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[Politics] Does earning £50k a year make you 'rich'

Does earning £50k per year make you 'rich'

  • I earn <£50k & Yes it does

    Votes: 36 15.2%
  • I earn >£50k and Yes it does

    Votes: 11 4.6%
  • I earn <£50k and No it doesn't

    Votes: 70 29.5%
  • I earn >£50k and No it doesn't

    Votes: 120 50.6%

  • Total voters
    237
  • Poll closed .


Chinman3000

Well-known member
Sep 28, 2011
1,267
After the budget yesterday there is lots of noise about the tax rate changes 'making the rich richer'

This is pretty much a duplication of a poll by Martin Lewis on twitter but does NSC think that earning £50k per year makes you 'rich'?

Poll to follow

EDIT - There's an error on the poll - last option should state 'I earn >£50k and No it doesn't'
 
Last edited:


Munkfish

Well-known member
May 1, 2006
11,861
After the budget yesterday there is lots of noise about the tax rate changes 'making the rich richer'

This is pretty much a duplication of a poll by Martin Lewis on twitter but does NSC think that earning £50k per year makes you 'rich'?

Poll to follow

No not as a single male in Brighton anyway. Maybe in lots of places around the rest of the country, you could have a comfortable lifestyle.
 


Gwylan

Well-known member
Jul 5, 2003
31,325
Uffern
After the budget yesterday there is lots of noise about the tax rate changes 'making the rich richer'

This is pretty much a duplication of a poll by Martin Lewis on twitter but does NSC think that earning £50k per year makes you 'rich'?

Poll to follow

It's pretty meaningless without knowing the circumstances.

If you're living in London with a spouse who doesn't work and with four kids, you may well be struggling. If you're single or living with a working spouse with no kids oop North; you're quids in
 


happypig

Staring at the rude boys
May 23, 2009
7,935
Eastbourne
My and Mrs H combined are in excess of that and we don't feel rich. Comfortable, yes but we still have a mortgage for now. We do have 2/3 (modest) holidays a year and share a 3 year old car.

I consider myself very fortunate in that I've had the opportunity to work hard and a couple of breaks where I took a chance on my job and they worked out ok.
 








studio150

Well-known member
Jul 30, 2011
29,555
On the Border
No £50k a year does not make you rich, given that you will pay £13k in tax and NI, which means a net £37k.

Yes some will see £3k a month as making you rich but it doesn't compared to higher earners. If the £50k job is in London you need to then factor in higher commuting costs or higher housing and living costs, which will reduce your disposable income even further.
 


Denis

Well-known member
Mar 25, 2013
543
Portslade
No it doesn’t make you rich. One son is an aircraft engineer on over 50k, gets no child benefit, has large mortgage, only lives in Shoreham, three bed house. Other son and daughter-in-law both teachers, combined pay over 50k, also big mortgage, but get child benefit for their two children. No one living in Sussex trying to buy a house is rich!
 








Live by the sea

Well-known member
Oct 21, 2016
4,718
Not even remotely. If you have a nice house in Brighton and Hove, a holiday apartment in Spain, 3 kids at private school , 2 mercs, like a few holidays a year , eat out twice a week at decent places, go to occasional concerts and theatre etc , even £150 k a year just about pays for everything !! I need £250 k plus a year to consider myself rich..
 




Commander

Well-known member
NSC Patreon
Apr 28, 2004
12,787
London
I was wondering this earlier. I guess it depends on where you live in the country. I certainly don't feel rich, but maybe I would if I lived in Hull or somewhere. I can't really understand how a family of 4 can live a good standard of life with a household income of much less than £50K in the South East. And that sort of lifestyle is definitely not what I would consider 'rich ' people to live.
 




Gwylan

Well-known member
Jul 5, 2003
31,325
Uffern
No not as a single male in Brighton anyway. Maybe in lots of places around the rest of the country, you could have a comfortable lifestyle.

I don't know about that. If were single I'd consider myself well-off on 40k let alone 50k. I'd probably trade by house for a flat and give myself about two grand spending money every month.
 




Bakero

Languidly clinical
Oct 9, 2010
13,682
Almería
Not even remotely. If you have a nice house in Brighton and Hove, a holiday apartment in Spain, 3 kids at private school , 2 mercs, like a few holidays a year , eat out twice a week at decent places, go to occasional concerts and theatre etc , even £150 k a year just about pays for everything !! I need £250 k plus a year to consider myself rich..

If you have a nice house in Brighton, I'd say you're rich. If you have the other stuff as well then you're very rich.
 


Springal

Well-known member
Feb 12, 2005
23,714
GOSBTS
Depends what 'rich' is. I'd say even £75k+ down here you can be comfortable but certainly not 'rich'
 


Tim Over Whelmed

Well-known member
NSC Patreon
Jul 24, 2007
10,165
Arundel
I guess it depends on how you define "rich", I've a mate who earns £30k a year working PT and has four full days a week with his kids, he defines himself as rich to be able to do this.
 


Tim Over Whelmed

Well-known member
NSC Patreon
Jul 24, 2007
10,165
Arundel
There's an older lady in Arundel (well many in this position actually) that live on their own in a £1m+ house but struggle because the upkeep, utilities etc, but don't wish to sell the family home. They could sell it and buy a nice riverside apartment for £280-£340k and have a stack of cash but wouldn't consider themselves as rich as they are today.
 









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