Any point in not just taking out a large mortgage?
Discussion
pauldavies85 said:
Not much help but as a dentist qualified in the past decade, very few earn 100k let alone easy.
Maybe a older practice owner who hasn't got 500k or more of loans to pay off!
And dentists have never had final salary pensions, as they've never been employed by the
NHS. they are self employed contractors, associates such as myself are privately reimbursed by the practice, GP's work much in the same way.
You will know more than me.Maybe a older practice owner who hasn't got 500k or more of loans to pay off!
And dentists have never had final salary pensions, as they've never been employed by the
NHS. they are self employed contractors, associates such as myself are privately reimbursed by the practice, GP's work much in the same way.
However a quick Google shows many dentists do qualify for a DB pension.
Many dentists I have heard of have a couple of practices or something and get private and nhs income.
I have no idea how it works but I could bet a lot that some dentists have DB pensions.
jonah35 said:
Even someone earning £100k could save what, £1-2kmper month? It would take an entire working life to save up that £300k.
I love that phrase. Even someone earning 100k! Even someone earning as little as that eh? What the f
k do the other 99.9% of the working population do? jonah35 said:
vxsmithers said:
[quote=jonah35
I look online at these payscales for financial directors, pilots, nurses, teachers etc and they all seem far lower than reality.
My favourite quote. How can online salaries not be linked to reality? How much do you think a real life nurse earns???I look online at these payscales for financial directors, pilots, nurses, teachers etc and they all seem far lower than reality.
Or an FD for that matter. Genuinely interested
Not every online survey is correct!
Your point about working hard and reaching the top of a profession is also true but there really arent that many positions to chase.
abundant city jobs and cheap money cant last forever. I hope you never feel the pain of redundancy or high interest rates because ive seen people who earn 100k begging for money 3 months after losing their jobs as they thought it would never happen to them.
Condi said:
I love that phrase. Even someone earning 100k! Even someone earning as little as that eh?
What the fk do the other 99.9% of the working population do?
You've still not got it have you? The demographics are wrong. Everyone in this country earns at least £100K p.a. and those people who appear to earn less do not really it's just that they declare less to the taxman:What the f
k do the other 99.9% of the working population do?jonah35 said:
The pay scales for plumbers and electricians etc are low because they want to declare low incomes. ... some lawyers earn over £100kpa, some dentists do, many contractors earn £600 per day, traders can earn a lot too.
now you can see why an extra £20 billion p.a. from stamping down on tax avoidance will be easy for all of the main parties. Is the OP an MP? He'd have a whale of a time in there 
jonah35 said:
Even someone earning £100k could save what, £1-2kmper month? It would take an entire working life to save up that £300k.
My point being that all these people feel that house prices will only go up and, if this is the case why bother doing anything but take out a large mortgage. Eg a £500k house in London going up to £800k is £300k tax free. That is a lifetimes saving for most people. Even someone earning £100k could save what, £1-2kmper month? It would take an entire working life to save up that £300k.
Someone on 100k could comfortably save 3k a month if they really wanted to - but yes, with house prices going the way they are it would definitely make more sense paying a couple of grand towards a mortgage instead, in London at least.My point being that all these people feel that house prices will only go up and, if this is the case why bother doing anything but take out a large mortgage. Eg a £500k house in London going up to £800k is £300k tax free. That is a lifetimes saving for most people. Even someone earning £100k could save what, £1-2kmper month? It would take an entire working life to save up that £300k.
Condi said:
jonah35 said:
Even someone earning £100k could save what, £1-2kmper month? It would take an entire working life to save up that £300k.
I love that phrase. Even someone earning 100k! Even someone earning as little as that eh? What the f
k do the other 99.9% of the working population do? Neil H said:
Someone on 100k could comfortably save 3k a month if they really wanted to - but yes, with house prices going the way they are it would definitely make more sense paying a couple of grand towards a mortgage instead, in London at least.
