Hi ozbargainers
I want to know how i am doing financially compared to my peers. I find it rude to ask my colleagues/friends how much money/assets do they own. And I don't believe I will get a straight answer even if I ask. So as an anonymous ozbargainer will you care to share?
Net worth is defined as all your assets minus liabilities.
So how old are you and what is your net worth?
Let me start
I am 38 with 1 wife 3 kids $1.5mil
What Is Your Age and Net Worth?
L[Deactivated] on 14/11/2014 - 21:24
Comments
$38K! Typo
LMAO
IP on 38k , why do you need DSP if you earn a salary .
$38k CASH money, not on the books ?
No, I send my tax return to Human Services and what investments I have. My payments are less of course.
Could you explain more on the renting of art? So those people rent your art to display in their studios ?
What field of self employment are you in if you don't mind me asking? Pm if u want to keep it private.. cheersI purchased the paintings from Art Futures in Hong Kong and they rent them out to corporations to hang in their offices. Art Index does the same thing in Sydney. They only deal with established, well-known artists.
However, a rental contract is for two years and now I find out they don't guarantee another term. My sister has 2 paintings in storage at Art Futures since January with no contract in sight. There was a guarantee of a contract upon purchase and I assumed that meant on-going rental. My paintings haven't run out of contract yet. Never assume!
These paintings were to be my retirement money and we are not sure they will increase in value as Art Futures promoted.
Beware…..
I am a valet driver for a carpark starting at 6am and finishing sometimes 7- 8pm. It is part-time as I am booked for jobs throughout the day, not all day although sometimes I am on the road for 6 hours straight + much stress stuck in traffic.
I am 63 and working my arse off to have something when I can't work anymore.
Can tell you more about the paintings on PM if you like.
I also have to be available 7 days a week to earn the less than average salary.Hi there
I can't pm you because you didn't activate your incoming pms. But you said earlier in the post that you are working from home making 38k . But then you mention you are working as a valet driver? Which one is it exactly? Because I thought if on the dsp and you have a job they cut your benefits according to how much money you earn?I have activated PMs. New on here! Can't reply to you Jaykay for some reason. I have a home office and am self-employed with an ABN to the family business. A business can't be run from home if you have employees. They can't be on the premises. Got it? You can be self-employed when on DSP and give them a Profit and Loss statement every 3 months and then after they deem it so, once a year. I have high expenses doing the job - phones, internet,office equipment,stationary,rent,utilities, technology, software, computer, public transport/taxis to pick up/drop off customer's cars( $150 per week approx just for transport) and other items.
You're earning enough without taking money from someone else who really needs it.
There are people out there who absolutely can't work and they will need money into the future. When the Government starts cutting services, it is them that will cop it first and they will cop it because people like you are abusing the system.
The disability payment lifeline is for people with no other options. I have zero respect for people like you … and you come and brag about it? I hope a piano falls on your head.
wow get over it you (profanity)
edit: if it is done legitimately, then it is the system that allows it - not him exploiting it.
How old are you, 7? It's called integrity and not working the system just because you can.
I am handicapped and I work full time. I 'could' be on disability, and I 'could' work part time and get disability, but I choose not to BECAUSE I can still work and I'm lucky to have a job I can do. I have even worked for myself and part time and at NO point did I take any disability. I just lived within my means and it was fine.
But one day I will not be able to work, or do anything at all, BECAUSE of my handicap and this disability pension will be my only source of income - you know, to buy food? I do NOT want to get to that point and have the government say there is no more money for that, sorry.
Try living that life and see what you think about these people. The system allowing it or not, this person is intentionally exploiting it for their own selfish gain and it is not necessary.
What a crock of s%#t. You have absolutely no idea what you are talking about. People like you are the problem in this country, not people like devindalovely. 38k is a very small income and it is means tested. Look it up as you clearly have no clue.
@chloden: Yes, you're right, I guess it's only your tax that is paying devindalovely's handout.
