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?

very wealthy.

Getting quite tired about all the vulgar boasting about money on Mumsnet.

Without knowing their actual income, I'd be hard-put to say. They may be wealthy, they may be well-off (very), or they may be what southerners in the USA would call "house-poor," have lots of stuff but almost no disposable income, and skating on the edge of financial collapse.

I’d say wealthy but then that depends on who you compare yourself to You would be classified as wealthy on the global wealth index .

I always feel sorry for these people because the performative “ struggling” means they don’t actually enjoy their wealth .
It must be like street theatre when the desert menu comes along😂look at all the celebrities on 10 million a film salaries selling their soul in cheesy ads for an extra buck or urging you to dig deep for those in need but not in my coffers Thank you and then we have the less glam polizos getting the freebies whilst telling us to buckle up its tough times ahead .
The headline “I am getting freebies too says the Chancellor “ as seen the newstand the other day . Its so ridiculous its almost comical.
I had a friend who would play poor just to blag off everyone she thought she was being clever 🤑
So although they could have earnt cause u know I am so worth it ! They need to read the bloody room in your presence. Its kind of a sly way of being smug.
Did you know they have support groups for Moneyrexia . I suggest you point them in that direction do ask if they can afford the fare 😉

If all their properties, apart from their own home, are mortgaged then they could be struggling with mortgages being relatively expensive at the moment (although I remember the days of the 15.4% loans!). And maybe they've paid for the holidays by credit card and have high repayments. Some people get into debt very easily while looking as if they're well off, and then find it difficult to adjust to what they should be spending. They're not really wealthy if these properties don't belong to them!

That is why they are wealthy - they like spending other people's money. Seem mean to me, don't treat them to dinner!

This. Do.you need to ask ? Of course this is wealthy.

Go and read the book rich dad poor dad.

They are wealthy. They own several income generating assets.

Whether they buy pudding or not is neither here nor there.

This annoys me.." I work hard for my money... " FFS most people from cleaners to bus drivers WORK HARD FOR THEIR MONEY...

People who are rich typically have lucky breaks.. from inheritances to buying assists at the "right time" ... And indeed I bet nearly all millionaires take advantage of others at some stage in their build up of their "portfolio" ..

Just because you are wealthy doesn't mean you work hard....

Véry well off. And you say they live frugal? That's how some people accumulate more money but not necessarily more joy-of-living 😊

Threads like these are so silly. You can't see their finances.

If they recently remortgaged BTLs may be loss making and being subsidised from income.

You don't indicate what his income is and SIL doesn't work...

Private school usually explains why people have no spare money despite a seemingly high disposal income, rather than meaning someone is rolling in cash...

Wealthy. And no humility whatsoever.

Comfortably off, yes. Wealthy, no.

It sounds like they are asset-rich, and are certainly generating income from their three non-dom properties, but who is to say that that particular income is not all used to pay school fees? They might not have any savings, for a start…
But - are their holiday and btl properties also fully owned? They might be paying mortgages on those, even though their main property is mortgage-free.
My house is worth close to 1m and we are mortgage-free, but since we A) bought the house when it was worth 90% less than it is today and B) I’m now the only one working (and our combined income and pension is not enough to purchase our house now at its current value), I wouldn’t assume that they are wealthy in the traditional sense of the word…

What I’ve found is wealthy people often feel they’re much worse off than they actually are, they just lack a sense of reality. If their kids are both in private school their social circle is likely wealthier than they are, giving them a sense of being poor.

They are struggling to keep up with their lifestyle, never said they struggle to pay bills...it's their choice to be penny pinching, it's OP choice to go out with them or not. Personally, I wouldn't as that sort of behaviour would irk me but OP might feel obligated because they are family.
PS If they could raise rent or get a cheaper mortgage, I'm sure they would have done so already. As to selling the property / not going on holiday, that's their investment /. lifestyle choice, I'm sure they are aware they don't have to have 2 investment properties or go on holidays but equally they can just be mean on others and live comfortably while investing in their future. The world is full of people like this, sometimes you just have to ignore them.

And that's why they're rich ...haha

Awww, the poor lambs 🙄

I'd say they're really well off. If they keep on that they're 'struggling'. I'd be suggesting they either sell a property, or reconsider the private schooling. Having cars on finance leases isn't my preference; I'd rather own it, and not have the commitment of more outgoings every month - but that's just me. So, maybe they've not got as much ready cash as they might appear to. But, that's over-committing spends, the same as anyone else.
I'm afraid I'd struggle to have any sympathies for their situation, however.

I'm afraid I'd struggle to have any sympathies for their situation, however

Yes, that's the real struggle. 😂

Tiniest violin. 🎻

I think her question was rather condescending

What is the actual point of this thread?

Well off. Not struggling

Wealthy would own the properties & cars. Have access to cash sums and not have to worry about earning wages.

Very well off.

Yes becuase the more you have the tighter you get. It is not that they can't afford it. In order to stay that way or become more wealthy people with Money become stingy gits!

I have relatives like this. They own 3 properties 1 massive Villa abroad but they dress like they have nothing. Drive old used cars and never got our to eat. They also buy presents and gifts from Primark and Home Bargains........