Buying a Mercedes and others saying that you are "rich."

[renault12ts]

If your on a good salary to begin with, then yes a % of that would be decent, now don't get me wrong, the council's served me well for 40 years and given me a decent living, and I'm not moaning about my pension, it is what it is, (as they say) what bugs me is people think that all public sector workers are on a fantastic pension, they aren't.

If you are on a good percentage of your final income...you have a good pension...better than 90% of the population.

 

[SmartAmg]

I understand that new entrants aren't always offered great terms but you must be well set up in relation to your employed income.

I get approximately half in pension, compared to what I earned when working full-time, is that good? If it is then I suppose I'm on a decent pension then.

 

[renault12ts]

You lot have got me on the final pension salary as I don't have one so I hope you are happy. But I do have a Ford pension and that is as good as any pension IMO. The lump sum for 22 yrs at the place was a little gold mine

Was it not a fs pension scheme...seems odd?

 

[renault12ts]

I get approximately half in pension, compared to what I earned when working full-time, is that good? If it is then I suppose I'm on a decent pension then.

Of course it is good...it can't be bettered. That's the problem with fs pensions...those who get it are blind to how good it is.

 

[SmartAmg]

You have a guaranteed pension for life.

Many others in a DC can lose a significant portion of the value of their pot just before they retire.,And are offered pitifully low annuity rates of 2-2.5% of the pot. A £100k pot doesn’t pay much if s pension.

You may not have a large pension income but it is (all but) guaranteed- I’ll take that over a variable income that I have had to fund (ie save) myself.

I've funded my pension too, well a % of it, the council matched what I paid, is that not so elsewhere?

 

[SmartAmg]

Of course it is good...it can't be bettered. That's the problem with fs pensions...those who get it are blind to how good it is.

Then I stand corrected.

 

[SW18]

Thinking about the OP’s view on their relative wealth, it strikes me that for just about everyone there is always someone wealthier with which to compare themselves. And no end of status symbols with which to display wealth. All best ignored in my view; just enjoy what you have or life isn’t going to be much fun...

 

[Deleted member 149005]

I get approximately half in pension, compared to what I earned when working full-time, is that good? If it is then I suppose I'm on a decent pension then.

Yes it is very good!

Are you on a wind up????

 

[Deleted member 149005]

You lot have got me on the final pension salary as I don't have one so I hope you are happy. But I do have a Ford pension and that is as good as any pension IMO. The lump sum for 22 yrs at the place was a little gold mine

I’d be pretty certain Ford was a final salary pension, at least for a large chunk of your time there...

 

[190]

I’d be pretty certain Ford was a final salary pension, at least for a large chunk of your time there...

I agree, anyone who has worked for a long time at a large company is likely to have a pension made up of part Final Salary for the early years and part defined contribution for the more recent years. Is anyone likely be retiring on a full Final salary scheme now ? I doubt it as even the public sector has been defined contribution for many years. Who knows, perhaps MP's to add to their sins.

 

[Deleted member 65149]

Of course it is good...it can't be bettered. That's the problem with fs pensions...those who get it are blind to how good it is.

Spherical dangly things. My eyes are wide open to how good it is. I’m also well aware of the percentage of my salary that I paid into the scheme from my 18th birthday through to the day I retired.

 

[Darrell]

Are we talking the old Bandwagon here

The one and only but The Bandwagon was before my time.

 

[John]

Perhaps the link between Mercedes and apparent wealth is one which should be long forgotten.

Owning a Merc doesn't mean sht unless you enjoy the product and prefer it over other products.

Certainly doesn't make you a high roller by any stretch.

What a ridiculous thread IMHO! Who gives a monkey's what others have (or say they have) except the very insecure. I live humbly and pay my bills, survived a heart attack, married to the same girl after 43 years, have three sons and 2 daughters-I-L who are all well and happy and a beautiful grandson. I'm the richest guy on here!

Indeed.

I think most who have come close to death or know people who have similarly come close, or indeed died, would probably feel a lot richer than before.

It's certainly altered my perspective on life and what is important and it isn't money.

I have no interest in money and materialistic possessions like I did once upon a time.

To be happy and have your health, which many don't, makes you indeed very wealthy.

 

[ChrisCLS55]

Mercedes are common as muck today. With my E63, people don’t think I’m rich, they think I’m a drug dealer/gangster or those that know me, think I’m daft for spending so much on something daft. Of course a lot of that has to do with where I’m from, my age and my background.

Even seemingly rich people finance their material purchases via credit, cars etc. From pop stars to footballers.

