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Wealthy whingers: The £90,000-a-year families who still don't feel rich
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28 January 2008
While millions of their fellow Britons may find it difficult to sympathise, the so-called working wealthy clearly believe they are having a tough time.
According to a survey published today, such households earn £88,000 a year, have more than £20,000 of annual disposable income, take two foreign holidays and live in a home worth £390,000.
What more, you might ask, do they want?
The answer, it seems, is to earn around £60,000 more a year, own more than one property and send their children to a private school.
Then, the survey found, they would feel rich.
Nearly one in ten households are now classed as wealthy, with the average family bringing in an income of £88,000 a year - nearly triple the national average, according to insurer Hiscox which commissioned the research.
Nevertheless, 90 per cent of wealthy Britons do not feel well-off, the survey found.
The study of 1,000 professionals found four out of ten go on more than one foreign holiday a year, while 29 per cent own a luxury home entertainment system and 23 per cent have savings of more than £25,000.
Around 15 per cent also own a piece of art work and 14 per cent have more than one property, while the contents of their homes are valued at more than £50,000.
Researchers said the typical "working wealthy" individual lived in the South-East of England and was a professional with an income of between £50,000 and £250,000.
They have surplus cash but are not ostentatious about what they buy. They see themselves as "no longer ordinary, but not yet extraordinary".
Steve Langan, of Hiscox, said: "Being wealthy doesn't mean we stop being down to earth or lose touch with the value of things.
"We've worked and saved hard to buy the possessions that we hold dear."
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