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?

That's how the rich stay rich. They are obviously prioritising their long term wealth over short term spends. Absolutely great, but don't moan about it, just say you are full up/don't fancy dessert.

It is galling when rich people moan about money struggles to people they know have considerably less.

Extremely wealthy.

Comfortable is owning a smallish 3 bed semi in a deprived area (or a smaller house in a nicer area).
Well off is a yearly holiday abroad
Wealthy is kids in private school.

Minted, but tight.
People with money often fear losing financial comfort... They can see it's shit down there.. and it makes them tight.
Shame really cos their cushion is fat more than most, but their personality can't unclench so they lack generosity and create a then and it's situation.
Oh well, it's a pity. Some people wear their money well, but people like this don't.

Shakes head..

It's wealthy. Not King wealthy but a family in a mortgage free home, 2 buy to lets, a holiday home = wealthy.

Shakes head again...

100% wealthy.

This sounds so similar to my bro in law and sis in law.
They've got a massive property with land/woods that they live in, with 3 small holiday cottages on site.
They have a different holiday cottage in a nearby town.
Their kids go to private school.
They have several holidays abroad every year.
They say they're not well off.

Utterly clueless.

4 properties? No debt? What is their income?

2 kids in private education will consume lotsof their income.

I think they are well off not wealthy

Your brother and his wife have lost touch with reality. Welcome them to Google the average salary in the uk, and how many people are living in poverty, they clearly need a hefty dose of perspective regarding their financial situation.

yes of course

Definitely wealthy - and out of touch as well if they think they’re not lol

Definitely wealthy, and I say this as someone with above average income.

I'd say they're well off.

IMO, comfortable but not wealthy.

A BTL for £250k is not exactly a huge property and with 50% finance not a huge investment either.

These numbers don't look like southern England. I don't think you could buy a 1 bed apartment in Reading for that. A 4-5 bed house would start around £750k

Significantly above average but not wealthy.

On second that's that's true, it's possible to have more equity in one house down south. I guess its hard to tell without knowing their savings. Definitely comfortable or more.

Obviously so yes.

Private school is expensive. Why are you so judgmental?
ordering a £8 dessert in an average place is expensive and adds up quickly. And in some places a dessert can be £12 and more too

@UpTheMagicFarawayTree well I think she's well off..definitely compared to me and most but I don't think she's rich. DH auntie I'd say is rich..living in a house she owns worth millions with multiple German cars multiple 5 star holidays a year a holiday home owned in Spain plenty of assets and hundreds of grands available in liquid cash. They actually both earn similar incomes but his mother is a spender for things like fancy restaurants expensive clothes and shoes ect. His auntie on the other hand looks poor and you'd never even guess she'd have money if you see her in the street She wears primark clothes she's had for 10 years and doesn't get dessert at dinner ect because she's 'tight' but by being tight she has way more liquid cash than Dh mum

The mean salary in the UK is £35,404. Wealthy. I imagine your perception of what these terms are is relative and depends on the circles you move in though.

I’d say they are asset rich but cash poor. The btls might just cover the repayment on them at 50% mortgage and the tax agency fees insurances etc depending on your brothers income the upkeep council tax and utilities and insurance on a large house could eat a significant portion of any income chuck in school fees at 2000 a month and you are easily rinsing whatever comes in every month

3k holidays for 4 is nothing tbh. That hardly gets you a week in a nice AI in half term. I wouldn’t say they are wealthy.

my friend’s neighbour has a kid in private secondary school and that’s where all the money goes and they have zero luxury money for eating out etc

Better than average.

Exactly. Add in fees for clubs, school uniforms and you are good easily looking at another 1k a term. At a private primary here, lunch is 300 a term, instruments and lots of sports are extra too.

That’s top 5% UK I reckon. Probably top 2% globally at a guess. O

And having kids in private school is a nightmare because they are in social circles where there much more money than you have and heavy pressure to commit to financially draining hobbies and expensive school trips