Wealth in Britain: A Lifecycle Perspective

Summary: The distribution of wealth in Britain is extremely unequal: more so than the distribution of income. Yet, most recent research into poverty and inequality focuses on income as a measure of well-being: little is known about inequalities in wealth and assets such as financial savings, pensions and property. This book analyses the distribution of wealth across different groups throughout the UK. Levels of wealth vary across different age-groups, and the book focuses on the role of the lifecycle in explaining differences in levels of assets. It explores the factors which influence the accumulation and the running down of assets, examines people’s knowledge about the different ways of accumulating wealth, and looks at why different people build up a wealth base in different ways - and with varying degrees of success. The book is based on a literature review; analysis of the data obtained from the government’s Family Resources Survey; and follow-up interviews with 40 families at different life-cycle stages. It will be useful reading for all researchers, academics, policy-makers and pressure groups involved in economics, welfare and benefits, fiscal policy and inequality in Britain