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

https://www.theguardian.com/business/2025/may/16/king-charles-wealth-swells-to-match-rishi-sunak-and-akshata-murty-on-uk-rich-list

£100k is £5400 after tax, NI and 5% pension contribution. £2k (for mortgage on a two bed terrace where I live), £2k in childcare fees, £495 for monthly railcard. Leaves £900 for all other bills and food. It’s hardly a luxury lifestyle and would not meet any reasonable person’s definition of rich. My dad is on a state pension only and has more than that to spend on food and bills.

Now it's in mine......oh sit down, sit down next to me......

You are rich.

Ah yet another thread based on the politics of envy..

Not if she can’t walk away and live off of interest from her investments.

Once your child (presumably a choice) goes to school you'll have even more spare cash. You're rich.

This exactly. £2,000 mortgage doesn’t get you much these days in a city in the UK. Are the only people who are allowed to buy in nice catchment areas (the likes of house that has a £2k mortgage) those with a whopping inheritance from the bank of mum and dad? If working people on a good wage buy one are they ‘overstretching’ themselves?

Some wages are high but a hell of a lot of housing is incredibly expensive. The wealthy are those with housing assets. people with high wages but high outgoings are not wealthy.

We earn over £100k as a household. Our mortgage on a 3 bed semi in the West Midlands is £1.7k a month, nursery and wrap around is just over £2k. Bills/pensions total another £1k, so we have about £250 a week for food and anything else. We will be long term better off once the nursery fees have gone but we are hardly wealthy. We were genuinely better off when my husband was in the military, we lived in military housing and received UC on top his £32k salary. No nursery, no wrap around and minimal housing costs covered by UC. We quite often question if we have done the right thing!

My parents had a household income of £70k in 2008. Today you would need to earn £124k to have that same purchasing power. The wrong people are being targeted.

Eh? Who is suddenly redefining rich as 'being able to live off investments'?

Of course they don't.

Anyone who thinks their mortgage should 'just be paid off' lives in cloud cuckoo land. Why exactly should someone's mortgage be paid off.

Perhaps educate people not to over borrow to get that bigger house that they cannot really afford. This constant stretching of money to have more and more NOW is a major problem, and why people always feel thry need more and more despite having great salaries. People have lost the ability to plan for contingencies, its like toddlers tantrums. Wise up and don't follow the Jones' and overstretch yourself for that house, that car etc.

Envy, or pointing reality?

Before my DH got ill we were a six figure household (only just). Yes we didn't lie awake worrying about money, had two (albeit older) cars and a nice house (value 450k) to live in.

We couldn't afford an extravagant lifestyle though - UK holidays with abroad one year in three, cheap hobbies (scouts and swimming for DC not horse riding), no private education and only occasionally eating out. We had to be careful (ish), due to taxes, mortgage, childcare, home improvements

When DC lost his health through no fault of his own it all turned on it's head, nothing ever stays the same.

How do you define ‘rich’?

The problem is - people work hard for their money, and don’t particularly like being told they have to share it with others who then tell them they’re privileged. It’s amazing how entitled some people are when it comes to other people’s money, and emotionally blackmailing people into parting with more of their hard-earned cash only fuels the resentment and irritation. There’s no moral value in this. People don’t want to support those who are lazy or work-shy, they’re just told they must, and it’s done grudgingly for the most part, especially when no gratitude for their efforts in supporting this huge burden is forthcoming.

It is literally impossible to make blanket statements like this about such a broad range of incomes without any context.

Share in what way?

There's a huge difference between those with wealth - assets they can live off - vs those with high incomes who are often still trying to establish a decent life, savings, buy homes etc.

Many of those with higher incomes don't have huge assets. And those high incomes don't buy anything like the standard of living they used to.

My father in law and I have careers which would have typically been roughly comparable income wise.

At my age he:

• owned a large family home in a lovely city centre location outright (current value about £1.1m)
• had a final salary pension accruing at about 1/40
• had two children in an expensive boarding school
• a pair of land rovers/range rovers on the drive
• long international holidays every year (USA, safari trips, etc)
• and a stay at home wife

Comparably, I have

• a mortgaged house in a commuter town, equity about 350k
• a defined contribution pension, where I take all the risk
• two kids in state school
• a pair of much cheaper second hand cars (electric to reduce running costs)
• last holiday was 8 years ago
• and my husband works

...and we both work at least 60% more hours

I grew up piss poor - single parent on benefits. So I am fully aware that the life I have is not poverty or anything close, and that I am doing better than many. But the generational difference in quality of life is enormous - and no, having more tech and gadgets doesn't make up for it.

And a nearly 70% marginally tax rate isn't encouraging to anyone.

Is there any research into how many people are actually sitting under a blanket in the dark, or only eating food that doesn’t necessitate the use of an oven? I would genuinely like to understand the extent of today’s hardship.

Poverty measure are all done using ‘relative’ measures, so in reality are a bit meaningless.
If someone could say there are, say, two million people sitting under blankets, I think more of us would be conscious of the comfort and privilege we enjoy.

Having a well above average income would be a good starting point.

I agree op, you see it on here all the time. We live in the south east on £50k a year. All the reasons people trott out about how hard up they are on £100k apply to us too. Oh, and we get a grand total of £170 month in child benefit. That's it.

Where is the spare cash in the example I gave? Someone who has £900 for food and all bills except mortgage/rent does not have spare cash. They are living month to month as well you know. It just doesn’t fit your narrative.

Even when nursery fees are finished, they will still be paying huge amounts in wrap around care.

And we need people to have children, particulary highly skilled professionals, but they are not because they simply can’t balance the books, never mind have a “rich” lifestyle.

People on lower incomes work equally hard, possibly sometimes even harder.
A lot of people who feel 'not rich' have never really experienced what it's like to really be 'not rich' or even to be very poor.

How far above average?

It's not.