The part that gets me that they keep saying thing like: Over 55s now hold more than half Australia's wealth
Which includes most of the richest people in Aus,like Reinhart,Packer and other billionaires and in reality it's a
lot lower,(probably only 25 to 30% if it's worked out like the average wage).
The average wage is $1583 per week because they include all the ones that earn millions of dollars per year
and the true "average" is probably closer to half of what they quote,
@go-tazz wrote:The part that gets me that they keep saying thing like: Over 55s now hold more than half Australia's wealth
Which includes most of the richest people in Aus,like Reinhart,Packer and other billionaires and in reality it's a
lot lower,(probably only 25 to 30% if it's worked out like the average wage).
The average wage is $1583 per week because they include all the ones that earn millions of dollars per year
and the true "average" is probably closer to half of what they quote,
Yes, it's one of those cases in which "lies, damned lies and statistics" is relevant because the lazy journalism is highly misleading, there being such a significant difference between the median and the mean.
The statement probably also ignores how much of that "wealth" is locked up and non-disposable, eg in the form of owned or almost-owned residences, or aged care bonds and the like.
