To somebody who has nothing a person with £100k might seem rich. To others it may be a Billionaire? Personally I see it as someone who can live comfortably but not extravagantly having saved hard or perhaps had the luck to invest wisely.
A 4 bed house in a nice area of London, Surrey or Kent could be £750k. Add in another £25k for a car. £10k furnishings. Having enough savings to generate £30k a year would need another £1m @ 3% interest. So perhaps a minimum of £1.785m.
To own planes, multiple homes, boats would surely need tens of millions.
Interested to what people think Rich means?
A 4 bed house in a nice area of London, Surrey or Kent could be £750k. Add in another £25k for a car. £10k furnishings. Having enough savings to generate £30k a year would need another £1m @ 3% interest. So perhaps a minimum of £1.785m.
To own planes, multiple homes, boats would surely need tens of millions.
Interested to what people think Rich means?
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