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I earned $25k a year in 1988 and bought a house for $56k. What chance has a young person got today to buy a house? The Government is a disgrace. Housing should not be an extra investment vehicle.
Thanks for sharing your perspective. It’s true that the housing market has changed significantly since the 80s, making it much harder for young people to enter the market today. It’s definitely a challenging issue that raises important questions about housing affordability and policy.
I'm somewhere in the top 10-1% of income earners apparently. A median house is 10x my income, I can't afford to borrow even 50% of a median house. These interest rates are unsustainable, and the house prices are too.
how much was a typical mortgage interest rate back in 1988? 18%? How does that compare to a typical interest rate in 2024 - about 6%? Plus in 2024, a higher proportion of households are dual income and women earn higher wages. How can housing not be owned by private investors in Australia? Only 3.8% of housing stock in Australia is public housing. We are very dependent on private landlords/investors to provide housing stock to renters.
Thanks for sharing. It’s definitely tough out there, even for high earners. The housing market is a challenge many are facing right now. Hang in there!
There is a pretty big mistake around 6:50 minutes in. You are using Disposable Houshold Income values to calculate middle class income when you should be using taxable household income. There is no way a hosuehold earning $44k a year can be considered middle class, and the median household income IS NOT $57k. That is the median household DISPOSABLE income.
Thank you for your quite detailed information. I had my pen and paper ready.....I am suprised with some of the findings. Your channel is on my weekly checklist.
Thank you! 😊 I’m thrilled to hear you found the information helpful and even had your pen and paper ready. It means so much that my channel is part of your weekly checklist-appreciate your support!♥
Another video worth doing is how Australians rate internationally. There is an online international wealth calculator, and I think most Australians have little idea that we are quite fortunate.
Thank you for the suggestion! 😊 I’m actually planning to do a video on this topic-it’s such an eye-opening perspective to see how Australians compare internationally. Stay tuned!
Thank you! 😊 I’m so glad you’re enjoying the background music-it’s great to hear it adds energy to your drive! Although I’ve received many feedbacks that it’s a bit too loud, so I’ll be adjusting it in future videos.
Good summary. In the end, assets are what derives your wealth position. People might be earning >150k but feel poor that's because they are without much assets... Purchase assets everyone... Not advice but a plea. Stocks, crypto or whatever!
Thank you! 😊 You’re absolutely right-assets play a huge role in building wealth. Earning a high income doesn’t always translate to financial security without investing in assets. Great reminder to focus on long-term growth!
My partner and I are on a collective 190k. We have our own home and 2 investment properties. People need to prioritise things. Too many will spend 70k on a car and be trapped in that personal loan debt with no borrowing capacity.
I guess why people (even top 10%) feel so differently on their financial status are largely affected by whether they own or don’t own properties. If you only earn say 80k a year but already paid off mortgage, you’d feel a lot less pressure than a person earns double but just started to borrow money from bank.
Absolutely! 😊 Owning a property versus carrying a large mortgage can make a huge difference in how financially secure someone feels, regardless of income. It’s not just about how much you earn but also your expenses and financial obligations. Great point! 🏠💰
Thank you for sharing your story. Being a carer is an incredible commitment, and the work you’re doing is so valuable, even if it’s not reflected in the pay. Wishing you strength and support. ♥
Low end of IQ maybe. Because you're not employed. You just look after a family member. It's great that you get paid to do that but you're not generating revenue for an organization so it's not really a job. It's the government being nice. My taxes are paying your wages. I'm not complaining, I'll take the free money too if I have to care for my wife, but I won't expect a lot... Because it's not a job. It's a. Very kind and difficult lifestyle choice
We are in a big trouble when an average salary earned in the public sector exceed the one in private. It was the other way around, because of better job security and lower working hours in the government sector. This means increased inflation, large government debts (which the kids will pay) and lower productivity accross the economy leading to the lower standards of living.
Thank you for sharing your perspective. The shift in public versus private sector earnings is a topic that sparks a lot of debate. Balancing job security, productivity, and economic sustainability is certainly complex, and the long-term impacts, like inflation and government debt, are significant concerns. It’s an important discussion to have-thank you for contributing! 😊
Thanks for sharing. It’s a stark reminder of how tough the housing market has become, even for those in the top income brackets. Hopefully, things improve soon!
Thank you for sharing your perspective. Being in the top 5% and still struggling highlights how tough the current economic climate is. It’s clear many feel the need for significant changes to address these challenges. Hang in there! 😊
I'm near retirement age and my current wage is top 20% but my net worth puts me well within top 10%. I have invested in shares and own 2 properties outright. My first livin house was a modest 3 bedroom, one bathroom, purchased in 1987 for $68,500, sold it in 1992 for $104,900. That house sold in 2023 for 1.2mill. No wonder why young people are struggling to purchase a house. To me it is almost criminal.
Thanks for sharing your experience. It’s a stark illustration of how much the property market has changed over the years. The affordability gap for young people today is definitely a significant issue and highlights the challenges of navigating the current housing landscape. I’m actually making a video about this issue-stay tuned!
Thanks for sharing! 😊 Earning $200k in Sydney can definitely feel different with the high cost of living-it really puts things into perspective. You’re not alone in feeling that way!
Search for friends outside of your social circle. Listening to my general manager chatting with our client over lunch or tea meeting or catch ups keep opening my eyes to how the other half lives. Their talk about how their new house build is coming along, cars they're getting or trading in, horses or pets or hobby items and projects they got or where they're going over the weekend. Meanwhile I'm sitting there thinking I can hardly afford the food and drink here if the GM was not the one paying with his company credit card, he don't pay me nearly enough to do any of that.
@PeterParker-st9ps not everyone is eating avocado and chai lattes everyday. It's like going back to 1980 and telling everyone to stop eating bacon and eggs and smoking 1 pack a day to stopmbeing poor. Same class of people who can afford those thing but they switched to more healthy avocados instead of bacon and chai lattes instead of pack of cigarettes. It's like pointing to the people camping outside Apple stores to buy new $1000 iPhones every year and saying they should stop complaining about skipping meals so their children can have something to eat and deciding between paying for electricity so they have heating in winter or paying the rent this month.
Interesting, I earned $112k with bonuses last year. Didn't realise that'd have me nipping at the heels of the top 10%!! That said though, is it possible to break down the data by state/city or is that not supplied by the ATO? Only reason I ask is as I live in Perth and where $112k gets you a decent life here, $200k barely pays your mortgage in Sydney. Thanks for the video either way 🙏
Thanks for sharing! 😊 Earning $112k and being close to the top 10% can be surprising-it’s all about perspective and location, as you mentioned. The ATO data is indeed quite detailed, and I believe it’s possible to extract information by state. I’ll keep this in mind for future videos-here’s the link to the data source if you’d like to explore it: www.ato.gov.au/about-ato/research-and-statistics/in-detail/taxation-statistics/taxation-statistics-2021-22/statistics/individuals-statistics Appreciate your interest and feedback! 🙏🎥
Surprised I'm in top 10%. Bank interest pushes over my 120,000 mark. But mortgage repayments would be 40% to 50% of my aftertax income. Not good buying a house in Australia
Thanks for sharing your situation! 😊 Being in the top 10% can be surprising, but housing affordability in Australia is a challenge for many, especially with high mortgage repayments taking such a large portion of after-tax income. It highlights the difficulties of balancing income and living costs in the current market. Hang in there!
