22k.

It is around £3400 a month. Which is an awful lot, but if you have a mortgage of £1K or more, travel costs of £300 per month, credit cards/loans, childcare, bills etc it does not necessarily mean you are rolling in it.

I will add, my full time salary is £65k (I work part time now). I have two DCs, a big mortgage and live in London etc. it is a lot of money and I'm
Bloody grateful for earning what I do. My DH also has a job where he earns not quite as much but still good.

If I start trying to keep up with my neighbours however, then I feel "poor". So I don't and get a reality check regularly.

Yes, it is a lot of money, but balance it against, for example, my £2,500 a month nursery bill and £1,500 a month mortgage for an average (1,800 sq ft) 4 bed semi detached house in SE London.

MrsWinkyParadiso
I took op to mean that £60,000 is a lot for one person to earn in a year. So unless that breadwinner is a lone parent then presumably there wouldn't be a need for full-time nursery places.

I think it is a lot

there are IMO tooo many people on mn who are obsessed with what other people earn.

How about people live their own lives and leave others to live theirs.

edwinbear - are you a one or two income household?

Hi Iggly, yes we have. The least any will take is £20,000 deposit. TBH I am ready just for sacking the idea of buying and continue to rent instead.

Mintyy the second parent's earnings are presumably less than that, and cover food, council tax, gas, electricity, running a car, most likely commuting costs into London (maybe x2) - that all adds up to a shit load so it still doesn't exactly leave a lot to play with. So while its a lot of money for someone with a small mortgage, kids in state school & a SAHP to do the after school, its not always a lot of money, as I said.