https://www.knightfrank.com/wealthreport/article/2021-03-01-…
Based on the graph above, I qualify for some countries but not Australia :(
How about you?
Note that the graph is in USD and article in 2021, therefore the numbers are probably higher now because of inflation.
I saw on the news that your time was up.
gone to the great grandsale in the sky…rip franco
I'm going to move to Kenya and live like a king.
I'd rather the Philippines.
Me too but Kenya is more of a bargain.
Ill be sure to let my Filipino ex wife know she's now the elon musk of the Philippines…
Exactly, this chart is simply depressing, a reminder that that the top 1% will forever be way richer than you could ever be unless you buy the next meme coin early and don't sell. $5.5M USD to get in the top 1% 2 years ago??? Sheeeeesh, richhhhhhh.
a reminder that that the top 1% will forever be way richer than you
Worry not… they will die nonetheless.
The final equalizer always wins.
You can still do your best to be rich in other ways. Haven't you seen It's A Wonderful Life?
I'm in the top 1% of the top 1%
I just come on here pretending to look for bargains so I can fit in.
I clicked on the link to see if I was in the top 0.1%, alas one requires a paid subscription to access the data. I didn’t get this rich by paying for frivolous subscriptions
C'mon, we all know that's a lie… what's your OnlyFans handle?
Absolutely…… in Kenya.
Yes I am in the 1%.
Should I buy a Lambo or a house
What advantages does this motorcar have over, say, a train? Which I could also afford
There are more roads than railway tracks
Lambo.
You can sleep in the car but you can't drive the house.
Can only sleep in the Urus.
Just get a neck pillow and you'll be all good in an Aventador.
Yep. You can also take a shit in a car. This kind of thinking gets people straight to the top.
Should I buy a Lambo or a house
Real 1%er: Why not both?
Depends if it's an odd or even week of the year
.
Canada not on the list, not so comprehensive.
Some shitty countries to make you feel good but a few top countries to bring you back down.
Flybuys told me I’m in the top 1% of their club..,
I am not sure you'd trust the numbers from property sales group. That is like asking them to do your financial planning. Not their area of expertise. You'd need to find out how the numbers are worked out.
Because there is top 1% of assets which is not same as top 1% of salary earners. Lots of rich people take very little income because they expense everything against the business.
I wouldn't trust them because they called Australia Australasia
According to their report 34% of their investment managers "believe the NFT art market still has a lot of potential."
Needs a POLL.
I remember this report. It's much higher than some other reports reporting on the same metrics eg Grattan Institute's stats https://grattan.edu.au/news/2023-budget-cheat-sheet-what-aus… show top 1% boomer households at 8m networth. The KN stats are on individual wealth, and reckons a top1% aussie nw is at 5.5m usd which is a GI top1% boomer household. Very different.
The KN report makes me feel povo. The GI report makes me feel ok.
The KN report might also be inclusive of PPOR.
So does the GI figures - the total nw figures are inclusive of PPOR
And I always thought that the 1 percenters were bikies
The great Ozbargain twist is we were the bikies all along. Directed by M Night Shyamalan
That car - definitely tree, not so sure 'bout the fiddy.
It's a silly trend that has been around for a while.
Christmas?
Putting a Christmas tree on an exotic car.
I’m more interested in that jimny…
I don't want to be in a club that would accept me as a member….
Funny thing is all our wealth is in property, so we're not really rich.
Indeed. Unless someone has two or more houses, their million dollar home doesn't do them much good.
"Woohoo! I'm a millionaire (in property)! I can sell the house and have a million bucks!"
"Wait… all the other houses in my area are also a million dollars, and I still need a place to live"
Why bother in 1%, I am in 99% club!!!
FYI 5.5m USD is around 8.1m AUD
As for being in the 1 percent club…..my Christmas eve dinner was a can of Tuna and a few crackers….what does that tell you
That you have taken to heart those articles that appear this time every year telling you how to not pack on the kgs over Christmas by simply not eating anything
Crackers/bread roll and tinned tuna/salmon is what i have for lunch at least 2 x per week
Canned salmon tastes so awful compared to the real thing. Chilli tuna is pretty good though, Aldi brand is great.
