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Australians are the richest people in the world?! Posted on October 10, 2022
Credit Swisse recently released a global wealth report that showed the median Australian adult had a net worth of $US273,900 at the end of 2021, making them financially better off than adults of any other country.
This reflects a favourable share and property market position for Australians at the time of the report. It is also demonstrative of Australia’s preference for home ownership, with 95% of the country’s housing owned by households. Countries at Australia’s heels included Belgium, New Zealand and Hong Kong.
With both Australian share and property markets experiencing a downturn in performance this year, our position at the top of the ladder is likely to shift. The threat of further inflation and increases in cost of living means Australians need to be strategic and deliberate in their wealth creation. Long term vision supported by the structuring of assets for optimum growth is critical.
To explore your wealth building options, join our upcoming Self-Managed Superannuation Seminar on Wednesday evening 23 November at our offices in Gosford, or book a complimentary Financial Discovery via [email protected]