Page 6 | Looking wealthy or being wealthy?

Animallover87 · 2022-12-06T17:11:47+00:00

AIBU to think there's a difference between looking wealthy and being wealthy? I think understanding the difference, between being wealthy and looking wealthy, is key to changing your financial situation. Our culture today almost encourages looking wealthy as being the ultimate aspirational target. With beautiful Instaperfect homes, 2 shiny new cars, amazing garden makeovers, £1200 phones, and £200 trainers being shoved down our throats, many people desperately want a piece of that. Reality TV and social media encourage us to have that perfect lifestyle and it can be really difficult to avoid the trap of looking wealthy. But while some can afford this lifestyle, many of these "Joneses" simply cannot. They might look wealthy, however, they are anything but. Many of them are up to their eyeballs in debt, are continually spending more than they earn, and constantly worrying about how they can afford to pay their bills. Have you ever felt the pressure to spend to keep up with others? Or are you able to resist the spending but feel jealous of others?

Feelallright · 07/12/2022 06:50

Fragrantandfoolish · 07/12/2022 06:36

Did you write this wrong, top ten percent is not remotely wealthy it’s 60 odd grand a year, very few people consider this Wealthy . It would be lovely if British wages were such that the top ten were wealthy, but it’s not the case.

I think this is the issue on rhe thread, the definition of wealthy , some people are classing themselves as wealthy when they are not. And that’s why they are running around in Tesco jeans and driving low cost old cars.

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Of course it’s wealthy. It might not be mega wealthy but it’s definitely wealthy. Top 10% on or above 60k is wealthy. That’s why it’s the top 10%.

YoBeaches · 07/12/2022 07:04

Household income of £60k isn't top ten percent when it feeds a family. An individual on 60 just for themselves would be, but for a family of 3 or 4 it's average salad circa 40th percent

The gap between high earners and the wealthy is significant. The top 1% are earning average £3.6m per year and those at top 5% are at 80k.

YoBeaches · 07/12/2022 07:05

And obviously wealth is more than just earnings - it's owned assets and debt liabilities.

Purplemagnolias · 07/12/2022 07:23

What a ridiculous question to ask, op. Of course being wealthy is not the same as 'looking' wealthy. People have different priorities.

The fact that you're concerned about wearing last year's boots says a lot about your priorities.

Fluffygreenslippers · 07/12/2022 07:28

Animallover87 · 06/12/2022 17:42

I'm not a journalist - promise! It was a hot topic on my lunch break with colleagues so I thought it might be an interesting discussion on here.

I'm neither wealthy nor look wealthy but I am conscious I have an ancient phone, last year's M&S boots on and the young folk at work are cutting about in designer gear with the latest iPhone. I could afford these things at a push but I'd rather have a bit of a cushion.

yeah they probably all live at home and have no other outgoings. Reminds me of my sisters ex; he was always wearing Stone Island and shit like that but he lived at home in a two bed council flat and didn’t pay a penny towards rent or bills. He took out a 5k loan apparently to cover a flat deposit for him & my DS, and blew the lot on designer clothes. Anyway they broke up.

AnotherLogOnTheFire · 07/12/2022 07:42

mitsy5 · 06/12/2022 23:02

I find the genuinely wealthy people are less flash. They don’t feel the need to post whatever new car they’ve just bought, or the latest expensive gadget on their Instagram. They don’t have that need to impress.

How would you know the were properly wealthy and not property rich, cash poor? I mean it’s not like they’d be showing you their bank statements. Maybe they have a online gambling addiction gobbling up those cash reserves - who knows?

TodayInahurry · 07/12/2022 07:43

There are many wealthy people around, I meet quite few. Some are very nice and have expensive things, children in private schools, flat in Chelsea etc. some are not at all nice and treat others who are not rich as servants. The most wealthy person I have encountered is a multi billionaire, looks scruffy, dives an ordinary car, owns multiple properties in the UK and abroad and has a private jet.

