Earning potential 'peaks before 40'

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Earning potential 'peaks before 40'

Wed 11th Jun 2008

Workers may find that they are unable to increase their earnings when they reach the age of 40, new research has suggested.

According to a study by Fool.co.uk, the average earning of employees in their 20s and 30s increases until they reach middle age.

At this point, earnings flatten at an average of £35,000 for 16 years before decreasing from aged 56 onwards, the study revealed.

Head of personal finance at the firm David Kuo suggested that this information should prompt Britons to address their financial situation.

"With average consumer debt of £21,450 and potential mortgage debt of much more, it seems those of us indelicately referred to as middle-aged should show some of the conservatism the term implies," he said.

Recently, Mr Kuo encouraged house buyers to drive a hard bargain when negotiating a transaction, as falling house prices have swung the market into the favour of buyers, rather than the sellers.

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