High earners - how do you spend your salary?

[Citygirly]

DH and I earn just under £140k combined.

We do maximum pension payments (his is 9% as NHS) and we also give about 10% a month to charity.

Other than that, we plan to start overpaying the mortgage. We invest £1k a month (so £500 each) and save £1k for holidays. We of course do general/specific savings but then have a good chunk left over for disposable income.

AIBU to ask other high earning households how they tend to allocate their money? Just want to see if we could be using it better or this is about right for comparables.

@MrsPetty how did you get so much holiday allowance?

Starting a savings pot for round the world cruise as we speak 😂

@locok We’re both self employed…not sure how DCs school is going to feel about it though 😬

@MrsPetty the cruise looks incredible, have an amazing time!

A couple I know did something like this, they had already lived abroad and decided to travel for a year as a family before returning to the U.K. They had homeschooled so just continued, then got extra tuition upon return. They felt worthwhile kids got to experience the world with them. How exciting for you - enjoy!

Such an entitled, insensitive post! Nobody cares what you do with your huge salaries! Most of us are just trying to get by 🙄

@Touchmybum

You didn't have to click on this thread much less post on it. The title is quite explicit. Feel free to start your own thread on your own topic.

I’m just waiting for someone to start a thread called ‘Lottery winners - how do you spend your millions? I am struggling to know what to do with mine!’

😂😂

Did you miss my last post? Clearly ignoring direct questions but happy to come on here with a negative attitude. No one has forced you to come on this thread. Maybe engage with a thread that is more appropriate for you and won't elicit feelings of rage?

I'm waiting for someone to go on pregnancy threads complaining how insensitive it is to ask advice when many people can't even have children. How about jumping on a wedding board and telling them off for planning their invitations when some people can't even get their boyfriends to propose?

@Robinni thank you so much 🙏🏻 I’m hoping that the school will email their work to me. I was a home educator for several years and if course through the pandemic too. DDs are 12 & 13 right now - will be 13 & 15 when we leave. This was a consideration. We wanted an adventure with them before they’re ready to fly the nest. We’re going to set up a YouTube channel to watch in our dotage 💕 I hope the hive follow us. My DH is fucking hilarious 😂

I’m not enraged - I’m utterly bemused by the thread! I honestly can’t tell if your post was genuine. If not, it’s in pretty poor taste, but if it is real then I do find it very strange.

You would have to be pretty indifferent about others’ feelings not to notice the huge number of responses from those who feel your post was tone deaf, and that you have stirred up a big debate on here about social inequality.

I also find it odd that you have been asking about the cost of private school ski trips and music lessons when you say you aren’t planning to have kids for a few years - how does this bear any relevance on what the cost will be and whether you will justify the expense of a class ski trip 15 years from now? The detailed childcare arrangements are slightly less odd but still may not be relevant when the time comes.

Presumably you would use a financial advisor to discuss major investments for you money, rather than asking strangers on the AIBU? board. But why would how they spend their disposable income bear any relevance to you and your life? So what if they have a designer handbag collection, a second home or horses? Isn’t that all down to personal preference? It’s not really a problem that you need input for.

I agree it's in bad taste.

I know no one has to click on it. But even the title of the thread, amongst the many threads on the cost of living crisis, it just sticks out like a sore thumb for being crass.

Also, it isn't comparable to people posting threads about wanting another baby or pros and cons of having a baby upsetting those with fertility problems. It is 'mumsnet', it is expected people will want to discuss babies. And usually, those threads raise genuine suggestions and perspectives around life choices and parenthood. All this thread does is just list where people's excess money goes.

I don't understand how people who are apparently smart enough to earn big bucks can think of that as an appropriate comparison.

Maybe it is expected that people will discuss babies but that's not the only thing that people discuss that could potentially upset those who are less fortunate.

I'd quite enjoy advising them on how to spend their millions!

even the title of the thread, amongst the many threads on the cost of living crisis, it just sticks out like a sore thumb for being crass

So do lots of thread titles. Scoll on by.

