Page 13 - 1. What Wealthy Means to Australians in 2023

6 . W H AT W E A LT H Y M E A N S T O
MOD E R N AU S T R A L I A NS

Australians today I think, reading long term trends at a big-picture level,
regard ‘wealthy’ as having the freedom to live the lifestyle that they want.
And that includes lifestyles both before and after retirement.

Modern wealthy means having the include a house. Modern day wealthy is
freedom to (within reason) live wherever, encapsulated in having the freedom to
to travel as required, to not be unbearably choose between what is considered to be
burdened by the costs of everyday life, reasonable and proportionate options.
to have the option of helping children
Wealthy doesn’t mean living in Toorak or
(and grandchildren) as much we think is
Point Piper. For some it may mean having
reasonable, to keep fit and healthy, to look
the freedom to take a holiday, to visit the
our best, to follow our interests, to pursue
kids, to buy groceries, to stream a movie
our heart’s desire.
that takes their fancy. I think wealthy
Modern day wealthy means having equates with freedom.
individual freedom. It reflects the broader
“AMP, or indeed whoever, help me live
values and demography of modern
the lifestyle that delivers my personal
Australia. But it does require planning. And
happiness and satisfaction. That may
especially for contingencies like divorce,
include a home, a house; it may include a
job loss, ill health, the loss of a life partner.
Darryl-Kerrigan-styled castle; but it is also
Yes, this middle-Australia lifestyle probably just as likely to be a way of life that suits
includes a house. But it doesn’t have to me and my needs now and in the future.”

Wealthy doesn’t mean living in Toorak or

Point Piper. For some it may mean having
the freedom to take a holiday...”

12 What wealthy means to Australians in 2023