Year 12s: what will be the first way you research your future options? >>

When would one start to be considered rich?

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Well he could earn 500k/year if he got a top position at a investment firm. :P I would love to earn this much one day. I wouldn't spend a majority of it and instead invest into property and get a passive income. My parents are getting 4.7% return a year on the house we rent out plus property prices are increasing.

Man 500k a year *o* Those are dem dreams. Though breaking past 200k is difficult :tongue:

Reply 61

Imperion

Original post by ChickenMadness

lol at how spoilt tsr children are

"2 million pounds = not rich"

2 M is upper middle class tbh. Not saying it's little, but won't get you into the 1%

Reply 62

Fullofsurprises

Original post by ibzombie96

Not liquid enough. I have many friends from old money backgrounds who have net worths in the tens of millions, yet live like paupers as their money is in property, not cash.

They are still rich though. Being unable to quickly liquidate assets does not mean that you don't own the assets. Wealth can be inaccessible in a hurry, but it is still wealth if it can be obtained in some sort of time frame. Also I am sceptical that they truly live as paupers yet have substantial properties, etc. With properties come rents, trusts, etc, etc. Some people choose to live in a poor way so as not to disturb rising investments, but that is very different to being a 'pauper'.

Reply 63

kendellex

Original post by Imperion

Inherit your parents spending skills. They're really beast. 15k with a family, and they aren't complaining, that's an achievement.
What university are you at and what're you studying, if you don't mind. :smile:

I'll definitely be asking for tips 😂
University of Nottingham during Natural Sciences and then planning to do Graduate Entry Medicine 😊

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Reply 64

High Stakes

When you don't have to 'worry' about money and you're not relying on any individual(s) (e.g. parents).

Reply 65

Imperion

Original post by kendellex

I'll definitely be asking for tips 😂
University of Nottingham during Natural Sciences and then planning to do Graduate Entry Medicine 😊
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Don't forget to share some with me! :biggrin:

Nice

Going into research or to be a doctor after your graduate degree?

Reply 66

NathanAllen

Original post by Andrew657Thomas

Having a job that pays 60k+ A year

Then my family is rich.

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Reply 67

hihihihihi

Original post by Imperion

Man 500k a year *o* Those are dem dreams. Though breaking past 200k is difficult :tongue:

I know right.

Unless you are a top investment banker/CEO of a multinational/sports athelete. :tongue:

Reply 68

Imperion

Original post by hihihihihi

I know right.

Unless you are a top investment banker/CEO of a multinational/sports athelete. :tongue:

Yep

That pic speaks the truth.

Reply 69

picklescamp

Original post by hihihihihi

I know right.

Unless you are a top investment banker/CEO of a multinational/sports athelete. :tongue:

That's what said guys dad does :lol:

can't imagine it's a fun job though

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Reply 70

hihihihihi

Original post by picklescamp

That's what said guys dad does :lol:

can't imagine it's a fun job though

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Which guy?

Reply 71

username1500433

Original post by SotonianOne

You mean all of the country below Birmingham?

I do, yes.

tbh even north of Birmingham I seriously doubt there are many places you can get a 4 bed semi for 45K. Plenty of areas in the north where prices are sky high in some cases exceeding the south.

Reply 72

Tom.x.Gotze

Original post by hihihihihi

I know right.

Unless you are a top investment banker/CEO of a multinational/sports athelete. :tongue:

Really depends on where you start off from (I think inheritance matters a lot) and your own abilities to expand on that that base.

If you have assets that are earning you money without you even working, then that is the golden lifestyle I think.

Reply 73

trustmeimlying1

Original post by kendellex

I live in a 3 bedroom semi detached... Is that a shed to you?

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4 bed @ 45k is most places.

Reply 74

hihihihihi

Original post by Tom.x.Gotze

Yes I know. Returns from investments are passive income, that picture mentions working from 9 to 5 (job). That is why I didn't mention business owners.

Reply 75

kendellex

Original post by trustmeimlying1

4 bed @ 45k is most places.

You definitely live in an expensive area. Our average house price £145k.

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Reply 76

username1500433

Original post by kendellex

You definitely live in an expensive area. Our average house price £145k.

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I'm confused. You say the average house price in your area is £145K but you also said you can get a 4 bed semi for £45K?

Reply 77

Thisguy11

When you directly benefit from the Tories being in power

Cause everyone gets cuts
Poor get spending cuts
And rich get tax cuts

BTW: Tax cuts can help the economy, but so can government spending