Do you consider this ‘wealthy’?

[haleeeee]

Two kids in private school since primary. Two buy to let’s of around 250k value each. One holiday home value 280k. Own home mortgage free. Income allows for a few holidays a year circa 3k each time.

Wealthy? Well off? Or just better than average?

Such an articulate and concise way of putting it. Absolutely this.

That’s why they are wealthy! SIL obsessed with saving every penny and they have similar assets. When I listen to the lengths they go to save money it’s exhausting and I’m surprised she has time to think about anything else.

Well off until you said the rentals are 50% ltv so might not be providing a monthly income. Comfortable. Definitely not wealthy.

Wealthy

And the £3000 holidays several times a year and kids in private school? If they can afford those things they are wealthy. Not super rich. But wealthy.

I'd say comfortable

Wealthy.

Comfortable
Not wealthy at all imo.

Yes and there are some people in poor countries who are genuinely starving but I don't see someone's language being policed when they announces they are "starving" just before lunch.
Is there an official somewhere who determines whether someone is "genuinely struggling" before we are allowed to use this word? Or do we accept that people may struggle in different ways and in different circumstances? Ot even feel like they are struggling if they have to make decisions they otherwise wouldn't have made (like selling a house).
It's like saying to someone "you shouldn't be depressed. Other people have it much harder than you". It's just not done, is it?
Struggling - striving to achieve or attain something in the face of difficulty or resistance. That "something" looks different for different people. I am struggling to run an 8 minute mile. Does existence of wheelchair users mean I am not allowed to say it?

I know many people who can afford those things and they are not wealthy.

The family described are accumulating wealth but they aren't wealthy yet. Each rental may only be generating a few hundred pounds a month profit. That's not going to cover the school fees.

£10k per year on holidays isn't struggling.
Maybe SIL should get a job then they could have an ice cream.

Very comfortable, but personally I wouldn't say wealthy, that's another category altogether if you ask me.

And as another pp said, people who can control their spending to just spend on what they really believe is worth their money, are the ones who start to accumulate money.

Obviously this isn't possible if you are on the lowest of budgets, but if you choose to live like you are on the lowest of budgets, even when you aren't then you can save.

Often people say they can't afford something, when they actually mean they choose to not spend their money on something because they don't think it's worth it.
It's more socially acceptable because otherwise it appears you are casting judgement on the choices of others, however it can be annoying to those who really cannot afford things in the real sense of the term. They feel that these people are "pretending" to be poor. But it's generally just a way to quickly deter others from prying, and will guarantee that people won't try and pressure them into spending what they don't want.

Expecting people to pay for dessert as they are poor,but still affording several expensive holidays a year?

Fuck off.

Lots of people work hard for minimum wage. Lots of people work hard for carers allowance. And "owning property" as a means of income is the opposite of working hard.

Definitely wealthy. I'd consider somebody with two kids in private school and managing a mortgage to be very well off, let along with multiple properties as well. It's not a criticism, happy for you that you're doing well.

If their two rentals are 50% mortgaged they may not be making much profit on the lettings so perhaps would be better off selling them.

As to whether they are "wealthy" there isn't a defined term for it. They are obviously better off than many people their age (we tend to have to by age as most people start off with not much, have children (very expensive) and pay off a mortgage over 30 years - I paid off mine last year having taken the first out 40 years ago - so tend to be a bit better off when older IF but only if they don't have rent to pay.. I would say I was "well off" rather than wealthy and have no pension other than state if I reach that age and starting to get a few savings but only because after 40 years this is the first year I am not supporting children other than those who live rent free at home but those two buy their own food so I am not even paying for their food now.

Incredibly wealthy, obviously. Easily in the top 5%.

Seriously wealthy and scummy to boot.

Pretty typical Tory Tight Bastards pleading poverty and expecting others to subsidise them so they can carry on enjoying the high life at someone else’s expense.

Next time tell them to sell a kidney if they’re struggling to pay for dessert/the school fees.

Wealthy. But I bet they're claiming they'll have to take their kids out of private school due to the VAT increase.

If they need to sell something to manage or wife has to go back to work, they are not wealthy. The truly wealthy don’t do any of this. They don’t need to. They are comfortable but fiscal ups snd downs affect them. They don’t affect the wealthy.

I see your point, but they could just say, "we're struggling to pay for our luxuries," rather than imply they're struggling for bare survival, as so many in the UK are.

If you have to remove dc from private school, or even think about it, by definition, you are not wealthy. Wealthy people don’t have to think about it.

They own a holiday let and go on three different holidays a year around £3k each. They aren't struggling, they are spending what they earn.
If you spend money, you no longer have it. Struggling is working 9-12 hour shifts on shit wages and barely covering reasonable living expenses. I always say this but these threads show you can have a decent paying job, but be exceptionally thick.

They don't, because they have three properties with enough equity to sell.

They are doing well. Certainly clever that they have a diversity of property investments. However, hope it is not all in the same country. If they say they are struggling it is because they have seen things going up very quickly. Probably hard to pay the services now. Mortgages up as well. For private schools you need about £100k before tax for two kids annually at least in London.