Forum | Wealthy by perchrockjack | Swansea Independent

Wealthy on 10:27 - Apr 20 with 1405 views

oopps.

contd, north west of England.

HOUSES. 500K wont buy you that great a house in most parts of London but it buys you a nice detached in west Yorkshire , Swansea or the north east.

You ll need 100K to be looking at buying a house there -ina decent area naturally.

Ergo, if youre house is worth 500k in London its not that big a deal, whereas in Swansea it is and in many other places.

Cost of Living in London not greater? We agree to differ then.

Saw a house not to far from us for sale with 8 bedrooms, gym,pool,orangerie,stables,staff quarters, etc etc cost £4m.To me that s a big deal.

Last week a programme about property developing featured a basement flat in WC8 that was basically derelict but was bought for 900K with a view to selling it for 1.2M. That's wealth, real wealth to be able to afford that outlay without flinching.

THESE PEOPLE wont be earing 150k per annum and they weren't footballers

As I say, its relative and dicky is right, people are a curse

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Wealthy on 10:28 - Apr 20 with 1405 views

Wealthy on 10:14 - Apr 20 by perchrockjack
That's true enough dicky and GOD help me, its the point I was trying to make before it drifted into the usual personal digs. Sorry, jacksomething I disagree. Cost of living in London far greater than south Wales or the

Yes, cost of living in London is greater than in South Wales. It's approximately 46% more expensive than living in Swansea apparently (35% more expensive than Liverpool btw).

Maths isn't my strong point, but I work out that means an equivalent wage in Swansea would be £81,000 and in Liverpool it would be £97,500. Someone earning that kind of money over a number of years would undoubtedly be considered wealthy in both areas on that kind of money.

As I said, £150k is a high salary anywhere in the UK.

Edit after seeing your 2nd post. I never said it wasn't more expensive to live in London, of course it is. It isn't so much more expensive that £150k wouldn't be very good money. I have family and friends in London who lead very comfortable lives on considerably less than that kind of money.

£100k for a house in a nice area of Swansea? You're so out of touch Perch. I'm about to list my house in St Thomas, a standard 2-bed terrace, and that's going on the market at almost £100k.

[Post edited 20 Apr 2015 10:33]

You know, Hobbes, some days even my lucky rocket ship underpants don't help.

Wealthy on 10:52 - Apr 20 with 1369 views

JS The 100K was meant as a salary per annum, not the price of a house.

I speak to my family back home pretty often so ,me ol mucker, I know whats going on down there and I ll find out where you live

and show you my train set.

Don't bang out about Liverpool as Ive not ever lived there and wouldn't as I love our peninsular which is very very different from Liverpool.

Wirral itself is very diverse.

You can buy a terraced house in Birkenhead for £50K, YOU CAN BUY ONE FOR SIX FIGURES, its truly bizarre and it comes from an area having had vast WEALTH but only for a few, the others, the "workers" if you like, lived in hovels.

Parts of the west Wirral have areas of old wealth from Cotton,Shipbuilding, Insurance and Shipping in particular where many of the ships captains built houses of 7/8 bedrooms with acres of land and staff quarters.

They are still in private hands and in top shape .In Liverpool, a lot of the old massive houses ended up in disrepair which led to Rachman landlords gorging themselves sick.

Many have now been regenerated and are yuppie style properties..

Frankly, I don't spend much time over there apart from shopping in the city and visiting friends In Sefton.

peace

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Wealthy on 11:32 - Apr 20 with 1349 views

Wealthy on 10:28 - Apr 20 by JackSomething

[Post edited 20 Apr 2015 10:33]

Weird that my first post on this site is on this subject but here goes...

I have to disagree that £150k p.a. is a high salary in London.
I know of 2 close friends who earn that kind of money in London (1 of them earns about £30k more) and I can tell you that due to the high price of property in London a couple in the Swansea bay area earning a combined income of £50-60k are considerably better off.
In terms of;
- Size of property
- Disposable income
- Quality of life

What do I mean by quality of life?

Transport - The Welsh couple are a 2 car family. Neither of my friends in London own a car.

Job Security - The Welsh couple I am thinking of both work for the state (Superior holidays, sick pay, pensions etc.). Both of my friends in London work for the private sector, one for a hedge fund another has his own business.

