[Finance] Does earning 100k a year make you feel well off these days?

[hans kraay fan club]

Kids not liking football is tricky. You can’t force them to like something, unfortunately. My post was aimed at people who have kids that love football but allow them to support a different team. I will never get my head around it, and it’s a completely wasted opportunity for bonding with your kids over a shared passion that will last a lifetime.

Absolutely. If we didn’t have a shared love of the Albion, and football in general, I’d have missed out on so many special moments shared with my two lads. When I got them their first season tickets to sit in the rain in the Withdean family stand, watching Joel Lynch and Gary Hart, I never imagined I’d be enjoying time in Amsterdam or Rome with one of them, following the club.

 

[saafend_seagull]

Yep that's where I'm at. Lots of nieces and nephews but don't feel the need to have a family, perfectly happy with just me and the Mrs. Nice long sleeps at night and no money troubles.

Gen z is swaying this way as well. And a lot of my mates who regret having a family and are broke every month (despite earning big bucks) after trying to keep up with the Joneses and the unattainable insta dream life !

Not a chance any of your ‘mates’ who have had a kid regret having a family. They may mean they had their first kid too early.

 

[dwayne]

Not a chance any of your ‘mates’ who have had a kid regret having a family. They may mean they had their first kid too early.

Seems to be a recent phenomena especially in the media, apparently 1 in 12 parents regret having kids...... Obviously it's bloody harsh to admit it!! - I also used to date a girl from Amsterdam who's dad openly said he wished he'd never had a kid ! (Ironically he died a grisly death)

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I love my kids but I regret having them. How can I accept my life as a parent? | Leading questions

It may help to view parenthood as a rapidly changing condition, advice columnist Eleanor Gordon-Smith says. It’s also important not to struggle with these feelings alone

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I regret becoming a father - the children are ruining our marriage

'I didn't want kids, but I didn't want my wife to leave me, so I said yes to being a dad. I wish I could go back in time,' says this 43-year-old father of two

inews.co.uk

 

[Bakero]

Not a chance any of your ‘mates’ who have had a kid regret having a family. They may mean they had their first kid too early.

It's taboo to mention it but the tens of thousands of people in Facebook and Reddit groups dedicated to the subject clearly do. Surveys in the US and Europe show between 7 and 14% of parents wouldn't choose to have kids if they had a second chance https://www.theatlantic.com/family/archive/2021/08/why-parents-regret-children/619931/

 

[Triggaaar]

The problem is we live in London and an Arsenal women’s game (which my wife goes to live reasonably regularly) is probably easier and definitely cheaper to take my daughter to than a Brighton game.

Ok, so it's going to be a little bit harder taking them to Brighton games. But it'll be worth it in the long run. My two shared a season ticket for several years from the age of 5, and now they've had their own ticket for several years. It's part of our shared life, and we'd miss out on a lot if they weren't Brighton fans.

 

[Cordwainer]

My experience. Get them to Albion games, but never force it when then they have phases of not wanting to go (which is sound advice with all kids interests … we did that with skiing too, when they didn’t like it very young). The buzz of actually being at games, hopefully Albion wins and goals, an early favourite player or two ….. will beat watching Arse on TV. It may be a slow burner.

Did the same with both my kids from a fairly young age. My son, born n bred Brighton…a huge Seagulls fan, lives n breathes it thank feck..as imo that’s the right way to be. My daughter, born n bred Brighton is a Cobbler (NTFC, not profession), cos she loves her daddy (that’s me, I’m pretty sure).

 

[Bold Seagull]

Average salary in the SE in 2024 was £39k.
For a combined household income, anything above £78k per year is above average.

The question wasn’t whether £100k pa makes you rich, it was whether it makes you feel well off.

If you can service a mortgage/rent, run a car, go on holiday, contribute to a pension, not worry too much about bills - you are well off. If you don’t think that’s the case you’re out of touch with what not being well off means in this country.

 

[The Antikythera Mechanism]

It’s all about Income v Expenditure. Large companies can turn over £100’s millions and still go bust. The same to a lesser extent applies to individuals.

 

[Bodian]

It’s all about Income v Expenditure. Large companies can turn over £100’s millions and still go bust. The same to a lesser extent applies to individuals.

"Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery." [Dickens, C - David Copperfield, 1849]

 

[Ludensian Gull]

Unfortunately I'll never know

 

[Wozza]

Late to this thread.

As we've seen from the responses, it very much depends on life stage and, in particular, mortgage situation.

I've been thinking a lot about finances recently.

I go to a lot of festivals, gigs, football etc because life's for living, right?

But prices are going through the roof. Just because I can afford it, doesn't mean I'm gonna pay it.

Time to draw a line. I'm sure many others are thinking the same. The 'middle class squeeze' is real.

And, no, this isn't specifically about the player awards at The Terrace...

(Oh, you can add in TV/digital subscriptions too)

 

[beorhthelm]

Late to this thread.

As we've seen from the responses, it very much depends on life stage and, in particular, mortgage situation.

