Hands up please

Well as you all know I'm super rich. I'm emailing this in from one of my castles in Monte Carlo (well one has to do something with one's dosh and I'm a bit sick of the estate in Panama).
On no, just realised that's all lies -or statistics as they're sometimes called!

I don't doubt these figures, if they take in the total assets, house, savings, car, furniture, jewellery, tools, ukuleles, etc.
Most of us don't add in all our assets and with with average house being 200-500k, it doesn't take much to top 1m.
If I think about my friends, there are several that may well be millionaires.

I think there are probably more wealthy people around now, than there once was. There are so many "lotteries" now which make people instant millionaires, and certainly some of the homes that were bought in the 50/60 are now worth far more than was paid for them, which makes the owners wealthy, I suppose. Having said that there are a great many people who are still poor, and live from hand to mouth. Perhaps things are not so different now, just more open, and the population is growing so there is bound to be more of everything.

I don't believe statistics as they are generally presented. They only tell part of the story. I agree that my older family members now are better off than those who were ancient when I was much, much younger. But aren't we all? Property accounts for a huge chunk of anyone's wealth but it's only on paper, we all need somewhere to live. These 'bits' of the picture are annoying and one sided IMHO.

Well, average house prices here are under £150,000, so it would take possessions worth £850,000 to make the average local a millionaire. That's a lot of jewellery. Or buy to let properties, which I suspect are what have made my few rich acquaintances rich.

I agree and the adding in of things most people don't consider, just adds fuel to the fire of those who criticise Pensioners. Paper wealth does not pay the bills. "One in six is a millionaire" infuriates younger people and isn't accurate. Far from it.

If this is the report

www.dailymail.co.uk/news/article-2696632/March-millionaire-pensioners-strike-rich-property-boom-One-ten-65s-worth-seven-figures.html

It also states that 12% of pensioner households have total wealth of less than £40,000. I love the way the DM has chosen to illustrate their report of the report (March of the Millionaire Pensioners ) with a picture of a very worried oldie wondering how to spend her millions.

I suppose if you insist on counting my oil wells as personal wealth they aren't really they belong to the company.

Are these the ones registered in Panama, Teetime? They probably don't count.

Being a millionaire, or whatever your assets are worth, makes no difference to ones disposable income, that is what makes day to day living a pleasure or nightmare.

I have one friend who has inherited a fair amount of money and property over many years and she has looked after everything - buying stocks and shares or whatever. Like me she pays tax at 20% but I would class her as a millionaire and that is without considering the worth of the house in which she is living.

I live in London so my house price is over inflated but that does not pay the gas bill or the cat fees.

Your cat charges fees?

Mmm, interesting Charleygirl - all that money and she pays 20% tax? We only have our mortgaged house (valued at local average, nothing exceptional) and his annual salary which means he's just tipped into paying higher rate tax of 40%+. Those who have most always have means and ways to avoid paying more... Never mind, we can't take it with us...

mollie I think that my friend, when the time comes and it is necessary, that she will have live in carers rather than go to a care/nursing home. Live in carers will cost a fair bit but she has the dosh. She lives in Hertfordshire, is 72 and as fit as anything but I have never understood why she never had a downstairs loo fitted. She may well be able to run up and downstairs now but why not think of the future?

Just read that this report is in daily mail. I suppose it is time to gave a go at wealthy pensioners again. I'm happy to take a turn to stop this appalling newspaper having yet another go at the nhs or junior doctors or teachers. I hate the Daily Mail with a passion!

I think it you live in or near London it is quite easy to be a millionaire simply because a 3 bedroom semi could well be worth that. Elsewhere it is a different matter. A lot of my friends have inherited from their parents and been very careful with their money too.

Why is a million such an important figure anyway?

I feel that it is time someone stood up for those who have worked really hard and been careful, never claimed from the state, had holidays, cars etc. they could afford and provided for their retirement. Before anyone rants at me and says I am privileged, that is not so. DH comes from a council house and parents who had very little education, my father didn't believe in educating girls. We paid for our own wedding and everything since. We have worked extremely hard for what we have and have gone without a lot which some consider essential. Now we have a reasonably comfortable retirement and are able to help our children. Why is it I sometimes feel that I need to apologise for this?

A house like ours would, in some areas of London, be worth close to a million, but we're in the north west, so it isn't!

nonnie I know exactly what you mean. Some years ago somebody said to a close friend of ours: A & B are so lucky ( that's us) My friend answered: yes, funny that the harder they work, the luckier they get.

Yes, I get you Nonnie, same here. Get you too Petra ...And yet ...

For all sorts of reasons, we know many pensioners who are multi-millionaires- and have no empathy at all for those who have been less fortunate than them. Yes, partly hard work involved- but also 'luck', fortitude, and so much more.

One relative of ours is always saying how well their son has done (he is indeed a multimillionaire).. and I agree... and yet. Both went to expensive 'Public' schools- and they were given a 4 bed- 2 bath detached house in a posh part of London as a wedding present. Denying it helps hugely to be born with that golden spoon in your mouth is dishonest!

GJ what gives someone 'fortitude'?

I agree with what Petra says about luck although it is also partly down to spotting opportunities and having the courage to take them. If you are not prepared to give up some of the things which make your life easier then you may well not be 'lucky' enough to improve your circumstances for the longer term. If you are not prepared to forgo some of life's treats in the short term you may not have them in the longer term. If having 'things/stuff' is so important you can't wait to save for them and go into debt then in the longer term you may well be worse off.

Those of us who have worked and saved hard for all we have should not be made to feel that we have in some way been luckier than others who could have done the same.

Much of the time we make our own 'luck' anyway. Yes, let's hear for those 'lucky' pensioners, from humble backgrounds, the first in their family to go to university/have a career/save for their old age, and let's stop assuming they have no 'empathy at all for those who have been less fortunate than them' (sic)'

It's a difficult one. Yes, the harder we work at things the luckier we get - and I've been called lucky many times and thought about this. It's like the person who complains they never win anything, but never enters the competition. But even though I came from a humble background, and was no stranger to the horrors of an earth closet in the back yard, yadda, yadda, I count myself lucky from the start because I was born into a stable family full of love and encouragement and knew that if I took chances and failed I always had that safety net to run back to. Some people just never have that. Most of us do realise this and empathise, but I have met people from well off backgrounds who give themselves far too much credit for their good fortune.

I never had that safety net (a stable loving family) Maggie and anything I achieved was by taking advantage of the opportunities offered to me through the state education system.

I've met people who came through the private and public school school system and have had all the (seeming) advantages, but have failed in every way.

Strange, ain't it?

with average house being 200-500k, it doesn't take much to top 1m
Even if your house is worth 500k (and mine isn't) it does take a lot to top 1m!!

I don't know if any of our friends are millionaires - it's so undignified to talk about money