Is this person rich or poor?

Single 38 male
Wage take home; 拢1,326 per month
Rent; 拢580 " "
Council Tax; 拢75 " "
Gas; 拢50 " "
Electricity; 拢25 " "
Water 拢30 " "
Phone 拢20 " "
Food 拢150 " "

Leaving 拢396 per month
This person does not pay into a pension fund nor need to run a car.

I am asking for a friend.

If they pay into a pension it would leave them with nothing.

This person is not poor....if you read MY stats, you would not want to be my friend

Tell him to sort out the pension. At 38 he needs to start soon.

If he's happy he's rich..... if he's depressed /unhappy he's poor

they are better off than some but would not consider them rich or poor. Why do they not buy their own house then they would have something to show for it rather than dead money in renting??

If he wants a decent pension when he retires he needs to sort it out now. He'll be paying more into his pension fund if he hasn't made any sort of payments.

Sounds more like poor by UK standards. Ie 3rd quartile.

However, by world standards rich, probably in the top 1% of the world poulation.

Well, he has money left after his bills are paid, so I would say he's in a pretty good situation. He really should start thinking about a pension fairley soon. On the world level he is in the top 1% of rich people in the world, on the english level he is well below the average wage of 24,000 per annum.

Tell your friend you can have richness in life without money or material objects. He should look at the people around him and then ask the question...'am I rich?'

I dont think a pension will cost over 拢300 a month 拢20 拢30 at most.

He looks very comfortable and Lucky, tell him never to have kids, he'll never have any money.

No he is not poor, but he will be in later years without pension provision which costs quite a bit at his age and also taking into account the fact that without owning property he will pay rent for the rest of his life. It seems unlikely that he will be able to save, so no fund for emergencies or holidays.

If you are saying he has nearly 100 quid left over per week, I would like to see him put something away somewhere that is reasonably safe that gives a reasonable return.

Unfortunately I don't understand anyones currency except ours here in the states but I know enough to say that at 38 this person needs a retirement plan unless they want to work hard for the rest of their lives and as far as paying rent...that is just money wasted, if they purchased their own home it would be an investment and an asset, I can't see being in my sixties or seventies and having to work my butt off just to have a place to live and food to eat.

In the global sense, yes very rich indeed.

If you pay into a pension, the government will refund all the tax you paid on that money and add it to the pension pot! Also if his employer offers a pension scheme, they quite often match his contributions up to about 3% of his salary.

He would clearly be much better off if he got a pension.

You've listed the amount he NEEDS to spend, so if he's not spending the rest, it would be a good idea to put some into a pension. It's up to him how much he puts in there. I wouldn't recommend having all your savings in a pension scheme, because you can't get it out until you become a pensioner. So he should stash some of his savings into a savings account that pays good interest.

As well as a savings account, he may also be interested in this:

http://www.zopa.com/member/The%20Hulk

If it leaves enough for groceries then sure, he's rich.