AnotherLogOnTheFire · 07/12/2022 07:44

YoBeaches · 07/12/2022 07:04

Household income of £60k isn't top ten percent when it feeds a family. An individual on 60 just for themselves would be, but for a family of 3 or 4 it's average salad circa 40th percent

The gap between high earners and the wealthy is significant. The top 1% are earning average £3.6m per year and those at top 5% are at 80k.

I don’t think the top 1% are earning £3.6million a year, I think you need to check your sources and get back to us.

AnotherLogOnTheFire · 07/12/2022 07:46

TodayInahurry · 07/12/2022 07:43

There are many wealthy people around, I meet quite few. Some are very nice and have expensive things, children in private schools, flat in Chelsea etc. some are not at all nice and treat others who are not rich as servants. The most wealthy person I have encountered is a multi billionaire, looks scruffy, dives an ordinary car, owns multiple properties in the UK and abroad and has a private jet.

The most wealthy person I have encountered is a multi billionaire, looks scruffy, dives an ordinary car, owns multiple properties in the UK and abroad and has a private jet. And talk enough about their wealth for you to know this detail.

Fragrantandfoolish · 07/12/2022 07:50

Top 1 percent is about 180 grand.

AnotherLogOnTheFire · 07/12/2022 07:50

Nottodaysausage · 07/12/2022 06:39

I think the give away is in the knitwear 😁
The way 80 / 100 percent cashmere or wool feels and sits is completely different, as well as requiring the correct care or dry cleaning.
That's how I usually decide whether a person has a few quid stashed away 🤣

I only wear cashmere and I seriously doubt anyone has noticed. It’s bobbly as hell and can look very scruffy if not tended to. It really isn’t that obvious.

Rubyupbeat · 07/12/2022 08:20

My next door neighbour is very wealthy, her house is worth over 6 mill, her car is an 18 year old micra, held together by tape (bit of an exaggeration) her winter waterproof coat is over 20 years old and she wears t shirts that are ancient. Shes not mean in the least, shes into technology and has the latest TVs, ipads, laptops etc, a huge art studio....as these are important to her.
Anyone seeing her out and about would feel sorry for this poor looking elderly lady, she doesnt give a shit, as appearances are low on her list of things that make her happy.

Horsesandzebras · 07/12/2022 08:23

Ariela · 06/12/2022 20:48

My friend looks wealthy. it's just the aura she gives off. She adds a bit of lippy or a scarf or a cheap necklace (usually from a charity shop) to finish off every outfit, but I think the key is a) she always has her hair neat and tidy even though she swears she trims it herself b) she always has polished shoes or boots (and I know some pairs are really old I've coveted a deep purple pair of boots I know she's had for 14 years) c) although she drives an old car it's always clean inside and out and has what could be a personalised plate the 5 could be an S d) her house is always tidy and welcoming and she always has kettle on and cake available - although her secret here is people get wafted into the kitchen (largish room with big table and a sofa) as quite often her lounge is untidy, and she always has a flowering pot plant or fresh cut flowers from the garden in the kitchen (currently an amazing orchid).

This lady has class and you can't buy that

RosesAndHellebores · 07/12/2022 08:26

What the op is describing sounds flash rather than wealthy to me.

socialmedia23 · 07/12/2022 08:48

Fragrantandfoolish · 07/12/2022 06:36

Did you write this wrong, top ten percent is not remotely wealthy it’s 60 odd grand a year, very few people consider this Wealthy . It would be lovely if British wages were such that the top ten were wealthy, but it’s not the case.

I think this is the issue on rhe thread, the definition of wealthy , some people are classing themselves as wealthy when they are not. And that’s why they are running around in Tesco jeans and driving low cost old cars.

Show quote history

Its 100k household income to be in the top 10%. DH and I are in that income bracket (in London). We own a modest 2 bed flat in suburban London and don't have a car! I would classify us as 'just about managing' which is fortunate in this climate.

