..to struggle to comprehend huge salaries?

[missbunnyrabbit]

I was reading the thread about how much people earn having been to grammar/private schools and I just cannot get my head around how much lots of people earn. My head just cannot imagine such huge salaries. People earning over 100k, what on earth do they even do with that money? Do they buy everything gold-plated? That's a joke BUT I have no idea what anyone does with that sort of money or what it could be needed for. This isn't a bashing thread or anything like that. I'm just a bit stunned.

Does anyone else's brain struggle to imagine such huge amounts of money?

[quote ImNotDancing]@malin52 thanks for helping us little poor people, so good of you[/quote]
Wow! I won't respond to this.

As I said (not quite in these terms) in my earlier post, what you imagine living on 100k must be like and the reality are quite different. Like a lot of other posters on this thread, I have earned very little (my first job after five years of undergrad and post-grad study was a temp job that paid £14.5k). I can remember imagining what life would be like on the big bucks. The reality is different - very comfortable but certainly not a 'gold plated everything' sort of lifestyle. There's no need for tiny violins - people were just answering the OP.

Yes, I’ve made sacrifices throughout my life and actually experienced poverty first hand. That’s the drive, that’s the raw ingredients inside me that have got me this far and will take me further.

I won’t and don’t apologise for it at all. Remember, if you don’t choose to work smart, you will always work hard.

Childcare is expensive, it’s a choice just like everything else.

I’ll pay it and know I funded my child’s development through hard work and teach them that they should do it too.

That’s the system at fault. Can’t blame people taking fruit of the tree if it’s brimming with ripe pickings. Can’t also blame those who saw it first.

@CSJobseeker what is your obsession with Adele? You've emtioned here several times and she has no relevance to this topic. There are many many rich people that find ways to pay less tax but that's not what this thread is about.

@Libertaire

You do realise that the government takes 40% of everything you earn over £50k in income tax, and that a gross salary of £100k equates to take-home pay of around £5500 per month, don’t you?

That’s a decent salary, particularly if your other half also works and you don’t live in London, but it’s by no means rich.

Actually in terms of global income it is very rich .

( I earn just under)

I enjoy the misquoting going on there because that was clearly aimed at people who earn 30k a month!

I wasn't deliberately misquoting. I quoted you but obviously I quoted a post that wasn't aimed at malin52 and missed the one that was. I wish you had just corrected me instead of telling me we will never see eye to eye.

@Pallisers Yes, this is so true. I was born in a poor country that was going through huge upheaval and I remember shortly arriving in the UK, watching people at the big Tesco loading up trolleys full of food then queuing nicely to pay for it and thinking "wow, look at how the other half of the world live". Of course now that just seems standard. Wealth is all relative and whatever lifestyle you're used to just becomes normal to you.

I saying that though, I think it's good to keep a sense of perspective. I don't begrudge people their high incomes but some people are really lacking in awareness, like those saying £5k a month isn't a high income, when objectively speaking it clearly is, as it's way above the average salary. I can see why some of the responses have the lower earners' backs up.

Wealth is all relative and whatever lifestyle you're used to just becomes normal to you.

This sums up this thread!

£5500 pcm is rich!

It is a nice amount, but isn’t in “rich” territory. Our joint income is £6.5k but immediately about half of that goes on mortgage, utilities, car, pension and all the other bills. We don’t live in an expensive city and although our house is a decent size, it’s still just a 4 bed detached new build, nothing fancy. That gives us a decent amount to live on and have money to save, but we couldn’t afford private schools and fancy cars or holidays on it. We are in a much better situation than a whole lot of people and live really comfortably but it is a stretch to label us as rich.

I discovered the other day that private school with boarding costs upward of £40k per yr, so that’s what lots of them do with it I guess. But I have a couple of friends who have household income of £150k+ and no private schools or ponies who talk about not being able to afford not excessive stuff so i suppose big mortgages, maybe whopping pension contributions, a kid at uni etc makes them feel like they’re struggling more than I’d expect.

@Libertaire

You do realise that the government takes 40% of everything you earn over £50k in income tax, and that a gross salary of £100k equates to take-home pay of around £5500 per month, don’t you?

That’s a decent salary, particularly if your other half also works and you don’t live in London, but it’s by no means rich.

This is the sort of thing I can’t wrap my head around though. I’m not saying that to be horrible. Between me and my partner we end up with about £2200 after tax - can’t imagine having double that considering I feel relatively comfortable with what we have…

[quote Rapunzel91]@CSJobseeker what is your obsession with Adele? You've emtioned here several times and she has no relevance to this topic. There are many many rich people that find ways to pay less tax but that's not what this thread is about.[/quote]
It wasn't me that brought up Adele, or the percentage of her income she pays in tax! And tax has been a recurring theme on the thread.

But yeah, I think pretty badly of her for her tax avoidance (not evasion).

