100k+ salary, is it worth it?

[Goingtogetslated]

For the record…Not trying to be insensitive…

partner and I both earn approx 150k each. Working long and unpredictable hours with high levels of stress and responsibility.

Yet here we are living in a 3 bed terrace in the east end of london, a basic car, neither of us into high end expenses/dining out/clothes. We used to holiday a lot pre children, I guess would classify as our major expenditure in the past.

But is it actually worth it? A decent 4/5 bed house (with kerb appeal I admit) in the commuter belt seems to be coming in at 1.5 million minimum. Add the commuting costs/ extended nursery hours, paid help required theres barely anything left - relatively speaking.

Would we not be better off sacking it all in, moving to the countryside and earning enough to pay the bills?

We appear to be stuck in this middle ground where we earn too much to have any allowances from the state, contribute a lot to the government yet not enough for any real benefits in lifestyle

👏🏻 Absolutely this. 👆🏻

I once wrote about earnings on here 20 years ago and I got so much trouble I changed my name. Times dont change. My advice to you is that you only have one life to live, live it how you want to live it and do what makes you happy. Decide what that happy is and stick with it. You don’t know what is around the corner health-wise. If you are asking this question on Mumsnet then I think you already know the answer. Good luck with whatever you decide.

@TheThinkingGoblin

The uk feels like it's sinking because the govt does fuck all to address the root causes of poverty and wealth inequality

Not because those at the top have to pay a decent amount of tax

Now and again these sort of threads pop up. It’s actually embarrassing reading them. I can’t believe someone with a combined income of 300k is moaning about money. Try living of 10.75ph and then come back and have a moan!!

PS Waltham Abbey has no station and the nearest station is the sort you wouldn’t want to leave your car in the carpark.

I would say it depends on how much you value space inside and outside of home. If you can work from home a considerable amount of time, moving "to the country" could make a lot of sense. Physical space brings physical freedom - which is amazing for younger kids, but then you have to think about the teenage years, social isolation etc, distance from theatres and music venues etc. There's a lot to consider, but I do get your general point. We moved way outside of a big city but close to two sizeable towns to gain a dream house, and I do enjoy it now - but eldest is only 10.

The city wage in the rural location is the win win.

No it's not worth it.

You should move away from London and the absolute monotonous bs that people think of as life there (speaking as an ex Londoner) and find a better life with more time, more space, more greenery and probably more disposable income too.

Myself and dh were laughing the other day that there's an ISLAND for sale off Ireland that costs a third of a price of most 3 bed houses in my mum's area (Ireland). He then told me how much his friend pays in rent in London. I love the city but my god if you don't adore every single thing about where you live and how you live you definitely need to change it, but maybe not before finding away to put aside a huge chunk of money as a cushion.

And all the people saying to check your privledge-you can say that about anyone, nowadays if you can afford to live at all you're lucky, I was talking to my sister the other day and she hadn't told us she went all winter with just her fire, no other heating and both of them work and they have four kids. I threw my foot in it by saying I remembered a few years ago when we went a month with no heating because we couldn't afford the minimum spend and then my mum paid for heating because she found damp.

I´d say it is not really about how much you earn but what you do with it.
Set out some goals to live a more minimalistic lifestyle that gives you more time with your kids and to do things you love.

• try watching minimalism videos that teach you how to live with less, it will also give you more space in your house.

-Find a local charity where you can give (giving bring more happiness than people know) -If you two can work from home, move to a neighborhood further from the city. -Practice gratitude. Try to think of things you take for granted and write them on a paper and put them in different places in your house. Gratefulness is known to produce happiness.

I am an educated woman, full time manager, mom of 1, I have a Bachelors and a Posgrad, speak five languages and only make 850 dollars a month (I live in a third world country) I get to pay rent and groceries and try to save at least 50 dollars per month. My dream is to one day own a house, I know it is impossible with my current situation but Im content that I have a job, my daughter has enough to eat and even some toys and I get to take her to a playground in the neighborhood after she comes out of daycare. I am thankful I have warm water and electricity and that I get to watch a movie on the weekend with my daughter on the couch. Those small things are priceless.

I wish you well in life!

You are wasting your time on here. Full of people who want everyone else to work hard and share their earnings. There is a name for that.

