comet555

I wouldn't either, especially if that's the only income.

Wealthy would be both partners making 100K + a year!

Vanessa

Even that doesn't make you wealthy.

comet555

True enough

And there's the question of what is wealth anyways

Geelong Gent

Even $100K per week is not wealthy, but it depends on your spectrum of friends and acquaintenances.

harrip

Financially $5.2m per year is wealthy imo - but money is not everything

iceman

But it can make you miserable in comfort

Possums

here here

St.Georges Girl

What made you come up with that amount? Is that what you earn?

My OH paid almost $28,000 tax on $93,000 last year, then of course there was the super, medicare levy and ambulance cover to be deducted.

ozzieeagle

Spot on, 100,000 with kids to raise would mean a very average lifestyle, especially with the average mortgage.

iceman

We have 4 kids, live in a decent house in a nice area. We have no debt (other than a mortgage) but still have to budget every month. We are slightly better off than when we were in England, but quality of live is more than money alone. Our kids can play outdoors, the neighbours are great and Australia gives us the life we wanted. We are not wealthy, but I would say reasonably comfortable. I don't aspire to be wealthy, although it would be nice, but my family is the thing that makes me a rich man (in things other than money)

harrip

I wish! Geelong Gent said $100K per week is not wealthy - thats about $5.2m per year.

Geelong Gent

Correction thats not what I implied

What I implied was wealth is relevant to the individual and their surrounding acquaintenances or group of colleagues.

$100K per week compared to $1m per week - who is wealthy?
or $10K per week compared to $1K per week

Also a consideration is on same incomes ie $100K who is wealthy the one spending $90K on debt repayment or the one spending $90K on asset growth?

or the one going home to a family with four kids or
the one going home to four walls and a bottle of Jack Daniels

Its a misused term

mbike

Nicely put. We've just had our second, six weeks ago and I've already noticed a drop in money (nappies, nappies,nappies). But the contrasting increase in the sense of family and contentment more than make up for it.

Mark

iceman

Couldn't have put it any better !!!

Caroline B

Totally agree that 100K is not the path to riches for a family, particularly if you are paying exorbitant Brisbane rents and you fancy travelling further than Redcliffe for your hols...