[Finance] What is 'rich' in 2023?

[zefarelly]

Or the effect of decades of eating shit, the majority of Brits are now overweight. McDonalds are rammed every opening hour, young folk live on horrendous and expensive bottled drinks of sugar.

Have you read the article? Can you put 2+2 together? ;-)

 

[zefarelly]

I'm not sure of the relevance of the NHS cuts but clearly this issue is not just that British kids are getting comparatively shorter due their feckless parents.

It's not just feckless parents. . . . Everything is getting increasingly expensive and few incomes are keeping up.

Having said that, my mum and many others managed to feed us well on sod all when dad f***ed off with a bint from the office . . . Who was on the hunt, because her husband had done the same. . . . It was the 70's man. Infinity foods was our filler, thankfully. I wasn't so keen then!

 

[Bakero]

It's not just feckless parents. . . . Everything is getting increasingly expensive and few incomes are keeping up.

Having said that, my mum and many others managed to feed us well on sod all when dad f***ed off with a bint from the office . . . Who was on the hunt, because her husband had done the same. . . . It was the 70's man. Infinity foods was our filler, thankfully. I wasn't so keen then!

I'm certainly not just blaming the parents. My post was responding to @beorhthelm

It's a complex issue. Money is obviously crucial, hence kids in the poorest areas being significantly shorter than their wealthier peers. It's not just buying the ingredients but also the electricity needed to cook them.

Knowledge of food is an issue. As is time and access to ingredients. Many a poor area will be well stocked with cheap takeaways but lacking in greengrocers, and supermarkets may be hard to get to without a car.

 

[beorhthelm]

I'm certainly not just blaming the parents. My post was responding to @beorhthelm

It's a complex issue. Money is obviously crucial, hence kids in the poorest areas being significantly shorter than their wealthier peers. It's not just buying the ingredients but also the electricity needed to cook them.

Knowledge of food is an issue. As is time and access to ingredients. Many a poor area will be well stocked with cheap takeaways but lacking in greengrocers, and supermarkets may be hard to get to without a car.

too easy linking to poor areas with prevalence of takaways. no takeaway is cheaper than cooking your own, including electricity and travel to a supermarket. saying they'd go to the takeaway instead of time (and lower cost) to shop and cook, is saying they are pretty damn feckless.
others have the misfortune to not know what to do, stuff kids full of simple carbs without any thought. while not feckless they seem unwilling to take advantage of tons of advice on cheap easy meals these days.

 

[Bakero]

too easy linking to poor areas with prevalence of takaways. no takeaway is cheaper than cooking your own, including electricity and travel to a supermarket. saying they'd go to the takeaway instead of time (and lower cost) to shop and cook, is saying they are pretty damn feckless.
others have the misfortune to not know what to do, stuff kids full of simple carbs without any thought. while not feckless they seem unwilling to take advantage of tons of advice on cheap easy meals these days.

What is it, in tour opinion, that makes these British parents more feckless than their European counterparts?

 

[beorhthelm]

What is it, in tour opinion, that makes these British parents more feckless than their European counterparts?

good question. cultural difference that lead to attitudes towards good diet and putting that lower than other things.

 

[zefarelly]

too easy linking to poor areas with prevalence of takaways. no takeaway is cheaper than cooking your own, including electricity and travel to a supermarket. saying they'd go to the takeaway instead of time (and lower cost) to shop and cook, is saying they are pretty damn feckless.
others have the misfortune to not know what to do, stuff kids full of simple carbs without any thought. while not feckless they seem unwilling to take advantage of tons of advice on cheap easy meals these days.

Another issue is crap food loaded with sugar fat and salt, is quite literally addictive.

we're all guilty, just not all in the wrong quantities.

 

[HastingsSeagull]

Would think income is less important than fully paid off assets? A high income raises expectations and means you tend to spend a lot more.

I’d go with about 2.5M of assets these days just because so many houses in London seem to apparently be worth 1M.

I’ll never be anywhere near these but am perfectly happy with a paid off mortgage in middle age, and rather a small income. I feel very lucky to be so secure, despite not having much opportunity to move up, just to have an easy life and not working too hard to stop moving down during such difficult times.

 

[Live by the sea]

Would think income is less important than fully paid off assets? A high income raises expectations and means you tend to spend a lot more.

I’d go with about 2.5M of assets these days just because so many houses in London seem to apparently be worth 1M.

I’ll never be anywhere near these but am perfectly happy with a paid off mortgage in middle age, and rather a small income. I feel very lucky to be so secure, despite not having much opportunity to move up, just to have an easy life and not working too hard to stop moving down during such difficult times.

