Researchers say the 46th birthday is the gateway to a golden age when Britons have everything they want.

It is when most people own their home, have a family and are settled in a career.

And it is also the time they have the most belongings like household gadgets and valued personal possessions.

Insurance firm More Than reckons that average wealth for the age group is £40,919 compared with £24,548 for 20-year-olds and £26,192 for people in their seventies.

The research shows individual values increase or decrease as the decades tick by, circumstances change and what we own is affected by major life events.

Most 28-year-olds are without serious family ties or commitments and their average value is invariably made up of indulgent purchases for themselves.

Moving in with a partner will on average generate an increase of 65 per cent while having a child will add an extra £2,000 to the value of people’s possessions.

This is due mainly to the additional items required to care for a new baby such as pushchairs and cots.

Product director Dowshan Hum­zah said: “People spend £13,000 every five years on things they keep in their home.”

More Than interviewed 1,000 people to compile the report.