Our friends at the Australian Bureau of Statistics produce statistics on the distribution of wealth and income of Australians each two years. Really interesting data (wish it was released every year!).
People often ask me “how do I compare to others?” Below are the key wealth and income metrics of Australians for 2015-16.
1. Gross Household Income in Australia 2015-16
2. Household Net Worth in Australia 2015-16
3. Households by Net Worth Range 2015-16:
4. Households by Net Worth Range 2015-16 (showing only up to $2 million as this encompasses 90% of the population):
5. Mean Worth by Age Australia 2015-16
6. Median Net Worth by Age Australia 2015-16 (interesting to note that the median is much lower than the mean – the exceptionally high wealth of some households brings the average/ mean up significantly):
A few other interesting statistics that I found:
1. 33,700 households are worth 8 figures (more than $10 million)
2. 135,200 households are worth more than $5 million – this represents 1.5% of households
3. 1.2% of households have a net worth of less than zero
The above is for your information only. You are reading this because you want to be different to the average. You want to save more, invest wiser and achieve financial freedom earlier.
Want to review the numbers in more detail? You can find them on the ABS website:
How do you compare? Feel free to comment below.
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