Where is your household income?

[RoyGBivisacolorfulman]

https://ifs.org.uk/toolsanddresources/wheredooyoufitt_in#tool-results-section

AIBU to think this doesn't reflect society as a whole as there is a lot of wealth especially in business that may not get classed as income?

People I know are in the top 5 percent.

The illustratous 85k that has been talked about on here is

With a household after tax income of £84954 per week, you have a higher income than around 99% of the population - equivalent to about 65.3 million individuals.

Guess people are property and inheritance rich too.

My aunts and uncles are way richer than me but my income looks better on paper. They are retired with lots of property.

Where do you feature on the scale? Clearly nobody has to answer.

It's not the whole picture far from it I think?

Well I never knew that! I always assumed the lender repossessed

You own four properties and have enough money to send a child to private school. For many, if not most, either of those things are a complete impossibility. It is a complete insult to those that are genuinely in poverty for you to say you feel like you don't have enough money. You can have worries of course, I'm not suggesting your life is perfect. But you're certainly not short of money.

I'm not attempting to start a race to the bottom. DH and I are quite comfortable. But please reconsider the definition of 'not having enough money'.

@Emotionalstorm did you not have to pay any CGT on the properties you inherited?

I apparently have an income higher that 81% of the country. Not really sure about that as im on benefits.

It’s a blunt tool but I think blunt is the only way you can do this type of thing, cause everything beyond income and council tax is lifestyle. How much we spend on food, utilities, cars, treats…that’s all based on how we choose to live. Someone could have nothing left at the end of the month cause they spend it all on an flash lifestyle…while someone could earn half what they do and save more cause the are frugal. But the person with the flash lifestyle may be building up assets that far outstrip the poorer family, despite feeling like they have nothing left and must therefore be struggling.

No there is a tax free uplift of the base cost to marker value on Granny's death. This is because IHT is paid on its market value at death so there would be a double tax charge otherwise.

Noted we have more money and are luckier than most people but because of health issues we are always anxious about the level of our savings.

Market*

I assumed it was inheritance as even a high income won't allow for all those properties particularly some mortgage free. It's baffling though that you don't think you have enough! Surely the properties are at least a minimum of 1.5m!

She was on another thread the other day saying they weren’t sure they were ready for children and she would “start to save”
for private school…

Higher than around 87% of the popularism apparently, my husband never believes me when I do this!

Population 🙄

I had my daughter when I was 27. I didn't feel particularly ready, no. I was renting at the time and my husband and I worked very long hours and got home after midnight on many days. I also did not like housework and did not think I had strong maternal instincts. I've learned a lot since then and I've received a lot of help from my parents.

You were renting 3 years ago but now own 4 properties?
You were on the readiness thread and made it sound like you weren’t ready for children because you said you couldn’t afford childcare so wanted to see whether you mum could have the child for you?

And yeah we have enough to get her started but private school probably costs £250k over the educational lifetime of my daughter. I don't have that amount just sitting in my bank right now so we will need to spend less in other areas.

I think my feeling of financial insecurity comes from the fact that I have a chronic illness that could stop me from working at any point in the future if it flares up. My husband's job is so stressful that he once thought he was having a heart attack and we had to call an ambulance. It turned out his heart rate doubled and his chest was painful because of stress. I don't see him being able to work till the age of 67. Also we could only have what we have because of help from my mum and dad so I want to be able to do the same for my daughter. You want your kids to lead a better life than you not worse.

But you're already mortgage free with 3 other properties, you don't have to be tied to stressful jobs & your dd is not going to do without in any way.

I know that the housing market issues will not be fixed so my daughter will be renting when she's older unless we help.

The housing market is an inheritancracy; you can sell a house to help your dd with a deposit &/or she can live at home to save surely?

I assume you navigated around IHT?

Yes since then I have gotten married and received a house and an inheritance. Although I made enough to pay for a nanny, I didn't really want to spend all my salary on one so in order to persuade me to keep the baby my mum offered to take care of my daughter for me while I work 4 days a week.

Yes I think you have put it into perspective. I am aware of this too but I can't stop worrying.

I would sell one or 2 of your properties so your DH can take a step back. Suspected heart attack at 32 is terrible and you say yourself how stressful his job is.

Yes, I was confused CGT is only a thing when you sell.

@Emotionalstorm but where do your parents live now?

It sounds stupid but I didn't think of that. I guess my husband would never ask me to either. I will discuss this with my husband thank you. I am very worried about him at the moment. He needs to go on stress leave because I feel like he's working himself into an early grave.

Suspected heart attack at 32 is terrible and you say yourself how stressful his job is.

That's scary, I would certainly look at scaling back if possible

They moved to Vancouver to take care of my grandpa and also spend more time with their siblings.