What Net Worth Do Brits Have? [22+ Stats With Age & Gender]


Everyone has a different net worth dependent on many factors, with age being one of them. We decided to take a look at the average net worth by age UK residents, how much they have to their name, and how wealth is distributed in the UK. The following facts and statistics will show you what a person’s average net worth is, how it varies from one age group to another, and what some reasons for these distributions are.

Average Net Worth by Age UK - Image 1

Average Net Worth by Age UK: Fascinating Facts

  • The total amount of wealth in the UK is £12.8 trillion.
  • The average Briton’s net worth is £172,000.
  • People between 16 and 42 have an average net worth of £7,600.
  • 40% of those between the ages of 22 and 29 have no savings.
  • The net worth of people aged 55 to 64 reaches as high as £1,000,000.
  • People over-65 have the highest net worth – between £500,000 and £1,000,000.
  • 36% of the total amount of wealth is categorised as property wealth. 
  • The average UK worker earns more than £1.1 million in their lifetime.

The National Average

Before we look into the average net worth by age, here are some facts about the national average wealth distribution in the UK.

#1 The total wealth in the UK is estimated to be £12.8 trillion


The UK has experienced a wealth boom over the past few decades; the amount of total wealth is currently at a record high of £12.8 trillion. The UK’s collective wealth is seven times the size of the country’s annual GDP.

#2 The average household net worth is £546,025


The average net worth for a UK household is £546,025 across all ages. However, the median figure is significantly lower than the average at £234,800, which is lower because the UK is also seeing a rise in household debt. This debt affects the number of people who can balance setting aside savings and paying bills.

#3 The average Briton’s net worth is £172,000

(Daily Mail)

With the total amounts of wealth in Britain rising, the average net worth of each individual is also moving upwards; the average net worth for a UK citizen is roughly £172,000.

#4 An 8.5% rise in house prices led to higher savings

(Financial Times)

The average net worth in the UK in 2020 rose significantly due to a rise in house prices; the real estate market saw an 8.5% rise in prices amidst the COVID-19 pandemic, as the elderly didn’t feel as much impact on their finances as younger crowds.

#5 The average person in the UK has £11,000 in savings


Cash savings are something you can fall back on if you’re facing an emergency, but Brits don’t have a lot put away. How much does the average person have in their bank account in the UK? A mere £11,000. This sum represents the average amount of savings in the UK, although many people have more or less.

#6 The average annual salary in the UK is £25,780


The UK average salary is £25,780 a year, which is calculated based on the earnings of men and women as well as full-time and part-time workers. That being said, with living expenses factored in, Britons don’t have a lot of money left over to put into savings.

#7 The average UK household pays £826,030 in taxes


Money facts in the UK reveal that the average household pays £826,030 in direct and indirect taxes throughout their life. This amount is subtracted from the total amount of each household’s net worth.

Net Worth by Age in the UK

Age is a determining factor regarding the amount of money people have in cash savings, property, or other assets. Older generations are more wealthy than younger ones; let’s take a look at how much each age group has managed to accumulate.

#8 The average net worth for 16 to 24-year-olds is £7,600


16 to 24-year-olds are the youngest group featured, with their net worth amounting to just £7,600. This is not particularly substantial, but a large part of this group is entering the workforce; many of them still live with their parents, so these numbers on the average net worth in the UK by age don’t paint an exact picture.

#9 Almost half of those between 22 and 29 have no savings

(MoneyFarm; Occam Investing)

People aged 22 to 29 struggle to save money; 40% of them have no savings at all, 10% have between £2,000 and £3,000, and only 25% have more than £6,000 in the bank. Many in this age group have just finished university and are battling with student debt. Student debt in the UK is becoming a serious problem for millions of people which, in turn, affects the economy.

#10 The average net wealth of people aged 35 to 44 is anywhere up to £300,000

(NimbleFins; Occam Investing)

The average net worth by age 35 in the UK ranges from £200,000 and £300,000. Although average savings for this age group are only at £35,300, many of them are property owners which adds to the total amount of wealth they possess.

#11 Those 45-54 have an average net worth between £300,000 and £500,000

(NimbleFins; Occam Investing)

As people get older, they usually have steadier finances; the average cash savings in this group amount to £133,900, although they may own numerous other assets by this point. The average net worth by age 45 starts at £300,000 and moves upwards to £500,000 as people enter their 50s.

