How are you going financially compared to others ?

[Basil]

Sometimes useful to know how you are going compared to others.
https://www.rnz.co.nz/news/business/574634/what-you-need-to-be-among-new-zealand-s-richest-people
I'm not commenting on our family position.  Just posting this so you can see where you are relative to other New Zealanders.

[HAWKDOG]

Wowser.

"Nowadays, 40% of people aged 65 and over have virtually no other income besides NZ Super. And another 20% have only a little more. Even with NZ Super, close to 1 in 3 people don't think they will have enough for retirement unless they continue working past 65."

https://retirement.govt.nz/news/latest-news/new-research-highlights-how-reliant-older-new-zealanders-are-on-nz-super

[Bev]

Interesting and sobering.

[Otago K]

Wowser.

"Nowadays, 40% of people aged 65 and over have virtually no other income besides NZ Super. And another 20% have only a little more. Even with NZ Super, close to 1 in 3 people don't think they will have enough for retirement unless they continue working past 65."

https://retirement.govt.nz/news/latest-news/new-research-highlights-how-reliant-older-new-zealanders-are-on-nz-super

Just being mindful the reporting was 2022, don't imagine it has altered to much to the positive for the majority of folks.

[ValueNZ]

"A median household would have basically nothing in bonds, stocks, that sort of thing. But quintile five, the top 20 percent - 18 percent of their assets are coming from stocks, bonds," Olsen said.

The middle group of households had 92 percent of their wealth in their own home.

"If you think about three groups in society - those that don't have any substantial assets, don't have any property or shares or anything, they haven't shifted much at all over the last decade," Olsen said.

"The most wealthy group has property and other investments and the middle group has more property than anything else, as property has increased in value the gap has become a bit smaller between the middle wealthy and the super wealthy."

So basically the main driver of this wealth was property price appreciation.

Funny money in reality.

Crazy that the top 20% only have 18% of wealth tied up in stocks and bonds.