How Does Your Income Compare to Other Australians?

[@OZRuiShi]

⚠ Friendly Reminder ⚠ Watch out for comments promoting specific financial advisers or services-they may have their own agendas and could be scams. Stay safe and always verify sources!

[@neverfond]

you know you can delete/shadowban those account for commenting on your video correct?

[@AussieTVMusic]

I earned $25k a year in 1988 and bought a house for $56k. What chance has a young person got today to buy a house? The Government is a disgrace. Housing should not be an extra investment vehicle.

[@OZRuiShi]

Thanks for sharing your perspective. It’s true that the housing market has changed significantly since the 80s, making it much harder for young people to enter the market today. It’s definitely a challenging issue that raises important questions about housing affordability and policy.

[@penitent2401]

Can you imagine a house costing $150-200k today? House value to income ratio is hitting over 10 times now for average house.

[@overworlder]

Howard ruined the housing market to buy votes

[@maxd5007]

I'm somewhere in the top 10-1% of income earners apparently. A median house is 10x my income, I can't afford to borrow even 50% of a median house. These interest rates are unsustainable, and the house prices are too.

[@OilBaron100]

how much was a typical mortgage interest rate back in 1988? 18%? How does that compare to a typical interest rate in 2024 - about 6%? Plus in 2024, a higher proportion of households are dual income and women earn higher wages. How can housing not be owned by private investors in Australia? Only 3.8% of housing stock in Australia is public housing. We are very dependent on private landlords/investors to provide housing stock to renters.

[@Forged-By-Iron]

Ah yes. I am a top 10% and still nowhere near being able to afford a house.. This is fine..

[@OZRuiShi]

Thanks for sharing. It’s definitely tough out there, even for high earners. The housing market is a challenge many are facing right now. Hang in there!

[@PeterParker-st9ps]

better learn to code and make a second income.

[@PeterParker-st9ps]

I love the background music Rui. It really pumps me up on my drive to work while I listen to your voice.

[@OZRuiShi]

Thank you! 😊 I’m so glad you’re enjoying the background music-it’s great to hear it adds energy to your drive! Although I’ve received many feedbacks that it’s a bit too loud, so I’ll be adjusting it in future videos.

[@walkingtofi]

Thank you for your quite detailed information. I had my pen and paper ready.....I am suprised with some of the findings. Your channel is on my weekly checklist.

[@OZRuiShi]

Thank you! 😊 I’m thrilled to hear you found the information helpful and even had your pen and paper ready. It means so much that my channel is part of your weekly checklist-appreciate your support!♥

[@policyexplained7030]

Really good video, especially explaining the methodology differences between different measurements. Having been through these sources I know how much of a pain it is!

[@OZRuiShi]

Thank you! 😊 I’m glad you appreciated the explanation. It definitely can be a pain to sift through different methodologies, so I’m happy the video made it clearer!

[@venturingfinance9171]

Good summary. In the end, assets are what derives your wealth position. People might be earning >150k but feel poor that's because they are without much assets... Purchase assets everyone... Not advice but a plea. Stocks, crypto or whatever!

[@OZRuiShi]

Thank you! 😊 You’re absolutely right-assets play a huge role in building wealth. Earning a high income doesn’t always translate to financial security without investing in assets. Great reminder to focus on long-term growth!

[@cxleee]

Nice well researched as always

[@OZRuiShi]

Thank you! 😊 I’m glad you found it well-researched-your support means a lot!

[@evanmiller2529]

Another video worth doing is how Australians rate internationally. There is an online international wealth calculator, and I think most Australians have little idea that we are quite fortunate.

[@OZRuiShi]

Thank you for the suggestion! 😊 I’m actually planning to do a video on this topic-it’s such an eye-opening perspective to see how Australians compare internationally. Stay tuned!

[@Happypunter]

Fortunate that the average house price is unaffordable?

[@evanmiller2529]

@@Happypunter we are not alone there.

[@BrettHoTep]

We are fortunate but higher take home pay still just gets eaten up by everything costing more here.

[@roamingalone5226]

Get rid of your background music. It's not necessary, and annoying can be so distractive. Thx

[@OZRuiShi]

Thanks for the feedback! 😊 I’ll consider either removing the background music or lowering the volume in future videos to make them more enjoyable. Appreciate you letting me know!

