1 November 2025
When you hear the word "wealth," what comes to mind first?
For some, it's a spacious home and a luxury car at the driveway. For others, it's the ability to travel without worrying about expenses. In popular films of recent years, wealth is often associated with glitz, parties, and expensive accessories. However, in real life, things are much more complicated: many truly wealthy people lead modest lifestyles, preferring accumulation to excess.
There are many definitions of "wealthy." The classic German dictionary, Duden, describes it as "a person possessing significant material assets, property, or resources." But it's important to understand: a high income doesn't always equate to true wealth.
For example, according to Statista, to be among the top 10% of wealthiest households in Germany, you need a net worth of approximately €1.2 million. However, to be in the top 10% by income, you need to earn €90,000. The numbers speak for themselves – high income and high net worth are far from the same thing.
The key conclusion economists draw is that wealth isn't determined solely by the amount you earn. It depends on how you manage your money – whether you invest it, create passive income streams, and manage your expenses.
True wealth isn't built on a paycheck, but on the financial decisions you make every day. Therefore, the question "Am I rich?" should be replaced with "How effectively do I manage what I have?" This is where the true meaning of the word "rich" lies.
Not everyone who calls themselves a financial expert has your best interests at heart. When searching for a professional, look for those who hold the status of a trusted advisor—in Australia, such professionals are called fiduciary advisers. These advisors are legally obligated to put the client's interests above their own, especially when it comes to fees, products, and investment decisions.
Tip: Find out what your advisor specializes in—retirement savings, asset management, or tax planning. It's important that their experience aligns with your current financial goals and future objectives.
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Many Australians believe they can manage their investments independently. But knowing your own business doesn't mean you know the stock market.
Imagine: you might try to change the brakes on your car yourself, but most people would trust a professional to do it. It's the same with finances—a mistake can cost far more than the cost of the consultation.
Even experienced investors periodically review their strategies with a financial advisor to ensure they reflect real economic conditions and are free of hidden risks.
Financial advice is a growing trend.
With global market volatility increasing, more Australians are seeking professional advice to protect their assets and improve investment returns. The Australian Securities and Investments Commission (ASIC) predicts that demand for financial advisors will grow 15% by 2035, outpacing most other financial services.
"Finding your advisor isn't a coincidence, it's a conscious decision," says financial analyst Sam Lawson of Harbour Financial Advisory in Sydney. "When you feel it's time to act, act."
That's why it's important to understand how an advisor makes money, the terms they work under, and how transparent their strategy is. Trusted specialists explain everything in simple terms, are transparent about the terms, and always provide calculations of fees, taxes, and return forecasts. They focus not on short-term gains, but on the long-term sustainability of your portfolio.
Even experienced investors find it difficult to maintain composure when the market is falling. A professional perspective is essential – an advisor can help mitigate emotional risks, avoid rash selling, and adjust the strategy in favor of more stable assets.
Furthermore, specialists can offer portfolio diversification, including international assets, index funds, or pension solutions that remain stable despite inflation and currency fluctuations.
Modern financial advisors in Australia actively use digital tools – analytical dashboards, forecasting models, and online platforms for collaborative asset management. This means you can monitor your portfolio in real time and see the results of every decision without spending hours analyzing charts and reports.
Today, choosing a smart financial partner is not a luxury, but a necessity. Whether you're saving for a home, planning for retirement, or simply want to increase your savings, a qualified advisor will help you move confidently, avoiding the common mistakes of private investors.
Compare their experience, qualifications, and strategy—and choose the one who can truly help you move toward financial independence.
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