Greater preparedness to take financial risks, longer horizons for wealth accumulation, and regular savings habits are the most effective ways used by Australians to get richer, and a new study finds the family home accounts for 44 per cent of all household assets.

Melbourne University’s respected Household, Income and Labour Dynamics in Australia (HILDA) survey found savers who put money away each month and those who took risks expecting to earn substantial or above average financial returns, built the most wealth.