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AIBU?

AIBU to think most people have no idea how wealthy people live their lives?

1000 replies

AnneValentine · 28/01/2024 07:38

Just that really off the back of a lot of threads but most recently one where multiple people were adamant that the only way it’s possible to have no savings if you have salaries of £200k plus unless one of the couple is squirrelling savings.

Followed up with how do they pay for a broken down car with savings? Hasn’t even dawned on them that people on those salaries don’t have cars that are breaking down.

Is it so hard to believe that money literally eliminates money worries? That you can create a level of security that means savings and such aren’t needed?

OP posts:
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Am I being unreasonable?

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MyTeethLookShit · 28/01/2024 19:29

I think we are what you mean in that we have pretty high monthly income. Pensions. Two properties, ISAs, ISAs for our kids. We don't have a "rainy day fund" if that's what you mean. If a rainy day came we would have to sell assets, shares etc. It would be quite unlikely to happen to both of us at the same time and we would be fine with one or other of our incomes. While we are both working we can afford to fix most problems from our pay cheques, just means we have less to put into ISAs or wherever.

however YABU to not think that investments are just the same thing as savings. What does it matter? It's the same thing. It's basically not living from paycheque to paycheque.

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AnneValentine · 28/01/2024 19:30

Hmmmmaybe · 28/01/2024 19:27

He personally could still get made redundant though OP - the role has to be done sure - but there are all different types of corporate restructuring that can be done to get a role made redundant. If they ever wanted him out he could be out.

the role may be essential- your husband doing the role is not

Literally no they cannot. Legalisation requires his actual role, they cannot repackage it as something else because the law requires it exists. Redundancy is not an option. You cannot make people redundant, only positions. People in those positions obviously, but it’s the position not the people. You don’t sit there and say “let’s boot Bob”. You say surplus account managers. Let’s make 3 redundant and then follow a consultation process.

OP posts:
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AnneValentine · 28/01/2024 19:31

MyTeethLookShit · 28/01/2024 19:29

I think we are what you mean in that we have pretty high monthly income. Pensions. Two properties, ISAs, ISAs for our kids. We don't have a "rainy day fund" if that's what you mean. If a rainy day came we would have to sell assets, shares etc. It would be quite unlikely to happen to both of us at the same time and we would be fine with one or other of our incomes. While we are both working we can afford to fix most problems from our pay cheques, just means we have less to put into ISAs or wherever.

however YABU to not think that investments are just the same thing as savings. What does it matter? It's the same thing. It's basically not living from paycheque to paycheque.

For me it’s the difference of immediate access and risk involved. But I do get some people don’t agree with that distinction.

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Hmmmmaybe · 28/01/2024 19:32

OP I think you vastly underestimate how much other people know and VASTLY overestimate Hr you know

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indigoskies · 28/01/2024 19:33

OP. I don't think many people on Morphine in hospital would think - "Oh I know, I'll go on MN and tell everyone how much money I have, under the guise of some weird semantics about what constitutes 'savings' and what does not.'

This is the internet and there will obviously be people on here from all walks of life - including those who have a lot more wealth than you. It's all a bit of a joke and a bit naff to give specifics of what you spend on this and that. Would you do this in real life?

Basically, you are talking about disposable income. Some people may think of this as their 'savings' - so what. People may have all kinds of accounts. Many on here will also have investment portfolios, property, other types of investments that pay passive incomes, shares, stocks, bank accounts overseas, City Index accounts, trust funds - you name it. All sorts. This is obvious. What does it matter to you? Nobody else is specifying because it's a bit crass and daft.

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ArmsofMine · 28/01/2024 19:33

Do you ever worry about him
getting ill or dying, what would you do?

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redxlondon · 28/01/2024 19:34

AnneValentine · 28/01/2024 19:25

Don’t you like people who raise money for schools that your kids benefit from?

Nope.

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AnneValentine · 28/01/2024 19:35

ArmsofMine · 28/01/2024 19:33

Do you ever worry about him
getting ill or dying, what would you do?

He’s insured.

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AnneValentine · 28/01/2024 19:36

redxlondon · 28/01/2024 19:34

Nope.

Oh well, I’m still glad to help your kid. They need it.

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Iamacatslave · 28/01/2024 19:36

@indigoskies well said.

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spriots · 28/01/2024 19:36

So your investments aren't immediate access enough to qualify as savings

And your current account is .. too immediately accessible to count as savings?

It's a bit Goldilocks basically

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ManchesterBea · 28/01/2024 19:41

spriots · 28/01/2024 19:36

So your investments aren't immediate access enough to qualify as savings

And your current account is .. too immediately accessible to count as savings?

