Who earns 80 grand?

[boboneleg]

Ok, Ill come clean on this one. I am one of the lucky ones and my job is to do Wealth Management for people with a minimum bank balance of £250,000. Let me tell all of you a secret, in the 11 years of doing my job, there are very few of them that are happy!

Yes they have nice things, yes they have good holidays, but they stress all the time about their money, they are neurotic about who their friends really are and paranoid about finding love (money or is it real).

Money changes you...be grateful for who you are, money isn't everything, believe me!

I reckon that's bang on mate, I see lots of people 'chasing the dollar' none of them look very happy to me.

[-Ralph-]

Ok, Ill come clean on this one. I am one of the lucky ones and my job is to do Wealth Management for people with a minimum bank balance of £250,000. Let me tell all of you a secret, in the 11 years of doing my job, there are very few of them that are happy!

Yes they have nice things, yes they have good holidays, but they stress all the time about their money, they are neurotic about who their friends really are and paranoid about finding love (money or is it real).

Money changes you...be grateful for who you are, money isn't everything, believe me!

(thumbs) (thumbs) (thumbs)

Success is not measured in your bank balance, it's measured in yourself, your partner, your kids, your life, your happiness. If you have happiness you are amongst the luckiest in the world and enjoy every minute of it because it could get wiped out in a car crash tomorrow.

I often wonder what lucky hand I played and my biggest fear in life is that one day something beyond my control comes along that takes it away. I've just had my ability to run or jump taken away, but f#*k that because I still have everything else so it's minor.

[Brads]

EArned at least 80k a year for the last 10yrs and 100k last year, but have given it up and will be lucky to see 35k this year.

When I earned the decent money I wasn`t rich, just comfy. The income tax on the 100k was 32k a year , deductions meant I took home 58k in my bank account.

Not worth it for what I was doing so I went for an easier life on less cash.

80k isn`t a massive wage. My friend and his wife earn 35k each but pay individual tax so took home a lot more than me.

Self employed folk don`t pay tax so if I could have went that route I`d have been properly loaded.

[-Ralph-]

Self employed folk don`t pay tax

[Trev]

E.

Self employed folk don`t pay tax so if I could have went that route I`d have been properly loaded.

Wow, that's a bit of a sweeping generalisation :blink: Some, for sure, don't pay much if any tax but I would say that the vast majority of self employed people (at least here in the UK) pay tax although not as much tax as someone in employment of a company or business. Of course they don't enjoy all the 'benefits' of being in employment (such as paid bank holidays, etc) so this is partly offset.

[gazxt1200z]

80k isn't a massive wage,get in the real world,it would take me 8 years to earn that much.

[Philiptigerrice]

I know a lot of people who earn huge sums - some are millionaires.
I also work in an industry where lots of guys earn around, and over the £80k mark.
Almost all of the millionaires, have set up from scratch, businesses and companies and they have worked 70 or 80 hours a week, for decades to get there - and most of their wealth is actually tied up in capital projects or property - very few of them actually have much cash. All of them employ tens of people and have enormous responsibilities to their workforce and pay decent salaries, pensions, and massive tax contributions.
Labour want to tax them to death. They want minimum wages up to £10 an hour...
So - is that right - that if you built your own company you get to keep less and less and less of it- but the young lad who potters around sweeping up, gets £10 an hour?
Is it right that they pay a massive 25% corporation rate?
And then get taxed on their own take home pay at 50% again?
Where's the point in setting up the business if you don't reap the benefits?
Two friends pay for their kids to goto Private Schools - and Labour want to tax them on that too. The fact that they pay their tax and council tax and keep two other local school places free - is lost...
They might as well shut the buisnesses down, and move the kids to state school.... and lay all their staff off. :blink:
We vilify and demonise anyone who does well for themselves in this country - it drives me crackers.
We talk about "The Rich" like its a secret society of evil henchmen and witches, hell bent on fucking society over.
In the USA if you do well, its celebrated - here we have to hide it and be ashamed of it.
The guys I know in industry, that are on or around the £80k mark, aren't super rich....
Most of them are in Oil and Gas - and work in dangerous locations working 12 hours a day in dirty shitty conditions for 6 months of the year, doing almost twice the working hours of somebody who does a 9-5 job.
Most of them, their wives don't work - so they aren't as well of as say, a couple who both earn £35k a year, as their tax burden is much lower....
So they might earn £80k, but their household income isn't huge overall.
It just seems wrong to me - that the more you put in - and the more you get out - the more we hate you, and the more we want to pull you down

[XTChris]

Labour want to tax them to death. They want minimum wages up to £10 an hour...

So - is that right - that if you built your own company you get to keep less and less and less of it- but the young lad who potters around sweeping up, gets £10 an hour?

Is it right that they pay a massive 25% corporation rate?

Unless I have missed something since 2015 - the Tories have already promised a National Living Wage of £9.00 so not too dissimilar.

I was bored yesterday and looked at the amount the UK takes in Tax and where it gets it from. I was surprised how little of this comes from Corporation Tax. £40billion = 5%. Compare this to Income Tax at £182billion (25%) and NI is £126billion (18%). Even VAT is 3 times more at £120billion.

Do I believe in bashing millionaires, no. Good luck to them. The country needs successful and enterprising people. But then I don't agree with hounding the poor and disabled either. Being bike riders, many of us need to remember we are only one wrong turn from possibly being one of them.

[Trev]

80k isn't a massive wage,get in the real world,it would take me 8 years to earn that much.

What the heck do you do that only earns you £10k a year, please tell me you're only working part time otherwise someone is seriously shafting you on wages?

[Brads]

80k isn't a massive wage,get in the real world,it would take me 8 years to earn that much.

80k isn`t a massive wage, it`s simply that your wage is extraordinarily tiny.