How much money do you have to earn to be considered rich?


Updated on 02 June 2016 | 2 Comments

At what point does someone’s annual income make them rich in your eyes?

You might have noticed the recent story of a married couple who earn £200,000 a year but claim they are still ‘struggling to make ends meet’.

The London-based pair said the general cost of living, along with the fact they qualified for hardly any benefits, made them part of the ‘squeezed middle’ we hear so much about today.

“If you’re earning millions of pounds, then you’re OK – and at the other end of the spectrum you get everything paid for,” the wife, Nish Sharma, said. 

“We are caught in the middle where we are paying for everything.”

Sadly, but perhaps unsurprisingly, their frank confession opened them up to a world of abuse on Twitter and Facebook. 

Such negativity should never be condoned, but it was interesting to note one common theme amongst many of the comments: that these people were far too wealthy to struggle.

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So, are they rich?

While their income is very, very far above the national average, it’s by no means part of an exclusive club.

Research from currency firm Centtrip recently showed that more than 1.2 million people claim to earn more than £100,000 a year, while some 235,000 take home at least double that.

With the rising cost of living, what was once considered rich is not quite the same today.

So what do you think? At what point does someone become “rich” in your eyes. Why not vote in our poll below – and see how your views compare to your fellow loveMONEY readers.

We’re talking about household wealth here, not individual. After all, if you have a partner who’s earning big bucks, chances are you’re they’re sharing the wealth!

Now you’ve had your say, let’s see how your wealth would be viewed by others. What’s your household income?

And finally, do you consider yourself rich?

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