Do you think £100,000 a year household income is a lot of money?

[SleepDreamThinkHuge]

I think it is a lot of money even in London where I live. When I hear people say things like "£100,000 is not enough to live on even in London" I think to myself what are they talking about. I have a family of four and we can only dream of earning that amount. The maximum I can see us earning is about £60k if we are lucky. Currently on over £40k combined income with still a relatively high rent and everything does go on bills and other necessities. But sometimes we are lucky and manage to save some money a year. Luckily no debt. I just think to myself £100,000 would be life changing even in London.

What are your thoughts? What do you consider to be average and above average in London and the city you are from?

Why not buy a 2 bed flat and have a bed settee in the living room.
A lot of my friends have done this. 2parents and 2 children in a. 1 bed flat. Another friend bought a studio flat for her and her child just to get out of paying huge amounts in rents.

I would like a 4 bed house but know I will probably end up buying a 3 bedder just to save the money on the rent.

We have a mortgage of a 2 bedroom flat in North London + 2 children and husband earns a bit under 70K. He’s got a Volvo X90 and I’ve got a jaguar E-Pace. It’s absolutely possible to live with 100K, we manage to have a good lifestyle with just under 70K. We’ve got plans to sell our flat and upgrade to a 3 bedroom house and our finances would allow us to get a 600k mortgage. We’ve got no financial help as well. So whoever says “100K isn’t that much” must be talking about living in Knightsbridge/Kensington/Chelsea, sending 3 kids to private school and frequent holidays.

I’m not looking for sympathy @Blossomtoes im just saying it’s not loads of money left over and we aren’t exactly rolling in it - but get that it is a lot compared to others.

also we both work bloody hard to earn what we do and it took a long time to get there - it’s not that we are just lucky or something.

You were fine until the 'we work bloody hard' argument.

Unlike all the rest of us lazy workers, amirite?

I really hate the 'we work really hard'. Do people think those on minimum wage don't? Including those working 60 hours a week to make ends meet?

This.

That’s not what I mean ffs tone is hard to get across

it sounded like you were giving me a hard time for having more money than others which is unfair.

of course I know that everyone works hard especially those in low paid jobs I have worked in retail and as a waitress and at one point 3 part time jobs - I know it’s bloody hard

but I resent being told it’s not fair that someone else earns more money.

im not gonna get into it further as it’s stupid to be arguing about this.

all I was trying to say was 100k in an expensive part of country is like earning 50k somewhere else - if someone has 100k in the cheapest part of the country with cheaper childcare bills, cheaper mortgages they will be rich

a family with 100k in London with small children and childcare bills are likely not to be rich.

we will be much better off when children are older and no nursery bill I suppose. But then so is someone in a cheaper area once their childcare bills go down when school starts.

We have a mortgage of a 2 bedroom flat in North London + 2 children and husband earns a bit under 70K. He’s got a Volvo X90 and I’ve got a jaguar E-Pace. It’s absolutely possible to live with 100K, we manage to have a good lifestyle with just under 70K. We’ve got plans to sell our flat and upgrade to a 3 bedroom house and our finances would allow us to get a 600k mortgage.

err how can you get a 600k mortgage on 70k?

So whoever says “100K isn’t that much” must be talking about living in Knightsbridge/Kensington/Chelsea, sending 3 kids to private school and frequent holidays.

And it would be impossible to send 3 dc to private school on 100k in Chelsea and pay a mortgage.

Spot on. We all work hard, some people are better rewarded than others. And, yes, luck definitely plays a part in that.

We’ve got equity in our current flat which is also considered for a mortgage application.

It's 3.5 times more than I earn! And I live alone so I have to pay EVERYTHING by myself out of my paltry salary 🤷‍♀️

Yep.
Not a chance.

She didn’t say other people didn’t work hard did she??

Dear god.

Me: I love bananas
Somebody else: what? So you bate cherries and oranges.

Exactly the same logic in that response to OP saying she works hard.

Her post is about her - not about you.

Grow up.

And I don’t work at all hard for my money tbh. Just a niche set of knowledge that used infrequently, but can be costly to employers and so I’m well recompensed for this. I really don’t work hard at all.

Give me your take on that then. Am I also inferring you don’t work hard too?

She didn’t say other people didn’t work hard did she??

Dear god.

Me: I love bananas
Somebody else: what? So you bate cherries and oranges.

Exactly the same logic in that response to OP saying she works hard.

It's not. She is saying that she earns a lot of money, and she works hard, it's not luck. That suggests that the reason she has money is because she works hard. Try again.

