Interesting graphic:
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I don't quite understand some of the figures though. My income is very, very good, but my net worth is very, very poor, compared to the averages. Have I blown that much money with nothing to show for it? I'm not frugal but I don't blow that much. I don't even own a car for Christ's sake. Where has it gone/where did other people's come from?
Select to expand quoteevlPanda said...
.... but I don't blow that much.
Obviously (statistically) not.
Do you subscribe to the "I spent 90% of my money on hookers and booze, the rest I wasted" motto perhaps?
Top 20% is interesting enough, but how would it look if we took the top 1% and compared it to those infographics out of the US that have been popping up recently?
I'm like u Panda... except I blow mine on trinkets, drugs, holidays, vehicles...
I don't own any property cos I read on a conspiracy website that Australia was heading for a severe housing crash... farking Steve Keen!
Trying to assess myself on this scale and have a couple of questions. What is the definition of 'Disposable Household Income'? Is this simply take home after tax, or is it after paying for housing, food, and other essentials? And does 'Net Worth' include equity in your home and superannuation balance?
Interesting to see WA better off than NSW. Is this because of mining?
Select to expand quoteevlPanda said..My income is very, very good, but my net worth is very, very poor, compared to the averages. Have I blown that much money with nothing to show for it? I'm not frugal but I don't blow that much. I don't even own a car for Christ's sake. Where has it gone/where did other people's come from?
My income/wealth ratio is similar to the income/wealth ratio of the national averages. You don't have a car, but do own property or superannuation? My wealth is roughly 40% property equity (ie. my home), 40% superannuation, 20% savings.
Or maybe you're just young and haven't had time to accumulate?
Panda, don't look at averages, they are skewed by the highest quintile. Look at the median, not the mean. The distribution is not Gaussian (normal), but more of a sigma.
Raw numbers and most of the terms ("disposable", etc.) are found in www.ausstats.abs.gov.au/ausstats/subscriber.nsf/0/FB162A8CBB41033DCA257BCD001A5725/$File/65540_2011_12.pdf
It's actually not unclear. 
I was going to discount, on the basis that the top 1% are billionnaires and would have skewed the averages (not medians).
But the methodology is a survey of some 15k households, and since the odds of a zillionnaire answering this type of questionnaire are slim, then it becomes worthy reading. I was put off by NT having such top weekly earnings - suspicious, no? The presentation seems to work backwards from a Pareto "let's use the 80-20 imagery to exemplify what we wanna say".
55yo+ hold half the national wealth. This is not bad: means all this will be redistributed soon to younger types, either through consumerism or just plain dying. Unfortunately, part of that late-life consumerism just leaves the country - travelling, bying exports, etc. The 35-44 seem to be on par to catch up with the lifestyle of the 45+ group - if the economy continues, if taxes don't rise, and if they can keep their job - a series of tall if's... However presumably they will inherit soon from the groups above, which are rather sizeable in numbers at 26%.
Hard to see the 25-34 catching up, esp. that they're spending like crazy and not saving (or can't because of the housing market). But maybe I'm missing something.
A comparison of similar data with the Yanks would be interesting...
Select to expand quoteFlySurfer said..
I'm like u Panda... except I blow mine on trinkets, drugs, holidays, vehicles...
I don't own any property cos I read on a conspiracy website that Australia was heading for a severe housing crash... farking Steve Keen!
Ever wondered if there is a correlation between your beleif in crazy conspiracy theories and use of halluceogens/ mind altering substances?
Select to expand quoteHarrow said..evlPanda said..My income is very, very good, but my net worth is very, very poor, compared to the averages. Have I blown that much money with nothing to show for it? I'm not frugal but I don't blow that much. I don't even own a car for Christ's sake. Where has it gone/where did other people's come from?
My income/wealth ratio is similar to the income/wealth ratio of the national averages. You don't have a car, but do own property or superannuation?
I've subtracted the mortgages. Select to expand quotepierrec45 said...
I was put off by NT having such top weekly earnings - suspicious, no?
Actually no. NT has always had very high average incomes. Darwin especially so.
...ah, I see. I live in fn Sydney as a single income family.
I used to think this was a comedy.
Select to expand quotemyusernam said..
Ever wondered if there is a correlation between your beleif in crazy conspiracy theories and use of halluceogens/ mind altering substances?
What conspiracy theories? If you're referring to my high school physics coupled with the "official" suspension of the laws of physics in NY on September 11th 2001, then no... no conspiracy there, it's physics and physics doesn't lie to fit a political agenda.
Anyway hallucinogens are hard to come by in Australia... drugs = alcohol and cigars; cigars are generally cognitive enhancers.
