This is Money Podcast

How much do you need to earn to feel rich?

5 snips
Feb 28, 2025
The discussion highlights the surprising feelings of six-figure earners who don’t feel wealthy. A poll reveals most believe you need at least £150,000 to feel rich. The conversation shifts to Generation X's struggles with pension savings and the impact of rising living costs. Experts weigh in on the need for financial literacy and proactive planning for retirement. They also touch on energy bills and the potential pitfalls of regulatory changes in investment that could affect investor trust.
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INSIGHT

High Earners, Low Wealth Feeling

  • Earning £100,000 puts you in the top 4% of UK earners, technically making you rich.
  • However, many high earners don't feel wealthy due to cost of living and lifestyle inflation.
ANECDOTE

Company Car Perks

  • Simon Lambert recalls his father's company cars, highlighting perks like free petrol and parking.
  • He contrasts this with today's expensive car financing, illustrating changing financial realities.
ADVICE

Pension Planning Advice

  • Evaluate your current pension situation by gathering all information and getting projections.
  • Use online pension calculators to assess if you're on track, considering factors like state pension.
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