Australia's Death of The Middle Class!

[@perminderjit1970]

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]

Crazy stuff right! Thanks for watching 🙏

[@JJ-mc8lu]

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]

That is not middle class mate. They are rich or over-leveraged

[@farhadhabibullah548]

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]

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]

Ravi pls do a video on how you think the mortgage cliff will play out

[@ichrisone]

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]

It’s really bad for society to have such big wealth disparity.

[@ADayInTheLifeOfJames]

Not for one end of society it isn’t… obviously

[@sebmorrell]

@@ADayInTheLifeOfJames It is when we start pulling out the guillotines. I get what you mean though.

[@Hunty49]

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]

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]

Hey Ravi, Great video. What do you think of some of the stuff that Jack Toohey is putting out?

[@starxrox]

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]

Did you make that up or its an actual term?

[@starxrox]

@@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]

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]

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]

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]

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]

Hi , any chance that I can get any advice??

[@zedizdead]

Where does the "122k millionaires" number comes from?

[@samoondaxoy6872]

Yes this is my question too!? Don’t mislead peoples!!!!!

[@dot9433]

Overseas. They're probs buying up our real estate.

[@genomedia44]

How long can this continue? At which point does it just become impossible for people to afford housing? Something's gotto give?

[@tomjones4451]

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]

So in the middle of a possible recession, you r suggesting buying property in Australia?

[@cameronwarren2280]

You said buy now its time to buy etc don't tell anyone to buy now

[@TysonTheRand]

Good video mate, very eye opening about the migrants being millionares.

[@Sh4dow682]

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]

What is the defination of middle class?

[@andyjcoop]

Above the lower class but below the upper class

[@JohnInvest17]

@@andyjcoop how do i know which one i am in?

[@RobG1983]

​@@JohnInvest17mate with your skillset you'd be upper for sure. One job and you're set for life 😂

[@PersonalFinancewithRaviSharma]

LOL! I'm actually dying reading this comment! John Wick knows what's up

[@mehul2011]

Hey Ravi, great video as usual but what's the source of information about migrants being millionaires?

[@JJ-gn8px]

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]

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]

What so you mean when you say financial education is gatekept ?

[@AnAussieinNorway]

That's shocking. Shame on Australia. Australia is in decline.

[@wilburkong]

i mean people who need to view this to understand are deservedly poor aint it. He didnt point out anything new

[@samoondaxoy6872]

Labor government should limit on the numbers of migrant they bring to this country.

[@TysonTheRand]

Sup bra