statistics
Why are only 5% of Aussies millionaires?
“One day I want to be a millionaire!” I recall that being an often expressed goal around the traps twenty years ago. Back then the median gross annual income was just $17,056* so the millionaire goal was quite a stretch. It was also before the explosion of free information on the internet. Since then there’s [...]
The financial year that was
Leveraged Equities have compiled this interesting illustration of the Australian share market movements over the last financial year (ended 30th June 2011). (Information in the graph was sourced from the Australian Financial Review and IRESS.) You can download a PDF version of the chart from their site.
Residential property vs shares since 1926
The residential property versus shares debate is popular and can be as fiery as political and religious debates. So I’m often asked about comparisons of the long term returns. Following is some commentary I came across from Dr Shane Oliver, Chief Economist and Head of Investment Strategy at AMP Capital Investments. (Emphasis added by me.) [...]
Latest retirement cost statistics
For those thoroughly planning for their retirement you may be interested in the latest statistics of the actual amount spent by current retirees. Previously I’ve written a more detailed article about retirement planning and this statistic – this article just advises you of the latest update. The Westpac ASFA Retirement Standard for the September 2010 [...]
If you want to be a millionaire don’t follow your mates
According to the latest World Wealth Report by Merrill Lynch and Capgemini, there are approximately 172,000 Australians who are millionaires. (The definition of millionaire is in US dollar terms and excludes your own home and other lifestyle assets.) This is a very low figure given that most people, if asked, would say that they want [...]
It’s time in the market that counts
“Fortune favours the brave.” Investing more aggressively is one of the key behaviours of money masters in creating long term wealth. But when the share market falls suddenly and significantly many people cannot contemplate such a behaviour. To help you be comfortable to invest more aggressively you need to invest time educating yourself about the [...]
Property index changes name
Standard & Poor’s and the Australian Securities Exchange (ASX) recently changed the name of the S&P/ASX 200 Property Trusts Index to the S&P/ASX 200 A-REIT Index. The name change follows the ASX and Property Council of Australia’s renaming of Australian listed property trusts as Australian Real Estate Investment Trusts (A-REITs) to align with global practice. [...]
Chronology of superannuation and retirement income in Australia
Do you have a massive orientation towards details and would love to learn more about superannuation in Australia? If so, you are in luck as the Parliamentary Library of Australia has just published a Chronology of superannuation and retirement income in Australia. It is a wonderful resource for financial advisory geeks like me, but you [...]
Trust pros for financial advice over friends and family, survey suggests
About one in six Brits has received bad financial advice from their friends and family and have suffered financially and emotionally as a result, according to new research from the specialist mortgage provider (Birmingham Midshires)Almost one in five (17%) wasted a lot of time in the process. Just over one in 10 (12%) admitted that [...]
Almost $12 billion in lost superannuation
As at 30th June 2007 there is $11.9 billion in lost superannuation, according to the Australian Commissioner of Taxation’s Annual Report for the financial year 2006-07. This staggeringly large amount of money is spread across 6.1 million accounts. That’s an average of $1,950 of lost superannuation per account. Could some of this lost superannuation be [...]
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