Most people believe an annual income of £213,000 is what it takes to be considered wealthy, according to a survey.
The study, by HSBC UK, averages out its results to come up with this headline figure – but contains big regional differences. Londoners surveyed say it takes more than £289,000 to be wealthy. Meanwhile, those in the North East say it’s around £80,000.
Another interesting finding is a wealth perception gap. For example, only one in 10 people earning £100,000 or more described themselves as wealthy despite being among the UK’s top 4% of earners.
The report says more than half (51%) of the general population identifies owning a private jet or a yacht (48%) as the main signifier of wealth.
But high earners themselves are more likely to consider non-material factors – such as retiring early (48%), frequently travelling abroad (45%) or having investments (54%) – as more relevant symbols.
Among the key non-material indicators of wealth are investments, with 49% of the general population seeing this as a key signifier.
The report says the majority (55%) of those earning over £100,000 have investments, but this figure drops dramatically to just 18% of the general population.
Leave a Reply