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So who wants to be average?

Discussion in 'Investing Strategies' started by Nigel Ward, 27th Mar, 2006.

  1. Nigel Ward

    Nigel Ward Team InvestEd

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    According to the front page of the papers Aussies are richer than ever - now worth on average $306,000.

    http://www.smh.com.au/news/national/australia-youre-rolling-in-it/2006/03/26/1143330931464.html

    Over the last decade, the average Aussie's wealth has doubled. According to the article it took 35 years for our wealth to double prior to that...interesting

    Also interesting to note is the recent rate of growth in our wealth.

    So, if that's average, I suspect we're all beating or trying to beat it by a very long stretch :D

    How will we maintain the momentum to avoid being average over the next decade? ;)
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    I suspect that most of that "wealth" is contained in unrealised capital growth from PPORs, although the number of people who bought IPs in the last boom would have helped the figure a bit too.

    The fact that the sharemarket is up strongly for the third year running would also be helping.

    What does this mean ? Nobody had to try that hard to build wealth over the last 3 - 5 years ... you just had to be in it. Of course, anyone without investments has had their wealth diminish in real terms over that time.
     
  3. MichaelWhyte

    MichaelWhyte Well-Known Member

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    Nigel,

    Yep, aiming to beat it by a long stretch! :D

    Only, I'm effectively three people right? Myself, my wife and my new 8 month old dependent. So, if you take my $1M in net worth and divide by three then I'm looking very average indeed... :(

    Ah well, I'm only 35 so have a lot of time yet to get ahead of that curve. And my boy's only 8 months and is already average! :p

    Cheers,
    Michael.
     
  4. Jacque

    Jacque Team InvestEd

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    Wait until you have three children like me, Michael, then the "millionaire" tag isn't looking as bright! :p

    I would like to think that none of us here are average at all. It's all upwards from here on :)
     
  5. Glebe

    Glebe Well-Known Member

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    Wife and are only worth $400-odd. This article has taken the wind out of my sails! Maybe that's a good thing...
     
  6. Medine

    Medine Active Member

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    Hi Guys,

    What can I say?

    Another good reason to stay single :D

    Cheers, Medine
     
  7. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    Amen to that, sister!

    Mark
     
  8. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    You're only worth $400? Really?

    Mark
     
  9. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    I have a Net Worth calculator that I pinched from the Microsoft Office website. What I do is key in all the relevant detail at the end of each month, which gives me a dollar figure (obviously). It's nice to be able to watch it rise (albeit by only a couple hundred at this stage though).

    Not telling how much I'm actually worth though! The only person who's business that is, is mine!

    Mark
     
  10. MichaelWhyte

    MichaelWhyte Well-Known Member

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    Don't be too embarrassed Mark, Glebe is only worth 400 bucks! :rolleyes: ;) :D

    MW
     
  11. Simon

    Simon Well-Known Member

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    I just tried that one.

    You still need t ocalculate every investement manually etc.

    I made my own excel spreadsheet that has space for every share or MF with qty held. I just update prices each month and it recalculates it all for me.

    Each investment shows the % of my portfolio it represents and I have linked borrowings to each one to show each LVR and also overall LVR. I even have colour coding to show who owns what.

    What I would like to do is have it set up so each month each investment and my net worth is charted. At the moment I just rewrite over last months figures.

    Anyone able to improve on this for me?

    I am happy to share my spreadsheet with anyone - is an amateur attempt at best.

    Just email if interested.
     
  12. Leandro

    Leandro Well-Known Member

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    I hate to say it, but im guessing thats not by choice! :eek:
     
  13. MJK

    MJK Well-Known Member

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    Now now Leonardo! :eek:

    Actually the real financial evil is Divorce isn't it?

    MJK :D
     
  14. Leandro

    Leandro Well-Known Member

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    Sorry guys, it was just too tempting!! :D

    I would have to agree