£50k just isn't enough anymore...

[ClintonB]

rover 623gsi said:

perhaps when they bought their house it wasn't worth £600k?

Even ignoring the housing situation, there's enough bull in that article to keep Pamplonians happy for many a year.

[fido]

rover 623gsi said:

perhaps when they bought their house it wasn't worth £600k?

If they bought over 10 years, probably paid less than £300k (say £250k and some refurb since), but me thinks they have geared up their lifestyle to their property wealth rather than actual disposable income. The dog can go for a start. So can one of the cars. Husband (or wife) can learn some plumbing so they don't have to keep calling the plumber out. I'm sure the kids can be put out to some sort of useful work - or to marry a prince.

[hornetrider]

[redacted]

[superkartracer]

Esseesse said:

Always found it strange that people on low/modest incomes

50k low/modest??

[Oakey]

[redacted]

[Laird]

fido said:

rover 623gsi said:

perhaps when they bought their house it wasn't worth £600k?

If they bought over 10 years, probably paid less than £300k (say £250k and some refurb since), but me thinks they have geared up their lifestyle to their property wealth rather than actual disposable income. The dog can go for a start. So can one of the cars. Husband (or wife) can learn some plumbing so they don't have to keep calling the plumber out. I'm sure the kids can be put out to some sort of useful work - or to marry a prince.

But what would their respective incomes have been ten yrs ago if they're only on £50k now? £300k is still a fair chunk of mortgage in anyone's book and unless they had a large deposit, I'm thinking perhaps something still isn't right.

Either that or banks have been giving away mortgages for a long, long time.

[theboyfold]

superkartracer said:

Esseesse said:

Always found it strange that people on low/modest incomes

50k low/modest??

That's the thing. Is it £50k before or after tax? The other man, the northern who is living the life of Riley is an MD of a firm, so I'd be suprised if he is on 'just' £25k before tax

[Laird]

theboyfold said:

That's the thing. Is it £50k before or after tax? The other man, the northern who is living the life of Riley is an MD of a firm, so I'd be suprised if he is on 'just' £25k before tax

Indeed.

I wish the Daily Mail would go the same way as the NotW, purely for being fking ste.

[ClintonB]

[redacted]

[superkartracer]

After reading the crap story it's all complete cobblers sorry.

[theboyfold]

superkartracer said:

After reading the crap story it's all complete cobblers sorry.

You expected something different from the Wail?

[superkartracer]

I guess the Milf was rather hot

[AJS-]

superkartracer said:

50k low/modest??

30K + 20K is two modest incomes. It's far from wealthy, and not nearly enough for that house, that car and 3 foreign holidays a year.

As the article suggests.

ETA: The article makes the other earth shattering observation that prices have risen in the last few years. If the Sewells did indeed buy their house 10 years ago I would guess that the prices have risen a lot faster than Mr Sewell's income.

Edited by AJS- on Monday 11th July 11:05

[PigFilth]

Presumably the R36 is a company car given his role, and therefore not something he can sell to buy a snotter.

[Oakey]

I'll say it again, they're not his kids. One could assume they might have been receiving significant maintenance from the real father which has now taken a hit as one of the kids is 17.

[elster]

I do love how they put that the £200k house would be worth £600k if it was where the £600k one was.

They could also say that both houses would be worth £1.5 million if located in Kensington Square, but they aren't so it's not.

This is a comparison of people living beyond their means and people living in their means.

[superkartracer]

AJS- said:

30K + 20K is two modest incomes. It's far from wealthy[/footnote]

It's also far from poor and 50k joint is still decent to normal folk , most normal families prob have one person working and main earner 20k or less.

House prob worth 250-300k 10 years ago and 50k + deposit so explains that.

Wealthy is when your assets make money for you rather than having many liabilities, a big wage/big house flash car does not mean wealthy.. far from it.

But i did say 50k was a decent joint income.

[ClintonB]

PigFilth said:

Presumably the R36 is a company car given his role, and therefore not something he can sell to buy a snotter.

Exactly, so they ain't on £50k a year. The car and likely associated fuel are a five figure sum on top of whatever their gross really is.
Also, how many company schemes would drive people to an R36 rather than a nice (or not!), sensible 2.0 TDi. That choice alone has to be costing the berk hundreds a month.

[Hitch78]

I often wonder about how much people earn - I passed 50k at about 28 and thought I'd made it but still felt skint after being taxed and paying 1k out on a mortgage. I never understood how others seem to consume so much on what I assumed to be similar or lesser salaries.

Perhaps massive massive debt is the answer?

[otolith]

AJS- said:

superkartracer said:

50k low/modest??

30K + 20K is two modest incomes. It's far from wealthy, and not nearly enough for that house, that car and 3 foreign holidays a year.

As the article suggests.

This is interesting - you need take-home income for it, though, not salary.

http://www.ifs.org.uk/wheredoyoufitin/

Tax & NI calculator:

http://www.pru.co.uk/guides_tools/calcs/income_tax...

30K + 20K + 1500/annum council tax + two teenage kids puts them at slightly above median income, better off than 52% of the population.