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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask what people consider rich....

651 replies

Imoen · 06/06/2019 11:51

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".

OP posts:
Savoury99 · 08/06/2019 22:49

I don't understand why people feel happier or richer if you have more than those around you. Are you not just living your life and loving the people you are close to. I haven't got time to worry if Sandra up the road is going on a cruise or buying some shit I'm not interested in. I'm busy loving my life.

lilabet2 · 08/06/2019 22:51

A combined income of 150k is definitely rich when the average family is living on 30-60k.

Verily1 · 08/06/2019 22:56

You can afford to pay more tax.

ChazsBrilliantAttitude · 08/06/2019 23:03

I think one factor is unconscious lifestyle inflation as you become wealthier. The norm amongst many of my peers is private schooling for your DC. Our DC are in private school. When I was growing up I only knew of one family who sent their DC private on a full scholarship. So gradually private schooling becomes seen as a required spend not a discretionary spend. Consequently people see it as a normal everyday thing not as an indicator of wealth.

Additionally, people don’t feel as rich as they think they should be for their income (partly due to the ridiculous house prices in the SE). Most people’s idea of a million pound house is not a 1930’s semi! If I had a house of equivalent value outside of the SE I would appear a lot richer even though nothing has changed.

chitofftheshovel · 08/06/2019 23:07

I'm rich. I spend a lot of time with my children. When they were at primary I was always there for drop off and pick up. Always there for ad-hoc days of parent help outs.

But worked, on a self employed basis, in school hours.

Monetarily I'm poor as fuck but we have a good life.

TeacupDrama · 09/06/2019 09:34

I agree a million pound house in some parts of London is what looks like an average house, I'm not sure there are more than a handful of houses in our area ( argyll and Bute) worth a million there are estates/ farms worth more but just a house not many
but a million in savings investments and pensions is rich wherever you live.

AlwaysCheddar · 09/06/2019 09:39

A combined income of 150k is definitely rich when the average family is living on 30-60k.

Rubbish. The take home for a joint £150k salary will be £90k. There will be zero benefits, probably bigger mortgage etc depending on where you live, and if that is the south east, you are not rich at all.

KneelJustKneel · 09/06/2019 10:23

Of course it is. Plenty of people on below avergae wages in the SE of family incomes under 30k. 150 is 5 times that....

KneelJustKneel · 09/06/2019 10:24

Chit. I like your post. I want that perspective!

Alsohuman · 09/06/2019 10:28

It’s beyond me how having a higher household income than 99% of the population can be construed as anything but rich. Those are the facts, this entire thread is about perception.

category12 · 09/06/2019 10:28

Alwayscheddar, do you think people on £30-60k get benefits?

KneelJustKneel · 09/06/2019 10:30

Absolutely Alsohuman.

I talked above avout objective facts (richer than 1/2% of the population)

Vs subjective feelings of not feeling rich. Really interesting psychologically. Almost a complete unawareness that nearly all the population live differently /with less than they have

KneelJustKneel · 09/06/2019 10:32

And child benefit is something like 1800 for 2 children. Vs an extra 10s of thousands in come isnt really comparable!

fancynancyclancy · 09/06/2019 10:49

do you think people on £30-60k get benefits?

On another thread recently a poster was looking at starting a new job for 30k. Now admittedly she was a single mum of 1 but she said she looked & would be entitled to 1000-1500 a month to help with rent & childcare. That’s not an insignificant amount.

Ithinkmycatisevil · 09/06/2019 11:03

@fancynancyclancy

I’m not sure how she ended up with those figures for a £30k income. The cut off for child tax credit is £32k after which you get nout.

I earn £18k and when I once calculated my online out of interest it said I would be entitled to £390 per month. Granted I don’t have childcare costs, and if you’re a single parent I think you do get some help with them, but not as much as that poster thought.

Obviously DP gets more and we get nothing to except child benefit on £55k house old income.

Ithinkmycatisevil · 09/06/2019 11:04

Sorry for typos, should be DP earns more.

InTheHeatofLisbon · 09/06/2019 11:09

It's relative surely?

If you earn £150k but struggle to meet massive bills and keep your home you're not rich surely?

Rich to me means not worrying about money. Which we do, despite being financially better off than we've ever been.

Rich means that a huge unexpected bill wouldn't cause problems I think.

For example if my car broke tomorrow, I'd have to save/borrow to get a new one.

fancynancyclancy · 09/06/2019 11:15

I was surprised too Ithinkmycatisevil particularly as her salary & benefits combined was the equivalent of earning around 50k. She was pretty adamant though. I think a fair bit was to account for childcare costs & rent. I have had a low salary & high rent costs in the past & never assumed I would be eligible for benefits.

tonglong · 09/06/2019 11:17

OP is rich and seems pretty ungrateful to think otherwise.

Plenty of us don't even make enough to cover the bills each month. Worry about gas and electric use. Struggle to buy shopping. Car in disrepair if you can even afford one. 1 holiday in 10 years. Worry the rent can be covered and bills made each month. Will we be to poor to exist this month.

OP is very rich

category12 · 09/06/2019 11:18

If you earn £150k but struggle to meet massive bills and keep your home you're not rich surely?

If you earn £150K and have massive bills you can't afford, it's more the case of living beyond your means and not managing your money properly than you're not rich.

KneelJustKneel · 09/06/2019 11:19

Hmm if youve got 150k income but jot meeting bills youre rich but making bad financial decisions. The house is too big and you downsize/ you're taking too big holidays/you can pull out of private ed etc.

If youre on a low income and cant pay the rent/afford food bills youre screwed.

BitOfFun · 09/06/2019 11:19

I'll repeat myself, as the strange assertion that you cannot be rich if you get a monthly pay cheque which may at some point cease keeps recurring:

I don't see anybody poor claiming not to be poor, just because "This time next year, Rodney, we could be millionaires!"

MorondelaFrontera · 09/06/2019 11:21

people do have a different definition of rich clearly

The poster who said that "anyone who has more money than me is rich" summarise it well.

I stand by the pay cheque comment.Having a bit more money to play with every month than someone doesn't make you "rich".

KneelJustKneel · 09/06/2019 11:23

Yep i do think most rich people see others richer than themselves so dont think of themselves as rich.

If you're in the top 1-2% of earners though you are rich!

KneelJustKneel · 09/06/2019 11:23

Othewise we get to an impossible situation where rich only really applies to a handful of people.

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