Wealth of Over-50s Reaches Record Levels

The UK finance company, Abbey National, has its research covered in a couple of UK publications. The most detailed is in The Finance Daily.

Why I am not surprised that Abbey makes no mention of this research or provides any links on its own web site. I despair at the way companies have yet to wake up to the new world of news dissemination and the opportunities of bloggers.

Here are a few of the factlets from the research:

The wealth of the over-50s generation has rocketed 45.6 per cent in the past five years to in excess of five trillion pounds (£5,000,000,000,000)

The personal wealth of this demographic is greater than the annual GDP of every nation except the USA. It is even greater than the combined GDP’s of Germany, UK and France.

The over-50s owns nearly 75 per cent of the UK’s wealth. They hold 60 per cent of all savings and are responsible for over 40 per cent of all consumer demand.

OK, OK I think we have got the picture. They have lots of dosh. Tell us something we don’t know. Dick Stroud