Liorae · 07/12/2022 08:48

AnotherLogOnTheFire · 07/12/2022 07:46

The most wealthy person I have encountered is a multi billionaire, looks scruffy, dives an ordinary car, owns multiple properties in the UK and abroad and has a private jet. And talk enough about their wealth for you to know this detail.

Show quote history

🤣🤣🤣

BlueKaftan · 07/12/2022 08:52

I was just in Florida and was shocked by how many people have expensive and massive trucks outside crummy little houses.

socialmedia23 · 07/12/2022 08:56

Feelallright · 07/12/2022 06:50

Of course it’s wealthy. It might not be mega wealthy but it’s definitely wealthy. Top 10% on or above 60k is wealthy. That’s why it’s the top 10%.

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how can it be. DH and myself combined household income is top 10%, we earn combined 100k. and we own a modest suburban flat in london. Unless you are accounting for regional differences- top 10% in london would probably be 250k combined income easily (though most of the top earners aren't employees but own assets or have their own company)

How can that be wealthy? My parents are wealthy, they own multiple commercial properties and live in a house worth at least £5 million mortgage free and sent me abroad to study. And they are not even considered mega rich in their home country (but they are probably considered rich by uk standards).

Fragrantandfoolish · 07/12/2022 08:56

socialmedia23 · 07/12/2022 08:48

Its 100k household income to be in the top 10%. DH and I are in that income bracket (in London). We own a modest 2 bed flat in suburban London and don't have a car! I would classify us as 'just about managing' which is fortunate in this climate.

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Office of Nat stats says 65.

MintJulia · 07/12/2022 09:00

My ex was a dreadful one for worrying about appearances. He nagged me to get rid of my perfectly reliable car because it was 7 years old 😱 When the neighbours had a new fence, he went to Wickes the same day and got a quote for me to buy a new one (£1700) and couldn't understand why I wasn't interested. He worried that my sound system wasn't integrated through all rooms. This was a house he didn't even live in. It was too much in the end, and very boring.

I buy good quality and use things until they break or wear out. I maintain my house but couldn't care less about bling. What the neighbours think is completely irrelevant to me, unless it's causing someone a legitimate problem.

But I suppose the image worriers keep the economy going. Each to their own.

Newmumatlast · 07/12/2022 09:02

CruCru · 06/12/2022 17:13

Honestly? If you really are rich, it’s so much easier to not look it. Having lots of money tucked away removes the insecurity around what others think of you.

Agree. There's a lot of freedom in actually being wealthy. It doesn't matter what you look like as you don't need to look a certain way to prove yourself to gain access to things your money gives you access to. It is a lot easier to take people's criticisms when you know you're financially secure

shivawn · 07/12/2022 09:04

I don't care what people spend their money on,.I wouldn't notice if people were wearing designer clothes or what phones they have. You should really judgemental and a bit insecure to be honest.

bloodyeverlastinghell · 07/12/2022 09:09

If I was trying to look wealthy I wouldn’t be aiming for insta style look. I’d aim for groomed, glossy hair, nice nails but short not long, subtle make up, expensive watch, subtle but expensive jewellery, clothes in expensive fabrics but without logos or brand names plastered across them. I’m not wealthy, I’m skint but I can pull it off.

I suppose it depends what you mean by wealth as well. I have assets so my net worth would be maybe 500k ish most of that a house minus mortgage higher than average I think. My disposable income is lower than most though.

Windingdown · 07/12/2022 10:09

I've retired early and people seem to think I must have a lot of money. I don't. I just spend very little. I watch my friends spend on holidays, phones, clothes, latest furniture, cars etc and then moan like mad about going to work and counting the days until they retire. If you don't care about looking or being wealthy you don't need to be wealthy.

.

Mouse82 · 07/12/2022 10:15

I have family members who are wealthy, but you wouldn't know it looking at them.