what is the average net worth of uk individual/family
ajbell
Posts: 1,151 Forumite
As title. what is the average net worth of uk individual/family.
Assets/cash minus debts.
Assets/cash minus debts.
4kWp, South facing, 16 x phono solar panels, Solis inverter, Lincolnshire.
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I think the variables would be enormous and so average figures wouldn't really mean a lot as it doesn't only depend on income but spending and investments. I wonder what everyone else will think?:j Trytryagain FLYLADY - SAYE £700 each month Premium Bonds £713 Mortgage Was £100,000@20/6/08 now zilch 21/4/15:beer: WTL - 52 (I'll do it 4 MUM)0
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Not far off zero I would imagine.0
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Not far off zero I would imagine.
Wrong, it's 200,000 Euros per head, the highest of the countries examined in this survey.
http://www.group-economics.allianz.com/images_englisch/pdf_downloads/economy_and_markets/financial_markets/sep07_e_haushaltsvermoegen.pdf
The main contributors are housing wealth and pensions (of which we have a lot more than people in other countries.)Trying to keep it simple...0 -
..............5p0
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EdInvestor wrote: »Wrong, it's 200,000 Euros per head, the highest of the countries examined in this survey.
Just one problem Ed, these calculations were done in 2006.
Which counts as "Before Northern Rock" (BNC), values of property, pensions and investments are a lot lower now.
I think the answer we have so far is somewhere between zero and 200,000 Euros.
Anybody got more up to date figures, it would be quite an insight to see what the difference is now.0 -
Just one problem Ed, these calculations were done in 2006.
Which counts as "Before Northern Rock" (BNC), values of property, pensions and investments are a lot lower now.
On the other hand there are three years' additional payments off mortgages and into pensions that would be counted. Property is down around 15-20% and other investments probably around 20-25%. Very hard to do a calculation with pensions as the current value of the fund won't affect the eventual payment with final salary pensions (the majority) anyway. Cash savings are likely to have gone up a lot as a percentage of the total.
Shall we say around 150,000 Euros per head?
The comparative position with other countries should be much the same as everyone has been affected by the credit crunch - though the exchange rate may be a factor.Trying to keep it simple...0 -
EdInvestor wrote: »Shall we say around 150,000 Euros per head?
I knew we were above average in our house, now I find we are way beyond all Europeans.
Is that down to the gold or the magic beans?0 -
I don’t believe it ,I think there is a lot more debt about than is portrayed in these figures0
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How can you classify pensions as wealth? Aren't we always being reminded that today's pension contributors are paying for today's pensioners, and we don't actually own the money we have accrued in "our pot".
Wasn't this the crux of the matter when Allied Wire & Steel (think that's the name) employees lost their pensions? There was outcry because they saw it as their money (rightly as they had paid it in) but it was not deemed "theirs" when it came to drawing down the money in retirement.
Apologies for any perceived stupidity in this post - I freely acknowledge that I don't know much about these things.I haven't bogged off yet, and I ain't no babe0 -
Bogof_Babe wrote: »How can you classify pensions as wealth? Aren't we always being reminded that today's pension contributors are paying for today's pensioners, and we don't actually own the money we have accrued in "our pot".
You're thinking of state pensions. State pensions are paid for as required from national insurance contributions. Anything we put into our own pension pots is ours. Final salary schemes become a little tricky because the company effectively has to stay in business to keep paying their retired employees if there is a deficit. Defined contribution schemes are much more straightforward.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0
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