Why your first $1m is the hardest step – and how to keep it growing
by Andrew Hobbs · Australian Financial ReviewAndrew HobbsWealth reporter
Sep 17, 2026 – 9.09am
Approximately 79,000 Australians moved from “mass affluent” to “emerging high net worth” last financial year, helped by investment returns of nearly 10 per cent despite the effects of war, oil prices, and interest rate volatility.
Graduating to the emerging category requires having investible assets between $1 million and $2.5 million excluding the family home and superannuation.
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Andrew HobbsWealth reporterAndrew Hobbs covers self-managed superannuation funds (SMSFs), financial planning, retirement, inheritance, tax, personal finance and, sometimes, the Perth Bears. He has been a financial journalist for 30 years, previously at Bloomberg and AAP.
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