The vast majority of MoneySavers have more in savings than they owe in debts, finds new MSE poll

Former_MSE_Sophie

The vast majority of MoneySavers are worth more than they owe, a new MoneySavingExpert.com poll has found. 

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The vast majority of MoneySavers have more in savings than they owe in debts, finds new MSE poll

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Daliah

23% of under 25s are worth more than £1m? Bwoar ⁠🤣⁠

Thrugelmir

Given the average of people in the country shouldn't be a great surprise. 

Daliah

Average or not, I find it hard to believe that 23% of under 25s are millionaires.

Notepad_Phil

Do articles like this never get checked by anyone with any mathematical ability before being displayed to the public - 2 out of 78 under 25s does not equal 23%. I gave up reading at that stage.

MaxiRobriguez

Notepad_Phil said:

Do articles like this never get checked by anyone with any mathematical ability before being displayed to the public - 2 out of 78 under 25s does not equal 23%. I gave up reading at that stage.

Silly right. It's not even hard. 2 out of 78 equals 76.

Thrugelmir

Staggering revelation in the article as well. "while those aged 65 to 79 largely have little to no debts and are instead worth between £500,000 to £999,999."

JGB1955

You have to wonder about the mathematical ability of these ''statisticians".  The percentage of those worth between £500K and £999K is 21.86%.... (I think!)

jamesd

I'm wondering how people valued DB and state pension wealth. Or whether they even included DC wealth either.

MaxiRobriguez

Thrugelmir said:

Staggering revelation in the article as well. "while those aged 65 to 79 largely have little to no debts and are instead worth between £500,000 to £999,999."

Not staggering in the slightest.

Vast majority of 65+ are homeowners and the vast majority of them are mortgage free thanks to cheap housing, and many too  will have DB pensions with CETV values of >£500k.

That is the general public +65s, those who frequent MSE are more likely to be financially savvy and thus have lower debts and greater assets. 

What is staggering is that current working people who do have large debts and lower asset bases are expected to shoulder the increase in social care when there's a big chunk of people here who are sitting pretty who can avoid the tax rises completely. Nice. 

Albermarle

What is staggering is that current working people who do have large debts and lower asset bases are expected to shoulder the increase in social care when there's a big chunk of people here who are sitting pretty who can avoid the tax rises completely. Nice. 

Interesting BBC article on this .

Why tax pay packets more and not property? - BBC News

Quote 

The tax base has shifted from capital and wealth to labour and wages over decades.

It seems that property, capital and wealth, particularly in the form of housing is an untouchable asset, and should typically be able to be left free of tax even beyond the grave.