To think the problem with wealth inequality is that rich people don't know how rich they are?

[Neeroy]

Article in the Times today saying that people earning six figures 'don't feel rich'.

Because they are surrounded by six figure earning peers they are comparing themselves to people who have more rather than the 90% of the population that have far less. This is why the budget is poorly received in the news, because rich people think they already shoulder too high a burden when in fact compared to everyone else they still have far more disposable income. Even if they have to cut down on the number of holidays they go on. They aren't sitting in the dark under a blanket. Or only making food that doesn't require turning on the oven.

I don't think they realise how so many people have to live.

www.thetimes.com/article/1fb46414-8f65-436f-8f95-451d69626148?shareToken=8061d939633164c0dfbd805240c8e008

No, the problem with wealth inequality is not that richer people don't recognise they are rich. The problem with wealth inequality is that some people are very poor. 6-figure salary people recognising they are wealthy won't make poor people any less poor.

I think ' being rich ' can mean different things to different people . Obviously multimillionaire who live fabulous lives and move in those circles are .
Then there are others that live a modest lifestyle , that have a decent life , living and spending what they like whilst having no debts and a good amount of money in the bank they are rich also.
I'm probably in the latter , we've paid off our mortgage , children grown up , a few years off from getting a state pension but not working as decided to stop working 10 years ago , and we've got enough money to do and go where we want and buy what I want and a good pension pot waiting for when we want to draw it .
So I feel rich although the millionaires on here would probably disagree .

I've not accused anyone, I've stated that it's not always simple to understand other people's behaviour and that it's naive to jump to conclusions.

Nobody has suggested that though.

Sorry, what? I've never once suggested that 'people from difficult backgrounds cannot succeed in life'. Where are you getting that from?

I’m not sure it’s as simple as saying people on six figures ‘don’t realise they’re rich.’

A lot of them do know it — but high earners also live in the same economy as everyone else, with the same costs rising at the same pace, just multiplied by mortgages, childcare, and taxes that scale up with their income.

It’s easy to say ‘they should feel wealthy,’ but lifestyle inflation, social pressure, and higher fixed expenses are very real.

If everyone around you earns similarly, your perception adjusts — that’s basic human psychology, not moral failure.

And while it’s true that many have more disposable income than lower earners, they’re also the ones funding a disproportionate chunk of public services through taxation.

The narrative that they’re some aloof class floating above reality isn’t always accurate.

Not every high earner is lounging on yachts and flying to Dubai twice a month.
A lot are just trying to manage their finances like everyone else — with bigger numbers attached, yes, but also bigger obligations.

People can struggle at different income levels for different reasons. It doesn’t always mean they’re oblivious — just human.

I find it amusing and intriguing that people often dislike the wealthy yet want everything they have without leaving them a scrap. It seems like everyone who resents the rich wants to take all they own and leave them with nothing. Then the cycle starts again, as those below will want what those above possess, and this continues endlessly.

How soon into earning 6 figures does one become rich? First paycheck? What if someone earns 6 figures for just a few years? Are they still rich?

If I started earning 6 figures next year (and I hope in the not too distant future I do), I won't be rich. For reasons outside of my control, I don't have any savings, my pension might last a year, and the only other assets of value I own are my old macbook and a secondhand car.

British wages are so stagnant, I don't believe the answer is to tax people earning over £40k anymore. The fact that so few people earn £50k and above is appalling, a couple of million isn't a vast amount anymore and hasn't been for some time.

We need to find a way to ensure the 1% and corporations like Amazon pay proportional tax and I don't for a second believe that it's impossible.

So are they rich or not? Your post is full of contradictions. Btw, not everyone wants what they have. People prioritise different things. Believe it or not, not everyone wants money to be their priority.

I don't understand why you keep thinking that we "have money as our priority".

I want the same things you do, per your previous post: a comfortable home, family around me, good times and memories.

It's just that a comfortable family home in London is really expensive and requires quite a lot of money...

I don't want the money just to swim in it.