Very interesting video. Thanks. Im well above the 1% which is sort of surprising but also not. I have no idea how you can live in Sydney etc on like 60-80k a year. Let alone with a family. Everything is super expensive.
Thank you! 😊 I’m glad you found the video interesting. It’s definitely challenging to live in cities like Sydney on $60-80k, especially with a family. The high cost of living makes financial planning more important than ever!
the taxation system in Australia needs a complete Overhaul..too many taxes are imposed on savers...capital gains....taxes on interest accrual based on one's already taxed income...the tax system in australia is designed to penalise those who are trying to save to get ahead in life
Thank you for sharing your perspective! 😊 Many people feel similarly about the challenges savers face under the current tax system. It’s definitely a complex issue, and discussions around how to make the system more supportive of those trying to get ahead are important.
They have no other income streams, no government owned manufacturing, mining etc...all they have left, to create a budget, is taxes, fees & fines. To be honest, I'd have no problem with taxes, even tho I've paid more than what few people combined will earn in a lifetime. What I have a problem with is the way that collected tax goes to waste, while the national debt is pushed to new ath levels...we're following in US footsteps and it wont be long before, what this country used to be, turns into a slum...
Really good video, especially explaining the methodology differences between different measurements. Having been through these sources I know how much of a pain it is!
Thank you! 😊 I’m glad you appreciated the explanation. It definitely can be a pain to sift through different methodologies, so I’m happy the video made it clearer!
I was born in Australia and I'm in the top 10% of income earners and I am looking at leaving Australia. The quality of life has decreased drastically and I'd rather take my wealth elsewhere. The housing ponzi has become a joke and I don't want to pay interest in Australia until I die. Other countries have housing, water, food and community. Don't feel like I would miss out on anything by leaving.
Thanks for sharing your thoughts. It’s tough when the cost of living and housing market make it feel like quality of life is slipping. Exploring opportunities abroad can definitely be a way to reassess priorities and find a lifestyle that aligns with your goals. Wishing you the best in whatever you decide!❤
lol. I LIVED OVERSEAS for more than 15 years. because of this i love australia more than the average aussie, and i of course have more reason to. knowledge and experience. GOOD MOVE, GOING OVERSEAS WILL HELP YOU TO REALIZE how good oz is. good luck !!!
@@NOOFSMODS I will travel to as many countries as possible while making AUD, so the cost of living will most likely help my financial situation anyway. I will enjoy the experience of travelling rather than being a wage slave for the next few years. But even if I don't like it, I can come back to Australia and continue making good money.
Great question! 😊 There are many figures mentioned, and they all have different definitions. When it comes to taxable income, yes, it does include realised capital gains.
Thanks for sharing! 😊 It’s a tough reality for many-the numbers might say one thing, but day-to-day expenses tell a different story. You’re not alone in feeling that way! 😂
That’s an interesting point! 😊 CEO incomes can certainly skew data when calculating averages, but they’re still classified as employees under most reporting standards. It’s a common debate when analysing income distribution!
Music is too loud. I have to fight the pounding of the music to listen to the figures in the backgrounds. Not everybody can understand figures easily, especially when you talk fast over the loud music.
Thank you for the feedback! 😊 I’ll work on lowering the background music volume and slowing down the pace to make the figures easier to follow. I really appreciate you letting me know!
That’s an incredible achievement-well done! 😊 It’s inspiring to see how you’ve managed your finances to achieve such significant milestones. Thanks for sharing your story!
Gday Rui, great video! I like your style of videos. May i ask what you use to edit your videos, would love to look at doing something similar within my field.
Thanks for the feedback! 😊 I’ll consider either removing the background music or lowering the volume in future videos to make them more enjoyable. Appreciate you letting me know!
Many of these wealth distribution studies are incredibly misleading because they don't factor in the financial situation of the people earning the money. For example, a middle aged husband and wife supporting a family of teenagers has very different expenses compared to a 20 year old student working part time and living in a share house. Additionally, as people get older and more experienced in their careers it's also expected they'll get paid more. Where you find yourself on the income distribution chart is often more correlated with age and work experience than it is with some sort of inequality in society. The point is, if you're going to compare your income to someone else it should at least be someone roughly the same age, doing roughly the same job. It's completely nonsensical to compare a teenage McDonald's worker with a Neurosurgeon. But that's exactly what these charts do when they compare to "other Australians".
Great points! 😊 The calculator mentioned towards the end of the video actually allows you to compare your income with people in your age group, which makes for a much fairer comparison. It’s definitely more meaningful to consider similar life stages and career levels when looking at income data!
Somehow I feel most people are making >$500k a year looking at their spending habit. Most of them have phones, watches, clothes and cars fancier than mine, drinks barista coffee regularly, order drinks in restaurants, fly business class, stay in 5 star hotels....etc. Yet I'm supposed to be top 1% income earner?
Thanks for sharing your thoughts! 😊 It’s interesting how spending habits can sometimes give a different impression than actual incomes. Lifestyle choices, debt, and financial priorities often paint a more complex picture. Being in the top 1% income-wise is definitely an achievement!
@@michaelkao2094 all of these do not make you wealthy quite the opposite and one last thing high earners might make it for a little while and then they lose the job or peaple with businesses might go well for 5 years then finish up
Do these data take into account franked dividend income and other tax reduction techniques? The abs data for Mosman for example suggest that the average income for a mosman household would be approximately $150k per year and yet the median house cost $5.7 million and the average apartment $1.3 million in that area. Both these prices are clearly above what banks will lend to a $150k household (grossly approx $750k at 5x annial income).
Great question! 😊 Depending on which ABS report and specific figures you’re referring to, the numbers can vary-some reflect gross income, some taxable income, and others total disposable income. The phenomenon you’re describing is indeed mind-boggling, and it’s a big part of why so many people feel property prices are out of reach. It’s definitely a topic worth exploring further!
Average and median incomes aren’t buying the houses. Most recent house price set at the margins. So only much higher incomes and or selling previously owned property and stepping up a suburb whilst carrying a $1m debt the whole time
Thanks for sharing! 😊 Earning $100k is great, but with Melbourne’s cost of living, it’s understandable why it might not feel like a lot. You’re definitely not alone in feeling this way! 🏙️💰
Great idea! 😊 Comparing spending habits and addressing common pitfalls like wasting money would make for an interesting topic. Thanks for the suggestion-I’ll definitely consider it for a future video!
