I got a conservative "on paper" wealth of 850K for myself, with what I would deem an unremarkable portfolio. So I would not be that surprised if 3m odd households are on paper millionaires.
just had a go at this, it's done by ONS with a sample size of around 30,000 people. This is also talking about households so couples count as 1 person However it's probably not that wrong, you think average salary of 35,000 as a person gets older they would have earnt gross 35*20 (so we talking people who are 40) so around 700k. if they have a 5% pension contribution thats 35k which has presumably gone up. So thats going to 1.4m both with 70k in their pension and from when people have bought their house and it's gone up significantly. Probably plausible but its all money on paper.
pretty much. I'm shafted though being young and not even having that on paper. Most could probably sell their houses down south and move up north and live like a king.
I think there is a quote out there from one of the Getty clan along the lines of the man who has 50 quid cash in his pocket is worth N times more than a man who is worth 1000 quid on paper.
I think Hillary has sent her cousins to bore us all to death in revenge for her utter destruction at the hands of the Pede.
I'd buy a nice sherry trifle ... and treat everyone on here to a copy of Leicester City's 2015/2016 EPL campaign DVD ... plus a £2 lotto lucky dip ...
Was chatting with Sweats on here the other day. We both know 'old money' people who have got £10m mansions that are falling apart at the seams because they haven't got two pennies to rub together.
There's a family down here that I work with to help run a food and craft festival in the summer at their gaff. They were on that TV programme a few years ago about how these big old posh gaffs can generate an income to help pay for the upkeep, so things like weddings, events etc. Anyway, this family are a lovely bunch, but they are as mad as a box of frogs and did not have a ****ing danny about how to run a business as they've never had to work in their lives. Their money ran out years ago and they thought you could just invite a couple of cheese makers, throw open the gates and bingo, they'd be rich again. It's a few years down the line now and the food festival has been a success, it's now bringing them in an income. Alongside some holiday accommodation, and corporate event hosting. The house is in much better shape, but they still have **** all money and the old girl drives about in a clapped out old range rover that looks more at home on a farm.
