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?

I can’t help but think what’s the point of all that when you can’t afford cake but that’s just me

I would say comfortable.

It is however perfectly possible to own lots of capital assets like property but not have that much disposable income.

Does the OP know whether the main home was mortgaged to get the deposits for the buy to lets?

Turning the situation on it's head - would the OP be comfortable depending on rent to cover mortgages, repairs, insurance and all associated costs with renting a property when all you need is one bad tenant for the house of cards to come tumbling down?

Are the rental properties in lieu of pension savings?

There is so much info missing that I can't tell if it's all a big gamble where they are willing to struggle in the present, for gains in the future, or if they are even that comfortably off. Can they afford the private school fees or are they getting help?

Seeing that this gov't has plans for extending CGT, and many owners are leaving the rental market; vat on school fees, interest rates up etc DB and SIL could be shitting bricks atm . Is the OP still envious annoyed when they say they are struggling?

Well, they’re certainly not struggling but I’m not sure I’d say wealthy.

The BTLs aren’t going to yielding that much at that cost. The holidays are fairly cheap for 4 people and the cars are leased. School fees are crippling, probably taking most of their disposable cash.

Comfortable but not wealthy.

They’re very wealthy and I would have to call them out on their BS.

Some people love to pretend they’re hard done by.

These people are not and I would refuse to hear them say anything about them even struggling slightly.

I agree.

But they obviously can afford cake, it’s just a show so they can play hard done by.

Maybe they value education more than overpriced food in a restaurant
have you seen dessert prices recently?

They probably do work hard and so do people who are on minimum wage.
Your comment ‘suggests’ that they deserve what they have on that basis which is irrelevant really.

Their main home is also mortgage free

You have million plus, you're very wealthy

Pretty well off but hard to say if wealthy without salaries/rental income/savings. I have 2 buy to lets, same value but don’t think I could afford private schools.

Wealthy yes for sure, I'd love to be in that financial position

They'll be people with a lot more, but yes I would definitely say you're wealthy

They spend 3000 a year on holidays. They have plenty of disposable income. They are happy to have dessert when someone else pays.

Astronomically wealthy

Of course they're rich. They have lots of assets, kids in private school etc.
we're a lot less rich, mortgage free (house worth about 400k) household income of about 120k, one dc, and when I put it into those calculators it says we are in a better position than 96% of the uk population.

In real terms, yes, top 5% territory for the UK. So very wealthy.

Oh for FFS , have you.nou seen all the fuss over the current government withdrawing the winter fuel allowance of £350 a year? Less than £1 a day can make a tremendous difference to some people's lives. If you are sending children to private school you are rich by comparison. Don't even try to claim you are just getting by, it's so insulting.

No one works harder than those on minimum wage.

3k for a family of four is nothing. Would never consider that wealthy

I'd say it's comfortable, not wealthy.

I would class wealthy as having over £3mil in assets (fully paid) and cash.

Yes, wealthy.

Well said. This whole idea that if only we all worked harder we could all be wealthy and if you are wealthy you must have worked hard. It’s rubbish.

Well off.

wealthy is private jets. Full time staff.

You surely don't expect anyone to say you're hard up, do you? Of course it's wealthy - beyond many people's dreams.

I’m saying that they do have disposable income. So they could decide to buy cake. It’s not just that they value education.

Given the definition is as follows; yes, you are:

wealthy
/ˈwɛlθi/

adjective

having a great deal of money, resources, or assets; rich.

Edited because accidentally posted before finished…

But, come on, you know this already, don’t you? The issue is that your DBro and DSis may, however, be cash poor. They need cash fluidity to service the properties etc. ie still wealthy, but can understand why there are times they struggle.