qwerty123 Posted 21 September 2013 Posted 21 September 2013 What do people think of this? http://m.bbc.co.uk/news/uk-24184473 I recently been offered a new job and wanted to gauge the sort of money people are currently on in and around leicester What salaries are people in the leicester area getting for particular jobs?
Charl91 Posted 21 September 2013 Posted 21 September 2013 I wouldn't say they were "rich" to be honest - I'd say that's kind of the upper-middle bracket. For me, rich is 100k+ per year.
Finnegan Posted 21 September 2013 Posted 21 September 2013 Depends on your circumstances. If you're a single income household it might not feel as much as it sounds. My dad eventually got up to about 55 odd but he had to care for my mam and had two kids. It was comfortable but definitely not in any way wealthy. If you've a partner earning something similar or / and no dependants it's probably going to feel like quite a lot. Well above the average but I tend to think of "rich" as people on six figure salaries or people living off inheritance or whatever. It's a very flexible term though really isn't it? If you're Ken it's probably anyone with a mortgage and an education. God I sound like MB.
Jon the Hat Posted 21 September 2013 Posted 21 September 2013 Depends also where you live. In London or the Southeast that is not all that much once you pay the mortgage. As finners said only have one earner and you pay a lot more tax than two people earning £30k each.
ADK Posted 21 September 2013 Posted 21 September 2013 I think of orders of magnitude when comparing incomes. Although 60K is a nice salary for most people, it's not going to see you flying round the world first class, or buying a luxury yacht. Very few salaried people are truly rich imo. Only people like footballers and a few very highly paid positions. Most genuinely rich people I know have their own businesses or are landlords. "Rich" is a subjective term though so opinion will vary.
Rincewind Posted 21 September 2013 Posted 21 September 2013 Finn I would not say all those with a mortgage are rich. And education does not really come into it. There are now many families with a falling standard of living with quite a few having to claim benefits. Footballers may earn a lot now but even they can fall into the poverty trap if circumstance within or without their control. It is different now as they are more aware and can plan ahead. I would say the rich are the ones that inherit titles, are directors of companies by name only as it looks good to have a Sir or Lord on the role call. I do not mean the ones that work their way up before anyone has a go at me. The gap though between those at the bottom end and the small percentage at the top is widening whilst those in the gap lower-lower middle class is narrowing. One way to judge I suppose is to ask what would happen if a person could maintain their lifestyle if they suffered for instance a major injury. Someone at the lower end may be unable to do their job and would have to rely on handouts. How many of those earning £50k would fall into this category I don't know. It depends on other income. But many who are coping reasonably well would be hit like those in the 9-5 occupations. Now tell me I'm wrong and just being jealous.
Steven Posted 21 September 2013 Posted 21 September 2013 I wouldn't say they were "rich" to be honest - I'd say that's kind of the upper-middle bracket. For me, rich is 100k+ per year. I don't feel rich.
Rincewind Posted 21 September 2013 Posted 21 September 2013 I don't feel rich. Being rich does not buy you happiness but it enables you to pay for your own private psychiatrist.
Jon the Hat Posted 21 September 2013 Posted 21 September 2013 For me being rich means you can afford a big detached house, private education for the kids, Wife doesn't have to work, nice holidays a couple of times a year, flying business class with the family, new car every year or two, and probably a weekend car in the garage, nice Aston Martin say. Probably a holiday home in Cornwall, and trust funds set up for the kids. Half a million or so in investments put aside for a rainy day. To start from scratch an achieve that you need to be earning hundreds of thousands over an extended period, and probably hefty bonuses as well. Some would call me a high earner, and I am certainly in the top 5%. I live in a two bed semi, drive a 12 year old car, haven't had a foreign holiday in 3 years, and aside from my pension I don't have any savings, in fact I have credit card debts. My wife only works part time at the moment (Maternity leave aside) and I do choose to pay for private school for my daughter. I am not by any stretch of the imagination rich, and I earn considerably more than £60k a year. I am fortunate no doubt, but a long way from rich.
Bryn Posted 21 September 2013 Posted 21 September 2013 Of course £60k isn't rich, this is part of the problem of modern society. That was about my Father's wage when I was a teenager, and it afforded us a modest yet comfortable lifestyle. Four children were put through University, we maintained one car and lived in a small ex-council house, we went on holiday once every couple of years. So clearly, we were not in financial difficulty, we were fortunate, but rich, a ripe target for taxation to provide the welfare of people earning less as well as all the amenities we're lucky our taxes pay for? No, definitely not.
Guest MattP Posted 21 September 2013 Posted 21 September 2013 Of course it isn't. Jon has pretty much summed up what rich is.
jonthefox Posted 21 September 2013 Posted 21 September 2013 Our household income is bordering £60k per year, and we still struggle to pay for holidays and new cars etc. I too am like Jon, whereas i have little savings and credit card debt.
DennisNedry Posted 21 September 2013 Posted 21 September 2013 If you earn 60k, how much of it do you actually take home (i.e not taken in tax)
Zingari Posted 21 September 2013 Posted 21 September 2013 I suppose to be considered rich you just buy stuff without bothering to ask the price and you probably pay little or no tax.
