Many of us compare our financial circumstances or wealth to our colleagues, friends or peers. The problem with undertaking this comparison is that whilst we may have some idea of the assets that they own we generally have no idea of their debt or what their annual earnings are.

Rather than comparing ourselves to others we can self-assess our own performance by undertaking this quick quiz.

1. Do you remember the annual salary of your first full time position since leaving school? If so jot it down.

2. What is your current annual salary, (I am assuming that this is your highest level of earnings, so far)? Jot this figure down.

3. Now add (a) and (b) together and divide by 2 to calculate your average earnings. Jot this down.

4. Multiply (c) your average annual earnings by the number of years that you have been working. This will give you an estimate of your total earnings to date.

5. Now, what have we done with these earnings? By quantifing your assets and liabilities, I have provided a basic pro forma below, you can determine your net wealth.


Home, value                                             $

Investment Property, value                  $

Shares                                                       $

Managed Funds                                      $

Term Deposits                                         $

Superannuation                                      $

Bank Accounts                                        $

Car, Boat, Caravan, Truck                    $

Net Value of your business                  $________________

e (1)   $________________



Mortgage                                                   $

Car Loan                                                    $

Credit Card                                                $

Personal Loan                                          $________________

e (2)   $________________


Net Assets                                     e (1) – e (2)


If you are married or have a life partner you should consider doing this exercise with them as well to determine your combined earnings on combined net assets.

How does your total lifetime earnings in (e) compare to your net assets?

By undertaking this exercise you should be able to form your own opinion as to whether you believe you have been a saver, an investor or a spender to date. After undertaking this exercise are you happy with your result?

Should you require assistance with wealth creation strategies please feel free to contact


Peter Quinn by submitting an online enquiry or calling us on +61 2 9580 9166 to book an obligation free appointment.


The information in this document does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it.  It is important that your personal circumstances are taken into account before making any financial decision and it is recommended that you seek assistance from your financial adviser.