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Want to be among Australia's wealthiest 1 per cent? There's good news and bad news

The amount needed to land among Australia's richest one per cent has fallen but it still takes about 75 years saving the entirety of the average salary to get there.

Want to be among Australia's wealthiest 1 per cent? There's good news and bad news
Apartments priced above the $10 million mark are seen as an investment target for the super wealthy. (Image source: Shutterstock.com)

If you want to be among the top 1 percenters in Australia in terms of wealth, there’s good news and bad news.

The good news is it has become easier to get into the top 1 per cent wealthy club in Australia.

The bad news is you’ll still need to rustle up $7.17 million.

But that’s still a couple of decades of the average salary less than it was two affluent years ago. In 2022, a bank balance of $8.45 million was needed to be in such exalted mansion,…

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