In the land of plenty, the Australian dream was once promised to be a fair go for all.

However, a hidden financial disaster has been unfolding and leaving multiple generations, including seniors, in dire straits.

The plight of older Australians struggling to find work has been brought into sharp focus thanks to a segment in ABC's QandA.

Charlotte, a woman in her 50s, has been surviving on a meagre amount from Centrelink.

While she receives $500 weekly, she is often left with $50 as the majority of the relief goes to her rent.

'I am finding it very difficult to get employment,' she lamented on-air.

'No one wants to employ me, unfortunately, at my age, and I'm not unusual.'

Many Aussies like Charlotte and Damien struggle with their daily expenses. Image Credit: Pexels/Nataliya Vaitkevich

'It is really difficult to find a job out there if you're a woman over 50,' she continued.

Her story has become a common narrative among mature-aged job seekers.

As Aussies await the latest Federal Budget, millions of Australians are holding their breath for a slice of relief.

Yet, the fiscal plan for 2025-26 may not extend a helping hand to those relying on Centrelink payments.

This decision left many Aussies wondering: where is the support for those who have contributed to society and now find themselves in need?

Many welfare recipients shared their struggles with the cost of living crisis.

Damien, a 62-year-old former hospitality worker, echoed Charlotte's sentiments.

Damien recently found himself sidelined in the job hunt, making it nearly impossible for him to break free from the Centrelink cycle.

These personal accounts have been symptomatic of a more significant issue threatening the financial security and dignity of senior Australians.

The stress of this reality has also been palpable among those who fear for their future.

Vanessa, another QandA audience member, voiced the anxiety.

She shared her struggles as a sole breadwinner and the impossibility of affording a house in Australia's skyrocketing property market.

'What this means is into the future, there's the big worry hanging on our heads,' Vanessa shared.

'Older Australians are at the risk of more rental stress and, at the same time, homelessness.'

To further emphasise the issue, a young man in his 30s also shared the same plight.

'They're not living the Australian dream that their parents might have had,' Mitch shared in QandA.

'My parents had access to free university. A single income could support a family, buy a house and still have savings.'

'Now, 30 per cent of people under the age of 30 still live with their parents. It's almost unlikely that many of them will be able to afford a home or have children,' Mitch added.

'While we may be living in a more developed society, with better technology, healthcare, and things like that, the Australian dream is simply unattainable for many young Australians.'

In light of these discussions, Teal MP Allegra Spender weighed in with her thoughts.

'The numbers are true in reality, and that's what's scary,' MP Spender said.

Watch the full episode of QandA here:

Source: ABC QandA/YouTube​

'Over about the ten years going to the late 2010s, the household wealth of households over the age of 65 grew by about 50 per cent.

'The wealth of households under the age of 35 has pretty much flatlined,' MP Spender added.

'I hear time and time again from lots of young people who go, "I made all the right choices. I worked hard. I studied hard. Have a great big HECS debt and really struggling to get ahead, and I don't know if I can have the life of my parents and that's affecting whether I have kids or not."'

This cross-generational money crisis is not just an individual problem; it's a societal issue that calls for urgent attention and action.

As Aussies navigate the complexities of a changing economy and job market, it's crucial to address beliefs and systemic barriers that prevent mature-aged individuals from securing employment and financial stability.

The upcoming Federal Budget could be an opportunity for the government to demonstrate its commitment to all Australians, including those who find themselves marginalised.

Are you curious about what's gonna be in the updated Federal Budget?

You may read more about it here.

Key Takeaways

• An older woman relying on Centrelink payments highlighted the difficulty in finding work, especially for women over 50.
• With her $500 weekly Centrelink payment mostly consumed by rent, she's left with just $50 for other expenses.
• Other Aussies also highlighted several struggles that they have had amidst the cost of living crisis, such as home ownership and education.
• Older Australians face significant challenges with job security, affordable housing and potential homelessness, adding stress to an already vulnerable demographic.

Have you or someone you know faced similar challenges due to their age? How should the government address this growing crisis? Your insights are valuable, and together, we can shine a light on this issue and advocate for change. Please share your thoughts and opinions with us in the comments section below.

 

[Aussie all the Way]

I'm on an aged pension, with my wife, used all my super to payout the morgage, only have utility bills now. However, I find it hard to survive on 433.00 a week, (866.10ea is my fortnightly pension for a couple). My wife pays for all groceries and other items such as clothing, cleaning products, etc, out of her pension. Peter.

You and your partner must be wasting soooooooo much money if you can't make it on $1732 a fortnight and you own your house. Go cry on someone else's shoulder.

 

[Radiant]

Indeed it is very difficult for today’s youth to earn enough to build a home. In my day we were able to purchase smaller homes and we lived in flats trying to save enough. Then people often had to borrow for a second mortgage. And the homes didn’t have cinema rooms and family rooms. It strikes me that developers are aiming too high to accomodate first home
buyers. Social housing seems to be non existent. Government need to offer incentives to help the younger generation.

 

[Nicnat]

If your struggling to find work, try retraining. The course for a PCA. (personal care attendant) is only about 12 weeks and there are always jobs in the nursing world. It doesn’t have to be aged care.

 

[Nicnat]

You and your partner must be wasting soooooooo much money if you can't make it on $1732 a fortnight and you own your house. Go cry on someone else's shoulder.

So what do you spend your money on.

 

[Nicnat]

Indeed it is very difficult for today’s youth to earn enough to build a home. In my day we were able to purchase smaller homes and we lived in flats trying to save enough. Then people often had to borrow for a second mortgage. And the homes didn’t have cinema rooms and family rooms. It strikes me that developers are aiming too high to accomodate first home
buyers. Social housing seems to be non existent. Government need to offer incentives to help the younger generation.

In our day we were happy to start with less and work our way up. Theses days the young want everything new. The latest and the best. They are all driving big expensive cars buying big houses with brand new furniture . The banks are lending them too much money are they then find it hard when interest rates go ip. Start small and smart.

 

[Aussie all the Way]

So what do you spend your money on.

Well, we are going on another holiday this year have another one booked for next year so that will make 7 overseas trips, then I will have a look at what to do the year after, may take our caravan and go traveling. Would you like to see more. This is what you can do if you save and buy specials don't waste money on useless things, don't gamble, don't smoke, grow our own veggies and fruit.

 

[Wombat2u2004]

At 72 I prefer to keep working to maintain my brain power as well as keeping me off the streets! I have found over the years that as a mature aged woman, success in finding a job was totally dependent upon the prospective employer being of the same or near age as I. My current employer is 2 weeks older than I and really appreciates my work ethic as well as being able to relate in general conversation. Younger employers tend to be totally tech minded and expect their employees to be young tech whizzes and all over social media etc.
If you are looking for work, research prospective companies that are not multi-nationals (mum & dad company best) and have mature aged principals and current employees.

That is very good advice.
When I was a building estimator around the age of 30, we hired a 72 year old lady as secretary. She was the best secretary anyone could ask for. She knew how to do everything.