Schools - The Welsh couple's kids go to a rural school a 5 minute car journey away. Class size is 10. Everybody speaks English. In London the bloke who has his own business has to send his kids to a school that wasn't his choice (his kids are in the minority regarding the language...local muslim parents, a minority of radical types, are trying to ban the use of the guitar in assembly. I shit you not) .
The hedge fund bloke sends his kids to a private school to avoid all that. It costs a small fortune.

Crime - Where the Welsh couple live there is none. It's that simple. In London....need I go on.

Pollution - The bloke who has his own business brings his kids up 1 street away from one of the most polluted streets in Europe (we are talking air pollution, car exhausts). The Welsh couples kids are only at risk of breathing in cow shit fumes.

Health - The Londoners can't get to see their GP for days sometimes. The Welsh couple can see their GP that day. Always....free prescriptions as well.

I'm sure I can think of more but that's enough for now.

In short the Londoners who work in the private sector (who earn the most in this country and easily pay the most tax) are not getting a very good deal.
In both of the examples I gave the partners of these blokes are arguing to move somewhere else, taking a huge salary cut in the process, in order to obtain a better quality of life.....or WEALTH (as I see it)

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Wealthy on 11:49 - Apr 20 with 1335 views

Good post Jack

I also have met many who have eschewed London for the Wirral and flogged their standard suburban semi for a detached ,rural near coast and woodland but only 20 mins form large city.
Kids go to Grammar Schools which still thrive here and have excellent results
Have met none who would return to London

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Wealthy on 11:55 - Apr 20 with 1325 views

Lord_Bony

Wealthy on 11:32 - Apr 20 by Kerouac

Very true.wealth is subjective depending where you live. Believe me there are many people from the UK living in parts of the world on little money...but they live lives better than most millionaires would. Places like the Philippines,Nicaragua,Argentina,Costa Rica,Thailand,Goa. Etc etc.All that is needed is a little common sense and a few income streams which are EASILY achievable.

I plan to join them one day.

I also have friends,a married couple,living and working in Central London,she is in accounting and he in international finance.they work like dogs and make money for sure.but their quality of life compared to the people aforementioned is absolute garbage I would say.

Health and vitality are WAY MORE IMPORTANT than money. We all need money especially to live as we want to live ...but my point being is that you don't need a great deal of money these days to live a good alternative lifestyle...what is the difference between driving a brand new Bentley costing £220 k and a Ford Mondeo costing £3k...does it make you a hundred times happier? I don't think so....

Health is wealth.

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Wealthy on 11:57 - Apr 20 with 1323 views

Wealthy on 11:32 - Apr 20 by Kerouac

That's all very comprehensive, but you can see by what you've compared that £150k is still a huge annual salary.

The London couple don't need to own cars if they live in central London. They choose to send their kids to a private school, huge cost attached to that. I'm sure they live in a very nice home also.

If you're honestly trying to argue that a couple earning a combined £300k+ in London (which is what you seem to be saying) are financially worse off than a couple in South West Wales earning £60k, then you're barking mad. Or the couples in Wales are far more sensible with their money, the London couple must be literally pissing it away.

You know, Hobbes, some days even my lucky rocket ship underpants don't help.

Wealthy on 12:19 - Apr 20 with 1297 views

One mans Madman and all that...

I seem to have stirred a hornet s nest

oops sorry.

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Wealthy on 12:28 - Apr 20 with 1285 views

Wealthy on 12:19 - Apr 20 by perchrockjack
One mans Madman and all that... I seem to have stirred a hornet s nest oops sorry.

It's what a good forum is all about Perch. Nice job.

I agree with a lot of what's been said. Money or wealth doesn't necessarily make you happy, what is wealthy to one person isn't so to another, etc...

I will not accept however that £150k is not an excellent annual salary, no matter where you live in the UK.

You know, Hobbes, some days even my lucky rocket ship underpants don't help.

Wealthy on 12:44 - Apr 20 with 1270 views

Wealthy on 11:57 - Apr 20 by JackSomething

Nope.
Couple 1 = Mate who owns own business earns £130k + his partner who earns £50k. So £180k combined.

Couple 2 = Mate who works for a hedge fund £180k + his partner who earns £25k. So £205k combined.

