New data shows Gen Z, X and Millennials are draining savings, Boomers are saving more | ABC News

New Commonwealth bank data showed people under the age of 54 are bearing the brunt of the Reserve Bank's fight against inflation while baby boomers are living it up, outspending their kids and grandkids. Subscribe: ab.co/1svxLVE Read more here: www.abc.net.au...
The analysis of 17 million bank customers showed those over 65 had increased savings by 7 per cent while the rest are draining their savings to cover the rising cost of living.
Richard Denniss is the Executive Director of the Australia Institute. He speaks to the Weekend Breakfast team about inequalities across all generations.
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