How Much Money You Need To Save In Australia (AT EVERY AGE)

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Information How Much Money You Need To Save In Australia (AT EVERY AGE)

Title	:	How Much Money You Need To Save In Australia (AT EVERY AGE)
Lasting	:	18.14
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Views	:	56 rb

Investing in various sources of income that are independent of the government should be the most essential thing on everyone's mind right now especially in light of the global economic crisis at the moment I have $560,000 sitting in savings searching for the best method to enter these markets This is still an excellent moment to invest in equities, gold, silver, and digital currencies
Comment from : Ghan Yt

Most of this is just cookie cutter advice that doesn't help much and tries to flog ETF's
Comment from : Bolinger Neurenburgh

The upside is that if you are elderly and poor in Australia, the government will pay for your aged care / assisted living If you've served in the military, you probably qualify for medicare gold in old age
Comment from : zakatista

Thanks for the video! Would you be able to do an update for 2023?
Comment from : Natalie Liew

Wow a lot of assumptions in there… No mention of children that cost $300K+ each, I wonder what rent will cost in 25yrs if he hasn’t bought a house, no consideration of partners, divorce, recessions (which no younger person has experienced) no mention of chosen or enforced career changes I would say at least 3 of these things will impact a person of this age and another 3 not even considered or predictable …
Comment from : Paul S

Thanks Michael nice video
Comment from : Matthew The hawk

Is it possible to add your sources into the video description? Curious to know how you got all of these numbers 👀
Comment from : Ryan Samarakoon

A 🏠 or 🚗 with an outstanding debt/loan should be considered a liability not an asset❗❓
Comment from : 4Layers OfStrength

Strictly speaking it is not true that 25 times income in savings will last forever Research shows that with 50-50 bonds and shares there is 96 chance it will last 30 years, which is okay for retirement at 60 years but not enough for someone to retire, at say, 30 years of age Global shares in inflation adjusted returns earn 58 on average historically Bonds, after tax and inflation are slightly negative over past 50 years So, you could only spend half 58 (29) or possibly even less for it to last forever and that is assuming zero cost of running the investment funds If you are not earning any more money, the conventional wisdom is to only have around 50 in shares, in case sharemarket crashes and loses 50+
Comment from : David G

Regarding the advice for a 50yo, it seemed a bit light on Also, unless they’ve built up a sizeable discretionary investment/savings balance and are considering early self funded retirement pretty soon, moving to a more defensive investment strategy seems a bit too conservative With preservation age being 60yo, they most likely are some 10yrs away from retirement 5 - 7yrs is the average quoted time horizon for a growth focussed investment strategy
Comment from : Rob Salvv

A million dollars at retirement! Yikes i’ve only got 500000 and 13 years to go
Comment from : Leanne McLean

Great video! I am happy that I found your channel It helps to listen to a fellow Australian talk about money, as every country is different 🙏
Comment from : Chantelle Shannon

WRONG 😑
Comment from : B_To_The_B

Finally, an aussie version of savings by age for retirement Great video and learning Thanks mate
Comment from : anthony stanley

Brilliant tips!
Comment from : Alyssa Jenaway

Average networth of an Aussie is only $31k???
Comment from : Dannnsss

Just found the Graham Stephan of Australia! Excellent channel mate
Comment from : Fraude

For people living in Australia Thank you
Comment from : johnathan Joestar

Socialism policy screw middle class & upper class in Australia
Comment from : Ben Chesterman

$300000 net worth living in Sydney im 33 yrs old, my savings $200000 If I lived in USA where there no federal sales tax & excise taxes why buying products & cars very cheap ??? I would be a millionaire now saving $100000 a yr
Comment from : Ben Chesterman

You need to he a multi millionaire to retire self retired in Australia Better off living in USA middle class & upper class
Comment from : Ben Chesterman

Hi, loved the video! Could you expand more on the private health fund and the Medicare levy?
Comment from : Raymond Truong

1 it's average HOUSEHOLD networth
Comment from : John Wurf

You know he is reliable because of the Patagonia jumper
Comment from : JennerBrandon

