A lot has been written about the good fortune of ‘baby boomers’ in that, overall, they have enjoyed a long period of economic, share market, and property market prosperity. Whilst they haven’t enjoyed the full benefit of compulsory super (which only began in 1992), other assets such as property have certainly compensated for that. This…
Curious about how wealth and income are distributed across the different generations in Australia? In this updated version of the Wealth and Income infographic, using data from the Australian Bureau of Statistics we break down Australia’s income and wealth distribution and look at how it compares across the generations. This infographic features key stats and…
Self-awareness is a Rich Habit. Lack of self-awareness is a Poor Habit. Only through awareness can you overpower neurologically-based, instinctive urges to spend money. Self-awareness short circuits the neural hard-wiring that causes most to unconsciously spend their money. In my Rich Habits research, I discovered certain unconscious spending Poor Habits that prevent individuals from accumulating…
If you ask 100 Australian investors which book got them into property, I reckon at least 70 would say Michael Yardney’s ‘How To Grow A Multi-Million Dollar Property Portfolio – in your spare time’. In fact, I recently re-read it – but this time the updated 16th Anniversary Edition. Its simple narrative does an incredible…
Job ads decreased by -0.4 per cent in August (or ads), to be -6 per cent lower than a year earlier. Although job ads remain at a historically strong level for the time being, a range of forward-looking indicators are now pointing towards the unemployment rising towards 4½ per cent over the months ahead. Source: Jobs…
Could there be a link between running in the rain and becoming successful in life? Probably not directly, but it is a habit I have chosen to adopt. One of my favourite sayings is “Go the extra mile, it is never crowded”. I grew up playing Aussie Rules Football and played with some of the…
What’s happened to your home mortgage bill over the last year? The interest bill on the average $580,240 owner-occupied home loan is $792,693, meaning the true cost of the typical home loan in this country is $1.37 million, according to financial comparison site, Canstar. The analysis is based on the Reserve Bank of Australia’s average…
Australia’s total credit card bill attracting interest charges has dropped by $161 million – the largest drop since last July. This significant drop comes as they use money back from their tax returns to clear credit card debt. The last time debt accruing interest rose in July was 2009. Credit card statistics: personal credit in…
An estimated $2.6 trillion will be passed from Baby Boomers to the next generations in the 20 years to 2040 according to Philanthropy Australia. Families in Australia’s top suburbs for inheritances will hand down more than $3.3 million on average from one generation to the next, with children in Sydney’s harbourside regions edging those in…
Australia’s economy grew a mere 0.4% in the June quarter according to figures released by the Bureau of Statistics today, a performance Treasurer Jim Chalmers describes as “steady in the face of unrelenting pressure”. The lacklustre growth follows growth of 0.4% the previous quarter, and is a step down from the growth of 0.7% in…
