How Much Do You Need to Earn to be Rich in the UK - What the Data Says

[@annawong5027]

Great content. I work in insurance on a salary of £82k with an annual 12.5% bonus but I live below my means saving and investing almost 50% of my net pay. I think it's key to save for your future and retirement

[@isag.7468]

If you make it to that age of course

[@leonhenry4861]

So you’re poor then 😂

[@ConvinceMeAudio]

simple and succinctly put. bean rich is bloody expensive. When your wealthy, money stops confining you.

[@KiranKaurFinance]

Thanks so much for watching!

[@rajjoshi2803]

A good video Kiran, i also didnt think top 10% of earners was what it was. Thanks for the great advice. Also request for another video, can you please explain how to open a ltd for property letting and the pros and cons?

[@davidgillham6847]

Health is wealth first and foremost, but having more financial wealth defines how free you are in this capitalist society and certainly opens up opportunities and freedoms.

[@rinakaur7245]

Expected top 10% to be much higher.

[@ashharryman19]

These conversations and data points on salary are nice, but you really need the Mean, Median AND Mode in order to draw a fair comparison for things like salary and house price in the UK. I have still NEVER seen data, nor any youtuber within the finance world check the Mode average for these stats. I would be extremely interested to see them and I think that would set your already brilliant channel further apart from others in terms of going the extra mile.

[@qed456]

Very perceptive Ms Kaur - Thank you for explaining so well

[@KiranKaurFinance]

Glad you enjoyed the video!

[@TheNorthernGunner]

Just come across this, Great video Kiran. Really well explained!

[@KiranKaurFinance]

Thanks so much, glad it was helpful!

[@tajchana1]

Great content thanks 🙌

[@david7000lee]

When you give a figure for the top 10% at 64k is that the median of the top 10% band or the lowest level in the top 10%. Put another way, what salary puts you in the top 10%. Wonderful videos by the way. Excellent 👍

[@gilcarag274]

That 10% median salary number is really surprising.

[@stevegeek]

My salary is zero now….I retired last year! 🤣 When I was working, I saved and invested hard which allowed me to retire early. I drive a 12 year old car, live in a modest end of terrace house and don’t go on exotic holidays, but I enjoy a simple life.

[@AdrianMcDaid]

But you still have income

[@amourmtungo623]

Thank you Kiran-shukriya 🤝

[@eddiebotello3144]

What’s the average salary in Portugal, how much the 20% make compared to the 10%

[@AdrianMcDaid]

Interesting video

[@javaidak4204]

Good 👍 one ❤

[@FormerCityFinancier]

£180k with an 8% pension contribution is around £8,300 / month. Allowing for a mortgage and associated living costs. A person earning this is unlikely to bank more than a few thousand / month. Let me be clear. It is near IMPOSSIBLE to get rich from a salary. Also, don't forget that those earning the most are usually within a decade or so of retirement. Do what I did. Start a business. Good luck everyone!

[@vivekchedambaram1285]

Should we reduce our expenses? I mean being frugal is the only way?

[@KiranKaurFinance]

I think being frugal is a key factor in building wealth, but your level of income is also important!

[@ninjaninja9954]

You said you have friends that earn about 65k and they think they are average. I bet your friends are in London. London is a different league compared to the rest of the UK. Top 10% salary in UK is 65k but the top 10% salary in London is 79k which is a much bigger jump.

[@juliesimpson2122]

Excellent video

[@KiranKaurFinance]

Glad you liked it!

[@Spirituallyguideme]

I’m looking making money working harder and increasing income, but I’m not giving my car up, my business is based on travelling and I want nice car so not giving up my Audi

[@AdrianMcDaid]

Do you need nice car or reliable cost effective car ?

[@Owaismh54]

Awesome! Very well explained!!

[@gatekeeperboxing5898]

The people who earn more don't believe they are rich, which is partially down to being in denial and also because alot of the people in their social circle earn similar, so they believe they are on a median salary. I have earned from 7k up to just under 40k throughout my career. I always thought a median salary was around 20k, I always thought of anyone earning 50k or more as well off.

[@AdrianMcDaid]

Do you still feel that? What about younger person wishing to buy home with the cost of how they are now. If earning around 50k is that well off ?

[@melike1984]

POOR people buy liabilities Rich people but assets.

[@mr_rauls]

Oh wow

[@ImpartialDebater]

How difficult it is to become an account? Or assistant accountant?

[@KiranKaurFinance]

I did 3 years of training and exams to become an Accountant! It wasn't easy but I think it can give you a great foundation in business and finance

[@FiscalWoofer]

@@KiranKaurFinanceit’s a hell of a lot easier than training as a concert violinist 1st desk on LSO, lucky to take home 25k per year. Three years training would never get one even close to taking that position, but it doesn’t pay! surgeon does less training.

[@gatekeeperboxing5898]

I never did any accountancy exams, and worked over 20 years in accountancy. The problem is a lack of qualifications will likely be an issue when going for higher profile private sector accountancy jobs. I worked in both the public and private sectors for large companies and smaller ones. Unfortunately I also worked for some of the worst managers a person could wish to work for, which has resulted in a great deal of apathy in working for future employers. I am now looking to start my own company and work for myself going forward, as I do not feel the treatment I have received by certain management staff at all warranted and no longer feel like rolling the dice hoping to get good employers to work with in the future. Try to avoid working for agencies as they do not care about you only the client the pays them, and if you run into a problem they will always side with the client over you as you are replaceable to them.

[@ImpartialDebater]

@@gatekeeperboxing5898 thank you. I just need any opportunity. I wish to find a job without any exp. I would be ok with any employer even if i get fired afterwards. The exp is what it counts

[@AdrianMcDaid]

@@FiscalWoofer all about the line you joined when we where younger. One just happen to pay more, but both took as much effort. You know the joke about Billy Conny when asked why did you become Welder... The Que was shorter

[@MENSA.lady2]

My definition of rich, having £1 more than you know how to spend.

[@dontpanicblink]

oil and gas