[@wadehocking1395]

Lowered volume would work well

[@iJagraho]

Shut music

[@Zan-o1y]

Damn, I thought it went pretty hard 😅

[@sidon1979]

Music is louder than the voice, how do you even think this is ok? Admit your mistake or get another job

[@grantbartholomew2057]

I'm a Carer, i do 120 hours per week looking after a disabled wife. That works out to be about $4.76 per hour. I guess I'm at the low end of Australia

[@OZRuiShi]

Thank you for sharing your story. Being a carer is an incredible commitment, and the work you’re doing is so valuable, even if it’s not reflected in the pay. Wishing you strength and support. ♥

[@Woodland26]

I have dropped my hours to around 30/week and is now 92nd percentile for income.

[@OZRuiShi]

That’s impressive! 😊 Dropping to 30 hours a week and still being in the 92nd percentile is a great achievement-well done!

[@krishkam186]

Much more useful to do the same analysis for every city centre/ metro area, the above statistics would be much lower compared to it.

[@OZRuiShi]

Thanks for your comment! 😊 You’re absolutely right-doing the same analysis for each city centre or metro area would likely show much higher statistics. It’s an interesting idea for future content!

[@EMTEMT74]

Why are CEO's even considered as employees? Their income greatly skews the data and should be considered as outliers.

[@OZRuiShi]

That’s an interesting point! 😊 CEO incomes can certainly skew data when calculating averages, but they’re still classified as employees under most reporting standards. It’s a common debate when analysing income distribution!

[@jimmyb4982]

Only someone who doesn't understand statistics would make such a claim. The more diverse the sample, the more robust the analyses.

[@huihe953]

Do these data take into account franked dividend income and other tax reduction techniques? The abs data for Mosman for example suggest that the average income for a mosman household would be approximately $150k per year and yet the median house cost $5.7 million and the average apartment $1.3 million in that area. Both these prices are clearly above what banks will lend to a $150k household (grossly approx $750k at 5x annial income).

[@OZRuiShi]

Great question! 😊 Depending on which ABS report and specific figures you’re referring to, the numbers can vary-some reflect gross income, some taxable income, and others total disposable income. The phenomenon you’re describing is indeed mind-boggling, and it’s a big part of why so many people feel property prices are out of reach. It’s definitely a topic worth exploring further!

[@NoRegertsHere]

Average and median incomes aren’t buying the houses. Most recent house price set at the margins. So only much higher incomes and or selling previously owned property and stepping up a suburb whilst carrying a $1m debt the whole time

[@AgathaTsing]

I’m probably 95% percentile and family income 90% percentile, still feeling not having much 😢disposable income

[@OZRuiShi]

Thanks for sharing. It’s a tough reality for many-being in the top percentiles doesn’t always translate to feeling comfortable, especially with rising living costs. Hang in there!

[@charliequach6399]

Music is too loud. I have to fight the pounding of the music to listen to the figures in the backgrounds. Not everybody can understand figures easily, especially when you talk fast over the loud music.

[@OZRuiShi]

Thank you for the feedback! 😊 I’ll work on lowering the background music volume and slowing down the pace to make the figures easier to follow. I really appreciate you letting me know!

[@itsVOIDLORD]

I was born in Australia and I'm in the top 10% of income earners and I am looking at leaving Australia. The quality of life has decreased drastically and I'd rather take my wealth elsewhere. The housing ponzi has become a joke and I don't want to pay interest in Australia until I die. Other countries have housing, water, food and community. Don't feel like I would miss out on anything by leaving.

[@OZRuiShi]

Thanks for sharing your thoughts. It’s tough when the cost of living and housing market make it feel like quality of life is slipping. Exploring opportunities abroad can definitely be a way to reassess priorities and find a lifestyle that aligns with your goals. Wishing you the best in whatever you decide!❤

[@adurasarangheyo9597]

lol. I LIVED OVERSEAS for more than 15 years. because of this i love australia more than the average aussie, and i of course have more reason to. knowledge and experience. GOOD MOVE, GOING OVERSEAS WILL HELP YOU TO REALIZE how good oz is. good luck !!!

[@rowdytriesstuff9173]

Should do a video comparing spending. Wasting money is the main problem I see with my friends and family.

