Australian’s are starting to see their Mojo return. For much of the last few years we were an unhappy lot, but confidence seems to be returning.
So what does it take to make us happy?
Obviously it’s more than money – because we’re already the world’s richest people.
Now before you shoot me down, let me explain that I certainly realise that to be truly wealthy you need more than just money.
Of course I realise that money is important in those aspects of your life where it is important (like paying the bills and the school fees) and money is not important in those areas of our lives where it is not important.
But many of us are still worrying about getting more money so we don’t have to worry about money any more.
Back to the point I was starting to make – we’re already wealthy.
Yes, we’re already wealthy and this was confirmed in the Credit Suisse 2012 Global Wealth Report which showed that Australians are now comfortably the richest population in the world with a median wealth per adult of US$194,000.
This is more than double that of second-placed Switzerland with US$87,000.
Interestingly the report states that Australians comprised some 1,571,000 people in the top 1% of the planet’s wealthiest persons
By the way…in order to be in the world’s top 1% you need a net wealth of US$710,000, and if you have net assets of over US$71,000, you are in the richest 10% of global wealth holders.
How many millionaires?
America still has the largest number of millionaires – more than 11million – three times higher than its nearest rival Japan and Australia boasts more than 905,000 millionaires.
Interestingly the report forecasts that the number of millionaires in Australia will jump to 1.6million over the next five years. That’s a staggering 82 percent increase!
The report suggests that total world household wealth is expected to increase by almost 50% in the next five years, with the United States retaining the top spot with wealth of US$89 trillion.
China is expected to add US$18 trillion to global wealth and overtake Japan as the second-wealthiest country in the world.
This bodes well for Australia – we just happen to be in the right spot at the right time.
As China transforms from an industrial economy into a consumer-driven society this will offer abundant opportunistic for Australia.
Not only will China and other developing Asian countries require our resources, but we can supply them with health services, education, food, technology and if we play our cards right we can be the tourism playground for a new generation of middle class Chinese, just like we were for the Japanese in the 1980’s.
Yes there’s some good reasons for our Mojo to return!
If you’re serious about property investment please join me and a group of property and tax experts at my upcoming Property Market and Economic Updates that I’ll be conducting in 4 states in August and September 2013
I will be presenting a heap of BRAND NEW content I haven’t discussed in public before. I guarantee there will be several things I reveal that you are not doing and you should be!
Click here now to get more details and reserve your seat.
If you want to cut through all of the media hype, and all the contradictory predictions, and finally learn the truth (good and bad) about what is going to happen to the Australian property markets, this seminar is exactly for you… Click here now to get more details and reserve your seat.
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.