Thanks for sharing. It’s a tough reality for many-being in the top percentiles doesn’t always translate to feeling comfortable, especially with rising living costs. Hang in there!
It’s great to hear you’re in a comfortable position! 😊 The details can be complex, but the fact that you have the freedom to buy what you want is a big blessing. Thanks for sharing!
I'm not sure if you've always embedded subtitles in your video, but it's completely off putting, especially when you show other text content on the screen. My advice has little value, but I've given it.
The reason for the real-wage decline is because of the pandemic. The government printed too much money and paid people to stay at home - which is fundamentally unproductive. People should not have been paid to sit at home and although it would have hurt there would not be the inflation and real-wage decline we are seeing now.
Thanks for sharing your perspective! The pandemic and the economic response to it have certainly sparked a lot of debate. While measures like stimulus payments aimed to support people during an unprecedented crisis, the long-term effects, like inflation and real-wage declines, have been challenging for many. It’s a complex issue with differing viewpoints on the best course of action. Appreciate you contributing to the discussion! 😊
According to these figures I would be in the top 6/5 percent of income earners. I have zero debt and have chosen to rent rather than buy a house because the numbers don't add up in the current market when considering all factors. However, despite not having to worry about money to pay my bills, I feel more and more like I'm still just a cog in the wheel with huge taxes and all the government regulations and policies making it very difficult to achieve true financial freedom. The Australian government is honestly more of a roadblock to achieving wealth and financial freedom than an enabler which is completely illogical and self-destructive in my opinion. If you want a strong economy in the future, you need to empower and support the people who are building that future economy. This is why governments should NEVER control the economy. Every time governments become too powerful and take control of the economy; they always end up destroying it. Government's role is simply to enable, empower, support, and protect the people who are building the future economy. The citizens of a country are its lifeblood and future, not the government.
Thank you for sharing your thoughts and experience! 😊 It sounds like you’ve made some thoughtful financial decisions, like choosing to rent and staying debt-free. It’s true that taxes and regulations can feel like a hurdle for many trying to achieve financial freedom. The balance between government involvement and enabling economic growth is always a heated debate, and your perspective highlights some important points about empowerment and support for individuals driving the future economy.
i dont know about others, but i can't see anyone earning below 100k around me. This even includes cleaners and gardeners . The only ppl making less are perhaps the uber drivers.
I'm 24 and I'm currently making 350k per year. My parents set up a fund for me when I was 6 yrs old and it generates around 85k per year passively. Until recently I thought I was only average.
Thanks for sharing! 😊 That’s an incredible position to be in, especially at 24! It’s easy to lose perspective when comparing ourselves to others, but recognising your achievements and advantages is a great step. Wishing you continued success! 🎉
If Australians were paid their share of wealth from mining and international corperations paid their taxes Australians wouldnt have to pay tax at all..!
Thanks for sharing your perspective! It’s a thought-provoking idea-there’s definitely an ongoing debate about resource wealth and corporate taxation, and how they could be better utilised to benefit everyone. It’s an important conversation to have!
Thanks for the analogy-it’s a clever way to describe income distribution in Australia! The disparity between income levels does feel stark, like a narrow base and a steep climb to the top. Definitely something to think about! 😊
Hi! 😊 Thanks for reaching out. I’m actually looking for an editor right now. If you’ve seen my ad on one of those websites, please feel free to respond there!
Thanks for sharing your perspective! Discussions around redistribution and fairness often spark a lot of debate. It’s definitely a complex topic with many viewpoints.
Thanks for your comment! 😊 You’re absolutely right-doing the same analysis for each city centre or metro area would likely show much higher statistics. It’s an interesting idea for future content!
This is useless if not dangerous... Comparing your income with others has no actionable relevance. What you get paid is a reflection on your experience and expertise against the value and worth you hold to your employer. If you see someone working the same job as you but getting paid more, doesnt mean you should get paid the same. Why, because you happily agreed to it at the time. But now someone else is getting paid more, you suddenly are not happy? This is called greed.
Thanks for sharing your perspective! 😊 It’s true that comparing incomes can sometimes lead to frustration rather than actionable insights. However, for some, it’s about understanding broader trends or negotiating their worth more effectively. Ultimately, everyone's situation and reaction can be different-it’s an interesting discussion!
Actually you're employer is likely to pay you the minimum they think they can get away with. Having some idea of what is out there helps you know if you should be satisfied with your current situation or if you're getting ripped off. There's plenty of experienced , hard-working and valuable employees that are getting paid less than the new hire, that is at the point of hire, more or less an unknown. Just because they're not inclined to ask for more.
Ahhhh Australia the land of the lucky and not so lucky. Where a high income earner could be living in a shoebox whilst a low income earner lives in a huge house due to generational wealth.
Thanks for sharing your thoughts. It’s definitely an interesting paradox-income doesn’t always equate to lifestyle or living conditions, especially with the impact of generational wealth. The housing market and cost of living create unique challenges for everyone, regardless of income level. It’s a complex and thought-provoking issue!
Hi, I saw your post about needing a UA-cam editor. I’d love to help make your content engaging and professional. Let me know if you’re interested. I can create a sample video for you. If you’re happy with it, we can proceed with the project.
Hi, thanks for reaching out! 😊 I’m currently working with someone on a trial basis. If it doesn’t work out, I’ll definitely consider other options. Appreciate your interest!
Thanks for the feedback! 😊 I’ll definitely take this into consideration and work on improving the audio in future videos. I appreciate you letting me know!
Middle class doesnt exist in Australia. The middle income earners cant afford a middle class living in Australia. Hell the average Australian lives in a shit hole. Relatively modern living is in a house around $1.5-2M. Instead of having a nice gradient we just have the Australian government “redistributing wages” to make it so theres no high income earners and everyone is just poor except for the uber rich (1M+ in revenue)
Thanks for sharing your perspective. The challenges faced by middle-income earners in achieving what’s considered a "middle-class" lifestyle are definitely a hot topic. Rising housing costs and living expenses have made it harder for many to feel secure, and discussions around income redistribution often spark strong opinions. It’s a complex issue that affects a lot of people-thank you for adding your voice to the conversation.