38k you say? Wow.
Imagine what it is like for the fully disabled who only get a total of $20,194.20 for the whole year? … and they can't do any damn thing by themselves and have to either rely on friends or pay for someone to do every last little thing for them.
Oh, that was a single person too - one of a couple, you are only getting $15,223 for the whole year.
If people like devindalovely didn't see themselves entitled to an extra 13k of everyone's tax dollars, there would be more to go round to those who really need it and for longer.
I have no idea when my life will stop and still I hope that I last longer, save more, will in some way be able to support myself, even if it's from money I have managed to save … but when/if that money runs out, I hope that I will still be in a country generous enough to feed me. But this will not be the case if these people continue to rort.
devindalovely has 18k in savings. How do you think that money got there? Do you honestly think a genuine DSP recipient has 18k in the bank?
People rorting the system do not impress me and the majority of people in this country.
@chloden: DSP is specifically for people who have no other means. Let me repeat that - no. other. means.
The idea of 'you can earn a little bit on the side' including your DSP, was for people earning a little bit on the side. But this was intended for honest people, not those looking for a loophole to take from others.
I am sure it was not intended to supplement $60k of artworks, 38k of income and the ability to save 18k in the bank.
Admitting this alone is evidence of rorting that loophole and while it not legally dishonest, it is ethically and morally dishonest rorting.
@snook: easy to find the income and assets limits for the disability support pension on the human services website. The income and assets test are the same as the age pension. The whole intention of the payment is actually to "support" there's a hint in the name. If the intention was not to have a generous income and assets test it wouldn't be so generous.
I would rather support someone who is trying to supplement their pension by working to their ability and if that means using their business and savings skills so be it. The more income they earn the less pension they get. The fact is the persons disability will mean they cannot work full time and if they could I bet most people on dsp would love to work and earn a full time wage.
@snook: Again it is clear you have no idea what you are talking about. Before making accusations of people "rorting" do some fact checks, you are talking nonsense.
@chloden:
Can anyone imagine living in Sydney on under $300 a week having to pay rent and buy food?This is the reality of the situation: I know a couple of people in this very place right now. Both are single men. Neither of them can do any work. Both of these people were intelligent, contributing members of society before these things happened to them. I worked with both of them so know them well. They blew all their savings in the lead ups to their situations thinking that it was temporary …
One is NOT in govt housing and single men are not a priority with the single status. So on top of living with mental retardation caused by an infection after brain tumour surgery went bad, he has to cope with the stress of living hand to mouth every single day. If something does not change for him soon, he will be out on the street … and he ALREADY lives in something like a shed!
One was attacked on his way home from work and ended up with an injury. The injury went bad in too many ways to describe, turned into a chronic pain situation and he became addicted to morphine as well. He is in government housing and he only got there by trying to kill himself. Clever idea? I didn't think so but he could no longer afford rent and was already living in his car. If he hadn't tried to kill himself he'd still be living on the street.
If legislation/policy changed and topping up was not allowed more money could be given to those that really need it.
And then there are those people who just don't want to work. I know quite a few from my YEARS of rounds with rehab and management courses. Someone who comes on here bragging about it doesn't want to work.
And let me repeat because you can't seem to be able to read - I can get disability. At any time, I can go and get it. I own my home outright, have money in the bank and some investments. I could quit work tomorrow and claim DSP top ups and be just like devindalovely bragging about how great my life is. I certainly could live mighty well on $980 a week. I do not do it because I CAN work and there are people out there way worse off than I am. In my mind, and the mind of many Australians in this country (because I don't know what country you are talking about), it is nothing short of theft from those with NOTHING. DSP should remain solely for them and it should be increased. Rorters should be pushed OUT.
No one can exist in Sydney on less than $300 a week but your devindalovely is on $980 a week and paying ZERO tax. So don't tell me I don't know what I'm talking about. I actually wish I didn't know.
