This paper uses the 2002 Household, Income and Labour Dynamics in Australia (HILDA) wealth module data to examine levels of wealth and debt in Australia among different age groups. This paper analyses the 2002 Household, Income and Labour Dynamics in Australia (HILDA) wealth module data to derive the following information: the structure and composition of household wealth and debt and whether this has changed in recent years; the distribution of wealth, including among and within age cohorts and between the most and least wealthy cohorts; retirement issues, focusing on the capacity of pre and post-retirement cohorts for self-funding during retirement; the wealth and debt levels of vulnerable groups in society, especially income support recipients and lone parents; and the main factors (demographic, educational, income related) that determine levels of wealth and debt