4 ms·

> Income does not equal wealth. 100% agree. You can have a high income and choose to live beyond your means preventing you from accumulating wealth. We're deb

• varispeed 4y ago
  > Those on £150k+ are in the 98th percentile. This metric is no longer meaningful, as in 99th percentile you'll have someone making £1.5m+, which is a world's difference. > You can have a high income and choose to live beyond your means preventing you from accumulating wealth. What I described wasn't living beyond one's means. It would be that if a person started engaging in taking loans and credit cards and buying things they can't really afford etc. Simple living adequate to earnings, at a £150k, won't make you rich.
  • nerdawson 4y ago
    > This metric is no longer meaningful, as in 99th percentile you'll have someone making £1.5m+, which is a world's difference. We're debating various degrees of rich. If you earn more than 98% of your working peers, I don't know what else you could call that. People make choices with their money. Living alone in an expensive city is a choice. If you choose to do that on £150k, you're going to have far less disposable income than others on that same salary making different choices. I have very little sympathy for people who blow all of their income funding a lifestyle they can't afford to project the appearance of wealth and status.