To ask what people consider rich....

[Imoen]

I'm possibly going to be flamed but Im genuinely curious. I keep reading on thread about its ok for the "rich" or the rich are getting richer etc....

I've also had several conversations with friends/family and often the throw away comment is "its ok for you, you're rich".

Thing is, I don't think we are. To me rich is not having to worry about working again.

WE both have very very good salaries which I'm grateful for an I know we're lucky (me 90K, him 60K) and we have a mortgage on a 4 bed house worth 280K. (130K left to pay).

But I would not say we are "rich".

No debt, no mortgages, varied and multiple income streams, diverse investment portfolios, all that sort of thing. Not just a big house and good income.

I'm rich. I earn between 500k and 1m depending on bonuses and my husband earns much more. No mortgage, huge assets and investments, can buy whatever we want and can make a difference to family, friends and charities. I think 'rich' came when I stopped thinking about money and whether I could afford something and started to weigh up only whether I actually want something. Not many of my decisions are financially motivated as money is largely irrelevant.

You’re in the 1-2% highest earning households, so yes, you are rich by any normal, non millionaire standards.

I can’t wait for that ☝️Currently working my arse off to make sure it happens. Well done breaker

Anyone who doesn’t really have to work anymore is rich to me.

We'll never be in breakers category unless we win the lottery. But I'm happy with that.

We went on holiday at Christmas to the Carribean, and were the poorest people in our hotel given the conversations around us.

I just don't believe we're rich but it keeps getting chucked at us.

I see rich as family money passed down allowing family members to send DC to private School, live mortage free, holiday whenever they please, generally feel entitled due to a never decreasing income.

Obvs Breaker is also what I class as rich.

Rich is a comparative term. If you are looking around at what those around you have, try seeing beyond your fellow holiday makers.

breaker is rich. You are comfortable.

Even the phrase ‘the poorest people in our hotel’ is pretty disgusting if you consider the people that cleaned your room or cooked your breakfast...

I've got £1.37 in my bank right now.
I just had to go empty my copper jar to go to Tesco and get some packed lunch stuff for my dc for tomorrow.
I would definitely consider you rich OP.
It honestly feels like I'm actually on a different planet to you right now.

The only thing with these kind of threads is that people always come on going on about how you just need to work hard. I work bloody hard and I come home exhausted as do many people on minimum wage.
Poor people work hard too.

I think you are rich. I live in London and you are on nearly three times our joint salary. I assume you have children, as we do. And I don’t think we are badly off either. Going to the Caribbean at Christmas is an intrinsically rich thing to do. I have never been.

I don't mean any PPs have done that btw, just that these people always turn up.

It’s all relative depending on who you ask, but I would say you are high earners and well off. But someone on a 30k combined household would say yes you are rich.

I don’t think labels matter, but if you don’t have to worry about money or bills that much day to day, take regular holidays and could afford a surprise purchase (like a new boiler etc) then yes there probably is an argument that you could be called rich, at least by people who don’t have those things.

Millionaires.

I think you're well off. Breaker is rich.

Its relative. The family of 5 who live in a rented house on 1 minimum wage income will think I am rich. The family of 4 who live in a beautiful detached house on 2 acres of land and have no mortgage would definitely not class me as rich.

Does it matter?

Individual salary over 50k = Rich.
Household salary over 60k = Minted.

More than 300k in bank, rich.
More than 500k in bank, minted.

House worth more than 300k (outwith London), rich.
House worth more than 400k Minted.

I think you're rich, Breaker is wealthy.

Comparatively you are, as a PP has pointed out, richer than 98% of the country and most likely 99.5% of the world

Of course some people can be house poor. Eg: house is expensive but there's sod all in the bank. But those people are still rich if they can sell up whenever.

To me rich is not having to worry about paying any bills ever, being able to on holiday without having to save up first, being able to buy the car you want, not the one you can afford, being able to be at risk of losing a job and not being worried that you'll lose your home, just generally having so much money that you're not worrying about money. OP you are rich. Beaker you are even richer.

No, we dont have children

It's all relative. We probably seem rich to many people, we live in a big house with some land. My DH earns about £80k, me £40k. WE have 2 cars, no debt with the exception of the mortgage, 2-3 holidays each year. I don't feel 'rich' though. I still have to budget each month and we have to think carefully about savings etc to make sure we can cover emergencies. I fully appreciate though that to have what we do is a pipe dream to many so I don't feel rich, but I do thank my lucky stars every day for what we have.

Breaker what's your job?

I'd say rich was a millionaire, multiple properties and other assets etc