100kpa nets down to about £5k a month. I'd love to know how someone working in London could then save £3k a month of that! Muncher said:
toohangry said:
100kpa nets down to about £5k a month. I'd love to know how someone working in London could then save £3k a month of that!
I've stopped working in London recently but on a £100k salary I would have been saving about £3k a month.I think the issue is that many people on here do not work in London, and do not earn those salaries, or is there even any way to earn those salaries.
As someone said a few pages back, its not that uncommon within London in the right professions. Its not 'common' as per internet surveys but if you're a professional yourself then you'll like have been to a decent uni and got mates who are of the same ilk, so its not exactly hard to think that someone in a group on a decent salary is surrounded by the same type of people.
Its not limited to bankers and lawyers either, recruitment, salespeople in the right business, middle management in all sorts of sectors, etc etc.
As someone said a few pages back, its not that uncommon within London in the right professions. Its not 'common' as per internet surveys but if you're a professional yourself then you'll like have been to a decent uni and got mates who are of the same ilk, so its not exactly hard to think that someone in a group on a decent salary is surrounded by the same type of people.
Its not limited to bankers and lawyers either, recruitment, salespeople in the right business, middle management in all sorts of sectors, etc etc.
Muncher said:
toohangry said:
100kpa nets down to about £5k a month. I'd love to know how someone working in London could then save £3k a month of that!
I've stopped working in London recently but on a £100k salary I would have been saving about £3k a month.Bluebarge said:
But if you've recently (last 10 years) had to buy a reasonable-sized family home within 40 minutes commute of London and have a commensurate mortgage to pay off, have kids to pay for, plus a rail season ticket, plus usual outgoings, then you would struggle to save more than £500-1k pcm; IME.
I'm factoring in a large house and 1:15 commute on the train and season ticket costs. My travel costs included our living expenses combined wouldn't be more than £3,200 per month including bills, foot, football tickets, cars etcTA14 said:
Condi said:
I love that phrase. Even someone earning 100k! Even someone earning as little as that eh?
What the fk do the other 99.9% of the working population do?
You've still not got it have you? The demographics are wrong. Everyone in this country earns at least £100K p.a. and those people who appear to earn less do not really it's just that they declare less to the taxman:What the f
k do the other 99.9% of the working population do?jonah35 said:
The pay scales for plumbers and electricians etc are low because they want to declare low incomes. ... some lawyers earn over £100kpa, some dentists do, many contractors earn £600 per day, traders can earn a lot too.
now you can see why an extra £20 billion p.a. from stamping down on tax avoidance will be easy for all of the main parties. Is the OP an MP? He'd have a whale of a time in there vxsmithers said:
jonah35 said:
vxsmithers said:
[quote=jonah35
I look online at these payscales for financial directors, pilots, nurses, teachers etc and they all seem far lower than reality.
My favourite quote. How can online salaries not be linked to reality? How much do you think a real life nurse earns???I look online at these payscales for financial directors, pilots, nurses, teachers etc and they all seem far lower than reality.
Or an FD for that matter. Genuinely interested
Not every online survey is correct!
Your point about working hard and reaching the top of a profession is also true but there really arent that many positions to chase.
abundant city jobs and cheap money cant last forever. I hope you never feel the pain of redundancy or high interest rates because ive seen people who earn 100k begging for money 3 months after losing their jobs as they thought it would never happen to them.
Condi said:
jonah35 said:
Even someone earning £100k could save what, £1-2kmper month? It would take an entire working life to save up that £300k.
I love that phrase. Even someone earning 100k! Even someone earning as little as that eh? What the f
k do the other 99.9% of the working population do? Muncher said:
Bluebarge said:
But if you've recently (last 10 years) had to buy a reasonable-sized family home within 40 minutes commute of London and have a commensurate mortgage to pay off, have kids to pay for, plus a rail season ticket, plus usual outgoings, then you would struggle to save more than £500-1k pcm; IME.
I'm factoring in a large house and 1:15 commute on the train and season ticket costs. My travel costs included our living expenses combined wouldn't be more than £3,200 per month including bills, foot, football tickets, cars etcGassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff