The credit crunch is failing to dampen people's dreams of becoming rich.
Despite the current economic climate and its impact on household finances, many British consumers still believe they will one day become a millionaire. According to research by Cater Allen Private Bank, around 5.4 million Britons expect to achieve millionaire status at some point in their lifetime.
Younger people are most optimistic about their future financial status, with 15 percent of 18 to 24-year-olds expecting to become millionaires in later life.
However, it appears that reality often sinks in when people hit their mid-thirties, perhaps thanks to the burden of mortgage repayments and rising utility bills. Indeed, just nine per cent of those aged 35 to 44 still expect to reach the millionaire landmark.
Sally Watts, marketing manager at Cater Allen, said: "It's really interesting to see the rollercoaster journey of hope that wannabe millionaires take through life. After starting off full of optimism their attitudes quickly change around 35 - the point at which many of us have to cope with the costs of owning a home and looking after our children."
Yet while money is important to many consumers, the survey shows that job satisfaction and a good work-life balance are on average more desirable to Britons than a large salary.
Research conducted by Datamonitor reveals that in 2007, there were 376,000 millionaires in the UK, 46 percent of whom were women.
