Why are wealthy, working Brits suffering a confidence crisis when it comes to spending in the recession and do you consider yourself to be wealthy?
You probably don’t. You might think that being ‘rich’ means earning around £150k a year, owning your house outright, as well as having a holiday home or luxury sports car. Yet in reality, if you have an average household income of around £93,000 – close to three times the national average of £35,000 – you are officially classified as one of the “Working Wealthy”.
There are now approximately 2.5 million affluent households in the UK. However, because these people don’t feel well off, they can underestimate the value of their own wealth and the spending power they possess. According to a new in-depth report being published this month, the tough economic climate has left its mark on the psyche of the “Working Wealthy” with a lack of confidence impacting their perceptions of wealth and appetite for risk.
Are you afraid to spend in the current climate despite being well off?
Are you no longer as confident when it comes to taking risks as in previous years?
Has the recession led you to re-evaluate your life priorities?
What does it really mean to be wealthy in the 21st century?
How can you make sure you have the right provision in place to protect important possessions?
Join the debate by logging onto a live and interactive Web TV show with Steve Langan – Managing Director of Hiscox UK, the specialist insurer that commissioned the new report, along with Charissa Gooch, who is one of the Working Wealthy. Submit your questions before the chat or live during the show.
Posted under Personal Finance News
This post is a Blogger on December 17, 2009
