$?Bill in a ? Life mine, page-17988

BK,

"Doesn’t take much to be a millionaire these days. Really means nothing until you have many multiples of that"

It seems you might be right BK....... According to the latest figures:

635,000/26,136,558 = 2.43% of the Population are Millionaires

I wonder how many Multi-Millionaires we have......... LOL


Australia has become a millionaire factory.

The total number of millionaires in Australia rose 31% from 485,000 to 635,000 during the past year - the biggest rise in recent history.

And these millionaires control $2.77 trillion in investable assets (up 37%).

These figures come from ASX listed Praemium's study of Australia's High Net Worth (HNW) investors.

Just to make things clear... an HNW investor has $1 million in discretionary investable assets, including their self-managed super fund, excluding their super, home, and business net of debt.

Australia’s HNW investors are more numerous, wealthier, have fewer significant worries, and are increasingly confident about the direction of the stock market, according to the research.

The number of millionaires in Australia was fairly constant between 2017 and 2020, before this year’s dramatic rise.

There were 424,000 millionaires in Australia in 2017, 434,000 in 2018, 458,000 in 2019 and 488,000 in 2020.

I'm not surprised by this remarkable increase in the wealth of these high net worth individuals considering the dramatic increase in value of properties and shares owned by them.