How a previous generation became rich and left their kids to foot the bill
A child born in 2000, will earn on average $50,000 less over their lifetime than someone born 30 years earlier, new research shows.
Sense partners economist Shamubeel Eaqub said the average overall lifetime income of New Zealanders had been dropping since the 1980s, while the price of everything went up, leaving young people worse off.
“It is not just about their ability to get into homeownership, it is also that their ability to generate income and stability in life and retirement is diminishing,” he said.
Eaqub analysed the average lifetime earnings of people born in different generations, set at the value of the dollar in 2018.
Link tovideo and article: 'We made our children poorer': How a previous generation became rich and left their kids to foot the bill | Stuff.co.nz
