Average UK adult 'is worth £350k'

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Average UK adult 'is worth £350k'

Wed 13th Aug 2008

The average British adult values him or herself at £350,000, according to new research from the Post Office.

A poll of 2,074 people found an average self-evaluation to reach that amount, with many believing their home to be their biggest asset.

They considered everything they owned, including their cars, salaries and possessions.

Londoners believe they are worth £500,000, while East Midlanders value themselves at £300,000.

People in their 60s valued themselves at more than double the amount given by those in their 20s and 30s.

And 39 per cent of adults said they should take out life insurance as soon as possible.

Duncan Caesar-Gordon, Post Office head of protection, said more people should have life insurance.

Meanwhile, data from Key Retirement Solutions found the average personal loan debt for people aged 55 and over exceeds £8,700.

It said that more than a third of the UK population in the age group has outstanding unsecured debt and could be heading towards retirement with a total of £66 billion in the red.

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