What Income Puts You in The Top 10%, 5% and 1%? | Super, Home Equity, Net Worth BY AGE
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- Опубликовано: 21 июн 2024
- Curious about What income puts you in the top? In this video, I talk about the individual & household income thresholds that place you in the top 10%, 5%, and 1% of earners. I'll also cover the Super balance, Home Equity and Net Worth by age.
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Chapters
00:00 Intro
Individual Income
Household Income
Super Balance by age
Home Equity by age
Net Worth by age 
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Considering I didn't complete high school, never owned a business, have no qualifications, only work 38 hours a week & im very lazy, I'm doing OK to get into the top 5%
Thanks for being able to differentiate between average and median, does my head in when journalists confuse the two.
Statistics 101 😂
Great content, love the graphs and simple explanations - good motivation
❤ best video so far Irene !
Thanks 😄
Great video, thanks for sharing
Thanks see you next week
Thanks for the video. When I was younger a mentor Told me to think of investments as being the second job that keeps working 24/7. He said just keep supporting it and it will eventually contribute more that you can personally. Great snapshot. Thanks Irene
That was well said by your mentor 👏
Thankyou for explaining it easy to understand...😊
Glad it was helpful 😀 Thank you for your TIME to watch!
By those figures I am fortunate beyond most of the world’s wildest dreams, and believe me I am grateful, but I don’t feel wealthy. What does feeling “wealthy” even feel like?
Mindset and earning power.
Top 5% 🎉
my super balance is definitely at top 1%. Bought assets that grew over time
Mindset and investing in self and financial education. Thanks Irene great content . I'm interested in your thoughts on TWU SUPER and performance in relation to the top performers and weather I should change to a better performer I'm in my late 50s . ❤
Hello 👋 Thank you for your TIME to watch! Morningstar has published a ranking of the mixed-assets (it looks like most of the investment options from TWU Super are mixed-asset options except CASH PLUS), you can find the free download with my markers with net return(after fees before inflation) here: beacons.ai/irenezhu/freedownloads I had a glance of the investment options of TWU Super, two things I observed 1. They are not directly managing their funds, instead they use 10+ fund managers (companies), to me it's an indicator that their fees would be high as they are actively managed & using third party 2. Take the high-growth option of TWU for example, the investment fee is 0.6% p.a plus transaction cost of 0.09% plus other fees. If we compare apple to apple (mixed assets) - Hostplus' Indexed high growth, investment fees are only 0.04% hostplus.com.au/members/our-products-and-services/investment-options/your-investment-options#tabs-38ab54c053-item-59187535f2-tab I have made videos about how to pick the suitable super funds ruclips.net/video/U1yOTUqDczk/видео.html ruclips.net/video/Hz9RIzhCjoM/видео.html Hopefully this helps!
I think the answer is mindset.
But rich parents is probably the main factor for net wealth?
Mindset I would say
I watched to the end :)
👍
Do you think the data on home equity is skewed by people with homes in Melbourne and Sydney? For reference, I live in a nice area of Perth and also have another property.
Can’t believe the average super balance is so low.
Save and save over decades……
I am somewhere in the lists.
Not surprised at all that 25% at above 65 years old have their super balance drop to zero. They don't have the discipline to save money all their life. Once they reach the super age, they spend it all.
I get there are anomalies such as disabilities or supporting family with medical issues, but the normal healthy aussies have no excuse here.
Even saving $50 per month for 45 years (normal working life duration) at 10% compounding interest will give them half a mil dollars. Don't tell me that you can't save $50/month.
Are these figures including or excluding super?
When you take a super pension, it is not assessed as income for accounts under 1.9 million dollars.
I am on a disability pension 54years old.single....I was a cleaner...I belong in the low to typical level of household total assets.. roughly $600,000... thankyou... also I missed where Australia's average income was on the global scale...I saw USA being the 7th ..but didn't see Australia...how far down on the list are we?...just curious... cheers
somwhere between 15-20th.
@@IreneZhu thankyou
Interesting that you are female and mention a rich Dad. What about a rich Mum?
Because rich Mums tend to be stricter on passing the wealth to their kids 😅 heritage over inheritance