Are you rich?

[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.

[Dunbar871]

For average PHers by age…

[Digger]

Dunbar871 said:

For average PHers by age…

Dollars for the average PH'er?

[okgo]

NerveAgent said:

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

would complete the look you think I am so desperate for, no?

This thread has delivered.

Edited by okgo on Tuesday 11th June 22:26

[NerveAgent]

okgo said:

NerveAgent said:

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

would complete the look you think I am so desperate for, no?

This thread has delivered.

Edited by okgo on Tuesday 11th June 22:26

I don’t think the image you are desperate for is a PCPing a car, that’s a you thing? I think you are too used to making your own reality

Edited by NerveAgent on Tuesday 11th June 22:32

[okgo]

NerveAgent said:

I don’t think the image you are desperate for is a PCPing a car, that’s a you thing? I think you are too used to making your own reality

Edited by NerveAgent on Tuesday 11th June 22:32

I’ve really lost touch with that you’re on about to be honest.

480 people polled and 88% are rich. What a forum.

[Ken_Code]

okgo said:

I’ve really lost touch with that you’re on about to be honest.

480 people polled and 88% are rich. What a forum.

It’s not representative of the UK as a whole.

There was a poster on here earlier who drives a Golf but was sneering at people who live in flats.

[okgo]

Ken_Code said:

It’s not representative of the UK as a whole.

There was a poster on here earlier who drives a Golf but was sneering at people who live in flats.

500 people? It’s pretty decent sample. Make up brands do TV advertising campaigns stating results with far less!

Golf TSi to you.

What was your old username btw? Why couldn’t you continue using your old one?

[RizzoTheRat]

soupdragon1 said:

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.

My parents did ok but weren't rich, they worked hard to send my sister and I to private schools up to GCSE level. I then went to a local ex grammar school for 6th form and met loads of kids I'd been at junior school with and had gone on to the local comp where I would have gone if I'd not gone private. None of them were doing A-levels in maths or science. Had I gone to that school I doubt any amount of top up tutoring would have got me to where I am today. I can definitely see why some parents are willing to sacrifice some luxuries to give thier kids a good start in life, and I'm very grateful that mine did.

[RizzoTheRat]

okgo said:

500 people? It’s pretty decent sample.

It would be a ok sample if it was random, but it's a sample of people who are members of a forum for people with enough disposable cash to spend on nice cars. PH is not representative of the UK as a whole

[NomduJour]

soupdragon1 said:

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

How about the people with £2k a month of cars on the drive and kids at wherever the local comp is?

[Ken_Code]

NomduJour said:

How about the people with £2k a month of cars on the drive and kids at wherever the local comp is?

We’ve nice cars, and houses, and send ours to the local state primary.

It’s in the top 1% of primary schools in the UK, and seems to be doing a good job with them.

[diametric123]

£2k is day school - most of the bigger boarding schools are around double that

[Harry H]

soupdragon1 said:

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?

Not so much a class thing but maybe held back by the wrong people.

Normal parents who are prepared to sacrifice £2k a month really care about their kids education(not to say others don't). The child will likely have a far better home life. The end result within the school is far better discipline and higher expectations not just in exam grades. The kids learn how to behave and how to get ahead with far less distraction as to how not to behave. The end result is usually better exam grades but it's far more than that, which extra tuition alone won't provide.

My daughter was privately educated up to GCSE's and then went to a state sixth form college. We live in a affluent area and supposedly the college was in the top 5 in the country. The difference was night and day. It was a real shock as to how little they cared about the welfare and education of the children apart from exam results. It was just a factory. New kids in one end. Tell them some stuff. Exams. Out the door.

I sometimes thought when wanting to give my child a head start is it better to give them a quality education or put the money aside and contribute to a house instead. The experience tells me private education every day.

[okgo]

There’s a fairly lengthy thread on private schools already running which contains many reasons for and against.

But one thing you’ll see in there is that many people are self assessing as ‘not loaded’ and the potential of a 20% fee hike will be a big issue.

[Harry H]

To me being rich is about getting to a standard of living that you are perfectly happy with and an income that exceeds your expenses.

So being rich is different for everyone.

Most of us are just in the trap of earning more to raise our standard of living to need to earn more. In reality a slightly better car, a slightly bigger house and maybe a more exotic holiday. As we get wealthier our expectation of what a decent standard of living is just grows. I like many others never seem to get rich no matter what the income.

To pluck a figure say £5m.Tucked away in savings, liquid.

To some that may seem beyond dreams, they'd be super rich. To others who over the years have built more expectation they'd worry about how they would survive. The house would have to downsize, the holiday villa in Tuscany would have to go and maybe the boat on the med as well. Laughable to the less well off but not to those who's lifestyle has grown.

Was reading about couple on £100k a year each that felt poor and struggling to make ends meet

A rich person is one that is very comfortable living within their means. Where as £120k in assets wouldn't get me through till the end of the year

[Countdown]

Harry H said:

<snip>
A rich person is one that is very comfortable living within their means. Where as £120k in assets wouldn't get me through till the end of the year

I think somebody can be "rich" by absolute standards, They might not "feel" rich but if they're earning in the top 1% / 0.5% / 0.00005% then by any reasonable standard they're rich. Just because you spend all your income (and more) doesn't necessarily make you poor

[okgo]

Countdown said:

I think somebody can be "rich" by absolute standards, They might not "feel" rich but if they're earning in the top 1% / 0.5% / 0.00005% then by any reasonable standard they're rich. Just because you spend all your income (and more) doesn't necessarily make you poor

To be vaguely realistic you’d need to be in the top % for your age and region etc, the difference between the top 1% male 40-45 in London to somewhere else is VAST (it’s something like 400k difference to national). And would explain easily how someone can be rich nationally but feel nothing of the sort locally.

All we see on here are folk living in more affluent/poorer than average areas and showing shock and awe at either end of the scale. Hence my comment about whatever you said a few pages back. There’s thousands of people within a 10 minute walk of my house paying for their kids school and with expensive house/car on the drive. I doubt any of them would class themselves as rich or they’d be living somewhere more expensive/in a larger house most likely. These people when plonked in Gosport would be among the wealthiest handful of people there.

[Ken_Code]

As above, much of the feeling of wealth and success is down to how well you are doing relative to the people around you at home and work.

The person with the detached house in a street of semis may feel a greater sense of affluence than the person with the “little” yacht in Monaco.