Guest The Pom Queen Posted October 21, 2018 Share Posted October 21, 2018 Australia has seized from Switzerland the global title of having the highest "median wealth per adult", in Credit Suisse's 2018 Global Wealth Report released on Friday. Not only are Australians relatively rich by global standards, our wealth is more evenly distributed across the population than many other countries, it finds. Wealth is defined in the report as the sum of all assets, including residential property, deposits, shares and super, minus all debts – a concept otherwise known as “net worth”. The results show that if every Australian adult lined up in a row, the middle person would have a net worth of $US191,453 – about $270,000 at Friday’s exchange rate. That puts us a nose ahead of the middle Swiss adult's net worth of $US183,339. https://www.theage.com.au/business/the-economy/australians-overtake-swiss-to-lead-world-in-median-wealth-stakes-20181019-p50arv.html Quote Link to comment Share on other sites More sharing options...
Parley Posted October 21, 2018 Share Posted October 21, 2018 (edited) This has to be fantastic news. We really are the lucky country. Edited October 21, 2018 by Parley Quote Link to comment Share on other sites More sharing options...
newjez Posted October 21, 2018 Share Posted October 21, 2018 (edited) 1 hour ago, Parley said: This has to be fantastic news. We really are the lucky country. It is really good news. Didn't take you for a socialist though parley? Good to have you aboard. Let's redistribute that wealth! Edited October 21, 2018 by newjez Quote Link to comment Share on other sites More sharing options...
Parley Posted October 21, 2018 Share Posted October 21, 2018 38 minutes ago, newjez said: It is really good news. Didn't take you for a socialist though parley? Good to have you aboard. Let's redistribute that wealth! No. Lets'just give everyone the means to be successful through their own endeavours. 1 1 Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted October 21, 2018 Share Posted October 21, 2018 Which has much to do with the high minimum wage rates here which I wholeheartedly applaud. Also Super. Australia does much right in my book. 2 Quote Link to comment Share on other sites More sharing options...
Parley Posted October 21, 2018 Share Posted October 21, 2018 Compulsory Super was one of the best things ever introduced I think. Quote Link to comment Share on other sites More sharing options...
Johnny Kash Posted October 21, 2018 Share Posted October 21, 2018 Having been over in the UK after 7 years in Aus this does not surprise me. As others have said, minimum wage in Aus is far higher (even taking into account higher cost of living) and compulsory Super having kicked in over the years. While the UK is starting to get onboard with compulsory pension contributions, we have been shocked at how much wages have stood still here the past few years whilst cost of living has risen. Speaking with guys at work in their 20s, many of them have simply given up on being able to ever afford to buy a home. To give balanced perspective, we are in Kendal, hardly a hotbed of employment but, crucially, not a cheap place to live, being the gateway to the Lake District etc. and cashed up older/semi retired folks buying houses here. Certainly the boomer age group in both countries are by and large fairly affluent but I remember being amazed at many of the boomers at my tennis club in Adelaide who seemed to be taking 3 month vacations to Europe, had villas in Bali and were retired at a (reasonably young) age. Quote Link to comment Share on other sites More sharing options...
newjez Posted October 21, 2018 Share Posted October 21, 2018 5 hours ago, Parley said: No. Lets'just give everyone the means to be successful through their own endeavours. Have you ever played monopoly? You don't end up with the median wealth of Australia. You are cheering socialism. Quote Link to comment Share on other sites More sharing options...
benj1980 Posted October 25, 2018 Share Posted October 25, 2018 On 21/10/2018 at 21:05, newjez said: Have you ever played monopoly? You don't end up with the median wealth of Australia. You are cheering socialism. Really? The only cheering I did was becoming wealthy and making my sister suffer as a consequence! There was no 'we are all in this together...' Quote Link to comment Share on other sites More sharing options...
Perthbum Posted October 25, 2018 Share Posted October 25, 2018 Shame its not all shared... Quote Link to comment Share on other sites More sharing options...
Perthbum Posted October 25, 2018 Share Posted October 25, 2018 If you search there are a lot of conflicting lists. Median and mean wealth in 2017[1] per adult, in US dollars. In rank order by median wealth # Country (or other region) Median Mean 1 Iceland 444,999 587,649 2 Switzerland 229,059 537,599 3 Australia 195,417 402,60 Quote Link to comment Share on other sites More sharing options...
newjez Posted October 25, 2018 Share Posted October 25, 2018 10 minutes ago, Perthbum said: If you search there are a lot of conflicting lists. Median and mean wealth in 2017[1] per adult, in US dollars. In rank order by median wealth # Country (or other region) Median Mean 1 Iceland 444,999 587,649 2 Switzerland 229,059 537,599 3 Australia 195,417 402,60 It's 2018 Quote Link to comment Share on other sites More sharing options...
newjez Posted October 25, 2018 Share Posted October 25, 2018 13 minutes ago, Perthbum said: Shame its not all shared... It is a shame. But it's less of a shame than other countries. Quote Link to comment Share on other sites More sharing options...
Perthbum Posted October 25, 2018 Share Posted October 25, 2018 1 minute ago, newjez said: It is a shame. But it's less of a shame than other countries. why? Quote Link to comment Share on other sites More sharing options...
Perthbum Posted October 25, 2018 Share Posted October 25, 2018 6 minutes ago, newjez said: It's 2018 ohhhh yeh, here is one from 2018 Here's how wealthy the average family is in 35 countries around the world http://uk.businessinsider.com/net-worth-average-family-around-the-world-oecd-countries-2018-7 Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted October 25, 2018 Share Posted October 25, 2018 (edited) 1 hour ago, Perthbum said: ohhhh yeh, here is one from 2018 Here's how wealthy the average family is in 35 countries around the world http://uk.businessinsider.com/net-worth-average-family-around-the-world-oecd-countries-2018-7 You do know the difference between ‘average’ and ‘median’, don’t you? Edited October 25, 2018 by Gbye grey sky 2 Quote Link to comment Share on other sites More sharing options...
newjez Posted October 25, 2018 Share Posted October 25, 2018 1 hour ago, Perthbum said: ohhhh yeh, here is one from 2018 Here's how wealthy the average family is in 35 countries around the world http://uk.businessinsider.com/net-worth-average-family-around-the-world-oecd-countries-2018-7 You probably didn't get to that stage at high school, but you do seem to be good at self learning, so have a Google of mean, median and mode. Quote Link to comment Share on other sites More sharing options...
newjez Posted October 25, 2018 Share Posted October 25, 2018 1 hour ago, Perthbum said: why? Because Australia has a higher median. 1 Quote Link to comment Share on other sites More sharing options...
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