Bryn Posted 21 September 2013 Posted 21 September 2013 I suppose to be considered rich you just buy stuff without bothering to ask the price and you probably pay little or no tax. So people on benefits then? /obviousjoke.
Fifties Blue Posted 21 September 2013 Posted 21 September 2013 What salaries are people in the leicester area getting for particular jobs? Try this http://www.salarytrack.co.uk/
Horibbly Wrong Posted 21 September 2013 Posted 21 September 2013 ...credit / debit card debts on a 60k+ salary!! Are you kidding... Sort your life out
Rincewind Posted 21 September 2013 Posted 21 September 2013 I think I'd manage on 60K. Although I don't drive, have Sky TV have a wife kids or a mortgage. what would that be a week after tax for a single man? 6K? I'd be able to afford a season ticket in the West Stand but I'd still suffer as much as those in L block. 6k is a big increase from about £120 and I still wouldn't be extravagant. May be able to afford a Wetherspoon meal or a curry every day. But that might have a detrimental affect on my health and constitution so I may be better off as I am skint butknow my limits. Talking about meals out I don't have my dinner in so may go round the corner to a take away chicken place. I save in the week on meals though can just about manage it. They do meal deals for £2.99 so not bad.
MooseBreath Posted 21 September 2013 Posted 21 September 2013 It would be about £800 per week after tax or around £3,400 per month. I could quite comfortably be putting £2,700 of that into assets (inc. mortgage, savings & investments) and still afford to have nice things with the other £700. At that rate it'd take maybe 25 years to hit a million net worth in todays money. I'd consider myself rich at that point. So while a £60k salary isn't going to make you rich overnight, it's certainly enough to build considerable wealth over time.
Guest ttfn Posted 21 September 2013 Posted 21 September 2013 I think I'd manage on 60K. Although I don't drive, have Sky TV have a wife kids or a mortgage. what would that be a week after tax for a single man? 6K? I'd be able to afford a season ticket in the West Stand but I'd still suffer as much as those in L block. 6k is a big increase from about £120 and I still wouldn't be extravagant. May be able to afford a Wetherspoon meal or a curry every day. But that might have a detrimental affect on my health and constitution so I may be better off as I am skint butknow my limits. Talking about meals out I don't have my dinner in so may go round the corner to a take away chicken place. I save in the week on meals though can just about manage it. They do meal deals for £2.99 so not bad. It's not about managing, it's about being "rich". Living in London and earning a little less than that I have pretty limited money for luxuries. I live in a 2 bed flat with my fiancee who earns a not dissimilar amount and we don't own a car. Sure, we're comfortable and in a position that 99.9% of the world would trade for, but "rich"? Don't make me laugh.
Les-TA-Jon Posted 21 September 2013 Posted 21 September 2013 Being 'rich' isn't just about you're disposable income though is it? For example, let's imagine a family: - Income around £60-80k - 1 two week foreign holiday a year - 1-2 foreign mini breaks a year - 1-2 domestic mini breaks a year - 2 Cars - Big Semi-detached house - Spend loads of money on top notch food, entertainment and extras But they don't have much 'spare' cash. But that's because they spend it all on the above! Having the above list as an option; as a choice, is by definition what makes you rich, or at the very least very comfortable. Poverty is about lack of choice and opportunity.
Bryn Posted 21 September 2013 Posted 21 September 2013 Being 'rich' isn't just about you're disposable income though is it? For example, let's imagine a family: - Income around £60-80k - 1 two week foreign holiday a year - 1-2 foreign mini breaks a year - 1-2 domestic mini breaks a year - 2 Cars - Big Semi-detached house - Spend loads of money on top notch food, entertainment and extras But they don't have much 'spare' cash. But that's because they spend it all on the above! Having the above list as an option; as a choice, is by definition what makes you rich, or at the very least very comfortable. Poverty is about lack of choice and opportunity. I find it hard to believe a family on 60-80k has all of that, I think you would be hard pushed to prove that.
Rincewind Posted 21 September 2013 Posted 21 September 2013 If I chose any of the above I'd be in serious debt but many choose at least one from the list even if they cannot afford it.
Les-TA-Jon Posted 21 September 2013 Posted 21 September 2013 I find it hard to believe a family on 60-80k has all of that, I think you would be hard pushed to prove that. If I chose any of the above I'd be in serious debt but many choose at least one from the list even if they cannot afford it. Ok, was trying to provide anonymity, but the family I describe is my in-laws, so it is a real example, from personal experience. Regardless of that, and whether people agree with the validity of my example, my point still stands that being rich isn't just about how much disposable income you have, it's about how much income you have in total and how many choices and opportunities you have.
Guest Posted 21 September 2013 Posted 21 September 2013 rich people don't live in semi-detached houses. Rich people live in big detached houses in areas with other detached houses where neighbourhood noise is not a problem. Rich people have at least 1 owned property abroad. Rich people have more than 1 car per head. I'm NOT rich and I have 4 properties and 3 cars (between my spouse and I). £60k would mean £1m in about 17 years.
Recommended Posts
Archived
This topic is now archived and is closed to further replies.