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AIBU?

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Original poster

£85k per year

207 replies

pondfresh · 19/12/2018 21:28

In the course of a conversation with my cousin, she disclosed that she earns £85k per year but said she does not consider herself especially well off. She lives in the south east but not London, has young dc. She said she has no problem paying bills etc and they have a family holiday each year but she does not consider that they are wealthy. He earns less than this as he is a teacher. AIBU to wonder how well off someone is actually is on £85k and what would be classed as wealthy.

OP posts:
stopgap · 19/12/2018 21:57

ginormous because nobody talks about this in real life. I think most Brits would prefer to discuss bowel movements over income.

Youmadorwhat · 19/12/2018 21:57

You are aware that at 85k she will be taxed at 40% so that 51k not including any student loan repayments and pensions contributions. So she probably takes home 48ish??? It’s not what you think at all!!

Believeitornot · 19/12/2018 21:59

Me and DH had similar salaries.

We didn’t feel well off but on reflection, that’s because we pissed our money away every month on frivolous spending!!

silvercuckoo · 19/12/2018 21:59

£85K is really two sets of (unsubsidised) full time nursery fees and a (full market) rent for a two bed. Hardly wealthy.

Poloshot · 19/12/2018 22:00

Comfortable but not particularly well off I'd say, particularly in the SE

3WildOnes · 19/12/2018 22:00

geekone if you are left with no money at the end of the month and you earn over 120k between you then it sounds like you are bad at budgeting. I live in London and earn much less than that but it’s similar to what my husband earns. I feel well off. We eat out, go on mini breaks to Europe, two family holidays a year and we have savings.

Ta1kinpeace · 19/12/2018 22:01

You are aware that at 85k she will be taxed at 40% so that 51k not including any student loan repayments and pensions contributions. So she probably takes home 48ish???
Um no
The first £11500 is not taxed
the next £36000 is taxed at 20%
only the top slice is taxed at 40%

and as only 36% of people earn enough to pay 40% tax
they are rich
because they earn more in a day than the bulk of the country earns in a week

Believeitornot · 19/12/2018 22:02

You are aware that at 85k she will be taxed at 40%

Only 40% on the amount above £46k. When you earn over £46k, you don’t lose 40% of all of your salary in tax 🙄🙄🙄 I wish people understood tax properly.

Anyway it’s irrelevant - that salary is massive and higher than most people in the UK.

SparklyLeprechaun · 19/12/2018 22:02

A lot of deluded people on this thread. The average salary in London is circa 37k. 84k is more than double this

So what? Actually it's just under double the average salary in net pay, but it makes no difference, it's still not wealthy. Wealth has nothing to do with what other people earn.

CantChoose · 19/12/2018 22:03

It's all semantics really. I earn a bit less than her, my husband a bit more. So total household income probably more. We are also south east but not london.
I wouldn't consider ourselves 'wealthy' as to me that's first class flights and polo ponies etc.
I would say we are 'well off' certainly and I'm well aware we have a lot more money than an average household. We have quite high outgoings so it doesn't always feel as comfortable as it should with our incomes but obviously that's our choice.

WanderingTrolley1 · 19/12/2018 22:03

Not wealthy.

Ta1kinpeace · 19/12/2018 22:03

Actually it's just under double the average salary in net pay
but its nearly four times the median pay .....
you know, the one that half the people earn

Ta1kinpeace · 19/12/2018 22:04

Those who say £84 k for a non Londoner is not wealthy
where DO you draw the line?

Cherries101 · 19/12/2018 22:06

@SparklyLeprechaun - it’s very wealthy. I was on 50k in London and still managed to save 50% of my income after bills. Public ransport in London is the cheapest in the country. Rents in the London boroughs are similar to the Midlands. Food is cheap compared to other parts of the country. If you don’t feel wealthy on 84k you are clearly in need of money management lessons.

Hobbies22 · 19/12/2018 22:07

This reply has been deleted

Post not on topic Talk Guidelines.

StealthPolarBear · 19/12/2018 22:07

Came on to say the same as others, if uou go up a tax band it doesn't apply to your whole salary!

AutoFilled · 19/12/2018 22:07

It’s not wealthy, just well off. You are only wealthy if you have assets that generate enough income that you can live well from that. It’s the difference between the wage slaves and the wealthy. £85k isn’t much after private school fees, a decent house, a couple of holidays, etc. You will still worry about losing your job.

WanderingTrolley1 · 19/12/2018 22:08

DP earns 50% more, we’re in the midlands and I don’t feel we’re wealthy.

Ta1kinpeace · 19/12/2018 22:10

£85k isn’t much after private school fees, a decent house, a couple of holidays, etc.
All of which are utter luxuries that most of the country does without
therefore those who have that ARE wealthy

SailAwayWithMeHuni · 19/12/2018 22:10

@Hobbies52 just wanted to let you know you’ve put your post in the wrong place lovely.

silvercuckoo · 19/12/2018 22:10

where DO you draw the line?
For me it is simple. If you have to work for money, you are not wealthy. No matter how much you earn.
Salaries like that for mothers of small children often come with long hours and completely ridiculous childcare costs.

nicoala1 · 19/12/2018 22:10

Wealth = lots of disposable income to spend on anything you want.

AutoFilled · 19/12/2018 22:10

This is wealthy www.telegraph.co.uk/news/2018/10/10/woman-spent-16-million-harrods-revealed-wife-jailed-banker/

Spending £16 million in Harrods over 10 years

SailAwayWithMeHuni · 19/12/2018 22:11

@Hobbies22 see above post!

Youmadorwhat · 19/12/2018 22:11

@Ta1kinpeace Jesus sorry I’m not a tax expert for the U.K. I’m in Ireland now and it works differently here anyway. But yes I forgot about it being tiered in U.K. 🤣🤣