Top One Percent Income in the UK Guide

Top One Percent Income in the UK Guide to raw data from DWP, you need to earn PS82,200 each year or more to be in the top 5% of earnings. But that’s a bit misleading as the top 10% control nearly 50% of wealth in the country.

Breaking into this elite group is possible if you can master some basic strategies to build wealth. You need to craft a career or business that pushes you into this club and then implement effective financial planning to sustain the high income levels needed to boost your wealth.

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Diversifying income streams is also key as this can help reduce your dependency on a single source of earnings. In fact, many of the top 1% make money outside of their primary salaries by investing in a range of assets that can generate significant returns over time.

It’s also worth pointing out that the highest-earning people are very over-represented in London and the southeast of the country. Plus, the IFS report highlights that more than a quarter of those in this elite club were born abroad – largely due to the prevalence of migrants working in the finance industry.

If you’re looking for some tips on getting into this elite group and sustaining the income levels that are needed to stay there, Wallet Savvy is here to help. From making smart career choices to embracing entrepreneurial opportunities and implementing good financial habits, our experts have all the information you need.