couple struggling with 200k pa

[LondonManc]

Not after divorce settlements I don't!

FTFY

[Old Greg]

I don't know how it is in Cornwall but we are already starting to see the first pips squeaking up here in the west country.

I think there is a wider point to this story that isn't going to be received well by the wider world that is struggling on 20k or less. People that get these big jobs, do it because they want more for themselves or families. You might not see a value in having 20 pairs of Nike trainers and 1 pair of feet or thinking nothing of spending £40 on a lunch time bottle of red to go with a burger or steak. But for some contractors thats one of the motivations for putting more effort in.

When I started in IT the difference between the richest in society and the contractors was negligible Ok the contractors probably didn't have a few million in a trust but when it came to wanting a decent house or car having a job over 100k would sort that.

Our problem is we have let so many scummy little crooks steal our country and launder money here, that there is a class of workers in the UK that now feel royally screwed. Why would you want to do a job as stressful as to earn 200k and still be stuck in Croydon for the pleasure of a 4k a month mortgage?

Yeah first world problems suck...

It's interesting looking at high status jobs like hospital consultants in London starting on 78k. If you don't have family wealth and you want to raise a family, consider what type of house you get to buy, and compare it with a traditional "hospital consultant" house.

[bobspud]

Your living is so far beyond what most people would consider "living"....

I met plenty of people like that when I moved out of London. Their idea of a hard day was the fact that it took them 40 minutes to get to the place where they worked... They couldn't comprehend that on the same day I got out of bed at 4 and was sat in the business lounge at Bristol international before they even woke up. I then caught the first flight out to Holland, rented a car and drove almost to the German border for a client meeting. Only to then come back and was stood in the pub at 9pm on the same day. They didn't have the capacity to understand it was even possible.

So because of that, they considered living as: Renting a shoebox in a new build estate, while having to count the shrapnel in their pockets to see if they could afford the last pint of the cheapest tulip on tap before staggering back to ricochet of their walls. If thats your idea of life, then great, I'm happy for you! Now run along back to your battery hen life.

So we are all hard done by contractors

I don't think the word is hard done by, but it is a concerning symptom when the professional classes are so ****ed their traditional skilled roles are not even providing a decent level of income.

I have never understood the mentality that says because they are all poor I need to drag myself down and fit in. If you don't want to do the hard work then why should I care if I take the money instead...

[Old Greg]

I met plenty of people like that when I moved out of London. Their idea of a hard day was the fact that it took them 40 minutes to get to the place where they worked... They couldn't comprehend that on the same day I got out of bed at 4 and was sat in the business lounge at Bristol international before they even woke up. I then caught the first flight out to Holland, rented a car and drove almost to the German border for a client meeting. Only to then come back and was stood in the pub at 9pm on the same day.

If that's your idea of life, then great, I'm happy for you! Now run along back to your battery hen life.

[ChimpMaster]

I'm in the middle example. After tax(which is higher than 45% because a lot is made up for shares classed as BIK ) I clear a six figure number but in the grand schemes it's not life changing.

40k into a pension. Living costs maybe 36k a year, holidays 10k a year and a couple of ISAs for the future it's all gone.

If you wanted private school and new cars every other year, plus the display of wealth I think you need to be closer to 500k PA.

Most salaries just allow you to live. And that's it.

Your living is so far beyond what most people would consider "living"....

So we are all hard done by contractors

He's not a contractor.

For what it's worth, I agree with the sentiment MF is describing. If you're providing for a family and trying to prepare for a financially self-sufficient retirement, then £100k/year will get you there but not with any luxuries in present-life. So of course it's difficult when you don't want to be dependent on handouts from the government and from charities, or a burden on your kids in your old-age.

Personally I save as much as I can for my 'retirement', all whilst raising 3 kids along with a wife that doesn't work because she manages the home and kids. My total earnings are more than MF's but I have no luxuries to show for it.

Quite often I sit back with my average grade whiskey and think WTF is it all for. Why work so hard and have so little to show for it - and when the reality is that money and materialism does not make me happy. But then I remind myself that I am choosing to save now to buy time for myself in the not-too-distant future, more time that I will spend with my kids. So money is not for buying things, it is for buying time, it is the enabler that will lead to my financial-freedom.

And that is the luxury I am aiming for.

[Old Greg]

He's not a contractor.

For what it's worth, I agree with the sentiment MF is describing. If you're providing for a family and trying to prepare for a financially self-sufficient retirement, then £100k/year will get you there but not with any luxuries in present-life. So of course it's difficult when you don't want to be dependent on handouts from the government and from charities, or a burden on your kids in your old-age.

Personally I save as much as I can for my 'retirement', all whilst raising 3 kids along with a wife that doesn't work because she manages the home and kids. My total earnings are more than MF's but I have no luxuries to show for it.

Quite often I sit back with my average grade whiskey and think WTF is it all for. Why work so hard and have so little to show for it - and when the reality is that money and materialism does not make me happy. But then I remind myself that I am choosing to save now to buy time for myself in the not-too-distant future, more time that I will spend with my kids. So money is not for buying things, it is for buying time, it is the enabler that will lead to my financial-freedom.

And that is the luxury I am aiming for.

100k / year (or whatever sum you choose) buys freedom from fear of destitution.

[diseasex]

That article is a proof that money doesn't buy happiness. Simple as that

[scooterscot]

I'm surprised it takes both members of the household to pull down £200k in the UK. Living to work.

[scooterscot]

+1

Thought that too.

What's more criminal is that there is no combined household allowance for tax purposes in UK - so in cases when wife stays at home and husband makes half decent money he gets totally ****ed over tax wise.

Maybe we should blame EU for that? Oh wait, in France they've got combined household income for tax purposes!

Combined tax code III, as it is called here in Germany.

[scooterscot]

All the newspapers are turning into the Fail.

Anyway, £700K house, mortgage could be nudging £3500 per month on that alone.

They could buy a home in Edinburgh for half that and still have a fist full of public schools to choose from.