Britons earning up to £60,000 a year could be missing out on tens of thousands of pounds in wealth, new research suggests.
The findings reveal a major financial divide between households earning similar salaries, with some building significantly more wealth than others.
Households earning between £40,001 and £60,000 annually had average wealth of £162,669 in some cases, while others in the same income bracket had just £127,107, according to research from St. James’s Place.
The report found the £35,562 gap came down to whether households had a financial plan in place.
The report also highlighted growing financial pressures facing households more widely. 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.
The squeeze is being felt widely, with 34 per cent of people saying their financial situation has deteriorated in the past year. Just 17 per cent reported any improvement.
Rising living costs remain the primary culprit. Seven in ten blame this for their worsening finances, while 57 per cent specifically point to food and essentials becoming more expensive.
Other factors weighing on households include stagnant wages, with 19 per cent citing no pay rise, alongside higher rents affecting 13 per cent and increased tax bills hitting 8 per cent.
Fewer people now describe themselves as financially comfortable, dropping from 42 per cent to 37 per cent.
Fewer people now describe themselves as financially comfortable
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GETTYThe wealth advantage extends across every income level. Households with a financial plan hold an average of £157,416, more than double the £70,610 held by those without one.
Even at the lowest earnings, the difference is substantial. Those making under £20,000 with a plan have £59,223 on average, compared to £34,699 for those without.
At the top end, the gap becomes enormous. Households earning over £80,000 with a plan hold £519,634, nearly £200,000 more than their counterparts without one.
Despite the clear benefits, only 38 per cent of people have any plan in place and this has remained unchanged for five years
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PixabayBeyond raw wealth, planning brings greater confidence. Seven in ten with a financial plan feel more assured about their position, and 76 per cent consider themselves resilient enough to handle unexpected changes.
Yet despite these clear benefits, only 38 per cent of people have any plan in place. This figure has remained unchanged for five years.
Alexandra Loydon, Group Advice Director at St. James’s Place, says: “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.”
Regional differences are striking. London leads with 46 per cent of residents having a financial plan and average household wealth of £171,455
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GETTYShe 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 are striking. London leads with 46 per cent of residents having a financial plan and average household wealth of £171,455.
]Wales sits at the other end, where just 30 per cent have plans and average wealth stands at £86,847. Yorkshire and the Humber shows similar patterns, with 35 per cent planning and wealth averaging £73,488.
