To wonder what it's like to earn £200k per year?!

[ABCD1000]

Friend's husband earns just over £200k per year, with an annual £150k bonus for the last few years! No jealousy (much!) just wonder what life would be like?!

Obviously the OP asked what it would be like earning £200k so your going to get richer people responding??

As a little perspective in five minutes I'll be up. DH is already moving.

How exactly is that perspective? You are assuming that only people who earn big amounts get up early!

Another MN alternative universe thread.
We were in the position most of the high earners describe on here when we were on about £35 joint income! No money worries, savings, nice house, lifestyle and holidays. Definitely were not skint.
Obviously high earning does not always equal good management skills.
Most people on high income that we know in real life aren't hoarding every penny. They've mainly done a mix of invested it, used it to help others, spent a good portion keeping the economy going. Otherwise what is the point of having it?

£35k*

No, Pengggwyn it's not! I find it really bizarre.

Not the fact that people choose to live modestly when they could afford a lot more but the fact that some posts imply that the modest living is evidence that they are not actually richer than people who earn a lot less.

I got a pay rise recently and we put all of it into our mortgage payments. Therefore we don't have that cash to spend anymore because we have already spent it. On something that benefits us and that we are lucky to be able to do (including the fact of having a mortgage in the first place). We aren't not better off because we have chosen to spend that money on an investment in a property rather than a holiday or shopping in Waitrose.

But again Beachcomber, people aren't saying that. The question was "what is it like?" and for some the answer is "no different because I still live with my black and white TV " I don't think anyone is then going on to say "and therefore I am no richer than I was when I earned NMW."

I earn the national minimum wage, I can only dream of ever earning anywhere close to that.

It must be great and I admire the posters who earn that amount and say it is great, I like people being honest and not giving us skinto's all the "your health is your wealth" bullshit

of course being healthy is everyone's priority, that goes without saying, but having loads of money must just be great.

Is it churlish of me to find all these people telling us how they earn hundreds of thousands of pounds a year but watch a black and white TV and drive a milk float really annoying?

agree 100%

just be honest, its great and if you aren't acknowledging this you need to look at yourself.

I think what this thread does show us is that you adapt to what you have very quickly and it can be easy to forget to appreciate it. I suspect most with high household incomes didn't grow up in such households and so have experienced different ways of living and different levels of income. It can be easy to focus on what you don't have rather than what you do have, particularly in today's society. Comparison being the thief of joy and all that.

There is apparently some level of income - what exactly it is varies depending on where you are in the world - after which any increase doesn't directly increase happiness. But there is a correlation under and up to that amount. That says to me that low income is a stressor in itself, and my experience plus some on this thread would attest to that.

NewtsSuitcase, anyone saying that earning 200k isn't different to earning 30k because they have the same television as someone on 30k is making themselves sound both deluded and not very bright. Makes you wonder how they manage to hold down such well paid jobs to be frank.

Have NCed for obvious reasons. I earn around £40k pcm gross as my base salary. I get around that amount again (£40k pcm) as my bonus once a year, and then some equity distributions on top. DH earns about the same. So we earn around £2m gross household income per year and pay around £1m of that in income tax.

I feel very lucky that we basically do not have to think about any financial decision at all, other than our (central London) house. We have a large (£1.5m) mortgage but other than that we are free to do as we please. We don't own a car and we have recently upgraded our CRT tv to a 40 inch LG so not particularly fancy - we're not that interested in that stuff. Nor do we go on hugely expensive holidays or buy lots of designer clothes. But if we want something we buy it, and I love that. The rest goes in the bank/investments so it's there when we or our children need it. I also give around £50k per year to various charities - mostly those addressing homelessness and deprivation. I feel very content with my lot. We work very hard but doesn't everyone?!

Daisyraine
As a new driver my insurance is close to £100 a month we can just about afford that, can't afford to add an extra payment for finance too. My car was £500!

Don’t believe everything you read on here. Like a pp said there’s at least one person contradicting themselves - and if there’s one then there’s others.

Yes there’s high earners of course but personally I’d take most of what’s spouted on here with a pinch of salt.

Off now - got to give orders to the day staff 😉

My goodness me NC200000 I couldn't ever imagine having that much money, what kind of work do you do for that kind of money if you don't mind me asking? It must be lively to be able to put so much money away for your children's future. I find it really hard to imagine people's lives with that kind of income when I'm completely the other end of the spectrum and have to but my toddler an extra jumper on rather than putting the heating on because we're that skint. If I ever had that kind of money I don't think I'd spend much more than I do now because I'm so used to stretching stuff I don't think I could allow myself too haha.

Being poor is very very stressful. Far more than any of the work stressors DH and I have.

Whenever I go back to my home town I'm struck by how much poverty shows on people's faces. Not just poor diet, life style etc but sheer worry. Especially the women. Always the women .

I made a firm commitment to myself as a kid that I would follow the money and I have. In DH I met a soul mate. Together we've taken a lot of decisions and done a lot of things that other people wouldn't ( not complaining - our actions were always a calculated risk).

Unlike a lot of posters we don't live frugally. Far from it.

But TBF we're almost 50 and have been earning a lot of cash since our early twenties. I bought my first property in central London in the early nineties on my salary alone on a 100% mortgage.

I am a CEO and my husband is an accountant (Big4 senior partner) cookies

I find it utterly ridiculous how much money we have - more than we could ever possibly need. I didn't grow up with this much! If we didn't have children I'd be giving much more of the surplus away but we feel we should hang onto it in case we need it for them.

The most unbelievable thing of all is that we are not even close to being "rich" in our neighbourhood though - the fact of the matter is that all of the truly rich in this country have inherited their money or are living off capital. Earning income by working in a job can only get you so far.

I always find the reverse Fucky I'm surprised at how many people do actually have enormous joint incomes. I don't think people are exaggerating, particular those who live in London and work in the city.

bertie apparently it's around £60-70k. I would personally say that my happiness topped out at about £130k - above that it's all nice to haves. Not that they're not very nice!

There's no doubt that being poor is a massive stressor. Massive side eye to anyone who pretends otherwise.

My goodness I genuinely can't even imagine it.

Living in London the salaries don’t surprise me - friends have a big range

But I hardly know anyone who is as frugal as on here with spending (when earning well). Seems to be more

I know this will sound absolutely ridiculous, so I have NC, but DH says our family needs £350 k minimum a year to cover our outgoings -

4 DC in independent school = £90 k per year after tax - so he needs to earn £180 k for that.
Our mortage is not massive £500 k on a Central London house.
We tend to eat out a lot and then there are the kids' activities, etc.
I am not one of these who goes shopping all the time by any means, but tend to buy a few more expensive items when it comes to clothes or make-up, rather than loads of stuff I never wear. Same for the DC.
We go away long-haul in the summer and maybe one or two other short breaks per year.
DH has 3 cars in storage and some expensive hobbies.
He takes money out of his companies rather than a salary as such. He sold a company some years ago, from which he received over £30 million, but this is invested rather than available.

as a little perspective in five minutes I'll be up. DH is already moving

As a little perspective, I used to get up at five in the morning to earn £3.50 per hour.

DH says our family needs £350 k minimum a year to cover our outgoings

because you've chosen to have those outgoings. You don't need any of it it, you just want it.

It's such a stupid argument: oh its not that much money because it all goes on our lifestyle. What, a massive amount of money becomes less money because you've chosen to spend it all? Jog on.