Paychecks Are Not Enough To Build Wealth
By Linkedin
It has become increasingly harder for salaried workers to get “rich” without inheriting wealth over the past decade, according to a study by Institute for Fiscal Studies (IFS). While in 2008, it would have taken 10 years of typical full-time gross earnings to leap from the middle to the top wealth bracket in the UK, by 2018, this rose to 16 years. Meanwhile, wealth levels have increased rapidly compared to wages in the past decade, as those who own houses, shares and other financial assets have seen their value soar. The result, the report says, has been rising wealth inequality, with working younger people growing up with lower living standards than their predecessors.
