Sunday Times Rich List 2014

All I know is that there is a lot of people with serious silly amounts of money. It's becoming a "p*ssing contest".

However, living in London most of life, and I live almost in the City, which has allowed me to observe how the other half of the world live, what I have come to realise is that, even if you forget the billionaires and the millionaires, even without them, there are a lot of people in London (South East) with serious amount of money and income. I say this because I look at the lettings market in the City, and they rent out these places for what I call silly amounts of money. For them to rent these places at say even £3,000 or £5,000 a month, their income must be pretty big to sustain it! 

The only other thing is that the disparity between the rich and poor are getting bigger, and the number of people on the poverty line is also increasing. Sad but true.

Originally Posted by Barney

“...and need a new heating system  Just asking....”

or a forum 

I guess it's all relative. I couldn't afford to buy or live in London, but have a good standard of life in Warwickshire. Yet my mate has recently bought 30 acres and a large farm house in the Highlands for £60k, which is he is going to turn into his dream house.

You couldn't buy a lock up garage for that round here, and no doubt you'd spend that on parking fines in London 

Shall wait and see which way the Scottish vote goes, before deciding to emigrate and getting stung with an English git tax

@Steve, your mate is a good example. I don't know if he is rich or not. Nevertheless, his example shows that you don't really need to be rich to live a "good life". As we have said, it's all relative. To the person who is living day to day, that £60K is huge amount of money.

I know all I need to earn is probably around £1,500 a month, and I can go travelling around the world and live from country to country, comfortably, and that's with a family. I don't consider earning £1,500 a month a huge amount of money. So you really don't need a huge amount of money, once you have the essentials. That's just my opinion.

Again I suppose it's all relative. Him and his missus have worked incredibly hard building up a pub and hotel on the Whiskey trail, are (I think) debt free, making a very good living and now looking round for new projects and are enjoying life.

Without going all hippy or Buddhist, they are rich in the best way, financially secure and happy. But could they enjoy the same lifestyle further South, I suspect not. So as a UK average, I suppose they wouldn't be classed as monetary rich, but as long as they don't want to head south, then it's immaterial.

My missus regularly tells me we are rich, ie having a healthy family, roof over our head etc, which I know she does to curb my materialistic tenancies and keep life in perspective.

I'm more of a realist and a firm believer that money gives you options. The option to remove stress, ie pay the bills, the option to do nice things, holidays, travel, and the option to help others.

I guess as business owners, we tend to be more naturally materialistic, but you're right, how much you need is down to your own circumstances and I suppose to more of a degree where you live.

Spending £5k a month on rent in London seems madness to me, but if the respective salary is triple that, then £5k rent prob seems reasonable  Now imagine if they moved to Scotland!

You are right it's very relative. This purely my opinion, my own take on my own situation, and just in life in general, I think after I have the basics, I don't need a huge amount of money to survive as I don't have an extravagant lifestyle. Also, I have seen my previous generations spend all their life trying to accumulate wealth for the sake of it - without really enjoying. For me, money gives me the freedom. That's the main thing it does for me. I suppose it's true for a lot of people whether they realise it or not.

With you on this Ryan.

My father worked until he was 52, then he took early retirement due to ill health. He still didnt spend his savings until he eventually bought a 2nd home in Wales to use as a family holiday home - he bought the place in October 2007, got diagnosed with a brain tumour in December 2008 and died in the February aged 67, never having stepped foot in the house in Wales....

Live for the now, money in the Bank is great, but you can't take it with you!