London – What will wealth look like in the UK in 2025?
The new HSBC report suggests that an annual income of £213,000 is what is considered to be wealthy, more than six times the national average salary today.
The report recognizes people who earn more than 100,000 pounds a year as high-income people, but nine of the 10 high-income people need to make more than 250,000 pounds a year to be considered wealthy. It’s there.
The bank emphasizes that 42% of high-income earners are planning to retire, 36% are saving for rainy days, and 25% leave what they leave for intergenerational wealth and family I’m thinking about that.
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“Wealth is a personal concept and depends not only on the objective financial situation of people, but also on how they feel about money,” says HSBC UK’s top wealth director. Xian Chan said.
He added, “People often value their sense of wealth in terms of how financially they have and how close they are to achieving their financial goals.”
Regarding spending habits, four in 10 high-income people (39%) (39%) have 10 more luxurious items, such as watches, handbags, jewelry, designer clothing, and more, than those owned by the general public. I outlined that it is % higher.
Only 44% of high-income individuals believe that ownership of luxury goods will lead to wealthy individuals.
The report also suggests that 21% of high-income earners aim to own luxury items in the next two years, but they cherish the most and make it the best symbol of wealth What you consider is investment. This includes investments in finance or property, as well as investments in education and self-improvement.
Street style for London Fashion Week in Autumn 2025.
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Early retirement or frequent overseas travel was mentioned as a symbol of wealth in purchasing luxury goods and cars.
There was a slight disparity in data on how often high-income people purchase new clothing, electronic products, or household items.
27% of high-income earners consider these items essential each month, while 44% consider them luxurious.
“The findings of HSBC UK reveal a paradox. Despite having high revenues and ambitious financial goals, many popular wealthy individuals still do not feel wealthy. This amputation is emphasises the psychology behind the perceptions of people of wealth,” says Vicky Reynal, a financial psychotherapist.
“Even when objective wealth exists, anxiety about rising costs, insufficient savings, and pressures of social comparison creates a sense of scarcity: redefine wealth beyond the balance of banks and achieve results By focusing on, reducing useless comparisons and prioritizing financial actions, people can confidently move towards the future they are aiming for.”
Street style for London Fashion Week in Autumn 2025.
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The report found that the meaning of wealth changes across generations.
49% of Gen Z between the ages of 18 and 24 consider wealth to be an immaterial condition. Highly-paid Gen Z believes a strong work-life balance is a solid symbol of wealth, with 41% aiming to achieve it over the next two years.
Only 35% of people in the age group between 35 and 44 agreed to 49% of Z.
It also changes how consumers are purchasing luxury fashion and beauty products.
According to a report from WPP, the holding company of advertising agencies, 27% of the 2,000 consumers surveyed said they followed influencers and purchased items from social media platforms such as Tiktok and Instagram. .
This data is a product of 32% user-generated content with detailed product reviews from influencers that encouraged purchases starting from 49%, with 39% styling videos and tutorials on how to use or wear items.