Tells me that your username checks out.
I don't mind tinned tuna and a few crackers for a meal - especially the rosemary and sea salt flavoured tuna.
Tells me that you like tuna. I had peanut butter toast with some homemade fermented veggies for dinner.
Mostly just because today I'll eat enough to put a small horse into a coma.
Tuna, luxury
I had a bag of crushed migoreng sprinkled over 3 day old fancy feast
Damn! I'm not even in the top 50% in Kenya.
Being born in Australia makes you 1% by default
The right answer
Yeah being poor here is a bit of a laugh compared to many countries.
Yes. BIG GREEDY LANDLORD. Nothing makes me happier than seeing rental desperation
???
lol people who have $8m don’t buy low-mid tier (<$1000pw) properties to rent to plebs.
I will be after tomorrow!
Damn Monaco X2 I am
Also, I'm from whirlpool
Don't need to be in the 1% club, sounds lonely.
Thought Latin America were in striking distance but than realised is was in USD. Back to the grind stone for another decade or so I guess.
In the 99%, let's get out the guillotine
If I had 5.5 million USD in investments I would not be on here trying to save 50 cents on Morning Fresh…
You'd be surprised how cheap they can be…
Tell us.
How cheap does Morning Fresh get?
Not yet.
So China has 15 million people worth /at least/ 1 million US dollars. Is it any wonder they can come here in huge numbers and buy up all our property?
USD$1m barely buys a well located 2 bedroom apartment in Sydney
That's why I said "at least" 1 million. Obviously the vast majority of those 15 million people have well in excess of USD1 million!
I believe many of those are local area officials who basically stole from citizens corruptly - often by giving deals to developers for kickbacks - and now they want to get the cash out of the country before Xi can put them in jail, so they're happy to buy expensive property even sight/site unseen
Without question there would be a good number of insanely rich people in China, who have become so through corrupt means. However due to the sheer number of people in the country, it would not be surprising or unusual to have 15 million people with assets totaling at least USD1m each.
lol or maybe the rise is a reflection of the country’s GDP/worldwide productivity and as a result standard of living/life expectancy/wealth has increased…. but that can’t be right we should be 50x their wealth not only 5.5x, but I suppose we are handicapped as our 5.5mil was gained by no corrupt means..they should really remain in perpetual poverty. /s
And Australia just sees it as a quick way to improve GDP, when in reality they bring next to nothing to the table.
I'm in the Tres Commas Club.
I scrape in the 1% but I live like I'm bottom 50%.
If I lived like the 1% I wouldn't be the 1% anymore.
beware the hedonic treadmill - increasing your spending as your income increases so you end up with no savings when problems arise or your income suddenly stops.
when you can finally afford to fly First Class, you look around and realise your peers have private jets … D'Oh !
Australasia
I hate this auto-correct typo of Australia, somehow it's in my browser dictionary too…
"In 2020, if you earned more than $253,066 in Australia, then you took home more than 99 per cent of taxpayers."
From my observations, about 90% of OzBargainers/ozFinance/Whirlpool fit into the top 1% of income earners.
Australians have higher net wealth than people in other first world countries because we own our superannuation; everywhere else a government pension is just an entitlement, and how much you will eventually collect depends, among other things, upon how long you live.
Not true. Its because of the high property prices. Super, 401k and other pension funds are similarly managed and owned around the world.
Everyone on whirlpool is 0.1%, give them the credit they deserve
They don't test their website in mobile view .. couldn't accept the cookies.
IT developers are a joke. How can they not test basic stuff like that?
Android pixel 8 pro
I like how mainland China rolls at nearly 5.5x as much wealth required as India, yet the latter tend to speak as if they were economically competitive.
Democracy will inhibit India's rise to become a global powerhouse.
One can argue China's success largely comes from centralised and absolute power.
im so time rich…im terminally relaxed