Quasi impossibile per gli inglesi riuscire ad arricchirsi, dice il rapporto
https://www.lbc.co.uk/article/almost-impossible-for-brits-to-work-their-way-to-being-rich-says-report-5HjdF6D_2/
di tylerthe-theatre
Quasi impossibile per gli inglesi riuscire ad arricchirsi, dice il rapporto
https://www.lbc.co.uk/article/almost-impossible-for-brits-to-work-their-way-to-being-rich-says-report-5HjdF6D_2/
di tylerthe-theatre
23 commenti
I’ll settle for working my way to not being poor, honestly.
This has been evident for all too long. Tax wealth, not income.
Don’t worry, there’s also no way to lazy yourself into being poor.
If you’re rich.
Thank god we have that report, cos it wasn’t clear before…
Well the pandemic did see the greatest wealth transfer upwards in history. So this comes as no surprise.
Not all of us get to be first in line to be handed free money to ostensibly supply public sector healthcare with PPE to the tune of £12 million unfortunately.
I would like to be able to pay my rent and take someone on a date in the same paycheck please.
Almost impossible for Brits to think of a report that was likely to be a surprise.
The country needs a total new OS reinstall. We are still running Empire when the reality has been China and now AI. We don’t know how to stop being poor because we don’t even admit that we are.
We don’t even have the tools to make the tools needed for what needs to be done. The political system we have now is like an anchor that keeps us moving from the past even as that past has long since crumbled.
No fucking shit. Meritocracy is a myth. The middle class is obliterated. Thanks again to Thatcher and the neolib voters.
Not exactly news unfortunately. A report in 2014 found that social mobility in the UK had stopped. This report has merely found the exact same thing but worded slightly differently.
Things have been bleak for some time.
Was it ever the case? Even in more ‘egalitarian’ countries like the Nordics, there’s still a helluva lot of intergenerational wealth. In fact its a bit harder for natives to ascend in wealth because of an influx of cheap foreign labour. The golden age of social mobility in the West was in the cold war years when labour was quite scarce, teh establishment were scared of communism so offered concessions, and their was almost no offscourcing and cheap foreign labour migration.
I mean look at Greta Thurnberg, both her parents had thier own wikipedia pages before she became famous, one an opera singer the other a famous actor. She wasn’t just some random kid.
I believe in meritocracy as a desirable outcome but not the present reality. Met quite a few wealthy/well off people who are basically average at the end of the day.
I just want to be secure I don’t want the rat race. Even on £19 an hour in West Yorkshire I feel like I’m only just able to make ends meet
I work full time, I am 25, have worked full time since I was 17 and currently one month’s salary away from being homeless and having £0 to my name. That would sound normal if I was a gambling addict or had excessive spending habits but I do not. I am not working my way up the ladder in a cooperate job to be rich. I am doing it so I can keep up with rent payments and buy food.
Yeah obviously.
r/endinheritance. With an allowance of course.
Scrap triple lock. Cut pensions by about 25-30%.
Reduce the % of households that are net beneficiaries of the state from 50% to about 15% by any means necessary.
Invest this money in infrastructure.
I mean yes.
That’s the way it’s always been, why is this suddenly news?
The majority of people will never become rich working for someone else- that defeats the purpose of a company, who by nature need you to be paid less than the value of your work or else the company won’t turn a profit.
And in those companies, there’s only a few executive positions which is where you can make real money as you start getting rewarded in equity for performance.
And the majority of people will never develop the skill set required to be an executive in that level, heck, there are people who are executives who have no place being executives because there’s such a shortage in good executives.
Through regular work and prudent fiscal management, you can become upper middle class, and that is where everyone should aspire to be. Comfortable and secure, able to afford a few luxuries.
But to be rich, you have to take a massive amount of risk, by starting your own business, and the likelihood is your business will fail (most startups do) and you’ve got to have the will (and sustenance) to keep trying till you succeed and even then success may be measured in just paying yourself your first salary and making ends meet for the first time as the lion’s share of business don’t make someone incredibly wealthy.
So yes, they’ve outlined a fundamental nature of all of human society, you can’t just work your way to being rich.
It’s a combination of having the predisposition towards risk, the right circumstances that allow you to take the risk, the correct business/ model in the right place at the right time, a heaping amount of long hours over many years where you earn nearly nothing, invocation and ingenuity, knowing the right people at the right place, in the right time and of course, a massive amount of luck.
The best a society can nurture is the reliability that by working you will be in the middle classes and that to be in the middle class is a sign of success.
Not really surprised given that anything earned over 50K is taxed 40 or even 45%. It almost as if the system was designed specifically for that …
Apart from a few years in the middle of the 20th century this has always been the case.
I can only speak for myself and my upbringing but social, family and education wise my financial literacy was shocking
Never told anything at school, parents always played the hold cash game and people tend to be quite secretive and guarded. Which I understand
Then I started looking into how I can make my money work for me etc to combat Inflation and it has been a game changer for me.
I have a cash back debit card that pays Intrest on cash in the account. I then use that to purchase discount gift cards that I can double stack with normal vouchers and loyalty cards.
I then funnel off the difference into a stocks and shares ISA which is tax free.
I have what is on paper a pretty average paying job. In the last 2 years I’ve managed to gain 11k on Intrest in my stocks and shares ISA
It’s not easy but it’s also not hard.
I also just ‘play the game’. Bank switches etc. made £700 this year doing debit card switches that took about…. 2h in total
I know this isn’t the point of the post and it actually kinda proves it but…. If you can make your money work for you it can make you feel better off
If I knew this before my 30s I think I’d be in a VERY different position
It sounds pretty sad because in reality it is but last week through cash back, Intrest on cash, savings through discounts, savings through gift cards and bank switches I made/saved £900 which I then put into my S&S Isa which is up £2,300 this month.
I’m just a normal bloke with a normal job and a normal wage but have turned it to saving 900 a month AND making an additional £2000 this month with about 4h of effort.
Everyone can do this
No shit. The lottery despite the odds is the most chance anyone would have in this country
Fuck it, 100% inheritance tax on everything over £1m. No income tax up to £150k.
Ive been poor long enough that a 26k job has me feeling like royalty lmao. Im still poor but not quite 8k a year poor
Why would we be surprised that to become the absolute wealthiest in society you’d need to do so by more means than merely working, when many more means are available to you?
Obviously you need to, for instance, invest well to become the most wealthy, because you’re competing with people who invest well to become more wealthy.
This is a pretty silly metric.
That was true 10, 100 and 1,000 years ago.
Everyone that gets rich did so through investment and luck.