How Does Your Wealth Stack Up Against Your Generation?

Whether you’re just starting out, deep in your wealth-building years, or nearing retirement, it’s only natural to wonder: “How do I stack up compared to others?” 

In today’s show, Simon Kuestenmacher and I look into the fascinating – and sometimes uncomfortable – world of generational wealth. 

We discuss the current financial landscape, highlighting the wealth distribution among baby boomers, Gen X, millennials, and Gen Z. 

 The conversation delves into the challenges faced by each generation, the impact of intergenerational wealth transfer, and the importance of strategic financial planning. 

So if you’re interested in whether you’re on the right track financially – whether you’re ahead of the average, or still catching up – stay tuned. This conversation might be the benchmark you’ve been looking for. 

Takeaways   

• Wealth comparison is a common concern among Australians. 

• Most people perceive themselves as middle class, regardless of actual wealth. 

• The distribution of wealth is increasingly polarized, with fewer middle-class households. 

• Baby boomers hold a significant portion of Australia’s wealth due to longer accumulation periods. 

• Gen X faces unique challenges balancing mortgages, children, and aging parents. 

• Millennials struggle with wealth accumulation compared to previous generations. 

• Gen Z is just starting their financial journey with limited wealth. 

• Property remains a key asset for wealth building in Australia. 

• Wealth building requires time and strategic planning. 

• It’s important to focus on personal financial goals rather than comparisons. 

About Simon Kuestenmacher 

 Simon Kuestenmacher  is co-founder and Director – The Demographics Group 

Simon is a prolific media commentator on demographic and data matters and a columnist for The New Daily and The Australian newspapers.    

 He ranks as one of the world’s Top 10 influencers in data visualisation. If you can’t get enough of the kind of data that explains how the world works, make sure to follow Simon on Linked In or X (formerly Twitter) or any of his other social channels. 

Click here for a media enquiry or if you would like to book Simon Kuestenmacher for a speaking engagement. His presentations and quirky observations are enjoyed by audiences from the financial services, property, government, education, technology, retail and professional services industries, among others. 

About Michael Yardney 

 Michael Yardney – founder Metropole Property Strategists has been voted one of Australia’s 50 most influential Thought Leaders. 

While he is best known as a property expert, Michael is also Australia’s leading expert in the psychology of success and wealth creation. 

 Michael is a #1 best selling author of 9 books and frequently challenges traditional finance advice with innovative ideas on property investment, personal finance and wealth creation. 

 Follow Michael on Linked In or Instagram 

Are you interested in property investment – let the team at Metropole build you a Strategic Property Plan to help give you clarity, direction and wealth – producing results.