Caporegime
That is a big increase in 4 years...recession? what recession !
One in five university graduates becomes a millionaire
- Thread starter alx
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That is a big increase in 4 years...recession? what recession !
Caporegime
345,271 in 2013!
http://www.thisismoney.co.uk/money/...olds-UK-leaps-fifth-years-nearly-350-000.html
So from 2013 to 2014 we've added another 1.5+ million to the list.
Though the above does exclude houses.......
http://www.thisismoney.co.uk/money/...olds-UK-leaps-fifth-years-nearly-350-000.html
So from 2013 to 2014 we've added another 1.5+ million to the list.
Though the above does exclude houses.......
Exactly what they other survey should do.
Being 24 and living in the South East im not on the property ladder yet. But my parents house is worth around £700k i would think... and I would imagine there pensions are more then £300k making them technically millionares.
... We aren't, we drive a focus.
Caporegime
They need to start using the term 'liquid millionaires', because that is what most people assuming when they hear millionaire.
3% of people with no formal education go on to be millionaires (is in the article).
Being a millionaire doesn't mean having millions of spare cash in the bank - in the sense of this article it means the sum of all your assets exceeds 1milllion.
Which is relatively easy to do for middle ages, university educated professionals living in the SE. Add up the value of the house, pensions, savings, cars, inheritance money from grandparent/parents passed away, stocks/shares etc.
Most of my graduate friends are well on course to meet this criteria by the time they are 40-50. The right degree from a good uni will get you on 30-40K starting salaries in London, and you easily hit 40-60K in a few years of experience and in areas like finances bonuses can be 50-100% of that again. I also know some engineer grads working out of Aberdeen earning 60-80K.
You also have to factor joint salaries. People tend to marry partners with similar education, level of profession and intellect. So it is quite possible for some 30 something couple to each be earning 40-60K in london With more inheritence money from the aprtner then by the time they are 40 they ahve a very good chance of having 1million in total assets
This is my understanding of the article - it excludes debts like mortgage and only includes assets, like the the % of the house you actually own.
Like a few of us said, becoming an asset millionaire is not hard over 30-40 years of professional salaries.
Permabanned
"wealth" more like all their wealth is tied up in lucky house purchases from the 90s.
Caporegime
The only millionaire I know left school with grades.
Soldato
And how many out of 5 become "millionaires" by the same token that didn't go to uni ?
Permabanned
This one lawyer where i work left his bank account open on his screen once and i saw his balance in his current account was over 1 million. now that is a millionaire.
Caporegime
Using the way they calculated it, am not surprised in the least. and I bet when were in our 40-60s most of us will be as well. Doesn't mean you have access to it. Or makes you rich. Just a decent house and decent pension and inflation sorts this out. Or anyone whos brought an half decent house and paying massive debts on it.
He's a complete idiot then, unless he has hundreds of millions in other investments.
Soldato
I find this story difficult to believe.
3% (or 0.15 out of 5)
Soldato
Of all the people I know that went to Uni 20+ years ago with me (and that's a lot over the years) - I know of only 2 who I would say are possibly millionaires (due to their inheritances and investments/house worth)
The reason being - I live in Northern Ireland - not London or the South East. And having a Uni education from here is definatly no guarantee of you becoming a future millionaire (either by wage or assets)
The majority of people who went to Uni around the same 3-4 years as me live in houses worth < £150,000 - have a £5000 car - and earn less than £25,000 a year - they also have big credit card bills and big mortgages.
The reason being - I live in Northern Ireland - not London or the South East. And having a Uni education from here is definatly no guarantee of you becoming a future millionaire (either by wage or assets)
The majority of people who went to Uni around the same 3-4 years as me live in houses worth < £150,000 - have a £5000 car - and earn less than £25,000 a year - they also have big credit card bills and big mortgages.
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