Earn £65k and own home outright to 'feel' wealthy

18 November 2016

People who feel wealthy typically earn in the region of £65,000 and enjoy a total household income of over £86,000, according to new research from Lloyds Bank.

This level of earnings is well-ahead of a national average of £34,576, but the research suggested that are other factors that add to their feelings of wealth.

One of the biggest contributors to people’s financial security is property ownership, with the research suggesting that 73% of those that feel wealthy own their home outright. This compares to a national average of 33% of people who own property who were interviwed.

Amongst those that feel well off, 43% also own an investment property, compared to 11% of the UK population as a whole.


Half of the ‘wealthy’ live in a detached house, with an average value of £737,220 – of which they have £606,670 in equity leaving an outstanding mortgage balance of £130,550.

Unsurprisingly, the wealthy were also more likely to hold stock market investments. Almost half of those that feel wealthy (47%) own stocks and shares, compared to a national average of 16%. Similarly 41% hold investment bonds and funds compared to a UK average of 13%.


Commenting on the findings, Sarah Deaves, private banking director at Lloyds Bank, says: “Feeling wealthy is about more than just the amount of pounds people have in their pocket to spend. We know that in particular homes, but also cars, investments and lifestyle also play a part.

“Those that feel wealthy today tend to be middle aged. They have perhaps benefited from better pensions, large house price inflation, no university fees and have lived through a number of years of a low inflation, low interest rate environment.”

Add new comment