@snook: So….none of that makes davindalovely a rorter and he/she has done nothing wrong. I will say it again, get your facts right before making accusations. Since you are struggling so much here is a link http://www.humanservices.gov.au/customer/dhs/centrelink
Sometimes it's hard to converse with a 2 year old. I understand so let ME help YOU out here, since you so love to repeat the word 'rort'. Are you ready? Thinking cap on?
rort
verbAUSTRALIAN/NZ
gerund or present participle: rortingwork (a system) to obtain the greatest benefit while remaining within the letter of the law.
Oh look, rorter.
@snook: claiming a benefit that you are legally and fully entitled to is not a rort. I hope that you find yourself on the DSP one day and then you might get it. Actually what I really hope is that a piano drops on your head and you are not eligible for any type of assistance, then you might get off your high horse.
This is my post to snook:
It already has. That's why I'm on DSP. I can't get any other job as it's the family business employing me. I manage my disability well but it has to be managed.
I was close to the poverty line with no future prospects before starting this job.
I could go on the list for public housing as I am renting still and now at 63 am too old to get a mortgage but haven't.
Mainly, because I wouldn't be happy living in Sunnyvale (!) and would rather pay high rent by working hard to live well.
Read my reply post above to the person interested in finding out about rented paintings.
I realized posting about myself would get a lot of comments and that's ok.
It has opened up a can of worms!
I am not insulted or fazed by the comments.
There are plenty of people on DSP who HAVE to supplement it by working. Otherwise, they would be draining the States' coffers even more.
Oops,sorry for the repeat. I tried to delete it. how do you do that? Thanks
It already has. That's why I'm on DSP. I can't get any other job as it's the family business employing me. I manage my disability well but it has to be managed.
I was close to the poverty line with no future prospects before starting this job.
I could go on the list for public housing as I am renting still and now at 63 am too old to get a mortgage but haven't.
Mainly, because I wouldn't be happy living in Sunnyvale (!) and would rather pay high rent by working hard to live well.
Read my reply post above to the person interested in finding out about rented paintings.
I realized posting about myself would get a lot of comments and that's ok.
It has opened up a can of worms!
I am not insulted or fazed by the comments.
There are plenty of people on DSP who HAVE to supplement it by working. Otherwise, they would be draining the States' coffers even more.
DSP sweet spot nice.
I'm 18 and have $17,300 AUD in a Goalsaver. $0 OZB (eneloops) Seriously don't even know how I'm going to move out aha. Any life tips guys?
Edit: I'm going to be down the hole pretty soon with Uni expenses and buying my first car etc.
life tip: set what you want to save for the year. See how much of that u need each week or month from your pay. Pay yourself that amount first into a savings account and force yourself to live with what you have left. Be reasonable but tough. Use this saving for future investments eg shares or house.
I force save/invest close to 80% while living at home. Probably around 50% these days.Thanks for the tip, I've actually been trying to do something similar for a while but then there's a deal on ozbargain and I can't resist haha.
Jordan, been working for a year and my savings based on this year's work is still not as healthy as yours. Keep up the good work. 24, currently working in Singapore as an Engineer.
Big savings occur when you dont splurge on holidays and brand spanking new cars. Drove a bomb (literally had to open the bonnet every third drive) and didnt travel overseas for 3 years after uni. Started my first business at 24. First property at 26. Setup a plan but break down goals down to size. Sure my friends may have travel to 5 continents but I'd rather have 5 properties.
How'd you start your bizz? What is it if you don't mind sharing?
I thought I'd mention that travel doesn't need to be super expensive. If you want 5 star hotels, getting drunk every night and taking a guided tour everywhere? Yep, pricey.
But I just came back from 4 months in South-East Asia travelling on the cheap, but never said no to any experience because of the cost. All up it cost me $5500 including everything. Some people spend that on a week in Vegas! :P
That sounds like a good cheap alternative for those who need the break far away, but not going would still be a saving of $5500. It's still a splurge that could be identified for saving.
