Thursday, January 23, 2014

Australia and Wealth

3. For instance, Switzerland leads in average wealth, with each adult worth, on average, $513,000. Australia is in second place, at $403,000. The U.S. is in the $250,000-300,000 range.
4. But that's average wealth — which is to say, that number spikes if Bill Gates moves into your country. Median wealth is a more interesting measure. There, Australia leads with $220,000. They're followed by Luxembourg, Belgium, France, Italy, the UK, and Japan. The U.S. falls way back on this measure, with a median wealth of just $45,000.
5. Think about that for a minute: Most Americans are worth less than most Italians, Belgians and Japanese.
6. Some researchers think Credit Suisse overestimates median wealth in the U.S. Other estimates put us in 27th place.
7. The tremendous difference between average wealth and median wealth is the country's level of wealth inequality at work.
8. Global wealth inequality is even more startling, of course. After accounting for debts, assets of more than $4,000 put a person in the wealthiest half of world citizens. Assets of more than $75,000 put them in the top 10 percent. Assets of more than $753,000 put them in the top 1 percent.

Housing wealth: http://www.theguardian.com/business/grogonomics/2013/oct/14/australia-wealth-top-world

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