The really wealthy people do not pay income tax because they do not get paid via PAYE.

Thats the point you are missing.

The really wealthy structure their pay via capital and dividends, and not income, thus they pay in far less tax.

What is happening now is that the higher INCOME earners that go through PAYE (have actual jobs) are being crushed by taxes to fund everybody else while the wealthy watch from the sidelines.

Thats why it feels like work doesn't pay in the UK for higher earners.

Also, make no mistake: those folks will emigrate to places like Australia, Canada, NZ, Singapore if you keep this up.

And then what?

You will be even poorer with worse services.

ps can you not move and commute to your current jobs? (sorry if I missed the answer to this!)

Would we not be better off sacking it all in, moving to the countryside and earning enough to pay the bills?

Not thanks. We're struggling here in the countryside as it is, with tourism inflating prices without having to cope with even more house price rises.

On £300k a year a £1.5m home is affordable. Far more affordable than an average £300k house is to an average earner. This post has got to be a joke

I understand what you’re saying OP. A lot of sacrifices need to be made to be in the top 1% income bracket and you’re wondering if it’s worth it. I question this all the time.

London life is hard. If you are only just in the top 1% then after housing and childcare costs you certainly don’t feel as wealthy as you think you should on your salary levels.

Unlike many who are struggling right now, the struggle you are making is a choice. You are choosing to have all this stress and anxiety for a career that pays very well. So of course at times you question whether this is the right choice and whether you feel you receive enough financial or other benefit to justify the sacrifices. Would life be easier and simpler if you were to move to a cheaper area and earn more middling incomes? It’s right to question it.

I don’t have any answers for you as I often find myself wondering the same thing. If you find the answer, let me know!

I honestly think you could have a better lifestyle if you moved out of London. You’d not be paying so much for your house, for a start. It doesn’t matter to a certain extent what someone earns - the important bit is how much disposable you have each month. I live in Surrey, so easy to get to London if you need to. It’s not the same as living in a big city as you can imagine; a lot quieter but I like it that way. I bought my 3 bed semi-detached house for £195,000 back in 2010 -things have changed a bit now of course but with a London postcode you’re always going to be paying A LOT for the equivalent there.

So I would say, yes, explore moving out of London.

@TheThinkingGoblin is also right in what she says here: The productive working folks are being taxed into oblivion to pay for a sicker and ageing population. This is true - tax is gonna be crazy money on your salaries. So I do get where you’re coming from.

At the end of the day pretty much everything you do -or don’t do - is a lifestyle choice. Sometimes you realise that money isn’t as valuable in and of itself as you first thought. It’s what you do with it - your lifestyle choices - that give it value & if you feel that you need to make it talk more for you then adjust accordingly

@TheThinkingGoblin

Yeah the old doff your cap or they'll take their ball away myth has been debunked

And, yes, I know the super rich are most at fault.

But those on 300k etc really shouldn't be whinging about having to pay tax either

My DH and I found our lifestyle and house not that different to our friends who earned a third of our income. The big difference has been we’ve been able to retire really early with a very decent standard of living.

I do understand that most people will not care or pay attention.

But those same people do rely on public services.

And those public services will get worse if the tax situation does not improve.

So I assume they will care about having access to the NHS since they would not be able to afford private healthcare.

It is worth saying that if the situation continues, the NHS will fracture and many of the complainers will not be able to access affordable healthcare via the NHS.

@TheThinkingGoblin

You know the nhs is fucked anyway, right?

I’m afraid that jealousy has once again prevented people from understanding what you are trying to ask. I’m on full tax credits and I get what you’re saying.

I don’t know if you’ve mentioned having much equity in your current house. Surely even though your job is niche you can earn a reasonable amount in a different job? I’d move up north. Can you work from home some of the time? What if you moved near to somewhere near Wakefield for example? Then you could still travel in occasionally. It’s 2 hrs 11 mins. Or your DH could travel in and you could do a more normal job.

This has been posted multiple times. You’re spot on, many don’t understand this.

@Lostinalibrary

You know that everyone pays tax?

And working hard is not reserved for higher earners?

In fact, I'd say the more you earn, the less likely you actually work hard

In fact, I'd say the more you earn, the less likely you actually work hard

Hmmmmm…….. what an odd statement