It's a bit Goldilocks basically

🤣 Love this

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Fanlover1122 · 28/01/2024 19:44

AnneValentine · 28/01/2024 19:00

I’m talking about my husbands position specifically. They aren’t. It’s not a position you can make redundant.

If he is a partner in a law firm/ accountancy firm etx - yeah he can’t be made redundant, but he can be kicked out.......happens. A lot. And given your monthly income is only 13 k and that counts for your salary and your investment income I can’t imagine he is actually a partner - unless it’s a piddly firm and a City NQ is on more 🤣

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Fanlover1122 · 28/01/2024 19:48

AnneValentine · 28/01/2024 19:30

Literally no they cannot. Legalisation requires his actual role, they cannot repackage it as something else because the law requires it exists. Redundancy is not an option. You cannot make people redundant, only positions. People in those positions obviously, but it’s the position not the people. You don’t sit there and say “let’s boot Bob”. You say surplus account managers. Let’s make 3 redundant and then follow a consultation process.

Now I know OP is the most naive person....don’t make people redundant.....🤣. That is so funny! of course that happens. The scoring can be skewed as well as the whole process. Believe me with good lawyers, following the legal requirements that is exactly what happens.

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CakedUpHigh · 28/01/2024 19:48

AnneValentine · 28/01/2024 18:30

The salary is the main source because why would we take an income from investments if we don’t need to? It’s much like rental from flat. We don’t touch.

If husband or I chose to stop working that would change, we would start taking an income.

To me saving is money ring fenced, that you don’t touch unless there’s an emergency. It’s not our month to month spending money.

"The salary is the main source because why would we take an income from investments if we don’t need to? It’s much like rental from flat. We don’t touch."

So you're saving it...?

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Fanlover1122 · 28/01/2024 19:50

CakedUpHigh · 28/01/2024 19:48

"The salary is the main source because why would we take an income from investments if we don’t need to? It’s much like rental from flat. We don’t touch."

So you're saving it...?

🤣🤣🤣🤣🤣🤣🤣🤣, no - the OP doesn’t save. She invests - follow the thread!

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AnneValentine · 28/01/2024 19:51

Fanlover1122 · 28/01/2024 19:44

If he is a partner in a law firm/ accountancy firm etx - yeah he can’t be made redundant, but he can be kicked out.......happens. A lot. And given your monthly income is only 13 k and that counts for your salary and your investment income I can’t imagine he is actually a partner - unless it’s a piddly firm and a City NQ is on more 🤣

He isn’t either of those things.

And the £13k doesn’t include investment income, as I’ve said we don’t draw an income. It’s all reinvested at this stage.

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AnneValentine · 28/01/2024 19:53

Fanlover1122 · 28/01/2024 19:48

Now I know OP is the most naive person....don’t make people redundant.....🤣. That is so funny! of course that happens. The scoring can be skewed as well as the whole process. Believe me with good lawyers, following the legal requirements that is exactly what happens.

Sigh, you can’t make a position redundant that is legally required. As a result you cannot make him redundant. He would have to be fired or managed out. Which is not redundant.

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Fanlover1122 · 28/01/2024 19:54

AnneValentine · 28/01/2024 19:53

Sigh, you can’t make a position redundant that is legally required. As a result you cannot make him redundant. He would have to be fired or managed out. Which is not redundant.

Now that is semantics.

again you have contradicted yourself - you have previously said that the 13k is not solely earned income....... 🤣🤣🤣

please come back next week, same day, same time - new thread for the bants.

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BobnLen · 28/01/2024 19:56

Not far to go now

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AnneValentine · 28/01/2024 19:57

Fanlover1122 · 28/01/2024 19:54

Now that is semantics.

again you have contradicted yourself - you have previously said that the 13k is not solely earned income....... 🤣🤣🤣

please come back next week, same day, same time - new thread for the bants.

No, that is not. Redundant and fired are VERY different things.

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ChazsBrilliantAttitude · 28/01/2024 19:59

I love the redundancy semantics too. I’ve seen plenty of people who hold an SMF (Senior Management Function) designation be managed out sometimes quite abruptly. The role remains but the occupants change.

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Teriyakieverything · 28/01/2024 19:59

How the other half lives…well that was vaguely entertaining.

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Alcyoneus · 28/01/2024 20:04

OP still doesn’t have the response she wants. For people to tell her how supremely wealthy she is. So she’ll keep going. And going. And going. And will keep coming with more and more bs in the process.

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Fanlover1122 · 28/01/2024 20:07

ChazsBrilliantAttitude · 28/01/2024 19:59

I love the redundancy semantics too. I’ve seen plenty of people who hold an SMF (Senior Management Function) designation be managed out sometimes quite abruptly. The role remains but the occupants change.

Yip - seen it for the 20 years I have been working in the City.....

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