How Much the Richest Ukrainians Earn: Disclosed Incomes and Wealth.

According to The Sun: Have you ever wondered if you are richer than your neighbors?

A new study reveals how much income, real estate, savings, pensions, and investments the richest 20% of people have. A leading financial consultant also shares tips on how you can grow your wealth, regardless of your financial situation.

The investment platform Hargreaves Lansdown analyzed what assets the wealthiest 20% of people own in various categories based on age and location.

Read on to find out how your finances compare to others and what can be done to become richer.

Savings

It's tough to save today as energy prices, taxes, and mortgages rise.

But even saving just a few pounds a month can add up over time.

According to data from Hargreaves Lansdown, the average income among top earners is £30,799 until age 39.

In London, this figure rises to £40,893, while affluent workers in the North East have £24,741.

Interestingly, by age 49, these workers increase their savings by only £3,800 – to an average of £34,599.

Londoners still have more savings than high earners from other regions, with a gap of £50,542.

In contrast, the situation in the North East remains unchanged, meaning the typical affluent worker has only £24,912 in savings.

However, by retirement age, everything changes.

Those in the North East have £72,176 in savings by age 50, which is significantly more than the typical London worker's £51,162.

Salary

Imagine earning £100,000 by your thirties.

For wealthy workers in the UK, this is a reality, as the national average salary for this group is an enormous £105,713.

In comparison, the average person earned £37,648 a year until June, according to data from the Office for National Statistics.

No wonder salaries are highest in London, where wealthy earners make £122,690 a year.

As careers progress, the average salary of these workers rises to £122,753 by age 40, before stabilizing at £107,399 by age 50.

As they approach retirement, the wealthiest workers in the South East have the highest pre-tax salary – £126,563 a year.

However, in the North West, workers are not far behind, with an average salary of £97,709 by age 50.

Sara Coles noted: “London salaries peak at age 30, partly because high earners often leave London as they age.”

“In other regions, salaries peak at age 40 in seven out of eleven places, when individuals earn the most.”

Pension

Knowing how much you need in your pension to be considered rich can be challenging.

However, according to Hargreaves Lansdown data, consistently accumulating wealth can secure you £833,678 after age 50.

At age 30, affluent workers typically have £169,465 in their pension fund, which is enough to provide a basic pension with one vacation a year.

Custodians in Yorkshire have the largest funds – £249,384.

Meanwhile, those in the East Midlands have only £60,644 in their funds by age 39.

In comparison, people in their 40s have pensions totaling £467,888.

Interestingly, workers of this age living in London have the lowest savings across all regions of the UK – £292,330.

By contrast, those in the North East save £691,446 by age 49.

Systematic contributions to a pension fund and the power of compound interest can help workers in their 40s build such significant funds.

Compound interest is when you earn interest on the money you've already deposited in the account, as well as from growth in previous years.

That's why consistent pension accumulation over the years can give your money the best chance to grow, providing greater returns in the long term.

By the time they reach age 50, the top 20% of workers have an average of £833,678 in their pensions – more than enough for a comfortable retirement with exotic holidays, taxis, and takeaway orders.

Sara Coles, head of personal finance at Hargreaves Lansdown, stated: “The top 20% of earners have really large pension funds.”

Real Estate

Owning your own home is something we all dream of. But how much is needed to make that a reality?

On average, top earners have £152,022 in real estate by age 39.

In London, this figure is slightly higher – £227,197 in East Anglia.

In the North East, where real estate is cheaper, affluent workers have an average of £74,357 in real estate.

At age 40, these workers own £260,745 in real estate – nearly enough to buy a typical family home.

But in London, where real estate is significantly more expensive, the typical high earner has £397,945 in real estate.

Sara Coles explains: “The top 20% in the North East will live in expensive houses, but they don't cost as much as the expensive houses in London, where the highest-paid Londoners live.”

This means more money is invested in real estate in London, while in the North East, there are more savings and investments.

By age 50, the highest-earning workers have £359,925 in real estate – enough to pay off a mortgage on a family home.

But in London, this figure reaches £734,435 in real estate – an amount many can only dream of.

Investments

Investing often takes a back seat while workers focus on buying their own home or accumulating savings.

However, it can become an important tool for building wealth for retirement or leaving a legacy for your children.

The same applies to wealthy workers in their 30s, who often have no investments, according to Hargreaves Lansdown.

In their 40s, these workers had on average only £1,474 invested, although this amount rose to £7,888 for wealthy workers in the South East.

Even if they didn't start early, by age 50, wealthy workers have about £25,474 invested, which is a significant amount.

Sara Coles explains: “Among younger groups of people, the area in which they tend to lag behind is investments.”

Remember, the value of your investments can fluctuate up and down.

Long-term investing is the best way to smooth out these market fluctuations and help your money grow.

Have you encountered a money problem that needs solving? Contact us by sending an email to [email protected].

The Hargreaves Lansdown study highlights important points about the financial situation in Britain among wealthy individuals. Understanding this data can help readers better navigate their finances and plan strategies for improving their economic standing, as knowledge is the first step toward financial independence.