* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, September 18, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    REO to return for UI homecoming – The News-Gazette

    REO Gears Up to Ignite the Stage at UI Homecoming Celebration!

    Gen V Season 2: What is The Odessa Project? – yahoo.com

    Gen V Season 2: Unlocking the Secrets of The Odessa Project

    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

    The Emmys are back: Viewership soars to highest numbers in 4 years – yahoo.com

    The Emmys Return with a Bang: Viewership Hits a 4-Year High

    From Spinal Tap II to Ed Sheeran : your complete entertainment guide to the week ahead – The Guardian

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    Unlocking AI Success: How People, Process, and Technology Form the Ultimate Triangle

    Billion-dollar coffins? New technology could make oceans transparent and Aukus submarines vulnerable – The Guardian

    Billion-Dollar Coffins? How New Technology Could Make Oceans Transparent and Expose Submarines

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    REO to return for UI homecoming – The News-Gazette

    REO Gears Up to Ignite the Stage at UI Homecoming Celebration!

    Gen V Season 2: What is The Odessa Project? – yahoo.com

    Gen V Season 2: Unlocking the Secrets of The Odessa Project

    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

    The Emmys are back: Viewership soars to highest numbers in 4 years – yahoo.com

    The Emmys Return with a Bang: Viewership Hits a 4-Year High

    From Spinal Tap II to Ed Sheeran : your complete entertainment guide to the week ahead – The Guardian

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    Unlocking AI Success: How People, Process, and Technology Form the Ultimate Triangle

    Billion-dollar coffins? New technology could make oceans transparent and Aukus submarines vulnerable – The Guardian

    Billion-Dollar Coffins? How New Technology Could Make Oceans Transparent and Expose Submarines

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Who are NZ’s 1 percent, and how do you get there?

July 30, 2024
in Business
Who are NZ’s 1 percent, and how do you get there?
Share on FacebookShare on Twitter

Young happy woman with man relaxing on sailboat deck on vacation

There were 2587 individuals in New Zealand who qualify as having “ultra high net worth individual” status. File photo.
Photo: 123RF

If you want to get rich, you’d better start early – and potentially have a bit of luck on your side.

Here’s the rundown on what it takes to be among the wealthiest people in New Zealand now, and how you might hope to get there.

What’s wealthy anyway?

Data from real estate consultancy Knight Frank, included in its latest wealth report, showed that in 2023, there were 2587 individuals in New Zealand who qualified for its “ultra high net worth individual” status – with wealth of at least US$30 million.

Stats NZ said in 2021 the top 1 percent of New Zealand households had net wealth – assets minus debts – of at least $7.59 million. That compares to median net worth for all households of $397,000.

That data will be updated again next year and it remains to be seen how much that figure will have moved. While property prices are 16.4 percent below their peak – and that 2021 data includes most of the runup to the peak, – the S&P 500 is up 31 percent since that time and business values have probably not fallen as far as property prices.

Can a normal person get there?

Economist Ed McKnight, of Opes Partners, assuming $7.59m remained the most reasonable ballpark figure for the top 1 percent, ran the numbers to determine what it would take to invest your way there.

He said someone using only the US stock market would have had to invest $1704 a week, every week, since June 2004. They would have to invest every Wednesday that markets were open, and increase the amount invested in line with increases in household income.

“So you start with $1704 a week. Then next year, you increase that to $1786 a week, and it increases every year. For context, $1704 a week in 2004 is $2824 a week in today’s money. That’s $146,848 a year in today’s money. Which is well above the average household income of around $132,000 according to Infometrics. So not doable for most people.”

He said, over 20 years, 35 percent of the money accumulated via this method would have come from investments and 65 percent would have been investment returns.

If you wanted to accumulate the amount over 10 years, you would have had to start investing $6544 a week and do that every week. In that case, 55 percent of the money would come from investments and 45 percent from returns.

“This shows a very important principle that the longer you are in the market, the easier it is to grow your wealth because your returns start to compound. You earn a return on your money, then you earn a return on the return. Said another way, you use your money to make money.”

Someone could invest in property to get to the wealth goal, too, he said.

“Back in 2004 the median house in New Zealand sold for around $250,000. If we track that against the REINZ house price index, you would have had to buy a house every nine months to get into the top 1 percent. That means over the last 20 years you would have bought 27 houses.

“You would have made money on some and lost money on others. But just through the capital growth you would have made just over $7.6m, enough to get into the top 1 percent. If you wanted to start in 2014 and do it in 10 years then you would need to buy 61 properties, roughly one every two or three months.”

The power of time

McKnight said this “thought experiment” would be impractical in reality for most people but highlighted the value of time for investors.

