I thought you might find this information interesting, as most people like to get an idea of how their wealth compares to other people.
The Australian Bureau of Statistics released its Survey of Income and Housing 2017/18 recently, and it gives people a snapshot of the assets and debts of Australians.
I have depicted the average wealth position of the wealthiest population quintile.
It is interesting to note that doctors and dentists indeed have a lot of wealth stored in their primary residence and other (investment properties).
Super balances also typically tend to be higher than the average Australian, although some medical and dental professionals in Private Practice may not be actively contributing to superannuation.
Yet, it is interesting to note that most doctors and dentists do not consider themselves to be wealthy, and indeed experience quite high levels of financial stress.
This is usually brought upon by high levels of taxation, significant mortgages, private school fees and an expensive lifestyle.
What our clients really strive for is to reduce their stress levels and develop a personalised plan to achieve a better and more secure financial future. Indeed, our clients aim for financial independence in their early to mid-50’s so they can make more deliberate lifestyle choices at that time.
If that is something you would also like to actively work towards, then contact me today for your private consultation.
I am available at Yves@affluenceprivate.com.au or 0432 885 295.
I would be happy to help.