How much in assets until someone is considered rich in the UK?
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Original post by James.Carnell
This is a funny one. What if someone earns a low salary (16k-20k) and lives at home with their parents, so they essentially save every penny that they earn, then reinvest this money to make even more money? At the same time, they may also have another side income also.
still makes them well-off, who else is ever able to save so much in their life?
Original post by yungaheartz
still makes them well-off, who else is ever able to save so much in their life?
Yeah, the "well off" category is fluid.
Whereas with the rich, very few people are rich. People like my Uncle are what you would consider rich. Multiple properties both here and overseas, a successful business for 30 years, lives modestly. I admire him but of course his offspring don't really have the values he has. There is a bit of a saying from my home country that by the third generation all the wealth is squandered in a successful family. When you don't earn it with your own blood and sweat it is more likely you don't really value it as much.
Original post by James.Carnell
Yeah, the "well off" category is fluid.
Whereas with the rich, very few people are rich. People like my Uncle are what you would consider rich. Multiple properties both here and overseas, a successful business for 30 years, lives modestly. I admire him but of course his offspring don't really have the values he has. There is a bit of a saying from my home country that by the third generation all the wealth is squandered in a successful family. When you don't earn it with your own blood and sweat it is more likely you don't really value it as much.
Whereas with the rich, very few people are rich. People like my Uncle are what you would consider rich. Multiple properties both here and overseas, a successful business for 30 years, lives modestly. I admire him but of course his offspring don't really have the values he has. There is a bit of a saying from my home country that by the third generation all the wealth is squandered in a successful family. When you don't earn it with your own blood and sweat it is more likely you don't really value it as much.
Very true, a friend is mine is the same. Never worked for it, always behaved as though she thought money grew on trees
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