People in the UK believe you need an annual income of £213,000 to be wealthy, according to research from HSBC, which is six times the national average salary. Yet the same report found that only one in 10 of those who earn £100,000 or more feel wealthy, despite being in the top four per cent of earners.

As living costs rise and definitions of success evolve, how much do you need to earn to be wealthy? Hamish McRae, Rhiannon Picton-James and Susan Gray offer their perspectives.

Wealth is a strange, fluid concept that varies vastly depending on where you live, how old you are, and your standards and aspirations.

Every year Capgemini, an information consultancy founded originally in France, does an annual survey of global wealth. It classifies people as having various grades of assets.

To get in at the bottom as a high-net-worth individual, or a HNWI, you have to have between $1m and $5m to invest. The next grade up is people with between $5m and $30m, who are mid-tier millionaires. Then if you are above the $30m bracket (a little under £23m at present exchange rates) you become an ultra-high-net-worth-individual, or UHNWI.

On Capgemini’s tally there were more than 23 million........

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