Net worth is the best single measure of your financial position — it’s everything you own minus everything you owe. Here’s how the UK stacks up by age.
UK Net Worth by Age: What ONS Reports
The ONS Wealth and Assets Survey covers Great Britain, not the whole UK, and the latest round covers April 2020 to March 2022. The bulletin text gives these household medians by the age of the household head:
| Age of household head | Median household wealth |
|---|---|
| 16-24 | £15,200 |
| 65-74 | £502,500 (the peak) |
ONS says median household wealth gradually increased with age up to the 65 to 74 group, and that after state pension age wealth often starts to decline as pension wealth is used in retirement. The medians for the age bands in between are in a separate ONS spreadsheet, which this page does not reproduce.
For all ages together, the median household wealth in Great Britain was £293,700. The wealthiest 10% of households had £1,200,500 or more, and the least wealthy 10% had £16,500 or less.
What Counts as Net Worth?
| Include (assets) | Include (debts to subtract) |
|---|---|
| Property value (current market) | Mortgage outstanding |
| Pension pots (all) | Student loans |
| ISA savings | Credit card debt |
| Savings accounts | Personal loans |
| Investments | Car finance |
| Business equity | Overdrafts |
| Vehicles (current value) | Outstanding bills |
| Other valuable assets | Any other debts |
Simple formula: Net Worth = Total Assets – Total Debts
Property Ownership and Net Worth
ONS reports that net property wealth made up the largest proportion of household wealth in Great Britain (40%), followed by private pension wealth. For renters, property wealth is usually small or nil, so pensions, savings and investments carry more of the total.
Regional Net Worth Differences
ONS reports the largest regional difference in median household wealth between the South East (£489,800) and the North East (£179,900). Differences largely reflect property values.
How to Calculate Your Net Worth
Step 1: List All Assets
| Asset | Your value |
|---|---|
| Main property value | £_______ |
| Other property | £_______ |
| Pension pot(s) | £_______ |
| Cash savings | £_______ |
| ISA balance | £_______ |
| Other investments | £_______ |
| Vehicles | £_______ |
| Other valuable items | £_______ |
| TOTAL ASSETS | £_______ |
Step 2: List All Debts
| Debt | Your amount |
|---|---|
| Mortgage | £_______ |
| Student loan | £_______ |
| Car finance | £_______ |
| Credit cards | £_______ |
| Personal loans | £_______ |
| Overdraft | £_______ |
| Other debts | £_______ |
| TOTAL DEBTS | £_______ |
Step 3: Calculate
Net Worth = Total Assets – Total Debts
How to Increase Your Net Worth
| Strategy | Impact |
|---|---|
| Increase pension contributions | Tax-efficient wealth building |
| Pay down mortgage faster | Builds equity, reduces interest |
| Invest in ISA | Tax-free growth |
| Clear expensive debt | Stops wealth drain |
| Avoid lifestyle inflation | More income to assets |
| Build emergency fund | Prevents value-destroying emergencies |
| Review fees | Lower investment and pension fees |
Why Median Matters More Than Average
| Measure | Great Britain households (April 2020 to March 2022) |
|---|---|
| Median | £293,700 |
The mean is higher than the median because a small number of very wealthy households pull it up, which is why ONS emphasises the median.
A household at the median has more wealth than half of the households in Great Britain.
Net Worth Building by Life Stage
| Life stage | Priority actions |
|---|---|
| 20s | Build emergency fund, start pension, clear expensive debt |
| 30s | Max pension contributions, save house deposit or invest heavily |
| 40s | Accelerate pension, invest in ISA, pay down mortgage |
| 50s | Final pension push, consolidate, plan drawdown |
| 60s | Preserve wealth, manage tax-efficient withdrawals |
Common Net Worth Mistakes
| Mistake | Impact |
|---|---|
| Ignoring pension in calculations | Significantly underestimate wealth |
| Including depreciating assets at purchase price | Overestimates wealth |
| Not tracking annually | No visibility on progress |
| Comparing to the mean rather than the median | Unrealistic expectations |
| Forgetting spouse/partner wealth | Incomplete picture |
Next Steps
- Calculate your net worth today — Use the worksheet above
- Compare to the ONS figures: where do you stand against the national median?
- Set a target: pick a figure that suits your own plans
- Create an action plan — Which assets to grow, which debts to clear
- Track annually — Review every January
Your net worth is the most important number in your financial life. Track it, grow it, and watch your wealth compound over time.