"Sobering new research from the think tank Resolution Foundation shows that for aspirational Brits looking to move up the wealth ladder, not even a lifetime of savings would be enough. In fact, the average worker would need to save their earnings for 52 years, to raise £1.3 million ($1.7 million), the amount needed to move from the middle and become as wealthy as the richest 10%."
"And for those who happen to be born in the working class, the odds are increasingly stacked against them. "Wealth mobility in Britain is low-people that start life wealthy tend to stay wealthy, and vice versa," Broome added. As the saying goes, money makes money. The report revealed that the key driver of widening inequality is the so-called "passive" gains. Essentially, those who bought property and invested their money in pensions have seen their wealth balloon since 2010."
Wealth inequality has widened so significantly that a typical full-time worker saving all earnings across a 52-year career would only reach about £1.3 million, matching the wealth of the top 10% only with unrealistic assumptions of zero outgoings. Intergenerational mobility remains low: individuals born into wealth generally stay wealthy while those from working-class backgrounds face diminished odds of advancement. Passive gains from property appreciation and pension investments since 2010 have been primary drivers of rising inequality. Inflation, cost-of-living pressures, weak labour markets, and automation risks further threaten workers' ability to accumulate comparable wealth.
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