Couple earning €105,000 p.a.

Ellie2008

Are they considered wealthy or middle income?

Middle income, I'd say.

Frosty McSnowballs

Poor bastards must be on minimum wage.

suicide_circus

Did this couple meet in coppers by any chance?

Valetta

Wealth and income are different things.

A couple with 105k income that spends every cent and has no savings are certainly now wealthy.

A couple with 75k income that save hard, bought property at the right time, got lucky with shares etc. and have a net worth of 500k could be considered wealthy.

tritium

Valetta wrote: »

Wealth and income are different things.

A couple with 105k income that spends every cent and has no savings are certainly now wealthy.

A couple with 75k income that save hard, bought property at the right time, got lucky with shares etc. and have a net worth of 500k could be considered wealthy.

What they said ^^^^°>. More detail is needed here. Do they have any children? If so what ages are they? A boom time mortgage? What's their minimum expenditure for commute to work? Do they have any adult dependents- elderly parents etc? Single or dual income household?

Depending on relative answers to the above a couple on 40k could be doing better than them by any realistic benchmark.

o1s1n

Do they wear top hats and use monocles?

If not then no, they're not wealthy.

Mr. Incognito

Anything over twice the average industrial wage is middle class.

The average industrial wage is €30,000

Do the math

ThinkAboutIt

Ireland: Anyone that has more money than me is rich. Hope this helps.

kneemos

Do they spend all their money on take aways and Tubz's?

DoYouEvenLift

Where do they live?

An average salary of 52.5k each isn't wealthy, it's better than the industrial average but it can't be described as wealthy.

smash

Ellie2008 wrote: »

Are they considered wealthy or middle income?

It depends. What's their monthly disposable income?

Mr. Incognito

Mr. Incognito wrote: »

Anything over twice the average industrial wage is middle class.

The average industrial wage is €30,000

Do the math

So if they earn €70,000,000 a year they're on middle income?

jimgoose

That kind of coin coming into the household could be described as anything from Squeezed Middle-Class to reasonably affluent. One thing it isn't is wealthy. When a person is "wealthy" salary doesn't come into it.

Sugar Free

That's only ~6K net a month. If they're in their twenties with no mortgage or kids they should be fairly comfortable.

If they've two kids and a sizeable mortgage then it changes, particularly if they're paying creche fees.

It's too general to class people solely on income without accounting for circumstances.

Additionally, in a lot of cases (my own included) my salary is only a portion of my overall compensation and the additional benefits I receive significantly reduce my costs for other things.

Laois6556

Ah they're wealthy, 105,000, come on that's a huge amount. I think 150,000 up would be classed as super-wealthy. 50,000-80,000 would be considered rich, 30,000-50,000 are middle earners and then below 30,000 are poor. My terms of description can be changed a bit and the numbers a small bit but you get the general outline.

Donkey Oaty

It all hinges on whether or not all day long they biddy biddy bum.

Frynge

o1s1n wrote: »

Do they wear top hats and use monocles?

If not then no, they're not wealthy.

I'm wealthy!








(As monocle falls from eye.)

jimgoose

Laois6556 wrote: »

Ah they're wealthy, 105,000, come on that's a huge amount. I think 150,000 up would be classed as super-wealthy. 50,000-80,000 would be considered rich, 30,000-50,000 are middle earners and then below 30,000 are poor. My terms of description can be changed a bit and the numbers a small bit but you get the general outline.

"Wealthy" means your resources - assets liquid and otherwise - work for you. A couple earning a combined salary of a hundred grand or so are working for their crust like most every other stiff.

The Backwards Man

Wealth is a lot like making love to a beautiful woman.

It's not what you have, it's how you spread it around.

Laois6556

jimgoose wrote: »

"Wealthy" means your resources - assets liquid and otherwise - work for you. A couple earning a combined salary of a hundred grand or so are working for their crust like most every other stiff.

Wealthy = having a great deal of money, resources, or assets.

Gael23

Is the 105k based on one income or two?

jimgoose

Laois6556 wrote: »

Wealthy = having a great deal of money, resources, or assets.

Wealthy == having sufficient assets - liquid and/or otherwise - to be able to live as you please independent of any salaried employment.

Laois6556

OSI wrote: »

€105,000 between them isn't a lot. They'd come out with about €6k after tax every month. Take a mortgage, car costs, childcare fees, bills etc out and they'll have a bit of disposable income and something to save, but they won't be wealthy.

Take that off a couple earning 60,000? They are wealthy, if they're spending more money than others it's because they have more money to spend.

Laois6556

jimgoose wrote: »

Wealthy == having sufficient assets - liquid and/or otherwise - to be able to live as you please independent of any salaried employment.

That's the super-wealthy.

jimgoose

Laois6556 wrote: »

That's the super-wealthy.

No. That is what "wealth" is. Our €105,000 couple above are merely earning a good living.

smash

Laois6556 wrote: »

Take that off a couple earning 60,000? They are wealthy, if they're spending more money than others it's because they have more money to spend.

If they died tomorrow they might have very little to give their kids, so they're no wealthy. Earning does not always equal wealth!

Sugar Free

Laois6556 wrote: »

Take that off a couple earning 60,000? They are wealthy, if they're spending more money than others it's because they have more money to spend.

That's only a little over 3K net a month. If they have the costs listed (rent/mortgage, car, other bills etc.) it really doesn't go that far.

Laois6556

jimgoose wrote: »

No. That is what "wealth" is. Our €105,000 couple above are merely earning a good living.

That's your definition, it doesn't match most people's definition.

jimgoose

Laois6556 wrote: »

That's your definition, it doesn't match most people's definition.

Most people in Ireland don't understand what wealth is. That's half our problem.