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Legal & money

Who do you consider rich?

(83 Posts)
annsixty Fri 27-May-22 10:29:39

Rishi S has suggested that the rich give up their £400 give away.
What is rich?
£100,000 a year, £50,000 a year or much much more?
To whom do you give it anyway.
Charity, a family you know, your own family maybe.

MerylStreep Fri 27-May-22 10:37:01

You’ve got me thinking ann

GagaJo Fri 27-May-22 10:39:34

Gift to a food bank would be good.

Blossoming Fri 27-May-22 10:39:36

My rich list.

The Queen
Rishi Sunak
Jacob Rees Mogg
Michael Gove
Nadia Zaharia
Priti Patel

Doodledog Fri 27-May-22 10:46:02

Usually, I think people see 'the rich' as those with a bit more than them. So, if your household income is £30k, someone with £50k a year seems rich, even though that is less than average for a two earner household.

It's why so much of the 'they can afford it', or 'she doesn't need it' that we hear whenever a universal benefit or grant is mooted is so ill-informed.

Callistemon21 Fri 27-May-22 10:52:29

GagaJo

Gift to a food bank would be good.

It depends.

How rich is rich?
Is rich being able to afford to eat and heat your home? Clothe yourself and own a car?
Despite having not much in the way of savings?
Having savings which might then be needed for care one day?

Or is rich having so much wealth you couldn't possibly spend it all in your lifetime?

If helping family and one child is wealthy but one is struggling do you divide it equally because that is the fair thing to do as a parent?

Callistemon21 Fri 27-May-22 10:53:55

I didn't mean to quote your post, Gagajo - I was going to say something about food banks then changed my mind.

Sago Fri 27-May-22 10:55:59

I am fortunate enough to have never worried about hearing our home or feeding our children.
That makes me rich.

nanna8 Fri 27-May-22 10:58:10

I’d say owners of multiple properties and/or companies who don’t work for anyone, just themselves. Some of our friends are like that and good luck to them, they (mostly) earned it through hard work and sacrifices in their earlier years.

Kim19 Fri 27-May-22 11:24:07

Rich for me is income of £500,000 plus.

Germanshepherdsmum Fri 27-May-22 11:31:36

But to me it isn’t. It’s all down to personal perception.

Mollygo Fri 27-May-22 11:34:51

Rich is those who wouldn’t miss the £400 because they can spend that in less than a week and not notice.
Who would I give it to?
Food banks seems to be the most equitable answer as it would be less likely to be swallowed up in admin costs and benefit those most in need.
There are so many causes.
So many different situations.
For example, you can have an income of £50,000, but now have children studying at Uni in London and elsewhere which, along with your £1,000+ pm mortgage and utilities rail/bus/transport fares to work and still be grateful for the bonus.
Personally I’d give it to one DD as we already need to be on call for emergencies.

Georgesgran Fri 27-May-22 11:36:25

Should it be rich or wealthy? To me rich is also to do with quality of life, as well as money. I think being rich is having more than enough and a bit to spare.
Wealthy to me means having invested money/had inheritance/bought property.

Jaxjacky Fri 27-May-22 11:37:14

For me rich is people who don’t have to think about buying what they want, not need, want. New car, designer dress, holiday, meal out for example.

GrannyGravy13 Fri 27-May-22 11:44:06

I honestly do not know where rich kicks in.

Obvious multi millionaires/billionaires are tich if you have a mortgage, big house to upkeep, children at home and a car to run £75,000 pa would suffice but I doubt there would be much left over.

AGAA4 Fri 27-May-22 11:58:39

Some people consider themselves poor. A neighbour has a very nice house in a lovely area. He rents out two properties that he owns, runs a brand new mercedes and has had 3 holidays abroad already this year.
According to him he is poor.

annsixty Fri 27-May-22 12:24:44

I have just read that second home owners will receive the payment for both homes.
More for the well off once again.

GagaJo Fri 27-May-22 12:29:30

It'd make an enormous difference to food banks if anyone not desperate for the money gave a tenner to their local food bank. More if they can afford it.

Grandma70s Fri 27-May-22 12:35:30

To me, rich means not having to work for a living. The money is just there in the family, inherited.

If you look at the SundayTimes Rich List, most of the people are not well known names. The Queen is quite a long way down.

JaneJudge Fri 27-May-22 12:36:12

Rishi Sunak is rich

dragonfly46 Fri 27-May-22 12:38:40

I agree with Molly the rich are those who do not need £400. We shall be giving ours away along with the money we give regularly to charity every month.

dragonfly46 Fri 27-May-22 12:39:28

Just to be clear we are nowhere near Rishi's league - we just do not need that money mainly because we do not spend much.

Grandma70s Fri 27-May-22 12:41:33

I believe it is Rishi Sunak’s wife who is very rich.

Mattsmum2 Fri 27-May-22 12:47:38

As I understand it being rich can mean having money but generally spending it. People who are wealthy tend to retain their wealth and make wise investment decisions.

M0nica Fri 27-May-22 13:38:36

Molly spot on. It applies to us as well. We, too, have been wondering what to do with it, but I think we should not be receiving it in the first place. If this largesse was spread more carefully, including extra for those on state pension, the debt this country is building up, which needs to be repaid sooner or later and accummulates interest, would be lower.

We have seen with COVID how the PM and Chancellor went scattering money as if they had a convenient money mine, and as we know now, however much good it did to many. Significant amounts were paid to dodgy coomoanies and, as we know, from audits taken place, the amount of fraud in the schemes and in the benefits system itself were very high.

All that money could have been saved or put to better use elsewhere. If I do anything with the money, I think I will return it to the Treasury, for the good of the country asna whole, not just my pet charities.