00:00In this video we're going to be looking at both the median and average net worth figures for an
00:04individual. So let's get going and start with the net worth for people aged in their 20s. For people
00:09between 20 and 24 the median net worth is just over £12,000. For a lot of people at this age
00:16they're finishing university or training apprenticeships and they're just starting
00:20their careers often with large amounts of student debt to pay back. Some people may have left
00:25education from 16 years old and been in work now for a few years and managed to build up a small
00:30amount of wealth. And then for people aged between 25 and 29 still in the early part of their career
00:36the median net worth is over £25,000 and the average net worth is now over £75,000. Most of the wealth
00:44for people aged in their 20s is in physical wealth so possessions like cars or mobile phones. In the
00:5030s age group net worth increases more rapidly with pension and property wealth contributing
00:55on top of physical wealth. For people aged between 30 and 34 the median net worth is over double at
01:01over £56,000 and the average net worth also increases to over £90,000. And then by 35 to 39 net worth
01:11increases again with the median net worth at over £86,000 and the average net worth is now over £146,000.
01:19In the late 40s and 50s age groups again we see big increases in net worth. This is where people
01:25with pensions and investments have grown, they've owned and held property which is appreciated over
01:30time and maybe they have their own businesses too which has helped to increase their net worth.
01:35This is also the age groups where people on average are earning the most amount of money they will do
01:40over their lifetime and therefore they're able to save, invest and grow their wealth faster.
01:45The 40 to 44 age group the median net worth is over £135,000 and the average net worth is over £243,000.
01:54And this steadily increases for the 44 to 49 age group and again for the 50 to 54 age group meaning
02:02that by mid to late 50s the median net worth is around 84% higher and the average net worth is
02:08around 67% higher when compared to the net worth of the early 40s age group. For 55 to 59 year olds
02:16the median net worth is over £247,000 and the average net worth is around £405,000. From early 40s to mid 50s
02:25property wealth on average contributes the largest proportion to overall net worth followed by
02:30pension investments. However by late 50s pension wealth overtakes property to become the largest
02:36contributor. Surprisingly financial wealth makes up a much smaller proportion of net worth.
02:41The median figures are just £2778 for those in their early 40s and only increased to £5300 by late 50s.
02:51So if you're able to start investing and compounding your investments from an early age
02:56you'll be way ahead of most people.
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