People earning £60,000 annually could be missing out on an extra £35,562 in wealth as the wealth gap widens, new research suggests. Experts from St. James's Place found that 70 per cent of individuals with a financial plan feel more assured about their financial position.
Wealth Disparity Among Similar Earners
Households earning between £40,001 and £60,000 per year had average wealth of £162,669 in some cases, while others in the same income bracket had just £127,107. This £35,562 gap is attributed to whether households had a financial plan in place, according to the report.
Average wealth across the UK fell by 17.5 per cent over the past year, dropping from £126,482 in 2025 to £104,329 this year amid market volatility and global economic uncertainty.
Expert Advice on Financial Planning
Alexandra Loydon, Group Advice Director at St. James's Place, comments: "Many households are feeling worse off, with living costs and heightened global uncertainty weighing on confidence and, understandably, affecting how people feel about their finances and the future."
She adds: "At a time when so much feels outside of our control, it becomes even more important to focus on the things we can influence. Having a clear plan for your money, and taking small, consistent steps to manage it, can make a meaningful difference, helping people feel more in control and better prepared for whatever comes next."
Regional Differences in Financial Planning
The data shows London leads with 46 per cent of residents having a financial plan and average household wealth of £171,455. In contrast, Wales sits at the other end of the table, with just 30 per cent having plans and average wealth standing at £86,847. Yorkshire and the Humber shows similar patterns, with 35 per cent planning and wealth averaging £73,488.
