For those born around 1950, 84% earned more at age 30-34 than their own own parents did at the same age. It has been about 68% for those born since the early 1960s.
Australians who want to retire with $1million need to start young or have a more epic battle later. Money expert Nicole-Pedersen-McKinnon has given her tips on how to achieve that goal.
Aussies turn to retail therapy as border closures see international holidays cancelled
Aussies forced to cancel their international travel plans amid coronavirus border closures have found other ways to treat themselves in the last year, spending big on retail therapy, new data reveals.
Hundreds of thousands of people across the country have been left cashed up from cancelled international holidays, leaving that money to be funnelled into the retail, beauty and hospitality sectors.
With more than $65 billion spent on international travel in Australia in 2019 pre-pandemic, some of that has now been injected back into local businesses, specifically designer goods, dining out, fine wines and even non-surgical procedures like face fillers and Botox.