Work in oil and gas and still can't buy a house but i did want to build anyway so what ever still sucks though lucky i have a strong family connection so im not paying stupid amounts in rent every damn week put even so im looking at staying at home for another 3 years i have plenty of money in the bank but when the median house price is 738,000$ and the banks are asking for 20% deposits it is a little bit difficult and like as if you would sign your life away at that amount of debt the housing price will crash and your mortgage will be worth more then the house your buying its just another stupid trap but Australian's keep voting for the same people in politics and they wonder why the government keeps on screwing them over. What i think about the governments effort for redistribution I think they do a horrible job they should nationalize all Mining, Quarries, Oil and Gas as well as Timber, Power, water and natural gas for cooking and we should only pay GST on everything not a government surplus tax but a goods and services tax so when you buy stuff you pay tax when you don't buy stuff you don't pay tax and of course this way everyone will pay the tax they can afford and all the other taxes should be abolished last time i looked Australian mining conglomerates made 4.8 trillion dollars in PROFIT last year imagine if the Australian government made that much money per year without having to tax us all to death or have high costs of living by directly controlling the natural resources the government could easily mass produce building materials required and they could nationalize these assets so the small investors can keep their investments in mining and the big foreign board members are the only ones being given the ass but hey i guess all of what i just said would be too hard for those with only two brain cells to rub together to accomplish.
Thank you for sharing your thoughts so passionately. You’ve raised many important points about the challenges of the current housing market, high costs of living, and the broader role of government in managing resources. These are complex issues, and your perspective highlights the frustration many feel with the current system. Conversations like this are essential for fostering change and finding solutions-thank you for contributing to the discussion. 😊
I hear you-it can be overwhelming to think about sometimes. 😢 Hang in there, and remember that understanding the situation is the first step toward making positive changes! 😊
Thanks for sharing your perspective. It’s true that high-income earners contribute a significant amount in taxes, but those funds play a crucial role in supporting public services and infrastructure that benefit everyone. It’s always a topic that sparks debate! 😊
Thanks for the suggestion! 😊 I’ll keep that in mind for future videos-using mean income can provide a clearer perspective in some cases. Appreciate your feedback!
I've been investing in Bitcoin by myself. I'm not really happy with what's going on, just few weeks ago I lost about $7,000 in a particular trade. Can you help me out or at least advise me on what to do?
Blame Australian government allowing Chinese investors purchase multiple properties while living in China and selling them back at expensive price overall increasing the house prices.
Thanks for sharing your thoughts. The housing market and its rising prices are complex issues influenced by many factors, both domestic and international. It’s definitely a topic that sparks a lot of debate.
Thank you for the honest feedback! 😊 I’m sorry the music made the video hard to watch. I’ll work on adjusting or removing it in future videos to improve the experience. I really appreciate you sharing your thoughts!
no wonder I feel crap I'm in the lowest percentile bracket for my age, My personal before-tax income is greater than 12% of Australians in my age group (greater than 8% of men and 16% of women).
Thanks for sharing. It’s not easy seeing where you stand, but recognising it can be the first step toward making positive changes. Wishing you all the best on your journey!😊
⚠ Friendly Reminder ⚠ Watch out for comments promoting specific financial advisers or services-they may have their own agendas and could be scams. Stay safe and always verify sources!
you know you can delete/shadowban those account for commenting on your video correct?
@@neverfondtoo many bots she won’t be able to ban them all
I earned $25k a year in 1988 and bought a house for $56k. What chance has a young person got today to buy a house? The Government is a disgrace. Housing should not be an extra investment vehicle.
Thanks for sharing your perspective. It’s true that the housing market has changed significantly since the 80s, making it much harder for young people to enter the market today. It’s definitely a challenging issue that raises important questions about housing affordability and policy.
Can you imagine a house costing $150-200k today? House value to income ratio is hitting over 10 times now for average house.
Howard ruined the housing market to buy votes
I'm somewhere in the top 10-1% of income earners apparently. A median house is 10x my income, I can't afford to borrow even 50% of a median house.
These interest rates are unsustainable, and the house prices are too.
how much was a typical mortgage interest rate back in 1988? 18%?
How does that compare to a typical interest rate in 2024 - about 6%?
Plus in 2024, a higher proportion of households are dual income and women earn higher wages.
How can housing not be owned by private investors in Australia? Only 3.8% of housing stock in Australia is public housing. We are very dependent on private landlords/investors to provide housing stock to renters.
Ah yes. I am a top 10% and still nowhere near being able to afford a house.. This is fine..
Thanks for sharing. It’s definitely tough out there, even for high earners. The housing market is a challenge many are facing right now. Hang in there!
better learn to code and make a second income.
@@PeterParker-st9ps I am a software engineer already.. Unfortunately AU salary in this field isn't even close to US.
@@Forged-By-Iron that's unfortunate. Maybe go drive trucks in an iron-ore mine and make the big bucks.
@@Forged-By-IronTrue
There is a pretty big mistake around 6:50 minutes in. You are using Disposable Houshold Income values to calculate middle class income when you should be using taxable household income. There is no way a hosuehold earning $44k a year can be considered middle class, and the median household income IS NOT $57k. That is the median household DISPOSABLE income.
Thank you for your quite detailed information. I had my pen and paper ready.....I am suprised with some of the findings. Your channel is on my weekly checklist.
Thank you! 😊 I’m thrilled to hear you found the information helpful and even had your pen and paper ready. It means so much that my channel is part of your weekly checklist-appreciate your support!♥
Just finished my workout routine, thanks for your video
Glad it helps! 😊 Sounds like you’re one of the few who actually enjoy the pumping music-perfect for a workout! 😂
Another video worth doing is how Australians rate internationally. There is an online international wealth calculator, and I think most Australians have little idea that we are quite fortunate.
Thank you for the suggestion! 😊 I’m actually planning to do a video on this topic-it’s such an eye-opening perspective to see how Australians compare internationally. Stay tuned!
Fortunate that the average house price is unaffordable?
@@Happypunter we are not alone there.
We are fortunate but higher take home pay still just gets eaten up by everything costing more here.
@@Happypunter you are not supposed to be able to afford a house with just a few years pay.
I love the background music Rui. It really pumps me up on my drive to work while I listen to your voice.
Thank you! 😊 I’m so glad you’re enjoying the background music-it’s great to hear it adds energy to your drive! Although I’ve received many feedbacks that it’s a bit too loud, so I’ll be adjusting it in future videos.
Good summary.
In the end, assets are what derives your wealth position.
People might be earning >150k but feel poor that's because they are without much assets...
Purchase assets everyone... Not advice but a plea. Stocks, crypto or whatever!
Thank you! 😊 You’re absolutely right-assets play a huge role in building wealth. Earning a high income doesn’t always translate to financial security without investing in assets. Great reminder to focus on long-term growth!
My partner and I are on a collective 190k. We have our own home and 2 investment properties. People need to prioritise things. Too many will spend 70k on a car and be trapped in that personal loan debt with no borrowing capacity.
I guess why people (even top 10%) feel so differently on their financial status are largely affected by whether they own or don’t own properties. If you only earn say 80k a year but already paid off mortgage, you’d feel a lot less pressure than a person earns double but just started to borrow money from bank.