I've been thinking a lot about finances recently.

I go to a lot of festivals, gigs, football etc because life's for living, right?

But prices are going through the roof. Just because I can afford it, doesn't mean I'm gonna pay it.

Time to draw a line. I'm sure many others are thinking the same. The 'middle class squeeze' is real.

And, no, this isn't specifically about the player awards at The Terrace...

(Oh, you can add in TV/digital subscriptions too)

i dont believe the middle is so squeezed, rather they have so many options they run out of money and time.

 

[Wozza]

i dont believe the middle is so squeezed, rather they have so many options they run out of money and time.

Again, depends on life stage/age.

If you’re a 60yo homeowner you may well be set.

But, as on this thread, you can be 30 with a kid and be on £100k and ‘struggling’… and with little security.

“Everyone thinks they’re middle class until they lose their job.”

Plenty of articles about predicting the death of the middle class (white collar version).

 

[B-right-on]

Average salary in the SE in 2024 was £39k.
For a combined household income, anything above £78k per year is above average.

The question wasn’t whether £100k pa makes you rich, it was whether it makes you feel well off.

If you can service a mortgage/rent, run a car, go on holiday, contribute to a pension, not worry too much about bills - you are well off. If you don’t think that’s the case you’re out of touch with what not being well off means in this country.

Shows how fecked up this country is (and most of the current Western World tbh) that living in a house you are buying, paying for your kids to go to nursery because you have to work (you'd never get a mortgage on one income), taking a couple of weeks a year to go somewhere hot and sunny - and you're considered "well off".

You could well be, but that's an indication of how successive Govts in the UK, USA, EU etc... have totally screwed up and forced others down into poverty making those with £100k pa lifestyle look well off.

30+ years ago that was normal.

My daughter and her husband have an income of £100k pa. They're mid 30s. She's the bigger earner. Between my 2 grandkids in nursery, mortgage for a 3 bed semi in Shoreham, 2 cars needed for work and one holiday a year, there's not a lot left at the end of the day.

Yes she's fortunate to be in that position. But that's not her fault but the fact that the Govts continue to tax the shite out of the middle classes making it harder to get ahead for the majority and it makes her "well off" for something that should be "normal"

 

[luge]

Take home pay calculator would have someone on £100k having £68,557 after tax. Minus £42k ( your £1500pm mortgage and £2kpm nursery) would leave then £26,515pm

Or just over £2k a month for pension, savings, utilities, holidays, shopping. And that's only for the handful of years both kids would be in nursery.

I think I'd feel more than fairly well off

Utilities are near enough 900 quid these days for a 4 bed house. Food shop for a family of four is getting close to 200 quid a week. Add in your car insurance etc.

Got kids? Kids clubs etc come and replace your nursery fees, wrap around care (albeit not the same).

 

[sussex_guy2k2]

It’s all about Income v Expenditure. Large companies can turn over £100’s millions and still go bust. The same to a lesser extent applies to individuals.

Most people want to keep up with the Jones’s. That’s what kills most peoples’ finances.

 

[sussex_guy2k2]

Take home pay calculator would have someone on £100k having £68,557 after tax. Minus £42k ( your £1500pm mortgage and £2kpm nursery) would leave then £26,515pm

Or just over £2k a month for pension, savings, utilities, holidays, shopping. And that's only for the handful of years both kids would be in nursery.

I think I'd feel more than fairly well off

You’re being optimistic with some of these numbers. It’s fine if you have a 2 bed house or you’re closer to retirement, but that income with a bigger house, with these interest rates, is going to be a much bigger mortgage payment.

 

[dazzer6666]

Most people want to keep up with the Jones’s. That’s what kills most peoples’ finances.

This. Saw it time and time again in the City……worked with high (and very high in some cases) earners in relative terms but plenty living on credit because of daft expenditure. ’Competitive spending’ basically…….

 

[dazzer6666]

You’re being optimistic with some of these numbers. It’s fine if you have a 2 bed house or you’re closer to retirement, but that income with a bigger house, with these interest rates, is going to be a much bigger mortgage payment.

…..and add in a couple of car PCP payments and all of a sudden it doesn’t look so rosy

 

[luge]

Is that single income or joint? As I assume there would be additional income if both children are going to nursery?

Depends on the house you buy doesn't it? But a 800k+ house in a nice part of Brighton with 2 kids in nursery and assuming your partner isn't earning than yes it would be difficult, buy a smaller house in a modest part of Brighton it would feel more comfortable.

Live in a 2 bed flat and you would be cash rich but your flat would feel cramped and look like a bombsite so probably won't feel that well off even so.

If the partner is also earning 30-50k that obviously makes a big difference.

In answer to your question: Maybe.

It's a slightly dull debate this because people will always say "but what about the people who have no where near this amount'.

i remember 6 figures being this magical number in the mid 2000s when I properly started out. But to have the same spending power of 56k back then, you need 100+ now... And whilst salaries are starting to get there, we are looking at low % of population on them.