We got "rich" by saving like hell as soon as we had jobs. For years, me and DH had no holidays, no new clothes, nothing like jewellery/handbags, I have no engagement ring and our wedding was a reg office cheapy for 10 people. Our furniture was stuff from our childhood bedrooms. That was it. There have been periods (spanning years) where we have worked 7 days weeks. Every spare penny went against the mortgage. We now own our house outright and DH earns a very good salary having been in the same industry for 30 years and working exceptionally hard in it.

We have worked our guts out and definitely harder than people in 35h pw jobs. Regularly, we both worked double that and more.

I feel very angry at the govt looking at us as cash cows. We own a band G property. We earned every fucking penny. We did not have generational wealth or any shit like that. Nobody in our family ever went to uni before us and nobody even had any A levels.

We aren't even swimming in money as people seem to think. In fact, the top I'm wearing is about 15 years old and has a large area where the fabric has simply worn away. I could afford a top, but I don't care about the state of my current one. DH is still working tonight, wearing a 2nd hand suit. We could afford to replace these clothes but that isn't how we've got rich.

If we were younger, we would emigrate. The UK has gone to shit with more than half the population not being net contributors. That's what we have to fix, not demonise people who've done well.

I didn’t mention you.

Yes, arguably there's a certain amount of privilege in being in a position to say that money isn't a priority.

I am privileged. But money has never been a priority. My family and friends have always been my priority. Along with the people I helped when I was working.

Only a rich person would say that. I'll bet if you were really struggling, choosing heating or eating, unable to get your kids new school shoes when their feet grew.. money would be a priority then.

Yes, I got minted working for the council 🤣

Lucky you. You had a safety net, some of us are the safety net. Money isn't a priority over friends and family, money is a priority because they are our priority. If you don't need to understand that, then yes, you and your friends and family are indeed privileged.

I just don't know who you are talking about when you talk about people who treat money as a priority.

I live in a 2u2d, I have one child and another on the way, I would love a bigger family. I likely need a bigger house for that. We were at the edge of affordability just for this house. To the extent I dream of pay rises and promotions it's because I hope we can do that before I age out of childbearing years.

I know I am lucky in many ways, I'm easily able to put food on the table, I don't worry too much about bills. It's just that housing is this huge, huge expense which massively affects my life and it's not because I "bought a McMansion".

I find it kind of strange that people just accept that young people are in this situation. Someone with my income should not be worrying about whether it was irresponsible to have a 2nd child or whether a 3rd is an impossible dream.

I answered a post where the poster claimed that people are envious of people with monetary wealth.

That three people misunderstood that and took it personally isn’t my problem.

The reading comprehension on here is shocking.

What was my safety net?

If you have a high paying London job, you need to have a convenient commute.
When I look at the unbelievable prices of quite ordinary houses in desirable ie convenient parts of London, I can see they would take up most of a high salary. Also, I guess the cost of living is higher in such places.

Same here. I got "rich" by spending 40 years being frugal, self-disciplined and prudent. And by purchasing far less house, car, etc. than I could 'afford,' by avoiding debt, by always working a FT job AND a side gig, by DIY, by not popping out children I couldn't afford, by not entangling myself financially with lowdown users and losers, by using every risk management tool such as income protection insurance, by taking good care of what I do own, like auto and white goods and such, by not expecting to "upgrade" the kitchen and bath every 10 years, and so on. Not blowing out thousands of pounds at Christmas, or getting tattoos, or going on ridiculous hen dos and other holidays.

Having a decent brain and good health is good fortune. But I refuse to concur that it's "privileged" to finally enjoy the fruits of working 50 hours a week for 40 straight years.

Do you live in London and, if yes, do you live in a desirable part of London?

Yes London. Desirable - as desirable as I could afford :) on the outskirts of a slightly nicer area and about an hour commute each way to my job. We did consider moving even further out; my boss (who owns freehold in Chelsea) frowned when I mentioned we were considering this and told me when he was my age he always tried to be 15min from the office in case a client ever needed him.

Do you have children @bbwbwka ?