So 89K net worth is good for a 23 year old
Comment from : Bobtailsquid

Thanks for the video, + really great content I'm lucky my dads a financial planner so I've never had trouble saving and investing, but so many of my good friends spend money excessively
Comment from : Jacinta

I’m 27 my monthly pay is $4004 after tax I put $2000/month in my savings and $800/month invested I’m left with $1204/month for my food and billsbrbrI have no kids so these numbers could change in the future --
Comment from : Talo BMF

Jesus, my net worth is $200000 at 36 and I still feel poor
Comment from : Bruce Wayne

Who is in a position to save 50 of their income?!brIf you are in that position, you could just as easily half your worked hours and 'retire' from full time work Needless to say this is well beyond what is achievable for most people
Comment from : J Byrne

Thanks mate Good content Do you think we should exclude our own home in the networth calculation if we use that figure as a target for financial independence?
Comment from : CareerCQ

Great video mate amazing content Is that a date just on your wrist?
Comment from : Ren_Rajan

Keep it very simple just put an extra 10 above what your boss does into your supperannuation from the day you start work 30 years later you will have over a million dollars it's so easy and so simple no won does it
Comment from : Suphatra Chaiyasit

As an Aussie it's awesome to be educated by another Aussie, mate you're setting me up for life Cheers!
Comment from : Peter Ernsteins

New subscribe hehe
Comment from : Cheng Ganal

Saving and growing your savings are a must!
Comment from : Alternative Solution AU

$194K at 50??? How in the world are you going to retire early?? That should the net worth at 30!
Comment from : Japanese Funny Shorts

Do you have any sort of financial advice qualifications? I’d be concerned if some 50 year olds start moving from equities into bonds…
Comment from : Andymacmac

Well, I am broke :) brMy networth is - 250k at 32, from Sydney, well that's depressing Great
Comment from : Mountain Man

I make huge profits on my investment since i started trading with Mrs Lucy Morgan, brher trading strategies are top notch coupled with the little commission she charges on her trade
Comment from : Henry Frost

Love the Aussie content! Very well articulated, keep it up!
Comment from : Tien Nguyen

Saving half your income?! brah I'm all for saving but for a lot of folks that's just not possible
Comment from : Samuel Danby

I agree with many points but also there are a lot of other things that can be done at your early years to snowball ahead later on And no, it is not investing in Bitcoin
Comment from : Hugo Santos

effing HECS --
Comment from : ausBOyDe

your head is massive
Comment from : Dopatonin

I love your video and you are so young However, your videos are full of knowledge
Comment from : Cynthia Kk

Thanks for making this bro👍🏾
Comment from : richiesworld1

Which compound interest calculator website are you using ?
Comment from : James Habib

great work i subscribed thanks Michael
Comment from : The Australian Health Show

Funk!
Comment from : setarita

Great content Thanks!
Comment from : The Vegan Travel Show

What a great video, sage advice from someone so young Looking forward to watching more on superannuation, early retirement and investing Keep up the great work
Comment from : S JJ

how is 30k net worth at age 30 even possible you'd have at least 5-10years of work for a bit of super balance and high should be paying off a housemind blown
Comment from : Compound Wealth Tree

Guys DO NOT under any circumstances put your money in CBUS super, mate of mine was harassed when he wanted to withdraw his money Kept stuffing him around told him he was paid later told him , na mate not so easy and made him wait Poor guy didn’t see their horror reviews online before joining CBUS Scary
Comment from : Neil Neil

Hey hope u dont mind the comparison but you're like the Aussie Graham Stephen U guys are on the same page so well done!!
Comment from : Ray B

Good channel keep it up
Comment from : SamooSmith

8? wow, that's a lot since in the past 20-30 yrs it has ben around 4
Comment from : iWatch Yutub

No way the bottom 20 have 35k each lmao Surely it's negative
Comment from : Read Aloud Realm

The Div 293 tax is an EXTRA 15 contributions tax for high income earnersAN IMPORTANT POINT!!!!!!!!!!!
Comment from : baysidelad1