For me personally, going overseas isn't a necessity for me and since I am saving I would much rather keep hold of a small house deposit. $5K is a lot of money. Depending on your circumstances it's close to the same as living expenses in au (probably cheaper if you're renting though) but if you're super serious about saving up, the time may be well worth more in money to be earning and saving for those 4 months instead.
You need money for a business starter and for a first property, and when you are trying to achieve this faster, every dollar counts.
I do take holidays and my budget is always $500 (max - I rarely come close to this, and when I do, it's shared.. Short holidays, I don't go far, rarely eat out and dirt cheap accomodation is the only driver for any holday I do take.. and I try not to go often) but I still wish I had a little more self control to reduce this too. I find I can get quite a decent break without needing to go overseas but that may be more of a preference kinda thing.
Seriously, 18, and 17k saved? Isn't this… like, really, REALLY GOOD?
Back when I was 18, I thought I was doing well. I had 1k.
Its a good/great amount, not difficult to save that sort of money, if you are working from 15 and save hard for 3 years. Even more if your on youth allowance/abstudy.
When you live at home with your parents, work part time and don't throw cash away, it's not hard to save up - Australia's minimum wage is super high if you don't have much expenses.
I'm 22 and just finished uni. I worked casual for a while (about a year and a half) and did 2 paid internships (one 10 weeks, one 6 months) while studying. I now have around $28k savings in the bank since I've been living at home, and this is including spending 6 months living in the USA last year (4.5 months foreign exchange, 1.5 months travelling after), and I just came back from a 4 month backpacking trip around Southeast Asia solo (which cost me around $5.5k all up).
My immigrant parents taught me how to be frugal without having to give up much.
And I don't go out and get drunk every weekend, which helps.
EDIT: of course once you take off my HECS debt which I'll be starting to pay off next year, I'm worth nothing.
Yeah you're right, when living at home it is so easy to save
I am 21, 80k in the bank, and probably 15k in assets (cars, motorbikes)
Each week I only really spend money on things like fuel, bit of food, phone bill, maybe one night out
Save the rest and its crazy how quickly you build up money.
I still spend on holidays and big things, just don't waste money on small insignificant things@camoqs: damn you guys are baller, when I was 21 I was just mainly studying but also taking care of my grandfather so I didn't really have anytime to work or do much besides eat and maybe the occasional game. Now that I'm out of uni and have a lot more free time (man you don't realise the amount of time you have free and left around when you finish/stop studying) I can work a bit and still also game and/or look after my grandparents(grandfather mainly) and i know that with my dad getting older I, well me and my two sister's will have to be the main bread winners of the family and take over the role of looking after the family and sorting out the daily errands/bills/taxes/mortgage/house/etc. lol. man adulthood and independence hits you like a brick when you grow up lmao, lol.
When I was 18 I had $2000 - how the hell ???
@JordanNguyen
Old Joke: The best financial advice to give to a young person.
Become a Financial Adviser. :-)DON'T WASTE YOUR MONEY. This if you can bear living with your folks; try to do that.
If public transport is reliable, use that to get to Uni.
Learn to save, save, save.
Learn how to make a wholesome meal out 2 minute noodles, an egg and some veggies.
Learn how to focus on your studies without distractions.
Work hard, hard, hard.
All the normal stuff you probably already know.Just don't forget to smell some roses along the way. It is not just about the money.
Don't read junk mail and stop reading about incredible deals from Oz Bargain!
24 / approx $100.
OP is incredibly insecure.
26 years old, approximately $150,000.
Teach me how… Can you be my mentor?
drug dealer?
drug dealers earn heaps more than that. 10k a week. I have a prison connection and that's why it's so hard for them to say no.
my guess is law school or business school, or maybe some medical/health degree. that or porn (lol jk trolling) lmao. lol
38, married with 2 children. Double net worth than original poster. Reckon I was happier when I was 21 and worth nothing.
plz tell me moar, why do you say that?