Absolutely! 😊 Owning a property versus carrying a large mortgage can make a huge difference in how financially secure someone feels, regardless of income. It’s not just about how much you earn but also your expenses and financial obligations. Great point! 🏠💰
I'm a Carer, i do 120 hours per week looking after a disabled wife. That works out to be about $4.76 per hour. I guess I'm at the low end of Australia
Thank you for sharing your story. Being a carer is an incredible commitment, and the work you’re doing is so valuable, even if it’s not reflected in the pay. Wishing you strength and support. ♥
Low end of IQ maybe. Because you're not employed. You just look after a family member. It's great that you get paid to do that but you're not generating revenue for an organization so it's not really a job. It's the government being nice. My taxes are paying your wages. I'm not complaining, I'll take the free money too if I have to care for my wife, but I won't expect a lot... Because it's not a job. It's a. Very kind and difficult lifestyle choice
We are in a big trouble when an average salary earned in the public sector exceed the one in private. It was the other way around, because of better job security and lower working hours in the government sector. This means increased inflation, large government debts (which the kids will pay) and lower productivity accross the economy leading to the lower standards of living.
Thank you for sharing your perspective. The shift in public versus private sector earnings is a topic that sparks a lot of debate. Balancing job security, productivity, and economic sustainability is certainly complex, and the long-term impacts, like inflation and government debt, are significant concerns. It’s an important discussion to have-thank you for contributing! 😊
Very well-explained. Thank you.
Glad it was helpful!
Wow, today I learned I'm in the top 20% of earners in Australia but I still can't secure a loan for a house.
Thanks for sharing. It’s a stark reminder of how tough the housing market has become, even for those in the top income brackets. Hopefully, things improve soon!
Top 5% and I’m struggling. This country is in dire need of change.
Thank you for sharing your perspective. Being in the top 5% and still struggling highlights how tough the current economic climate is. It’s clear many feel the need for significant changes to address these challenges. Hang in there! 😊
I'm near retirement age and my current wage is top 20% but my net worth puts me well within top 10%. I have invested in shares and own 2 properties outright. My first livin house was a modest 3 bedroom, one bathroom, purchased in 1987 for $68,500, sold it in 1992 for $104,900. That house sold in 2023 for 1.2mill. No wonder why young people are struggling to purchase a house. To me it is almost criminal.
Thanks for sharing your experience. It’s a stark illustration of how much the property market has changed over the years. The affordability gap for young people today is definitely a significant issue and highlights the challenges of navigating the current housing landscape. I’m actually making a video about this issue-stay tuned!
I earn around 200k a year and definitely dont feel like im in the upper class, guess thats what sydney does to you
Thanks for sharing! 😊 Earning $200k in Sydney can definitely feel different with the high cost of living-it really puts things into perspective. You’re not alone in feeling that way!
among my peers 200k a year definitely is doing poorly
Search for friends outside of your social circle. Listening to my general manager chatting with our client over lunch or tea meeting or catch ups keep opening my eyes to how the other half lives. Their talk about how their new house build is coming along, cars they're getting or trading in, horses or pets or hobby items and projects they got or where they're going over the weekend. Meanwhile I'm sitting there thinking I can hardly afford the food and drink here if the GM was not the one paying with his company credit card, he don't pay me nearly enough to do any of that.
Stop eating avocado breakfasts and chai lattes every day. Your income will stretch further.
@PeterParker-st9ps not everyone is eating avocado and chai lattes everyday. It's like going back to 1980 and telling everyone to stop eating bacon and eggs and smoking 1 pack a day to stopmbeing poor. Same class of people who can afford those thing but they switched to more healthy avocados instead of bacon and chai lattes instead of pack of cigarettes. It's like pointing to the people camping outside Apple stores to buy new $1000 iPhones every year and saying they should stop complaining about skipping meals so their children can have something to eat and deciding between paying for electricity so they have heating in winter or paying the rent this month.
Wow really impressed here, usually there’s quite a large amount of skewed data in these style
of videos but this is really well put together! :)
Thank you so much! 😊 I’m really glad you found the video well put together-it means a lot to hear that!
According to TikTok, 'everyone' seems to earn 150K or more :-).
😂 It sure seems that way on TikTok! Social media can definitely give a skewed perspective-real-world stats often paint a very different picture.
Interesting, I earned $112k with bonuses last year. Didn't realise that'd have me nipping at the heels of the top 10%!!
That said though, is it possible to break down the data by state/city or is that not supplied by the ATO? Only reason I ask is as I live in Perth and where $112k gets you a decent life here, $200k barely pays your mortgage in Sydney.
Thanks for the video either way 🙏
Thanks for sharing! 😊 Earning $112k and being close to the top 10% can be surprising-it’s all about perspective and location, as you mentioned. The ATO data is indeed quite detailed, and I believe it’s possible to extract information by state. I’ll keep this in mind for future videos-here’s the link to the data source if you’d like to explore it: www.ato.gov.au/about-ato/research-and-statistics/in-detail/taxation-statistics/taxation-statistics-2021-22/statistics/individuals-statistics
Appreciate your interest and feedback! 🙏🎥
Surprised I'm in top 10%. Bank interest pushes over my 120,000 mark. But mortgage repayments would be 40% to 50% of my aftertax income. Not good buying a house in Australia
Thanks for sharing your situation! 😊 Being in the top 10% can be surprising, but housing affordability in Australia is a challenge for many, especially with high mortgage repayments taking such a large portion of after-tax income. It highlights the difficulties of balancing income and living costs in the current market. Hang in there!
Very interesting video. Thanks. Im well above the 1% which is sort of surprising but also not. I have no idea how you can live in Sydney etc on like 60-80k a year. Let alone with a family. Everything is super expensive.
Thank you! 😊 I’m glad you found the video interesting. It’s definitely challenging to live in cities like Sydney on $60-80k, especially with a family. The high cost of living makes financial planning more important than ever!
I did it on $49k. But that was five years ago and I lived in a van.
the taxation system in Australia needs a complete Overhaul..too many taxes are imposed on savers...capital gains....taxes on interest accrual based on one's already taxed income...the tax system in australia is designed to penalise those who are trying to save to get ahead in life
Thank you for sharing your perspective! 😊 Many people feel similarly about the challenges savers face under the current tax system. It’s definitely a complex issue, and discussions around how to make the system more supportive of those trying to get ahead are important.
True right bro.🎉
It'll be good if the first $10k earned in interest is taxed at a 50% discount to your marginal tax rate. A simple policy to implement and not complex.
They don't want you to save mate, that doesn't build businesses
They have no other income streams, no government owned manufacturing, mining etc...all they have left, to create a budget, is taxes, fees & fines. To be honest, I'd have no problem with taxes, even tho I've paid more than what few people combined will earn in a lifetime. What I have a problem with is the way that collected tax goes to waste, while the national debt is pushed to new ath levels...we're following in US footsteps and it wont be long before, what this country used to be, turns into a slum...