I know lots of seemingly wealthy people who own Porches, Ferrari’s etc and they finance their cars like I do. Likewise I know lots of people who are not wealthy who pay cash for their cars, from Fiestats to C63s and they are not rich.

Society has an obsession with wealth and materialism and the more you have, the more you’re seemingly well off. As ever, it’s about affordability. A millionaire can afford to buy a 90k for cash as much as someone earning a 40k a year salary.

The true well off are those who can afford to afford to pay cash for things, be it 200 on a watch or 20k on a used C63, not because they are rich, but because to them money has as much value in the bank or in a car or in stocks or holidays. You earn it, spend it, you earn it you don’t, it’s all good. It’s on,y bad when you don’t and you spend it, that’s when society has it wrong and people get things for the sole reason of wanting to appear to be better off. Mind, even if you don’t have the cash for an AMG but can finance one, good on you, if that’s what you want to do with your money. A lot don't, but feel they have to! The seemingly rich or more well off are the biggest suckers for that!

 

[artyman]

Why do people equate material possessions and income with a persons 'worth' are we all really that shallow.

 

[bpsorrel]

The one and only but The Bandwagon was before my time.

I haven't thought about that place for years! Happy days (and nights) roaming around Kingsbury as a teen

 

[roviw1]

These threads make me smile, I am on the Rolex forum regularly and there are similar threads mentioning other people's perception of "Rich".
A lot of people assume how wealthy or rich someone is by their choice of cars and watches and holidays and houses.
OK sometimes these are a good guide but we never know how large the mortgage might be on the house or how much finance is outstanding on those cars.
I am very lucky to have some nice cars and some nice watches BUT I do not have a large house, I have been in my small place for 35 years and never moved home, it is now bought and paid for. I did not extend a mortgage every time I moved house because this was the first and only house I have ever owned.
My cars were all pre-owned as were the watches.
Other people go on holiday each year, they drink or smoke and eat out in nice restaurants, I do not do these things so I choose to spend my money on the cars and watches.
If I had a 6 figure bank balance then I would consider myself very well off, however my savings are counted in hundreds and not thousands.
I look on the watches as a bit of an investment and if push came to shove then I would have no qualms in selling them to help out financially if and when it might be needed.
I do pay into a small pension for the future .
I am not looking at retiring anytime and really intend to carry on working until I can't.
My Father only retired 7 years ago and he is now 83 and keeping well.
But I am very happy with my lot and I enjoy my reduced level of work now and my home and my children and grand children and the main thing that money cannot buy is our health.

 

[ChrisCLS55]

Why do people equate material possessions and income with a persons 'worth' are we all really that shallow.

I don’t think deep down people really do, I just think that’s the way the world is sold to us, ironically for money by money people. They sure did their thing it has to be said, because it’s worked. Me, money doesn’t afford anyone or not to afford who controls the value of something or not. We do. I shouldn't be driving an E63, but I do. Yes because I can afford it in ways, but I can afford it because I don’t value it in terms of money. If I did I’d be driving a Mondeo or riding a scooter. That’s the reality. When we see everything in terms of how much it costs, we either get into debt to attain it or we pay up what we have to or don’t buy at all, the scary thing is, we don’t have to, it’s they that have to. The seller, the one that values money. I don’t buy an AMG because I have to, I do because I want to, and if I can’t afford it, it won’t stop me buying what I like for some shitty generic Fiesta, not unless that’s what I want. People are living in false realities where they want a 19 plate Audi A1 because it’s better than a Fiesta and they can afford it or if they can’t, they feel if they don’t, they will be seen they can’t. Lower down the scale Fiesta buyer buys a 19 plate and not a 10 Skoda. The reality is people end up paying more for shit the most than those who pay extra for more. 300 quid Citizen watch or a 50 Seiko watch. Jack and Jones jeans for 20 or Levis for 50. A 19 plate Audi A1 for 20k or an 10 M3. A used 14 E63 for 40k or a 40k 19 E320. Each to their own of course and money does come into it, but never ever let it dictate what you can or cannot get for your money in terms of value to YOU. In reality, there is no less or no more value in owning an E63 or a new/old Mondeo unless money is the value to you, they are both a waste of money in the cold day of light if factoring every single variable. Tl;dr live your life to the full, enjoy life!

 

[optimusprime]

I was rich till i had my Mercedes ...lol

 

[Dippo]

If I had a 6 figure bank balance then I would consider myself very well off, however my savings are counted in hundreds and not thousands.

When you say six figure bank balance, are you including the numbers after the decimal point?