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.

I do feel a bit sad that someone on 200k doesnt appreciate how well off they are! Given that 30k is the avergae income and they are way into the top 1%. Maybe threads like this would help gwt some perspective?

I auspect the reality is that even the 1%ers are always seeking more/aware of others richer than them. Human nature.

I feel like anything 300k+ And bonuses is rich but tbh if you have a good household income you will be paying a wodge of that in taxes so you would take home 170k out of 300k (still loadsa money) . Probably why people don’t feel that rich on high incomes, especially if you have a huge mortgage kids in private school.

@Santastuckincustoms

As have a combined income of £170k and I feel like we are comfortable but not rich. I don't buy clothes regularly, maybe once a year and all from Primark. We don't eat things like lamb or salmon or drink alcohol as they're too expensive. We only go on holiday once every 2-3 years.

You can’t be very good at budgeting if you can’t afford a bit of salmon or some clothes from M and S on £170k

@pancakesonsunday

In the south east, a household income over 300k

Ha ha, I live in the SE and even I think this is ridiculous.

Our combined income is around 110k and I would say it's well off but not rich exactly.

We live in the SE (that magical place where only a salary of over 500K is deemed enough (on MN) to survive).
Our joint salary is just over 56K (before deductions) and we consider ourselves well off - not rich, but well off.

@Bagelsandbrie

Mumsnet is full of people saying they earn a LOT of money. It doesn’t reflect my experience in real life…! We live in South Norfolk and most jobs here pay about £16-22k. If you’re lucky and very qualified in a niche industry you might get more. Only a few people higher up in larger companies or working for themselves in certain areas get more - I used to work in a head hunting recruitment agency and the most I’ve ever seen was £80k for a chief executive type role in a well known Norfolk company. Dh earns £24k, the most I’ve ever earned is £29k - anything over about £35k to us is doing very well indeed!

£16k is less than NMW and so they must not work full time It is £18,532 for a forty hour week and will rise to £19,760

Plus depending on circumstance with children you would be eligible for some benefits.

It's not just about income, it's also about family help and timing of house purchases. And expenditure like nursery fees

Our household income is about 160k - we do feel rich but we were given a big house deposit 10 years ago which allowed us to buy a house in an up and coming area of London and we have managed to now buy a family house in a more family oriented bit of London. Some on here definitely sneer at our bit of London as not that nice because it isn't Richmond or Clapham but we like it.

I have friends on similar incomes who didn't get family help to buy and they do fine but wouldn't consider themselves rich - they have small houses/flats and larger mortgages

£120k is super rich in the North! I would say a combined wage (as in a couple living together) of £50k+ is rich. It will be different in the South where cost of living and houses are higher.

Actually maybe £60k+ rather than £50k+.

I live in a city driven by O&G so I don't personally think a salary of £100k is loads

To me once you start getting over £200k I think of that as well off.

Oh and rich to me is millionaires

@Slayduggee

These threads always make me lol at the people who are on £100k + but shop at primark, don’t drink, drive a 15 year old banger, never have a takeaway, rarely go on holiday (not even a weekend away in a caravan) and don’t have any hobbies as they can’t afford any.

We are 80k at the moment and we are OK considering we have 2 x nursery fees and a highish mortgage. Once both kids are at school I’m hoping I will feel minted!

For what it’s worth I tend to shop at next, very rarely drink (same as pre-DC), drive a 12 year old car, occasionally go to the chippy, looking at booking a term time break at butlins, and I want to get back to running.

£80k is a LOT of money. So what you have a high mortgage and paying for 2 nursery places. You chose a house you couldn’t afford and even if it’s costing you £12-20k or so in nursery fees a year… that’s nothing to you! Many people have a combined wage of £30k or lower and have to make it work!

Household income over 100k.

130k household income here. I'd definitely say we're very comfortable. I never think about what we spend our money on really, buy our food from local butchers and farm shop and we go skiing etc. We have a lovely house in a nice area. I feel incredibly fortunate as I grew up on a council estate where most of my family still live. It's a good reality check.

Everything in this country favours those with money. We put everything we have over 50k each into pensions and investments to keep us under the tax limit. We've bought second properties which we've done up and sold. Yes we've worked hard but generally speaking money leads to more money.

I would consider an income of about 80000 euro to be rich. About 65000 pounds, I suppose? Well not rich, but comfortable.

I earn 24k so I’d feel rich if I doubled that tbh.We have a household income over £55k and live comfortably. ( cheap mortgage in the north and no kids). After being really skint and in debt when I was younger I really appreciate the fact I can save a little and go on holiday, meals out etc without worrying But having more money creates different lifestyles so ‘rich’ is very variable.

If I won the lottery where I could buy a bigger house, car, better quality items etc. That’s probably really rich.

For us it's less about a numeric value (which can change according to circumstances, inflation, COL etc) but more about having choices and flexibility.

And that especially goes for work. DH and I are both self-employed and run businesses. We have both achieved a certain amount 'cruising altitude' in the work that we do, which means high day rates for our work plus a certain amount of cash cushion in bank accounts/within the business.

The upshot of this is that neither he nor I feel obliged to take on any work that is offered to us, as we can afford to turn it down (for whatever reason -- too busy to do the job justice, the potential client's a dick, the work doesn't chime with our values, we just fancy an easier month, etc).

Being able to turn down work when it's offered and it not impact finances -- that's rich, in my opinion.

I think rich means not having to work.

@Santastuckincustoms

As have a combined income of £170k and I feel like we are comfortable but not rich. I don't buy clothes regularly, maybe once a year and all from Primark. We don't eat things like lamb or salmon or drink alcohol as they're too expensive. We only go on holiday once every 2-3 years.

Are you paying school fees? If not, I think you must have a budgeting issue. If you are, you are rich.

Our household income 180k but we are definitely not rich 😫

@Alonelonelylonersbadidea

Our household income 180k but we are definitely not rich 😫

How can you not be well off on that salary?

I think the question needs to be more like what do you think a rich persons lifestyle looks like?

Is it clothes from M&S and a bit of salmon, or is it multiple kids in private school, long haul holidays and top of the range cars. There’s a massive range of income in there.

@Alonelonelylonersbadidea

Our household income 180k but we are definitely not rich 😫

What are you spending it all on?

Being rich is just having an income greater than your outgoings as far as I'm concerned. I don't earn a huge amount but I don't have to worry about money. I feel rich.