To have expected more in life from working to reach this salary?

[grethrow]

I’m early forties and earn 75k. I know this isn’t huge money but it’s well above average salaries in the uk. I worked hard to get to this point (I’m not saying people who earn less don’t work hard).

I guess along the way I always thought I would be able to have a really comfortable life on this salary. I have one ds who is 11 but his costs don’t really factor in much as his dad pays for most stuff (ds lives with me so dad pays a decent amount).

I assumed going on holiday would be easy but renting a cottage in Devon in a nice area for a week is around 1,500, then there’s travel costs and food etc when you’re there! Going abroad long haul is extortionate. I guess these things are just about doable for me but it’s not easy.

I am having a privileged whinge. I know that. But I do feel sometimes like maybe at 18 I shouldn’t have bothered. My parents had a similar income (taking into account inflation) and me and my brother both went to independent schools, grew up in a large home and parents had very nice cars. It wouldn’t be possible for me to go and buy a nice car outright. I know people have it much worse but I still feel cheated and like it is a slog for very little, fair of me to feel this? Do others feel this?

my household income is about 10k less than yours and we live comfortably and I can consider myself very lucky. I think it all depends on your attitude (when you’re earning that much money, which is above average and an amount lots of people will dream of). I haven’t read all your posts but is it because of the amount of work and hours you have to put in? Don’t you enjoy your work? If you had a job you enjoyed which paid less you would probably be happier

So you’re complaining about inflation?

I really think you need to get over yourself, start budgeting and saving properly, and then rest in your more-than-comfortable income.

£66k is not left over. She won’t be getting £66k in the first place due to tax and NI (and pension contributions).

You haven’t taken tax/NI off that. OP probably takes home about £40k after tax. Then deduct housing costs, bills, food, clothes, car.

I have no idea how you are getting £66k, but it’s not correct.

My colleagues in Florida get paid double what I do…and Florida is not an expensive place to live in when compared to many places in the U.S!

I am same age as you, worked my arse off as a teen/young adult, got a Master's degree and other professional qualifications and have given my utter best to every role I have been in.... and have been bullied out of various roles (private and public sector) had to change fields and jobs several times, am currently back in a junior role on £32K and that's the most I have ever earned. I feel like an utter failure.

Curious as to where all your money goes!

This thread reminds me of a conversation I had with my sister recently. We were talking about when we were kids (in the 90s) and would imagine winning £1million on the lottery and being able to buy a mansion, go to exotic places like Fiji on holiday and never having to work again 😆

Welcome to mumsnet where people who aren't living in poverty are the baddies!

Maybe there are ways you could cut costs in some areas to free up some money, but you shouldn't have to. I completely agree 75k isn't the same 75k it was 20 years ago- which is maybe where people are stuck.

Obviously, that's awful, but they no doubt receive other benefits.

It takes a lot more to be a millionaire these days.
Quite understandable OP, I finally got out of the routine admin £34k bracket, nearly doubled the gross but although I am living a little better and saving some I really don't feel that much better off.

YANBU. It's so depressing to think that you're well within the top 10% of earners in the UK but going to Devon for a week on holiday is almost undoable. What a shitty circumstance for everyone.

@Foxesandsquirrels Everyone has to budget. £75k is a good salary but not in "don't need to budget territory" by long way. People burn through much bigger amounts of money through poor budgeting.

You did say "I know this isn’t huge money" which made me feel like you feel like you're not earning much.

But actually taking home less because she pays more tax

£75k household salary would be well below average where I live. Sadly I think your issue is single adult household. It's the equivalent of 2 adult household earning £37.5k each, which is only just above average English salary, but below average in SE.

I understand OP. Three years ago I was earning £55k and took a job earning £75k. I thought I was going to be so much better off…but every additional penny that I earn (and more) has been eaten up by the COL crisis….

The UK is far more expensive now. Our household earns well, certainly top 5%. We do not live a luxurious lifestyle, far from it. We have a nice house and holidays but drive old cars, would never fly 1st class and watch what we spend in order to save for emergencies.
We also have to work very hard (and long hours) and I often feel completely spent running between before school clubs, meetings, commutes, activities and chores.
I appreciate we are lucky. But with (expensive) small kids it does feel very hard.

It would be £52,550 £4,379 a month after n.i and tax.

Did you really think this thread would go down well? 🤯🤯🤯

Only 75k! It's huge money to me and I'm on nearly half that which is considered a good wage up north.

Please check your privilege gees... maybe go moan on a rich website.

It's a decent salary, but no longer so high that you don't need to think about how you're spending it. Housing costs are so much higher now, childcare is more of a necessity and comes at a price. These two costs put the prices of everything else up.

But a two parent household will always do better than a one parent household. Even if only one of the parents is earning, as the non-earning parent is available for unpaid childcare and budgetary defence.

You can have a very good life indeed as long as you are intentional about spending. If you want fancy holidays, put £200 a month into a savings pot as soon as you get paid.

I just googled take home on 75k gross and got £53,303.40.

That sounds about right.
Do you have debts OP, or are you putting aside a lot in savings and pensions?

You should be living a comfortable life. Where is your salary going?

I think there is also a psychological impact of the tax bands on what a ‘high income’ must be… but those thresholds haven’t moved with inflation.

The 40% rate originally effected 3-4% of tax payers. It should kick in at £100k.

And the £100k threshold has been in place since 2010 (!), it should start at more like £170k.

This kind of post is always going to get a lot of negative responses on here but I get where you're coming from.

Most of us expect our children to have the same standard of living as we had (at a minimum!) but probably better.. and yet that's not happening anymore.

As you say, your household income is similar to your parents but it just doesn't stretch as far. Most of us are now worse off than our parents, even with more stressful / senior level jobs and fewer children.

Out of interest how can a mortgage go from 400 to 1200? What was your initial rate and what is the new one?

Hahaha.