People need to understand that superannuation wasn’t set up by the Keating government to be be your only income in retirementIt was set up to supplement the aged pension
Comment from : david johnston

How can anyone save 50 of net wages AND buy a house? Also unsure as to why super savings are not counted?
Comment from : Linda M

Investing successfully in forex requires the expertise of a professional broker that is why i have made profit since i started trading with Mrs Benjamin Addison she is the best
Comment from : GARY Victor

Anyone who does voluntary contributions into your super into a good fund, there’s no excuse to not have a minimum of 100k net worth at least
Comment from : Peter Suvara

I was -500k at 30 after my business failed 😬
Comment from : Peter Suvara

Lots of investment advice from US, great to see Aussie stuff
Comment from : Peter Suvara

Thanks for the breakdown It was a well presented video The figures for 40s, 50s and 60s seem too low (surprisingly) Do they include super balances and property (such as PPOR)? If not, that implies that most people approaching "retirement age" do not own their own home and have very low superannuation balances
Comment from : chillikoala

A video for older people (40+) who are starting from 0 with 0 net worth would be great That's the story for a lot of women & anyone who hasn't had the greatest run in lifebrAlso, where do we invest to get 8 interest?
Comment from : aussiejubes

It’s like the game of life the more money you have the better you are at the game
Comment from : Puti N

Thank you good sir
Comment from : Puti N

Best practical recommendations Thank you
Comment from : Anoop Raman

Can you please clarify - so the average 30 year old would have a positive net worth, including a house they own that's fully paid? Thanks
Comment from : A L

I wish could have this channel with Korean interpretationbrI blamed myself on my English level !!
Comment from : Moon Jin Carol KIM

3 million to be in the top 20that's a lot to be top 20in the US thats probably top 5 or maybe even higher
Comment from : Eric Boxer

Australian government dont want people to retirekeep pushing the retirement pension age up want people in debtwith massive debts and high cost of living want people to work til they die
Comment from : mick he

Does superannuation count in the median net value?
Comment from : Abid Rahman

Oh good, just turned 40 this month $700k home with $34k mortgage left On track 👌brGreat content and so well presented btw
Comment from : Mushy

I agree, it's best not to compare yourself to othersexcept when you see the average Aussie's shockingly low net worth Wow, I may actually be ahead of the curve I'm suddenly feeling slightly better about my own meagre savings
Comment from : passdasalt

If the average 60yo NW is only $291k, that means average people don't own their homes at preservation age, since the average house value is well above that That's surprising
Comment from : Tim H

Are you wearing eye makeup? Lmfaooooo
Comment from : Suicine

GSSB If you have no idea what that is, you are not worth listening to Tawn
Comment from : Michael Boldys

Your "hey whats up" quip is reason enough not to take you seriously
Comment from : signature1990

i am -$35,000 from student loan officially lower than 0
Comment from : Chenny

I tuned out when you said the average 30 year old person can be investing 50 of their income Let's say they're on $1k a week after tax $500/week So, $500 divided between shelter, food, transport, bills, communication, medications, insurance
Comment from : Rebekah Robertson

What is your profession?
Comment from : rocky min

great advice! clear and concice, forget about those other dudes get more content like this and the subscribers will follow loving your work, keep it up cheers!!
Comment from : Paul ONeill

Good video! Is the average net worth you’re talking about includes super?
Comment from : Mr AndroidKJV

Hi Michael good video mate! I live in Australia as well so it's good to see this video based on the Australian populationbrI've liked and subscribed to your channelbrbrIt will be interesting to hear your thoughts on the topic of investing in real estate vs stocks I talked about this on my blog myfinancehomeblog/ and my thoughts is that investing in Australian real estate, perhaps particular to buying brand new apartments, is a riskier investment to stocks due to potential building defects We hear about this a lot from finance youtubers in US, but again, the real estate climate there is different to Australia brbrOtherwise keep up the good content!
Comment from : Kenny Librata

Pre-smashed the like button as it's a good topic to cover Good editing as well, and love the video and light quality, you got a sub mate! What software did you use to move around the different parts of the pdf?
Comment from : Sagely