To think they are ‘𝘳𝘪𝘤𝘩’

[HansBanan]

Okay, I know it's subjective but I'm some what bored of my in-laws down playing this.
My SIL is 28, well educated, 2 children, lives in London. She's married, husband is about 40, a little older maybe, a high earner (250k ish - chief investment officer for a wealth management company).
They are mortgage free, in a large beautiful house (I'm not sure of the logistics of how this is the case but know they are). 1 car, owned outright. They have credit cards but I'm sure they pay them off monthly and mainly use them for the benefits and rewards.
Their children are young so not school age yet, but it's very clearly they sill be privately educated. I'm not sure how much the bonus her husband receives would be but let's assume it's anywhere between 25k - 125k depending on the firm.
They holiday several times a year, almost always business class.

AIBU to think that is ‘𝘳𝘪𝘤𝘩’? My in-laws are all insisting that in London this is just comfortable but I don't buy it! Especially not with their mortgage free home!
I know it's not my business but it irks me

Sounds pretty rich to me.

I wouls say they are rich but not sure why the label matters. They're family. Comfortable, rich, who cares?

Yes they are rich. That's way more than comfortable.

I would say me and my friends who live in south east London are ‘comfortable.’
salaries around 50k (where only one person in the household works)- a few couples on about 75k total.
definitely no private schooling considered, a couple of holidays a year, mostly Uk.

your SIL is definitely rich.

It doesn't necessarily, but my in-laws like to brand it like we are in the same boat, when we absolutely are not and it's somewhat insulting to get "they manage it" comments like we can be compared at all.

Very well off I'd say...

Vast vast majority of people in London won't be earning anywhere near that much...let alone be mortgage free. It's such a myth that you have to be some sort of millionaire to live in London

Yes they are rich. Not “super rich” but still yes no denying they are rich

To be honest, I’d consider most who are mortgage-free to be pretty rich! A generalisation of course but I would love not to have to stress about paying a mortgage or rent every month.

And it matters because?

Well I think “comfortable” is absolutely bollocks! £250K pa at least and mortgage free is well above comfortable 🤣

But rich is a term I personally use about footballers, pop stars and Russian oligarchs!

So I’d call them wealthy or very wealthy.

But I wouldn’t argue with someone else over it, because everyone has different meanings.

Just why are you talking about it with her parents so often that you’re bored of them saying it? If they’re downplaying it (which is quite common) then I’m surprised they’re bringing it up often enough for you to be bored.

it's a lovely big fat salary but it doesn't quite tally with having a large mortgage free London home, multiple holidays a year flying business class, and the upcoming cost of two sets of private school fees.

What’s the back story is it envy or do your in-laws not know your financial situation? This is your husbands family. Why are you posting about their finances like this?

In what way are they comparing you?

Is anyone else posting to find out how you get italics in a thread title?

It comes up in terms of
"SIL can privately educate her children why can't you"
"SILs children frequently wear outfits totalling over £500 why can't you"
"SILs girls had these lovely Ralph Lauren dresses for Christmas you should have got one for DD so they matched"
"SIL is travelling business for cousins wedding you should do the same"
When I say we make less we can't afford it, it's all "oh but they have to battle London pricing they are only just comfortable".

Why are you constantly talking with your in-laws about your SIL’s and her husbands personal finances?

Find a different topic of conversation.

I think I would class them as “very well off”. Whereas to my mind “rich” would be family office, jet, probably £100M+

so:
“well off” = holidays several times a year in business class
”rich” = holidays whenever they want to by jet to private island or super-yacht

Who do you mean by ‘in laws’? SIL and BIL or your PIL?

I don’t know why you’re having money discussions with them anyway?

Do they start the conversation about it or do you?

It easily could. Her husband is 40+ (and yes, I’m wondering what the young woman in her 20s saw in the 12+ years older man… 🤣). If he’s a saver who banked 10 years of £125K bonuses, he could have a huge amount now.
And or the house might have been bought years ago from an inheritance, with a trust fund for school fees from the same inheritance. But even without all that, a £250K salary plus potentially half as much again as a bonus easily buys a few business class holiday a year!

Depends on your reference point but I’d not consider it rich. Has a reasonable amount of disposable income by the sounds of things but far from rich.

I believe the home is a gift from a relative on his side of left to them by someone who died. I don't know the exact story but I know they got it about a year before they got married and had to get a lot of work done on it. They didn't move in until they got back from honeymoon.
I believe he then sold his house shift he'd been living in, paid of what was left on the mortgage and left them either a large lump sum to play with ... I imagine they've invested this and are getting returns from it.

Yes they are rich. Not Richey Rich rich, but rich nonetheless.

I need to know how you got italics in the title please @HansBanan ??

Like I've said I'm not it just keeps getting brought up!

Of course it's rich.

The average wage in London is around £45,000.
Expenses for a single person range from £31,000 to £36,000 per year, while expenses for a family of four range from £44,000 to £89,000 per year.

The husband, with his bonus, is potentially earning 3 times the upper expense range, with no major monthly outgoings.

They are rich.