[@OZRuiShi]

Great idea! 😊 Comparing spending habits and addressing common pitfalls like wasting money would make for an interesting topic. Thanks for the suggestion-I’ll definitely consider it for a future video!

[@low-profile-dude]

We are not fooled by the fake bitcoin conversation.

[@tonez2196]

I earn around 200k a year and definitely dont feel like im in the upper class, guess thats what sydney does to you

[@OZRuiShi]

Thanks for sharing! 😊 Earning $200k in Sydney can definitely feel different with the high cost of living-it really puts things into perspective. You’re not alone in feeling that way!

[@Woodland26]

among my peers 200k a year definitely is doing poorly

[@penitent2401]

Search for friends outside of your social circle. Listening to my general manager chatting with our client over lunch or tea meeting or catch ups keep opening my eyes to how the other half lives. Their talk about how their new house build is coming along, cars they're getting or trading in, horses or pets or hobby items and projects they got or where they're going over the weekend. Meanwhile I'm sitting there thinking I can hardly afford the food and drink here if the GM was not the one paying with his company credit card, he don't pay me nearly enough to do any of that.

[@PeterParker-st9ps]

Stop eating avocado breakfasts and chai lattes every day. Your income will stretch further.

[@penitent2401]

@PeterParker-st9ps not everyone is eating avocado and chai lattes everyday. It's like going back to 1980 and telling everyone to stop eating bacon and eggs and smoking 1 pack a day to stopmbeing poor. Same class of people who can afford those thing but they switched to more healthy avocados instead of bacon and chai lattes instead of pack of cigarettes. It's like pointing to the people camping outside Apple stores to buy new $1000 iPhones every year and saying they should stop complaining about skipping meals so their children can have something to eat and deciding between paying for electricity so they have heating in winter or paying the rent this month.

[@thebnrcollective8537]

According to TikTok, 'everyone' seems to earn 150K or more :-).

[@OZRuiShi]

😂 It sure seems that way on TikTok! Social media can definitely give a skewed perspective-real-world stats often paint a very different picture.

[@Stu-Bo]

Wow, today I learned I'm in the top 20% of earners in Australia but I still can't secure a loan for a house.

[@OZRuiShi]

Thanks for sharing. It’s a stark reminder of how tough the housing market has become, even for those in the top income brackets. Hopefully, things improve soon!

[@JustJamesDean]

I am interested to find out wealth distribution 😂

[@OZRuiShi]

Stay tuned! 😊

[@hiroshiganna9078]

Its funny that the top 10% is still middle income,

[@elylioney6390]

What convenient timing

[@OZRuiShi]

Sometimes timing works out perfectly! 😊

[@OilBaron100]

Wow, 35K views!!! All of the negative comments about your video’s background music must have boosted it in the KZbin algorithm…

[@OZRuiShi]

It’s funny how feedback works sometimes-every comment helps the algorithm in its own way. I’ll take the views as a win!😊

[@MuhammadFaheem-k6g]

Hi Rui,been watching your finance content for a while.Im content strategist so ,would you be interested my editing and strategy

[@OZRuiShi]

Hi! 😊 Thanks for reaching out. I’m actually looking for an editor right now. If you’ve seen my ad on one of those websites, please feel free to respond there!

[@MuhammadFaheem-k6g]

@OZRuiShi your email?

[@Dantheman721]

Smart woman!

[@OZRuiShi]

Thank you so much! 😊 I really appreciate your kind words!

[@zubair_1989]

Hi, I saw your post about needing a KZbin editor. I’d love to help make your content engaging and professional. Let me know if you’re interested. I can create a sample video for you. If you’re happy with it, we can proceed with the project.

[@cipher233]

i dont know about others, but i can't see anyone earning below 100k around me. This even includes cleaners and gardeners . The only ppl making less are perhaps the uber drivers.

[@OZRuiShi]

Thanks for sharing your perspective! Earnings can definitely vary a lot depending on location and industry. 🚗💰

[@Asher104]

So the girl who made your cappuccino this morning is earning over $100k? Grow up

[@jimmyb4982]

@@Asher104 Yeah, it's a silly argument. Plenty of professions do not pay over 100K for non-managerial roles.