“It’s easier to build wealth when you are in the market for the long term. If you are serious about growing your wealth, you wouldn’t just do it through property or shares, you would use a mix of different assets. One big one is growing and selling a business. That is a relatively well established path to growing wealth in New Zealand.”

He said even if someone started following the plan and invested $2824 a week from now, it would not guarantee they would get into the top 1 percent because the wealth of the top 1 percent could grow faster than the investment did.

“And there is also an argument about whether getting into the top 1 percent should be someone’s goal. It’s probably more important for Kiwis to think about what level of wealth would make them happy, rather than just aiming for a large number to get into the top 1 percent.”

Infometrics chief executive Brad Olsen said property had traditionally been a way that people would build wealth, but that was less of a sure bet into the future.

“If you went back a couple of years we wouldn’t have been having this conversation – it was pretty clear cut that houses go up in price, sometimes a lot and if you get into a house you can make some serious coin. Where house prices are at the moment with a commitment by government to open greater levels of supply and similar, that should dampen expectations around house price growth.”

He said if it was a bit more difficult to make money in property it might prompt people to invest in other things, such as businesses. “It could spin into new investment models… I do think it’s healthy seeing those drivers of wealth not as iron clad or gold plated as they might have been previously.”

He said there was evidence that the house price rises of the pandemic period had flattened some of the difference between middle-income households and the top tier.

“It’s a slightly perverse way of looking at it because the bottom group [non-homeowners] didn’t shift much in wealth over that time.”

Olsen agreed it was worth asking whether being in the 1 percent should be a target. “Money doesn’t make you happy, that’s probably true, but gosh, it gives you a lot more options. We’ve all got a complicated relationship with money.”

He said the country might be better off to consider what the minimum reasonable level of wealth or income was to live a decent lifestyle.

“In a sense that’s a lot more motivating.”

But he said the debate of what to include in the living wage calculations showed the difficulty of quantifying what was reasonable to most people.

Olsen said it was clear that it was time in the market rather than timing the market that helped people growth wealth.

“That’s increasingly important…the later you leave it, the less you get and the harder it becomes.”

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : RNZ – https://www.rnz.co.nz/news/business/523665/who-are-nz-s-1-percent-and-how-do-you-get-there

Tags: businesspercent
Previous Post

New Plymouth Airport solar farm ready for take off

Next Post

Kiwi exporters struggling with doubled shipping costs

Trump Designates Antifa ‘Terror Organisation’ Days After Charlie Kirk Murder – NDTV

Trump Designates Antifa ‘Terror Organisation’ Days After Charlie Kirk Murder – NDTV

September 18, 2025
Study: UIS contributes nearly $1 billion to the Illinois economy – NPR Illinois

Study: UIS contributes nearly $1 billion to the Illinois economy – NPR Illinois

September 18, 2025
REO to return for UI homecoming – The News-Gazette

REO Gears Up to Ignite the Stage at UI Homecoming Celebration!

September 18, 2025
WATCH: Former CDC doctor says U.S. is on track to see uptick in preventable diseases under Kennedy – PBS

WATCH: Former CDC Doctor Warns of Rising Preventable Diseases in the U.S

September 18, 2025
Local politicians, judges, officials face increased threats, new data shows – WDSU

Local politicians, judges, officials face increased threats, new data shows – WDSU

September 18, 2025
Washington State Honors Hanford Team for Protecting Native Habitat – Department of Energy (.gov)

Washington State Celebrates Hanford Team’s Success in Protecting Native Habitat

September 17, 2025
Kent State University unveils poetry inspired by science despite federal funding cut – Ideastream

Kent State University Unveils Science-Inspired Poetry Amid Federal Funding Cuts

September 17, 2025
Fired CDC director warns of backslide in US vaccine science under RFK Jr – Al Jazeera

Fired CDC director warns of backslide in US vaccine science under RFK Jr – Al Jazeera

September 17, 2025
Melting Pot Brings Back Its Most ‘Luxurious’ Fondue for a Limited Time – yahoo.com

Melting Pot Brings Back Its Most ‘Luxurious’ Fondue for a Limited Time – yahoo.com

September 17, 2025
Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

September 17, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (824)
  • Economy (844)
  • Entertainment (21,723)
  • General (17,097)
  • Health (9,889)
  • Lifestyle (858)
  • News (22,149)
  • People (848)
  • Politics (854)
  • Science (16,055)
  • Sports (21,344)
  • Technology (15,826)
  • World (828)

Recent News

Trump Designates Antifa ‘Terror Organisation’ Days After Charlie Kirk Murder – NDTV

Trump Designates Antifa ‘Terror Organisation’ Days After Charlie Kirk Murder – NDTV

September 18, 2025
Study: UIS contributes nearly $1 billion to the Illinois economy – NPR Illinois

Study: UIS contributes nearly $1 billion to the Illinois economy – NPR Illinois

September 18, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version