No decent level of medical care as people who have never put in or out very little in are whinging about every ailment going.

So I am a big contributor to the tax system paying an array of different taxes and what is the perception of me by small minded individuals? That I am greedy and well off and burn £5 notes.

Seriously, there is opportunity out there. You just have to want it and be prepared to take one step at a time to get there.

Yes, this is the kind of bullshit rant that breeds resentment of those who earn high salaries.

Come on all you lazy, workshy, scrounging poor people, you too can earn 100k if you just try, you just don’t want to.

I’ve already replied and sadly we’re not high earners. DH earns 50k which is a descent amount for us. I work part time so but don’t earn much.

I do know a couple whereby they DH works in London and and commutes to Northern England. Tried to get home Friday goes back Monday. He earns over £100k and his eight earns about 40k (working part time)

3 kids go to private school and they have the dream house, fancy holidays etc but I just think is it worth that income being separated from your family most of the week.

He wouldn’t get a job in the northern town close to where they live as they don’t pay the big bucks plus it’s quite niche so really needs to work in London.

At 50, he’s now staring to have health issues and the pressures of the job aren’t helping. Money is great but at the expense of seeing your kids grow up. Nahh it’s not worth that much.

wife not 8

This is simply not true. Who are most people? Junior doctors? Or do you think your more important?

I'm not against high earners but at least realise what's been pointed out to you. People do hold high responsibility and get paid a lot less than you. That's life but you should surely be able to recognise that.

@bunNcheese Er... you appear to be violently agreeing with me?

My point was precisely that many people have vast responsibility at work, but low pay. The example I gave in my previous post to that poster was a nurse - if they mess up someone dies. Junior doctors earn a bit more but are in a similar position.

I wasn't claiming that low pay = no serious responsibility (or vice versa).

@BoredZelda

No decent level of medical care as people who have never put in or out very little in are whinging about every ailment going.

So I am a big contributor to the tax system paying an array of different taxes and what is the perception of me by small minded individuals? That I am greedy and well off and burn £5 notes.

Seriously, there is opportunity out there. You just have to want it and be prepared to take one step at a time to get there.

Yes, this is the kind of bullshit rant that breeds resentment of those who earn high salaries.

Come on all you lazy, workshy, scrounging poor people, you too can earn 100k if you just try, you just don’t want to.

Agreed. I can totally understand why that tone pissed people off.

Yes the "whinging about every ailment going" comment is just unnecessarily cruel. I have a chronic hereditary condition (as well as a history of mental health issues) that I need the NHS quite a lot for. That's not whingeing about every ailment going, that's needing essential healthcare.

@pucelleauxblanchesmains

Yes the "whinging about every ailment going" comment is just unnecessarily cruel. I have a chronic hereditary condition (as well as a history of mental health issues) that I need the NHS quite a lot for. That's not whingeing about every ailment going, that's needing essential healthcare.

Yep. Same. Chronic autoimmune conditions that wipe me out and are rare so am constantly shattered - yes I use the NHS a lot but I didn't bring any of these conditions on myself. Was perfectly healthy and then bang, I wasn't I pay for denplan as I can't get an NHS dentist

Work 40hrs a week and earn about 25k (18k basic, the rest is bonus), pay a mortgage from that and a car, no DC as I wouldn't ever be able to afford them

Was perfectly healthy and then bang, I wasn't

And by the time you realise you have them it’s “sorry mate, pre-existing condition” so even if you wanted to take on private healthcare insurance, you can’t.

@BoredZelda

Was perfectly healthy and then bang, I wasn't

And by the time you realise you have them it’s “sorry mate, pre-existing condition” so even if you wanted to take on private healthcare insurance, you can’t.

Yep. Can't get life insurance or critical illness cover as it's classed as a critical unreliable illness. Excellent

We may be high earners now but as children, my husband was raised in real abject poverty (holes in shoes level), alcoholic father, disrupted schooling and whilst I did not face that I certainly never knew basic 'luxuries' like new carpet or a spacious home so we both very much appreciate the high income we have and we treat it with respect knowing that high income is never guaranteed and it can go away overnight with job losses. I still like to pick up clothes at charity shops and the fact we have not developed high price tag tastes means we can save a very large % of our annual joint income pre-tax, which is allowed in the US. I think neither of us have developed that wealthy spendypants mindset which I am glad about so no doubt people looking on would not think we have the income level we have. Discovering the FIRE movement has made us aware that there are many people retiring in their 30s by getting reasonable well paid jobs and saving as much income as they can in the 10-15 years they work. By 35 they are retired with their million in the bank and they live off interest. Now that is the way to go if you are still young enough to make that happen- live frugally, save a ton and get out the rat race before that rat race takes your health somehow.

Like anything, this depends on your own outlook on life.

Interpreting what is being said by high earners as calling others lazy is clearly a sign that you have some frustration, why not channel that frustration into a plan to be better off rather than ranting.