Really good video, especially explaining the methodology differences between different measurements. Having been through these sources I know how much of a pain it is!
Thank you! 😊 I’m glad you appreciated the explanation. It definitely can be a pain to sift through different methodologies, so I’m happy the video made it clearer!
I was born in Australia and I'm in the top 10% of income earners and I am looking at leaving Australia. The quality of life has decreased drastically and I'd rather take my wealth elsewhere. The housing ponzi has become a joke and I don't want to pay interest in Australia until I die. Other countries have housing, water, food and community. Don't feel like I would miss out on anything by leaving.
Thanks for sharing your thoughts. It’s tough when the cost of living and housing market make it feel like quality of life is slipping. Exploring opportunities abroad can definitely be a way to reassess priorities and find a lifestyle that aligns with your goals. Wishing you the best in whatever you decide!❤
lol. I LIVED OVERSEAS for more than 15 years. because of this i love australia more than the average aussie, and i of course have more reason to. knowledge and experience. GOOD MOVE, GOING OVERSEAS WILL HELP YOU TO REALIZE how good oz is. good luck !!!
Like which countries?
@@adurasarangheyo9597 Yeah you could be right. I will find out for myself from my own experience. Thanks for sharing yours
@@NOOFSMODS I will travel to as many countries as possible while making AUD, so the cost of living will most likely help my financial situation anyway. I will enjoy the experience of travelling rather than being a wage slave for the next few years. But even if I don't like it, I can come back to Australia and continue making good money.
I have dropped my hours to around 30/week and is now 92nd percentile for income.
That’s impressive! 😊 Dropping to 30 hours a week and still being in the 92nd percentile is a great achievement-well done!
We are not fooled by the fake bitcoin conversation.
Great video, thanks!
Glad you liked it!😊
Do you know if these figures include income from realised capital gains? Many people make significant amounts from capital gains.
Great question! 😊 There are many figures mentioned, and they all have different definitions. When it comes to taxable income, yes, it does include realised capital gains.
Looks like I'm in top 10%, but I still have to check prices when I go woolies. Definitely doesn't feel like I'm up there, feels more like top 30-40% 😂
Thanks for sharing! 😊 It’s a tough reality for many-the numbers might say one thing, but day-to-day expenses tell a different story. You’re not alone in feeling that way! 😂
Why are CEO's even considered as employees? Their income greatly skews the data and should be considered as outliers.
That’s an interesting point! 😊 CEO incomes can certainly skew data when calculating averages, but they’re still classified as employees under most reporting standards. It’s a common debate when analysing income distribution!
Only someone who doesn't understand statistics would make such a claim. The more diverse the sample, the more robust the analyses.
What a dumb comment.🙄
@@jimmyb4982 so accounting for the 1% definitely wouldn't skew the general average, and count as an outlier? Sure.
Music is too loud. I have to fight the pounding of the music to listen to the figures in the backgrounds. Not everybody can understand figures easily, especially when you talk fast over the loud music.
Thank you for the feedback! 😊 I’ll work on lowering the background music volume and slowing down the pace to make the figures easier to follow. I really appreciate you letting me know!
Yeah, I struggled to hear what she's saying, Don't understand why educational videos need music. It doesn't add to the experience at all.
Nice well researched as always
Thank you! 😊 I’m glad you found it well-researched-your support means a lot!
Only earnings 50-80k i brought a house paid it off and travelled the would over the last decade..
That’s an incredible achievement-well done! 😊 It’s inspiring to see how you’ve managed your finances to achieve such significant milestones. Thanks for sharing your story!
Gday Rui, great video! I like your style of videos. May i ask what you use to edit your videos, would love to look at doing something similar within my field.
Thanks! 😊 I use a combination of Adobe Premiere Pro and Canva to edit my videos. Best of luck with your content-sounds exciting!
@OZRuiShi thank you 😁
Awesome vid! No BS just facts. PS don't need the music lol
Thank you! 😊 I’m glad you enjoyed the video. Noted about the music, I’ll keep that in mind for future videos.
I get 27k a year.
Thank you for sharing. It’s definitely tough to manage on that income-wishing you all the best as you navigate your financial journey!
Get rid of your background music. It's not necessary, and annoying can be so distractive. Thx
Thanks for the feedback! 😊 I’ll consider either removing the background music or lowering the volume in future videos to make them more enjoyable. Appreciate you letting me know!
Lowered volume would work well
Shut music
Damn, I thought it went pretty hard 😅
Music is louder than the voice, how do you even think this is ok? Admit your mistake or get another job
Many of these wealth distribution studies are incredibly misleading because they don't factor in the financial situation of the people earning the money.
For example, a middle aged husband and wife supporting a family of teenagers has very different expenses compared to a 20 year old student working part time and living in a share house. Additionally, as people get older and more experienced in their careers it's also expected they'll get paid more. Where you find yourself on the income distribution chart is often more correlated with age and work experience than it is with some sort of inequality in society.
The point is, if you're going to compare your income to someone else it should at least be someone roughly the same age, doing roughly the same job. It's completely nonsensical to compare a teenage McDonald's worker with a Neurosurgeon. But that's exactly what these charts do when they compare to "other Australians".
Great points! 😊 The calculator mentioned towards the end of the video actually allows you to compare your income with people in your age group, which makes for a much fairer comparison. It’s definitely more meaningful to consider similar life stages and career levels when looking at income data!
wow that's cool!
Glad you think so! 😊
Somehow I feel most people are making >$500k a year looking at their spending habit. Most of them have phones, watches, clothes and cars fancier than mine, drinks barista coffee regularly, order drinks in restaurants, fly business class, stay in 5 star hotels....etc. Yet I'm supposed to be top 1% income earner?
Thanks for sharing your thoughts! 😊 It’s interesting how spending habits can sometimes give a different impression than actual incomes. Lifestyle choices, debt, and financial priorities often paint a more complex picture. Being in the top 1% income-wise is definitely an achievement!
Yeah they possibly may spend it then complain they can't afford a house how sad
@@michaelkao2094 all of these do not make you wealthy quite the opposite and one last thing high earners might make it for a little while and then they lose the job or peaple with businesses might go well for 5 years then finish up
Do these data take into account franked dividend income and other tax reduction techniques? The abs data for Mosman for example suggest that the average income for a mosman household would be approximately $150k per year and yet the median house cost $5.7 million and the average apartment $1.3 million in that area. Both these prices are clearly above what banks will lend to a $150k household (grossly approx $750k at 5x annial income).
Great question! 😊 Depending on which ABS report and specific figures you’re referring to, the numbers can vary-some reflect gross income, some taxable income, and others total disposable income. The phenomenon you’re describing is indeed mind-boggling, and it’s a big part of why so many people feel property prices are out of reach. It’s definitely a topic worth exploring further!