I really am getting fed up with people trying to police what topics are discussed on here. If I don't like a thread or am not interested in it, I don't open or read it. I advise all other MNers to do the same.

scroll

But it’s the AIBU? board - why post on it if you can’t bear being told you are being unreasonable? Isn’t the point of the board to discuss whether something is appropriate/reasonable or not?

@Merryclaire it's a genuine post, and you are within your right to find it strange. Clearly we have different interests, which is again, fine. Therefore if it is not something that interests you or you find 'strange', why do you continue to engage with the thread?

PP have stated it's tone deaf. But then I don't understand why they have also clicked on and read through the thread? The title is very clear and if it doesn't interest them they are free to scroll past. As a pp said, the thread is the room so many people have read the room correctly. No one is being forced to read through or respond. My thread title was clear who this was aimed at. Many people have provided clear and insightful advice which I've been grateful for.

You find it odd that I have asked questions regarding private school etc. Interesting. Those who answered clearly didn't find it odd and provided detailed and helpful answers. I, and others like myself like to plan ahead. Whilst the costs will change it is good to have an idea so I can have an idea of whether I think it would be feasible on our projected earnings. Again, nothing wrong with that which is evidenced by those answering the questions and engaging helpfully.

If you read through my previous posts you will see that I've explained we have financial advisors for our investments and protection. My initial question was regarding disposable income. I received amazing advice over and above what I initially asked and I'm very grateful for that. It's bizarre that you are perplexed by my questions because clearly you have nothing profitable to add to the discussion but there are plenty of posters on this thread that do.

Many people ask strangers a range of questions on a variety of boards on Mumsnet - as is their right. It's not your job to police what is posted or where. The relevance has been explained in my several posts and by other pp who have identified why it would be beneficial from me to have guidance from other high earners as I come from a modest background.

My AIBU was re other high earners and how they spend their disposable income. Not whether it's reasonable to post this at all. I think that is quite clear in my op.

I hope this answers all your questions clearly and comprehensively. I suppose the main takeaway is that really, you should read the room, which starts with the thread title.

I'm not policing. I don't particularly care that it's here and it doesn't offend me personally. I just think it looks obnoxious, and therefore pointing it out

@Woundabout wow, you wouldn't call £140k high earning? It's 4 x our household income. You said you earn half of that- THAT'S high to us!

Hmm, I agree people shouldn't be able to close threads about "high earners" down, simply on the basis that some people are on benefits etc.

But come on OP - this thread is a disingenuous nonsense. And well you know it!

You can't just talk about "high earners" as this is relative to so many factors - age, how many children you have, where you live, your mortgage / rent / other underlying costs - all sorts of things.

It is utterly pointless asking other people what they do with their salaries because they have totally different lives and obligations to you.

If you wanted "genuine advice" that you can actually act on, you would have gone on a money matters type thread or see a financial advisor.

You need advice on YOUR specific circumstances - relative to where you live and your stage of life.

You must realise that referring to yourself as a 'high earner' is crass. It's also embarrassing because to many, you would not be considered a high earner at all.

It seems you are a young person who feels you are doing well for yourself and wanted to post about it on the internet. Well done on what you have achieved in your life so far. But go to the bank and ask for an advisor. It doesn't matter to you what "MsX in Wimbledon with her 5 privately educated children and penchant for MN, champagne and rare Persian cats" does with her money does it?

To those who have actually provided helpful advice on this thread and to those who have stated they have read through and benefitted themselves - do you know how a new corner on Mumsnet is created?

I think from the reaction of those who have been offended by this thread, it may be better to have a 'high earners' corner or something similar because then people can have discussion threads such as this in that space and feel it is appropriately placed and not open to criticism.

What are your thoughts?

@Citygirly

high earners' corner

Yes, definitely

Keep the riff raff out.

What is the bar though? I am not high earning but enjoy reading other people 's experience as a source of inspiration and motivation.