Do you consider this to be a top ten percent financial position?

[Infapp]

Mortgage outstanding of 250k, house value 550k.

Savings 100k.

Income 5k a month.

no

Why do you want to know your percentage level in life?

if you’re happy and can manage then what does it matter

@Canopop it’s not mine

I mean its a good position.

If that’s one income it’s a top 10% salary but no it’s not a 10% overall financial position in my view. It’s a lot higher than average but the average in this country is low.

I actually don’t know statistically but if that’s a sole income it would definitely put them up there!

regardless, sounds pretty good to me!

Do you mean statically?

what purpose do you need to know for?

I don’t think it is, but I know lots of people who earn more and not many people who have less valuable houses than that. Quite area dependant

It’s in the top 4% according to the IFS. I’ve not put in housing costs and I’ve assumed you only have one adult in the household. But however it shakes out, it’s a good position

https://ifs.org.uk/tools_and_resources/where_do_you_fit_in

World, UK?

I'd probably be paying down some of my mortgage if I had £100k in savings.

It’s in the uk, midlands.

Household or single adult? If it’s a single salary I’d assume that’s top 10%, not sure if it’s household, depends on how many others in the house.

Thank you. I can't stand these threads where people ask/state what they 'think' without considering that there is actually factual data on income distribution and inequality! (And to a lesser extent, wealth)

Top 10% of households in the UK have an average wealth of £1.2m.

"Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery."
Mr Micawber
It's all relative.

No

No

We have more assets and income but we live in a 3-bed semi in London! I don’t think of us in a top 10 financial bracket but dh did some calculator thing and we are pretty high up.
We run our own business so income fluctuates.

Here was mine:

In conclusion, Your income is so high that you lie beyond the far right hand side of the chart.

My observations/musings on this conclusion are:
-what does council tax have to do with anything?
-it takes no account of outgoings or net income.

-I’d love to see my numbers in an American context, we certainly wouldn’t be as far to the right on the chart. US income has diverged significantly from the U.K’s in the last 15 years. They are getting richer but my perception is that we are getting poorer. I don’t have empirical evidence to back it up though but I’ve really noticed it in the past few years.
-Why am I still shopping in Zara.

I think averages are pretty meaningless

I'm top 1% according to ifs but i am not actually rich (I couldn't afford to send kids to private school etc)

Why does it matter?