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A Millennial faces the challenge of the Age Pension


Published 06 May 2019

Living on the Age Pension will be a bleak reality for many young people – so we brought that future into the present for one of them.

John is a 32-year-old Sydneysider who is one of many young Australians unlikely to have enough money for an independent life once he stops working.

He wildly underestimated how much money he’ll need to live on. In fact, a huge number of people in their 20s and 30s do this, meaning they may not have enough money to live comfortably once they stop working.

That means they’ll be relying on the Age Pension and that’s not a goal to aim for. It might seem far off, but it’s the future they’re headed for...

So we brought that future reality to John, challenging him to live on the Age Pension for one week, and we followed him while he did it.

This is the result.

 

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