What income do you consider rich?

[Believer99]

Interested to know what household income is considered rich.
When I was younger (19) I remember telling my BF when he earns over 30k il be a SAHM 😳 because I considered that to be an awful lot of money

Now we are older & earning more of course my perspective has changed, I would probably consider a household income of over 120k rich now we live in the north of England.

As I only earn 16k I still think 30k is rich

In the south east, a household income over 300k

@pancakesonsunday

In the south east, a household income over 300k

I live in the south east and can't even imagine that kind of wage.

In the north 120k is loadsamoneyyyyy
In the south not so much

I’d probably say, in the south anything north of 200k is “rich” as in, plenty of money to have and do all the nice things

I consider my salary to be almost embarrassingly big, I'd never tell anyone in real life how much I earn, but I think that's mainly because I've gone from £38k to £80k over the last 18months and can't quite grasp the increase yet.

£200k plus annual income.

@blessedbethechocolate ok, maybe I should clarify.

In one of the prettier options of one of the commuter towns into London, I think a joint income of over 300k just inches into rich territory, as that allows for a 4 bed pretty house. In London itself that joint income wouldn't be classed as rich I don't think (well off and fortunate certainly, but not stand out rich). Am well aware that in some parts of the country it's a ludicrous amount of money though.

Our household income is well over 120k in the north and we don’t feel particularly rich and that’s with no kids and a small mortgage at the moment! We’re obviously comfortable but not to the extent we’re splashing out on first class flights or expensive champagne every weekend.

Depends on what you mean by rich - if you want to be able to buy a large house in London for say £3 million, have a second home, expensive holidays, private schools, housekeeper etc then you’re going to need a massive salary well into high 6 figures - especially when you take into account how much that salary will be taxed

In fact most of the people I know who are rich didn’t make their money from a salary - it’s usually inheritance/family money or very successful businesses that they sold for a lump sum

Well off £120k+ combined income, rich £500k+. I live up north.

We have a friend who just bought a helicopter, I’d consider him rich. Mostly I’d consider people well off or very comfortable but very very rarely rich.

It’s not just about income, but also expenses.
When we lived overseas we had a high income but also hardly any expenses as employer paid rent, utilities, car, petrol, medical and dental bills etc so we felt pretty rich.

I thibk most people think average salary is what they themselves earn and being rich is about double that. The only time anyone feels rich is when their income has expanded much faster than their outgoings.

Rich is having capital that produces a good income so you are financially free, isn't it?

A big salary is only going to make you rich if it's really big enough that you can build up capital. Capital lasts, a salary can disappear anytime.

@HalfShrunkMoreToGo I am hugely intrigued! What job sector are you? That’s a massive increase that I also can’t imagine so would love to know more!

That’s very subjective.

I would say for me personally anything over £150k. That’s currently for me and the Mrs and no kids living in Midlands.

@Cakequeen1988 I went from a customer servicemanagement role into Governance and compliance, then a few strategic moves and a lot of luck had me end up in a senior InfoSecurity role. I had 5 job titles over that time and a lot of knuckle bitingly uncomfortable 'I'm great and you really don't want to lose me' type conversations that I acted/bluffed my way through while feeling like an imposter.

@RosieGuacamosie

Our household income is well over 120k in the north and we don’t feel particularly rich and that’s with no kids and a small mortgage at the moment! We’re obviously comfortable but not to the extent we’re splashing out on first class flights or expensive champagne every weekend.

This. Household income of £130k thereabouts in the north with 1 DC and we're comfortable but absolutely not rich. I'd say £250k+ would start to feel that way.

Average house prices where I live are over half a million. Say you have deposit saved, you would still need to be earning a joint £125k to get a £500k mortgage. That suddenly doesn't sound so rich, you are eonly gettingan averageplace, not palatial. I am very thankful I got my smaller , out of prime location doer upper years ago, I wouldn't be able to afford a 1 bed flat these days!

A big salary doesn't make you rich, people live within thier means and larger salaries tend to have larger bills which doesn't always leave endless amounts of disposable income. Me and dp earn around 80k + between us. I in no way feel well off. I dont stress about bills but we dont really have enough to have nice holidays and dont spend money on nice stuff endlessly.

If you earn over 60k you’re in the top 10% of earners, so if you have two of those wages coming in (household income £120k), I would say that’s rich. It’s not rolling in money, inherited wealth, I-can-do-whatever-I-want rich but it’s richer than the vast majority of people in the UK.

My definition of ‘rich’ would include a large, detached main home plus a holiday home, kids in private schools, two new premium brand cars, several holidays a year and money for expensive hobbies, eg golf, horse riding etc.

By that definition, I would say £300k in Greater London and £200k in the rest of the country.

@Spacerader

A big salary doesn't make you rich, people live within thier means and larger salaries tend to have larger bills which doesn't always leave endless amounts of disposable income. Me and dp earn around 80k + between us. I in no way feel well off. I dont stress about bills but we dont really have enough to have nice holidays and dont spend money on nice stuff endlessly.

Yes but people with higher incomes get to choose those higher outgoings. Larger bills because they have a bigger house or a nicer car or pay for private school doesn’t mean they’re not rich, it just means they’ve prioritised those things over spending money.

Well off for us would household income of over 50k maybe. Rich, household income of 80k plus?

I’ve never had a household income of over £30k so twice that would make use feel well off yes and triple that I’d definitely feel rich.