#12 The net worth of people 55 to 64 is as high as £1,000,000

(NimbleFins; Occam Investing)

As people near retirement, their net worth sees significant growth; the total net worth of people aged 55 to 64 ranges between £500,000 and £1,000,000. This group has approximately £94,000 in savings in addition to pension pots and properties.

#13 People over 65 have the highest net worth

(NimbleFins; Occam Investing)

The average UK net worth is highest among people over 65 at £500,000 to £1,000,000; most of these adults have already entered retirement and supplement their national pensions with savings they have accumulated over time. On average, this age group has £103,100 in savings, which is used as monthly income to get close to the UK average pension.

Different Types of Wealth and Who’s Holding It

The average wealth in the UK is divided into several categories depending on the type of assets represented. Take a look at these categories to see the distribution among different age groups.

#14 The total wealth in the UK is composed of four different categories


The UK distinguishes between four different types of wealth: financial wealth, physical wealth, property wealth, and private pension wealth. These four categories make up different types of assets; combined, they make up the total UK net worth.

#15 Property wealth reaches a peak of £180,000 at retirement


Property wealth increases with age. It starts to grow at age 35 and reaches its peak – £180,000 – when people enter retirement. By this time, many are homeowners who have already paid off their mortgage debt.

#16 Property wealth constitutes 36% of the country’s total net worth


The largest amount of wealth in the UK is held in property with 36% of the total amount, or about £4.6 trillion.

#17 Personal pension wealth represents 42% of the total wealth


Looking at the UK net worth by age, the largest portion is held by those who have just entered retirement. 42% of the total amount, or £1.6 trillion, is held in private pension savings.

#18 Gen-Xers are the highest earners, savers, and spenders in the UK

(Share To Buy)

Those between 41 and 45 are the largest contributors to the economy. They are the highest-earning age group, but they also spend a lot – approximately £803.91 per week. However, the average net worth by age 45 in the UK is also one of the highest, superseded only by those close to retirement.

#19 Millennials are least likely to acquire property wealth

(Share To Buy; BBC)

The amount of property wealth among Millenials is very low; Millennials are the least likely to become homeowners and have been referred to as Generation Rent. That being said, Millennials whose parents are homeowners are three times more likely to own a home by the time they’re 30.

#20 The inheritance boom will reach Millenials by the time they’re 61


The average UK wealth is influenced by inheritances; the amount people inherit has doubled in the last 20 years, and it’s expected to rise more in the following 20 years. Millennials are set up for an inheritance boom in the future, but it’s a ways away – most will receive some sort of inheritance by the time they’re 61 years old!

A Few More Facts on Wealth

Before we let you go, here are extra statistics on the wealth situation in Britain that may be of interest to you.

#21 More than 10% of UK households have a net worth of over £1 million


How wealthy is the UK? More than 10% of households in the UK have a net worth of over £1 million. These are classified as upper class households; what is more worrying is that 21% of all households have a net worth of less than £50k, and are considered poor.

#22 The average UK worker will earn more than £1.1 million during their life


During an average 48-year career, a UK worker will earn more than £1.1 million in wages. How much does the average person earn in a lifetime in the UK? £1,123,164. Dividing this by the number of years worked, the average worker earns £23,399.25 per year.

#23 A person needs to earn more than £20,000 a year to qualify as above-average


Those that want to qualify as above-average earners and savers need a salary of £24,000 or £20,000 after tax. Although this is above average, it’s not sufficient if you want to save regularly – you need a salary of £22,700 after tax if you want to save £100 every month.

Wrap Up

The UK average net worth is dependent on various factors, with age being one of the most important. A person’s age is often key to how much they have managed to save throughout their life, as well as any property and other valuable assets. If you don’t meet the national net worth average, check the data on your age group – you may be on the right track.


What net worth is considered rich in the UK?

To be considered rich in the UK in the top 1%, the minimum amount of wealth you need is £688,228 – significantly above the average net worth by age UK residents have.

Is 100k in savings a lot in the UK?

100k is a sufficient amount of savings to last approximately 2.5 years if you don’t have an additional income. In terms of pension funds, this is significantly lower than what you may need. That being said, 100k is not a lot in savings, unfortunately.


I learned a lot about finance after working for a digital marketing company specializing in investing and trading stocks, forex, etc. After that, I got exposed to other verticals such as wealth management and personal finance, which further improved my understanding of the financial world.

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