Not having to think about how to manage your funds, the multiple investment properties, having to make sure the renters are good, having to keep up with payments to ensure you don't get hit with extra fees, having to think about kids future and plan for them….etc.
I can just go on.
1.5M is decent and comfortable, but if you're going to compare with peers, trust me. You'll feel crappy when you meet people who are worth quite a few times what you are and younger as well. I can name quite a few people who are in that category.
Don't compare… be contented.
Researchers once compared middle and low income people in USA and a poor central American country (eg. Guatemala) and looked at happiness levels.
They found it was the distance from the countries average income that influenced happiness. Low income people in Guatemala were comparatively much poorer than their US counterparts, however they were closer to the average and were found to be happier than US poor people who were further from average wages.
I'll try to find the article and provide link.
What is moar? Anyway - a simpler life is easier to manage. Moar money does not mean moar happiness.
If all people cared about was happiness, they wouldn't live in an advanced economy. Besides, happiness is boring - there's no thrill in happiness, just complacency. Everything in moderation, including emotions; that's life living to its fullest.
I balance work with family and spend little on only myself. I find happiness in knowing that if I die someday I will have left my family something not just to remember me by and be proud of, but that will also make their futures at least a little less hard on them when I am gone. That is my happiness.
can't help but to agree. I was happier when I was 21, worth nothing but chasing the dream of being wealthy
I'm a 33 year old Virgin and living with my parents and own the eneloop batteries brand
Well, at least you're telling 2/3 the truth..
Mid 20's
3 IP's (Duplex and 1 house) + 1 flat (currently living in) current value of the 4 combined 1.41 million combined
approx 80k worth of share portfolio
Around 200k in various assets (2 cars, motorbike, furniture, petty cash etc)
No dependants, no spouse.Livin the dream (not really, being a slave to the banks is not particularly pleasant)
Mind you have been working since i was 14, went to fulltime at 18.
You need to write your story man!! I would read it. PM me if others not interested! I am jsut another keyboard warrior.. poor one of coz… T.T
Not much to say really, got my first job at 14 working in a retail store whilst at school, at 17 i got a 2nd job delivering pizzas whilst still at school, was working 5 nights a week + all day on both sat + sun, once i finished my HSC (UAI 86) got my HR license, started working as a road town clown, moved onto a syd-newc run, got my MC at 20, moved to linehaul then to fuel tankers.
So hard work, bit of sacrifice can change anyones story.
@copie what do you do if you dont mind me asking?
Truck driver, specifically dangerous goods fuel delivery.
Nice work, where are your IPs?
Newcastle region, solid growth, good rental return and very high occupancy rates
You've put your assets but haven't put what your debts are (presuming you have them…hence the reference to the bank slavery). Makes a big difference in the equation if you have $100K or $1M in debt…feel free not to put them if you don't want to, but just wanted to point that out.
If I sold everything tomorrow at market value I would be around the 550-600k mark ahead, not including the small assets
- Thats your net worth. Still damn good considering you age profile,I'd guess in the top 5%. Also you have got into managing your money early which is massive tbh, a lot people don't have much of a clue till later down the track.
51 years old, working 50-60 hours a week. Husband 53 years old, working 40-45 hours a week.
Four kids, only one of which is still a dependant.
Net worth $2.5 million
Planning to keep working until 65-70
Migrated here in 1991
Fan of Ozbargain, garage sales, Flemington and Parklea markets
Red Cross,Catholic Mission and World Vision supporterYeah, not funny the first time.
I'd be surprised if you had more than one wife! Neither would be too happy about it though.
Only 1 wife?
I think the OP made a valid post with a proper question, so firstly I don't know why past the first few comments people found it good to take the mickey… but anyway…
25 about 100k excluding superr.Maybe abit less on second thoughts. More if the sharemarket rebounds…. probably burnt a good 20-30k on that which is a shame.. good lessons I guess.
