How much capital do I need to retire comfortably on ?

[Sideshow Bob]

In Australia

411,128 accounts with 1 Mio +
80,000 with 2 mio +
11,000 with 5 mio+
100 with 50 mio +
Wait for it .... 1 with $ 544 mio , great retirement coming up !!!!

Have they worked out who has the $544m yet?? They were picking Gina Reinhardt but don't think its her.

[CJ]

Have they worked out who has the $544m yet?? They were picking Gina Reinhardt but don't think its her.

Wouldn’t think it was her unless there was tax incentives to move wealth into one.

Surely it’s Cannon-Brookes? Put some of his shares in Atlassian in his self managed super fund when they were worth hardly anything.

[Aaron]

Maybe Aussie not as egalitarian and perfect as I thought. Not sure "The Australian Institute's" bent but probably left leaning based on their concerns about 10% taking 93% of the countries economic gains since 2008-2009.

The numbers are so big they are hard to believe.

https://www.abc.net.au/news/2023-04-...ains/102200878

A progressive tax system helps to balance this somewhat.

I wonder what has happened since 2008-2009 to channel all the wealth into the top 10%'s hands? Hmmm tricky. The cost of capital is near zero and the people with all the capital are doing really well. A tough one, perhaps we need some economists or central bankers to explain what is happening.

Can 90% of the population be stupid and/or lazy? (possible it is Aussie after all).

Stupid if they put up with central banks supporting the asset prices of the 10% at the expense of everyone else that is for sure, or maybe I just don't understand trickle down economics.