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".

@stopgap I actually admire you for saying you are rich, as its true those who are rich but insist that they are not because 10,000 people in the whole UK have more rather annoy me
in no scheme for anything at all can anyone above the 90th centile claim to be in the middle
if you are in the bottom 20 % you are poor the next 20% just managing
next 20% doing Ok next 20% fairly comfortable next 10% comfortable next 10% rich of which only 1% are really rich and of them only 1% are multi millionaires

If you have a massive salary and over-stretch yourself financially, it doesn't make you not rich or not well-off, it just means you've misjudged your budget. Saying otherwise makes it meaningless - you could make millions but spend so much you're short at the end of the month and then complain you're not wealthy.

@stopgap

You have a good perspective on things. I don’t know why others are so cagey about admitting they’re rich, it’s nothing to be ashamed of, in fact good on you, especially if you’re self made.

Like you I find it distasteful that people on huge salaries won’t admit that they’re rich and be grateful for it.

I’d love to be able to say I was rich! We are average though (actual average not mumsnet average) and I’m happy with that.

Rich people seem to chose a lot more 'bills' than poor people. Let's put it that way.

For many people, the point of working is so that your family doesn't starve to death. Nearly everyone gets time off from work. Lots of people can't afford to go anywhere so they stay at home. People like me can afford cheap little holidays occasionally. Some people spend thousands and thousands on exotic holidays, consider it a bill, and still aren't happy.

I'm poor, but I live in a house, spend plenty of time with family and I never eat roots (unless you are count root vegetables).

Honestly OP, I don't think you are rich, perhaps you are just richer than some of your friends/family. It's all relative. Rich for me would be 3+ properties (for yourself not rented out), work not necessary (but may still be done), several hi-end cars, frequent holidays without worry of cost etc.

The idea that you can't buy happiness is a lie.

It's a lie people without money tell themselves to make themselves feel better.

I've been poor and now I'm reasonably wealthy (not rich). I'm bloody loads happier now. Many (not all) of the things that make me happy have been bought. Including private healthcare.

It does help but it also depends how you get it. A stressful pound of flesh type job might make you more miserable than a less rich person

And yes being stressed about bills is not fun but taking yourself out of the whole rat race might be the right way

ithinkmycat I have supported my husband all the way, as my salary alone would score us perhaps a lockup garage in London 😁 That’s working in the arts for you.

My husband came from a professional background, but he’s absolutely self-made.

@Lifecraft

I don't believe it is a lie, I know people that have way less than me and are so happy.

But saying that, I can't even imagine how life would be if my life wasn't the way it is now.

So I guess in a way you're right, as I would not be able to give my son the best of everything.

I am glad that you are happier now

Mortgage free.
I don't work.
Kids in local schools
Husband works for enjoyment (entertainment industry/sport)
Large Income and multiple portfolios, properties abroad.

Husband classes us as working class and comfortable.

It's all relative.

@morondela some bills are not necessities
you can only pay them or even have them because you are rich if you were not rich you couldn't have school fees, and yes holidays are a luxury

necessities are necessities but the there is still a high degree of choice in how much these cost if you max them all that doesn't make you less rich

1. a roof over your head ( whether a studio flat or a mansion) and furniture
2. enough food ( choices as to whether Aldi or Fortnum and Mason or something inbetween)
3. utilities water and sewerage, heating and lighting ( less choice but the amount depends on largely on choice 1) I would also include a method of connecting to internet but costs can vary hugely
4. commuting to work
5. for some people childcare or other forms of care
6. essential clothing footwear toiletries how much this is again hugely variable

luxuries holidays, presents, non essential clothing, beauty treatments, cars, cleaners, gardeners, eating out, cinema, clubs sports cultural events, private education and health care, etc I am not saying anyone should forego luxuries but they are not essential bills and the amount and extent of them is wealth dependent , no one can make choices or spend money they don't have No-one is saying you should live in a cave or not enjoy your wealth and riches we are just saying you should admit that you have wealth and riches instead of pretending you are in the middle somewhere when actually you are in top 1%

it’s your choice if I be a SAHM
It actually isn’t. I’m very much trapped. While DH earns £60k I’d barely scrape minimum wage if I went back to work. Deduct tax, student loan, reliable car, parking permit, work clothes etc, and my remaining salary wouldn’t cover the cost of childcare. We’d be worse off if I worked, so I can’t work.

Very wealthy people have a choice about whether or not to work. Poor people cant afford not to work because they have money left over after paying for childcare and they need that money. And the absolute poorest people can’t afford to work because their salary wouldn’t cover childcare.

I'm rich. DH and I are able to save a substantial amount each month, 2 kids in private school, holidays etc.

I feel rich because we have everything we need and don't have to worry about money.
But if you were to compare our salary to the average in this tax free Caribbean island that we live on, it is very, very easy to declare that you're not rich when your friends are multimillionaires and have yachts and ski lodges in Colorado and apartments in Manhattan.

But yes, we're rich and we don't ever take it for granted.

I can't afford to put my own kids in private schools, but I don't believe that just because someone can, or earns 50k more than me, they qualify as "rich".

As long as you depend on your pay cheque to live, you are not rich.

"take yourself out of the rat race" then do what? Go on benefits? if mortgage is not paid off, kids need to be taken care of, you can't afford it.

I was referring to highly corporate jobs specifically

Start a thread on here asking if you love your job what do you do and you’ll get a lot of lower paid jobs.

was referring to highly corporate jobs specifically

and do what?

It's actually surprising hard to take a job involving a huge pay cut. Recruiters do not believe your commitment, think you won't stick around and can't understand why anyone would chose to step down.

It's also very hard to find a job out of your current geographic area.
Unless you go for similar high level jobs where relocation is common, no one will employ you if you don't live locally. It makes sense, but saying that high level employees have it easy is quite naive.

I would not say to anyone it’s easy to switch careers. In fact a thread on here recently with an unhappy dh had loads of posts saying just retrain. Very difficult.

But it is possible that day two teachers are every bit as happy as anyone else - referring to the it’s a lie comment below

Actually becoming a teacher is not as hard as other things

Ooh interesting can I just throw it out there that I often feel Rich
Nice 4 bed house
Nice car
Three healthy children
A partner that is devoted to us and lots of family and friends .
We get at least one holiday a year and earn about 35k between us - please don't burst my bubble and tell me I'm not rich

Again, this rubbish about pay cheques! Newsflash: you are RICH if you have a highly-paid job. It doesn't make you less rich if you theoretically might not always earn that amount.

ou are RICH if you have a highly-paid job.

define highly-paid job. Some posters have very low standards!

If you are Ramsey on £300k a week, then yes, I would consider you rich - but I would recommend another accountant pronto if you get all that on PAYE

Rich to me is an income of over £200k a year. Own home outright and have supercars/ very nice cars.

Wealthy is having several million in the bank.

Well-off is probs anything above £90k.

I treat over and over again people claiming that they can't possibly be rich because once they've paid for the cars, cleaner, school fees, children's activities, mortgage on their 4 bedroom detached house, clothes and grooming expenses etc, they barely have anything left.

I suspect that there are multimillionaires around somewhere claiming that they can't possibly be rich because once they've set aside money for taxes and long term investments, they barely have enough left over to cover their everyday expenses.