Handy little website courtesy of the IFS - "Where do you fit in"?

beccad

HAMISH_MCTAVISH wrote: »

:rotfl:

Thats the thing, I think the 90% bracket probably starts somewhere around 70K, which is certainly a very good income if it's just one earner, but it's pretty unremarkable if it's two earners on 35K each....

Higher than that I think - we have £70k between us and we're in the top 2% apparently (70% of that is my husband rather than me). I find that hard to believe though - we have a fairly unremarkable household income for a couple living in London.

(Don't ask about the debt in my sig )

ETA: scrap that - just read that it's net, not gross - must read properly! Still puts us over 90% though. I still find that hard to believe. We live in a 2-bed flat in a fairly rubbish area of London

Davesnave

fc123 wrote: »

I am too embarrassed to say where we came up.....but I don't feel like a 'top earner' at all. I voted though as the poll is anon.

And I was glad the voting was anonymous..... because our income is so carppy now!:rotfl:

Elaine_Wilson

My figures came out at 26%. Somewhat exclusive as at this moment only two other voters are in this decile.

But I'm not really sure how to interpret the figures. I'm better off than about a quarter of the population yet my earnings are below minimum wage. (My own business so the regulations don't apply)

I wondered how the fact I'm living on my own affected the figures so ran it again with two earners both at my wage. This fictitious household comes out at better than 48% of the population. Does this mean almost half of the childless couples earn less than minimum wage? I would have thought most were two income families. Or is it skewed by pensioners, etc?

Still, food for thought. Might have to follow up the links on that site to see how the government calculates these figures.

Really2

Looks like the wife and kid are dragging me down to 80-89%.

I will keep them though, even if they make me look less wealthy on a website.

There are more riches in life other than money wealth.

Jacka87

Ok just did this and came up in the second band from the right. Thus I am in the 80-90% band. I think this is ridiculous. Maybe I did something wrong in the calc...

My situation is I earn a salary of 23k and bonus of 1k. My OH is on an hourly rate of just over £10ph. So by scaling her rate over a year I gt it at around 18k. So put both those numbers in minus 25% tax to cover tax and NI as a rough number combined with a lodger income of £450pcm it brings me in as the second category.

I honestly cant believe that I am in that band! I am struggling with the mortgage every month and the misses has absolutly no money to save away or anything! No kids etc helps but the mortgage is not include nor is the fact that I have an 80mile daily commute for work, which results in a ridiculous cost for diesel in my car!

I dont believe it, but then when you look at the poll results there is loads in the top couple of brackets! Household income of less than 50k cant surely make you top 20% really!

Really2

Jacka87 wrote: »

So by scaling her rate over a year I gt it at around 18k. So put both those numbers in minus 25% tax to cover tax and NI as a rough number !

I thought tax NI is usually about 1/3 of your wages gone.

Jacka87

The results also show that the 2 biggest categories are the top 2. Thats just nonesense! A normal distribution should have it in the middle but considering super rich would mess the results a little then we should end up with the most common bracket being just below the middle!

Another way of looking at it is I earn clode to the exact average salary that gets quoted for uk salaries. My oh is about 75% of that salary and yet together we are 85% surely the fact that there our combined salaries is less than a combined average should have us less than average???

Its nonesense in my opinion, th enumbers just dont add up!

HAMISH_MCTAVISH

Jacka87 wrote: »

Another way of looking at it is I earn clode to the exact average salary that gets quoted for uk salaries. My oh is about 75% of that salary and yet together we are 85% surely the fact that there our combined salaries is less than a combined average should have us less than average???

Its nonsense in my opinion, the numbers just dont add up!

Great post. Hit the nail on the head there.

The problem with these numbers, is they include pensioners and people on benefits, in council houses, etc, etc, etc. So using them to say prices are too high is complete nonsense.

If you're including millions of people in council houses or permanently unemployed, on benefits, etc, and millions more pensioners who are not earning an income and will never again be house buyers, then it's a ridiculous comparison.

Unfortunately its becoming typical of the sort of deluded drivel the bears are having to resort to these days.

lostinrates

Jacka87 wrote: »

I dont believe it, but then when you look at the poll results there is loads in the top couple of brackets! Household income of less than 50k cant surely make you top 20% really!

I agree that the results on this forum are likely to be skewd, but 20% of british popultion i still lots of people.

I also wonder how many forgot/didn't read to subtract tax.

Really2

lostinrates wrote: »

I also wonder how many forgot/didn't read to subtract tax.

I agree I think a few may have put down earnings not income. (to be fair when you start it it is not that clear, but I always class income as after tax)