On the other hand the best advice I've read from successful people who've walked down the road of life is that there is no value or anything to gain out of comparing yourself to others. Success and improvement is relative to one self, not others. So work on improving how you feel financially and your happiness, and while this may have correlation with how others are doing, it shouldn't be the direct defining aspect of the success you chase.
You can be a millionaire and still be miserable.
that (not so) subtle brag
if you want to let people know you have $1.5m perhaps you should check out the most recent $575k rolls royce deal
Agreed, it isn't polite to ask people this in person so why should it be different here? Letting people know you're a millionaire really just sounds like ego stroking.
it isn't polite to ask people this in person so why should it be different here?
Because this is the internet. It's a general question not specifically targetting you and if you aren't comfortable answering there's no need to get offended or make excuses as you would have to in person. Just dont answer. Those who do want to answer can remain (mostly) anonymous and not everyone is going to find it rude to be asked this either. OP is reaching out to those audiences.
It's good to know how well off you are or aren't compared to people who have had the same amount of time as you. If you've spent the majority of your years struggling and building your life you would like to know all the efforts and luxuries you've passed up previously weren't for nothing. You could probably also figure how lucky or unfortunate you have been over the years to put you where you are now. Are there people out there that have worked as much? Or worked harder? Did they achieve more or less? Are people happier with less? Was it worth all that's been done? There's no harm in wanting some self assurance about where you sit in society.
You wont really have a good idea of this without asking (without becoming close to being a stalker) because averages dont always tell you enough.
Well said, you read my mind.
44 yrs, 1 wife (2nd time round) 1st wife 2 adult kids…….paid heaps in child support!
2 investment properties worth $460k each, owing 460k in total
Own my house worth 540k
Own 2 cars 45k in total
SMSF worth 450k
Cash 20k
Shares 30kThe best thing is I am setting up my primary school aged son, ASG worth 8k and over 14k in a ubank acc!
The love of money is the root of all evil.
1 Timothy 6:10 KJVReligion is the root of all evil.
- Everyone else.Seeing as the Church loves money so much that they lobby continuously to have their organisation tax exempt - It's the same story of "do as I say, not as I do" and that a love for money is actually deeply engrained in modern Western Christian culture (along with hypocrisy).
18 years old, 25k in savings.
How the heck?
Are we missing something, or did you make this all on your own?
You missed nothing, just slaving away at Maccas
43, happily married to awesome wife, 1 beautiful child. Have lived in 3 different countries, and 4 cities and saved up every dime to buy my house outright (no mortgage, a number close to 6 figures). Yep, good old fashioned savings. Have zero need to care what my net worth is as we're extremely content with where we are. Zero debt, minimal outgoings, no leverage, no equity maaaate, just the fact that I bring in way more money than we ever need is enough. Net worth: infinity.
Edit: my comment already covered below.
Why are you so personally concerned by my situation? It was obviously a typo in my message.
Where can you get houses around 100k these days? Might get a box on 5m^2 in Paramatta.
My mistake, SEVEN figures :)
Seems believable. A millionare who doesn't know what six vs seven figures is.
Vote down because of a typing mistake? Are people just jealous in here or something?
@wasabinator: You actually saved up $1,000,000 manually and then purchased a house with cash? Unorthodox.
@rochow: Yes even my accountant looked at me strange. I was raised to believe that saving money was a good thing. I know in this day and age of leverage it's not 'the way' to get ahead, but it worked out fine for me. I am just not comfortable owing vast sums of money to other people (especially banks). It's certainly very un-Australian of me, lets say.
It has it's advantages. Before I bought, I took several months off work to re-invent my career. It was an option I could take because my finances weren't highly strung. It was just slowly accumulated over time.
@wasabinator: damn what do you do that was so transferable over 3 countries and 4 cities? my only guesses is finance/banking or computers/IT (my field)
Wait you only make $38 dollars a year??