Australia's Death of The Middle Class!

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Personal Finance with Ravi Sharma

Personal Finance with Ravi Sharma

Күн бұрын

Пікірлер: 45
@perminderjit1970
@perminderjit1970 Жыл бұрын
Superb video, Ravi. We saw the death of the middle class happen in Malaysia when we were living there, some 10-15 years ago. It's accelerating there now. The same thing is happening here in Straya. INVESTMENT is the key. Thanx again
@PersonalFinancewithRaviSharma
@PersonalFinancewithRaviSharma Жыл бұрын
Crazy stuff right! Thanks for watching 🙏
@JJ-mc8lu
@JJ-mc8lu Жыл бұрын
The middle class is alive and kicking in my area. You can find them at the local cafes talking about what property and nice new car they bought and what holiday they have just booked!
@alexwest4629
@alexwest4629 Жыл бұрын
That is not middle class mate. They are rich or over-leveraged
@farhadhabibullah548
@farhadhabibullah548 Жыл бұрын
That is not middle class bro! I am a tradie, make 2000-3000/week, I cant afford that kinda life style. I have 2 kids, we are comfortable but cant save anything, discuss about what house and new car to buy, next holiday sort of $hits are upper class's topic
@RichardBuick
@RichardBuick Жыл бұрын
Thanks for the video, that number of 122,000 migrants who are millionaires - what is the time frame on that? Are they entering over a 2-3 year period, or already entered?
@riversidemedia2916
@riversidemedia2916 Жыл бұрын
Ravi pls do a video on how you think the mortgage cliff will play out
@ichrisone
@ichrisone Жыл бұрын
Cash is fine to hold at this time Ravi. Don’t scare people too much! Asset prices just haven’t dropped yet, foreclosures haven’t started either, its too early in the cycle.
@sebmorrell
@sebmorrell Жыл бұрын
It’s really bad for society to have such big wealth disparity.
@ADayInTheLifeOfJames
@ADayInTheLifeOfJames Жыл бұрын
Not for one end of society it isn’t… obviously
@sebmorrell
@sebmorrell Жыл бұрын
@@ADayInTheLifeOfJames It is when we start pulling out the guillotines. I get what you mean though.
@Hunty49
@Hunty49 Жыл бұрын
Australians need to go into Depression survival mode. Cut back ALL unnecessary spending, cut out ALL take out meals, reuse as much as possible etc. I see homeless begging while I'm out collecting as many plastic bottles I can find to make an extra couple of dollars. I understand that you are saying put your money into assets that won't depreciate, but they need to be AFFORDABLE assets. Property will hold its value, but it's unaffordable.
@bundyboy961
@bundyboy961 Жыл бұрын
Find an area that you can afford! Rather then say "I can't afford it"! Remember to ask yourself "how can I afford it"!
@CarlosGeezyY
@CarlosGeezyY Жыл бұрын
Hey Ravi, Great video. What do you think of some of the stuff that Jack Toohey is putting out?
@starxrox
@starxrox Жыл бұрын
Well, I'm screwed... I'm going to have to get into a throuple, hope to become a T.I.N.K (Triple income, no kids) and might be able to get a one bedroom apartment one day...
@TheDruzza
@TheDruzza Жыл бұрын
Did you make that up or its an actual term?
@starxrox
@starxrox Жыл бұрын
@@TheDruzza Well, I knew about D.I.N.K's - I just figured T.I.N.K's would be next due to inflation...
@williamcrossan9333
@williamcrossan9333 Жыл бұрын
Good vid. Plenty of points I agree with. The current situation, starting with 100 people, by age 65, only 4 will retire with financial independence. I wonder if that will change much over the coming decades? I suspect not. This rough figure has been around for a long time.
@nickpower-fj9bu
@nickpower-fj9bu Жыл бұрын
It should change as the compulsory superannuation contribution extends over complete working lives and at an increased contribution rate. Work for 40 years and you should be independent.