Average and median incomes aren’t buying the houses. Most recent house price set at the margins. So only much higher incomes and or selling previously owned property and stepping up a suburb whilst carrying a $1m debt the whole time
I get paid about $100k in Melbourne which is good, but i definitely dont feel rich.
Thanks for sharing! 😊 Earning $100k is great, but with Melbourne’s cost of living, it’s understandable why it might not feel like a lot. You’re definitely not alone in feeling this way! 🏙️💰
Wow, 35K views!!!
All of the negative comments about your video’s background music must have boosted it in the UA-cam algorithm…
It’s funny how feedback works sometimes-every comment helps the algorithm in its own way. I’ll take the views as a win!😊
Should do a video comparing spending. Wasting money is the main problem I see with my friends and family.
Great idea! 😊 Comparing spending habits and addressing common pitfalls like wasting money would make for an interesting topic. Thanks for the suggestion-I’ll definitely consider it for a future video!
I’m probably 95% percentile and family income 90% percentile, still feeling not having much 😢disposable income
Thanks for sharing. It’s a tough reality for many-being in the top percentiles doesn’t always translate to feeling comfortable, especially with rising living costs. Hang in there!
I don't understand a lot of this, except that I am lucky I can buy what I want.
It’s great to hear you’re in a comfortable position! 😊 The details can be complex, but the fact that you have the freedom to buy what you want is a big blessing. Thanks for sharing!
I'm rich baby!
🎉 Enjoy it!💰😄
I'm not sure if you've always embedded subtitles in your video, but it's completely off putting, especially when you show other text content on the screen.
My advice has little value, but I've given it.
Thanks for your feedback! 😊 The subtitles in this video aren’t embedded-you can turn them off in your video settings. Hope that helps!
The reason for the real-wage decline is because of the pandemic. The government printed too much money and paid people to stay at home - which is fundamentally unproductive. People should not have been paid to sit at home and although it would have hurt there would not be the inflation and real-wage decline we are seeing now.
Thanks for sharing your perspective! The pandemic and the economic response to it have certainly sparked a lot of debate. While measures like stimulus payments aimed to support people during an unprecedented crisis, the long-term effects, like inflation and real-wage declines, have been challenging for many. It’s a complex issue with differing viewpoints on the best course of action. Appreciate you contributing to the discussion! 😊
According to these figures I would be in the top 6/5 percent of income earners. I have zero debt and have chosen to rent rather than buy a house because the numbers don't add up in the current market when considering all factors. However, despite not having to worry about money to pay my bills, I feel more and more like I'm still just a cog in the wheel with huge taxes and all the government regulations and policies making it very difficult to achieve true financial freedom.
The Australian government is honestly more of a roadblock to achieving wealth and financial freedom than an enabler which is completely illogical and self-destructive in my opinion. If you want a strong economy in the future, you need to empower and support the people who are building that future economy. This is why governments should NEVER control the economy. Every time governments become too powerful and take control of the economy; they always end up destroying it. Government's role is simply to enable, empower, support, and protect the people who are building the future economy. The citizens of a country are its lifeblood and future, not the government.
Thank you for sharing your thoughts and experience! 😊 It sounds like you’ve made some thoughtful financial decisions, like choosing to rent and staying debt-free. It’s true that taxes and regulations can feel like a hurdle for many trying to achieve financial freedom. The balance between government involvement and enabling economic growth is always a heated debate, and your perspective highlights some important points about empowerment and support for individuals driving the future economy.
i dont know about others, but i can't see anyone earning below 100k around me. This even includes cleaners and gardeners . The only ppl making less are perhaps the uber drivers.
Thanks for sharing your perspective! Earnings can definitely vary a lot depending on location and industry. 🚗💰
So the girl who made your cappuccino this morning is earning over $100k? Grow up
@@Asher104 Yeah, it's a silly argument. Plenty of professions do not pay over 100K for non-managerial roles.
I'm 24 and I'm currently making 350k per year. My parents set up a fund for me when I was 6 yrs old and it generates around 85k per year passively. Until recently I thought I was only average.
Thanks for sharing! 😊 That’s an incredible position to be in, especially at 24! It’s easy to lose perspective when comparing ourselves to others, but recognising your achievements and advantages is a great step. Wishing you continued success! 🎉
If Australians were paid their share of wealth from mining and international corperations paid their taxes Australians wouldnt have to pay tax at all..!
Thanks for sharing your perspective! It’s a thought-provoking idea-there’s definitely an ongoing debate about resource wealth and corporate taxation, and how they could be better utilised to benefit everyone. It’s an important conversation to have!
Its funny that the top 10% is still middle income,
I am interested to find out wealth distribution 😂
Stay tuned! 😊
Smart woman!
Thank you so much! 😊 I really appreciate your kind words!
Australia doesn’t have a pyramid shape income distribution. It’s Eiffel Tower shaped.
Thanks for the analogy-it’s a clever way to describe income distribution in Australia! The disparity between income levels does feel stark, like a narrow base and a steep climb to the top. Definitely something to think about! 😊
Top 1%.. still feel poor
Thanks for sharing. It’s a tough reality for many-high income doesn’t always feel like it stretches far, especially with the rising cost of living.
110k, currently wearing socks with holes in them
Thanks for sharing! 😊 Earning well doesn’t always mean spending big-those socks are a sign of true commitment to saving! 😂
Hi Rui,been watching your finance content for a while.Im content strategist so ,would you be interested my editing and strategy
Hi! 😊 Thanks for reaching out. I’m actually looking for an editor right now. If you’ve seen my ad on one of those websites, please feel free to respond there!
@OZRuiShi your email?
What convenient timing
Sometimes timing works out perfectly! 😊
Music is so dominant. Get rid of it.
Thanks for the feedback! 😊 I’ll look into reducing the music volume or removing it to improve the experience. Appreciate you letting me know!
Great accent.
Thank you so much! 😊 Glad you enjoyed it!
“Redistribution” another word for theft! What is “fair”?
Thanks for sharing your perspective! Discussions around redistribution and fairness often spark a lot of debate. It’s definitely a complex topic with many viewpoints.
Much more useful to do the same analysis for every city centre/ metro area, the above statistics would be much lower compared to it.
Thanks for your comment! 😊 You’re absolutely right-doing the same analysis for each city centre or metro area would likely show much higher statistics. It’s an interesting idea for future content!
This is useless if not dangerous... Comparing your income with others has no actionable relevance. What you get paid is a reflection on your experience and expertise against the value and worth you hold to your employer. If you see someone working the same job as you but getting paid more, doesnt mean you should get paid the same. Why, because you happily agreed to it at the time. But now someone else is getting paid more, you suddenly are not happy? This is called greed.
