Monday, May 19, 2014
Profile of total wealth in the UK from the ONS
Inequality is the big, big thing at the moment.
Of course there has always been a massive difference between rich and poor but right now it has the political spotlight firmly beaming down on the subject.
The ONS has just published a detailed analysis about how wealth varies in the UK. A couple of charts I thought worth considering. The first one shows how the median wealth level has changed since 2006. How interesting that the most wealthy households and the ones that have seen the highest increase in wealth are with one person above and one below state retirement age. The lone parent with dependent children is at the bottom of the pile.
I plotted the chart that shows the variation in wealth between the ages of 45 through to 65+.
Now what is interesting is that the 55-64 year olds has the highest wealth but all of the research I have seen show this is group under the most financial stress. Of course we must remember wealth does not equal income. Also the financial commitments of this middle age group are the highest - being the sandwich generation etc etc.
If you are a UK marketer you should study this report. Dick Stroud