Couple 1 RENT a poky 2 bedroom flat in a fashionable part of central London (near his business...which he spends nearly every waking hour on)

Couple 2 live in a 3 bedroom semi on the outskirts of North London. Tiny gardens, house needs a fair amount of work. Bought for about £650k.

Both couples spend their money carefully. Couple 1 are both highly educated sober people.
Couple 2 comprises 1 highly educated sensible partner (My mate, the bread winner) and one partner who doesn't have a degree but is a sensible, rational, nice human being.

No drug habits, no alcoholics, no holidays even!
Couple 1's idea of a holiday is a week in the Gower with friends (cheap), and he spends a chunk of his time on the phone or laptop tending to his business.
Couple 2 don't go on holiday (A sacrifice they have made in order to send their children to a decent school).
No lavish expenses.

Did I mention how much their education cost? The bloke in couple 2 has only just paid back all of the costs he incurred when studying law at University. He is in his early 40s.

I am saying that £150k is not a huge salary in London. It is in the average range there. They are not living in a tower block in Lambeth no, £150k buys them an average amount of material goods and a whole heap of stress (admittedly there are some advantages of living in a cosmopolitan, multi-ethnic city like London (mainly cultural and arts based).....but the couple in the Swansea bay area ARE better off.

Did I mention Child care costs? The Welsh couple I am thinking of have their parents around the corner who help with the childcare while they are at work. Virtually free.
Where I live the average cost of childcare is £4 an hour per child.
You can double that in central London.

I look around me and see lots of people pissing money away, a lot of the time this is only possible because they are subsidised out of our taxes. My mates in London do not come into that category. They, and people like them, are the citizens paying most of the tax.

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Wealthy on 12:46 - Apr 20 with 1265 views

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Wealthy on 12:52 - Apr 20 with 1259 views

Mr Keroac and I have not met even briefly but he seems to be articulating what I feel.

150k is very good salary in London but all things considered not one that can set you up for life as opposed to footballers (Proper Wealth) who are or can be made for life after just 1 season.

It IS relevant because its WEALTH we re discussing apart from humpty who simply wants to is me ff and Aquinas who hates pensioners -or so it seems ..
Talking of pensioners "enjoying" their pension, my missus and plenty like her got letters saying they ll be getting their pensions much later than previously. NOTE THERE HAVE BEEN NO STRIKES or social discord nor any offers of support for these people who have been royally shafted. "Enjoy your pension" --filthy comment

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Wealthy on 12:57 - Apr 20 with 1251 views

epaul

I guess me only earning only 20k and living in London I must be as poor as f*ck, although Im not money orientated, I own f*ck all,aside from a laptop and tv (lost everything after living with 2 nutters, my own fault I know)

However, 3 kids, 2 grandchildren, happiest I've ever been in my life, so I feel Im as rich as f*ck

As for working for the state, I thought that was a job for life until these f*ckers got in power, never count your eggs or whatever it is, funny enough i earned twice as much then and wouldnt change the job I have now for anything, totally stress free and love it

The hair and the beard have gone I am now conforming to society, tis a sad day The b*stards are coming back though

Wealthy on 13:06 - Apr 20 with 1242 views

Wealthy on 12:57 - Apr 20 by epaul

You need to have a word with your employer, apparently £150k is 'average' in London, so you must be well under minimum wage.

You know, Hobbes, some days even my lucky rocket ship underpants don't help.

Wealthy on 13:17 - Apr 20 with 1226 views

Wealthy on 12:44 - Apr 20 by Kerouac

I'm in my mid-thirties and am nowhere near paying off the cost of my education. The childcare comparison is odd. What if the London couples parents lived nearby? Then their childcare costs would be near zero also.

You're looking at it too specifically. Take two people just leaving university for example and have one of them to go take a job in London for £150k annually and another to go take a job in Swansea for £30k annually. Have them live virtually the same kind of life for 30 years and I would be staggered if the London person didn't have far more money in the bank.

Your dig at the end is odd. Are there no people in London pissing money away who are subsidised by our taxes then?

London is a more expensive place to live, no doubt. But so expensive that people earning two-thirds less in Swansea would be better off? Nonsense.

You know, Hobbes, some days even my lucky rocket ship underpants don't help.

