[Finance] What is 'rich' in 2023?

[Neville's Breakfast]

Taking it back a step, don't you have to decide how you measure rich-ness?

You've used income and income alone as a measure, which is fair enough, but I think you probably need to factor in at least one other element - assets and, very probably, debt too.

A lot of those we consider amongst the very richest won't have an income at all, at least not in the way that most of us considers what an income is.

I would go further in that richness is definitely not measured in income but rather only in assets.

 

[beorhthelm]

Personally I think I'm rich - not because I earn megabucks ( I don't ) - but I earn enough to pay for the things I need and want to - bills, mortgage, eating out etc - and have reserves in the bank for a "rainy day". Compared to most I have a very modest mortgage and only ten years to go. I have three cracking, grounded and loving children and a loving and understanding wife. And in the last few months I've seen BHA play the best football I've ever seen them play. Stuff richness being about how much you earn - it's how rich your life is.

I tend to agree with Westdene.

I may not feel rich but between me and my other half we earn enough to pay our mortgage and bills, treat ourselves to things we want, save money each month and have a holiday. Which, looking at it typed in black and white, does seem to be rich.

Certainly if I were to say all this to someone who earns less than the median I'd probably get called an out of touch twat.

So who knows.

this used to be called "comfortable".

 

[Biscuit Barrel]

When you go to measuring my success
Don't count my money count my happiness

Ked Dodd

 

[Triggaaar]

I'm sure it's been covered, but I'd have thought capital plays a big part, rather than just earnings.

 

[dazzer6666]

There is little point in asking a mix of people with sufficient time to piss about during the day on a football forum what 'rich' means. The question, therefore, is a bit rich.

They are all ‘working from home’, not necessarily rich.

 

[dejavuatbtn]

When you go to measuring my success
Don't count my money count my happiness

Ked Dodd

Aye, you can’t tax happiness!

 

[Cheshire Cat]

I'm too rich to be bothered with such trifles *













*not

 

[Weststander]

I'd agree with that. Back in 2010 the government implemented the policy of eroding personal allowance by £1 for every £2 earned over 100K - aka the 100K 60% tax trap. £100K in 2010 is the equivalent to about 144K today, so definitely a really good annual income. These days more and more people are hitting that threshold, which hasn't shifted despite 13 years worth of inflation.

Fiscal drag.

The Salary Calculator - Take-Home tax calculator

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£200,000 salary gives a tax home of £116,278 or 58.%.

 

[Neville's Breakfast]

this used to be called "comfortable".

When was this ? My family couldn’t afford those things but also couldn’t have been called poor.

 

[Triggaaar]

When you go to measuring my success
Don't count my money count my happiness

Ked Dodd

Ken Dodd died

 

[clapham_gull]

Ken Dodd died

Did he ?

 

[Triggaaar]

Did he ?

No, Doddy


PS - thank you

 

[Wozza]

As an aside, I was reminded today that the poorest 20% in Britain are poorer than the poorest 20% in Poland.

F**k the Tories.

 

[Javeaseagull]

I was told some years ago that if you have a roof over your head, money in your wallet and money in the bank you are among the richest 5% in the world. I have no idea how true this is but it made me feel rich for a while!

 

[Goldstone1976]

As an aside, I was reminded today that the poorest 20% in Britain are poorer than the poorest 20% in Poland.

F**k the Tories.

That so? Got a sauce?

 

[peterward]

For £20, the charity Mary's Meals can provide a school dinner for a full year for a child who would otherwise have no dinner at all.

I'm rich.

£20 a year? With kids in school around 200 days a year, that's 10p per day.

That's simply not possible unless also subsidised from somewhere else?

 

[herecomesaregular]

As I've got older I've realised it's not about how much money you have but how little you can spend, while still being comfortable and happy. Anything I buy I research beforehand and make sure I get a quality product at a value price, often second hand. I then find I want what I have, rather than have what I want (a good happiness barometer). The amount i see other people spend on willy nilly, without thought, then don't use, throw away or resell for peanuts is ridiculous. Not answered your question though.

 

[jackanada]

If you're really rich then you don't mind about the ridiculous price of utilities in this country because you're getting dividends from them. Not that you know that because a wealth management company takes care if it for you.

 

[Bakero]

That so? Got a sauce?

Have a read of this: https://www.thenational.scot/news/2...uest-politicians-reluctant-tell-truth-brexit/

And this: https://www.ft.com/content/ef265420-45e8-497b-b308-c951baa68945

Voters in the poll on this thread take heed of this line from the 2nd article:


"the top-earning 3 per cent of UK households each took home about £84,000 after tax (which) puts Britain’s highest earners narrowly behind the wealthiest Germans and Norwegians and comfortably among the global elite".

Yet more than half on here will tell you those households aren't rich.

 

[Wozza]

That so? Got a sauce?

Former Conservative party chairman, Chris Patten...