Wednesday, Nov 15, 2006

Liquidity has never been greater....

Firstrung: The UK millionaires' club is growing fast - 1 million UK individuals have more than 200K liquid assets

A new report by independent market analyst Datamonitor (DTM.L) reveals that the number of individuals with more than GBP200k in onshore liquid assets in UK will break through the 1 million barrier next year, with young people becoming richer faster than any other age group. "Younger people may not have the wealth accumulated by older people in the UK yet, but they are gaining on their middle aged and retired counterparts fast," says Katie Langridge, Financial Services Analyst at Datamonitor and author of the report.

Posted by converted lurker @ 12:24 AM (453 views)
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4 Comments

1. indiablue19 said...

Blue smoke and mirrors. Having over 200,000 bones in the bank isn't very helpful with house prices in the current inflated condition. Many such as we are waiting for prices to get reasonable and have squirreled away large amounts in the bank which are drawing zilch interest, while the banks are using our money to keep the party going. If this is a measure of "wealth" I'll eat my savings account.

Wednesday, November 15, 2006 01:21AM Report Comment
 

2. uncle chris said...

That said, it certainly helps one sleep at night, which is more than can be said for the multi-millions up to their eyeballs in debt. However, with the advent of student debt and the barrage of VI propaganda encouraging people to keep the house-price bubble inflated, I do question whether this report is based on any genuine facts, or is just another feel-good story trying (I suspect in vain) to keep the country afloat.

Wednesday, November 15, 2006 09:44AM Report Comment
 

3. Sam said...

Well, isn't it becuase they've not had kids (180k per child), probably not married (5-20K for the wedding) that they've managed to save so much money.

Also, this is just as good as measure of wealth as saying having a million pound house, or having a dot.com company 'worth' a million makes you a millioniare. But it's not like this country has any real idea of what wealth anyway,

Wednesday, November 15, 2006 10:21AM Report Comment
 

4. inbreda said...

Not sure when having 200,000 qualified anyone as a millionaire - but I agree with India, it's probably as a result of clever people flogging their stupidly overpriced properties, sticking the money in the bank, and waiting for the party to end.

And it's more than offset by the number of muppets who are getting mortgaged to the eyeballs to buy the stupidly overpriced property.

Wednesday, November 15, 2006 12:58PM Report Comment
 

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