evlPanda said...
.... but I don't blow that much.

Obviously (statistically) not.

I'm like u Panda... except I blow mine on trinkets, drugs, holidays, vehicles...

I don't own any property cos I read on a conspiracy website that Australia was heading for a severe housing crash... farking Steve Keen!

evlPanda said..My income is very, very good, but my net worth is very, very poor, compared to the averages. Have I blown that much money with nothing to show for it? I'm not frugal but I don't blow that much. I don't even own a car for Christ's sake. Where has it gone/where did other people's come from?

My income/wealth ratio is similar to the income/wealth ratio of the national averages. You don't have a car, but do own property or superannuation? My wealth is roughly 40% property equity (ie. my home), 40% superannuation, 20% savings.

Or maybe you're just young and haven't had time to accumulate?

Raw numbers and most of the terms ("disposable", etc.) are found in www.ausstats.abs.gov.au/ausstats/subscriber.nsf/0/FB162A8CBB41033DCA257BCD001A5725/$File/65540_2011_12.pdf

It's actually not unclear.

I was going to discount, on the basis that the top 1% are billionnaires and would have skewed the averages (not medians).
But the methodology is a survey of some 15k households, and since the odds of a zillionnaire answering this type of questionnaire are slim, then it becomes worthy reading. I was put off by NT having such top weekly earnings - suspicious, no? The presentation seems to work backwards from a Pareto "let's use the 80-20 imagery to exemplify what we wanna say".

55yo+ hold half the national wealth. This is not bad: means all this will be redistributed soon to younger types, either through consumerism or just plain dying. Unfortunately, part of that late-life consumerism just leaves the country - travelling, bying exports, etc. The 35-44 seem to be on par to catch up with the lifestyle of the 45+ group - if the economy continues, if taxes don't rise, and if they can keep their job - a series of tall if's... However presumably they will inherit soon from the groups above, which are rather sizeable in numbers at 26%.
Hard to see the 25-34 catching up, esp. that they're spending like crazy and not saving (or can't because of the housing market). But maybe I'm missing something.

A comparison of similar data with the Yanks would be interesting...

Harrow said..

evlPanda said..My income is very, very good, but my net worth is very, very poor, compared to the averages. Have I blown that much money with nothing to show for it? I'm not frugal but I don't blow that much. I don't even own a car for Christ's sake. Where has it gone/where did other people's come from?

My income/wealth ratio is similar to the income/wealth ratio of the national averages. You don't have a car, but do own property or superannuation?

I've subtracted the mortgages.

pierrec45 said...
I was put off by NT having such top weekly earnings - suspicious, no?

Actually no. NT has always had very high average incomes. Darwin especially so.

...ah, I see. I live in fn Sydney as a single income family.



I used to think this was a comedy.