Thanks for sharing your perspective! 😊 It’s true that comparing incomes can sometimes lead to frustration rather than actionable insights. However, for some, it’s about understanding broader trends or negotiating their worth more effectively. Ultimately, everyone's situation and reaction can be different-it’s an interesting discussion!
Actually you're employer is likely to pay you the minimum they think they can get away with. Having some idea of what is out there helps you know if you should be satisfied with your current situation or if you're getting ripped off. There's plenty of experienced , hard-working and valuable employees that are getting paid less than the new hire, that is at the point of hire, more or less an unknown. Just because they're not inclined to ask for more.
Ahhhh Australia the land of the lucky and not so lucky. Where a high income earner could be living in a shoebox whilst a low income earner lives in a huge house due to generational wealth.
Thanks for sharing your thoughts. It’s definitely an interesting paradox-income doesn’t always equate to lifestyle or living conditions, especially with the impact of generational wealth. The housing market and cost of living create unique challenges for everyone, regardless of income level. It’s a complex and thought-provoking issue!
Hi, I saw your post about needing a UA-cam editor. I’d love to help make your content engaging and professional. Let me know if you’re interested. I can create a sample video for you. If you’re happy with it, we can proceed with the project.
Hi, thanks for reaching out! 😊 I’m currently working with someone on a trial basis. If it doesn’t work out, I’ll definitely consider other options. Appreciate your interest!
Background sound is annoying and makes you hard to understand. It’s unwatchable to my ears
Thanks for the feedback! 😊 I’ll definitely take this into consideration and work on improving the audio in future videos. I appreciate you letting me know!
You're English very good for Chinese
Your!
Thank you! 😊 I appreciate the compliment.
Middle class doesnt exist in Australia. The middle income earners cant afford a middle class living in Australia. Hell the average Australian lives in a shit hole. Relatively modern living is in a house around $1.5-2M. Instead of having a nice gradient we just have the Australian government “redistributing wages” to make it so theres no high income earners and everyone is just poor except for the uber rich (1M+ in revenue)
Thanks for sharing your perspective. The challenges faced by middle-income earners in achieving what’s considered a "middle-class" lifestyle are definitely a hot topic. Rising housing costs and living expenses have made it harder for many to feel secure, and discussions around income redistribution often spark strong opinions. It’s a complex issue that affects a lot of people-thank you for adding your voice to the conversation.
Work in oil and gas and still can't buy a house but i did want to build anyway so what ever still sucks though lucky i have a strong family connection so im not paying stupid amounts in rent every damn week put even so im looking at staying at home for another 3 years i have plenty of money in the bank but when the median house price is 738,000$ and the banks are asking for 20% deposits it is a little bit difficult and like as if you would sign your life away at that amount of debt the housing price will crash and your mortgage will be worth more then the house your buying its just another stupid trap but Australian's keep voting for the same people in politics and they wonder why the government keeps on screwing them over.
What i think about the governments effort for redistribution
I think they do a horrible job they should nationalize all Mining, Quarries, Oil and Gas as well as Timber, Power, water and natural gas for cooking and we should only pay GST on everything not a government surplus tax but a goods and services tax so when you buy stuff you pay tax when you don't buy stuff you don't pay tax and of course this way everyone will pay the tax they can afford and all the other taxes should be abolished last time i looked Australian mining conglomerates made 4.8 trillion dollars in PROFIT last year imagine if the Australian government made that much money per year without having to tax us all to death or have high costs of living by directly controlling the natural resources the government could easily mass produce building materials required and they could nationalize these assets so the small investors can keep their investments in mining and the big foreign board members are the only ones being given the ass but hey i guess all of what i just said would be too hard for those with only two brain cells to rub together to accomplish.
Thank you for sharing your thoughts so passionately. You’ve raised many important points about the challenges of the current housing market, high costs of living, and the broader role of government in managing resources. These are complex issues, and your perspective highlights the frustration many feel with the current system. Conversations like this are essential for fostering change and finding solutions-thank you for contributing to the discussion. 😊
Need to stop that music.
Thanks for the feedback! 😊 I’ll look into adjusting or removing the background music in future videos to make them more enjoyable.
Well this is just depressing lol😢
I hear you-it can be overwhelming to think about sometimes. 😢 Hang in there, and remember that understanding the situation is the first step toward making positive changes! 😊
Good thing my dividends alone are getting me 100k per year
That’s fantastic! 😊 Earning $100k per year from dividends is a great achievement-well done!
You are really cute 😊
Thanks 😅
Imagine earning 10, 20, 30 million a year and knowing half of that is going to tax. OK, you're still getting millions in the hand but screw the ATO.
Thanks for sharing your perspective. It’s true that high-income earners contribute a significant amount in taxes, but those funds play a crucial role in supporting public services and infrastructure that benefit everyone. It’s always a topic that sparks debate! 😊
Your mouth seems to be really big😅
😅 I’ll take it as a unique trait-appreciate you watching! 😊
Use *mean* income, not average income next time
Thanks for the suggestion! 😊 I’ll keep that in mind for future videos-using mean income can provide a clearer perspective in some cases. Appreciate your feedback!
Hit $175k today. I'm really grateful for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in January
How please
I've been investing in Bitcoin by myself. I'm not really happy with what's going on, just few weeks ago I lost about $7,000 in a particular trade. Can you help me out or at least advise me on what to do?
I will advise you stop trading on your own if you keep losing. And i don't trade on my own anymore, I always required help and assistance
She's my family personal Broker and also a Broker to many families here in the United states, she is a licensed Broker.
😱Sounds familiar, I have heard her names on several occasions.. And both her success stories on wall street journey!
You're not an Australian
How do you know? She obviously wasn't born in Australia, but she may have citizenship. Nevertheless, what's your point?
@jimmyb4982 citizenship doesn't make you an Aussie. A donkey in a horse stable doesn't make it a horse.
Blame Australian government allowing Chinese investors purchase multiple properties while living in China and selling them back at expensive price overall increasing the house prices.
Thanks for sharing your thoughts. The housing market and its rising prices are complex issues influenced by many factors, both domestic and international. It’s definitely a topic that sparks a lot of debate.
Amazing video, respect 🫡
Thank you so much! 😊 Your support means a lot! 🫡✨
SHUT THIS MUSIC. I stopped watching and left because of music. Otherwise I was subscriber.
Thank you for the honest feedback! 😊 I’m sorry the music made the video hard to watch. I’ll work on adjusting or removing it in future videos to improve the experience. I really appreciate you sharing your thoughts!
no wonder I feel crap I'm in the lowest percentile bracket for my age, My personal before-tax income is greater than 12% of Australians in my age group (greater than 8% of men and 16% of women).
Thanks for sharing. It’s not easy seeing where you stand, but recognising it can be the first step toward making positive changes. Wishing you all the best on your journey!😊
you are not australian
... and?