Wealthy on 13:18 - Apr 20 with 1223 views

dickythorpe

People from "down here" have chosen to work in London due to the bigger salaries and more social opportunities - some sail through it others sink and return.....grass isnt alway greener.
I do know of a couple who lived in Finchley on a combined income of 170k - they took years to buy an affordable house.....but it was their choice to shun West Wales......

Wealthy on 13:21 - Apr 20 with 1218 views

Wealthy on 13:17 - Apr 20 by JackSomething

I'm dealing in reality, not theory.

2/3 less salary but subsidised, on top of living in an environment where costs are considerably cheaper.
e.g. Your childcare at half price.

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Wealthy on 13:35 - Apr 20 with 1195 views

Wealthy on 13:21 - Apr 20 by Kerouac
I'm dealing in reality, not theory. 2/3 less salary but subsidised, on top of living in an environment where costs are considerably cheaper. e.g. Your childcare at half price.

You mentioned childcare costs in London would be £8 an hour. Over a 9-hour day that adds up to £72, £360 a week. Some quick online research reveals that Regents Place Nursery ('London's most stylish nursery') charges £285 a week. So it looks like you were not dealing as much in reality as you suggest.

You know, Hobbes, some days even my lucky rocket ship underpants don't help.

Wealthy on 13:50 - Apr 20 with 1178 views

"I'm in my mid-thirties and am nowhere near paying off the cost of my education." - JackSomething

Exactly. Living in Wales on a lower salary means many don't ever start paying it back or make negligible contributions. This is to the Welsh economy's advantage...a back door subsidy.

If you live and work in London there is more chance of your salary being high enough that you will pay it all back.

So my mate will pay £40k or so over his career paying the cost of his education.
Whereas someone in Wales will more than likely pay only a portion of their University Education.

People in London earning £150k or so are paying lots of tax, receiving no subsidy and have a high cost of living.
They are far from poor but are not what I would call "wealthy".
I have seen it with my own 2 eyes so nobody could convince me otherwise.

These people, instead of being thanked for the efforts they make every day to earn high salaries in the private sector which generates so much tax (which sometimes involves the creation of more private sector jobs) are instead looked at enviously and told that they are rich / earn too much money / need to pay yet more tax.

It's a collective responsibility to generate more taxes for the services we feel we deserve.
It's the attitude that people in London earning £150k a year must be rich and don't deserve it that creates the atmosphere where it is ok for political parties to make big promises to voters which will be paid for by people earning circa £100k (for example).

Why should the 2 couples in London I mentioned have to pay more tax after the next election when they already have an inferior lifestyle to the couple in Swansea working in the Public Sector with a combined salary of £60k?
When they already generate more tax?
When 1 of the blokes involved has built a business which employs half a dozen people on good salaries which sells to the Chinese and Americans (what this country needs more of!) and has no time off?

What makes you think you've got the right to assume they must be pissing it all away?

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Wealthy on 13:57 - Apr 20 with 1163 views

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Wealthy on 13:35 - Apr 20 by JackSomething
You mentioned childcare costs in London would be £8 an hour. Over a 9-hour day that adds up to £72, £360 a week. Some quick online research reveals that Regents Place Nursery ('London's most stylish nursery') charges £285 a week. So it looks like you were not dealing as much in reality as you suggest.

I am dealing in reality.
Child minders in central London cost £7.50-£9 an hour.

So you found a nursery that charges less.
How many places are available? How do you know even if this nursery is a viable option for my couples' working day?

Actually, I'll save you the bother of replying.
I am not going to convince you and you are certainly not going to convince me (having witnessed this stuff first hand).
Nice debating with you.

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Wealthy on 14:00 - Apr 20 with 1159 views

waynekerr55

For some perspective when my Mrs goes back to work after childcare is deducted she'll have £11 of her pay left.

And that's in St Albans on the outskirts ðŸ˜·

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Wealthy on 14:03 - Apr 20 with 1153 views

monmouth

Wealthy on 14:00 - Apr 20 by waynekerr55
For some perspective when my Mrs goes back to work after childcare is deducted she'll have £11 of her pay left. And that's in St Albans on the outskirts ðŸ˜·

And your mission is...if you choose to accept it....convince her to spend that £11 on beer for you.

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Wealthy on 14:06 - Apr 20 with 1133 views