Who Wants To Be A Millionaire?

If you are sticking your hand in the air and shouting "Yes please!" then you are in great company. One of the fundamental things we do at Axis is help people realise and live their financial dreams through strategic investment. We might not be able to guarantee we will make you a millionaire overnight (who can?), but we will certainly help you on your way.

millionaire

This may seem a rather optimistic outlook in today's economic climate. After all, aren't we still supposed to be in a recession? Well, let's see. We may still be feeling the economic pinch, but things are definitely looking up - particularly in the investment market. Paragon has just re-entered the Buy To Let mortgage lending market with a boost of £200 million and rental demand has never been stronger. However, that's another story.

Separate fact from fiction

Let's return to the subject of millionaires. The media may like to have us believe everyone in the UK is at financial rock bottom. No one can afford to get on the residential property ladder. There is mass panic over the sorry state of pensions in the UK. ‘Write off your debts' and ‘get rich quick' scams are (probably) laughing all the way to the bank as they take advantage of our country's lack of economic confidence.

Bearing this in mind, you might be surprised to discover there are currently more than 284,000 millionaires in the UK. Yes, that's today! A survey by CoreData Research UK found that an estimated 284,317 UK residents have assets worth more than £1 million. Collectively, this group are worth a massive £1.28 trillion!

Create your own wealth

So, how have they done it? Well, approximately a third has assets invested in property (excluding their main home).

Assets held in shares are marginally the most popular at 34.2%, closely followed by property investment at 32.2%. 13.2% hold their assets in cash and 5% in physical items, such as antiques, art and collectables.

According to the report, the average wealth among UK millionaires is £4.5 million. Some individuals, however, hold assets of more than £30 million. More than half (55%) are worth between £1 million and £2 million.

Craig Phillips, principal of CoreData Research, explains: "After running for cover during and after the credit crunch, Britain's wealthy are now actively reinvested in a variety of asset classes. Many of Britain's modern-day wealthy are self-made and have become so through creating and running successful businesses, which bodes well for the economic health of the nation."

Live the dream

So, consider there are 284,317 millionaires in the UK today and they are collectively worth £1.29 trillion - that's £1,280,000,000,000. Around a third of these millionaires invest in property.

Now, let me ask you again. Do you want to be a millionaire? The dream doesn't seem too distant this time, does it? If you are reading this, then you have either invested in property already, or are thinking about starting a portfolio. This is a great place to begin.

At Axis we have a huge amount of experience and workable strategies to help you join the ranks of the truly wealthy, without you hardly having to do any work yourself. How? Because we utilise our expertise and contacts, ensuring we complete all the hard graft on your behalf and providing an ‘armchair' investment service to our clients.

Become number 284,318

If you want to join the growing ranks of people who are taking control of their financial future through property and enjoying true wealth, then join us. Who knows, you may even become 284,318 in the millionaires' list!

Become an Axis member to access to our full range of invaluable, free, educational material (articles, podcasts, videos, webinars, workshops, etc) and first alerts on our carefully selected investment properties.

Or, if you would like to talk to us in person, pick up the phone to our UK portfolio manager, Russell Bonner, on our UK Hotline: 0333 444 0034 for a friendly, no obligation, no jargon chat. Alternatively, you can email him at russell@axiscontact.com

Live with Abundance

Rod Thomas sig