High earners of Mumsnet

[LongPauseNoAnswer]

I have seen quite a few threads where high earners are ripped to shreds and run out of town with torches and pitchforks. I thought that starting a thread for high earners would be a good idea so we have a space to talk money - savings, investments, tax etc.

My background is working class, I was a single parent working 3 jobs. I started my own business which has been amazingly successful so I’m definitely nouveau riche

Anyone else want to join me?

How can I become a high earner?

I would love to know what type of business you started @LongPauseNoAnswer

@wedidntstartthefires

I would love to know what type of business you started *@LongPauseNoAnswer*

My business is 100% online. I sell a digital product that I created. There is just me and 2 virtual assistants who are subcontracted project to project. Plus my web/tech subcontractor. Very little overhead and huge profitability. That’s about all I can say

I think it is a good idea OP.
I was a very high earner and retired early. I am financially independent. I have never used a financial adviser because I have always suspected that their advice is limited by their knowledge (as, of course mine is), or their interest or self interest.

Thanks @yellowspanner I think it’s important for women to hear stories like yours. How it’s possible to be financially independent therefore secure no matter what happens with marriage/relationships etc.

@xenia is great!

I think this is a good idea for a thread.

Agree about encouraging financial independence. The relationships boards are crammed with women stuck in awful marriages because they're dependent on a man.

I retired and was financially independent when I was 53. I was already divorced. My 45 year old DD is now financially independent.
It is all about planning and delayed gratification. I was very clear from a young age that I wanted to retire as soon as possible so I lived on a lot less than I earned and invested as much as I could.
I lived carefully but I paid for both DCs at independent schools.
I still live fairly frugally because it is in my nature but I have (or did have) amazing holidays and have dived all over the world. I plan ahead.
I still grow most of my own food though. And I don't drink because alcohol makes me ill.

Thanks @LongPauseNoAnswer I have no idea how you created something like that, it's so far away from my skill set.

It's great to say women need to be financially independent, but it's a tough road and the odds are stacked against us.
Of course it can be done, but don't criticise those who can't do it when society stacks as much as it can against us.
I am 'financially independent' (unfortunately because I would have loved to have found a partner to share our lives and our finances) but I am much worst off than my friends that are in couples as they have the security of a second wage etc. I manage, but it feels a hollow victory.

I have no idea how you created something like that, it's so far away from my skill set

Everyone has the skills or at least the ability to learn to do what I did. I talk about it often on here because I had no special talents. I had no money, not hand outs, no university degree.

I had an idea and started my business with €100. Literally anyone can do it.

Funny enough I had a similar thread yesterday @LongPauseNoAnswer I agree a lot of people seem to dislike higher earners and I still think that people can feel uneasy on whatever salary, especially if it's much less than they were previously earning.

I remember a thread with someone who had a household income of 3k and said they were skint because of childcare costs. Everyone jumped on them too, even though after expenses they had only a few hundred left.

@strivingtosucceed it’s annoying that it happens on practically every thread about money unless you’re complaining that you don’t have any.

I’d happily share details about my finances and how I manage my wealth but I’d be accused of bragging or get called a liar which has already happened.

It’s impossible that wealthy people are using Mumsnet apparently

@yellowspanner nobody is a bit autistic you’re either autistic or you’re not. Oh and liking numbers and not liking handbags aren’t defining characteristics of being autistic .

What a fucking offensive comment, please educate yourself.

It is all about planning and delayed gratification
The delaying gratification is a big thing for me. Those who seem to put down higher earners tend to be those who chose the instant benefits over the long term ones. They have kids early before finishing their education or getting on the ladder. They value spending for fun over saving. They stay at home or work very PT for as long as possible.

But when they read that someone opted to get a good, as secure as possible, decently paid job before having children, opted to stop at one or two despite wishing for more, go for second hand household items, older card etc...but 10/20 years later end up high earners who can finally afford the best, they are denigrated and considered to be bragging because they are just lucky to have it all.

I think you’re right @dontdisturbmenow to a degree. I live in a staggeringly wealthy city. The old money are driving 10 year old Volvos and the new money are in Lamborghinis and Ferraris.

The old money people buy for longevity not for flash and it’s a massive difference. One told me that they consider the wealth as a legacy that they must look after so they can hand it down. New money needs to be visible.

That said I’m new money. I came from a working class background as did DH. Our parents had nothing. I’m trying to learn what kind if wealthy woman I want to be. We drive a Maserati but we also have a Peugeot 206! I have clothes from Louis Vuitton and Primark.

@Port1aCastis

What do you call high earners I'm considerably richer than you I'm rich in health and happiness I'm better than you as I do have a pot to piss in?

Did you know the phrase "a pot to piss in" comes from Victoria times when they used urine to tan animal skins. Poor families would all pee in a pot and then sell it to the tannery. Families that didn't even have a pot were the lowest of the low, hence the phrase "not even a pot to piss in".

As you were.....

[quote LongPauseNoAnswer]@strivingtosucceed it’s annoying that it happens on practically every thread about money unless you’re complaining that you don’t have any.

I’d happily share details about my finances and how I manage my wealth but I’d be accused of bragging or get called a liar which has already happened.

It’s impossible that wealthy people are using Mumsnet apparently [/quote]
Share away, I'd be interested to know. What type of business do you have?

I'd get completely shot down if I revealed that my husband earns all the money, and manages it all too.

And he's going to inherit a multimillion pound business.

I have no savings of my own etc etc. Ah well!

@Macramacious if you read the whole thread you'll see that I already answered that question.

@southparkroses I think that is really interesting. My husband would be happy if I earned all the money. He chooses to continue working because he loves his job. If he decided to quit tomorrow I would be fine with that because I love what I do.

[quote LongPauseNoAnswer]@Macramacious if you read the whole thread you'll see that I already answered that question.

@southparkroses I think that is really interesting. My husband would be happy if I earned all the money. He chooses to continue working because he loves his job. If he decided to quit tomorrow I would be fine with that because I love what I do.[/quote]
What's interesting?

My job at the moment is looking after our child. It's full time, and relentless and my husband really appreciates that. I'm really thankful that he's happy to earn the money and take all that responsibility on himself.

I can't ever imagine he'll ask me to work when our child goes to school either. I've mentioned working and he's very supportive, just doesn't think I have to.

It's so nice having the choice.

I grew up fairly poor so I love having the stability money brings.

Fantastic idea! I was a bit worried by the first few responses that it was just going to get shot down as an idea.

I think I am a high earner (£200kpa+). I don't have a financial adviser, or a clue how to get one. I am bizarrely tight with money yet genuinely never seem to have any (in comparison to income).

Would normally be far too scared to post any of that either here or on MSN for fear of being shot down Even thought I am in the UK, I have never really understood the UK inverse-snobbery around money.

It's not inverse snobbery, it's jealously. Mainly.

I started to meet with financial advisors earlier this year and their fees were eye watering. Frankly they scared me and I haven’t really progressed. I know I should because our savings account interest is pathetic and I want to make sure that the money I have makes money and continues to work for me if that makes sense?

@LongPauseNoAnswer

I started to meet with financial advisors earlier this year and their fees were eye watering. Frankly they scared me and I haven’t really progressed. I know I should because our savings account interest is pathetic and I want to make sure that the money I have makes money and continues to work for me if that makes sense?

Get a vanguard investment account online. It's great, easy to understand and low fees