{"id":838561,"date":"2025-04-02T16:13:07","date_gmt":"2025-04-02T21:13:07","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/02\/baby-boomer-sparks-outrage-over-his-money-advice-for-young-aussies\/"},"modified":"2025-04-02T16:13:07","modified_gmt":"2025-04-02T21:13:07","slug":"baby-boomer-sparks-outrage-over-his-money-advice-for-young-aussies","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/02\/baby-boomer-sparks-outrage-over-his-money-advice-for-young-aussies\/","title":{"rendered":"Baby boomer sparks outrage over his money advice for young Aussies"},"content":{"rendered":"<div id=\"js-article-text\">\n<ul>\n<li class><strong>READ MORE:\u00a0<a target=\"_self\" class href=\"http:\/\/www.dailymail.co.uk\/news\/article-13866589\/savings-aussies-men-women.html\">How much money does the average Aussie really have? Here&#8217;s how your savings stack up against everyone else<\/a><\/strong><\/li>\n<\/ul>\n<p>By <a href=\"http:\/\/www.dailymail.co.uk\/profile-3604\/max-aldred.html\">MAX ALDRED FOR DAILY MAIL AUSTRALIA<\/a> <\/p>\n<p><span> <span>Published:<\/span> <time datetime=\"2025-03-16T21:43:49+0000\"> 17:43 EDT, 16 March 2025 <\/time> <\/span> | <span> <span>Updated:<\/span> <time datetime=\"2025-03-16T22:30:59+0000\"> 18:30 EDT, 16 March 2025 <\/time> <\/span> <\/p>\n<div itemprop=\"articleBody\">\n<p>A Boomer has drawn outrage for saying young people should work hard and stop buying coffees if they want to build their wealth after revealing his $40million fortune.\u00a0<\/p>\n<p>The 83-year-old was stopped on the streets of <a target=\"_self\" href=\"http:\/\/www.dailymail.co.uk\/news\/sydney\/index.html\" id=\"mol-bdde9a20-02af-11f0-8c45-8d1bb724819f\">Sydney<\/a> by homebuyer assistance company Coposit on the weekend.<\/p>\n<p>He was asked how much money he had saved when he made the candid admission about his astronomical wealth.\u00a0<\/p>\n<p>&#8216;I have assets of about $40million,&#8217; he told the interviewer in a <a target=\"_self\" href=\"http:\/\/www.dailymail.co.uk\/news\/tiktok\/index.html\" id=\"mol-bddb3ec0-02af-11f0-8c45-8d1bb724819f\">TikTok<\/a> video.<\/p>\n<p>&#8216;That&#8217;s quite a lot, how did you accumulate such a large amount?&#8217; the interviewer asked him.<\/p>\n<p>&#8216;Work hard,&#8217; he replied.<\/p>\n<p>The man revealed he was a lawyer as a younger man before he began investing in properties and became a hotelier.<\/p>\n<p>He then said the <a target=\"_self\" href=\"http:\/\/www.dailymail.co.uk\/news\/cost-of-living-crisis\/index.html\" id=\"mol-70b55d90-02ac-11f0-b0a9-e5b1a5651591\" class>cost-of-living<\/a> crisis &#8216;doesn&#8217;t worry us particularly&#8217;.<\/p>\n<div>\n<p>A baby boomer has sparked outrage for claiming young people should stop spending their money on coffees after revealing he had amassed a $40million fortune\u00a0<\/p>\n<\/div>\n<p>The interviewer asked the man if he had any &#8216;tips or tricks&#8217; to save money.<\/p>\n<p>&#8216;I think, probably, if you can do away with your couple of coffees a day and things that are not necessary, then it all helps,&#8217; he said.<\/p>\n<p>&#8216;Eating out and doing those sorts of things that you don&#8217;t need to do &#8230; just watch how you spend your pennies, that&#8217;s the main thing.&#8217;<\/p>\n<p>His advice struck a chord with many social media viewers criticising the 83-year-old.<\/p>\n<p>&#8216;Why is it they always think that by skipping a coffee people will suddenly have tens of thousands of extra dollars lying around?&#8217; one asked.<\/p>\n<p>&#8216;Buying up real estate, leveraging off that to buy more is not working hard &#8230; it&#8217;s called greed,&#8217; another agreed.<\/p>\n<p>&#8216;The asset class denies entry by pushing up prices. No-one needs more than one house to live in or $40million.&#8217;<\/p>\n<p>&#8216;This video is evidence why we need an estate tax so we can reduce income tax,&#8217; a third said.<\/p>\n<p>&#8216;He is going to pass on $40mllion of assets tax free. We need to reward work by taxing inheritences.&#8217;\u00a0<\/p>\n<div>\n<p>&#8216;You can do away with your couple of coffees a day,&#8217; the man suggested to young people<\/p>\n<\/div>\n<p>Another said the &#8216;boomers had it easy&#8217;, and fired back at one man&#8217;s suggestion they just &#8216;worked hard without moaning about it&#8217;.<\/p>\n<p>&#8216;This generation works harder, longer hours, more unpaid overtime and families need both parents working,&#8217; they said.<\/p>\n<p>&#8216;It&#8217;s not hard work, it&#8217;s cost of living and wealth inequality.&#8217;<\/p>\n<p>While the baby boomer generation refers to those born from 1946 to 1964, the term \u2018boomer\u2019 often refers to older generations lecturing the young.\u00a0<\/p>\n<p>Others leapt to the elderly man&#8217;s defence, accusing young Australians of &#8216;playing the victim&#8217;.<\/p>\n<p>&#8216;He&#8217;s not lying,&#8217; one woman claimed.<\/p>\n<p>&#8216;Our generations didn&#8217;t do Euro summers, Afterpay, Ubereats, credit cards, subscriptions, new cars, designer brands, expensive gym memberships, tap and go &#8230; it all adds up.&#8217;<\/p>\n<p>&#8216;He said he worked hard. Give the man a break, jealous people here,&#8217; another said.<\/p>\n<p>&#8216;People hear the same thing time and time again but fail to listen and act and just want to play the victim,&#8217; a third added.<\/p>\n<\/div>\n<p>            <ad-slot position=\"smart_feed\"><\/ad-slot><\/p>\n<p>            <ad-slot position=\"after_article\"><\/ad-slot><\/p><\/div>\n<p> Qiana Coby<br \/><a href=\"https:\/\/www.dailymail.co.uk\/news\/article-14505205\/baby-boomer-Australia-coffee-save-money.html?ns_mchannel=rss&#038;ns_campaign=1490&#038;ito=1490\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>READ MORE:\u00a0How much money does the average Aussie really have? Here&#8217;s how your savings stack up against everyone else By MAX ALDRED FOR DAILY MAIL AUSTRALIA Published: 17:43 EDT, 16 March 2025 | Updated: 18:30 EDT, 16 March 2025 A Boomer has drawn outrage for saying young people should work hard and stop buying coffees<\/p>\n","protected":false},"author":1,"featured_media":838562,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25961,24313],"tags":[142968,8350],"class_list":{"0":"post-838561","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-boomer","8":"category-sparks","9":"tag-boomer","10":"tag-sparks"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/838561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=838561"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/838561\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/838562"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=838561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=838561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=838561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}