Australian Millennials are earning more, but how’s their future look?

A study on Millenials has shown that they are making more than their Baby Boomer counterparts.

Yet the older generation has increased their overall wealth faster than the younger generation, thanks in part to superannuation and rising property wealth.

One big difference between the generations going forward is the younger generation is renting more than buying property.

According to the ABS, younger households are buying less properties, but their indebtedness is rising.

A larger income may be eaten away by higher rental costs.

They need to build for the future, or later, retirement will be harder to afford.

Read more:

https://thewest.com.au/business/your-money/australian-millennials-incomes-have-grown-more-than-baby-boomers-and-millennials-in-other-countries-ng-b88812427z