Posted 11/25/2023, 12:24:00 AM
Young and Old, Worlds Apart: Wealth Gap Widens as Youth Struggle and Seniors Prosper
- Older Australians living well with rising incomes and savings while younger people struggle with high costs, debt, and few assets
- Wealth gap worsening between young and old due to pandemic impacts and interest rate rises
- Housing affordability crisis disproportionately affecting young renters and mortgage holders
- Over 55s spending more on essentials and non-essentials as incomes surge from high super payouts
- Financial strains weighing on young people's outlook, with many believing they'll be worse off than parents