Are you rich?

[caziques]

At 67 I own almost nothing, as everything was put into a trust over 20 year ago - but this is NZ where there are no tax implications. ie no tax when assets go into the trust, no capital gains tax, no inheritance tax.

My three children are the beneficiaries, wife and I are the trustees, so my will only has say what will happen with personal stuff.

Well over 120,000 in the trust, basically large house and 400 acres of forestry.

So by one definition I am poor, by another rich.

[Ken_Code]

okgo said:

As it is, a flat in Tulse Hill isn’t likely where they wanted to end up. But these people are paying £2k a month per kid, they’re not rich.

If you live in Tulse Hill it’s probably best not to look down your nose at other people’s choice of home.

[anonymous-user]

Ken_Code said:

okgo said:

As it is, a flat in Tulse Hill isn’t likely where they wanted to end up. But these people are paying £2k a month per kid, they’re not rich.

If you live in Tulse Hill it’s probably best not to look down your nose at other people’s choice of home.

He looks down his nose because he lives in a semi. #winning

[okgo]

Ken_Code said:

If you live in Tulse Hill it’s probably best not to look down your nose at other people’s choice of home.

I don't but plenty who use the nursery I mention do, but you’d be surprised to hear that even TH is £1m for a house.

Anyway the point which was missed is that plenty of people have the money to pay nurse re fees but still live modestly in the scheme of things, there’s a few that probably have range rovers too, I doubt any of them would class as rich.

There is one who is from serious family wealth as it happens. They drive a completely mundane car but live in a £4m house. They’re probably ‘rich’ given the father is worth plenty according to a Google.

[okgo]

Zj2002 said:

He looks down his nose because he lives in a semi. #winning

Ironic you’re now following me round the forum doing what you took issue with me apparently doing.

Prat.

[NomduJour]

okgo said:

but still live modestly in the scheme of things

What scheme of things?

If it's measured by consumption, anyone living in a house they weren't given in Z1/Z2/even Z3, paying to send children through schools/nursery, having a couple of holidays a year and a reasonable car outside is pumping an awful lot of cash through the economy.

I know people who are well-off and people who earn a lot, but none of them are living like Elton John, the Cocaine Years.

[markh1973]

NomduJour said:

okgo said:

but still live modestly in the scheme of things

What scheme of things?

If it's measured by consumption, anyone living in a house they weren't given in Z1/Z2/even Z3, paying to send children through schools/nursery, having a couple of holidays a year and a reasonable car outside is pumping an awful lot of cash through the economy.

I know people who are well-off and people who earn a lot, but none of them are living like Elton John, the Cocaine Years.

The people that okgo was trying to say aren't rich are rich but they may not be wealthy.

And I still don't get his argument about rich people not living in flats. I'm currently sat in a flat worth 7 figures and it isn't even in Z8.

[okgo]

markh1973 said:

The people that okgo was trying to say aren't rich are rich but they may not be wealthy.

And I still don't get his argument about rich people not living in flats. I'm currently sat in a flat worth 7 figures and it isn't even in Z8.

The flat comment was fairly straight forward relating to people I was talking about, but I appreciate you were desperately looking for a way to mention you’re sat in an expensive one. Well done.

[Zolvaro]

okgo said:

The flat comment was fairly straight forward relating to people I was talking about, but I appreciate you were desperately looking for a way to mention you’re sat in an expensive one. Well done.

You ok Hun?

[okgo]

Zolvaro said:

You ok Hun?

Better than OK, bloody rich aren’t I.

[NRG1976]

You can smell the overwhelming stench of poor people on this thread, we should do some form of means testing to declare who can access which forum to avoid cross contamination…I’m going to lobby that all the poor people should have their own forum…then again I guess that is what NP&E is for

[Zolvaro]

okgo said:

Better than OK, bloody rich aren’t I.

