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How much in assets until someone is considered rich in the UK?

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    (Original post by yungaheartz)
    comfortable - enough to be able to pay their bills on time and buy groceries without having to struggle
    well off - enough to be able to pay their bills on time and buy groceries without having to struggle with some left over to save/spend on a little luxury
    rich - having enough money you know that it won't be a struggle for you to buy a house or a flash car
    extremely rich - having so much money you would wipe your ar$e with it
    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.
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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?
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    (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.
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    (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.
    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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