And I don’t work at all hard for my money tbh. Just a niche set of knowledge that used infrequently, but can be costly to employers and so I’m well recompensed for this. I really don’t work hard at all.

Give me your take on that then. Am I also inferring you don’t work hard too?

No, but you're showing that you earn good money because you are, in fact, lucky. To have the work that you do valued in that way.

HTH.

It's not. She is saying that she earns a lot of money, and she works hard, it's not luck. That suggests that the reason she has money is because she works hard. Try again

I don’t need to try again. Her comment about her working hard is just that! She works hard. She made no reference to other people’s work ethic or not.

I am well paid because I have skills which have been obtained through years of hard work and many hours and practice. I am currently recompensed appropriately due to niche knowledge. I work few hours but possess highly specific skills. Please tell me how that is luck of I worked at and hones those skills over two decades!

So are we both just lucky. Me and the OP. Everybody who earns well is just lucky??

LOL if you think that’s actually true.

Everyone who earns well is just lucky. And everyone who doesn’t is not!

Such warped , victim mentality.

Yoi can earn well and work hard. Work hard and earn poorly.

Earn well and do very little and not work hard at all and earn very little.

Not hard to grasp is it.

Try again.

It's luck because

You went to a school / had parents that enabled you with whatever basics you personally needed ( that was me / because my parents took me out of one school to ensure this ) ( doesn't need to be formal education /?it can be attitude . It can be how your childish brain responds to deprivation even )

You have the genetics brain type to learn that niche stuff and the genetic brain type that makes it easy to study now for gain later

Key points in your life you would have been thrown off course if you had some bad luck - very ill parent who you cared deeply about , a random street attack that left you off work for months and damaged your confidence ( both those happened to friends of mine )

When it came to getting on the job ladder you managed to appeal to the right interviewer - I was lucky here - a friend ( male - it was the 80s) got the role I wanted - looked a much better bet- but then the firm collapsed 5 years later . Many interviewers make up their mind in 7 seconds - it's not your skill. It's how well your face fits with them

Hard work, good skill sets , taking risks and career focus all matter but at the end of the day luck dominates every stage

We’ve got equity in our current flat which is also considered for a mortgage application.

Well that's buying a 600k house not getting a 600k mortgage.

And someone buying now may find it much harder to make hundred of thousands of equity so you can't compare really.

Our income is similar. It sounds like loads but in reality, the mortgage is 2k+, council tax is huge, energy bills are about to be as much as a second mortgage and we live pay check to pay check.

I don’t need to try again. Her comment about her working hard is just that! She works hard. She made no reference to other people’s work ethic or not.

Again. She says she earns good money, she works hard for it and is not lucky.

That suggests that her hard work is linked to her money.

This also implies that people only have to work hard in order to earn good money.

Therefore, once can infer that people who do not make good money don't work hard.

I assume your very niche job doesn't involve comprehension skills, you are very literal and lack the ability to see nuance and inference in speech 😇

It sounds like a lot but I don't live in London so no idea if it's a lot there or not.
Currently on about £40k combined with 3 children and it's manageable but doesn't leave much once bills are paid

My parents enabled fuck all.

I did everything I did through sheer grit and perseverance. And it paid off.

How unfortunate that it’s positioned that people who don’t earn well are unlucky. Some will be of course, others won’t.

And to suggest that irrespective of skill set you get a job just because an interviewer likes how you look? Are you for real? Or at least not that well educated that you believe this holds true in most circumstances.

It’s sheer idiocy to suggest that in a country with free education and plenty of help if you can be bothered to look for it, that everything is down to luck (or not).

Your rationale taken to the extreme suggests that many people are screwed from birth no matter what they do. This is simply not true for most people. You also imply that hard work can’t pay off. It’s luck or it’s not.

Read that back to yourself.

Uggh!

’It’s not my fault, I’m unlucky’.

Maybe! But you can also be lazy, unmotivated and lack grit too.

It doesn’t imply anything at all. In her case her hard work probably is linked to her good money. She is not talking about other people working hard or not - which is what another poster took exception to.

Not everything has subtext and a hidden meaning.

And btw my well paid work is of the legal nature in a regulatory environment.

So LOL to the lack of ability to see nuance and infer meaning. It’s what I now spend a significant proportion of my (very few, extremely well paid) working hours doing.

Experience honed after years of hard work, long hours and developing a niche skill set. A lot of hard work has gone into this.

People can stay as mad as they like but there are plenty of well paid people earning good money because they work hard! It does actually happen. Not everybody on >100K is a lazy so and so doing very little.

anyone who thinks hard work doesn't need luck to be successful is wrong