According to figures from the Centre for Economics and Business Research (CEBR), the number of millionaires (by 2020) will reach 1.7m, more than four times the present level, and by then, 53% of them will be women, up from 40% now.
Just over a third of Britain’s millionaires are over the age of 65, with 45% in the 45-64 age bracket. Millionaires have an average age of 56.
The figures are based on “marketable” wealth, as defined by Revenue & Customs. This includes the value of housing, less mortgages, plus investments, savings and pensions.
CEBR’s forecasts (until 2020) are based on an assumption that the UK will see a continued rise in the stock market and a 71% surge in house prices.
Basically they have taken today’s figures, put them in a spreadsheet and cranked it forward with assumption that life will go on for the next 15 years pretty much as it is at the moment. I wouldn’t count on it! Dick Stroud
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