To think a combined salary of 60k is really comfortable?

[BathedInLavender]

OUTSIDE of London. But still in the South East. This isn't a conversation about London because that obviously won't go very far there full stop.

AIBU to think a combined salary of 60k is actually comfortable and not 'meh' at all.

DH earns 30k, I earn the same but I'm part time so it's less because of pro rata. We aren't struggling by any means. If I returned to FT we would have a lot more spare cash, and we have a fair bit now. We don't have cheap housing costs, £900per month just on that.

I spend a lot of money on ridiculous crap and we holiday every year with DC.

It's not bad money if you're not paying out for an excessive mortgage or rental costs, I'd say.

Yes neither of us has student debt

One brings in 2400 a month, the other 1600 a month

Then child benefit on top is £140 a month roughly for 2 kids which is a handy top up that a single Warner over £50k wouldn’t get ( seems unfair)

@dontdisturbmenow

What amazes me in these threads is that everyone mentions mortgage, rental costs and nursery fees, which makes sense as these are the largest outgoings, but there's never any mention of pension.

Is this because people don't pay into a private/occupational pension or very little?

My OH and I pay over £1,000 a month I to.oyr pensions, so that's out biggest outgoing but we went to retire early and with enough to enjoy luxuries.

We pay £700 a month into dh's pension, which is where the savings pot of £150 k comes from, we will live on DH's final salary and his state pension, until my state pension kicks in. I also have a small final salary, but as I have been on the cancer bus twice in five years I am taking that and running away with it, (aka as it will go into the savings pot) If my DM dies without needing nursing care there is a decent inheritance there.

We struggled for years, I hope I live long enough to enjoy it.

@Frokni

My DH and I would consider that life-changing and would be a lovely goal when I'm back at work. I would argue (ready to be flamed) people SHOULD be able to live comfortably off this if they didn't aspire to private schools, new cars and high end holidays. However I have learned that people on 60k can still have credit card debt in the 10s of thousands!

We have 2 DDs and live off £45k per year when I am in part time work. No credit cards or debts. We have had 1 holiday in 5 years and to some that's not enough but to us we are very happy consider ourselves blessed but by no means wealthy.

DH and I don't have any debt, we pay a significant % of our salary into our pensions, we have savings. Yet £60k would not be a sufficient amount for us to be 'comfortable'' due to where we live. Mortgages are high here (expensive part of Surrey)!

@Backbee

Yes £60k is enough to live comfortably. We are on above that, but having grown up with very little money we make decisions to take into account scenarios such as one of us losing our job etc- might sound boring and negative to some but it works for us. So our mortgage was about half of what it could be, we compromised on some stuff but it has everything we need and is big enough for us and in a location we like.

*depending on where you live.

Being able to pay large sums of money a month into a pension is absolutely a sign of being comfortably off.

@ImAllOut

Being able to pay large sums of money a month into a pension is absolutely a sign of being comfortably off.

I agree.

Strawberrypancakes

We’re on 134k jointly and honestly, it’s not that comfortable. But it’s all dependant on so many factors so it’s difficult. At 60k jointly I’m pretty sure we’d lose our house.

It all depends where yo

Your having a bloody laugh are you? Off course that’s comfortable. My god mn is a different world to where i come 😳

@Frieswithanythin

Strawberrypancakes

We’re on 134k jointly and honestly, it’s not that comfortable. But it’s all dependant on so many factors so it’s difficult. At 60k jointly I’m pretty sure we’d lose our house.

It all depends where yo

Your having a bloody laugh are you? Off course that’s comfortable. My god mn is a different world to where i come 😳

The trouble is people usually live within their means. I'm earning more than I ever have before and my expenses are more than they ever were before. My fault I guesss I could be very comfortable if I didn't live to my means

One issue with high salaries & not recognising their worth so to speak is that you are often working with or have contact with people with mega salaries, so whilst 150k may put you in the top 1% some others in that bracket will be earning 600k, 1m etc

Being able to pay large sums of money a month into a pension is absolutely a sign of being comfortably off.

I agree. Those who say it's down to area also don't seem to realise that having a mortgage in such an area means that you're well off. Those who aren't well off in areas such as Surrey don't own.

Your having a bloody laugh are you? Off course that’s comfortable. My god mn is a different world to where i come 😳

Don't worry, I'm with you!

I'm earning more than I ever have before and my expenses are more than they ever were before. My fault I guesss I could be very comfortable if I didn't live to my means

That means you're comfortable!!! Christ, not being comfortable means not having that choice!

We’re South East and no, we wouldn’t be comfortable on that. It depends how high your mortgage is and if you have childcare costs surely?

@TheOtherMaryBerry but often it's age specific as well. I have colleagues a bit older than me who have much smaller mortgages than me simply because they bought before prices went crazy.

I lived in a country where people rented. Rental prices soared in the last ten years. Nobody had a pension to cover it. Several elderly people jumped out the windows in my town. A third of suicides were due to eviction, mostly elderly. There were huge protests.

Please don't say that having a good pension is "comfortable". Everyone who works all their lives should have a roof over their head in old age. It's an essential now. Rent is going to be at least 10k a year and you can live 20 years after you retire, so budget 200k for rent.