Probably, but It's the internet you could be sat a hostel eating dog food out of can. Who knows

Edited by Zolvaro on Tuesday 11th June 19:47

[NerveAgent]

Zolvaro said:

okgo said:

Better than OK, bloody rich aren’t I.

Probably, but It's the internet you could be sat a hostel eating dog food out of can. Who knows

Edited by Zolvaro on Tuesday 11th June 19:47

I was thinking bedsit in Sunderland Unusual to see someone so desperate to portray an image.

[markh1973]

okgo said:

markh1973 said:

The people that okgo was trying to say aren't rich are rich but they may not be wealthy.

And I still don't get his argument about rich people not living in flats. I'm currently sat in a flat worth 7 figures and it isn't even in Z8.

The flat comment was fairly straight forward relating to people I was talking about, but I appreciate you were desperately looking for a way to mention you’re sat in an expensive one. Well done.

The flat isn't mine so doesn't bother me.

You implied rich people don't live in flats - it was nonsense then and is nonsense now.

[Countdown]

okgo said:

But these people are paying £2k a month per kid, they’re not rich.

I think this is where we differ; if you can choose to spend £2k per month on 2 or more kids plus another couple of grand on car payments (this is all non discretionary spending) then, on the UK Rich - Poor spectrum you are definitely near the rich end.

Just because someone spends all the money they have on what they consider essential and therefore feel “poor” doesn’t automatically mean they’re poor. It’s just a lack of self awareness. Or maybe just humble bragging.

[okgo]

NerveAgent said:

I was thinking bedsit in Sunderland Unusual to see someone so desperate to portray an image.

I would have to put some PCP chariot in my profile to achieve that, surely?

Mark - well done again on your expensive flat. Not relevant to the people I was talking about using the local nursery but well done again.

[Digger]

Earthdweller said:

markh1973 said:

okgo said:

Zolvaro said:

Welcome to Pistonheads bubble where you can be worth 5 or 10 million and apparently not be rich!!

People worth £5-10million quid wouldn’t be moaning about the running costs of a bloody car. Or the cost of children’s schools.


As I said, it’s a definition thing - but most people would not class some bloke with a Range Rover and 2 kids in a private school as rich without some other fairly large and obvious signs.


Also, plenty of people send their kids to paid for nursery and make it work. Many live in flats at ours . They’re rich are they? Don’t be silly.

Edited by okgo on Monday 10th June 13:32

Are you suggesting that no-one rich lives in a flat?

It’s okgo pistonheads resident Uber snob, he lives in a parallel universe

Just don't mention the Wetherspoons thread as he gets one hell of a tiny protuberance in the run up to posting on the thread . . .

errr I jest ?

Edited by Digger on Tuesday 11th June 21:53

[NerveAgent]

okgo said:

I would have to put some PCP chariot in my profile to achieve that, surely?

Mark - well done again on your expensive flat. Not relevant to the people I was talking about using the local nursery but well done again.

The shoulder shrug about cars seems to be part of your act, what would your PCP chariot achieve?

[soupdragon1]

Never got my head around the private schooling for those that aren't loaded. I can reconcile in my head when people have plenty of capacity to do so but for those that do it while sacrificing other things, I just don't get the maths.

£2k a month is a lot of payroll when compared to a private tutor to 'top up' or support optimum performance. Teachers aren't exactly paid well and I found that evening/summer tuition costs were very reasonable at £25 an hour.

Just 10% of that £2k and would get you 8 hrs a month, on top of the free education.

I'm not even sure if I spend £2k on extra tuition for my son's entire lifetime at school, let alone in a month.

I just don't get it. Is it a class thing, mixing with the wrong people, exposure to vaping/drugs/alcohol, or just a general fear? Surely normal school and top up tuition is a more cost effective way of optimising their performance?

[Ken_Code]

I can’t really get my head around anyone in London looking down on someone for living in a flat.

If you’re a young person in a professional career and earning hundreds of thousands or millions of pounds a year then a flat is surely the default choice.