[Finance] What is 'rich' in 2023?

[dazzer6666]

£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?

Poss in Zambia, Sudan etc.…..

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www.marysmeals.org

 

[Herr Tubthumper]

What is rich? Being able to afford a trip on the Titanic submarine.

 

[dazzer6666]

What is rich? Being able to afford a trip on the Titanic submarine.

…….even if was only a single rather than a return

 

[Triggaaar]

That so? Got a sauce?

It does sound a bit unbelievable. Some creative judgements I imagine.

 

[raymondo]

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.

And the really rich would have one of their people read this thread for them, and only report back if there was an investment opportunity.

 

[peterward]

Poss in Zambia, Sudan etc.…..

Where We Work

Mary's Meals works in countries across Africa, Asia, Latin America, the Caribbean, and the Middle East. Thanks to the generosity of our supporters and the dedication of many thousands of volunteers around the world, we are successfully feeding more than 2 million children every school day.

www.marysmeals.org

Aha, ok fair enough. I assumed it was UK

 

[southstandandy]

 

[raymondo]

Exceptional earnings e.g. a one off.

I live in a house with highish earnings. It has five adults. Two are trying to pay off an outstanding mortgage and top up pensions. The other three are saving hard for a deposit to buy properties. In the not too distant future this will be a household of two people with reduced pension sized incomes.

Assuming the three savers are able to afford a mortgage ( good that you've given them the chance to avoid commercial rents)

 

[clapham_gull]

No, Doddy


PS - thank you

 

[Harry Wilson's tackle]

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

'working from home' is it?

 

[Triggaaar]

It is possible to be rich at any of the earning options outlined. The biggest discrepancies exist in unearned income and the transfer of assets between generations.

For example who is richer here?

1 A 25 year old who owns a substantial property outright and a top end car, does not work and has £49K index linked income from investments
2 A household with exceptional earnings within 1 year of £500K, with no assets?

2.

 

[Bakero]

It does sound a bit unbelievable. Some creative judgements I imagine.

Not really if you've been to Poland in recent years.

 

[dazzer6666]

'working from home' is it?

Me ? Not rich, and the only work I do now is unpaid

 

[Blue3]

if the figures are to be believed the increase of income required from 2022 to 2023 is frightening

According to the Rowntree Organisation in 2022 A single person needs to earn £25,500 a year to reach a minimum acceptable standard of living in April 2022. A couple with two children needs to earn £43,400 between them.

while in 2023 Project Finance worry free say a total household income of £80,000 puts you in a great position to cover your expenses, save some money for a rainy day and retirement, and have a little left over for some leisure expenses!

Credit Suisse in 2021 said there are approximately 685,500 Britons in the richest 1%, with a total wealth of £2.8 Trillion
As a comparison, 48 million Britons, 70 per cent of the population, have a total wealth of £2.4 billion

 

[Wrong-Direction]

The problem is more and more working class people think they're middle class and more middle class people think they're upper class. They all think they're poor. Majority of people are fine if living within their means. This is why we keep getting shafted.
BTW I say this I'm not married, no kids and pay reasonable rent. The future looks bleak when those change.

 

[Bakero]

Credit Suisse in 2021 said there are approximately 685,500 Britons in the richest 1%, with a total wealth of £2.8 Trillion
As a comparison, 48 million Britons, 70 per cent of the population, have a total wealth of £2.4 billion

 

[dejavuatbtn]

View attachment 162556

I suspect we only need some of them.

 

[Weststander]

That so? Got a sauce?

The World Bank indices that shows Poland as having a lower poverty rate than the UK, with greater poverty in Spain and Italy. With almost zero poverty in Morocco, China, Ukraine, Belarus and Algeria.

 

[Bakero]

I suspect we only need some of them.

Nah, put all their heads on pikes.

 

[Commander]

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.

And yet if you are in the top 3% of UK households at that number you would be absolutely nowhere near being able to afford a house in the top 3% of house values. My generation (40 ish) have been screwed by the Boomer generation in the housing market, but for the generation below me it’s absolutely ridiculous.

I’ve got a friend about 10 years younger than me that did extremely well in a sales job in his 20’s, earning around six figures most years. He saved as hard as he could for years and with no help from his parents finally managed to purchase a bang average 2 bed flat in a reasonable part of Hove, with a big mortgage. In a fair economy, someone should be able to buy a flat like that earning only a little more than the average wage, surely?

How my kids are ever going to buy a house I have absolutely no idea. Especially once I’ve spunked all their inheritance travelling around Europe watching the Albion in the Champions League for the next twenty seasons.