@tracyhong1864
@tracyhong1864 Жыл бұрын
Hi Ravi, thanks for sharing such insightful perspectives. I’m interested to know how do you find the idea of investing in overseas properties eg. Bali, KL, Bangkok?
@RobG1983
@RobG1983 Жыл бұрын
Good video Ravi. Unfortunately a lot of this is by design. The government wants wages to rise and people to come out if retirement and work more jobs / longer so they can make more tax. They have a pandemic to pay for. Agree investing is the only way. Tax and inflation will make you poor if you stay in cash.
@SeeSee11
@SeeSee11 Жыл бұрын
Hi , any chance that I can get any advice??
@zedizdead
@zedizdead Жыл бұрын
Where does the "122k millionaires" number comes from?
@samoondaxoy6872
@samoondaxoy6872 Жыл бұрын
Yes this is my question too!? Don’t mislead peoples!!!!!
@dot9433
@dot9433 6 ай бұрын
Overseas. They're probs buying up our real estate.
@genomedia44
@genomedia44 9 ай бұрын
How long can this continue? At which point does it just become impossible for people to afford housing? Something's gotto give?
@tomjones4451
@tomjones4451 Жыл бұрын
Remember 20years ago living off the dole was enough to get by now it’s near impossible! Inflation is the biggest killer, $$$ we earn not going as far as it use to.
@Jennyzhou-x1t
@Jennyzhou-x1t Жыл бұрын
So in the middle of a possible recession, you r suggesting buying property in Australia?
@cameronwarren2280
@cameronwarren2280 Жыл бұрын
You said buy now its time to buy etc don't tell anyone to buy now
@TysonTheRand
@TysonTheRand Жыл бұрын
Good video mate, very eye opening about the migrants being millionares.
@Sh4dow682
@Sh4dow682 Жыл бұрын
The rich get richer the poorer get poorer.. The only ones struggling are the lower to middle class folk.. but oh no not the ones with no financial problems. Thats the way the world is
@JohnInvest17
@JohnInvest17 Жыл бұрын
What is the defination of middle class?
@andyjcoop
@andyjcoop Жыл бұрын
Above the lower class but below the upper class
@JohnInvest17
@JohnInvest17 Жыл бұрын
@@andyjcoop how do i know which one i am in?
@RobG1983
@RobG1983 Жыл бұрын
​@@JohnInvest17mate with your skillset you'd be upper for sure. One job and you're set for life 😂
@PersonalFinancewithRaviSharma
@PersonalFinancewithRaviSharma Жыл бұрын
LOL! I'm actually dying reading this comment! John Wick knows what's up
@mehul2011
@mehul2011 Жыл бұрын
Hey Ravi, great video as usual but what's the source of information about migrants being millionaires?
@JJ-gn8px
@JJ-gn8px Жыл бұрын
Ravi how do you re-structure your situation with high debt making 40%-50% of your weekly take home pay? do you sell and buy something cheaper or stick it out, or rent it out and go live with parents or grandparents again? what options do people have?
@Geniuschange
@Geniuschange Жыл бұрын
We got side hustle, planning to rent a cheap unit after renting out our residence, also asked pay rise to employer which worked...and keep finding the way to reduce expense such as food, clothes, kids' education and all. We are controlling what we can control to get through this short term pain..
@awaken3202
@awaken3202 Жыл бұрын
What so you mean when you say financial education is gatekept ?
@AnAussieinNorway
@AnAussieinNorway 9 ай бұрын
That's shocking. Shame on Australia. Australia is in decline.
@wilburkong
@wilburkong Жыл бұрын
i mean people who need to view this to understand are deservedly poor aint it. He didnt point out anything new
@samoondaxoy6872
@samoondaxoy6872 Жыл бұрын
Labor government should limit on the numbers of migrant they bring to this country.
@TysonTheRand
@TysonTheRand Жыл бұрын
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