'Give the man a break': Man's candid revelation sparks discussions among Aussie workforce
- Replies 23
In a world where the cost of living seems to be perpetually on the rise, the dream of home ownership is slipping further away for many Australians.
There are times when financial advice from those who have 'made it' are eagerly sought after.
However, one man's advice struck a nerve and opened discussions about the economic realities of Australians, even seniors, today.
Recently, an 83-year-old man was stopped on the streets by homebuyer assistance company, Coposit.
The interviewer asked about the man's financial status.
His response, captured in a video, was nothing short of astonishing.
'I have assets of about $40 million,' he declared.
The interviewer, naturally curious, asked about how he accumulated such wealth.
'Work hard,' the man—a former lawyer turned property investor and hotelier—replied.
When the interviewer asked for money-saving tips, he suggested that young people should cut out unnecessary expenses like daily coffee and eating out.
'Just watch how you spend your pennies, that's the main thing,' he advised.
While the man's advice was short and sweet, it sparked multiple conversations among viewers.
Many pointed out that the economic landscape has drastically changed over the decades, making it much harder for young people to achieve financial stability.
'Why is it that they always think that by skipping coffee, people will suddenly have tens of thousands of extra dollars lying around?' one viewer asked.
'Buying up real estate, leveraging off that to buy more is not working hard; it's called greed,' another pointed out.
'The asset class denies entry by pushing up prices,' a third lamented.
'No one needs more than one house to live in or $40 million.'
'He is going to pass on $40 million of assets tax-free. We need to reward work by taxing inheritances,' a fourth argued.
Yet, not everyone was critical of the older man's perspective.
Some defended the man's viewpoint and compared today's spending habits with the past.
'Our generations didn't do Euro summers, Afterpay, Ubereats, credit cards, subscriptions, new cars, designer brands, expensive gym memberships, tap and go. It all adds up,' a woman claimed.
Watch the man's full interview here:
Source: @coposit_street/TikTok
'He said he worked hard. Give the man a break, jealous people here,' another shared his opinion.
'People hear the same thing time and time again but fail to listen and act and just want to play the victim,' another argued.
The conversation around the man's wealth and advice showed several changes in Australian society, especially the changing nature of work and wealth.
The man's interview raised essential questions about how people value work, the impact of economic policy over time, and the advice seniors pass on to their future generations.
What do you think about this man's answer, and what do you think about the discussions surrounding this video? Please share your thoughts about this financial conundrum with us in the comments section below.
There are times when financial advice from those who have 'made it' are eagerly sought after.
However, one man's advice struck a nerve and opened discussions about the economic realities of Australians, even seniors, today.
Recently, an 83-year-old man was stopped on the streets by homebuyer assistance company, Coposit.
The interviewer asked about the man's financial status.
His response, captured in a video, was nothing short of astonishing.
'I have assets of about $40 million,' he declared.
The street interview now has over 110,000 views online. Image Credit: TikTok/Coposit
The interviewer, naturally curious, asked about how he accumulated such wealth.
'Work hard,' the man—a former lawyer turned property investor and hotelier—replied.
When the interviewer asked for money-saving tips, he suggested that young people should cut out unnecessary expenses like daily coffee and eating out.
'Just watch how you spend your pennies, that's the main thing,' he advised.
While the man's advice was short and sweet, it sparked multiple conversations among viewers.
Many pointed out that the economic landscape has drastically changed over the decades, making it much harder for young people to achieve financial stability.
'Why is it that they always think that by skipping coffee, people will suddenly have tens of thousands of extra dollars lying around?' one viewer asked.
'Buying up real estate, leveraging off that to buy more is not working hard; it's called greed,' another pointed out.
'The asset class denies entry by pushing up prices,' a third lamented.
'No one needs more than one house to live in or $40 million.'
'He is going to pass on $40 million of assets tax-free. We need to reward work by taxing inheritances,' a fourth argued.
Yet, not everyone was critical of the older man's perspective.
Some defended the man's viewpoint and compared today's spending habits with the past.
'Our generations didn't do Euro summers, Afterpay, Ubereats, credit cards, subscriptions, new cars, designer brands, expensive gym memberships, tap and go. It all adds up,' a woman claimed.
Watch the man's full interview here:
Source: @coposit_street/TikTok
'He said he worked hard. Give the man a break, jealous people here,' another shared his opinion.
'People hear the same thing time and time again but fail to listen and act and just want to play the victim,' another argued.
The conversation around the man's wealth and advice showed several changes in Australian society, especially the changing nature of work and wealth.
The man's interview raised essential questions about how people value work, the impact of economic policy over time, and the advice seniors pass on to their future generations.
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Yep I remember when the interest rates went up to 17%. I'd just moved into a home I thought I'd eventually own. I'd bought it at 11% and 6 weeks later the rates went up to actually 18%. the rest of the story is even more horrendous.