[@THDuffield]

According to these figures I would be in the top 6/5 percent of income earners. I have zero debt and have chosen to rent rather than buy a house because the numbers don't add up in the current market when considering all factors. However, despite not having to worry about money to pay my bills, I feel more and more like I'm still just a cog in the wheel with huge taxes and all the government regulations and policies making it very difficult to achieve true financial freedom. The Australian government is honestly more of a roadblock to achieving wealth and financial freedom than an enabler which is completely illogical and self-destructive in my opinion. If you want a strong economy in the future, you need to empower and support the people who are building that future economy. This is why governments should NEVER control the economy. Every time governments become too powerful and take control of the economy; they always end up destroying it. Government's role is simply to enable, empower, support, and protect the people who are building the future economy. The citizens of a country are its lifeblood and future, not the government.

[@OZRuiShi]

Thank you for sharing your thoughts and experience! 😊 It sounds like you’ve made some thoughtful financial decisions, like choosing to rent and staying debt-free. It’s true that taxes and regulations can feel like a hurdle for many trying to achieve financial freedom. The balance between government involvement and enabling economic growth is always a heated debate, and your perspective highlights some important points about empowerment and support for individuals driving the future economy.

[@0401412740]

You're English very good for Chinese

[@Woodland26]

Your!

[@OZRuiShi]

Thank you! 😊 I appreciate the compliment.

[@grystle3091]

This is useless if not dangerous... Comparing your income with others has no actionable relevance. What you get paid is a reflection on your experience and expertise against the value and worth you hold to your employer. If you see someone working the same job as you but getting paid more, doesnt mean you should get paid the same. Why, because you happily agreed to it at the time. But now someone else is getting paid more, you suddenly are not happy? This is called greed.

[@OZRuiShi]

Thanks for sharing your perspective! 😊 It’s true that comparing incomes can sometimes lead to frustration rather than actionable insights. However, for some, it’s about understanding broader trends or negotiating their worth more effectively. Ultimately, everyone's situation and reaction can be different-it’s an interesting discussion!

[@kelsey_roy]

Background sound is annoying and makes you hard to understand. It’s unwatchable to my ears

[@OZRuiShi]

Thanks for the feedback! 😊 I’ll definitely take this into consideration and work on improving the audio in future videos. I appreciate you letting me know!

[@101010Meaning]

“Redistribution” another word for theft! What is “fair”?

[@OZRuiShi]

Thanks for sharing your perspective! Discussions around redistribution and fairness often spark a lot of debate. It’s definitely a complex topic with many viewpoints.

[@mangoinvests]

Good thing my dividends alone are getting me 100k per year

[@OZRuiShi]

That’s fantastic! 😊 Earning $100k per year from dividends is a great achievement-well done!

[@gollsrikanth5338]

Music is so dominant. Get rid of it.

[@OZRuiShi]

Thanks for the feedback! 😊 I’ll look into reducing the music volume or removing it to improve the experience. Appreciate you letting me know!

[@tc88888888]

Need to stop that music.

[@OZRuiShi]

Thanks for the feedback! 😊 I’ll look into adjusting or removing the background music in future videos to make them more enjoyable.

[@jakerice6584]

You're not an Australian

[@jimmyb4982]

How do you know? She obviously wasn't born in Australia, but she may have citizenship. Nevertheless, what's your point?

[@jakerice6584]

@jimmyb4982 citizenship doesn't make you an Aussie. A donkey in a horse stable doesn't make it a horse.

[@Dontvotekamala]

Hit $175k today. I'm really grateful for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in January

[@SarahMorgan-f2x]

How please

[@SarahMorgan-f2x]

I've been investing in Bitcoin by myself. I'm not really happy with what's going on, just few weeks ago I lost about $7,000 in a particular trade. Can you help me out or at least advise me on what to do?

[@Dontvotekamala]

I will advise you stop trading on your own if you keep losing. And i don't trade on my own anymore, I always required help and assistance

[@Dontvotekamala]

She's my family personal Broker and also a Broker to many families here in the United states, she is a licensed Broker.

[@REYNOLDS566]

😱Sounds familiar, I have heard her names on several occasions.. And both her success stories on wall street journey!

[@iJagraho]

SHUT THIS MUSIC. I stopped watching and left because of music. Otherwise I was subscriber.

[@OZRuiShi]

Thank you for the honest feedback! 😊 I’m sorry the music made the video hard to watch. I’ll work on adjusting or removing it in future videos to improve the experience. I really appreciate you sharing your thoughts!