Not just London , many houses in Brighton and Hove are worth over £1m , quite a few are worth over £1.5 m and more. I’m not saying that’s a good thing or a bad thing but it’s a fact. I had a friend move down from South London and couldn’t believe how little you get in central Hove for your money when looking for a house , she thought her budget was high , turned out it was quite low .

She’s now moved and loves it down here .

 

[CheeseRolls]

Or the effect of decades of eating shit, the majority of Brits are now overweight. McDonalds are rammed every opening hour, young folk live on horrendous and expensive bottled drinks of sugar.

My personal measure of cuts having effect locally, will be when I no longer see cars queueing to get into the local drive through McDonalds throughout the weekend. How can so many people view this as a convenient value for money family treat?

 

[Bakero]

Or the effect of decades of eating shit, the majority of Brits are now overweight. McDonalds are rammed every opening hour, young folk live on horrendous and expensive bottled drinks of sugar.

But don't you think austerity measures may have caused an increase in shit diets? IN developed countries, poverty and poor diet go hand in hand.

 

[Weststander]

My personal measure of cuts having effect locally, will be when I no longer see cars queueing to get into the local drive through McDonalds throughout the weekend. How can so many people view this as a convenient value for money family treat?

I often buy groceries at ASDA Hollingbury, they’ve a McDonalds off of the foyer. It’s packed every opening hour, Mum’s rushing their kids there at schools closing time. Many schools have a load of busy takeaways outside the front gates. Jamie Oliver criticised the culture, so obese Yorkshire parents passed fish n chips to their kids through the fence. Cruelty from shit mums and dads, setting up a lifetime of health issues.

No surprise that we’re becoming like the US. A couple of generations in now of people faux allergic to salad, porridge, veg. Hooked on E-numbers and trans-fatty acids. Now the next addiction, kids hooked on vaping.

 

[Milano]

It’s mainly nurture not nature. The same parents buying their kids crap to eat are also in Sports Direct buying them £70+ footie boots. Their priorities are all fecked up.

I became a parent quite late (late 30s) and it was like a nuclear bomb in my head, changed my priorities overnight. I went from being quite short sighted with money and doing what I liked when I liked to being a clear 2nd place to them, basically I ‘cut down the beer’ so the kids got what they needed (not necessarily new gear), I’m still doing this ~15 years later. I don’t know how I would have behaved had I had kids 10+ years earlier though.

 

[KZNSeagull]

My personal measure of cuts having effect locally, will be when I no longer see cars queueing to get into the local drive through McDonalds throughout the weekend. How can so many people view this as a convenient value for money family treat?

It is supposed to be a "treat", as are all takeaways. Too many people use them almost as a necessity. When my wife worked at a nursery school in Consett for a while, she could not believe the number of people who would pick their kids/grandkids up and take them to McDonalds or similar for tea every day. I also worked as a dominos delivery driver in Consett for a few months and the number of people who ordered pizza 4 or 5 times a week was incredible.

 

[Herr Tubthumper]

she thought her budget was high , turned out it was quite low .

I've met people like this as well.

 

[middletoenail]

If you want to earn serious coin and you're an average joe, then you need to leave UK. Work in the Far/Middle East where income tax is minimal and salaries are high.

When I do the math, sacrificing living overseas is the difference between me having the option to retire when I'm 55, or working until I'm 70 in UK. Its a no brainer personally, but everyone has different personal circumstances I'm fully aware.

In the UK I would need to earn over £200k a year to get anywhere near close to what I can take home in Asia.

 

[Couldn't Be Hyypia]

I'm sure this has been covered, but I'm not sure your annual income directly correlates to how "rich" you are.

I tend to equate "rich" with assets (which can come as a result of excess income"

I tend to think of someone with a large annual income as wealthy.

What is "wealthy"? It depends on your expectations because wealth is as much a feeling as something quantifiable.

You could feel wealthy earning £30k. You could not feel wealthy earning £200k.

But if pushed, I'd say you are wealthy if you have a houseold income of £200k plus. I'd say you are rich if you have over £5m in assets. If you have a household income of £100k plus, you have choices, and so I'd say that you're "well off".

All a bit vague and entirely based on your personal lens - so there will be no consensus.

 

[NorthstandRacoon]

The very richest people are getting richer so voted £1m+. It's the 1% who are increasing their wealth though that is more like £100m+ a year income.

This.

 

[DJ NOBO]

Or the effect of decades of eating shit, the majority of Brits are now overweight. McDonalds are rammed every opening hour, young folk live on horrendous and expensive bottled drinks of sugar.

some older folk too

 

[Weststander]

some older folk too

True.
https://www.ageuk.org.uk/informatio... the,one million older people in the UK today.