Climbing interest rates have a disproportionate impact on younger Australians, while older, wealthier households can continue to spend. Rising debt repayments and elevated savings rates are moving money from young to old, leaving younger people under growing strain.
Climbing interest rates have a disproportionate impact on younger Australians, one analyst says, while ‘older, wealthier households’ can typically continue to spend as the generational wealth gap widens. Rising debt repayments alongside elevated savings rates are moving money from young to old, experts say, leaving younger people under growing strain.
Older Australians are living their best life, while weary younger cohorts are cutting back even on essentials, as a growing generational wealth gap threatens to take hold, researchers and financial experts warn. As the country’s more mature residents enjoy fast-rising savings accounts and unprecedented amounts of income flowing from their retirement funds, the outlook has rarely been so bleak for younger people, data analysis shows
Interest Rates Generational Wealth Gap Younger Australians Older Households Debt Repayments Savings Rates
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